Minière O3 annonce un placement privé d’actions accréditives

TSXV : OIII | OTCQX : OIIIF – Minière O3

Toronto, le 2 août 2022 – O3 Mining Inc. (TSXV : OIII; OTCQX : OIIIF) (« Minière O3 » ou la « Société ») a le plaisir d’annoncer la signature d’une convention avec Canaccord Genuity Corp. agissant au nom d’un syndicat d’agents (collectivement, les « agents »), en lien avec un placement privé sur la base des meilleurs efforts (le « financement accréditif de bienfaisance ») de 3 436 430 actions ordinaires de la Société (les « actions accréditives de bienfaisance »). Les actions accréditives de bienfaisance seront émises au prix de 2,91 $ par action accréditive de bienfaisance (le « prix du financement accréditif de bienfaisance ») pour un produit brut totalisant jusqu’à 10,0 millions de dollars.

De plus, la Société accordera aux agents l’option (l’« option des agents »), pouvant être exercée 48 heures avant la date de clôture (telle que définie ci-après), de vendre un nombre additionnel de 515 465 actions accréditives de bienfaisance au prix du financement accréditif de bienfaisance, pour un produit brut additionnel de jusqu’à 1,5 million de dollars.

La Société organise également un placement privé sans intermédiaire concomitant d’actions accréditives traditionnelles (les « actions accréditives traditionnelles », et collectivement avec les actions accréditives de bienfaisance, les « valeurs mobilières offertes ») auprès d’investisseurs stratégiques, au prix de 2,31 $ par action accréditive traditionnelle pour un produit brut additionnel de jusqu’à 5,0 millions de dollars (le « financement accréditif traditionnel »).

Les actions accréditives de bienfaisance et les actions accréditives traditionnelles seront admissibles à titre d’« actions accréditives » (au sens attribué à ce terme au paragraphe 66(15) de la Loi de l’impôt sur le revenu du Canada et à l’article 359.1 de la Loi sur les impôts du Québec). Le produit brut du financement accréditif de bienfaisance et du financement accréditif traditionnel sera utilisé par la Société pour engager des « frais d’exploration au Canada » qui seront admissibles à titre de « dépenses minières déterminées » (tels que ces deux termes sont définis dans la Loi de l’impôt sur le revenu (Canada)) (les « dépenses admissibles ») en lien avec les projets de la Société au Québec. Les dépenses admissibles seront renoncées en faveur des souscripteurs des valeurs mobilières offertes, à une date d’effet ne dépassant pas le 31 décembre 2022 et d’un montant global n’étant pas inférieur au montant total du produit brut amassé suivant l’émission des valeurs mobilières offertes.

Le financement accréditif de bienfaisance et le financement accréditif traditionnel prendront la forme d’un placement privé au Canada. Les valeurs mobilières offertes seront assujetties à une période de détention minimale de quatre mois en vertu des lois sur les valeurs mobilières applicables au Canada. Le financement accréditif de bienfaisance et le financement accréditif traditionnel devraient être clôturés le ou autour du 24 août 2022 (la « date de clôture »), sous réserve de la satisfaction ou de la renonciation des conditions de clôture usuelles, incluant l’approbation conditionnelle d’inscription à la Bourse de croissance TSX.

Le présent communiqué de presse ne constitue pas une offre de vente ni une sollicitation d’offre d’achat des valeurs mobilières aux États-Unis d’Amérique. Les valeurs mobilières n’ont pas été et ne seront pas inscrites en vertu de la loi des États-Unis intitulée « Securities Act of 1933 » (la « Loi de 1933 ») ni de toute autre loi étatique sur les valeurs mobilières et ne peuvent être offertes ni vendues aux États-Unis ou à des personnes des États-Unis (tel que ce terme est défini dans la Loi de 1933) à moins d’être inscrites en vertu de la Loi de 1933 et des lois étatiques sur les valeurs mobilières applicables, ou qu’une dispense d’une telle inscription soit disponible.

À propos de Minière O3

Faisant partie du groupe d’entreprises Osisko, Minière O3 est une société d’exploration aurifère et un développeur minier sur la voie de rentrer en production à partir de ses camps aurifères prometteurs au Québec (Canada). Minière O3 bénéficie du soutien et de l’expertise de l’équipe Osisko, chevronnée en construction minière, afin de mettre en exploitation ses gîtes de plusieurs millions d’onces d’or au Québec.

Minière O3 est bien capitalisée et elle est propriétaire exclusive de toutes ses propriétés situées au Québec (66 000 hectares). Les titres de Minière O3 se négocient à la Bourse de croissance TSX (TSXV : OIII) et sur les marchés OTC (OTCQX : OIIIF). La Société vise à offrir des rendements supérieurs à ses actionnaires et des bienfaits durables à ses parties prenantes. Plus d’informations sont disponibles sur notre site Web à l’adresse miniereo3.com

Mise en garde à l’égard des informations prospectives

Le présent communiqué contient des « informations prospectives » au sens attribué à ce terme par les lois canadiennes applicables sur les valeurs mobilières, qui sont basées sur les attentes, les estimations, les projections et les interprétations en date du présent communiqué de presse. Tout énoncé qui implique des discussions à l’égard de prévisions, d’attentes, d’interprétations, d’opinions, de plans, de projections, d’objectifs, d’hypothèses, d’événements ou de rendements futurs, notamment en ce qui a trait à l’utilisation du produit du financement, la clôture du financement et le traitement fiscal des actions accréditives (utilisant souvent, mais pas forcément, des expressions comme « s’attend » ou « ne s’attend pas », « est prévu », « interprété », « de l’avis de la direction », « anticipe » ou « n’anticipe pas », « planifie », « budget », « échéancier », « prévisions », « estime », « est d’avis », « a l’intention », ou des variations de ces expressions ou des énoncés indiquant que certaines actions, certains événements ou certains résultats « pourraient » ou « devraient » se produire, « se produiront » ou « seront atteints ») n’est pas un énoncé de faits historiques et pourrait constituer de l’information prospective et a pour but d’identifier de l’information prospective. Cette information prospective est basée sur des hypothèses raisonnables et des estimations de la direction de la Société qui, au moment où elles ont été formulées, impliquent des risques, des incertitudes et d’autres facteurs connus et inconnus qui pourraient faire en sorte que les résultats réels, les performances ou les réalisations de la Société soient sensiblement différents des résultats, des performances ou des réalisations futurs explicitement ou implicitement indiqués par cette information prospective. Bien que l’information prospective contenue dans le présent communiqué soit basée sur des hypothèses considérées raisonnables de l’avis de la direction au moment de leur publication, les parties ne peuvent garantir aux actionnaires et aux acheteurs éventuels de titres que les résultats réels seront conformes à l’information prospective, puisqu’il pourrait y avoir d’autres facteurs qui auraient pour effet que les résultats ne soient pas tels qu’anticipés, estimés ou prévus, et ni la Société ni aucune autre personne n’assume la responsabilité pour la précision ou le caractère exhaustif de l’information prospective. La Société n’entreprend et n’assume aucune obligation d’actualiser ou de réviser tout énoncé prospectif ou toute information prospective contenus dans les présentes en vue de refléter de nouveaux événements ou de nouvelles circonstances, sauf si requis par la loi.

La Bourse de croissance TSX et son fournisseur de services de règlementation (au sens attribué à ce terme dans les politiques de la Bourse de croissance TSX) déclinent toute responsabilité concernant la véracité ou l’exactitude du présent communiqué de presse. Aucune bourse ni aucune commission des valeurs mobilières ou autre autorité de règlementation n’a approuvé ni désapprouvé les renseignements contenus dans les présentes.

Pour de plus amples renseignements sur Minière O3, veuillez communiquer avec :

José Vizquerra Benavides

Président, chef de la direction et administrateur

Sans frais : +1 (833) 979-3516

Téléphone : +1 (873) 381-2014

O3 Mining Announces Upsize to Private Placement of Flow-Through Shares

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/

TSXV:OIII
OTCQX:OIIIF

TORONTO, Aug. 2, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation) is pleased to announce that it has entered into an amending agreement with Canaccord Genuity Corp. on behalf of a syndicate of agents (collectively, the "Agents") in connection with a "best efforts" private placement (the "Charitable Flow-Through Offering") of 3,436,430 common shares of the Corporation (the "Charitable Flow-Through Shares"). The Charitable Flow-Through Shares will be issued at a price of $2.91 per Charitable Flow-Through Share (the "Charitable Flow-Through Offering Price") for aggregate gross proceeds of up to $10.0 million.  The Agents will also be acting on a "best efforts" agency basis in connection with the sale of up to 1,300,000 traditional flow-through shares (the "Traditional Flow-Through Shares" and together with the Charitable Flow-Through Shares, the "Offered Securities") at a price of $2.31 per Traditional Flow-Through Share (the "Traditional Flow-Through Offering Price") for additional gross proceeds of $3.0 million.

The Corporation will grant the Agents an option (the "Agents’ Option"), exercisable 48 hours prior to the Closing Date (as herein defined), to sell up to an additional 515,465 Charitable Flow-Through Shares at the Charitable Flow-Through Offering Price for additional gross proceeds of up to $1.5 million.

The Corporation is also arranging a concurrent non-brokered private placement of Traditional Flow-Through Shares with strategic investors at the Traditional Flow-Through Offering Price for additional gross proceeds of up to $5.0 million.

The Charitable Flow-Through Shares and the Traditional Flow-Through Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)). The gross proceeds from the Charitable Flow-Through Offering and the Traditional Flow-Through Offering will be used by the Corporation to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as both terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the projects of the Corporation in Québec. The Qualifying Expenditures will be renounced in favour of the subscribers of the Offered Securities with an effective date no later than December 31, 2022 and in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of the Offered Securities.

The Charitable Flow-Through Offering and the offering of the Traditional Flow-Through Shares are being made by way of private placement in Canada. The Offered Securities will be subject to a four month hold period under applicable securities laws in Canada. The Charitable Flow-Through Offering and the offering of the Traditional Flow-Through Shares  are expected to close on or about August 24, 2022 (the "Closing Date"), subject to the satisfaction or waiver of the customary closing conditions, including the conditional listing approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance including in respect of the use of proceeds of the Offering, closing of the Offering and the tax treatment of the Charity Flow Through Shares and Traditional Flow Through Shares (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Announces Private Placement of Flow-Through Shares

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Aug. 2, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of agents (collectively, the "Agents") in connection with a "best efforts" private placement (the "Charitable Flow-Through Offering") of 3,436,430 common shares of the Corporation (the "Charitable Flow-Through Shares"). The Charitable Flow-Through Shares will be issued at a price of $2.91 per Charitable Flow-Through Share (the "Charitable Flow-Through Offering Price") for aggregate gross proceeds of up to $10.0 million.

In addition, the Corporation will grant the Agents an option (the "Agents’ Option"), exercisable 48 hours prior to the Closing Date (as herein defined), to sell up to an additional 515,465 Charitable Flow-Through Shares at the Charitable Flow-Through Offering Price for additional gross proceeds of up to $1.5 million.

The Corporation is also arranging a concurrent non-brokered private placement of traditional flow-through shares (the "Traditional Flow-Through Shares" and together with the Charitable Flow-Through Shares, the "Offered Securities") with strategic investors at a price of $2.31 per Traditional Flow-Through Share for additional gross proceeds of up to $5.0 million (the "Traditional Flow-Through Offering").

The Charitable Flow-Through Shares and the Traditional Flow-Through Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)). The gross proceeds from the Charitable Flow-Through Offering and the Traditional Flow-Through Offering will be used by the Corporation to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as both terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the projects of the Corporation in Québec. The Qualifying Expenditures will be renounced in favour of the subscribers of the Offered Securities with an effective date no later than December 31, 2022 and in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of the Offered Securities.

The Charitable Flow-Through Offering and the Traditional Flow-Through Offering are being made by way of private placement in Canada. The Offered Securities will be subject to a four month hold period under applicable securities laws in Canada. The Charitable Flow-Through Offering and the Traditional Flow-Through Offering are expected to close on or about August 24, 2022 (the "Closing Date"), subject to the satisfaction or waiver of the customary closing conditions, including the conditional listing approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance including in respect of the use of proceeds of the Offering, closing of the Offering and the tax treatment of the Flow Through Shares (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Announces Share Disposition

TSXV:OIII | OTCQX:OIIIF – O3 Mining

Toronto, July 22, 2022 – O3 Mining Inc. (TSX.V: OIII; OTCQX: OIIIF) ("O3 Mining" or the "Corporation) announces that it has sold 6,492,200 common shares of Osisko Metals Incorporated to Osisko Mining Inc., a control person of the Corporation, for gross proceeds of $2,045,043 (or $0.315 per share, being the prevailing market price) (the "Transaction").

The Transaction is being disclosed by way of a news release as it is considered to be a "related party transaction" of the Corporation for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") since Osisko Mining holds greater than 10% of the issued and outstanding common shares of the Corporation. The Corporation is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Corporation is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(a) of MI 61-101 as the fair market value of the transaction, is not more than the 25% of the Corporation's market capitalization, as well as the securities of the Corporation not trading on any "specified markets" set forth in MI 61-101. Additionally, the Corporation is exempt from minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on section 5.7(b) of MI 61-101 as the fair market value of the transaction is not more than the 25% of the Corporation's market capitalization.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

 

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Minière O3 annonce une cession d’actions

TSXV : OIII | OTCQX : OIIIF – Minière O3

Toronto, le 22 juillet 2022 O3 Mining Inc. (TSXV : OIII; OTCQX : OIIIF) (« Minière O3 » ou la « Société ») annonce qu’elle a vendu 6 492 200 actions ordinaires d’Osisko Metals Incorporated à Minière Osisko inc., une personne de contrôle de la Société, pour un produit brut de 2 045 043 $ (ou 0,315 $ par action, correspondant au cours du marché en vigueur) (la « transaction »).

La transaction est divulguée par voie de communiqué car elle est considérée comme une « opération avec une personne apparentée » de la Société aux fins du Règlement 61‑101 sur les mesures de protection des porteurs minoritaires lors d’opérations particulières (le « Règlement 61-101 ») puisque Minière Osisko détient plus de 10 % des actions ordinaires émises et en circulation de la Société. La Société se prévaut des dispenses des exigences d’évaluation officielle et d’approbation des porteurs minoritaires disponibles en vertu du Règlement 61-101. La Société est dispensée de l’exigence d’évaluation officielle prévue à l’article 5.4 du Règlement 61-101 en vertu de l’article 5.5(a) du Règlement 61-101 puisque la juste valeur marchande de l’opération ne dépasse pas 25 % de la capitalisation boursière de la Société, et qu’aucun titre de la Société n’est inscrit à la cote de l’un des marchés spécifiés dans le Règlement 61-101. De plus, la Société est dispensée de l’exigence d’obtenir l’approbation des porteurs minoritaires prévue à l’article 5.6 du Règlement 61-101 en vertu de l’article 5.7(b) du Règlement 61-101 puisque la juste valeur marchande de l’opération ne dépasse pas 25 % de la capitalisation boursière de la Société.

À propos de Minière O3

Faisant partie du groupe d’entreprises Osisko, Minière O3 est une société d’exploration aurifère et un développeur minier sur la voie de rentrer en production à partir de ses camps aurifères prometteurs au Québec (Canada). Minière O3 bénéficie du soutien et de l’expertise de l’équipe Osisko, chevronnée en construction minière, afin de mettre en exploitation ses gîtes de plusieurs millions d’onces d’or au Québec.

Minière O3 est bien capitalisée et elle est propriétaire exclusive de toutes ses propriétés situées au Québec (66 000 hectares). Les titres de Minière O3 se négocient à la Bourse de croissance TSX (TSXV : OIII) et sur les marchés OTC (OTCQX : OIIIF). La Société vise à offrir des rendements supérieurs à ses actionnaires et des bienfaits durables à ses parties prenantes. Plus d’informations sont disponibles sur notre site Web à l’adresse miniereo3.com

Mise en garde à l’égard des informations prospectives

Le présent communiqué contient des « informations prospectives » au sens attribué à ce terme par les lois canadiennes applicables sur les valeurs mobilières, qui sont basées sur les attentes, les estimations, les projections et les interprétations en date du présent communiqué de presse. Tout énoncé qui implique des discussions à l’égard de prévisions, d’attentes, d’interprétations, d’opinions, de plans, de projections, d’objectifs, d’hypothèses, d’événements ou de rendements futurs (utilisant souvent, mais pas forcément, des expressions comme « s’attend » ou « ne s’attend pas », « est prévu », « interprété », « de l’avis de la direction », « anticipe » ou « n’anticipe pas », « planifie », « budget », « échéancier », « prévisions », « estime », « est d’avis », « a l’intention », ou des variations de ces expressions ou des énoncés indiquant que certaines actions, certains événements ou certains résultats « pourraient » ou « devraient » se produire, « se produiront » ou « seront atteints ») n’est pas un énoncé de faits historiques et pourrait constituer de l’information prospective et a pour but d’identifier de l’information prospective. Cette information prospective est basée sur des hypothèses raisonnables et des estimations de la direction de la Société qui, au moment où elles ont été formulées, impliquent des risques, des incertitudes et d’autres facteurs connus et inconnus qui pourraient faire en sorte que les résultats réels, les performances ou les réalisations de la Société soient sensiblement différents des résultats, des performances ou des réalisations futurs explicitement ou implicitement indiqués par cette information prospective. Bien que l’information prospective contenue dans le présent communiqué soit basée sur des hypothèses considérées raisonnables de l’avis de la direction au moment de leur publication, les parties ne peuvent garantir aux actionnaires et aux acheteurs éventuels de titres que les résultats réels seront conformes à l’information prospective, puisqu’il pourrait y avoir d’autres facteurs qui auraient pour effet que les résultats ne soient pas tels qu’anticipés, estimés ou prévus, et ni la Société ni aucune autre personne n’assume la responsabilité pour la précision ou le caractère exhaustif de l’information prospective. La Société n’entreprend et n’assume aucune obligation d’actualiser ou de réviser tout énoncé prospectif ou toute information prospective contenus dans les présentes en vue de refléter de nouveaux événements ou de nouvelles circonstances, sauf si requis par la loi.

La Bourse de croissance TSX et son fournisseur de services de règlementation (au sens attribué à ce terme dans les politiques de la Bourse de croissance TSX) déclinent toute responsabilité concernant la véracité ou l’exactitude du présent communiqué de presse. Aucune bourse ni aucune commission des valeurs mobilières ou autre autorité de règlementation n’a approuvé ni désapprouvé les renseignements contenus dans les présentes.

Pour de plus amples renseignements sur Minière O3, veuillez communiquer avec :
José Vizquerra Benavides
Président, chef de la direction et administrateur
Sans frais : +1 (833) 979-3516
Téléphone : +1 (873) 381-2014

 

O3 Mining Intersects 2.3 g/t Au Over 14.8 Metres Outside Resource Pit Shells at Marban Engineering

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, July 6, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation) is pleased to provide an update on its well-funded 40,000 metre drilling program on its Marban Project in Val-d’Or, Quebec, Canada, which seeks to convert, expand, and discover new gold resources. The Corporation is reporting results from seven holes drilled on brownfield targets at Marban Engineering as well as providing an update on the summer exploration plan and ongoing activities at Marban Regional.

Drilling Highlights
  • 2.3 g/t Au over 14.8 metres in hole O3MA-22-300 on Norlatic Extension
  • Confirmation that Norlartic Extension is a near-surface high potential area covering 1.8 kilometres by 300 metres and containing at least four stacked zones just north of the Marban deposit
  • 1.4 g/t Au over 16.4 metres in hole O3MA-22-279 on the North-North zone, 60 metres east of the 2022 Resources Pit Shell
Marban Engineering – Brownfield Exploration

A 40,000 metre brownfield exploration program has been underway at Marban Engineering with four drill rigs targeting areas outside of the resource pits from the updated Mineral Resource Estimate ("MRE") (See Press Release March 1, 2022) in order to expand the mineralization along strike and increase resources. Part of the expansion drilling program targets the Norlartic Extension area, located north of the Marban deposit and south-east of the Norlartic deposit. The area contains at least four stacked zones where three of which correspond to the geological continuation of the Norlartic zone and form a 300 metre wide corridor that could extend for 1.8 kilometres. The ongoing campaign aims to systematically drill the entire strike length of the corridor to define new near-surface economic mineralization. To date, 16 drill holes have successfully intersected the Norlartic Extension mineralization covering a strike length of 650 metres, exceeding the 2022 resource pit shells, showing positive continuity.

O3 Mining’s President and Chief Executive Officer, Mr. Jose Vizquerra commented, "Our 2022 Brownfield exploration program at Marban Engineering continues to highlight the potential to increase the near-surface resources, especially following the release of our recently updated Mineral Resource Estimate. Not only do the results published today confirm the high potential to expand the current pits but also to grow the future production scenario, improve the project economics and extend the mine life of the project."

Table 1: Drill Hole Intercepts (only intercepts above 5 g/t Au * m are reported)

Drill Hole

From (m)

To  (m)

Interval (m)

Au(g/t)

Zone

O3MA-21-249

127.2

127.7

0.5

13.1

Norlartic
Extension

O3MA-21-249

and

134.5

137.3

2.8

1.8

O3MA-21-251

89.1

92.9

3.8

1.3

O3MA-22-298

218.5

220

1.5

4.2

O3MA-22-300

64.8

70.0

5.2

1.1

O3MA-22-300

and

76.4

91.2

14.8

2.3

O3MA-22-301

47.9

55.3

7.4

0.9

O3MA-22-301

and

236.5

242.5

6.0

2.0

O3MA-22-307

31.7

37.0

5.3

1.1

O3MA-22-279

103.3

119.7

16.4

1.4

North-North

Marban Regional – Greenfield Exploration

Surface exploration work has commenced on the Marban Regional area following ongoing compilation work. The summer program will include channel sampling, mapping, and soil sampling (see Figure 3) in highly prospective areas identified through previous compilation work combining available government data, historic property assessment reports, and our new high-definition drone magnetic survey that covers the entire property. Marban Regional covers an area of 5,773 hectares and has seen little exploration work by previous operators. The property hosts several historic showings, including the Audet showing, where a bulk sample yielded 3,615 tonnes grading 3.05 g/t Au (Source: deChavigny, 1988., Rapport Synthèse campagne 1985-86, 86-87, 87-88, Projet Audet, canton Malartic, Mines de Métaux Abitibi Ltée). This showing is emplaced along the La Pause break, the same break hosting the historic Camflo mine approximately 5 km to the southeast. Marban regional also covers the potential northwestern extensions of the Marbenite and Norbenite shear zones, over more than 5 km, and also the gold-bearing Parfouru break affecting the Blake River volcanics.

Mr. Jose Vizquerra, also commented, "We are very excited to have initiated exploration work in the Marban Regional area of the Marban Project. This underexplored, large land package offers significant exploration potential upside, with several historic showings, promise for a new discovery, and room to further grow the mineral resource."

Figure 1: Marban Property Map

Marban Property map (CNW Group/O3 Mining Inc.)

Figure 2: Marban Engineering Drilling Map

Marban Engineering Drilling Map (CNW Group/O3 Mining Inc.)

Figure 3: Marban Regional Geology Map

Marban Regional Geology Map (CNW Group/O3 Mining Inc.)

Qualified Persons

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OGQ #993), Principal Geologist, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

Minière O3 recoupe 2,3 g/t Au sur 14,8 mètres à l’extérieur des fosses proposées à Marban Ingénierie

TSXV : OIII | OTCQX : OIIIF – Minière O3

TORONTO, le 6 juill. 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (« Minière O3 » ou la « Société  ») a le plaisir de présenter une mise à jour de son programme de forage pleinement financé de 40 000 mètres sur son projet Marban à Val-d’Or, Québec (Canada) qui vise à convertir, étendre et découvrir de nouvelles ressources aurifères. La Société publie les résultats de sept sondages forés sur des cibles à proximité de minéralisation connue dans le secteur Marban Ingénierie et présente une mise à jour de ses plans d’exploration pour l’été et des activités en cours dans le secteur Marban Régional.

Points saillants des forages :

  • 2,3 g/t Au sur 14,8 mètres dans le sondage O3MA-22-300 dans la zone Norlartic Extension
  • Confirmation que Norlartic Extension est un secteur à fort potentiel situé près de la surface, d’une superficie de 1,8 kilomètre par 300 mètres, formé d’au moins quatre zones parallèles immédiatement au nord du gisement Marban
  • 1,4 g/t Au sur 16,4 mètres dans le sondage O3MA-22-279 dans la zone North-North, à 60 mètres à l’est de l’enveloppe de la fosse des ressources de 2022

Marban Ingénierie – Exploration en terrain connu

Un programme d’exploration de 40 000 mètres est en cours dans le secteur Marban Ingénierie avec quatre foreuses ciblant des secteurs à l’extérieur des fosses de ressources définies dans le cadre de la mise à jour de l’estimation des ressources minérales (« ERM ») (voir communiqué de presse du 1er mars 2022) dans le but d’augmenter l’étendue latérale de la minéralisation et d’accroître les ressources. Le programme de forage d’expansion cible en partie le secteur de  Norlartic Extension, situé au nord du gisement Marban et au sud-est du gisement Norlartic. Ce secteur renferme un au’au moins quatre zones parallèles, dont trois correspondent à la continuité géologique de la zone Norlartic, formant un corridor de 300 mètres de large qui pourrait s’étendre sur une distance de 1,8 kilomètre. La campagne en cours a pour but de vérifier systématiquement, par forage, toute l’étendue latérale du corridor afin de définir de nouvelles zones de minéralisation économique près de la surface. Jusqu’à maintenant, 16 sondages ont effectivement recoupé de la minéralisation dans  Norlartic Extension sur une étendue latérale de 650 mètres, au-delà des fosses de ressources de 2022, démontrant une continuité positive.

M. José Vizquerra, président et chef de la direction de Minière O3, a déclaré : « Notre programme d’exploration 2022 dans le secteur Marban Ingénierie continue de mettre en lumière le potentiel d’accroître les ressources près de la surface, particulièrement suivant la publication de notre estimation de ressources minérales récemment mise à jour. Les résultats publiés aujourd’hui confirment non seulement le fort potentiel d’augmenter l’étendue des fosses actuelles, mais aussi de bonifier le scénario de production future, d’améliorer les paramètres économiques du projet et de prolonger la durée de vie du projet. »

Tableau 1 : Intervalles minéralisés des sondages (seuls les intervalles supérieurs à 5 g/t Au * m sont rapportés)

Sondage

De (m)

À (m)

Intervalle (m)

Au (g/t)

Zone

O3MA-21-249

127,2

127,7

0,5

13,1

Norlartic
Extension

O3MA-21-249

et

134,5

137,3

2,8

1,8

O3MA-21-251

89,1

92,9

3,8

1,3

O3MA-22-298

218,5

220

1,5

4,2

O3MA-22-300

64,8

70,0

5,2

1,1

O3MA-22-300

et

76,4

91,2

14,8

2,3

O3MA-22-301

47,9

55,3

7,4

0,9

O3MA-22-301

et

236,5

242,5

6,0

2,0

O3MA-22-307

31,7

37,0

5,3

1,1

O3MA-22-279

103,3

119,7

16,4

1,4

North-North

Marban Régional – Exploration en terrain moins connu

Les travaux d’exploration en surface ont débuté dans le secteur Marban Régional à la suite des travaux de compilation en cours. Le programme estival comprendra des travaux d’échantillonnage en rainures, de cartographie et d’échantillonnage des sols (voir la figure 3) dans les secteurs les plus favorables identifiés grâce aux travaux de compilation antérieurs combinant les données gouvernementales disponibles, les rapports historiques d’évaluation des propriétés et les résultats de notre nouveau levé magnétique à haute résolution réalisé à l’aide d’un drone couvrant l’ensemble de la propriété. Le secteur Marban Régional couvre une superficie de 5 773 hectares et a fait l’objet de très peu de travaux d’exploration par les détenteurs antérieurs. La propriété englobe plusieurs indices historiques, notamment l’indice Audet où un échantillon en vrac de 3 615 tonnes à livré une teneur de 3,05 g/t Au (source : deChavigny, 1988., Rapport Synthèse campagne 1985-86, 86-87, 87-88, Projet Audet, canton Malartic, Mines de Métaux Abitibi Ltée). Cet indice est situé le long de la faille La Pause, soit la même faille qui abrite la mine historique Camflo située à environ 5 km au sud-est. Le secteur Marban Régional couvre aussi les extensions potentielles vers le nord-ouest des zones de cisaillement Marbenite et Norbenite, sur une distance de plus de 5 km, ainsi que la faille aurifère Parfouru qui borde les volcanites du Groupe de Blake River.

M. José Vizquerra, a commenté : « Nous sommes très heureux d’avoir débuté les travaux d’exploration dans le secteur Marban Régional du projet Marban. Cette vaste position de terrain sous-explorée offre un grand potentiel d’appréciation par l’exploration, avec la présence de plusieurs indices historiques, la promesse de nouvelles découvertes et amplement d’espace pour continuer d’accroître les ressources minérales. »

Figure 1 : Carte de la propriété Marban

Carte de la propriété Marban (Groupe CNW/O3 Mining Inc.)

Figure 2 : Carte de forage – Marban Ingénierie

Carte de forage - Marban Ingénierie (Groupe CNW/O3 Mining Inc.)

Figure 3 : Carte géologique  du secteur Marban Régional

Carte géologique du secteur Marban Régional (Groupe CNW/O3 Mining Inc.)

Personnes qualifiées

Le contenu scientifique et technique de ce communiqué de presse a été révisé, préparé et approuvé par M. Sébastien Vigneau (OGQ no 993), géologue principal, qui est une « personne qualifiée » au sens du Règlement 43-101 sur l’information concernant les projets miniers (« Règlement 43-101 »).

À propos de Minière O3

Faisant partie du groupe d’entreprises Osisko, Minière O3 est une société d’exploration aurifère et un développeur minier sur la voie de rentrer en production à partir de ses camps aurifères prometteurs au Québec (Canada). Minière O3 bénéficie du soutien et de l’expertise de l’équipe Osisko, chevronnée en construction minière, afin de mettre en exploitation ses gîtes de plusieurs millions d’onces d’or au Québec.

Minière O3 est bien capitalisée et elle est propriétaire exclusive de toutes ses propriétés situées au Québec (66 000 hectares). Les titres de Minière O3 se négocient à la Bourse de croissance TSX (TSXV:OIII) et sur le marché OTC (OTCQX:OIIIF). La Société vise à offrir des rendements supérieurs à ses actionnaires et des bienfaits durables à ses parties prenantes. Plus d’informations sont disponibles sur notre site Web à l’adresse https://miniereo3.com

La Bourse de croissance TSX et son fournisseur de services de règlementation (au sens attribué à ce terme dans les politiques de la Bourse de croissance TSX) déclinent toute responsabilité concernant la véracité ou l’exactitude du présent communiqué de presse. Aucune bourse ni aucune commission des valeurs mobilières ou autre autorité de règlementation n’a approuvé ni désapprouvé les renseignements contenus dans les présentes.

SOURCE O3 Mining Inc.

O3 Mining Expands Mineralization Corridor At Camflo Extension, Intersecting 94 Metres at 1.1 g/t Au

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, June 30, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation) is pleased to announce it has received results and interpretation from its 6,338 metres drilling campaign on the Camflo Extension deposit, on the Marban Project in Val-d'Or, Quebec, Canada.

Drilling Highlights
  • 1.1 g/t Au over 94.3 metres including 13.8 g/t Au over 1.1 metres in hole O3MA-22-253-W1.
  • 0.7 g/t Au over 116.5 metres and 26.8 g/t Au over 1.0 metre in hole O3MA-21-253.
  • All holes and wedges returned large mineralized intervals within the Camflo Plug.

The Camflo deposit was first discovered in 1962 by Camflo Mines, and was in production for 30 years from 1962 to 1992. It produced a total of 1.89 million ounces of gold from 10.3 million tonnes of ore grading 5.7 g/t Au. From this amount, 0.24 million ounces of gold were extracted within the current O3 Mining Marban project claims (Source: QERPUB-M.E.R. Publication DV93-01 Rapports des Géologues Résidents sur l'Activité Minière Régionale, 1993). Historically, gold production was mainly restricted to the Camflo Plug, a cigar shaped quartz-monzonitic intrusion that plunges 60° towards the north-east. Although the Camflo plug at surface is outside O3 Mining's property claims, the extension of the plug and the mine below 800 vertical metres is within the Marban project, as it plunges toward the north-east.

Exploration efforts by O3 Mining aimed to test the depth extensions of the historic Camflo deposit, as well as test for additional high-grade zones. A total of 6,338 metres in 2 drill holes and 3 wedges were drilled on the Camflo Extension, with results summarized in Table 1. Assay results are pending for hole O3MA-22-254-W1.

O3 Mining's President and Chief Executive Officer, Mr. Jose Vizquerra commented, "The Camflo mine was the first mine from which Barrick Gold started its successful journey, and was stopped due to a challenging gold price environment but not due to a lack of ore. O3 Mining owns 100% of the Camflo Extension deposit which we successfully tested and verified that it remains a rich mineralized area at depth. We believe more drilling in this area will unveil its full potential, however, it demands more financial resources which we are allocating to our current brownfield drilling at Marban Engineering to maximize returns to our shareholders."

O3 Mining drilled two-parent holes with one and two daughter branches that successfully intersected the plug at the predicted depth. All branches intercepted a very wide envelope of mineralization mainly located on the northern side (hanging wall) of the plug with discrete high-grade intercepts. The best results came from hole O3MA-22-253-W1 which returned 1.1 g/t Au over 94.3 metres with a high-grade interval that yielded 13.8 g/t Au over 1.1 metres.

Figure 1: Marban Property Map

Figure 1: Marban Property map (CNW Group/O3 Mining Inc.)

Figure 2: Camflo Extension cross section

Figure 2: Camflo Extension cross section (CNW Group/O3 Mining Inc.)

Table 1: Drill Hole Intercepts (only intercepts above 5 g/t Au * m are reported)

Drill Hole

 

From (m)

To  (m)

Interval (m)

Au(g/t)

Zone

O3MA-21-253

 

1268.0

1384.5

116.5

0.7

Camflo

O3MA-21-253

and

1453.0

1454

1.0

26.8

Camflo

O3MA-21-253

and

1517.0

1520.8

3.8

1.9

Camflo

O3MA-22-253-W1

 

1258.9

1353.2

94.3

1.1

Camflo

O3MA-22-253-W1

including

1274.8

1275.9

1.1

13.8

Camflo

O3MA-22-253-W1

and

1541.4

1543.0

1.6

2.6

Camflo

O3MA-22-253-W1

and

1551.0

1556.0

5.0

1.9

Camflo

O3MA-22-253-W2

 

1391.5

1477.0

85.5

0.7

Camflo

O3MA-22-253-W2

and

1501.9

1506.1

4.2

1.4

Camflo

O3MA-22-253-W2

and

1657.0

1660.0

3.0

5.3

Camflo

O3MA-21-254

 

98.9

99.8

0.9

69.1

Orion

O3MA-21-254

and

1536.0

1538.0

2.0

5.2.

Diorite Ore

O3MA-21-254

and

1750.3

1914.2

163.9

0.5

Camflo

O3MA-21-254

and

2036.0

2037.5

1.5

14.2

Camflo

Qualified Persons

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OGQ #993), Principal Geologist, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Download Press Release (CNW Group/O3 Mining Inc.)

O3 Mining Inc. logo (CNW Group/O3 Mining Inc.)

 

SOURCE O3 Mining Inc.

Minière O3 prolonge le corridor minéralisé dans l’extension de la mine Camflo avec une intersection de 94 mètres à 1,1 g/t Au

TSXV : OIII | OTCQX : OIIIF – Minière O3

TORONTO, le 30 juin 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (« Minière O3 » ou la « Société ») a le plaisir d'annoncer qu'elle a reçu les résultats et l'interprétation de sa campagne de forage de 6 338 mètres ciblant le gîte Camflo Extension sur le projet Marban à Val-d'Or, Québec (Canada).

Points saillants des forages :
  • 1,1 g/t Au sur 94,3 mètres, incluant 13,8 g/t Au sur 1,1 mètre, dans le sondage O3MA-22-253-W1.
  • 0,7 g/t Au sur 116,5 mètres et 26,8 g/t Au sur 1,0 mètre, dans le sondage O3MA-21-253.
  • Tous les sondages et les déviations ont recoupé de larges intervalles minéralisés au sein de l'intrusion de Camflo.

Le gisement Camflo a d'abord été découvert en 1962 par Camflo Mines et a été en production pendant 30 ans, de 1962 à 1992. La mine a produit un total de 1,89 million d'onces d'or provenant de 10,3 millions de tonnes de minerai à une teneur de 5,7 g/t Au. De cette quantité, 0,24 million d'onces d'or ont été extraites au sein des claims actuels du projet Marban de Minière O3 (Source : Publication QERPUB-M.E.R. DV93-01, Rapports des géologues résidents sur l'activité minière régionale, 1993). Historiquement, la production d'or se limitait surtout à l'intrusion de Camflo, une intrusion de monzonite quartzifère en forme de cigare plongeant à 60° vers le nord-est. Bien qu'en surface, le l'intrusion de Camflo se trouve à l'extérieur des claims détenus par Minière O3, l'extension de l'intrusion et de la mine, à une profondeur verticale de plus de 800 mètres, se retrouve à l'intérieur du projet Marban en raison de sa plongée vers le nord-est.

Les efforts d'exploration de Minière O3 visaient à tester les extensions en profondeur du gisement historique à Camflo, et à vérifier la présence d'autres zones à haute teneur. En tout, 6 338 mètres en 2 sondages et 3 déviations ont été forés dans l'extension Camflo; les résultats sont résumés au tableau 1. Les résultats du forage O3MA-22-254-W1 sont en attente.

M. José Vizquerra, président et chef de la direction de Minière O3, a déclaré : « La mine Camflo a été la première mine à partir de laquelle Barrick Gold a débuté son parcours remarquable, et la mine a cessé ses activités en raison d'un contexte difficile pour le prix de l'or et non parce qu'il ne restait plus de minerai. Minière O3 détient 100 % du gîte Camflo Extension, que nous avons testé avec succès pour vérifier qu'il restait bel et bien un riche secteur minéralisé en profondeur. Nous croyons qu'avec davantage de forage dans ce secteur, nous pourrons dévoiler son plein potentiel, toutefois cela nécessite des ressources financières que nous assignons présentement à notre programme de forage en cours sur le volet Marban Ingénierie, un secteur plus avancé, afin de maximiser le rendement pour nos actionnaires. »

Minière O3 a foré deux sondages principaux avec une et deux embranchements secondaires respectivement, qui ont tous réussi à recouper l'intrusion à la profondeur prévue. Tous les embranchements ont recoupé une très vaste enveloppe de minéralisation située principalement du côté nord (dans l'éponte supérieure) de l'intrusion avec des intervalles isolés à haute teneur. Les meilleurs résultats proviennent du sondage O3MA-22-253-W1 qui a livré une teneur de 1,1 g/t Au sur 94,3 mètres incluant une structure à haute teneur titrant 13,8 g/t Au sur 1,1 mètre.

Figure 1 : Carte de la propriété Marban

Figure 1 : Carte de la propriété Marban (Groupe CNW/O3 Mining Inc.)

Figure 2 : Section transversale de l'extension Camflo

Figure 2 : Section transversale de l’extension Camflo (Groupe CNW/O3 Mining Inc.)

Tableau 1 : Intervalles de forage minéralisés (seuls les intervalles supérieurs à 5 g/t Au * m sont rapportés) 

Sondage

 

De (m)

À (m)

Intervalle(m)

Au(g/t)

Zone

O3MA-21-253

 

1268,0

1384,5

116,5

0,7

Camflo

O3MA-21-253

et

1453,0

1454

1,0

26,8

Camflo

O3MA-21-253

et

1517,0

1520,8

3,8

1,9

Camflo

O3MA-22-253-W1

 

1258,9

1353,2

94,3

1,1

Camflo

O3MA-22-253-W1

incluant

1274,8

1275,9

1,1

13,8

Camflo

O3MA-22-253-W1

et

1541,4

1543,0

1,6

2,6

Camflo

O3MA-22-253-W1

et

1551,0

1556,0

5,0

1,9

Camflo

O3MA-22-253-W2

 

1391,5

1477,0

85,5

0,7

Camflo

O3MA-22-253-W2

et

1501,9

1506,1

4,2

1,4

Camflo

O3MA-22-253-W2

et

1657,0

1660,0

3,0

5,3

Camflo

O3MA-21-254

 

98,9

99,8

0,9

69,1

Orion

O3MA-21-254

et

1536,0

1538,0

2,0

5.2.

Minerai dioritique

O3MA-21-254

et

1750,3

1914,2

163,9

0,5

Camflo

O3MA-21-254

et

2036,0

2037,5

1,5

14,2

Camflo

Personnes qualifiées

Le contenu scientifique et technique de ce communiqué de presse a été révisé, préparé et approuvé par M. Sébastien Vigneau (OGQ no 993), géologue principal, qui est une « personne qualifiée » au sens du Règlement 43-101 sur l'information concernant les projets miniers (« Règlement 43-101 »).

À propos de Minière O3

Faisant partie du groupe d'entreprises Osisko, Minière O3 est une société d'exploration aurifère et un développeur minier sur la voie de rentrer en production à partir de ses camps aurifères prometteurs au Québec (Canada). Minière O3 bénéficie du soutien et de l'expertise de l'équipe Osisko, chevronnée en construction minière, afin de mettre en exploitation ses gîtes de plusieurs millions d'onces d'or au Québec.

Minière O3 est bien capitalisée et elle est propriétaire exclusive de toutes ses propriétés situées au Québec (66 000 hectares). Les titres de Minière O3 se négocient à la Bourse de croissance TSX (TSXV:OIII) et sur le marché OTC (OTCQX:OIIIF). La Société vise à offrir des rendements supérieurs à ses actionnaires et des bienfaits durables à ses parties prenantes. Plus d'informations sont disponibles sur notre site Web à l'adresse https://miniereo3.com

La Bourse de croissance TSX et son fournisseur de services de règlementation (au sens attribué à ce terme dans les politiques de la Bourse de croissance TSX) déclinent toute responsabilité concernant la véracité ou l'exactitude du présent communiqué de presse. Aucune bourse ni aucune commission des valeurs mobilières ou autre autorité de règlementation n'a approuvé ni désapprouvé les renseignements contenus dans les présentes.

Télécharger le communiqué de presse (Groupe CNW/O3 Mining Inc.)

O3 Mining Inc. Logo (Groupe CNW/O3 Mining Inc.)

 

SOURCE O3 Mining Inc.

O3 Mining Announces Results of Annual and Special Shareholders’ Meeting

TSX.V:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, June 23, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce the results of its annual and special meeting of shareholders (the "Meeting") held earlier today. A total of 45,072,231 common shares of the Corporation were represented at the Meeting, representing approximately 65.8% of the total number of common shares of the Corporation issued and outstanding.

Download Press Release (CNW Group/O3 Mining Inc.)

All matters presented for approval at the Meeting were duly authorized and overwhelmingly approved, as follows:

(i)  election of all management nominees to the board of directors of the Corporation (details in table below);
(ii)  appointment of PricewaterhouseCoopers LLP as auditors of the Corporation for the ensuing year and authorization of the directors to fix their remuneration;
(iii)  approval of the Corporation's amended 10% rolling Stock Option Plan;
(iv)  approval of the Corporation's Employee Share Purchase Plan;
(v)  approval of the Corporation's amended RSU Plan; and
(vi)  approval of the Corporation's amended DSU Plan.

Name

Voted For (#)  

Voted For (%)  

Voted Withhold  (#)  

Voted Withhold (%)  

John Burzynski

43,621,670

99.2

363,405

0.8

José Vizquerra Benavides

43,870,179

99.7

114,896

0.3

Murray John

42,618,220

96.9

1,366,855

3.1

Patrick F.N. Anderson

43,745,277

99.5

239,798

0.6

Keith McKay

43,743,007

99.5

242,068

0.6

Amy Satov

43,743,339

99.5

241,736

0.6

Bernardo Alvarez Calderon   

43,865,399

99.7

119,676

0.3

Elijah Tyshynski

43,862,399

99.7

122,676

0.3

Mélissa Desrochers

43,742,991

99.5

242,084

0.6

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com 

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about O3 Mining; the projects being focused on by O3 Mining; the timing and ability (if at all) of O3 Mining to become a producer; he previous successes of the Osisko team, including mine production, having any correlation to the future success of O3 Mining; the capitalization of O3 Mining; the ability of O3 Mining to deliver returns to its shareholders; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

Minière O3 annonce les résultats de l’assemblée annuelle et extraordinaire des actionnaires

Toronto, le 23 juin 2022 – O3 Mining Inc. (TSX.V :  OIII, OTCQX : OIIIF) (« Minière O3 » ou la « Société ») a le plaisir d’annoncer les résultats de son assemblée annuelle et extraordinaire des actionnaires (l’« assemblée ») qui a eu lieu plus tôt aujourd’hui. Un total de 45 072 231 actions ordinaires de la Société était représenté lors de l’assemblée, ce qui correspond à environ 65,8 % du nombre total d’actions ordinaires de la Société émises et en circulation.

Tous les points présentés pour approbation lors de l’assemblée ont été dûment autorisés et approuvés par une vaste majorité tel qu’indiqué ci-dessous :

  1. Élection de tous les candidats proposés par la direction au conseil d’administration de la Société (voir les détails dans le tableau ci-dessous);
  2. Nomination de PricewaterhouseCoopers s.r.l./s.e.n.c.r.l. à titre d’auditeurs de la Société pour l’année à venir et autorisation accordée aux administrateurs pour établir leur rémunération;
  3. Approbation du régime d’options d’achat d’actions à nombre variable plafonné à 10 % de la Société;
  4. Approbation du régime d’achat d’actions à l’intention des employés de la Société;
  5. Approbation du régime d’UAR modifié de la Société; et
  6. Approbation du régime d’UAD modifié de la Société.

 

Nom

Votes en faveur (nombre)

Votes en faveur (%)

Abstentions
(nombre)

Abstentions
(%)

John Burzynski

43 621 670

99,2

363 405

0,8

José Vizquerra Benavides

43 870 179

99,7

114 896

0,3

Murray John

42 618 220

96,9

1 366 855

3,1

Patrick F.N. Anderson

43 745 277

99,5

239 798

0,6

Keith McKay

43 743 007

99,5

242 068

0,6

Amy Satov

43 743 339

99,5

241 736

0,6

Bernardo Alvarez Calderon

43 865 399

99,7

119 676

0,3

Elijah Tyshynski

43 862 399

99,7

122 676

0,3

Mélissa Desrochers

43 742 991

99,5

242 084

0,6

 

 

À propos de Minière O3

Faisant partie du groupe d’entreprises Osisko, Minière O3 est une société d’exploration aurifère et un développeur minier sur la voie de rentrer en production à partir de ses camps aurifères prometteurs au Québec (Canada). Minière O3 bénéficie du soutien et de l’expertise de l’équipe Osisko, chevronnée en construction minière, afin de mettre en exploitation ses gîtes de plusieurs millions d’onces d’or au Québec.

Minière O3 est bien capitalisée et elle est propriétaire exclusive de toutes ses propriétés situées au Québec (66 000 hectares). Les titres de Minière O3 se négocient à la Bourse de croissance TSX (TSXV : OIII) et sur les marchés OTC (OTCQX : OIIIF). La Société vise à offrir des rendements supérieurs à ses actionnaires et des bienfaits durables à ses parties prenantes. Plus d’informations sont disponibles sur notre site Web à l'adresse https://miniereo3.com

Pour de plus amples renseignements sur Minière O3, veuillez communiquer avec :

 

José Vizquerra Benavides

Président, chef de la direction et administrateur

Sans frais : +1 (833) 979-3516

Téléphone : +1 (873) 381-2014

 

Mise en garde concernant les informations prospectives

Le présent communiqué de presse contient des « informations prospectives » au sens attribué à ce terme par les lois canadiennes applicables sur les valeurs mobilières, qui sont basées sur les attentes, les estimations, les projections et les interprétations en date du présent communiqué de presse. L’information contenue dans le présent communiqué de presse à propos de Minière O3; les projets sur lesquels Minière O3 concentre ses efforts; les délais et la capacité (le cas échéant) de Minière O3 de devenir un producteur; les succès antérieurs de l’équipe d’Osisko, incluant en production minière, ayant une quelconque corrélation avec les futurs succès de Minière O3; la capitalisation de Minière O3; la capacité de Minière O3 d’offrir des rendements à ses actionnaires; et toute autre information contenue dans les présentes qui n’est pas un fait historique pourrait constituer des « informations prospectives ». Tout énoncé qui implique des discussions à l’égard de prévisions, d’attentes, d’interprétations, d’opinions, de plans, de projections, d’objectifs, d’hypothèses, d’événements futurs ou de performances (utilisant souvent, mais pas forcément, des expressions comme « s’attend » ou « ne s’attend pas », « est prévu », « interprété », « de l’avis de la direction », « anticipe » ou « n’anticipe pas », « planifie », « budget », « échéancier », « prévisions », « estime », « est d’avis », « a l’intention », ou des variations de ces expressions ou des énoncés indiquant que certaines actions, certains événements ou certains résultats « pourraient » ou « devraient » se produire, « se produiront » ou « seront atteints ») n’est pas un énoncé de faits historiques et pourrait constituer de l’information prospective et a pour but d’identifier de l’information prospective. Cette information prospective est basée sur des hypothèses raisonnables et des estimations de la direction de la Société qui, au moment où elles ont été formulées, impliquent des risques, des incertitudes et d’autres facteurs connus et inconnus qui pourraient faire en sorte que les résultats réels, les performances ou les réalisations de la Société soient sensiblement différents des résultats, des performances ou des réalisations futurs explicitement ou implicitement indiqués par cette information prospective. Bien que les informations prospectives contenues dans le présent communiqué de presse soient fondées sur ce que la direction estime, ou a estimé à l’époque, être des hypothèses raisonnables, les parties ne peuvent garantir aux actionnaires et aux acheteurs potentiels que les résultats réels seront conformes à ces informations prospectives, car il peut y avoir d’autres facteurs qui font que les résultats ne sont pas conformes aux prévisions, aux estimations ou aux intentions, et ni l’une ni l’autre des parties ni aucune autre personne n’assume la responsabilité de l’exactitude et de l’exhaustivité de ces informations prospectives. Ni l’une ni l’autre des parties n’entreprend et n’assume l’obligation d’actualiser ou de réviser tout énoncé prospectif ou toute information prospective contenu dans les présentes en vue de refléter de nouveaux événements ou de nouvelles circonstances, sauf si requis par la loi.

La Bourse de croissance TSX et son fournisseur de services de règlementation (au sens attribué à ce terme dans les politiques de la Bourse de croissance TSX) déclinent toute responsabilité concernant la véracité ou l’exactitude du présent communiqué de presse. Aucune bourse ni aucune commission des valeurs mobilières ou autre autorité de règlementation n’a approuvé ni désapprouvé les renseignements contenus dans les présentes.

O3 Mining Provides Progress Update on Pre-Feasibility Study for Marban Engineering

TSXV: OIII | OTCQX: OIIIF – O3 Mining

TORONTO, June 7, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation) is pleased to provide a progress update on the mining, metallurgical, geomechanical, geotechnical, environmental and community engagement work components of the Pre-Feasibility Study ("PFS") for the Marban Engineering Project. O3 Mining remains committed to completing the study on schedule in Q3 2022.

The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares and is located 12 kilometres from the Canadian Malartic Mine (owned equally by Agnico Eagle Mines Limited and Yamana Gold Inc.). Activity at Marban in 2022 has been focused on Marban Engineering and working towards completion of the PFS and future economic studies.

PFS Progress Highlights
  • A trade-off study has been completed on mine/mill throughput, indicating a 50% increase from the Preliminary Economic Assessment ("PEA") estimate of 4 Mt per year to 6 Mt per year to mill
  • The geotechnical and geomechanical testing has been completed
  • The mineral processing and metallurgical testing program has been completed
  • Environmental baseline studies are ongoing and dialogue has been initiated with First Nations communities, host communities around the project and government representatives from all levels of government
Mining
  • Improved mine sequencing to limit peak mining rate increase to 15% with the increase of 50% in mill feed throughput and reduced peak stockpile under 2Mt vs 12Mt at PEA
  • Improvements made to the productivity with; increased truck size to 150 tonnes from 100 tonnes in PEA and increased bench size from 5 metres to 10 metres
  • The Mineral Resource Estimate ("MRE") dated March 1, 2022 (See Press Release March 1, 2022) will be used as the resource base for the PFS together with the completed and reported metallurgical testwork results
  • Additional work to be completed includes:
    • Mine sequencing and stockpile design
    • Detailed mine capital cost and operational cost
Geotechnical, Geomechanical, and Hydrogeological Programs
  • Geotechnical and geomechanical testing has been completed in Q2; interpretation ongoing
  • Hydrogeological modelling has been completed
Mineral Processing and Tailings Management
  • The metallurgical testing program has been completed
  • Trade-off study on CAPEX to recovery for grinding and leach circuit design has been completed. A reduction of target grind size from 100 microns to 85 microns and optimized leach-CIP circuit will be integrated in the mill design. Combined with improved results from testwork program and the inclusion of solution losses the recovery for the PFS is: 94.9% for Marban and 91.9% for Norlartic.
  • The tailings management trade-off study has been completed, with an improved conventional tailings scenario selected. This scenario combines a smaller tailing management facility and in-pit tailings deposition enabling a project footprint reduction.
Table 1: PFS Calculated Recoveries (Gold)

Pits

Leach
Extraction

Soluble and
other Losses

Net Recovery

Marban and Kierens

95.4%

0.5%

94.9%

Norlartic

(12.084 * Au
Head Grade
(g/t) + 80.2)%

0.5%

Average of 91.9%
based on preliminary
mine plan1

 

Note (1): Final recoveries will be confirmed once the final mine plan is completed

 

Environmental Baseline Studies and Community Relations

O3 Mining has advanced environmental baseline studies as stated in the 2021 ESG Report (See Press Release April 4, 2022), as well as, initiated dialogue with First Nations communities, government representatives from all three levels: municipal, provincial and federal, host communities around the project and other relevant stakeholders. O3 remains committed to the responsible development of its projects by incorporating a holistic sustainability approach to generate value for all stakeholders and to handle environmental concerns.

Additionally, O3 Mining has taken supplementary steps towards the social acceptability of the project. The company intends to implement a participatory approach and met with the citizens located in the project's proximity to obtain their feedback to determine the most suitable and effective mechanism to exchange through the continuation of discussions (See Press Release May 25, 2022).

Marban Engineering 2022

The Corporation will continue to advance the Marban Engineering project towards production by completing the PFS by Q3 2022 as planned. O3 Mining aims to become a leading gold producer and put the Marban project into production by 2026. In 2022, 18,000 metres have been drilled on Marban Engineering, with an additional 40,000 metres planned until the end of the year. Drilling will be focused on infill and expansion drilling, as well as exploration drilling in the Marban Fold area.  

Figure 1: Marban Property Map

Figure 1: Marban Property Map (CNW Group/O3 Mining Inc.)

Qualified Persons

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau, P. Geo (OGQ #993), Principal Geologist of the Corporation, Mr. Rob Raponi, P. Eng, Process and Infrastructure of Ausenco, and Mr. Carl Michaud, Ing. M.B.A. (OIQ 117090). Messrs Raponi, Michaud and Vigneau are "Qualified Persons" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining’s Marban Project – Participatory Approach

Val-d’Or, May 25, 2022 – O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is working to implement a participatory approach in conjunction with citizens and other stakeholders pertinent to its Marban project. To achieve this, the company is meeting the citizens located in the project’s proximity. The objective is to obtain feedback from the residents of the sector and determine the most suitable and effective mechanism to exchange through the continuation of discussions.  

Vice-President, Sustainable Development and Human Resources, Myrzah Bello, explains, “When we met with citizens last September, we committed to keeping them informed on the progression of the project. We are and will always be attentive to the concerns and questions of our host community. I sincerely believe that together we can build an innovative and beneficial approach for all stakeholders involved”.

As part of these meetings, the Company also consulted citizens on the deviation of Chemin Gervais, which will be necessary if the project materializes.

O3 Mining is also aiming to define collaboratively a fair and transparent framework with the residents and businesses that will be affected by the acquisition of their property if the project materializes and those who will live nearby the mine. It is essential for O3 Mining to jointly establish an acquisition protocol with the residents, all while taking their concerns into account.

The Company, which is at the pre-feasibility stage, is currently working on the technical and economic viability of the Marban project. Several steps remain to be crossed, but O3 Mining is confident in the project’s viability.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com.

For further information, please contact:

Arianne Bilas
Spécialiste des communications
Minière O3
1 416-559-1229
abilas@o3mining.com

O3 Mining Files Early Warning Report in Respect of Cartier Resources Inc.

TSXV:OIII | OTCQX:OIIIF – O3 Mining

Toronto, April 21, 2022 – O3 Mining Inc. (TSX.V: OIII; OTCQX: OIIIF) ("O3 Mining" or the "Corporation announces that it has filed an early warning report in respect of its holdings in Cartier Resources Inc. ("Cartier"). On April 21, 2022, O3 Mining acquired an aggregate of 46,273,265 newly issued common shares of Cartier ("Cartier Shares"), having a deemed value of $0.145 per Cartier Share, representing aggregate consideration of approximately $6.7 million, based on the closing price of the Cartier Shares on the TSX Venture Exchange as of April 20, 2021 (the "Transaction").

Immediately prior to giving effect to the Transaction, the Corporation had beneficial ownership of, or control and direction over, nil Cartier Shares, representing nil percent of the issued and outstanding Cartier Shares (being 218,145,393 Cartier Shares). Immediately after giving effect to the Transaction, the Company had beneficial ownership of, or control and direction over, 46,273,265 Cartier Shares, representing approximately 17.5% percent of the issued and outstanding Cartier Shares (on the basis of there being 264,418,658 Cartier Shares issued and outstanding as of the date hereof).

The Cartier Shares have been acquired by O3 Mining for investment purposes. O3 Mining has no current intention of increasing its ownership of, or control or direction over, additional securities of Cartier. O3 Mining may, from time to time, increase or decrease its ownership of the Consideration Shares or other securities of Cartier depending on market and other conditions.

This press release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated April 21, 2022. The early warning report in respect of the Transaction has been filed on the System for Electronic Document Analysis and Review ("SEDAR") at www.sedar.com under Cartier's issuer profile. To obtain a copy of the early warning report filed by O3 Mining, please contact José Vizquerra Benavides at +1 (873) 381-2014 or refer to SEDAR (www.sedar.com) under Cartier's issuer profile.

 

About O3 Mining Inc.
O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For further information on O3 Mining, please contact:
José Vizquerra Benavides
President, CEO and Director
Toll-Free: +1 (833) 979-3516
Telephone: +1 (873) 381-2014

O3 Mining Files Technical Report for Marban Engineering Mineral Resource Estimate Update

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, April 14, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has filed a technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects to update the mineral resource estimate on its 100% owned Marban Project. The technical report entitled "NI 43-101 Technical Report and Mineral Resource Estimate for Marban Engineering, Val-d’Or, Quebec" with an effective date of February 27, 2022, has been prepared for O3 Mining by Ausenco Engineering Canada Inc. and G Mining Services. The technical report is available on SEDAR (www.sedar.com) under O3 Mining’s issuer profile.

O3 Mining’s news release dated March 1, 2022 (entitled "O3 Mining Increases M&I Open-Pit Resource by 29% for Marban Engineering") summarizes key results, assumptions and estimates contained in the report. The Corporation is pleased to report there are no material differences between the key results, assumptions and estimates contained in the news release dated March 1, 2022, and the content of the technical report filed today.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Mineral Resource Estimate

Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of mineral resources that are not mineral reserves has not been demonstrated. The mineral resource estimate described in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s "CIM Definition Standards on Mineral Resources and Mineral Reserves" incorporated by reference into National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Readers are cautioned not to assume that further work on the stated mineral resources will lead to mineral reserves that can be mined economically.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Signs Definitive Agreement to Sell East Cadillac Project to Cartier Resources

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, April 7, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has entered into a definitive share purchase agreement (the "Definitive Agreement") with Cartier Resources Inc. ("Cartier") pursuant to which O3 Mining has agreed to sell a 100% interest in its East Cadillac Project located in Val-d’Or, Québec, Canada, in exchange for 46,273,265 common shares of Cartier, representing approximately 17.5% of the pro forma outstanding common shares of Cartier upon the completion of the transaction.

In connection with the transaction, the Corporation and Cartier will enter into an investor rights agreement (the "Investor Rights Agreement"), pursuant to which O3 Mining will be entitled to designate one director for appointment to the board of directors of Cartier. The Investor Rights Agreement will also include, among other things, pre-emptive and top-up rights in favour of O3 Mining, a standstill provision for a period of two years and a share transfer restriction provision effective for a period of three years.

The transaction remains subject to the satisfaction or waiver of customary closing conditions, including the approval of the TSX Venture Exchange to permit Cartier to issue its common shares to O3 Mining.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about closing the Transaction; the timing and ability (if at all) of O3 Mining and Cartier to close the Transaction; the go-forward strategy of O3 Mining; the focus of O3 Mining on its core projects in Val-d’Or, Québec; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Presents Its 2021 ESG Report

O3 Mining Logo (CNW Group/O3 Mining Inc.)

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, April 4, 2022 /CNW/ – O3 Mining Inc. (TSX.V: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is proud to announce it has published its 2021 environmental, social and governance ("ESG")  Report outlining the Corporation sustainable development framework and its performance and practices.

O3 Mining achieved many significant milestones in the past year as it continued to advance towards its goal of becoming a gold producer in the Val-d’Or region of Québec, Canada. The Corporation has remained committed to the responsible development of its projects by incorporating a holistic sustainability approach to generate value for all stakeholders and to handle environmental concerns.

Report Highlights

  • Obtention of UL 2723 ECOLOGO® Certification
  • Hosted its first Citizen Information meeting for residents surrounding the Marban project;
  • Zero Cases of COVID-19 in 2021;
  • Completion of its first GHG Emissions Inventory;
  • 8,953 Trees planted as part of environmental rehabilitation plan;
  • Approximately 39% Gender diversity achieved;
  • A total of 2,542 hours of employee training were completed for Environment, Exploration and Geology, Health and Safety, Governance/Management and Human Resources;
  • C$ 70,000 was contributed to donations and sponsorships.

"O3 Mining has continued to integrate sustainable development practices as a fundamental part of our business strategy which has led to the achievement of some outstanding milestones. I’m very proud of what the team has accomplished in the past year as we work collaboratively to create a more sustainable future while building tomorrow’s projects," said Jose Vizquerra, President and Chief Executive Officer of O3 Mining.

Myrzah Bello, Vice President of Sustainable Development and Human Resources commented, "Our 2021 ESG Report highlights how sustainable development has been further integrated into our corporate strategy as we’ve kept climate change and ESG considerations at the forefront of everything we do. We pride ourselves on keeping open and transparent relationships with our stakeholders, this report incorporated what we heard and their feedback will continue to be of influence going forward."

The 2021 ESG Report is O3 Mining’s second published report and is designed to provide shareholders and stakeholders with a clear tool to track O3 Mining’s progress as it continues to achieve its ESG related goals. The report has been reviewed and approved by the Vice President of Sustainable Development and Human Resources, the Board of Directors’ Sustainable Development Committee and Senior Management.

Click here to view O3 Mining’s 2021 ESG report.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The company is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation’s business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Consolidates Marban Project with Acquisition of East-West Property from Emgold Mining

TSXV:OIII | OTCQX:OIIIF – O3 Mining

/ THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

TORONTO, March 15, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has signed a binding letter agreement ("Letter Agreement") with Emgold Mining Corporation ("Emgold") to acquire 100 per cent ("%") of the rights, title and interests in Emgold’s East-West Property. The East-West Property is located in the Val-d’Or Mining Camp in Québec, adjacent to and east of the Corporation’s Marban Property, and consists of seven mining claims covering an area of 184 hectares, as shown in Figure 1.

Pursuant to the Letter Agreement, O3 Mining has agreed to acquire the East-West Property at closing in exchange for: (i) cash consideration of C$750,000, (ii) 325,000 common shares in the capital of the Corporation; and (iii) the grant of a 1% net smelter returns royalty over the East-West Property in favour of Emgold, which will be subject to a buy-back right in favour of O3 Mining ("Buy-Back Right"). The Buy-Back Right may be exercised by the Corporation until the fifth anniversary from the closing date for a cash payment of C$500,000 until the third anniversary from the closing date and C$1,000,000 until the fifth anniversary from the closing date.

The transaction is subject to the satisfactory completion by O3 Mining of its due diligence review of Emgold and the East-West Property, the receipt of any necessary regulatory (including stock exchange) approvals and the execution of the definitive agreements in respect of the transaction, which is expected to occur no later than March 31, 2022.

José Vizquerra Benavides, President and CEO of the Corporation commented: "We are excited about the acquisition of the East-West Property as it presented the opportunity to secure prospective ground near the Marban Engineering project and consolidate O3 Mining’s position in the district. Additionally, the boundary of the property is 200 metres from the Marban PEA pit edge. We look forward to finalizing the agreement and amplifying our brownfield exploration program as it holds the potential for new discoveries to expand the gold mineralization around Marban Engineering and to create significant value for our shareholders." 

The East-West property covers the auriferous Marbenite structural corridor over a 1.6 km strike length. It contains the Little Long Lac mineral occurrence where 25,000 tonnes at 8.0 g/t Au were extracted during the 1960’s and the East zone where drilling intersected 3.6 g/t Au over 16.1 m and 5,495 g/t Au over 2.25 m, among others. The exploration potential is considered promising as the structure is untested below 250 metres.

Figure 1: Marban Project Surface Map

Figure 1: Marban Project Surface map (CNW Group/O3 Mining Inc.)

"The historical data reported here is believed reliable and accurate and compliant with industry standards. The qualified person has reviewed all reports from the area and has reported on historical results and data collected, compiled and reported on. O3 Mining has not verified the data and is planning an initial exploration program."

Qualified Person 

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Gariépy. (OIQ #107538), Vice President Exploration, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation’s business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

O3 Mining logo (CNW Group/O3 Mining Inc.)

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SOURCE O3 Mining Inc.

O3 Mining Increases M&I Open-Pit Resource by 29% for Marban Engineering

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, March 1, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF)  ("O3 Mining" or the "Corporation") is pleased to provide an updated Mineral Resource Estimate ("MRE") for its 100 percent ("%") owned Marban Project located in Val-d’Or, Québec, Canada. This MRE includes the results of 39,208 metres of infill and expansion drilling in and around the 2020 Marban Preliminary Economic Assessment ("PEA") pits.

 

Highlights

  • Total Measured & Indicated ("M&I)" Open-Pit Mineral Resource of 2.3 million ounces of gold at an average grade of 1.07 g/t Au
  • Increase in Open-Pit resources of 520,000 ounces (+29%) in the Indicated category, with an average gold grade increased by 2%.
  • Conversion rate from Inferred to Indicated category is greater than 100%
  • Kierens-Norlartic Open Pit M&I resources more than doubled from 2020 MRE
  • Total M&I represents 91% of Total MRE
  • 20,000 metres planned for Brownfield exploration to increase near surface resources at Marban Engineering

The updated mineral resource is estimated from 507,238 metres of drilling in 2,205 holes including 39,208 metres in 209 holes drilled by O3 Mining from March to December 2021. Most of the drilling was dedicated to infill drilling to convert inferred resources from the PEA to indicated resources, which will be used as a resource base for the upcoming Pre-Feasibility Study ("PFS") together with recently completed and reported metallurgical testwork results. The completed drilling succeeded to convert Inferred resources from the PEA to Indicated resources.

O3 Mining’s President and Chief Executive Officer, Mr. Jose Vizquerra commented, "We are very pleased with the Marban resource update which successfully converted our inferred resources into indicated, with a conversion rate greater than 100%, which positions us well for the PFS to be completed later this year. Together with the recent metallurgical test work results and higher indicated resources, we are expecting to see robust economics in the Marban PFS and to move quickly towards initiating a Feasibility study. In parallel, initiating our 20,000 metres brownfield exploration program to increase near-surface resources and ounces at Marban Engineering."

The current drilling campaign on Marban Engineering will aim to expand the mineralization along strike to potentially generate future resources. The lateral extension of pits of the current resource estimates will be targeted, in particular, the two new pits generated north of the Marban main pit. Other zones not included in the current estimate will also be targeted such as Orion, Malartic Hygrade and Malartic H prospects.

Table 1: Marban Mineral Resource Estimate by Deposit

DEPOSIT

INDICATED

INFERRED

Tonnes (kt)

Gold(g/t)

Ounces (koz)

Tonnes (kt)

Gold (g/t)

Ounces (koz)

Marban – Open-Pit

52,437

1.03

1,736

1,038

0.97

32

Kierens-Norlartic – Open-Pit

14,795

1.22

582

1,068

1.42

49

Total Open-Pit

67,232

1.07

2,318

2,106

1.20

81

Marban – UG

162

4.47

23

860

4.43

123

Kierens-Norlartic – UG

297

3.36

32

182

3.36

20

Total – UG

460

3.75

55

1,043

4.25

142

Total – Open-Pit and UG

67,692

1.09

2,374

3,149

2.21

223

Notes: See Marban Mineral Resources Estimate Notes further below.

Table 2: Combined Marban and Kierens-Norlartic Open-Pit MRE Sensitivity Table

CUT-OFF
(g/t Au)

INDICATED

INFERRED

Tonnes (kt)

Gold (g/t)

Ounces Au (oz)

Tonnes (kt)

Gold (g/t)

Ounces Au (oz)

0.25 g/t

71,111

1.03

2,353

2,308

1.12

83

0.30 g/t

67,232

1.07

2,318

2,106

1.2

81

0.40 g/t

59,327

1.17

2,229

1,879

1.3

78

0.50 g/t

51,805

1.27

2,121

1,641

1.42

75

Notes: The above tonnages and grades are shown for comparison purposes only, and the reader should refer to Table 1 for the official resource tabulation.

Table 3: Marban Open-Pit MRE Comparison – September 2020 vs February 2022

Resource Date

Gold Price
(US$/oz Au)

Cut-off
(g/t Au)

MEASURED & INDICATED

INFERRED

Tonnes (Mt)

Grade (g/t)

Ounces (Moz)

Tonnes (Mt)

Grade (g/t)

Ounces (Moz)

Sep – 2020

1,800

0.3

53.4

1.05

1.8

12.8

1.25

0.51

Feb – 2022

1,900

0.3

67.2

1.07

2.32

2.1

1.2

0.08

Difference

13.8

0.02

0.52

-10.7

-0.05

-0.43

Percentage

26%

2%

29%

-84%

-4%

-84%

The vast majority of this mineral resource estimate is covered by drill holes spaced 25 to 40 metres apart. The Marban MRE is based on 717 drill holes totalling 228,936 metres, of which 193,126 metres were assayed. The Kierens-Norlartic MRE is based on 1488 drill holes totalling 278,302 metres, of which 139,106 metres were assayed. Mineralized wireframes were constructed with the collaboration of the geological teams of O3 Mining and G-Mining Services to reflect the folded nature of the mineralization at Marban, and in accordance with the shape of the historical mining stopes and the historical underground mapping. Most of the mineralization consists of quartz – calcite – chlorite veinlets associated with disseminated pyrite, pyrrhotite and locally visible gold. Within the Marban pit and at the North zone, the mineralization is hosted within or near iron-rich basalts. Mineralization along the Kierens-Norlartic zones is hosted within or near an albitized and chlotitized intermediate dyke swarm. The North-North zone mineralization consists of quartz – tourmaline veinlets within a felsic albitized dyke.

The MRE is based on 29 domains in the Marban sector and 18 domains in the Kierens-Norlartic sectors. Interpolation algorithms are a mix of ordinary kriging ("OK"), Inverse Distance Squared ("ID2") and Inverse Distance Cubed ("ID3") depending on the grade continuity and available data in each domain. Outlier high-grade assays have been capped before compositing at 1.5 metres intervals, and capping grade has been defined by domain based on decile analysis and probability plots. Mineral Resource Classifications have been applied based on distance to drilling and estimation pass. In-Pit resources represent blocks above a shell defined by Whittle using a cut-off grade of 0.3 g/t using cost estimation similar to the PEA (Table 4).

Table 4: Parameters used to estimate cut-off grade – Marban and Kierens-Norlartic

OPTIMIZATION PARAMETERS

UNIT

VALUE

Economic Parameters

Discount rate

%

5.00%

Gold price

US$/oz

1,900

Transport & refining cost

US$/oz

4.3

Royalty rate

%

1.50%

Royalty cost – Gold

US$/oz

28.42

Net gold value

US$/oz

1,867

Recovery & Dilution Factors

Average gold recovery

%

93.70%

Mining dilution (in block model)

%

5.00%

Mining loss (in block model)

%

0.00%

Other Ore Based Costs

Total Processing Cost incl. Power

C$/t milled

14.5

General & administration costs

C$/t milled

3.7

Total Ore Based Cost & Cut-Off Grade

Total Ore Based Cost

C$/t milled

18.2

Gold Cut-Off Grade

g/t Au

0.3

Mining

Total Mining Reference Cost

C$/t mined

2.4

Incremental bench cost

C$/5m bench

0.003

The MRE (with an effective date of February 27, 2022) was prepared by G-Mining Services Inc. The full technical report, which is being prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI-43-101"), will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days.

Marban Mineral Resource Estimate Notes

  1. The Mineral Resources described above have been prepared in accordance with the CIM Standards (Canadian Institute of Mining, Metallurgy and Petroleum, 2014) and follow Best Practices outlined by the CIM (2019).
  2. The Qualified Person (QP) for this Mineral Resource Estimate is James Purchase, P. Geo of G Mining Services Inc. Mr. Purchase is a member of L’Ordre des Géologues du Québec (#2082).
  3. The effective date of the Mineral Resource Estimate is February 27th, 2022.
  4. The lower cut-off used to report Open-Pit Mineral Resources is 0.30 g/t Au. Underground Mineral Resources have been reported using a 3.0 g/t lower cut-off at Marban, and a 2.5 g/t lower cut-off at Kierens-Norlartic.
  5. The Marban and Kierens-Norlartic Deposits have been classified as Indicated and Inferred Mineral Resources according to drilling spacing and estimation pass. No Measured Resource has been estimated. Underground Mineral Resources have been categorized manually to remove isolated areas and have been reported using 3 metres minimum thickness.
  6. Known underground workings have been incorporated into the block model, and zero density has been assigned to the blocks located within the voids.
  7. The density has been applied based on measurements taken on drill core and assigned in the block model by lithology.
  8. A minimum thickness of 3 metres was used when interpreting the mineralized bodies.
  9. The MRE is based on subblock models with a main block size of 5 m x 5 m x 5 m, with subblocks of 2.5 m x 2.5 m x 2.5 m, and has been reported inside claim boundaries held by O3 Mining
  10. Tonnage has been expressed in the metric system, and gold metal content has been expressed in troy ounces.
  11. The tonnages have been rounded to the nearest 1000 tons and the metal content has been rounded to the nearest 1000 ounces. Totals may not add up due to rounding errors.
  12. These mineral resources are not mineral reserves as they have not demonstrated economic viability. The quantity and grade of reported Inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these resources as indicated or measured; however, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.

Figure 1: Marban Project Map

Figure 1: Marban Project Map (CNW Group/O3 Mining Inc.)

Qualified Person

The information pertaining to the MRE in this news release has been reviewed and approved by Mr. James Purchase, P. Geo. (OGQ #2082), Vice-President, Geology and Resources of G-Mining Services Inc. All other scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau, P. Geo (OGQ #993), Principal Geologist of the Corporation. Messrs. Purchase and Vigneau are "Qualified Persons" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

About G-Mining Services

G-Mining Services Inc. is a specialized mining consultancy firm based in Canada. We are an entrepreneurial minded and multidisciplinary company that offers a wide range of services to both underground and open pit mining projects from greenfield to operating mines. Our firm possesses the rare capabilities to develop a resource from the exploration phase, to development, into construction, commissioning and then operations.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation’s business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Announces LOI for Sale of East Cadillac Project to Cartier Resources

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Feb. 28, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has entered into a non-binding letter of intent ("LOI") with Cartier Resources Inc. ("Cartier") pursuant to which Cartier would acquire a 100% interest in the East Cadillac Project, located in the Val-d’Or, Québec, Canada, which is currently held in a wholly-owned by the Corporation (the "Transaction"). The Transaction remains subject to due diligence, corporate and regulatory approvals, completion of definitive documentation and other closing conditions.

Under the terms of the LOI signed on February 4th, 2022, O3 Mining would receive approximately 46 million common shares of Cartier ("Cartier Shares") in exchange for the East Cadillac Property, representing approximately 17.5% of the pro forma outstanding Cartier Shares upon the completion of the Transaction.

Mr. Jose Vizquerra, O3 Mining’s President, Director and Chief Executive Officer commented: "We are pleased to have entered into this agreement with Cartier, which furthers our strategy of deriving value from certain of our exploration assets while retaining exposure to the upside as significant shareholder. This divestment is part of our go-forward strategy of finding strategic buyers for certain of our assets, who have strong management teams, are well-capitalized and strong technically and operationally".

Mr. Philippe Cloutier, Cartier’s Chief Executive Officer commented: "The acquisition of the East Cadillac project positions Cartier into one of the largest gold exploration companies in the Val-d’Or mining camp area with a significant resource and land holding in Canada’s most prolific gold mining camp. The transaction provides a good endorsement of our project and adds a highly successful project development company as a partner".

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

About Cartier Resources Inc.

Cartier Resources Inc., which was founded in 2006, is an exploration company based in Val-d’Or. The company’s projects are all located in Quebec, which regularly ranks among the best mining jurisdictions in the world. Cartier is advancing the development of its flagship Chimo Mine project and actively exploring its other projects.  The company has a solid cash position exceeding C$ 6.3M and significant corporate and institutional supports, notably with Agnico Eagle Mines, Jupiter Asset Management and the Quebec investment funds.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about closing the Transaction or entering into definitive transaction documents relating thereto; the timing and ability (if at all) of O3 Mining and Cartier to close the transaction; the go-forward strategy of O3 Mining; the focus of O3 Mining on its core projects in Val-d’Or, Québec; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Agrees to Sell Its Interest in the FCI Property to Patriot Battery Metals

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Feb. 22, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has entered into an asset purchase and sale agreement with Patriot Battery Metals Inc. ("Patriot") to sell its remaining 50% interest in certain mining claims comprising the FCI Property located in James Bay Region of Québec (the "FCI Claims") to Patriot in exchange for (i) 1,800,000 common shares of Patriot, and (ii) a one-time cash payment of C$3 million from Patriot. Patriot had previously earned a 50% interest in the FCI Claims pursuant to an Earn-in and Joint Venture Agreement, as amended, between O3 Mining and Patriot.

The transaction remains subject to the satisfaction or waiver of customary closing conditions, including the approval of the Canadian Securities Exchange to permit Patriot to issue its common shares to O3 Mining.

Mr. Jose Vizquerra, O3 Mining’s President, Director and Chief Executive Officer commented: "We are pleased to continue to increase value for our shareholders, with no dilution, through divestment of a non core asset as a part of our ongoing strategy. This transaction will improve our cash position as well as support our 2022 drilling program ".

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about closing the transaction; the timing and ability (if at all) of O3 Mining and Patriot to close the transaction; the go-forward strategy of O3 Mining; the focus of O3 Mining on its core projects in Val-d’Or, Québec; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Reports Positive Metallurgical Results from Marban Engineering; 96% Gold Recoveries at Marban Pit

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Feb. 8, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to report the results of gold recovery test work conducted on drill core samples from its 100 percent ("%") owned Marban Project located in Val-d'Or, Québec, Canada. The results were produced from the recent metallurgical testing program completed by Base Metallurgical Laboratories in Kamloops, British Columbia, under the overall supervision of Ausenco Engineering Canada Inc. ("Ausenco"). Additionally, the Corporation has appointed Ausenco to lead the Pre-Feasibility Study ("PFS") for the Marban project, which O3 Mining intends to have completed by Q3 2022.

 

Highlights From the Cyanidation Test Work

  • Overall gold extraction at Marban Pit South of 96.7%; Marban Pit North of 95.8%; Norlartic Pit of 91.2%; versus Preliminary Economic Assessment ("PEA") overall gold extraction of 93.7%
  • Enhanced Gravity Recovery Gold testing resulted in 61%-65% recovery of gold
  • Recovery of gold achieved after 24 hours of leach time; versus PEA 28 hours
  • Average Bond ball mill work index at 13.2 kWh/t.

O3 Mining's President and Chief Executive Officer, Mr. Jose Vizquerra commented, "We are very pleased the test work has confirmed excellent gold recoveries at the Marban project. Our test work supports and improves PEA assumptions of quick leach times, strong recoveries, and a simple flowsheet comparable to peers in the Abitibi-Témiscamingue region. These results provide an excellent foundation for the project and represent a significant milestone for the company as the Marban project moves towards the completion of the PFS. Additional metallurgical work is planned that will feed into in the final stages of the economic study."

The metallurgical gold recovery test-work was conducted to assess the potential gold recoveries and optimum process flow sheet for the Marban Project. Testing started in late 2021 on composite and variability samples from the Marban and Norlartic pits and variability samples from North Zone, Norlartic-Kierens and Golden Bridge. The program included comminution testing, grind optimization, gravity concentration, and leach testing. Cyanide destruction and solid liquid separation testing are still ongoing and will be completed in Q1 2022.

Gold Recovery Test Work Results Summary
The program evaluated 24 discrete composite samples ("composite" or "composites") representing 375 kilograms of material from across the four deposits. Each composite consisted of multiple samples collected from diamond drill core and coarse rejects. Primary composites were selected for the Marban (two samples) and Norlartic pits to reflect grade, spatial and lithological distributions. The primary pit composites were designed to have average grades reflecting the PEA average pit grades. Variability samples were selected to reflect the grade ranges present and other lithological units.

Table 1: Marban Project Total (gravity and leach) Gold Recoveries

Composite ID

Grind P80
(µm)

Leach Time
(h)

Head
Analysis

Au Recovery (%)

Au (g/t)

Gravity

Total (24 h)

Total (48h)

Norlartic Pit

108

48

0.99

24.1

88.0

91.2

Marban Pit North

107

48

0.81

21.7

93.9

95.8

Marban Pit South

108

48

0.64

25.9

94.6

96.7

Crushing and Grinding Testing

  • Comminution testing characterized ore hardness by Bond Ball Mill Work Index ("BWI")
  • The Bond Ball Mill Work Index median of 13.2 kilowatt hours per tonne ("kWh/t") is within the range of medium to medium-hard material
  • Bond Abrasion Index ("AI") was 0.194 g, which indicates low to medium abrasion.

Gravity Concentration Testing

  • Marban and Norlartic pit composite samples were tested with the Extended Gravity Recoverable Gold ("E-GRG") protocol to determine their amenability to gravity concentration
  • Results showed very high Gravity Recoverable Gold ("GRG") content ranging from 61% to 65% gold.

Leach Testing
A total of 41 leach tests were conducted, including initial screening tests and a bulk leach test (pending). The results showed:

  • Batch gravity recovery of gold ranging from 9% to 50%, averaging 29%
  • Gold leach extractions after batch gravity processing ranging from 48% to 88%, averaging 65%, with final residue values of 0.01 g/t to 0.65 g/t gold, averaging 0.10 g/t gold
  • Combined overall gold extraction ranging from 77% to 99%, averaging 94% and
  • Calculated gold head grades ranging from 0.46 g/t to 8.47 g/t gold, averaging 1.55 g/t gold.

Plant recoveries will be estimated using grades from the Mine Plan along with typical plant losses.

Process Criteria
Table 2 shows the selected mineral processing design parameters resulting from the test work program. These values are typical for leaching of gold and achievable with commonly used technologies.

Table 2: Flowsheet Parameters

Grind P80
(µm)

Leach Time

(h)

Leach Slurry Density

(wt % solids)

Cyanide Concentration

(g/L)

100

24

40-45

1.0

Qualified Person
The metallurgical information in this news release has been reviewed and approved by Robert Raponi, P. Eng. of Ausenco Engineering Canada Inc. All other scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OGQ #993), Principal Geologist of the Corporation. Messrs. Raponi and Vigneau are "Qualified Persons" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

About O3 Mining Inc.
O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

About Ausenco
Ausenco is a global company redefining what's possible. Their team is based across 26 offices in 14 countries, with projects in over 80 locations worldwide. Combining their deep technical expertise with a 30-year track record, they provide innovative, value-add consulting and engineering studies and project delivery, asset operations and maintenance solutions to the mining & metals, oil & gas and industrial sectors.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Completes Positive Infill Drilling Program at Marban Project and Provides Results; Next Steps, Updated Resource and Progress to Engineering

 TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Feb. 1, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to provide an update on its fully-funded large-scale drilling program at its Marban and Alpha properties in Val-d'Or, Québec, Canada, which seeks to convert, expand, and discover new gold resources. The Corporation is reporting the completion of its infill drilling program at the Marban project and reporting results from 12 holes drilled in and around the Marban project's open-pittable deposits.

 

O3 Mining's President and Chief Executive Officer, Mr. Jose Vizquerra commented, "The drilling results reported from the 2021 infill drilling program have confirmed the significance of the Marban, Kierens, Norlartic, North and North North Preliminary Economic Assessment ("PEA") Pits. The infill drilling program at Marban has continuously demonstrated structural continuity and expansion of mineralization in both open pit and underground mine scenarios. The drill holes reported today reconfirm our expectations of expanding the gold resource in the open pits at Marban and allow us to focus on providing a resource update in the coming months. Throughout 2022, activity at Marban will be focused on Marban Engineering, undertaking the completion of the Marban Pre-Feasibility Study ("PFS") and future economic studies, as well as focusing on the Marban Regional greenfield exploration program."

DRILLING HIGHLIGHTS

Marban

  • 4.2 g/t Au over 12.7 metres, including 25.0 g/t Au over 1.8 metres in hole O3MA-21-240A located in the proposed PEA pit.

Norlartic

  • 1.2 g/t Au over 18.6 metres and 2.0 g/t Au over 51.6 metres, including 33.9 g/t Au over 1.1 metres in hole O3MA-21-229* located in the proposed PEA pit.
  • 2.9 g/t Au over 40.7 metres including 55.3 g/t Au over 0.5 metres and including 14.9 g/t Au over 0.9 metres and 1.5 g/t Au over 31.8 metres, including 11.3 g/t Au over 0.9 metres in hole O3MA-21-239A* located 30 metres East of the proposed PEA pit.

Table 1: Drill Hole Intercepts (only intercepts above 20.0 g/t Au × m are reported; cut-off 0.3 g/t Au and above 200 vertical metres or within the PEA proposed pits)

Drill Hole

From (m)

To (m)

Interval (m)

Au (g/t)

Zone

O3MA-21-198

414.5

417.5

3.0

7.6

Marban

incl.

414.5

415.5

1.0

21.9

O3MA-21-240A

262.4

275.1

12.7

4.2

incl.

269.2

271

1.8

25.0

O3MA-21-223

115.5

156.5

41.0

0.9

Norlartic

O3MA-21-226A*

57.6

100

42.4

1.5

incl.

81.9

82.9

1.0

11.4

O3MA-21-229*

13.9

32.5

18.6

1.2

and

47.5

99.1

51.6

2.0

incl.

74.3

75.4

1.1

33.9

O3MA-21-230B*

154.5

155

0.5

1.4

and

155

159

4.0

Mine Opening

and

159

195

36.0

2.1

O3MA-21-233*

17

65

48.0

1.0

O3MA-21-234*

20.9

81.1

60.2

0.6

and

90

100.1

10.1

5.5

incl.

90

91.1

1.1

11.1

incl.

97.5

98.2

0.7

26.6

O3MA-21-236*

19.2

38.4

19.2

1.28

O3MA-21-237*

149.5

178.7

29.2

1.5

O3MA-21-239A*

91.3

132

40.7

2.9

incl.

108.5

109

0.5

55.3

incl.

128.5

129.4

0.9

14.9

and

139.8

171.6

31.8

1.5

incl.

164.5

165.4

0.9

11.3

O3MA-21-245*

155.8

157

1.2

20.1

* Holes drilled from south to north due to accessibility restrictions; estimated true thicknesses range from 30 to 40% of core length.  The estimated true thicknesses of the other intercepts are between 75 and 95% of core length.

The Marban zone drilling highlights consist of an array of veins and veinlets composed of quartz, calcite, and chlorite within a folded basaltic unit. The Norlartic zone drilling highlights consist of a stockwork of quartz veinlets with disseminated pyrite within intermediate and mafic dykes as well as a basaltic unit within the hanging wall of the Norbenite Shear. This geology is consistent with the description of the mineralized zones of the historical mines in and around the Marban project. Many drill holes published today have crossed historical mining stopes and confirm the presence of high-grade material within the mining walls and wide envelopes on both sides of those mine openings.

A portion of the 2021 drilling program was designed to convert a significant proportion of the in-pit Marban resources of the inferred category into the indicated category. All intercepts listed in today's news release are part of this program.  All results from the infill drilling program in 2021 will be included in an updated resource for Marban, which is to be completed by an independent contractor. The contractor has received all the inputs required from O3 Mining and is expected to be released during the first quarter of 2022.

MARBAN ENGINEERING – ROADMAP

MILESTONES

STATUS

RESULTS EXPECTED

Infill drilling program

Completed

Q1 2022

Metallurgical testwork

In progress

Updated resource estimate

In progress

Geotechnical and geomechanical fieldwork, lab testing

In progress

Figure 1: Marban Project Drilling Map

Figure 1: Marban Project Drilling Map (CNW Group/O3 Mining Inc.)

Figure 2: Kierens -Norlartic Longitudinal Section

Figure 2: Kierens -Norlartic Longitudinal Section (CNW Group/O3 Mining Inc.)

Drilling Update

O3 Mining will progress its 2022 drilling program with 73,000 metres planned on its Alpha and Marban projects with updated health and safety procedures to keep its employees safe and mitigate COVID-19 transmission. As part of this program, the winter drilling season at Marban will focus on the Camflo deposit extension at depth. At Alpha, the focus will be put on the expansion of the Kappa and Bulldog deposits and exploration in the Omega sector.

The Corporation has drilled 118,951 metres in 2021 on its Val-d'Or properties testing for Potential Economic Material ("PEM") with 100-metre step-outs aiming to expand current resources of 2.4 million ounces measured and indicated (62.0 Mt @ 1.22 g/t Au)1 and 1.3 million ounces inferred (19 Mt @ 2.13 g/t Au)1 and make new discoveries.   

Figure 3: Marban and Alpha Properties Overview

Figure 3: Marban and Alpha Properties Overview (CNW Group/O3 Mining Inc.)

Marban – Project Development

The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares and is located 12 kilometres from the Canadian Malartic Mine. The Marban PEA outlined production of an average of 115,000 ounces of gold per year over the 15.2 year mine life.

Activity at Marban in 2022 will be focused on Marban Engineering, focused on the completion of the Marban PFS and future economic studies, and Marban Regional, a greenfield exploration program over the entire Marban project with 40,000 metres of drilling planned. In 2021, 63,756 metres were drilled with up to eight drill rigs testing for PEM, as well as aiming to convert resources from Inferred to Measured and Indicated, to ultimately become part of Marban's maiden mineral reserve.

A PEA was completed on the project in 2020, and a PFS is currently underway and due to be completed in 2022 as the next step to advance the project to production. Additionally, the Corporation has advanced baseline studies on the Marban project, held meetings with key stakeholders, and hosted its first community information meeting for nearby residents. O3 Mining aims to become a leading gold producer and put the Marban project into production by 2026.

Alpha – Advanced Exploration

The Alpha property is located eight kilometres east of Val-d'Or, Québec, and three kilometres south of the Eldorado Lamaque Mine. The property covers more than 7,754 hectares and includes 20 kilometres of the prolific Cadillac Break. O3 Mining has an option agreement that grants the right to acquire 100 percent interest in the Aurbel Mill located only 10 kilometres from the Alpha property for C$5.0M within the next five years.

In 2022, the 33,000 metres of drilling at Alpha will be focused on expanding the known deposits at Kappa and Bulldog, following up on Sigma-type veins in the Omega sector and resource conversion of the Akasaba deposit. A 54,121 metres program was executed in 2021, which included grassroots exploration, deposit delineation, and resource expansion.

1/ Mineral Inventory: i) Marban Technical Report 2020 Prepared by Ausenco Engineering Canada, Moose Mountain Technical Services and WSP Canada, ii) Orenada Technical Report 2018 Prepared by InnovExplo Inc., iii) Akasaba Technical Report 2014 Prepared by Geologica Groupe-Conseil Inc. and Geopointcom Inc., iv) Simkar Gold Technical Report 2015 Prepared by MRB & Associates, v) East Cadillac Technical Report 2017 Prepared by MRB & Associates vi) Sleepy Technical Report 2014 Prepared by Geologica Groupe-Counseil Inc. and GeoPointCom Inc.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OGQ #993), Principal Geologist, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Control and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat laboratory in Val-d'Or, Québec, and Mississauga, Ontario, for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge. Commercial certified standard material and blanks are systematically inserted by O3 Mining's geologists into the sample chain after every 18 core samples as part of the quality assurance and quality control ("QA/QC") program. Third-party assays are submitted to other designated laboratories for 5% of all samples. Drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Intersects 12.0 g/t Au Over 8.3 Metres From Kappa Zone at its Alpha Project

TSXV:OIII | OTCQX:OIIIF

TORONTO, Jan. 24, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to provide an update on its fully-funded 250,000 metre drilling program at its Marban and Alpha properties in Val-d'Or, Québec, Canada which seeks to convert, expand, and discover new gold resources. The Corporation is reporting results from three holes drilled on the Alpha property.

Drilling Highlights:

  • 12.4 g/t Au over 1.9 metres in hole O3AL-21-380 at a vertical depth of 53 metres in the Kappa zone;
  • 12.0 g/t Au over 8.3 metres and 8.1 g/t Au over 2.0 metres and 35.9 g/t Au over 1.1 metres in hole O3AL-21-388 from a vertical depth of 625 metres to 663 metres in the Kappa zone which remains open at depth and laterally.
  • 28.1 g/t Au over 0.9 metres in hole O3AL-21-391 at a vertical depth of 638 metres in the Kappa zone which remains open at depth and laterally.

O3 Mining continues to extend gold mineralization with the potential to increase resources within trucking distance of the 1,600 tpd Aurbel Mill ("Aurbel"). On May 14, 2020, the Corporation signed an option agreement with QMX Gold Corporation (acquired by Eldorado Gold in January 2021) to acquire a 100 per cent interest in Aurbel, which is a fully permitted mining facility located 10 kilometres from O3 Mining's Alpha property.

O3 Mining's President and Chief Executive Officer, Mr. Jose Vizquerra commented, "I am very excited about today's drill results which give us confidence in the continuity of gold mineralization and the potential of the Kappa Zone which extends at depth and remains open in many directions. The proximity of the Kappa and Bulldog zones creates the potential for a sizeable project with robust grade, thickness, and continuity. We are eager to continue our 2022 winter drilling program where we will continue expansion drilling in the Kappa Zone through the coming months."

Table 1: Drill Hole Intercepts (only intercepts above 5.0 g/t Au * m are reported, cut-off 1.0 g/t Au)

Drill Hole

From
(m)

To
(m)

Interval
(m)

Au
(g/t)

Zone

O3AL-21-380

52.0

53.9

1.9

12.4

Kappa

O3AL-21-388

710.0

712.0

2.0

8.1

and

719.1

720.2

1.1

35.9

and

757.5

765.8

8.3

12.0

O3AL-21-391

726.7

727.6

0.9

28.1

The intercepts in holes O3AL-21-388 and O3AL-21-391 are spaced 100 metres horizontally. These intercepts are following up on a significant intercept obtained 100 metres above in hole O3AL-21-338, which returned 4.4 g/t Au over 4.1 metres (See Press Release August 5th, 2021). This zone remains open to the east and at depth while partially open to the west and above. The Kappa zone offers clear potential to grow and therefore warrants further drilling. Gold mineralization at Kappa is located at the contacts with an intermediate porphyritic dyke and characterized by quartz-calcite-epidote-pyrite-chalcopyrite veins and veinlets within a wide (>20 metres) biotite-epidote alteration envelope.  Unlike Bulldog, the Kappa zone shows a clear association with Ag (~10 g/t) and Cu (~0.1 %). The Kappa structure occurs about 150 metres north of the Bulldog zone and was identified while stepping back to drill Bulldog at depth. 

The shallow intercept in hole O3AL-21-380 is located 600 metres east of hole O3AL-21-388 and hosted within a thick dyke. The relationship with the other intercepts listed above has yet to be understood.  This near-surface intercept is open to the east and at depth while partially open to the west. 

Based on these promising results, O3 Mining assigned 6,000 metres of drilling to expand the Kappa zone. Two drill rigs are actively working to fulfill the program this winter.

Figure 1: Alpha Project Drilling Map

Figure 1: Alpha Project Drilling Map (CNW Group/O3 Mining Inc.)

Drilling Update

O3 Mining will progress its large-scale drilling program with 73,000 metres planned on its Alpha and Marban projects with updated health and safety procedures to keep its employees safe and mitigate COVID-19 transmission. As part of this program, the winter drilling season at Marban will focus on the Camflo deposit extension at depth. At Alpha, the focus will be put on the expansion of the Kappa and Bulldog deposits and exploration in the Omega sector.

The Corporation has drilled 118,951 metres in 2021 on its Val-d'Or properties testing for Potential Economic Material ("PEM") with 100-metre step-outs aiming to expand current resources of 2.4 million ounces measured and indicated (62.0 Mt @ 1.22 g/t Au)1 and 1.3 million ounces inferred (19 Mt @ 2.13 g/t Au)1 and make new discoveries.   

Figure 2: Marban and Alpha Properties Overview

Figure 2: Marban and Alpha Properties Overview (CNW Group/O3 Mining Inc.)

Marban – Project Development 

The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares and is located 12 kilometres from the Canadian Malartic Mine. The Marban preliminary economic assessment ("PEA") outlined production of an average of 115,000 ounces of gold per year over the 15.2 year mine life.

Activity at Marban in 2022 will be focused on Marban Engineering, focused on the completion of the Marban PFS and future economic studies, and Marban Regional, a greenfield exploration program over the entire Marban project with 40,000 metres of drilling planned. In 2021, 63,756 metres were drilled with up to eight drill rigs testing for PEM, as well as aiming to convert resources from Inferred to Measured and Indicated, to ultimately become part of Marban's maiden mineral reserve.

A PEA was completed on the project in 2020, and a Pre-Feasibility Study ("PFS") is currently underway and due to be completed in 2022 as the next step to advance the project to production. Additionally, the Corporation has advanced baseline studies on the Marban project, held meetings with key stakeholders, and hosted its first community information meeting for nearby residents. O3 Mining aims to become a leading gold producer and put the Marban project into production by 2026.

Alpha – Advanced Exploration

The Alpha property is located eight kilometres east of Val-d'Or, Québec, and three kilometres south of the Eldorado Lamaque Mine. The property covers more than 7,754 hectares and includes 20 kilometres of the prolific Cadillac Break. O3 Mining has an option agreement that grants the right to acquire 100 percent interest in the Aurbel Mill located only 10 kilometres from the Alpha property for C$5.0M within the next five years.

In 2022, the 33,000 metres of drilling at Alpha will be focused on expanding the known deposits at Kappa and Bulldog, following up on sigma type veins in the Omega sector and resource conversion of the Akasaba deposit. A 54,121 metres program was executed in 2021 which included grassroots exploration, deposit delineation, and resource expansion.

1/ Mineral Inventory: i) Marban Technical Report 2020 Prepared by Ausenco Engineering Canada, Moose Mountain Technical Services and WSP Canada, ii) Orenada Technical Report 2018 Prepared by InnovExplo Inc., iii) Akasaba Technical Report 2014 Prepared by Geologica Inc. and Geopointcom Inc., iv) Simkar Gold Technical Report 2015 Prepared by MRB & Associates, v) East Cadillac Technical Report 2017 Prepared by MRB & Associates vi) Sleepy Technical Report 2014 Prepared by Geologica Group-Counseil Inc. and GeoPointCom Inc.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OGQ #993), Principal Geologist, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Control and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat laboratory in Val-d'Or, Québec, and Mississauga, Ontario for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge. Commercial certified standard material and blanks are systematically inserted by O3 Mining's geologists into the sample chain after every 18 core samples as part of the quality assurance and quality control ("QA/QC") program. Third-party assays are submitted to other designated laboratories for 5% of all samples. Drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news rlease contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Releases Outlook 2022


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TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Jan. 18, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation”) is pleased to provide its outlook and catalysts for 2022 in addition to a review of 2021.

2021 was a very successful year for O3 MiningAt Marban, we successfully completed an infill drilling program to convert inferred resources within the Preliminary Economic Assessment (“PEA”) pits, and we also aggressively drilled to expand mineralization outside the proposed PEA pits. This will be included in an updated resource in the coming months. In 2022, our focus is to complete the Pre-feasibility study (“PFS”) at Marban all while continuing to drill at the Camflo extension at depth testing for Potential Economic Material (“PEM”) with the aim to grow the potential mining operation. At the Alpha project, our focuses are to convert PEM to the Inferred resource category in the Akasaba sector, expand the resource for both the Kappa and Bulldog deposits while also focusing on exploration of the Omega sector. The Alpha project has a purchase option agreed on the Aurbel mill at which we will be conducting a scoping study for the mill and its tailings. We are excited for what is to come in 2022 and look forward to accomplishing many more milestones.” commented José Vizquerra, President and CEO of O3 Mining.

Drilling Summary 2022

The Corporation drilled a total of 118,951 metres in 2021 at its Marban and Alpha projects and will continue to expand current resources of 2.4 million ounces measured and indicated (62.0 Mt @ 1.22 g/t Au)1 and 1.3 million ounces inferred (19 Mt @ 2.13 g/t Au)1 and make new discoveries.

In 2022, O3 Mining will progress its large-scale drilling program with 73,000 metres planned on its Alpha and Marban projects.

2022 Drilling Overview

Q1

Q2

Q3-Q4

Drilling

7 Drill Rigs
(30,000 metres)

4 Drill Rigs
(16,000 metres)

4 Drill Rigs
(27,000 metres)

Details

Resource expansion at Bulldog,
Kappa and Camflo, and target
testing at Omega and near
surface at Marban

Delineation drilling at
Bulldog, resource expansion at Kappa
and Camflo

Deliver Marban PFS,  and
resource expansion at
Bulldog, Akasaba and
Camflo extension, and
initiation of the
condemnation drilling
program at Marban

Figure 1: Marban and Alpha Properties Overview

Figure 2 Marban Project (CNW Group/O3 Mining Inc.)

Marban Project – 40,000 metres

The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares and is located 12 kilometres from the Canadian Malartic Mine. Activity at Marban will be focused on Marban Engineering, focused on the completion of the Marban PFS and future economic studies, and Marban Regional, a greenfield exploration program over the entire Marban project.

  • Marban Engineering:
    • Updated Resource by the end of Q1 2022, including the results from our large-scale drilling program.
    • Complete the Pre-feasibility Study (“PFS”) by Q3 2022 with a focus on conducting fieldwork, completing metallurgical, geotechnical and geomechanical test work, economic trade-off studies, in addition to advancing environmental baselines studies.
  • Marban Regional:
    • Camflo extension testing for potential economic material, which offers the potential to increase resources within the Marban Project area.
    • Initiate the greenfield exploration program over the entire project. The minimally drilled area is three times larger than the Marban Engineering area and hosts numerous historical gold showings.

Marban Pre-feasibility Study Roadmap:

Expected Work To Be Completed

Q1

Q2

Q3

  • Metallurgical test work
  • Resource estimate
  • Geotechnical and
    geomechanical fieldwork,
    and lab testing

  • Hydrology and
    hydrogeology analysis
  • Mine design
  • Mill and tailings design

  • Cost estimate and
    economic
    evaluation
  • PFS – NI 43-101
    Technical report

Figure 2: Marban Project Overview

Figure 3 Alpha Project (CNW Group/O3 Mining Inc.)

Alpha Project – 33,000 metres

  • Expand known deposits at Kappa and Bulldog and proceed to a resource estimate when there is enough resource to generate an economic scenario.
  • Follow-up on significant Sigma type veins intercepted in the Omega sector to prove the existence of an auriferous system proximal to Eldorado’s Lamaque mine and hosted in a similar geological environment.
  • Resource conversion and expansion at the Akasaba deposit, which offers the potential to become a gold producer in the short term as most of the deposit has already been tightly drilled in the first 300 metres from the surface.

Figure 3: Alpha Property

O3 Mining Logo (CNW Group/O3 Mining Inc.)

Sustainable Development

The responsible development of projects has remained at the core of O3 Mining’s strategy and the capacity of its team to manage sustainability issues has grown exponentially. The Corporation is eager to build on its progress through the following initiatives:

  • Maintaining our UL 2723 ECOLOGO® Certification – The Corporation will continue to apply its sustainable development procedures currently in place while continuously looking for opportunities to improve its current practices.
  • Health & Safety – As O3 Mining continues to navigate the COVID-19 pandemic, it will continue to reinforce sanitary measures to preserve the health and safety of its employees, contractors, and communities. It will continue to promote a health and safety culture in all its activities with safety being at the core of the Corporation’s values. Prevention being the pillar of its H&S management program, training, performance tracking and reporting will be noteworthy this year.
  • Environment – This year, in addition to maintaining environmental procedures and protocols, the Corporation aims to determine its climate change risks, identify impact reducing innovations and continue the rehabilitation of exploration sites. Finally, the Corporation will complete the environmental baseline studies and initiate the federal and provincial permitting process for the Marban project.
  • Community relations – O3 Mining contributes to the social and economic development of communities through locally sourcing goods and services, employing local workers and supporting community initiatives. The Corporation looks forward to further embedding itself into the local community and continuing to develop partnerships with key stakeholders such as the Algonquin communities.
  • Talent and culture – The Corporation’s employees have the potential to grow both personally and professionally. As every business, it has been confronted with the contemporary challenge of recruiting and retaining talent. O3 Mining will work on developing a talent and culture corporate strategy since its people are a crucial asset.

2021 Year in Review

O3 Mining is pleased to share its Year in Review Report. 2021 was a year with many successes including the sale of the Garrison Project and the beginning of the strategic Partnership with Moneta Gold, the discovery of new zones at Alpha and Marban, the launch of the Corporation’s first ESG Report, receiving UL 2723 ECOLOGO® Certification for Mineral Exploration and the implementation of procedures and best practices across all pillars of ESG.

The report can be viewed on the Corporation’s website at: https://o3mining.com/year-review/

1/ Mineral Inventory: i) Marban Technical Report 2020 Prepared by Ausenco Engineering Canada, Moose Mountain Technical Services and WSP Canada, ii) Orenada Technical Report 2018 Prepared by InnovExplo Inc., iii) Akasaba Technical Report 2014 Prepared by Geologica Inc. and Geopointcom Inc., iv) Simkar Gold Technical Report 2015 Prepared by MRB & Associates, v) East Cadillac Technical Report 2017 Prepared by MRB & Associates vi) Sleepy Technical Report 2014 Prepared by Geologica Group-Counseil Inc. and GeoPointCom Inc.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OIQ #993), Principal Geologist, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation’s business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Grants Security-Based Compensation for 2022

Toronto, January 17, 2022 – O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF) ("O3 Mining" or the "Corporation") announces that, effective January 14, 2022, it granted to certain officers, directors and/or employees of the Corporation (i) an aggregate of 880,000 options to acquire common shares of the Corporation ("Options"), (ii) an aggregate of 480,000 restricted share units of the Corporation ("RSUs"), and (iii) an aggregate of 240,000 deferred share units of the Corporation ("DSUs"). The Options have an exercise price of $1.98 per share, a five-year term from the date of grant and vest annually in equal thirds beginning on the first anniversary of the date of grant. The RSUs are subject to a three-year cliff vesting period from the date of grant. The DSUs will vest in accordance with the Corporation's DSU plan.

About O3 Mining Inc.
O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

For further information please contact:
José Vizquerra Benavides
President, CEO and Director
Toll-Free: +1 (833) 979-3516
Telephone: +1 (873) 381-2014

O3 Mining Reports New Results from Its 2021 Infill Drilling Program at its Marban Project

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TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Jan. 10, 2022 /CNW/ – O3 Mining Inc. (TSX.V: OIII) ( OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to provide an update on its well-funded 250,000 metre drilling program at its Marban and Alpha properties in Val-d’Or, Québec, Canada which seeks to convert, expand, and discover new gold resources. The Corporation is reporting 15 holes drilled in and around the Marban open-pittable deposits. O3 Mining intends to share its objectives for the year in the following weeks.  

Drilling Highlights:

Marban

  • 35.8 g/t Au over 8.9 metres, including 440.0 g/t Au over 0.7 metres in hole O3MA-21-187 located in the proposed Preliminary Economic Assessment ("PEA") pit. Subsidiary zones were also intersected along the same drill hole yielding 1.0 g/t Au over 37.0 metres, 3.3 g/t Au over 3.2 metres, and 1.3 g/t Au over 31.4 metres;
  • 11.1 g/t Au over 5.0 metres and 5.3 g/t Au over 7.2 metres in hole O3MA-21-232 located in the proposed PEA pit;

Norlartic

  • 44.1 g/t Au over 2.3 metres including 192.0 g/t Au over 0.5 metre in hole O3MA-21-203 located in the proposed PEA pit. This intercept is bordered by two historical openings and the gold endowment goes beyond those openings, 1.1 g/t Au over 6.4 metres and 2.1 g/t Au over 1.6 metres were also intercepted immediately before and after;
  • 2.1 g/t Au over 17.4 metres and 3.0 g/t Au over 9.8 metres in hole O3MA-21-211 located in the proposed PEA pit. The hole also intercepted 1.5 g/t Au over 7.9 metres and 3.2 g/t Au over 2.3 metres surrounding a historical opening;
  • 2.1 g/t Au over 13.7 metres and 1.8 g/t Au over 25.2 metres on each side of a historical opening in hole O3MA-21-143 located in the proposed PEA pit.

O3 Mining’s President and Chief Executive Officer, Mr. Jose Vizquerra, commented, "We are very pleased to begin the year with these latest results from our successfully completed infill drilling program at the Marban Project. Not only do the results offer us the potential to expand the overall scope of the project, but we are also seeing higher grades than the average resource grade, which we are confident will be reflected in our updated mineral resource in early 2022 and will be an important component in the completion of Marban’s Pre-Feasibility Study."

Table 1: Drill Hole Intercepts (only intercepts above 20.0 g/t Au * m are reported, cut-off 0.3 g/t Au and above 200 vertical metres or within the PEA proposed pits)

Drill Hole

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Zone

O3MA-21-154

110.0

134.0

24.0

1.5

Marban

O3MA-21-182

108.8

120.0

11.2

2.4

O3MA-21-187

58.0

95.0

37.0

1.0

including

82.5

83.0

0.5

20.7

and

177.0

185.9

8.9

35.8

including

183.2

183.9

0.7

440.0

and

185.9

189.9

Mine Opening

and

189.9

193.1

3.2

3.3

and

228.6

260.0

31.4

1.3

O3MA-21-198

346.2

373.5

27.3

1.0

O3MA-21-213

248.0

249.9

1.9

0.8

and

249.9

252.7

Mine Opening

and

252.7

270.7

18.0

1.5

and

298.0

319.0

21.0

1.2

O3MA-21-232

213.0

218.0

5.0

11.1

and

233.3

240.5

7.2

5.3

O3MA-21-143

177.0

190.7

13.7

2.1

Norlartic

including

189.5

190.7

1.2

14.6

and

190.7

192.7

Mine Opening

and

192.7

217.9

25.2

1.8

O3MA-21-176

103.5

113.6

10.1

1.5

and

113.6

117.6

Mine Opening

and

117.6

120.7

3.1

1.8

and

128.8

142.2

13.4

1.7

O3MA-21-194

195.3

217.5

22.2

1.3

O3MA-21-197

81.5

91.5

10.0

2.2

O3MA-21-200

153.0

160.5

7.5

1.6

and

166.3

174.9

8.6

1.3

O3MA-21-203

162.0

168.4

6.4

1.1

and

168.4

174.3

Mine Opening

and

174.3

176.6

2.3

44.1

including

175.4

175.9

0.5

192.0

and

176.6

178.8

Mine Opening

and

178.8

180.4

1.6

2.1

O3MA-21-211

109.1

117.0

7.9

1.5

and

117.0

127.4

Mine Opening

and

127.4

129.7

2.3

3.2

and

133.3

150.7

17.4

2.1

and

158.7

168.5

9.8

3.0

O3MA-21-217

59.4

92.7

33.3

1.2

O3MA-21-227

93.4

113.1

19.7

1.2

The Marban zone drilling highlights consist of an array of veins and veinlets composed of quartz, calcite, and chlorite within a folded basaltic unit. The Norlartic zone drilling highlights consist of a stockwork of quartz veinlets with disseminated pyrite within intermediate and mafic dykes as well as a basaltic unit within the hanging wall of the Norbenite Shear. This geology is consistent with the description of the mineralized zones of the historical mines in and around the Marban project. Many drill holes published today have crossed historical mining stopes and confirmed the presence of high-grade material within the mining walls and wide envelopes on both sides of those mining openings.

A portion of the 2021 drilling program was designed to convert a significant proportion of the in-pit Marban resources of the inferred category into the indicated category. There are 1,662 assays pending in 32 infill drill holes which O3 Mining expects to release as they become available in the coming weeks. All intercepts listed in today’s news release are part of this program and will be included in an updated resource for Marban, which is expected to be released during the first quarter of 2022.

Figure 1: Marban Project Drilling Map

Figure 1: Marban Project Drilling Map (CNW Group/O3 Mining Inc.)

Figure 2: Kierens -Norlartic Longitudinal Section

Figure 2: Kierens -Norlartic Longitudinal Section (CNW Group/O3 Mining Inc.)

Drilling Update

O3 Mining continues to execute its large-scale drilling program in the coming months with additional health and safety procedures to keep its employees safe and mitigate COVID-19 transmission. As part of this program, the winter drilling season at Marban will focus on the Camflo deposit extension at depth. At Alpha, the focus will be put on the expansion of the Kappa and Bulldog deposits and exploration in the Omega sector.

The Corporation has drilled 118,951 metres in 2021 on its Val-d’Or properties testing for Potential Economic Material ("PEM") with 100-metre step-outs aiming to expand current resources of 2.4 million ounces measured and indicated (62.0 Mt @ 1.22 g/t Au)1 and 1.3 million ounces inferred (19 Mt @ 2.13 g/t Au)1 and make new discoveries. 

Figure 3: Marban and Alpha Properties Overview

Figure 3: Marban and Alpha Properties Overview (CNW Group/O3 Mining Inc.)

Marban – Project Development

The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares and is located 12 kilometres from the Canadian Malartic Mine. The Marban PEA outlined production of an average 115,000 ounces of gold per year over the 15.2 year mine life.

Drilling at Marban has focused on expanding mineralization in and outside of the proposed PEA pit areas, as well as discovering new mineralization for an underground mining scenario. In 2021, 63,756 metres were drilled to achieve this goal with up to eight drill rigs testing for PEM, as well as aiming to convert resources from Inferred to Measured and Indicated, to ultimately become part of Marban’s maiden mineral reserve.

A PEA was completed on the project in 2020, and a Pre-Feasibility Study ("PFS") is currently underway and due to be completed in 2022 as the next step to advance the project to production. O3 Mining aims to become a leading gold producer and put the Marban project into production by 2026.

Alpha – Advanced Exploration

The Alpha property is located eight kilometres east of Val-d’Or, Québec, and three kilometres south of the El Dorado Lamaque Mine. The property covers more than 7,754 hectares and includes 20 kilometres of the prolific Cadillac Break. O3 Mining has an option agreement that grants the right to acquire 100 percent interest in the Aurbel Mill located only 10 kilometres from the Alpha property for C$5.0M within the next five years.

Drilling at Alpha is at an earlier stage than at Marban and has focused on grassroots exploration, deposit delineation, and resource expansion. A 54,121 metres program was executed in 2021. In 2022, O3 Mining will have up to three drill rigs testing for new discoveries using its PEM drilling strategy as well as focusing on deposit delineation and expansion of the current resource.

1/ Mineral Inventory: i) Marban Technical Report 2020 Prepared by Ausenco Engineering Canada, Moose Mountain Technical Services and WSP Canada, ii) Orenada Technical Report 2018 Prepared by InnovExplo Inc., iii) Akasaba Technical Report 2014 Prepared by Geologica Inc. and Geopointcom Inc., iv) Simkar Gold Technical Report 2015 Prepared by MRB & Associates, v) East Cadillac Technical Report 2017 Prepared by MRB & Associates vi) Sleepy Technical Report 2014 Prepared by Geologica Group-Counseil Inc. and GeoPointCom Inc.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OIQ #993), Principal Geologist, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Control and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat laboratory in Val-d’Or, Québec, and Mississauga, Ontario for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge. Commercial certified standard material and blanks are systematically inserted by O3 Mining’s geologists into the sample chain after every 18 core samples as part of the QA/QC program. Third-party assays are submitted to other designated laboratories for 5% of all samples. Drill program design, Quality Assurance/Quality Control ("QA/QC"), and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management’s view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation’s business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.


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SOURCE O3 Mining Inc.

Infill Drilling at O3 Mining’s Marban Project Intersects 5.7 g/t Gold Over 14.5 Metres

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TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Oct. 18, 2021 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to provide an update on its well-funded 250,000 metre drilling program at its Marban and Alpha properties in Val-d'Or, Québec, Canada which seeks to convert, expand, and discover new gold resources. The Corporation is reporting 11 holes drilled in and around the Marban open-pittable deposits. O3 Mining is also pleased to announce the appointment of Jean-Félix Lepage to the position of Director of Operations.

Marban Open Pits

Drilling Highlights:

  • 3.3 g/t Au over 10.9 metres in hole O3MA-21-135 located within the proposed Preliminary Economic Assessment ("PEA") pit for the North-North Zone;
  • 4.2 g/t Au over 7.8 metres in hole O3MA-21-130A located nine metres below the proposed PEA pit for the Norlartic Zone;
  • 5.7 g/t Au over 14.5 metres including 61.9 g/t Au over 1.1 metres and 2.7 g/t Au over 4.5 metres including 15.1 g/t Au over 0.6 metres in hole O3MA-21-144 located 43 metres below the proposed PEA pit for the Norlartic Zone on both sides of a historical mining stope.

O3 Mining's President and Chief Executive Officer, Mr. Jose Vizquerra commented; "Our infill-drilling program continues to demonstrate structural continuity and resource expansion potential in and around the Marban open pits. I truly believe the pits have a huge potential for further expansion. Furthermore; as we look forward to moving the Marban project into production I am very excited to add Jean-Félix Lepage as Director of Operations. His knowledge and experience will be a key asset to O3 Mining as he will lead the team completing the Marban Pre-Feasibility Study ".

 

Table 1: Drill Hole Intercepts (only intercepts above 20.0 g/t Au * m are reported, cut-off 0.3 g/t Au and above 250 vertical metres)

Drill Hole

From
(m)

To
(m)

Interval
(m)

Au (g/t)

Zone

O3MA-21-135

44.9

55.8

10.9

3.3

North North Infill

O3MA-21-137

34.7

55.9

21.2

1.3

O3MA-21-112

50.0

63.0

13.0

2.2

North Infill

O3MA-21-127

92.1

120.5

28.4

0.8

O3MA-21-119

17.0

30.5

13.5

1.6

Norlartic Infill

O3MA-21-130A

216.7

224.5

7.8

4.2

and

224.5

232.1

Mine Opening

and

232.1

236.8

4.7

0.6

O3MA-21-141

170.5

199.6

29.1

1.2

O3MA-21-142

204.9

222.5

17.6

1.0

and

222.5

227.0

Mine Opening

and

227.0

227.8

0.8

NSV

and

227.8

229.0

Mine Opening

and

229.0

230.5

1.5

14.2

O3MA-21-144

222.5

239.5

14.5

5.7

Including

232.4

233.5

1.1

61.9

and

239.5

241.5

Mine Opening

and

241.5

246.0

4.5

2.7

Including

242.5

243.1

0.6

15.1

O3MA-21-145A

187.1

202.4

15.3

1.4

O3MA-21-172

152.7

161.4

7.7

1.8

and

161.4

167.8

Mine Opening

and

167.8

176.5

8.7

1.3

The Norlartic and North zones drilling highlights consist of a stockwork of quartz veinlets with disseminated pyrite within intermediate and mafic dykes as well as a basaltic unit within the hanging wall of the Norbenite Shear. The North North zones drilling consists of quartz and tourmaline veins in an altered granodiorite. This geology is consistent with the description of the mineralized zones of the historical mines in and around the Marban project. Many drill holes published today have crossed historical mining stopes and confirmed the presence of high-grade material within the mining walls and wide envelopes on both sides of those mining openings.

Figure 1: Marban Project Drilling Map

Figure 1: Marban Project Map (CNW Group/O3 Mining Inc.)

Figure 2: Kierens -Norlartic Longitudinal Section

Figure 2: Kierens-Norlartic Longitudinal Section (CNW Group/O3 Mining Inc.)

Jean-Félix Lepage – Director of Operations

Jean-Félix obtained his Bachelor of Mining and Mineral Engineering from Université Laval and holds a college technical degree in mineral processing from CEGEP de Thetford. He has over ten years of experience in mining and optimizing processes, projects, and activities. Mr. Lepage most recently worked at Newmont Corporation where he held several different operational roles. Mr. Lepage began his career as a plant metallurgist and later moved on to be a mine superintendent where he managed the underground mining operations at Newmont. Recognized for his ability to manage multiple priorities in very dynamic situations, he will lead the team to complete the Marban Pre-feasibility Study as well as the development of the Marban project into production.

Drilling Update

The Corporation has drilled 97,728 metres as of September 31st 2021 on its Val-d'Or properties testing for Potential Economic Material ("PEM") with 100-metre step-outs aiming to expand current resources of 2.4 million ounces measured and indicated (62.0 Mt @ 1.22 g/t Au)1 and 1.5 million ounces inferred (20.2 Mt @ 2.27 g/t Au)1 and make new discoveries. All intercepts listed in today's news release will be included in an updated resource for Marban which is expected to be released during the first quarter of 2022.

Figure 3: Marban and Alpha Properties Overview

Figure 3: Marban and Alpha Properties Overview (CNW Group/O3 Mining Inc.)

Marban – Project Development 

The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares, and is located 12 kilometres from the Canadian Malartic Mine. The Marban PEA outlined production of an average 115,000 ounces of gold per year over the 15.2 year mine life.

Drilling at Marban has focused on expanding mineralization in and outside of the proposed PEA pit areas, as well as discovering new mineralization for an underground mining scenario. An 80,000 metre drill program is being executed this year, with 54,382 metres drilled so far. There will be up to eight drill rigs testing for PEM, as well as, aiming to convert resources from Inferred to Measured and Indicated, to ultimately become part of Marban's maiden mineral reserve.

A PEA was completed on the project in 2020, and a Pre-Feasibility Study ("PFS") is currently underway and due to be completed in 2022 as the next step to advance the project to production. O3 Mining aims to become a leading gold producer and put the Marban project into production by 2026.

Alpha – Advanced Exploration

The Alpha property is located eight kilometres east of Val-d'Or, Québec, and three kilometres south of the El Dorado Lamaque Mine. The property covers more than 7,754 hectares and includes 20 kilometres of the prolific Cadillac Break. O3 Mining has an option agreement that grants the right to acquire 100 per cent interest in the Aurbel Mill located only 10 kilometres from the Alpha property for C$5.0M within the next five years.

Drilling at Alpha is at an earlier stage than at Marban and has focused on grassroots exploration, deposit delineation, and resource expansion. A 56,000 metre program is being executed this year with  42,272 metres completed year to date. O3 Mining will have up to three drill rigs testing for new discoveries using its PEM drilling strategy as well as focusing on deposit delineation and expansion of the current resource.

1/ Mineral Inventory: i) Marban Technical Report 2020 Prepared by Ausenco Engineering Canada, Moose Mountain Technical Services and WSP Canada, ii) Orenada Technical Report 2018 Prepared by InnovExplo Inc., iii) Akasaba Technical Report 2014 Prepared by Geologica Inc. and Geopointcom Inc., iv) Simkar Gold Technical Report 2015 Prepared by MRB & Associates, v) East Cadillac Technical Report 2017 Prepared by MRB & Associates vi) Sleepy Technical Report 2014 Prepared by Geologica Group-Counseil Inc. and GeoPointCom Inc.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Louis Gariepy. (OIQ #107538), VP Exploration, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Control and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat laboratory in Val-d'Or, Québec, and Mississauga, Ontario for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge. Commercial certified standard material and blanks are systematically inserted by O3 Mining's geologists into the sample chain after every 18 core samples as part of the QA/QC program. Third-party assays are submitted to other designated laboratories for 5% of all samples. Drill program design, Quality Assurance/Quality Control ("QA/QC"), and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Acquires 80% Interest in the Centremaque Property Located on Its Alpha Property

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TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Oct. 1, 2021 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that its wholly-owned subsidiary, Alexandria Minerals Corporation ("Alexandria"), has acquired an 80% undivided interest (the "Acquired Interest") in the Centremaque Property, located on O3 Mining's Alpha Property in Val-d'Or, Québec, Canada (the "Property"), from Golden Valley Mines and Royalties Ltd. ("Golden Valley").

The acquisition was completed pursuant to the terms of an option agreement dated April 20, 2017 between Golden Valley and Alexandria (as amended, the "Option Agreement"), pursuant to which Golden Valley granted Alexandria an option to acquire the Acquired Interest by, among other things, incurring C$4 million in eligible expenditures (the "Required Expenditures") over a four-year period following the date of the Option Agreement.

On September 9, 2021, Golden Valley and Alexandria amended the terms of the Option Agreement to allow Alexandria to satisfy a shortfall of C$209,460 in Required Expenditures by delivering to Golden Valley common shares in the capital of the Corporation (the "Common Shares") in lieu thereof. In accordance with the terms of the amended Option Agreement, the Corporation has issued to Golden Valley an aggregate of 98,570 Common Shares in full satisfaction of Alexandria's obligations to incur the Required Expenditures under the Option Agreement. The Common Shares issued in connection with the transaction are subject to a hold period expiring four months and one day after date of issuance.

In accordance with the terms of the Option Agreement, upon acquiring the Acquired Interest, Golden Valley and Alexandria are deemed to have formed a joint venture for the purposes of, among other things, further exploring the Property and, if deemed warranted, developing, constructing and operating a mine on the Property (or a part of thereof). Golden Valley will retain a 20% free carried interest, and retain a 1.5% NSR royalty, of which 0.5% may be purchased by the Corporation for C$1 million.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com.

 

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about the NCIB; the intentions of the Company to purchase Shares under the NCIB; the beliefs of management regarding the trading and value of the Shares; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions, including the assumptions listed below, and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the volatility in the trading price of the Shares of the Company; the ability of the Company to implement the NCIB; the ability of the Company to complete further exploration activities, including drilling; property interests; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. The key assumptions that have been made in connection with the forward-looking statements include the following: the price of the Shares not adequately reflecting the value of the Company; the number of Shares to be repurchased for cancellation under the NCIB; and generating value for the shareholders of the Company. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Hosts Its First Information Meeting with Local Citizens in Val-d’Or and Malartic

Val-d’Or, September 29, 2021 – O3 Mining Inc. (TSX.V: OIII; OTCQX: OIIIF) ("O3 Mining" or the "Corporation") has presented the major milestones of its Marban Project set to be in production by 2026 to the citizens in the surrounding area.  

Residents of the Dubuisson neighbourhood attended two information meetings held on September 29 at the Maison du Citoyen de Dubuisson. In addition, both sessions were broadcasted live on the company’s Facebook page to accommodate more residents in the area. 

The Marban project, located on the border of the cities of Val-d'Or and Malartic, will begin its Pre-Feasibility Study ("PFS") following a positive Preliminary Economic Assessment ("PEA") released on September 08, 2020. O3 Mining is working to establish the technical and economic viability of the project.

In addition to presenting the work in progress and the steps to come, the meetings provided an opportunity to listen to the citizens and identify their concerns regarding the Marban project.

The Corporation is committed to actively engaging in early dialogue with the community and to demonstrate its commitment to being a responsible citizen that is receptive to the needs and concerns of residents.

Jose Vizquerra, President and CEO of O3 Mining, stated, "I am pleased with the participation of the citizens at this first information meeting. We look forward to continuing the dialogue and working collaboratively with our host communities.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com 

For more information or to request an interview, please contact:

Communications Coordinator
Arianne Bilas
abilas@o3mining.com
Telephone: +1 (416) 559-1229

O3 Mining Inc. Announces Normal Course Issuer Bid

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Sept. 28, 2021 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that the TSX Venture Exchange (the "Exchange") has accepted the Corporation's notice to implement a normal course issuer bid ("NCIB") to purchase, for cancellation, up to 4,482,072 of its common shares (the "Shares"), representing approximately 10% of the Corporation's "public float".

O3 Mining has received approval from the Exchange to commence the NCIB on October 1, 2021 and continue to September 30, 2022, or earlier in the event that the Corporation has acquired the maximum number of Shares that may be purchased under the NCIB. The Corporation may also terminate the NCIB earlier if it feels it is appropriate to so.

The NCIB will be made through the facilities of the Exchange and the purchase and payment for the Shares will be made in accordance with the Exchange requirements at the market price of the Shares at the time of acquisition. All Shares purchased by the Corporation under the NCIB will be cancelled.

The Corporation has engaged BMO Nesbitt Burns Inc. to act as its agent to conduct the NCIB transactions.

O3 Mining's management believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the NCIB is in the best interests of the Corporation, a desirable use of its available cash, and will enhance shareholder value in general.

To the knowledge of the Corporation, no director, senior officer or other inside of the Corporation currently intends to sell any shares under the NCIB.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about the NCIB; the intentions of the Company to purchase Shares under the NCIB; the beliefs of management regarding the trading and value of the Shares; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions, including the assumptions listed below, and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the volatility in the trading price of the Shares of the Company; the ability of the Company to implement the NCIB; the ability of the Company to complete further exploration activities, including drilling; property interests; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. The key assumptions that have been made in connection with the forward-looking statements include the following: the price of the Shares not adequately reflecting the value of the Company; the number of Shares to be repurchased for cancellation under the NCIB; and generating value for the shareholders of the Company. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

O3 Mining Awarded UL ECOLOGO® Certification for Responsible Mineral Exploration

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Sept. 7, 2021 /CNW/ – Aligned with our commitment to sustainability, O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is proud to announce that it has received UL 2723 ECOLOGO® Certification for Mineral Exploration Companies ("ECOLOGO Certification"). The development of responsible projects is at the core of our strategy. This third-party certification confirms that our environmental, social and governance procedures and practices are exemplary.

 

Supported by industry, investors and government authorities, in 2012 the Association De L'exploration Minière Du Québec ("Québec Mineral Exploration Association" or "AEMQ") initiated the certification project aimed at evaluating and recognizing the responsible practices of mining exploration companies and their service providers. Underwriters Laboratories ("UL"), an independent certification body, developed the ECOLOGO Certification based on AEMQ's initial work.

"UL congratulates O3 Mining on its achievement of ECOLOGO Certification," said Doug Lockard, Vice President and general manager for UL. "The program offers mineral exploration companies  an opportunity to verify their responsible practices and ability to reduce their impact on the environment. We support their commitment to sustainability."

The certification process entailed the verification of 100 indicators encompassing practices on environment, health and safety, governance, community relations, First Nations relations, innovation, contribution to local economy, etc. As O3 Mining moves forward, it intends to continuously improve its sustainability practices.

O3 Mining's President and Chief Executive Officer, Mr. Jose Vizquerra commented, "We are very proud to have been awarded the ECOLOGO Certification. As an exploration company, O3 Mining has taken a proactive approach to sustainability by integrating environmental, social and governance best practices at the heart of our company to create long-term value for our stakeholders. The ECOLOGO certification validates our commitment to sustainable development to our stakeholders and shareholders. We look forward to implementing increasingly sustainable practices as we advance towards our vision."

We would like to thank AEMQ and the team of their coaching program for their collaboration. We greatly appreciate their support and guidance and are grateful for their contribution to the success of our efforts.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multimillion-ounce deposits in Québec.

O3 Mining is well capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The company is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

About UL

UL has been developing standards for Canada for over 100 years and is accredited by the Standards Council of Canada (SCC), an accreditation to deliver standards that promotes sustainable development, benefits the health,safety and welfare of workers and advances national economy.

About AEMQ

The Association De L'exploration Minière Du Québec ("AEMQ") is a non-profit organization that represents players in Québec's mining sector.

Founded in 1975 to increase mining exploration in Québec and support development of Québec's mining entrepreneurship, AEMQ now has 1,200 individual members (prospectors, geologists, geophysicists, brokers, tax experts, attorneys, etc.) and 200 corporate members (junior and major mining exploration companies, mining operation companies, engineering consulting firms in geology and geophysics, drilling companies, service companies, equipment suppliers, etc.).

UL ECOLOGO® Certification for Mineral Exploration
https://canada.ul.com/ulcprograms/explore/ 
https://spot.ul.com/ 

QMEA's coaching program
https://aemq.org/en/certification-about/

SOURCE O3 Mining Inc.

O3 Mining Infill Drilling Continues to Expand Marban In-pit Resource Potential

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Aug. 31, 2021 /CNW/ – O3 Mining Inc. (TSX.V: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to provide an update on its fully-funded 250,000 metre drilling program at its Marban and Alpha properties in Val-d'Or, Québec, Canada which seeks to convert, expand, and discover new gold resources. The Corporation is reporting 13 holes drilled on the Marban project.

Drilling Highlights:

  • 1.9 g/t Au over 12.7 metres in hole O3MA-21-092 located at the bottom of the proposed North North Preliminary Economic Assessment ("PEA") pit;
  • 11.1 g/t Au over 22.2 metres including 103.4 g/t Au over 2.0 metres in hole O3MA-21-135 located in the core of the North North PEA pit, contains multiple gold grains related to quartz veining in felsic intrusion;
  • 10.6 g/t Au over 2.7 metres in hole O3MA-21-107 located 48 metres East and below the North pit;
  • 3.1 g/t Au over 14.8 metres in hole O3MA-21-102 located in the western part of Norlartic PEA pit, starts within the mineralized zone, contains multiple gold grains related to quartz veining in dioritic intrusion;
  • 2.4 g/t Au over 24.7 metres in hole O3MA-21-113 located in the eastern part of the Norlartic PEA pit, starts within the mineralized zone;
  • 1.9 g/t Au over 31.4 metres in hole O3MA-21-116 located at the eastern end of the Norlartic PEA pit.

O3 Mining's President and Chief Executive Officer, Mr. Jose Vizquerra commented, "Our infill drilling program continues to confirm our expectations of being able to expand the gold resources in the Marban open pits. Results from today's release will form part of an updated resource estimate which we expect to release in 2022. The exploration team is doing a great job in expanding gold mineralization which bodes well for the potential to increase the size of our next resource estimate."

The drilling results reported are from the Norlartic and North North deposits with multiple intercepts of mineable grade over more than 10 metres widths confirming the significance of the Norlartic sector at the Marban project.

The infill drilling program at Marban will continue within the Marban, Norlartic, North, and North North PEA pits.

Table 1: Drill Hole Intercepts (only intercepts above 20 g/t Au * m are reported, cut-off 0.3 g/t Au and above 200 vertical metres)

Drill Hole

From
(m)

To
(m)

Interval
(m)

Au (g/t)

Zone

O3MA-21-092

83.8

96.5

12.7

1.9

North North Infill

O3MA-21-095

39.0

52.1

13.1

1.7

O3MA-21-135

33.6

55.8

22.2

11.1

including

34.2

36.2

2.0

103.4

O3MA-21-101

49.5

56.4

6.9

3.4

North Infill

Including

49.5

50.4

0.9

12.9

O3MA-21-107

98.0

100.7

2.7

10.6

North Expansion

Including

98.0

98.9

0.9

30.4

O3MA-21-102

22.2

37.0

14.8

3.1

Norlartic Infill

Including

33.1

33.8

0.7

46.1

O3MA-21-103

27.1

50.3

23.2

1.0

O3MA-21-111

102.6

123.7

21.1

1.5

Including

121.0

122.0

1.0

11.7

O3MA-21-113

18.8

43.5

24.7

2.4

O3MA-21-114

15.2

43.1

27.9

1.9

O3MA-21-116

21.1

52.5

31.4

1.9

O3MA-21-118

14.9

26.5

11.6

1.8

O3MA-21-124

113.2

123.0

9.8

3.9

Figure 1: Marban Project Map

Figure 1: Marban Project Map (CNW Group/O3 Mining Inc.)

Figure 2: Marban Composite Longitudinal-Section

Figure 2: Marban Composite Longitudinal-Section (CNW Group/O3 Mining Inc.)

Drilling Update

The Corporation drilled 86,000 metres during 2019 and 2020 on its Val-d'Or properties testing for Potential Economic Material ("PEM") with 100-metre step-outs aiming to expand current resources of 2.4 million ounces measured and indicated (62.0 Mt @ 1.22 g/t Au)1 and 1.5 million ounces inferred (20.2 Mt @ 2.27 g/t Au)1 and make new discoveries. All intercepts listed in today's news release will be included in an updated resource for Marban which is expected to be released during the second half of 2022.

Figure 3: Marban and Alpha Properties Overview

Figure 3: Marban and Alpha Properties Overview (CNW Group/O3 Mining Inc.)

Marban – Project Development

The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares, and is located 12 kilometres from the Canadian Malartic Mine. The Marban PEA outlined production of an average 115,000 ounces of gold per year over the 15.2 year mine life.

Drilling at Marban has focused on expanding mineralization in and outside of the proposed PEA pit areas, as well as discovering new mineralization for an underground mining scenario. An 80,000 metre drill program is being executed this year, with 32,000 metres drilled so far. There will be up to eight drill rigs testing for PEM, as well as, aiming to convert resources from Inferred to Measured and Indicated, to ultimately become part of Marban's maiden mineral reserve.

A PEA was completed on the project in 2020, and a Pre-Feasibility Study ("PFS") is currently underway and due to be completed in 2022 as the next step to advance the project to production. O3 Mining aims to become a leading gold producer and put the Marban project into production by 2026.

Alpha – Advanced Exploration

The Alpha property is located 8 kilometres east of Val-d'Or, Québec, and 3 kilometres south of the El Dorado Lamaque Mine. The property covers more than 7,754 hectares and includes 20 kilometres of the prolific Cadillac Break. O3 Mining has an option agreement that grants the right to acquire 100 per cent interest in the Aurbel Mill located only 10 kilometres from the Alpha property for C$5.0M within the next five years.

Drilling at Alpha is at an earlier stage than at Marban and has focused on grassroots exploration, deposit delineation, and resource expansion. A 56,000 metre program is being executed this year with  39,000 metres completed year to date. O3 Mining will have up to three drill rigs testing for new discoveries using its PEM drilling strategy as well as focusing on deposit delineation and expansion of the current resource.

1/ Mineral Inventory: i) Marban Technical Report 2020, ii) Orenada Technical Report 2018, iii) Akasaba Technical Report 2014, iv) Simkar Gold Technical Report 2015, v) East Cadillac Technical Report 2017, vi) Sleepy Technical Report 2014

Qualified Person

The scientific and technical content of this news release has been prepared, reviewed, and approved by Mr. Sébastien Vigneau (OGQ #993), Director of Exploration, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Control and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat laboratory in Val-d'Or, Québec, and Mississauga, Ontario for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge. Commercial certified standard material and blanks are systematically inserted by O3 Mining's geologists into the sample chain after every 18 core samples as part of the QA/QC program. Third-party assays are submitted to other designated laboratories for 5% of all samples. Drill program design, Quality Assurance/Quality Control ("QA/QC"), and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The company is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

Download Press Release (CNW Group/O3 Mining Inc.)

O3 Mining (CNW Group/O3 Mining Inc.)

 

SOURCE O3 Mining Inc.

O3 Mining Announces Corporate Updates

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, Aug. 23, 2021 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce the promotion of Myrzah  Bello to the position of Vice President of Sustainable Development and Alex Rodriguez to the position of Vice President of Corporate Development effective September 1, 2021. Additionally, the Corporation has engaged the services of Independent Trading Group ("ITG") to provide market-making services in accordance with TSX Venture Exchange ("TSX-V") policies.

Myrzah Tavares Bello – Vice President, Sustainable Development

Myrzah Tavares Bello has been promoted to the position of Vice President, Sustainable Development and will be based in Montreal, Canada. Ms. Bello will continue to oversee sustainable development initiatives for the Corporation.

Ms. Bello has over 20 years' experience in sustainable development providing consulting services to mining, oil and gas and other sectors. She has facilitated various consultations with different stakeholders in several projects. Ms. Bello managed multi-disciplinary teams when she worked as Director at SNC-Lavalin. She held various roles including leading the climate change group of experts for over 6 years, and managed the environment division in Brazil for over 14 years. She holds a bachelor's in business administration, a Master's in business delivered jointly by Sherbrooke University and ESC Poitiers in France and a Master's in Environment also from Sherbrooke University.  

Alex Rodriguez Tovalino – Vice President, Corporate Development

Alex Rodriguez Tovalino has been promoted to the position of Vice President, Corporate Development and will be based in Toronto, Canada. Mr. Rodriguez will continue to oversee strategic corporate initiatives as well as Investor Relations and Corporate Communications for the Corporation.

Mr. Rodriguez is an economist with over 10 years of experience in the mining industry and capital markets, spanning both corporate development and equity research roles. He led and supported a range of strategic and finance initiatives at Volcan Compania Minera (Glencore Plc subsidiary) as Head of Business Development. Prior to Volcan, Mr. Rodriguez worked at Kallpa Securities SAB in Equity Research focused on the metals and mining sector. He holds a Master of Business Administration from the University of TorontoRotman School of Management.

Market-Making Services

O3 Mining has, subject to regulatory approval, retained the services of ITG to provide market-making services in accordance with the policies of the TSX Venture Exchange. ITG will trade common shares of the Corporation on the TSX Venture Exchange and all other trading venues for the purposes of maintaining a reasonable and orderly market for, and improving the liquidity of, the common shares of the Corporation.

Under the agreement between O3 Mining and ITG, ITG will receive compensation of CAD$6,500 per month, payable monthly in advance. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company. However, clients of ITG may have or may acquire, and ITG and its principals may acquire, a direct interest in the securities of the Corporation. ITG is a member of the Investment Industry Regulatory Organization of Canada (IIROC), and can access all Canadian stock exchanges and alternative trading systems. The capital and securities required for any trade undertaken by ITG as principal will be provided by ITG.

About Independent Trading Group Inc.

Independent Trading Group is Canada's only brokerage firm dedicated specifically to professional trading. As Canada's foremost market-making firm, ITG provides market-making and liquidity provider services that are objective and focused. ITG employs real traders and provides real liquidity, with an underlying emphasis on integrity and success.

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The company is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

SOURCE O3 Mining Inc.

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2020
A Year
in Review

To Our
O3 Mining
Investors

What a year it has been! I want to personally thank you for supporting O3 Mining throughout this unprecedented time. At O3 Mining we experienced a year of tremendous growth as our exploration campaigns surpassed all expectations and we invested significant capital into our projects.

Our Year In Review

2020
A Year
in Review

What a year it has been! I want to personally thank you for supporting O3 Mining throughout this unprecedented time. At O3 Mining we experienced a year of tremendous growth as our exploration campaigns surpassed all expectations and we invested significant capital into our projects.

Our Year In Review