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O3 Mining Provides Update on Marban Alliance's Economic Studies and Permitting Process

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O3 Mining announces plans to complete a Preliminary Economic Assessment (PEA) on its Marban Alliance project in Val-d'Or, Québec, with results expected in Q4 2024. G Mining Services will lead the PEA, which will highlight advancements made since the August 2022 Prefeasibility study. The company plans to commence a Feasibility Study in early 2025, with results expected in H2 2025. Environmental baseline studies are set to complete in Q1 2025, followed by Impact Studies starting in Q2 2025. The project optimization includes improvements to mining and processing parameters, resource conversion of current pits, and integration of new satellite deposits like Malartic H.

O3 Mining annuncia i piani per completare una Valutazione Economica Preliminare (PEA) sul suo progetto Marban Alliance a Val-d'Or, Québec, con risultati attesi nel Q4 2024. G Mining Services guiderà la PEA, evidenziando i progressi realizzati dalla studio di Prefattibilità di agosto 2022. L'azienda prevede di avviare uno Studio di Fattibilità all'inizio del 2025, con risultati attesi nel secondo semestre del 2025. Gli studi di base ambientale sono previsti per completarsi nel Q1 2025, seguiti da studi d'impatto che inizieranno nel Q2 2025. L'ottimizzazione del progetto include miglioramenti ai parametri di estrazione e lavorazione, conversione delle risorse delle attuali cave e integrazione di nuovi depositi satellitari come Malartic H.

O3 Mining anuncia planes para completar una Evaluación Económica Preliminar (PEA) en su proyecto Marban Alliance en Val-d'Or, Québec, con resultados esperados para el Q4 de 2024. G Mining Services liderará la PEA, que destacará los avances realizados desde el estudio de Prefactibilidad de agosto de 2022. La compañía planea comenzar un Estudio de Viabilidad a principios de 2025, con resultados esperados para el segundo semestre de 2025. Los estudios de referencia ambiental están programados para completarse en el Q1 de 2025, seguidos de estudios de impacto que comenzarán en el Q2 de 2025. La optimización del proyecto incluye mejoras en los parámetros de extracción y procesamiento, conversión de recursos de las canteras actuales e integración de nuevos depósitos satelitales como Malartic H.

O3 Mining는 퀘벡 Val-d'Or에 있는 Marban Alliance 프로젝트에 대한 예비 경제 평가(PEA)를 완료할 계획을 발표했으며, 결과는 2024년 4분기에 나올 것으로 예상됩니다. G Mining Services가 PEA를 주도하여 2022년 8월 예비타당성 조사 이후의 발전을 강조할 것입니다. 회사는 2025년 초에 타당성 조사를 시작할 계획이며, 결과는 2025년 하반기에 나올 예정입니다. 환경 기초 조사는 2025년 1분기에 완료될 예정이며, 2025년 2분기에는 영향 조사도 시작될 것입니다. 프로젝트 최적화에는 채굴 및 처리 매개변수의 개선, 현재 채굴 구역의 자원 전환 및 Malartic H와 같은 새로운 위성 매장지의 통합이 포함됩니다.

O3 Mining annonce des projets pour réaliser une Évaluation Économique Préliminaire (PEA) sur son projet Marban Alliance à Val-d'Or, Québec, avec des résultats attendus au T4 2024. G Mining Services dirigera la PEA, qui mettra en lumière les avancées réalisées depuis l'étude de Pré-faisabilité d'août 2022. La société prévoit de commencer une Étude de Faisabilité au début de 2025, avec des résultats attendus au deuxième semestre de 2025. Les études de base environnementale doivent être complétées au T1 2025, suivies d'études d'impact qui commenceront au T2 2025. L'optimisation du projet comprend des améliorations des paramètres d'extraction et de traitement, la conversion des ressources des carrières actuelles, ainsi que l'intégration de nouveaux dépôts satellites comme Malartic H.

O3 Mining kündigt Pläne an, eine vorläufige wirtschaftliche Bewertung (PEA) für sein Marban Alliance-Projekt in Val-d'Or, Québec, abzuschließen, mit Ergebnissen, die im vierten Quartal 2024 erwartet werden. G Mining Services wird die PEA leiten, die Fortschritte seit der Machbarkeitsstudie im August 2022 hervorheben wird. Das Unternehmen plant, Anfang 2025 eine Machbarkeitsstudie zu beginnen, wobei Ergebnisse für das zweite Halbjahr 2025 erwartet werden. Umweltreferenzstudien sollen im ersten Quartal 2025 abgeschlossen werden, gefolgt von Auswirkungen Studien, die im zweiten Quartal 2025 beginnen. Die Projektoptimierung beinhaltet Verbesserungen der Bergbau- und Verarbeitungsparameter, die Ressourcenumsetzung bestehender Gruben und die Integration neuer Satellitenvorkommen wie Malartic H.

Positive
  • Project optimization includes mining and processing improvements
  • Additional resources from current pits conversion and new satellite deposits
  • Strategic location near existing processing facilities in Val-d'Or
Negative
  • Project still in early economic assessment phase
  • Full feasibility study not expected until H2 2025
  • Environmental and regulatory approvals pending

TSXV:OIII | OTCQX:OIIIF - O3 Mining

TORONTO, Oct. 30, 2024 /PRNewswire/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") announces that it will be completing a preliminary economic assessment ("PEA") on the Corporation's flagship Marban Alliance project in Val-d'Or, Québec ("Marban Alliance"). The Corporation has engaged G Mining Services Inc. as the lead consultant for the PEA, which will be prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. O3 Mining expects that results from the PEA will be available in the fourth quarter of 2024. These results are expected to highlight the advancements made on Marban Alliance since the effective date of the current Prefeasibility study (being August 24, 2022) and provide updated guidance for use in a Feasibility Study on the Marban Alliance Project that is expected to commence in early 2025. In addition, the Corporation is expecting the environmental baseline studies to be completed in the first quarter of 2025 following comprehensive field work gathered over a period of three years. Assuming positive results, the Corporation intends to commence Impact Studies in second quarter of 2025.

O3 Mining's President and Chief Executive Officer, Mr. José Vizquerra commented: "Since the publication of the Marban Alliance prefeasibility study in 2022, our technical team has been committed to improving and optimizing the mining project. This includes, among others, optimizations to our mining and processing parameters, inclusion of additional resources from resource conversion of current pits, as well as new satellite deposits such as Malartic H. This PEA will provide an updated picture of the merits of developing the Marban Alliance project and provide insights on the Feasibility Study expected to be completed in the second half of 2025. Additionally, we have made progress on our environmental and permitting processes, with the baseline study in its final stage, which will allow us to initiate our Impact Studies in parallel with the Feasibility Study. We will continue to develop the Marban Alliance project by focusing on win-win opportunities for our partners, host communities, and shareholders. To that end, we are committed to developing the Marban Alliance project on a sustainable basis for local and regional stakeholders. With this in mind, O3 Mining is well-positioned to benefit from de-risking the Marban Alliance project while remaining flexible on evaluating options in the development due to the location of our project in Val-d'Or among existing processing facilities."

Marban Alliance Guidance

  • Q4-2024: Announce Marban Alliance PEA results
  • Q1-2025: Completion of environmental baseline studies
  • H2-2025: Announce Marban Alliance Feasibility Study results
  • Q1-2026: Filing of Marban Alliance Impact Studies

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 (111,000 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: the timing of commencement and completion and the results of studies, including the PEA, environmental baseline studies, a feasibility study and impact studies; continued development of the Marban Alliance project; the Marban Alliance project being integrated positively and sustainably on a local and regional scale; the Corporation being on the road to production; the Corporation becoming a gold producer with several multi-million-ounce deposits in Québec; and the ability of the Corporation to deliver superior returns to its shareholders and long-term benefits to its stakeholders. 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 results of studies; the ability of exploration activities (including drilling) to accurately predict mineralization; errors in management's modelling; the ability of any material to be mined in a matter that is economic; the Corporation's ability to obtain any necessary permits, consents or authorizations required for its planned activities; the Corporation's ability to raise the necessary capital or to be fully able to implement its business strategies; and the price of gold. 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.

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SOURCE O3 Mining Inc.

FAQ

When will O3 Mining (OIIIF) release the Marban Alliance PEA results?

O3 Mining expects to release the Preliminary Economic Assessment (PEA) results for the Marban Alliance project in the fourth quarter of 2024.

What is the timeline for O3 Mining's Marban Alliance Feasibility Study?

The Feasibility Study is expected to commence in early 2025, with results anticipated in the second half of 2025.

When will O3 Mining complete the environmental baseline studies for Marban Alliance?

The environmental baseline studies are expected to be completed in the first quarter of 2025, following three years of comprehensive field work.

Where is O3 Mining's Marban Alliance project located?

The Marban Alliance project is located in Val-d'Or, Québec.

O3 MINING INC

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