O3 Mining Files Closeout Early Warning Report in Respect of NewOrigin Gold Corp.

TSXV: OIII | OTCQX:OIIIF - O3 Mining

TORONTO, March 5, 2024 /CNW/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") announces that it has filed a closeout early warning report in respect of its holdings of common shares ("NewOrigin Shares") of NewOrigin Gold Corp. ("NewOrigin"). On March 5, 2024, O3 Mining by way of a series of trades through the facilities of the TSX Venture Exchange, disposed of an aggregate of 6,600,000 NewOrigin Shares, representing approximately 11.6% of the issued and outstanding NewOrigin Shares, for aggregate gross proceeds of $74,910 (or $0.01135 per NewOrigin Share) (the "Disposition").

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

Immediately prior to giving effect to the Disposition, O3 Mining had control or direction over 6,600,000 NewOrigin Shares, representing approximately 11.6% of the outstanding NewOrigin Shares on a basic basis (assuming 56,891,681 NewOrigin Shares are outstanding as of the date hereof). Immediately after giving effect to the Disposition, the Corporation no longer holds, directly or indirectly, nor exercises control or direction over, any NewOrigin Shares. Accordingly, except as may be required under relevant securities laws, the Corporation will no longer file insider reports or early warning reports in respect of its ownership of securities of NewOrigin.

Depending upon market conditions and other factors, the Corporation may, from time to time, acquire securities of NewOrigin in the open market, by private agreement or otherwise, or acquire interests in or enter into related financial instruments involving a security of NewOrigin. Except as may be required under relevant securities laws, the Corporation is under no obligation to update this disclosure following the date hereof.

This news 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 March 5, 2024. The early warning report respecting the Disposition has been filed on SEDAR+ (www.sedarplus.ca) under NewOrigin's issuer profile. To obtain a copy of the early warning report filed by the Corporation, please contact Alex Rodriguez at 1 [phone] (Toll Free) or refer to SEDAR+ (www.sedarplus.ca) under NewOrigin's issuer profile.

About O3 Mining Inc.

O3 Mining Inc. 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 and expertise of a team of industry leaders as it grows towards becoming 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 (75,000 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.

José Vizquerra | CEO, President & Director, [email protected]; Alex Rodriguez | Vice President, Corporate Development, [email protected], Telephone: [phone], Toll Free: [phone]