Osisko Intersects 25.1 g/t Au Over 2.0 Metres At Windfall

Posted on October 25, 2016November 8, 2023 by lboivin

(Montréal, October 25, 2016). Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce further new results from the ongoing 150,000 metre drill program at its 100% owned Windfall Lake gold project located in the Urban Township, Québec. The current drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog and exploration drilling on the greater deposit and overall property area. Seven drills are currently on site, and an additional four drills are planned to be added to the program in the coming weeks. A total of seven new holes are reported in this release.

Significant new results include: 25.1 g/t Au over 2.0 metres and 15.5 g/t Au over 2.9 metres in DDH OSK-W-16-704-W1; and 13.0 g/t Au over 2.0 metres in DDH OSK-W-16-311-W2. The new results continue to demonstrate the continuity and high potential for significant new gold mineralization below Red Dog.? Details of the new results are outlined in the table below.

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t)	Zone	Corridor
OSK-W-16-704-W1	649.6	652.5	2.9	15.5	FW3	Underdog
including	649.6	650.3	0.7	63.6
	671.2	677.5	6.3	6.10	New	Underdog
including	671.2	671.7	0.5	59.3
	797.0	799.0	2.0	25.1	FW4	Underdog
including	797.5	798.1	0.6	50.5
OSK-W-16-706-W2	1203.2	1205.2	2.0	7.33	New	Underdog
OSK-W-16-311-W1	927.5	930.5	3.0	9.40	FW3 HW	Underdog
OSK-W-16-311-W2	918.8	921.0	2.0	13.0	FW3 HW	Underdog
including	919.3	919.6	0.3	88.30
	970.0	972.0	2.0	6.44	FW3 HW	Underdog
	992.5	994.9	2.4	6.55	FW3	Underdog
including	993.3	993.9	0.6	24.7
	1050.7	1053.4	2.7	7.87	FW3 FW	Underdog
including	1052.4	1053.4	1.0	20.9

Notes:

(1) For complete drilling results please see www.osiskomining.com
(2) True Widths are estimated at 65 – 80% of the reported core length interval.? See “Quality Control” below.

Drill Hole Collar Coordinates and Information

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Section
OSK-W-16-704-ext	327.0	-55.9	409.5	452311	5434627	2425
OSK-W-16-704-W1	328.7	-57.0	853.5	452311	5434629	2425
OSK-W-16-706-W2	329.6	-58.4	1297.5	452610	5434420	2525
OSK-W-16-311-W1	330.3	-62.4	1155	452311	5434424	2325
OSK-W-16-311-W2	330.3	-62.4	1181	452311	5434424	2325
OSK-W-16-726-W1	328.2	-59.5	1107.5	451895	5434186	1850
OSK-W-16-726-W2	328.2	-59.5	565.5	451895	5434186	1850

DDH OSK-W-16-704 ext was extended to test the FW3 Zone immediately below Red Dog. The FW3 Zone was intersected with 3-10% pyrite stringers and disseminations in a moderately sericitized volcanic rock unit, containing only weak gold mineralization.

DDH OSK-W-16-704-W1 intersected the FW3 Zone returning 15.5 g/t Au over 2.9 meters in a porphyry dyke containing 15-20% pyrite stringers and disseminations. This intercept is located 105 metres above DDH EAG-12-421 which returned 4.04 g/t Au over 2.2 metres (previously reported). Another zone was intersected 20 meters to the NW of the FW3 Zone which returned 6.1 g/t Au over 6.3 meters. Gold mineralization is hosted in a sericitized and silicified porphyry dyke containing 3-5% pyrite stringers and disseminations with traces of chalcopyrite. ?The FW4 zone returned 25.1 g/t Au over 2.0 meters in a sparsely drilled sector in the footwall of FW3 Zone. Gold mineralization is hosted in a strongly silicified and sericitized porphyry dyke containing 3-10% pyrite stringers and disseminations with traces of chalcopyrite and specks of visible gold.

DDH OSK-W-16-706-W2 tested the Underdog FW1 and FW3 Zones. Gold mineralization was intersected in the hanging wall of the FW3 Zone, returning 3.06 g/t Au over 4.5 metres in a silicified porphyry dyke containing 1-5% pyrite stringers and disseminations. The FW3 Zone returned 4.95 g/t Au over 3.5 metres at the contact of a silicified porphyry dyke containing 1-2% pyrite stringers and disseminations with several specks of visible gold. A new zone was also intersected in the footwall of the FW3, returning 7.33 g/t Au over 2.0 metres near a strongly silicified porphyry dyke contact containing 3-8% pyrite stringers and disseminations.

DDH OSK-W-16-311-W1 and DDH OSK-W-16-311-W2 expanded gold mineralization in a new zone for 135 metres along strike with intervals returning 9.40 g/t Au over 3.0 metres and 13.0 g/t Au over 2.0 metres respectively. These intervals correlate with previously a reported intercept in DDH OBM-16-655 of 10.2 g/t Au over 4.5 metres and confirm the potential for new gold zones below Red Dog. The two intervals are located in a silicified and sericitized porphyry dyke containing 2-5% pyrite stringers and disseminations with specks of visible gold. The FW3 Zone returned 6.55 g/t Au over 2.4 metres in a strongly silicified porphyry dyke containing up to 20% pyrite stringers and disseminations. An interval was also intersected 20 metres to the NW of FW3 which returned 7.87 g/t Au over 2.7 metres in a strongly sericitized porphyry dyke containing 1-2% pyrite.

DDH OSK-W-16-726-W1 tested the FW3 Zone in the western part of the deposit and 70 metres down-plunge from previously reported DDH NOT-07-110 which returned 12.3 g/t Au over 5.0 metres. The hole intersected the weakly altered favourable porphyry dykes and did not return any significant results.

DDH OSK-W-16-726-W2 was abandoned before intersecting the FW3 Zone and no significant results were reported.

Full analytical results from the seven new drill holes are available at www.osiskomining.com.

Qualified Person
The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Jean-Philippe Desrochers, Ph.D., P.Geo. Senior Project Manager of the Windfall Lake gold project, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Quality Control
True widths of the new exploration intercepts reported in this press release have yet to be determined. Additional drilling is planned for the immediate area which will enable the true width determination. Assays are uncut except where indicated. All NQ core assays reported were obtained by either 1 kg whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val dOr, Québec or Sudbury, Ontario. The 1 kg metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analysed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and down-plunge and at depth.

About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario.? Osisko continues to be well financed and has approximately $80 million in cash and cash equivalents as well as marketable securities of approximately $60 million.

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about potential mineralization; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Osisko, but involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any assumed or estimated future results, performance or achievements expressed or implied by such forward-looking information. Such factors, among others, include: risks relating to property interests; our ability to obtain required approvals, complete definitive documentation and complete transactions on the terms announced; the ability of Osisko to complete further exploration activities, including drilling; the results of exploration activities; the ability of exploration results to accurately predict mineralization; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions and/or estimates, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation 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 Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes 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 law.

For further information please contact:

John Burzynski
President and Chief Executive Officer
Telephone: (416) 363-8653

Osisko Intersects 34.4 g/t Au Over 5.7 Metres At Windfall

Posted on October 12, 2016November 8, 2023 by lboivin

(Montréal, October 12, 2016) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in the Urban Township, Québec. The current 150,000 metre drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog and exploration drilling on the greater deposit and overall property area.

Significant new results include: 34.4 g/t Au over 5.7 metres (uncut) in DDH OSK-W-16-720; 13.8 g/t Au over 6.6 metres in DDH OSK-W-16-708-W2; 7.57 g/t Au over 7.70 metres in DDH OSK-W-16-706-W3; 11.8 g/t Au over 4.6 metres in DDH OSK-W-16-309-W3; and 9.45 g/t Au over 2.1 metres in DDH OSK-W-16-727.

The new results demonstrate the continuity of the gold mineralization and the high potential for significant new mineralization near the known Windfall mineral inventory through continued definition and exploratory drilling, specifically in the eastern extension of the deposit and below the Red Dog intrusion. Six drills are currently active on site, and an additional four drills will be added to the program in the coming weeks. A total of seven new drill holes are reported in this release, and with significant results presented in the table below.

Hole	From (m)	To (m)	Interval (m)	Au (g/t)	Zone	Corridor
OSK-W-16-720	260	265.7	5.7	34.4 (uncut)	Caribou	Caribou
	260	265.7	5.7	20.9 (cut)
including	262	262.5	0.5	45.9
and	263.1	263.6	0.5	105
and	264.3	264.6	0.3	348
OSK-W-16-720	394	398.4	4.4	5.56	Caribou	Caribou
including	394	394.5	0.5	18.7	Caribou	Caribou
OSK-W-16-724	576.7	580	3.3	5.06	CN2 Zone Extension	Caribou
including	579.7	580	0.3	26.7	CN2 Zone Extension	Caribou
OSK-W-16-727	274.4	276.5	2.1	9.45	FW3	Underdog
including	274.9	276	1.1	17.2	FW3	Underdog
OSK-W-16-706-W3	944.8	952.5	7.7	7.57	FW1	Underdog
including	944.8	945.9	1.1	9.15
and	949	950.1	1.1	30.0
OSK-W-16-708-W2	668.8	671	2.2	7.43	Shear	Caribou
including	668.8	670.2	1.4	11.4	Shear	Caribou
OSK-W-16-708-W2	795.00	798.00	3.0	7.66	Caribou	Caribou
OSK-W-16-708-W2	841.9	844.7	2.8	4.47	Wolf	Caribou
including	844.3	844.7	0.4	30.3	Wolf	Caribou
OSK-W-16-708-W2	1135.5	1142.1	6.6	13.8	New Zone	Underdog
including	1136.1	1138.5	2.4	36.1	New Zone	Underdog
OSK-W-16-309-W3	474	476.2	2.2	7.63	New Zone	Caribou
OSK-W-16-309-W3	480.4	482.5	2.1	6.32	New Zone	Caribou
including	481.3	482	0.7	17.3	New Zone	Caribou
OSK-W-16-309-W3	539.2	543.8	4.6	11.8	New Zone	Caribou
including	542	543	1.0	47.9	New Zone	Caribou

Notes:
(1) For complete drilling results please see www.osiskomining.com.
(2) True widths are estimated at 65-80% of the reported core length interval. See “Quality Control” below.
(3) High grade values cut to 100 g/t Au

Drill Hole Collar Coordinates

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Section
OSK-W-16-309-W3	325.8	-63.2	1174	452548	5434514	2575
OSK-W-16-706-W3	329.6	-58.4	970.5	452610	5434420	2575
OSK-W-16-708-W2	331.0	-54.0	1408.5	452817	5434427	2775
OSK-W-16-720	332.0	-56.0	460.5	452665	5434718	2775
OSK-W-16-724	329.3	-65.0	823.5	452909	5434853	3050
OSK-W-16-726	328.2	-59.5	997.5	451895.1	5434186.2	1850
OSK-W-16-727	330.2	-52.5	382.5	451663	5434448	1775

DDH OSK-W-16-720 confirms the NE extension of the Caribou corridor with 34.4 g/t Au over 5.7 metres (20.9 g/t Au over 5.7 metres cut to 100 g/t). This new portion of the Caribou Zone was first intersected with DDH OSK-16-642 (10.0 g/t Au over 2.6 metres, Osisko press release dated May 12, 2016) located 75 metres down-plunge to the ENE. This new extension remains open in its down-plunge and down-dip extensions and is a further illustration of the good potential to discover additional gold zones in the proximity of known zones.

DDH OSK-W-16-724 tested the down-plunge extension of gold mineralization 150 metres to the ENE of known zones. The hole intersected 5.06 g/t Au over 3.3 metres in the down-plunge extension of the Caribou N2 Zone. Gold mineralization is hosted in an altered porphyry dyke containing 3-15% pyrite stringers and disseminations. This intercept shows the gold mineralization in the Caribou Corridor extends for more than 800 metres laterally and confirms the Main Zone is open in its down-plunge extension.

DDH OSK-W-16-726 tested the Underdog Corridor in the western extension of the deposit. The hole intersected a new zone located 70 metres to the NW of FW3 Zone returning 4.50 g/t Au over 2.2 metres.

DDH OSK-W-16-727 also tested the Underdog Corridor in the western extension of the deposit. The hole intersected the FW3 Zone returning 9.45 g/t Au over 2.1 metres, located 140 metres in the down-plunge extension of DDH OSK-16-616 (previously reported, 18.9 g/t Au over 2.8 metres). The mineralization is hosted in a strongly silicified porphyry dyke containing 2-20% pyrite stringers and disseminations.

DDH OSK-W-16-706-W3 intersected 7.57 g/t Au over 7.7 metres and expanded the FW1 Zone in the Underdog Corridor by 35 metres along its down-dip extension. The hole also correlates with DDH OSK-16-706 (previously reported, 12.3 g/t Au over 2.3 metres) located 80 metres to the northeast. The gold mineralization is hosted in a fragmental felsic porphyry dyke containing 2-15% pyrite stringers and disseminations with traces of chalcopyrite.

DDH OSK-W-16-708-W2 discovered a new zone in the Underdog Corridor returning 13.8 g/t Au over 6.6 metres. This zone is hosted in a strongly altered volcanic rock unit containing 5-7% pyrite stringers and traces chalcopyrite. The hole also intersected the down-dip extension of the Wolf Zone, returning 4.47 g/t Au over 2.8 metres and expanded a known zone in the Caribou Corridor by another 22 metres down-dip with an interval returning 7.66 g/t Au over 3.0 metres.

DDH OSK-W-16-309-W3 intersected a new zone located 17 metres in the footwall of the Caribou North 1 Zone, returning 11.8 g/t Au over 4.6 metres. This correlates with DDH EAG-13-320-W2, located 62 metres to the SW (previously reported, 4.9 g/t Au over 3.15 metres). The hole intersected additional gold mineralization in the hanging wall of the Caribou North 1 Zone returning 7.63 g/t Au over 2.2 metres and 6.32 g/t Au over 2.1 metres. Both intervals are related to a felsic porphyry dyke.

About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $80 million in cash and cash equivalents as well as marketable securities of approximately $60 million.

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about potential mineralization; the expansion of the drill program; the potential for the Windfall project; the ability to add an additional four drills to the program; that new drill results may demonstrate continuity in the gold mineralization; the potential for new mineralization near the known Windfall mineral inventory; the ability of continued definition and exploratory drilling to identify mineralization; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Osisko, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to property interests; our ability to obtain required approvals;, the ability of Osisko to complete further exploration activities, including drilling; the results of exploration activities; the ability of exploration results to accurately predict mineralization; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers 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 Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes 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 law.

For further information please contact:
John Burzynski
President and Chief Executive Officer
Telephone: (416) 363-8653

Osisko Appoints New Officers

Posted on October 5, 2016November 8, 2023 by lboivin

(Montreal, October 5, 2016) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce that it has appointed three new executive officers. Mr. Robert Wares has been appointed Executive Vice President of Exploration and Resource Development; Mr. Mathieu Savard has been appointed Vice President of Exploration for Quebec; and Ms. Alexandra Drapack has been appointed Vice President of Environment Services and Sustainable Development.

Robert Wares, P.Geo., Executive Vice-President of Exploration and Resource Development

Mr. Wares is a professional geologist with over 35 years of experience in mineral exploration, research and resource development. Mr. Wares’ skills and experience span a broad spectrum of the exploration and mining industry, with the majority of his career in the base and precious-metals sector. He was a co-founder of Osisko Mining Corp. and was directly responsible for the discovery of the Canadian Malartic bulk tonnage gold deposit, which was subsequently developed by Osisko Mining Corporation into one of Canadas largest gold producers. Mr. Wares was President of Osisko Exploration from 1998 to 2006, was Executive Vice President, Exploration and Resource Development from 2006 to 2012, and was Chief Geologist for Osisko Mining Corporation and Osisko Gold Royalties Ltd. from 2012 to 2016. Mr. Wares currently serves as the President of lOrdre des géologues du Québec (Quebec Professional Geologist Association) and is also a member of the Board of Directors of Arizona Mining, Bowmore Exploration Ltd. and Komet Resources. He is a member of various industry and research organizations, is recipient of an Honorary Doctorate in Science from McGill University and has received numerous industry awards, including co-winner of 2007 Bill Dennis Prospector of the Year Award (PDAC), and with his Osisko co-founders was named “Mining Men of the Year” by the Northern Miner in 2009.

Mathieu Savard, P.Geo., Vice-President of Exploration Québec

With over 17 years’ experience in exploration in Northern Québec and Canada, Mathieu graduated from the Université du Québec à Montréal with a bachelors degree (B.Sc.) in earth sciences and economic geology. Prior to joining Osisko Mining, he was Chief Geologist at Osisko Exploration James Bay Ltd. for all their activities in Québec. For 15 years prior to working with the Osisko Group, Mathieu was a senior member of the Virginia Gold and Virginia Gold Mines teams and, as Project Manager, was instrumental to the development of the world-class Éléonore gold deposit in Northern Québec and was part of the discovery team of the Coulon base metal deposit. Mr. Savard and the Virginia team received the AEMQs prestigious Prospector of the Year Award in 2004 for the discovery of both the Éléonore gold deposit and Coulon base metal deposit. He is a member of the Ordre des Géologues du Québec and is a director of the Québec Mineral Exploration Association (AEQM) where he currently serves as Vice-President.

Alexandra Drapack, P.Eng., Vice-President of Environment Services & Sustainable Development

Ms. Drapack is a professional engineer with over 20 years of experience in managing mining, environmental and transportation projects in Canada and the USA, spanning operations, consulting and corporate office settings. Alix graduated from UBC with a Bachelor of Applied Science in Mining and Mineral Process Engineering. She also holds an MBA from Arizona State University, is a member (P. Eng.) of the Professional Engineers of Ontario, and has her Project Management Professional designation (PMP). From 2011 to 2014, as Director of Sustainable Development for Osisko Mining Corporation, she led the combined federal and provincial environmental assessment process for the Osisko Hammond Reef Project and was responsible for Aboriginal engagement, public consultation and government relations. Previously she developed and implemented the Environmental Management Program for TransLink and has had mining operations experience including working as a Mill Shift foreman for Inco Ltd.

John Burzynski, President and Chief Executive Officer of Osisko stated: “We are very pleased to welcome Bob, Mathieu and Alix to the Osisko Mining executive team, three highly experienced mining industry professionals with a depth of experience with the Osisko group. We expect all three will help us in our goal of accelerating work on our flagship Windfall and Urban Barry projects as we continue towards our goal of becoming a leading Canadian intermediate mining company.”

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $80 million in cash and cash equivalents as well as marketable securities of approximately $60 million.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about the potential for significant new mineralization near the Windfall mineral inventory; continued definition and exploratory drilling (specifically in the eastern extension of the deposit and below the Red Dog intrusion); strong mineralization in the Caribou Zone; the extension of the Caribou Zone mineralized corridor; the expansion of the FW3 Zone; the expansion of the drill program at Windfall Lake (including the number of drills and meters of drilling); the potential for Windfall to be a “company maker” deposit for the Corporation; the ability of the exploration team to continue intersecting new extensions and to define new parallel mineralized zones; pending transactions and any interests and options of the Corporation; any potential mineralization; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed drilling or exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Osisko, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the quality of drilling results; the ability of drill results to forecast actual mineralization; property interests; our ability to obtain required approvals, complete definitive documentation and complete transactions on the terms announced, ability of Osisko to complete further exploration activities, including drilling; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers 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 Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes 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 law.

For further information please contact:

John Burzynski
President and Chief Executive Officer
Telephone: (416) 363-8653

Osisko Mining Closes Exploration Earn-In Agreement

Posted on October 5, 2016November 8, 2023 by lboivin

(Montréal, October 5, 2016) Osisko Mining Inc. (OSK:TSX, “Osisko Mining” or the “Corporation”) is pleased to announce that it has finalized the earn-in transaction with Osisko Gold Royalties Ltd (“Osisko Royalties”), as announced by the Corporation on August 16, 2016. Under the terms of the earn-in agreement, Osisko Mining may earn a 100% interest in Osisko Royalties’ interest in 28 exploration properties located in the James Bay area, Québec and the Labrador Trough area (the “Properties”) upon incurring exploration expenditures totaling $32 million over the 7year term of the earn-in agreement; Osisko Mining will earn a 50% interest upon completing expenditures totaling $19.2 million. Osisko Royalties will retain an escalating net smelter return (“NSR”) royalty ranging from 1.5% to a maximum of 3.5% on precious metals and a 2% NSR royalty on other metals and minerals produced from the Properties. Additionally, any new properties acquired by Osisko Mining in the designated area during the 7-year term of the earn-in agreement may also be subject to a royalty agreement in favour of Osisko Royalties with similar terms and subject to certain conditions. In connection with the transaction, Osisko Royalties has covenanted not to participate in any exploration activities and not to compete with Osisko Mining in the areas covered by the earn-in agreement; provided, however, that Osisko Royalties may continue its existing activities in respect of the Coulon copper-zinc project held by Osisko Royalties and other Québec institutional shareholders and on four other exploration properties.

As part of the transaction, Osisko Mining is hiring all of the existing Québec based exploration team of Osisko Royalties (being the former employees of Virginia Mines Inc.).

John Burzynski, President and Chief Executive Officer of Osisko Mining stated: “We are very pleased to complete this earn-in agreement with Osisko Royalties. The property portfolio in the James Bay region of Québec compliments our expanding programs at Windfall, and with both project groups being in the same geographical area of Québec and falling within the boundaries of Québecs Plan Nord program, we expect to see logistical and project execution efficiencies. We are looking forward to having the ex-Virginia team join our group in the pursuit of new discoveries in the Windfall camp, and continuing their work on the James Bay area projects.”

Due to the fact that Osisko Royalties is an insider of and a related party of Osisko Mining, this transaction is a “related party transaction” as set out in Multilateral Instrument 61-101 ‒ Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Osisko Mining has relied on the exemption from the valuation requirements of MI 61-101 contained in section 5.5(a) and from minority approval requirements under section 5.7(a), because the fair market value of the subject matter of, and the consideration for, the transaction, does not exceed 25% of the market capitalization of Osisko Mining. The entry into of the transaction has been approved by the directors of Osisko Mining, other than those with an interest in Osisko Royalties.

Exercise of Option

Osisko Royalties has also exercised its option to acquire 1% NSR royalty on Osisko Minings Windfall and Urban Barry properties for $5 million. Osisko Mining is currently executing a 150,000 metre program on the Windfall Project and surrounding area.

About Osisko Mining Inc.

Osisko Mining is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko Mining holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko Mining continues to be well financed and has approximately $80 million in cash and cash equivalents as well as marketable securities of approximately $60 million.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about the earn-in transaction with Osisko Royalties; the timing and ability of Osisko Mining to incur exploration expenditures and satisfy the conditions precedent to the earn-in agreement, if at all; the non-competition provision of Osisko Royalties in favour of Osisko Mining; the expansion of the Windfall drill program; the complementary nature of the James Bay, Québec exploration properties of Osisko Royalties to the drill program of Osisko Mining at Windfall Lake; the timing and ability to integrate the exploration employees of Osisko Royalties, if at all; the ability to complete any proposed drilling or exploration activities and the results of such activities; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Osisko Mining, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko Mining to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the prospectivity of the James Bay, Québec exploration properties of Osisko Royalties which are subject to the earn-in agreement; the quality of the exploration activities and results; property interests; our ability to complete further exploration activities, including drilling; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko Mining cannot assure shareholders and prospective purchasers 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 Osisko Mining nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko Mining does not undertake, and assumes 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 law.

For further information please contact:

John Burzynski
President and Chief Executive Officer
Telephone: (416) 363-8653

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Month: October 2016