O3 MINING INC - OIIIF STOCK NEWS

O3 Mining (TSXV: OIII, OTCQX: OIIIF) announced significant drilling results from its Camflo Extension deposit in Val-d'Or, Quebec. The drilling campaign, spanning 6,338 metres, yielded remarkable results, notably 1.1 g/t Au over 94.3 metres and 13.8 g/t Au over 1.1 metres. Historical data indicates that the Camflo deposit produced 1.89 million ounces of gold from 1962 to 1992. The company aims to further explore and develop this mineralized area while balancing financial resources to maximize shareholder returns.

O3 Mining Inc. held its annual and special meeting on June 23, 2022, with 45,072,231 common shares represented, approximately 65.8% of the total outstanding shares. All proposed matters were approved, including:

• Election of all management nominees to the board
• Appointment of PricewaterhouseCoopers LLP as auditors
• Approval of the amended Stock Option Plan, Employee Share Purchase Plan, RSU Plan, and DSU Plan

O3 Mining, part of the Osisko Group, focuses on gold exploration and development in Québec, Canada.

O3 Mining Inc. (TSXV: OIII, OTCQX: OIIIF) provided a progress update on the Marban Engineering Project Pre-Feasibility Study (PFS) as of June 7, 2022. Key highlights include a 50% increase in mill throughput estimates from 4 Mt to 6 Mt per year, completion of geotechnical and metallurgical testing, and ongoing environmental baseline studies. The company is on track to complete the PFS by Q3 2022 and aims for production by 2026. This year, 18,000 metres have been drilled with an additional 40,000 metres planned, focusing on infill and expansion drilling.

O3 Mining Inc. (TSXV: OIII, OTCQX: OIIIF) announced the filing of a technical report updating the mineral resource estimate for its 100% owned Marban Project. The report, prepared by Ausenco Engineering Canada Inc. and G Mining Services, is entitled 'NI 43-101 Technical Report and Mineral Resource Estimate for Marban Engineering, Val-d'Or, Quebec' and is effective as of February 27, 2022. There are no material differences between this report and the previous release dated March 1, 2022, which noted a 29% increase in the open-pit resource.

O3 Mining Inc. (TSXV: OIII, OTCQX: OIIIF) has signed a definitive share purchase agreement to sell its East Cadillac Project in Val-d'Or, Québec to Cartier Resources Inc. The transaction will grant O3 Mining approximately 17.5% ownership in Cartier through the acquisition of 46,273,265 common shares. Additionally, an investor rights agreement will allow O3 Mining to appoint a director to Cartier’s board and includes provisions for pre-emptive rights and a standstill period. Closing is dependent on customary conditions, including TSX Venture Exchange approval.

O3 Mining has announced an updated Mineral Resource Estimate (MRE) for its Marban Project in Val-d'Or, Québec. This MRE reveals a total Open-Pit Mineral Resource of 2.3 million ounces of gold at an average grade of 1.07 g/t Au, marking a 29% increase in Indicated resources. The conversion rate from Inferred to Indicated resources exceeds 100%. The updated resource is based on 507,238 metres of drilling, with plans for an additional 20,000 metres for exploration to increase near-surface resources. The MRE will support a forthcoming Pre-Feasibility Study (PFS).

O3 Mining Inc. has signed a non-binding letter of intent with Cartier Resources Inc. to sell the East Cadillac Project located in Val-d'Or, Québec. In exchange, O3 Mining will receive approximately 46 million common shares of Cartier, representing 17.5% of the pro forma outstanding shares after the transaction closes. The deal is contingent on due diligence and regulatory approvals. O3 Mining aims to strategically monetize its exploration assets while maintaining significant shareholder exposure, aligning with its long-term growth strategy.

O3 Mining Inc. (TSXV: OIII, OTCQX: OIIIF) has announced a deal to sell its remaining 50% interest in the FCI Property in Québec to Patriot Battery Metals. The transaction includes 1.8 million shares of Patriot and a cash payment of C$3 million. This strategic divestment, aimed at enhancing shareholder value without dilution, will bolster O3 Mining's cash position for its 2022 drilling program. The deal is pending standard closing conditions, including Canadian Securities Exchange approval.