FireFox Gold

O3 Mining Grants Stock Options and Restricted Securities

TORONTO, Aug. 13, 2019 (GLOBE NEWSWIRE) -- O3 Mining Inc. ("O3 Mining" or the "Corporation") (TSXV: OIII) announces that today it has granted to certain officers, directors, employees and/or consultants of the Corporation (i) an aggregate of 2,280,000 options to acquire common shares of the Corporation ("Options"), and (ii) an aggregate of 390,000 restricted share units of the Corporation ("RSUs"). The Options have an exercise price of $3.07 per share, have a five-year term from the date of grant, and vest annually in equal thirds beginning on the date of grant. The RSUs are subject to a three-year cliff vesting period from the date of grant.

Any common shares issuable upon exercises of Options will, in accordance with applicable securities laws, be subject to a hold period expiring four months and one day from the date of grant.

About O3 Mining Inc.

O3 Mining's mission is to become a premier gold exploration company in Canada and an emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Ontario and Québec – with a goal of becoming a multi-million ounce, high-growth company.

O3 Mining is well-capitalized and holds a 100% interest in the Marban Block Project and the Garrison Project. The Marban Block Project is located in the heart of Québec's prolific Abitibi gold mining district and comprised of four contiguous claim groups in the Malartic mining camp – Norlartic, First Canadian, Marban and Gold Hawk – and currently consists of 30 mining claims and three mining concessions that cover 1,023 hectares. The Garrison Project is located in the Larder Lake Mining Division in Northern Ontario and comprised of three main deposits – the Garrcon, Jonpol and 903 deposits – as well as the past-producing Buffonta mine and the Gold Pike mine property.

For further information on O3 Mining, please contact:

José Vizquerra Benavides
President and Chief Executive Officer
(416) 363-8653

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 press release.

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