11:37 AM EDT, 05/27/2024 (MT Newswires) -- O3 Mining ( OIIIF ) said Monday said it made a firm commitment not to engage in exploration activities on certain areas of its non-core Harricana project in Quebec after discussions with local organizations to identify sustainable solutions to limit or even exclude mining exploration activities in the area.

The company said it will not conduct work on the local golf course, the recreational forest and category 1 groundwater catchment areas.

"Rather than abandoning these claims, which would allow other mining companies or any other acquirer to pursue their development, O3 Mining ( OIIIF ) will instead retain them while it explores alternative potential future uses and avenues for reconciliation," the company said. "This new approach for a mining company revolves around a vision of openness, transparency and authenticity and is in line with O3 Mining's ( OIIIF ) key commitment to implement concrete solutions to promote responsible mine development."

O3 said it remains focused on advancing its flagship Marban Alliance project.

O3's share's were last seen up $0.05 to $1.41 on the TSX Venture Exchange.

Price: 1.41, Change: +0.05, Percent Change: +3.68