TORONTO, July 11, 2024 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation“) is pleased to announce that it has closed a transaction to sell a 100% interest in its Matachewan and Wydee Properties, located within 10 kilometres distance to the Young-Davidson Mine of Alamos Gold Inc. (“Alamos Gold“) to Alamos Gold in exchange for cash consideration of C$3,500,000 and the retention by O3 Mining of a 1.0% net smelter returns royalty on all metal production from the claims constituting the Matachewan and Wydee properties.
O3 Mining’s President and Chief Executive 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…
