Steppe Gold Discovers Multiple High Grade Zinc Zones Below ATO Gold Deposits

Steppe Gold Discovers Multiple High Grade Zinc Zones Below ATO Gold Deposits

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is extremely pleased to announce the following exploration drilling update at its 100%-owned Altan Tsagaan Ovoo ("ATO") project.

While we continue to ramp up production of gold and silver from the oxide ores at ATO, the Company maintained exploration activity in late 2021, focused on extensional and step-out targets. Results are now available, and this underscores the long held view that the ATO project has strong long term potential and remains open to support further drilling targets.

HIGHLIGHTS:

  • Exceptional high-grade zinc continues to be discovered beneath the ATO Gold Deposits
  • Follow up drilling to commence with up to three drilling rigs utilized
  • Better results include:
    • 20.95m at 10.56% Zinc and 3.13% Lead from 347.65m (ATO-364)
    • 15m at 8.0% Zinc and 5.87% Lead from 371m (ATO-379)
    • 55.4m at 4.23% Zinc and 1.83% Lead from 98.5m (ATO-391)
    • 10.62m at 9.2% Zinc and 4.3% Lead from 201.15m (ATO-396)
    • 23.5m at 6.28% Zinc and 1.63% Lead from 396m (ATO-423)

Recent drilling completed at the ATO Gold Deposits has continued to target depth extensions of the existing ATO deposits.

This has resulted in an exciting new discovery of multiple high grade zinc sulphide intercepts beneath the existing ATO Gold Deposits. The drilling results are extremely encouraging, and the Company intends to follow this up with an extensive drilling program in the coming months.

President and CEO of Steppe Gold, Bataa Tumur-Ochir commented, "We are very pleased to announce these exciting drill results with high grade intercepts of zinc and lead supporting our view that the Phase 2 Expansion at ATO has much further to go. Our 2021 Feasibility Study demonstrated robust economics focused on strong gold and silver content in the sulphide zones. These drilling results provide further encouragement that there is high grade zinc and lead in situ. With well-established logistics from the site to the nearby Chinese border this adds to our confidence in the long-term viability of ATO with multiple revenue streams."

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Figure 1. Drill holes ATO-327, ATO-330, ATO-394, & ATO-379 section and plan map

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Figure 2. Drill holes ATO-391, ATO-383, & ATO-384 section and plan map

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Figure 3. Drill hole ATO-423 section and plan map

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Figure 4. Drill hole ATO-423 section and plan map

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Figure 5. Drill holes ATO-393, ATO-364, ATO-385, & ATO-357 section and plan map

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Figure 6. Drill holes ATO-328 & ATO-299 section and plan map

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Figure 7. High grade, zinc mineralization intersected in ATO-423 & ATO-299.

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Table 1. Significant base metal Intercepts

DepositHole IDInterval (m)Zn (%)Pb (%)From (m)To (m)
ATO-1ATO-36420.9510.563.13347.65368.6
ATO-3791585.87371386
ATO-38394.691.58429438
ATO-38442.43.813.28110.6153
ATO-38526.24.812.36216.1242.2
ATO-2ATO-39155.44.231.8398.5154
ATO-393114.602.53138149
ATO-394136.323.8975.688.5
24.42.991.29103.7128
ATO-39610.69.204.30201.15211.8
ATO-419183.591.78207225
ATO-3278.65.543.0879.488
ATO-33011.74.692.89106.3118
ATO-4ATO-29976.233.50152159
ATO-326115.452.70101112
ATO-3287.69.494.59424.2431.8
ATO-3577.74.302.08255262.7
ATO-42323.56.281.63396419.5
ATO-4337.45.302.70345352.4

 

15 Minute Shareholder Summit Today:

To learn more about this exploration update and upcoming Steppe Gold catalysts, please join our CEO and EVP, for a quick shareholder brief at 8:30 am EST, by registering here: https://t.co/nTdxts0m01.

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Live Soon from Mongolia- 15 Minute Shareholder Brief

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The technical and geoscientific content of this release has been compiled, reviewed and approved by Enkhtuvshin Khishigsuren, Vice President of Exploration and a "Qualified Person" as defined in NI-43-101.

Steppe Gold Limited

Steppe Gold is Mongolia's premier precious metals company.

For Further information, please contact:

Bataa Tumur-Ochir, CEO and President

Shangri-La office, Suite 1201, Olympic Street
19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Tel: +976 7732 1914

Cautionary Note Regarding Forward-Looking Statements:

The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include, among other things, statements regarding the trading of the Common Shares and business, economic, and political conditions in Mongolia. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release

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Agnico Eagle and O3 Mining Issue Final Reminder to Tender to Agnico Eagle's All Cash 58% Premium Offer Expiring January 23, 2025

  • Offer is expiring on January 23, 2025
  • Agnico is committed to the Offer at $1.67 in cash, which represents a 58% premium to O3 Mining's closing price on December 11, 2024
  • 39% of outstanding shares of O3 Mining signed lock-up agreements to tender to the Offer
  • Offer unanimously recommended by Board and Special Committee of O3 Mining
  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email assistance@laurelhill.com

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") and O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining") provide O3 Mining shareholders with a final reminder to tender to Agnico Eagle's friendly all cash offer to acquire 100% of the common shares of O3 Mining ("Common Shares") at $1.67 per share (the "Offer"), which is expiring on January 23, 2025 at 11:59 pm (EST) .

O3 Mining Inc. Logo (CNW Group/O3 Mining Inc.)

Tender Shares for Prompt Payment

O3 Mining shareholders are strongly encouraged to tender their Common Shares to the Offer prior to January 23, 2025 to ensure prompt receipt of the Offer price of $1.67 per Common Share. If the conditions to the Offer are satisfied or waived by the expiry time, Agnico Eagle will take-up and pay for any Common Shares tendered prior to expiry by January 28, 2025 .

All directors and officers of O3 Mining and several of O3 Mining's largest shareholders, representing approximately 39% of the issued and outstanding Common Shares, entered into lock-up agreements under which they agreed to tender their Common Shares to the Offer.

O3 Mining shareholders are encouraged to tender their Common Shares as soon as possible to ensure intermediaries have sufficient time to process their requests. The board of directors of O3 Mining continues to unanimously recommend that O3 Mining shareholders tender their Common Shares to the Offer.

Agnico Eagle's Intentions

Agnico is committed to the Offer at $1.67 . Assuming the 66 2/3% minimum tender condition for the Offer is satisfied or waived, Agnico Eagle intends to complete the Offer and acquire 100% of any remaining Common Shares in a second-step transaction. Agnico Eagle is not required to reach a 90% tender threshold under the Offer to acquire 100% of O3 Mining. The closing of the second-step transaction and the payment for any Common Shares acquired thereunder is not expected to occur before the second quarter of 2025.

How do I tender my Common Shares?

Shareholder   Type

How do I tender my Common Shares?

Beneficial Shareholders – Most shareholders
are beneficial shareholders. This means your
Common Shares are held through a broker,
bank or other intermediary, and you do not have
a share certificate or DRS advice

Contact your bank or your broker
immediately and instruct them to tender
your Common Shares to the Offer

Registered Shareholders – You are a
registered shareholder if you hold your Common
Shares directly (through a share certificate, DRS
advice or other method of direct ownership)

Contact Laurel Hill Advisory Group:

Phone:       1-877-452-7184 (toll-free)
Email: assistance@laurelhill.com

If you have any questions or require any assistance with tendering your Common Shares to the Offer, please contact our Depositary and Information Agent:

Laurel Hill Advisory Group

North American Toll-Free:       1-877-452-7184
Outside North America :          +1-416-304-0211
E-mail: assistance@laurelhill.com

Visit us at www.agnicoeagle.com/Offer-for-O3-Mining to receive the most up-to-date information about the Offer.

About O3 Mining Inc.

O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada , adjacent to Agnico Eagle's Canadian Malartic mine. O3 Mining owns a 100% interest in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance project in Québec, which O3 Mining has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders.

About Agnico Eagle Mines Limited

Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada , Australia , Finland and Mexico , with a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements.

Forward-looking statements in this news release include, but are not limited to, statements regarding: the Offer, including the anticipated timing of expiration, mechanics, take up, funding, completion and settlement; the ability of Agnico Eagle to complete the transactions contemplated by the Offer; the satisfaction or waiver of the conditions to consummate the Offer; a second step transaction pursuant to which Agnico Eagle may acquire 100% of O3 Mining, including the satisfaction or waiver of the conditions to consummate such second step transaction. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that all conditions to completion of the Offer will be satisfied or waived; the ability of Agnico Eagle to acquire 100% of the Common Shares in a subsequent transaction; the decision by Agnico Eagle to extend, or not, the expiry time of the Offer; that any conditions to a subsequent second-step transaction will be satisfied or waived. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Download Press Release (CNW Group/O3 Mining Inc.)

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SOURCE O3 Mining Inc.

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Agnico Eagle and O3 Mining Issue Final Reminder to Tender to Agnico Eagle's All Cash 58% Premium Offer Expiring January 23, 2025

  • Offer is expiring on January 23, 2025
  • Agnico is committed to the Offer at $1.67 in cash, which represents a 58% premium to O3 Mining's closing price on December 11, 2024
  • 39% of outstanding shares of O3 Mining signed lock-up agreements to tender to the Offer
  • Offer unanimously recommended by Board and Special Committee of O3 Mining
  • Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email assistance@laurelhill.com

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") and O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining") provide O3 Mining shareholders with a final reminder to tender to Agnico Eagle's friendly all cash offer to acquire 100% of the common shares of O3 Mining ("Common Shares") at $1.67 per share (the "Offer"), which is expiring on January 23, 2025 at 11:59 pm (EST) .

O3 Mining Inc. Logo (CNW Group/O3 Mining Inc.)

Tender Shares for Prompt Payment

O3 Mining shareholders are strongly encouraged to tender their Common Shares to the Offer prior to January 23, 2025 to ensure prompt receipt of the Offer price of $1.67 per Common Share. If the conditions to the Offer are satisfied or waived by the expiry time, Agnico Eagle will take-up and pay for any Common Shares tendered prior to expiry by January 28, 2025 .

All directors and officers of O3 Mining and several of O3 Mining's largest shareholders, representing approximately 39% of the issued and outstanding Common Shares, entered into lock-up agreements under which they agreed to tender their Common Shares to the Offer.

O3 Mining shareholders are encouraged to tender their Common Shares as soon as possible to ensure intermediaries have sufficient time to process their requests. The board of directors of O3 Mining continues to unanimously recommend that O3 Mining shareholders tender their Common Shares to the Offer.

Agnico Eagle's Intentions

Agnico is committed to the Offer at $1.67 . Assuming the 66 2/3% minimum tender condition for the Offer is satisfied or waived, Agnico Eagle intends to complete the Offer and acquire 100% of any remaining Common Shares in a second-step transaction. Agnico Eagle is not required to reach a 90% tender threshold under the Offer to acquire 100% of O3 Mining. The closing of the second-step transaction and the payment for any Common Shares acquired thereunder is not expected to occur before the second quarter of 2025.

How do I tender my Common Shares?

Shareholder   Type

How do I tender my Common Shares?

Beneficial Shareholders – Most shareholders
are beneficial shareholders. This means your
Common Shares are held through a broker,
bank or other intermediary, and you do not have
a share certificate or DRS advice

Contact your bank or your broker
immediately and instruct them to tender
your Common Shares to the Offer

Registered Shareholders – You are a
registered shareholder if you hold your Common
Shares directly (through a share certificate, DRS
advice or other method of direct ownership)

Contact Laurel Hill Advisory Group:

Phone:       1-877-452-7184 (toll-free)
Email: assistance@laurelhill.com

If you have any questions or require any assistance with tendering your Common Shares to the Offer, please contact our Depositary and Information Agent:

Laurel Hill Advisory Group

North American Toll-Free:       1-877-452-7184
Outside North America :          +1-416-304-0211
E-mail: assistance@laurelhill.com

Visit us at www.agnicoeagle.com/Offer-for-O3-Mining to receive the most up-to-date information about the Offer.

About O3 Mining Inc.

O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada , adjacent to Agnico Eagle's Canadian Malartic mine. O3 Mining owns a 100% interest in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance project in Québec, which O3 Mining has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders.

About Agnico Eagle Mines Limited

Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada , Australia , Finland and Mexico , with a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements.

Forward-looking statements in this news release include, but are not limited to, statements regarding: the Offer, including the anticipated timing of expiration, mechanics, take up, funding, completion and settlement; the ability of Agnico Eagle to complete the transactions contemplated by the Offer; the satisfaction or waiver of the conditions to consummate the Offer; a second step transaction pursuant to which Agnico Eagle may acquire 100% of O3 Mining, including the satisfaction or waiver of the conditions to consummate such second step transaction. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that all conditions to completion of the Offer will be satisfied or waived; the ability of Agnico Eagle to acquire 100% of the Common Shares in a subsequent transaction; the decision by Agnico Eagle to extend, or not, the expiry time of the Offer; that any conditions to a subsequent second-step transaction will be satisfied or waived. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Download Press Release (CNW Group/O3 Mining Inc.)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/agnico-eagle-and-o3-mining-issue-final-reminder-to-tender-to-agnico-eagles-all-cash-58-premium-offer-expiring-january-23-2025-302355993.html

SOURCE O3 Mining Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/21/c7665.html

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