O3 Mining Intersects 9.6 g/t Au over 6.2 Metres at Norlartic Extension, Marban Alliance

TSXV:OIII | OTCQX:OIIIF - O3 Mining

TORONTO, Feb. 22, 2024 /CNW/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has received initial results from its 2,886 metre infill drilling campaign completed between November 2023 and January 2024 on the Norlartic Extension area within the Marban Alliance project, in Val-d'Or, Québec, Canada.

Highlights:

Figure 1: Photos of visible gold at 48.0 metres in hole O3MA-23-539 (CNW Group/O3 Mining Inc.)

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

Figure 3: Location of significant intercepts at Norlartic Extension (CNW Group/O3 Mining Inc.)

O3 Mining News Release PDF (CNW Group/O3 Mining Inc.)

• 9.6 g/t Au over 6.2 metres in hole O3MA-23-539 at a vertical depth of 36 metres, including 104 g/t over 0.5 metre on Norlartic Extension
  
  
• 3.7 g/t Au over 5.9 metres in hole O3MA-23-539 at a vertical depth of 21 metres on Norlartic Extension
  
  
• 1.2 g/t Au over 17.2 metres in hole O3MA-23-546 at a vertical depth of 106 metres on Norlartic Extension

O3 Mining's President and Chief Executive Officer, Mr. José Vizquerra commented: "These new intercepts from our 2023 infill drilling program at Marban Alliance will provide additional data to advance our understanding of the existing resources at Marban Alliance. Located at the Norlartic Extension deposit, these results strengthen our confidence in expanding the Norlartic Extension satellite pits in our anticipated Feasibility Study. We will continue to report on results from our winter drilling campaign in the Marban Alliance project as assays are received."

The 2023 drilling campaign on the Norlartic Extension focused on best intercepts of the 2022 drilling campaign (see news releases of O3 Mining dated (i) July 6, 2022 and entitled "O3 Mining Intersects 2.3 g/t Au Over 14.8 Metres Outside Resource Pit Shells at Marban Engineering", and (ii) February 27, 2023 and entitled "O3 Mining Intersects 3.7 g/t Au over 11.0 Metres at Norlartic Extension, Marban Engineering"). In the area adjacent to the main Marban pit, three satellite pits were defined in the Corporation's pre-feasibility study using only historical drilling. A strike length of 200 metres hosting multiple Norlartic Extension dyke swarms was drilled down to 250 metres vertical at a spacing of 40 metres, corresponding to the drill spacing used elsewhere on the property. The results released today along with those from 2022 show two near-surface mineralized lenses of at least 200 metres long each. Complete assay results for nine of the 18 drill holes from this campaign have been received to date. Once all assays are received, the 2022 and 2023 results on Norlartic Extension will be integrated into an updated mineral resource estimate to be used in a future feasibility study on the Marban Alliance project.

The dyke swarm hosting the gold mineralization at Norlartic Extension is geologically identical to the one hosting the Norlartic and Kierens mineralization. They correspond to mafic and intermediate fine-grained dykes, which have been successfully traced along a two-kilometre trend and serve as a marker to the mineralized corridor.

Table 1: Near Surface Drill Hole Intercepts. Only intercepts with metal factor above 5.0 (g/t Au x metres) are reported, cut-off 0.3 g/t Au and above 200 metres from surface. See Table 2 below for full technical parameters.

Hole	From	To	Grade	Core Length	Vertical Depth	Zone
	(m)	(m)	(g/t Au)	(m)	(m)
O3MA-23-532	26	34	0.9	8	25	Norlartic Extension
	91.6	102.8	0.9	11.2	83
O3MA-23-535	101.7	105	1.5	3.3	81
O3MA-23-537	48.7	50.1	5.3	1.4	36
	59.7	63	2.1	3.3	46
O3MA-23-539	25.1	31	3.7	5.9	21
	43.7	49.9	9.6	6.2	36
Including (VG*)	47.8	48.3	104	0.5	36
O3MA-23-546	111.2	128.4	1.2	17.2	106
O3MA-23-548	133.9	137.3	2.1	3.4	117
	154	161.9	0.9	7.9	136

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.

*Interval where gold was visually observed

Figure 1: Photos of visible gold at 48.0 metres in hole O3MA-23-539

Figure 2: Marban Alliance Project Map

Figure 3: Location of significant intercepts at Norlartic Extension

Table 2: Technical parameters of holes of the 2023-2024 campaign at Norlartic Extension

Hole	Azimuth (°)	Dip (°)	Start Depth (m)	End Depth (m)	Length  (m)	UTM Zone 18 Easting (m)	UTM Zone 18 Northing (m)	Assays Status
O3MA-23-532	207	-56	0	213	213	278089	5336567	All Received
O3MA-23-533	198	-47	0	189	189	278028	5336548	All Received
O3MA-23-534	198	-73	0	117	117	277950	5336510	All Received
O3MA-23-535	213	-53	0	147	147	277984	5336475	All Received
O3MA-23-536	207	-57	0	132	132	278069	5336453	All Received
O3MA-23-537	208	-52	0	117	117	278013	5336435	All Received
O3MA-23-538	207	-56	0	132	132	278038	5336494	All Received
O3MA-23-539	204	-50	0	120	120	278105	5336435	All Received
O3MA-23-540	198	-46	0	120	120	278120	5336409	All Received
O3MA-23-541	207	-47	0	126	126	278159	5336391	Partial
O3MA-23-542	203	-52	0	156	156	278177	5336428	All Pending
O3MA-23-543	206	-58	0	198	198	278205	5336453	All Pending
O3MA-23-544	210	-55	0	171	171	278069	5336531	All Pending
O3MA-23-545	207	-57	0	192	192	278098	5336507	Partial
O3MA-23-546	207	-62	0	204	204	278113	5336530	Partial
O3MA-23-547	213	-46	0	222	222	278161	5336528	Partial
O3MA-23-548	206	-60	0	222	222	278161	5336528	Partial
O3MA-24-582	216	-55	0	109	109	278209	5336384	All Pending

2024 Infill Drilling Campaign Update

The 2024 infill drilling campaign at Marban Alliance mainly focuses on the Malartic H deposit to convert inferred in-pit resources into the indicated category. The ongoing Malartic H program consists of approximately 28,000 metres of drilling, and approximately 10,000 metres of core are currently awaiting assay results.

Qualified Person

The scientific and technical content of this news release has been prepared, reviewed, and approved by Mr. Sébastien Vigneau, P.Geo. (OGQ #993), Principal Geologist of O3 Mining, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Assurance/Quality Control

O3 Mining reviewed all available QA/QC reports, downhole deviations and dips, collar location, original logs and available laboratory certificates. O3 Mining individualy inspected and validated all of mineralized intervals in drill holes core.

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.

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. Forward-looking statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling. 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. Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements Forward-looking information is based on 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 drill results at Norlartic Extension; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. 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 believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. 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. These statements speak only as of the date of this news release.  

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.

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