and complete transactions on terms announced; as required by law, O3 - PowerPoint PPT Presentation

This presentation (the "Presentation") contains expand mineral resources beyond current cave-ins and flooding); inability to obtain "forward-looking information" and "forward- mineral resource estimates; opportunities for adequate insurance to cover risks and hazards; looking statements" (collectively, "forward-looking growth of mineral projects; estimates of gold the presence of laws and regulations that may statements") within the meaning of the applicable prices; the ability to adapt to changes in gold impose restrictions on mining; employee Canadian securities legislation. All statements, prices; estimates of costs, estimates of planned relations; relationships with and claims by local other than statements of historical fact, are exploration and development expenditures and communities and indigenous populations; forward-looking statements and are based on estimates of mine development and construction. availability of increasing costs associated with expectations, estimates and projections as at the All forward-looking statements entail various risks mining inputs and labour; the speculative nature date of this Presentation. Any statement that and uncertainties that are based on current of mineral exploration and development involves discussions with respect to predictions, expectations and actual results may differ (including the risks of obtaining necessary expectations, beliefs, plans, projections, materially from those contained in such licenses, permits and approvals from government objectives, assumptions, future events or information. authorities); and title to properties. performance (often but not always using phrases such as "expects", or "does not expect", "is These uncertainties and risks include, but are not Risks and uncertainties about the businesses of expected", "anticipates" or "does not anticipate", limited to, risks relating to the ability of O3 Mining are more fully discussed in the "plans", "budget", "scheduled", "forecasts", exploration activities (including drill results) to disclosure materials filed with the securities "estimates", "believes" or "intends" or variations accurately predict mineralization; errors in regulatory authorities in Canada, which are of such words and phrases or stating that certain management's geological modelling; the ability of available on SEDAR (www.sedar.com) under the actions, events or results "may" or "could", O3 Mining to complete further exploration issuer profile of O3 Mining. Readers are urged to "would", "might" or "will" be taken to occur or be activities, including drilling; property interests in read these materials and should not place undue achieved) are not statements of historical fact and the assets being contributed to O3 Mining; the reliance on any forward ‐ looking statement and may be forward-looking statements. ability of O3 Mining to obtain required approvals information contained in this Presentation. Except and complete transactions on terms announced; as required by law, O3 Mining assumes no In this Presentation, forward-looking statements the results of exploration activities; risks relating obligation to update the forward ‐ looking relate, among other things: completion of the to mining activities; fluctuations in spot and statements of beliefs, opinions, projections, or Alexandria Acquisition (if at all); the pro-forma forward prices of gold, silver, base metals or other factors, should they change, except as ownership of the resulting issuer; the certain other commodities; fluctuations in required by law. continuation of the resulting issuer from British currency markets (such as the Canadian dollar to Columbia to Ontario; the value of the contributed United States dollar exchange rate); change in Unless otherwise noted, this Presentation has assets; O3 Mining being well-capitalized; O3 international, national and local government, been prepared based on information available as Mining being well-positioned as a premier gold legislation, taxation, controls, regulations and of May 22, 2020. exploration company in Canada and an emerging political or economic developments; risks and consolidator of exploration properties in hazards associated with the business of mineral References in this Presentation to "O3 Mining" prospective gold camps in Canada; developer exploration, development and mining (including includes O3 Mining Inc. and its subsidiaries. valuations; indicative market capitalizations; re- environmental hazards, industrial accidents, rating potential; mineral inventory; our ability to unusual or unexpected formations pressures,

the profile of Chalice Gold Mines Limited. For details regarding the key assumptions, This Presentation contains information regarding parameters and methods used to estimate the mineral resources estimated at the projects of the mineral resources presented in respect of the companies referenced herein. Mineral resources The scientific and technical content of this news Marban project, please see the technical report are not mineral reserves and do not have release has been reviewed, prepared and titled "Updated Mineral Resource Technical Report, demonstrated economic viability. The estimate of approved by Mr. Louis Gariépy, P.Geo Marban Block Project, Québec, Canada" , dated July mineral resources may be materially affected by (OIQ #107538), Vice President Exploration, who is 28, 2016 (effective date of June 13, 2016) environmental, permitting, legal, title, socio- a "qualified person" as defined by National prepared by Belize Solutions Inc. for NioGold political, marketing or other relevant issues. In Instrument 43-101 – Standards of Disclosure for Mining Corp., which has been filed on SEDAR particular, the quantity and grade of reported Mineral Projects ("NI 43-101"). (www.sedar.com) under O3 Mining's issuer profile inferred mineral resources in the estimates (the " Marban Technical Report "). referenced in this Presentation are uncertain in nature and there is insufficient exploration to For details regarding the Orenada, Akasaba and define these inferred mineral resources as an Sleepy deposits may be found in the reports indicated or measured mineral resource in all prepared pursuant to National Instrument 43-101 cases. It is uncertain in all cases whether further entitled “NI 43 -101 technical report and updated exploration will result in upgrading the inferred mineral resource estimate for the Orenada Zone mineral resources to an indicated or measured 2 and 4 project, Orenada group properties” dated mineral resource category. July 20, 2018 (effective date: July 6, 2018), “NI 43 - 101 technical report on the Akasaba project” For details regarding the key assumptions, parameters and methods used to estimate the dated March 1, 2013” and “NI 43 -101 technical mineral resources presented in respect of the report on the Sleepy Lake property”, dated Garrison project, please see the technical report November 25, 2014, which are filed on titled "A Mineral Resource Estimate for the Garrcon, www.sedar.com under the profile of Alexandria Jonpol and 903 Zones at the Garrison Project, Minerals Corporation Garrison Township, Black River – Matheson Area, For details regarding the East Cadillac Gold Northeastern Ontario" dated April 4, 2019 deposit may be found in the report prepared (effective date of February 19, 2019) prepared by pursuant to National Instrument 43-101 entitled Micon International Limited for Osisko and O3 “2019 technical report and mineral resource Mining, which has been filed on SEDAR estimate, East Cadillac Gold Project, Val d’Or, (www.sedar.com) under O3 Mining's issuer profile Quebec”, dated June 7, 2019 (effective date: April (the " Garrison Technical Report "). 30, 2019), which is filed on www.sedar.com under

Under- explored land position in the Val D’Or area, which produced four World class deposits and 30Moz Au $6.70 $5.93 50,000 metre drill program in three initial targets $5.16 Marban’s Preliminary Economic Assessment results in Q3 2020 $4.39 Six existing deposits with 5.2 Moz Au 1 $2.50 Aurbel is strategically located 10Km from our Alpha resources C$20.8M in cash 2 Current EV/Au Res. EV/Au Res. EV/Au Res. EV/Au Res. 3 Share Price (US$30/oz) (US$35/oz) (US$40/oz) (US$45/oz) Looking to repeat Windfall success Stock Price Upside Potential on EV/oz 4 1/ Mineral inventory – Appendix (NI 43-101 Technical Reports) 3/ Share price as of May 22, 2020 2/ Cash and investments as of March 31,2020 4/ FX Rate US$ to C$: 0.7145

ANALYST COVERAGE In-situ Valuation vs Analysts Valuation CIBC Capital Markets (C$M) National Bank Canaccord Genuity VIII Capital Stifel | GMP Red Cloud Securities 0.2 MOz 1.2 MOz 5.2 MOz 2.0 MOz 1.8 MOz 1 1 1 1 1 2 3 1/ In-situ valuation: Global in-situ mean of US$35/oz – FX Rate of 0.7145 (May 22, 2020) 2/ Analysts Valuation: Average NAV (CIBC Capital Markets, National Bank, Canaccord, VIII Capital, Red Cloud Securities, and Stifel|GMP) 3/ Market Capitalization as of May 22, 2020

TSX.V: OIII 47.2% 39.9% 6.6% 6.3% 1/ As of May 22, 2020 2/ Cash and investments as of March 31,2020