Toronto, February 4, 2021 – O3 Mining Inc. (TSX.V: OIII; OTCQX: OIIIF)(“O3 Mining” or the “Corporation”) is pleased to provide new drilling results from the Marban project on its Malartic Property in Val-d’Or, Québec, as part of its well-funded 150,000 metre drilling program.

Current drilling on the Marban project focuses on expanding mineralization outside of the proposed pit areas outlined in the Preliminary Economic Assessment (“PEA”) released on September 08, 2020.

The 2020-2021 drilling program consists of 50,000 metres to test extensions of the deposits and zones outside of the PEA pit areas. New drilling results from seven drill holes include:

03 Mining – Marban Drilling Highlights:

• 1.2 g/t Au over 9.7 metres in hole O3MA-20-012 and 2.0 g/t Au over 5.4 metres in hole O3MA-20-015 in a new zone named Golden Bridge Zone
• 1.5 g/t Au over 6.3 metres in hole O3MA-20-028 near-surface outside of Kierens PEA pit shell
• 34.8 g/t Au over1.2 metres in hole O3MA-20-013 near-surface inside the Kierens PEA pit shell
• 13.5 g/t Au over1.3 metres and 2.8 g/t Au over 4.3 metres in hole O3MA-20-013 associated with albitised dykes
• 4.6 g/t Au over 1.2 metres in hole O3MA-20-012, including 9.6 g/t Au over 0.5 metre at Gold Hawk

A 3D-model of the Malartic property and the Marban project is available on the Company’s website athttps://o3mining.com/presentations/drill-results.

Management comments

“Late last year, we published a positive PEA on Marban and committed to making it even better through continued exploration.

 

By investing the time and money into our drill program we continue to grow the various Marban deposits and the results will be included with the next resource update, which will underline how the development of Marban is becoming an even more attractive possibility.

 

Drilling has successfully intercepted mineralization in new areas including what we think is a new parallel structure to Marban called Golden Bridge, which after more work, could be brought into the project economics and further add to the benefits of a future production scenario”

 

President and CEO José Vizquerra.

The new Golden Bridge zone discovery is defined by three drill holes covering an area of 175 metres by 100 metres at 175 metres vertical depth and remains open to the west, at depth, and up to the surface.

O3 Mining believes that the near surface Golden Bridge zone offers the potential to generate a new open pit resource, just 200 metres from the PEA Norlartic pit.

Initial interpretation suggests that the Golden Bridge zones are associated with an east-west trending splay of the Marbenite and Norbenite shears. If proven, this would offer a lateral exploration potential of an additional 650 metres along the Golden Bridge structure.

The two intercepts associated with albitized dykes inO3MA-20-013are 65 meters apart in the hole and are located at a vertical depth of 450 metres on average. The zones remain open laterally and at depth.

Figure 1: Malartic Property Drilling Map

03 Mining Malartic project location map

Figure 2: Marban Project Drilling Map

03 Mining Marban Project Drilling Map

Figure 3: Longitudinal Section – NE

03 Mining Marban Project Longitudinal Section – NE

About O3 Mining Inc.

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer ready 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 (133,557 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 a thttps://o3mining.com/

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