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TSXV:OIII| OTCQX:OIIIF – O3 Mining
TORONTO, July 11, 2024 /PRNewswire/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation“) is happy to announce that it has closed a transaction to promote a 100% hobby in its Matachewan and Wydee Houses, situated inside of 10 kilometres distance to the Younger-Davidson Mine of Alamos Gold Inc. (“Alamos Gold“) to Alamos Gold in alternate for money attention of C$3,500,000 and the retention by way of O3 Mining of a 1.0% web smelter returns royalty on all steel manufacturing from the claims constituting the Matachewan and Wydee homes.
O3 Mining’s President and Important Govt Officer, Mr. José Vizquerra commented: “As we focus our efforts on the development of our flagship Marban Alliance project, the sale of the Matachewan and Wydee properties aligns with our strategic goal of optimizing our asset portfolio. This transaction allows us to reallocate resources and advance Marban Alliance, which holds significant potential for growth and value creation for our shareholders. We are pleased to work with Alamos Gold on this transaction and believe that its acquisition of Wydee and Matachewan will fit well into its portfolio as the two properties are located just 10 kilometres distance from the Young–Davidson mine.”
The Matachewan and Wydee homes are situated to the east and west, respectively, of town of Matachewan, Ontario, a ancient gold mining the town situated on the western finish of Ontario Freeway 66 alongside the Montreal River. Town is situated roughly 75 kilometres southeast of Timmins, Ontario and 60 kilometres southwest of Kirkland Puddle, Ontario, being 3 kilometres west of Alamos Gold’s Younger-Davidson Mine, which has been in manufacturing since 2012.
The Company received the Matachewan and Wydee homes as a part of its acquisition of Alexandria Minerals Company in 2019. The transaction represents every other step that O3 Mining is taking in opposition to simplifying its asset portfolio and adorning center of attention on Marban Alliance.
Figure 1: Map of the Matachewan and Wydee Properties
About O3 Mining Inc.
O3 Mining Inc. is a gold explorer and mine developer at the street to build from its extremely potential gold camps in Québec, Canada. O3 Mining advantages from the assistance and experience of a workforce of business leaders because it grows in opposition to turning into a gold manufacturer with a number of multi-million-ounce deposits in Québec.
O3 Mining is well-capitalized and owns a 100% hobby in all its homes (107,000 hectares) in Québec. O3 Mining trades at the TSX Mission Trade (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Company is concerned with handing over admirable returns to its shareholders and long-term advantages to its stakeholders. Additional knowledge will also be discovered on our site at https://o3mining.com.
Neither the TSX Mission Trade nor its Law Products and services Supplier (as that promise is outlined within the insurance policies of the TSX Mission Trade) accepts accountability for the adequacy or accuracy of this information let go. Deny book alternate, securities fee or alternative regulatory authority has authorized or disapproved the ideas contained herein.
SOURCE O3 Mining Inc.
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