O3 Mining Inc. announced that Alexandria Minerals Corporation has acquired an 80% undivided interest in the Centremaque Property, located on O3 Mining's Alpha Property in Val-d'Or, Québec, Canada, from Golden Valley Mines and Royalties Ltd. (Golden Valley). In accordance with the terms of the Option Agreement, upon acquiring the Acquired Interest, Golden Valley and Alexandria are deemed to have formed a joint venture for the purposes of, among other things, further exploring the Property and, if deemed warranted, developing, constructing and operating a mine on the Property (or a part of thereof). Golden Valley will retain a 20% free carried interest, and retain a 1.5% NSR royalty, of which 0.5% may be purchased by the Corporation for CAD 1 million.