O3 Mining Inc. announced 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. to Alamos Gold in exchange for cash consideration of CAD 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. The Matachewan and Wydee properties are located to the east and west, respectively, of the town of Matachewan, Ontario, a historical gold mining town located at the western end of Ontario Highway 66 along the Montreal River. The town is located approximately 75 kilometres southeast of Timmins, Ontario and 60 kilometres southwest of Kirkland Lake, Ontario, being three kilometres west of Alamos Gold's Young-Davidson Mine, which has been in production since 2012.