Grade and Ounces Increase with Infill Drilling

 

(Toronto, November 27, 2018) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to provide an update on the Lynx zone mineral resource estimate at its 100% owned Windfall Project, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Highlights include:

• Grade increase in Lynx indicated resource to 8.13 g/t Au
• Grade increase in Lynx inferred resource to 9.70 g/t Au
• Addition of 153,000 ounces to Lynx indicated resource
• Addition of  82,000 ounces to Lynx inferred resource
• Global Windfall indicated resource increases to 754,000 oz Au averaging 8.17 g/t Au
• Global Windfall inferred resource increases to 2,366,000 oz Au averaging 7.11 g/t Au

 

Table 1:  Updated mineral resource estimate for Lynx compared to the mineral resource estimate for this zone outlined in Osisko’s press release dated May 14, 2018 (3.0 g/t Au cut-off)

Zone	Indicated			Inferred
	Tonnes (1)	Grade (g/t)	Ounces Au (1)	Tonnes (1)	Grade (g/t)	Ounces Au (1)
Lynx – Nov 2018	1,746,000	8.13	456,000	2,005,000	9.70	625,000
Lynx – May 2018	1,254,000	7.51	303,000	2,257,000	7.48	543,000
Change	+492,000	+0.62	+153,000	-252,000	+2.22	+82,000

Note: (1) Values are rounded to nearest thousand which may cause apparent discrepancies.

 

The updated mineral resource estimate includes 138 infill drill holes (107,366 metres) completed in the Lynx resource area by Osisko between March 6, 2018 and October 27, 2018. In total, the updated mineral resource estimate includes 613 holes (370,714 metres) drilled in the Lynx zone by Osisko since 2017.  Conversion drilling (from inferred category to indicated category) continues at the Windfall deposit on all zones (Zone 27, Caribou, Underdog, and Lynx).  The complete Windfall mineral resource estimate update is scheduled for release in 2019 upon the completion of the ongoing infill drilling program.

 

John Burzynski, President and Chief Executive Officer commented: “We are very pleased with the updated mineral resource estimate on Lynx.  Our work has positively demonstrated that conversion of inferred resources to indicated resources, and infilling in general, is resulting in higher average grades and is adding ounces.  Osisko’s Lynx discovery now represents over one million ounces of the global resource, and we are confident that as we complete the infill drilling we will continue to see the average indicated grade move up.  The higher grades and additional ounces shown in today’s updated resource will also have a strong positive effect on the robust Windfall PEA released in July 2018.”

 

Additionally he noted:  “We now have a very significant global resource between Windfall (2,874,000 tonnes averaging 8.17 g/t Au for 754,000 indicated ounces gold, and 10,352,000 tonnes averaging 7.11 g/t Au for 2,366,000 inferred ounces gold) and Osborne Bell (2,587,000 tonnes averaging 6.13 g/t Au for 510,000 ounces gold inferred).  The Windfall intrusive-related gold system remains open along strike and at depth. Lynx and several of the other known zones have excellent down plunge potential to add mineral resources, and as we progress with our 800,000 metre drill program we expect to continue expanding Windfall. Today’s positive results will be followed up by further grade confirmation work, including the initial results from our bulk sampling of Zone 27, which is on schedule to be released before the end of December 2018.  We are also continuing with deep drilling on our Triple 8 discovery, and anticipate news from the current hole in progress by the end of January 2019.  Osisko remains well financed as one of the most aggressive gold explorers in the business.”

 

The updated mineral resource estimate for Lynx was prepared by Osisko and reviewed and audited by Micon International Limited, Toronto, Ontario. The interim update used the same methodology (key assumptions, parameters and methods) as the Windfall Lake Technical Report (as defined below), which is available on SEDAR (www.sedar.com) under Osisko’s issuer profile. Infill drilling focused primarily on zones above 500 metres. Additional but limited infill drilling was also completed on zones below 500 metres. A total of 37 wireframes were updated and two new wireframes created for the interim estimate with a minimum true thickness of 2.0 metres. Wireframes in Lynx were updated and created using the same geological model of intrusive-related systems where mineralized zones are closely associated with sub-volcanic quartz-feldspar porphyries as previously used.

 

Average grades for indicated and inferred resources are weighted averages of indicated and inferred classified blocks from all 39 different sized wireframes. The increase in indicated resources was expected as infill holes continue to intersect high grade zones and improve continuity. The grade increase in inferred is due to the overall grade increase from additional holes in five wireframes representing approximately 75% of the inferred ounces.  The estimate only considers mineralized zones potentially minable by underground methods at a lower cut-off grade of 3.0 g/t Au. The cut-off calculation is based on the assumed parameters listed below:

 

Table 2: Parameters used for Resource Estimate

Parameters	Unit	Value
Gold Price	US$/oz	1,300
Exchange Rate	US$/C$	1.28
Mill Recovery	%	90
Sell Cost	C$/oz	5
Royalties	%	2.5
Mining Cost	C$/T milled	70
G&A Cost	C$/T milled	18
Processing Cost	C$/T milled	30
Transportation	C$/T milled	18
Environment	C$/T milled	3
Calculated Cut-off Grade	Au g/t	2.96

 

Table 3:  Windfall Mineral Resource Estimate with Lynx update.

Zone	Indicated			Inferred
	Tonnes (1)	Grade (g/t)	Ounces Au (1)	Tonnes (1)	Grade (g/t)	Ounces Au (1)
Lynx	1,746,000	8.13	456,000	2,005,000	9.70	625,000
Zone 27	628,000	8.69	175,000	852,000	7.28	199,000
Caribou	318,000	7.12	73,000	2,767,000	5.80	516,000
Underdog	147,000	9.00	43,000	4,380,000	6.77	953,000
Other	34,000	6.58	7,000	348,000	6.37	71,000
Total	2,874,000	8.17	754,000	10,352,000	7.11	2,366,000

 

Windfall Gold Deposit Mineral Resource Estimate Notes

• The Windfall mineral resource estimate has been prepared in accordance with Canadian Institute of Mining, Metallurgy and Petroleum’s standards and guidelines for reporting mineral resources and mineral reserves.
• Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction.
• The database comprised a total of 1,591 drill holes for 704,099 metres of drilling in the extent of the mineral resource, of which 950 drill holes (521,058 metres) were completed and assayed by Osisko as of October 27, 2018, on approximate grid of 25 metre x 25 metre (infill drilling) and larger grid for extension drilling.
• All NQ core assays reported by Osisko were obtained by analytical methods described below under “Quality Control and Reporting Protocols”.
• Geological interpretation of the deposits was based on lithologies, mineralized shears and the observation that most mineralized domains occur at the contact of porphyry dykes and volcanic host rocks. Interpretation was initially made from cross-sections at 50 metre intervals, and then completed in Leapfrog, a modelling software, where selections of mineralization intervals were combined to generate mineralization wireframes. Domains are subvertical, strike NE-SW and plunge approximately 30 degrees towards the North-East.
• The mineral resource estimate encompasses a total of 126 tabular, sub-vertical gold-bearing domains each defined by individual wireframes with a minimum true thickness of 2.0 metres.
• Samples were composited within the mineralization domains into 2.0 metre length composites. A value of zero grade was applied in cases of core not assayed.
• High grade capping was done on composite data, and established using a statistical analysis on a per-zone basis for gold. Capping varied from 15 g/t Au to 75 g/t Au and was applied using a four-step capping strategy where capping values decreased as interpolation distances increased.
• Density values were applied on the following lithological basis (t/m3): mafic volcanic host rocks varied from 2.78 to 2.86; felsic volcanic host rocks varied from 2.76 to 2.77; porphyries varied from 2.70 to 2.83.
• Ordinary Kriging (OK) based interpolation was used for the estimation of all zones of the Windfall gold deposit except for the Underdog zone where an Inverse Distance Squared (ID2) interpolation was preferred due to the larger drill spacing and smaller density of drill holes informing the mineralization wireframes. All estimates are based on a block dimension of 5 metres NE, 2 metres NW and 5 metres height and estimation parameters determined by variography.
• The Windfall mineral resource estimate is categorized as indicated mineral resource and inferred mineral resource as follows:
  • The Indicated mineral resource category is manually defined and encloses areas where drill spacing is generally less than 25 metres, blocks are informed by a minimum of three drill holes, and reasonable geological and grade continuity is shown.
  • The Inferred mineral resource category is manually defined and encloses areas where drill spacing is less than 100 metres, blocks are informed by a minimum of two drill holes, and reasonable, but not verified, geological and grade continuity is observed.
• Estimates use metric units (metres, tonnes and g/t). Metal contents are presented in troy ounces (metric tonne x grade / 31.10348).
• Micon International Limited is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue not reported in the technical report, that could materially affect the mineral resource estimate.
• These mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred resources as Indicated or Measured, It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

 

Qualified Persons

The updated mineral resource estimate on the Lynx zone, with an effective date of November 27, 2018, was (i) prepared by Judith St-Laurent, P.Geo (OGQ #1023)., B.Sc.,of Osisko Mining and (ii) reviewed and approved by Charley Murahwi, M.Sc, P.Geo., FAusIMM, each of whom is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“). Mr. Murahwi is an employee of Micon International Limited and is considered to be “independent” of Osisko for purposes of section 1.5 of NI 43-101.

The scientific and technical content in this press release has been reviewed and approved by Mr. Mathieu Savard, P.Geo (OGQ #510), Vice President Exploration (Québec) of Osisko, who is a “qualified person” within the meaning of NI 43-101.

Quality Control and Reporting Protocols

True widths determinations are estimated at 65-80% of the reported core length intervals for most of the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) 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 assay.

Cautionary Statements Regarding Estimates of Mineral Resources

This press release uses the terms measured mineral resource, indicated mineral resource and inferred mineral resource as a relative measure of the level of confidence in the mineral resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of a feasibility or pre-feasibility study or economic analysis of mineral resources, except for a “preliminary economic assessment” as defined under NI 43-101. Readers are cautioned not to assume that further work on the stated mineral resources will lead to mineral reserves that can be mined economically.

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% interest in the high-grade Windfall Lake gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Garrison property. The Corporation also holds interests and options in a number of additional properties in northern Québec and Ontario.

 

About the Windfall Lake Gold Deposit

The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the Windfall Lake Technical Report (as defined below), comprises 2,382,000 tonnes at 7.85 g/t Au (601,000 ounces) in the indicated mineral resource category and 10,605,000 tonnes at 6.70 g/t Au (2,284,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake gold project, please see the technical report entitled “Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties” and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val-d’Or, Québec (the “Windfall Lake Technical Report”). The Windfall Lake Technical Report is available on Osisko’s website at www.osiskomining.com and on SEDAR under Osisko’s issuer profile at www.sedar.com). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2000 metres in others, with significant potential to extend mineralization down-plunge and at depth.

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this press release. The information in this press release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the Windfall Lake gold deposit being a world-class gold system; the significance of the updated mineral resource estimate for Lynx; the timing and ability, if at all, for Osisko to complete an updated mineral resource estimate for Windfall; the timing and ability of Osisko to complete its ongoing infill drilling program; Osisko’s ability, if at all, to positively convert inferred mineral resources to indicated mineral resources; any increase in grade that could result from the conversion of inferred mineral resources to indicated mineral resources; the effect of higher grades on the mineral resource outlined in the Windfall Technical Report; results of bulk sampling on Zone 27; timing and ability, if at all, for Osisko to release an update on Zone 27 by the end of December 2018; results of deep drilling on Triple 8 discovery; timing and ability, if at all, for Osisko to release information on current hole in progress by the end of January 2019; the significance, if any, of new results from the ongoing deep-hole drill/exploration program at the Windfall Lake gold project; potential depth extensions of the Lynx and Underdog mineralized zones; the potential, if any of the Deep Underdog and Deep Lynx zones; the type and extend of drilling on the Deep Underdog and Deep Lynx zones; the success of Osisko’s deep-hole drill/exploration program at the Windfall Lake gold project, if any; the down-plunge projection of the gold mineralized structures; the current 800,000 metre drill program; the type of drilling included in the drill program; potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; 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, including 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, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “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 the Corporation at the time such assumptions and estimates were made, and 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 ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; 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 press release is based upon what management believes, or believed at the time, to be reasonable assumptions. 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.

 

CONTACT INFORMATION:

John Burzynski
President & Chief Executive Officer
(416) 363-8653

Resource Update on Schedule

(Toronto, November 21, 2018)  Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new infill drilling results from the ongoing drill definition and expansion program at its 100% owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. The 800,000 metre drill program commenced in late 2015. The program is currently focussed on infill drilling within the main Windfall gold deposit and the adjacent Lynx deposit (located immediately NE of Windfall), exploration and expansion drilling on the main mineralized zones, and deep exploration in the central areas of the intrusive system. Significant new analytical results from 53 intercepts in 23 drill holes and 6 wedges focused on infill drilling are presented below.

The database for the Lynx interim resource update was closed on October 27^th, 2018.  Results are on schedule to be released prior to the end of the month. This interim resource update is focused on the Lynx zones above 500 metres, and was planned in May 2018 as a follow-up to demonstrate the results of infill drilling on the May 2018 preliminary resource estimate (see Osisko press release dated May 14, 2018).  The complete Windfall resource is scheduled for release in 2019 upon the completion of the ongoing infill drilling program.

 

Bulk sampling in Zone 27 is also progressing, with over 1,000 tonnes of sample material already shipped to the custom processing facility in Ontario.  Preliminary results from Zone 27 bulk sampling are also on schedule to be available before the end of December.

 

Highlights from today’s new infill drilling results include: 83.9 g/t Au over 5.3 metres and 89.3 g/t Au over 2.4 metres in OSK-W-18-1731; 56.3 g/t Au over 3.3 metres in OSK-W-18-1728-W1; 29.3 g/t Au over 2.9 metres in OSK-W-18-1738; 27.2 g/t Au over 2.6 metres in OSK-W-18-1508; 23.7 g/t Au over 2.9 metres in OSK-W-18-1754 and 13.5 g/t Au over 4.7 metres in OSK-W-18-1762. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t) uncut	Au (g/t)         cut to 100 g/t	Type	Mineralized zone
OSK-W-18-1508	214.0	217.0	3.0	18.3		Infill	Lynx
including	214.0	214.7	0.7	74.4
	224.3	226.5	2.2	25.3		Infill	Lynx
including	224.9	225.5	0.6	85.3
	231.2	233.8	2.6	27.2		Infill	Lynx
	241.0	247.5	6.5	5.31		Infill	Lynx
OSK-W-18-1558-W1	346.5	352.0	5.5	4.48		Infill	Zone 27
	373.0	375.0	2.0	4.30		Infill	Zone 27
	379.0	383.0	4.0	3.06		Infill	Zone 27
	385.8	388.5	2.7	4.79		Infill	Zone 27
OSK-W-18-1674	279.5	281.5	2.0	3.10		Infill	Caribou
including	280.5	280.8	0.3	19.7
	315.5	317.5	2.0	5.10		Infill	Caribou
including	316.3	316.6	0.3	29.9
OSK-W-18-1689	123.0	125.0	2.0	3.72		Infill	Caribou
including	123.7	124.0	0.3	23.8
OSK-W-18-1702	56.0	58.0	2.0	15.4		Infill	Caribou
OSK-W-18-1721	303.3	305.6	2.3	4.46		Infill	Caribou
OSK-W-18-1725	377.8	380.2	2.4	9.73		Infill	Lynx
including	378.1	379.1	1.0	22.0
OSK-W-18-1728	455.0	457.0	2.0	4.89		Infill	Lynx
OSK-W-18-1728-W1	467.6	470.9	3.3	56.3	36.1	Infill	Lynx
including	468.7	469.4	0.7	196	100
	489.6	491.7	2.1	9.83		Infill	Lynx
including	489.6	490.0	0.4	47.2
OSK-W-18-1731	555.0	557.4	2.4	89.3	73.3	Infill	Lynx
including	556.3	557.4	1.1	135	100
	585.2	590.5	5.3	83.9	35.5	infill	Lynx
including	586.4	587.0	0.6	456	100
OSK-W-18-1734	252.7	255.0	2.3	3.02		Infill	Lynx
OSK-W-18-1735	86.7	91.0	4.3	6.54		Infill	Caribou
including	90.3	91.0	0.7	18.3
	117.0	119.0	2.0	5.20		Infill	Caribou
	278.0	280.1	2.1	5.40		Infill	Zone 27
OSK-W-18-1738	299.6	303.1	3.5	7.99		Infill	Lynx
	350.9	353.8	2.9	29.3	16	Infill	Lynx
including	351.2	351.5	0.3	229	100
OSK-W-18-1739	516.0	518.0	2.0	13.0		Infill	Lynx
including	517.3	517.6	0.3	83.6
OSK-W-18-1741-W1	445.0	447.5	2.5	9.72		Infill	Lynx
including	446.2	446.7	0.5	47.0
	498.7	502.0	3.3	5.13		Infill	Lynx
OSK-W-18-1742	230.0	232.0	2.0	9.64		Infill	Caribou
OSK-W-18-1743-W1	424.0	426.3	2.3	6.46		Lynx	Lynx
including	425.2	425.8	0.6	17.4
	481.1	484.1	3.0	18.6	18.3	Infill	Lynx
including	483.6	484.1	0.5	102	100
	489.0	491.1	2.1	3.35		Infill	Lynx
OSK-W-18-1744	507.1	509.5	2.4	8.38		Infill	Lynx
including	507.1	507.7	0.6	29.6
OSK-W-18-1744-W1	527.8	532.3	4.5	9.71		Infill	Lynx
including	527.8	528.1	0.3	55.6
OSK-W-18-1745	386.0	388.0	2.0	20.4		Infill	Lynx
including	387.4	388.0	0.6	67.2
	450.9	452.9	2.0	13.0		Infill	Lynx
including	451.2	452.2	1.0	25.4
	470.0	472.3	2.3	7.05			Vein
including	471.2	471.9	0.7	22.9
OSK-W-18-1746	454.0	456.1	2.1	3.23		Infill	Lynx
OSK-W-18-1747-W1	505.5	507.5	2.0	3.78		Infill	Zone 27
OSK-W-18-1750	172.1	174.3	2.2	20.0		Infill	Lynx
	198.2	200.6	2.4	6.10		Infill	Lynx
	229.4	231.8	2.4	6.27		Infill	Lynx
	251.0	253.3	2.3	5.67		Infill	Lynx
including	252.3	252.8	0.5	24.9
OSK-W-18-1754	168.0	170.9	2.9	23.7		Infill	Lynx
	188.0	190.0	2.0	5.28		Infill	Lynx
including	189.0	189.5	0.5	20.8
	208.0	210.0	2.0	22.9		Infill	Lynx
including	208.8	209.5	0.7	64.1
	222.8	225.0	2.2	3.19		Infill	Lynx
including	222.8	223.1	0.3	17.6
	237.0	239.7	2.7	3.93		Infill	Lynx
including	238.1	238.8	0.7	12.4
OSK-W-18-1758	64.8	68.0	3.2	5.96		Infill	Zone 27
including	67.1	68.0	0.9	15.5
OSK-W-18-1762	229.5	234.2	4.7	13.5		Infill	Lynx
including	229.5	230.0	0.5	89.0
OSK-W-18-1763	203.0	205.4	2.4	7.75		Infill	Caribou
WST-18-0004	160.7	163.0	2.3	13.0		Infill	Zone 27
including	160.7	161.2	0.5	58.8
WST-18-0006	77.0	79.0	2.0	8.80		Infill	Zone 27
including	78.1	78.5	0.4	35.7

 

Note:         True widths are estimated at 65 – 80% of the reported core length interval.  See “Quality Control and Reporting Protocols” below.

 

 

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation (m)	Section
OSK-W-18-1508	331	-57	282	453346	5434954	397	3475
OSK-W-18-1558-W1	316	-47	450	452464	5434663	403	2575
OSK-W-18-1674	345	-45	378	452102	5434436	401	2150
OSK-W-18-1689	150	-54	135	452177	5434814	401	2400
OSK-W-18-1702	330	-50	534	452418	5434561	399	2475
OSK-W-18-1721	332	-49	630	452510	5434500	400	2525
OSK-W-18-1725	340	-54	399	453418	5434901	396	3525
OSK-W-18-1728	138	-54	507	453468	5435417	399	3825
OSK-W-18-1728-W1	145	-51	669	453468	5435417	399	3825
OSK-W-18-1731	139	-51	611	453383	5435518	409	3800
OSK-W-18-1734	338	-67	360	453461	5435038	396	3625
OSK-W-18-1735	323	-45	327	452394	5434680	400	2525
OSK-W-18-1738	329	-69	393	453460	5434986	396	3600
OSK-W-18-1739	125	-55	594	453133	5435354	416	3500
OSK-W-18-1741-W1	144	-48	528	453328	5435466	406	3725
OSK-W-18-1742	335	-56	462	452320	5434588	401	2400
OSK-W-18-1743-W1	140	-45	558	453331	5435395	402	3700
OSK-W-18-1744	134	-48	599	453450	5435484	394	3825
OSK-W-18-1744-W1	134	-48	594	453450	5435484	394	3825
OSK-W-18-1745	134	-51	486	453218	5435347	400	3575
OSK-W-18-1746	142	-53	510	453280	5435389	398	3650
OSK-W-18-1747-W1	333	-54	558	452463	5434683	395	2575
OSK-W-18-1750	333	-52	315	453379	5434949	389	3500
OSK-W-18-1754	332	-53	264	453338	5434947	390	3475
OSK-W-18-1758	160	-45	138	451941	5434725	402	2150
OSK-W-18-1762	332	-58	254	453323	5434955	397	3475
OSK-W-18-1763	330	-51	234	452863	5434972	407	3075
WST-18-0004	112	-56	196	452383	5435015	277	2675
WST-18-0006	136	-44	114	452383	5435013	277	2675

 

OSK-W-18-1508 intersected four intervals in Lynx: 18.3 g/t Au over 3.0 metres, 25.3 g/t Au over 2.2 metres, 27.2 g/t Au over 2.6 metres and 5.31 g/t Au over 6.5 metres.  The first interval contains 2% pyrite with intense pervasive silica flooding hosted in a strongly silicified, moderately sericitized and lightly bleached felsic porphyritic dike. The second and third intervals contain local visible gold and 1% pyrite with pervasive silica flooding in a silicified rhyolite. The fourth interval contains trace pyrite with pervasive silica flooding in a strongly silicified and moderately sericitized rhyolite.

 

OSK-W-18-1558-W1 intersected 4.48 g/t Au over 5.5 metres, 4.30 g/t Au over 2.0 metres, 3.06 g/t Au over 4.0 metres and 4.79 g/t Au over 2.7 metres in Zone 27. The first interval contains local visible gold in ptygmatic pyrite-tourmaline veinlets, 2% pyrite stringers and 1% disseminated pyrite hosted in a bleached andesite. The other intervals are composed of up to 3% pyrite stringers and trace disseminated pyrite hosted in a bleached andesite and felsic porphyritic intrusion.

 

OSK-W-18-1674 intersected 3.10 g/t Au over 2.0 metres and 5.10 g/t Au over 2.0 metres in Caribou. Mineralization consists of up to 20% pyrite-tourmaline stringers, tourmaline ptygmatic veinlets with strong and patchy silica alteration in a moderate sericite altered rhyolite.

 

OSK-W-18-1689 intersected 3.72 g/t Au over 2.0 metres in Caribou. Mineralization is composed of trace pyrite-tourmaline stringers and disseminated pyrite within a sericite, chlorite and carbonate altered rhyolite.

 

OSK-W-18-1702 intersected 15.4 g/t Au over 2.0 metres in Caribou. Mineralization consists of 3% pyrite clusters and 2% disseminated pyrite hosted in an andesite with moderate hematite alteration.

 

OSK-W-18-1721 intersected 4.46 g/t Au over 2.3 metres in Caribou. Mineralization is composed of 5% pyrite stringers and 1% disseminated pyrite hosted in a strongly faulted, moderately sericitized and silicified rhyolite.

 

OSK-W-18-1725 intersected 9.73 g/t Au over 2.4 metres in Lynx. Mineralization is composed of a crustiform vein with 3% pyrite, trace disseminated sphalerite and 2% pyrite-tourmaline stringers with local fuchsite alteration hosted in a gabbro.

 

OSK-W-18-1728 intersected 4.89 g/t Au over 2.0 metres in Lynx. Mineralization includes 1% pyrite with pervasive silica flooding, pyrite clusters and quartz-tourmaline veins at the contact between a rhyolite and a gabbro.

 

OSK-W-18-1728-W1 intersected 56.3 g/t Au over 3.3 metres and 9.83 g/t Au over 2.1 metres in Lynx.  The first interval contains local visible gold, 3% pyrite clusters, and trace disseminated sphalerite and chalcopyrite with pervasive silica flooding hosted in a strong silica and weak fuchsite altered felsic intrusion. The second interval contains 1% pyrite with pervasive silica flooding, 1% disseminated pyrite, and quartz-tourmaline veins hosted in a moderate sericite and silica altered rhyolite.

 

OSK-W-18-1731 intersected 89.3 g/t Au over 2.4 metres and 83.9 g/t Au over 5.3 metres in Lynx. The first interval contains local visible gold, 1% disseminated pyrite, 2% pyrite stringers in fracture filling, and 1% sphalerite with pervasive silica flooding hosted in a moderate sericite and strong silica altered felsic porphyritic dike. The second interval contains local visible gold, trace sphalerite with pervasive silica flooding and quartz veins, 1% pyrite stringers and trace pyrite in quartz-tourmaline veins hosted in a moderate fuchsite altered, strong sericite and silica altered gabbro.

 

OSK-W-18-1734 intersected 3.02 g/t Au over 2.3 metres in Lynx. Mineralization is composed of 2% pyrite stringers and 1% pyrite with pervasive silica flooding in a silicified fragmental felsic dike.

 

OSK-W-18-1735 intersected three intervals: 6.54 g/t Au over 4.3 metres, 5.20 g/t Au over 2.0 metres in Caribou and 5.40 g/t Au over 2.1 metres in Zone 27. The first and second intervals contain up to 5% pyrite stringers and clusters with trace sphalerite hosted in moderately silicified, sericitized and bleached porphyritic felsic dike. The third interval contains 2% disseminated pyrite, 1% pyrite-tourmaline stringers, 5% pyrite with pervasive silica flooding and trace sphalerite in a sericitized and chloritized porphyritic felsic dike.

 

OSK-W-18-1738 intersected 7.99 g/t Au over 3.5 metres, and 29.3 g/t Au over 2.9 metres in Lynx. The first interval contains 3% pyrite with pervasive silica flooding, 1% disseminated or stringer pyrite or hosted in a sericitized and silicified porphyritic felsic dike. The second interval contains local visible gold, locally 20% pyrite with pervasive silica flooding, 7% disseminated pyrite, up to 7% pyrite in crustiform veins and 2% disseminated sphalerite hosted in a bleached, sericitized, silicified and fuchsite altered gabbro.

 

OSK-W-18-1739 intersected 13.0 g/t Au over 2.0 metres in Lynx. Mineralization is composed of a decimetre scale quartz-carbonate vein with 1% pyrite hosted in a carbonate altered gabbro.

 

OSK-W-18-1741-W1 intersected 9.72 g/t Au over 2.5 metres and 5.13 g/t Au over 3.3 metres in Lynx. Mineralization includes local visible gold and 3% disseminated pyrite in fracture filling in a pervasive silica flooding zone. The host is a strong sericite and fuchsite altered gabbro. The second interval contains 2% pyrite clusters, 1% pyrite with ptygmatic tourmaline veins within a sericitized gabbro.

 

OSK-W-18-1742 intersected 9.64 g/t Au over 2.0 metres in Caribou. Mineralization includes 2% pyrite with quartz-tourmaline veins at low core angle, trace pyrite clusters and stringers within a weak sericite altered rhyolite.

 

OSK-W-18-1743-W1 intersected 6.46 g/t Au over 2.3 metres, 18.6 g/t Au over 3.0 metres and 3.35 g/t Au over 2.1 metres in Lynx. The first interval contains up to 10% pyrite with pervasive silica flooding, 2% pyrite stringers in a silica, sericite and carbonate altered contact between a bleached gabbro and a felsic porphyritic dike.  The second interval contains local visible gold, up to 15% pyrite with pervasive silica flooding, 2% pyrite stringers and clusters, and 1% disseminated pyrite hosted in a bleached, sericitized and silicified gabbro in contact with a sericitized and silicified rhyolite. The third interval is composed of 3% pyrite in low core angle crustiform veins and 2% disseminated pyrite in a bleached, sericitized and silicified gabbro.

 

OSK-W-18-1744 intersected 8.38 g/t Au over 2.4 metres in Lynx. Mineralization is composed of local visible gold within a 10 centimetre wide quartz-tourmaline vein hosted in moderately bleached, fuchsite, sericite and carbonate altered gabbro in contact with a felsic porphyritic intrusion.

 

OSK-W-18-1744-W1 intersected 9.71 g/t Au over 4.5 metres in Lynx. Mineralization consists of local visible gold, up to 8% pyrite stringers with pervasive silica flooding, trace chalcopyrite, and local crustiform and ptygmatic tourmaline veins forming a stockwork texture. The host is a moderate fuchsite altered gabbro.

 

OSK-W-18-1745 intersected 20.4 g/t Au over 2.0 metres, 13.0 g/t Au over 2.0 metres and 7.05 g/t Au over 2.3 metres in Lynx. The frist interval contains local visible gold, up to 15% pyrite-tourmaline stringers with pervasive silica flooding hosted in a silicified rhyolite. The second interval contains 7% disseminated and interstitial pyrite in a dismembered crustiform vein and pervasive silica flooding within a weak fuchsite and silica altered gabbro. The third interval contains 2% disseminated pyrite and 3% pyrite-tourmaline stringers in quartz-carbonate veinlets within a weak silica, moderate fuchsite and chlorite altered gabbro.

 

OSK-W-18-1746 intersected 3.23 g/t Au over 2.1 metres in Lynx. Mineralization includes 2% disseminated pyrite and 3% pyrite-tourmaline stringers in tourmaline-quartz-carbonate veinlets hosted in a weak silica, moderate fuchsite and chlorite altered gabbro.

 

OSK-W-18-1747-W1 intersected 3.78 g/t Au over 2.0 metres in Zone 27. Mineralization is composed of 3% pyrite stringers with weak silica alteration hosted in a felsic porphyritic intrusion.

 

OSK-W-18-1750 intersected 20.0 g/t Au over 2.2 metres, 6.10 g/t Au over 2.4 metres, 6.27 g/t Au 2.4 metres and 5.67 g/t Au over 2.3 metres in Lynx. The first interval contains local visible gold, 4% pyrite stringers with pervasive silica flooding in a moderately sericitized and weakly bleached rhyolite at the contact with an andesite. The second interval contains up to 15% pyrite in intense pervasive silica flooding with trace sphalerite and up to 3% pyrite disseminated and as stringers, clusters and fragments within a sericite altered felsic fragmental dike. The third interval contains local visible gold, up to 5% pyrite disseminated and as fragments and stringers, and trace sphalerite and chalcopyrite with pervasive silica flooding, and local ptygmatic tourmaline veinlets hosted in a sericitized and bleached felsic fragmental dike. The fourth interval contains 5% pyrite with pervasive silica flooding and trace sphalerite hosted in a sericitized and bleached felsic fragmental dike.

 

OSK-W-18-1754 intersected 23.7 g/t Au over 2.9 metres, 5.28 g/t Au over 2.0 metres, 22.9 g/t Au over 2.0 metres, 3.19 g/t Au over 2.2 metres and 3.93 g/t Au over 2.7 metres in Lynx. The first and second intervals contain local visible gold, and 5% disseminated pyrite with pervasive silica flooding within a strongly silicified felsic fragmental dike. The third and fourth intervals contain up to 10% disseminated pyrite in pervasive silica flooding within a strong silica and fuchsite altered felsic fragmental dike. The fifth interval contains 20 % pyrite with pervasive silica flooding hosted in a sericitized and silicified felsic fragmental intrusion.

 

OSK-W-18-1758 intersected 5.96 g/t Au over 3.2 metres in Zone 27. Mineralization includes 5% pyrite stringers, and ptygmatic tourmaline veins within a moderate sericite altered felsic porphyritic fragmental intrusive.

 

OSK-W-18-1762 intersected 13.5 g/t Au over 4.7 metres in Lynx. Mineralization consists of local visible gold, 20% pyrite and 1% sphalerite with pervasive silica flooding hosted in a moderately sericitized and silicified rhyolite.

 

OSK-W-18-1763 intersected 7.75 g/t Au over 2.4 metres in Caribou. Mineralization includes up to 5% pyrite stringers, trace pyrite in quartz-carbonate veins and quartz-tourmaline veins within moderate silica and carbonate altered gabbro.

 

WST-18-004 intersected 13.0 g/t Au over 2.3 metres in Zone 27. Mineralization is composed of 1% pyrite in quartz-tourmaline veins and trace pyrite-tourmaline stringers within a moderate sericite altered felsic porphyritic dike.

 

WST-18-006 intersected 8.80 g/t Au over 2.0 metres in Zone 27. Mineralization is composed of 1% pyrite stringers and 2% disseminated pyrite within a chloritized felsic porphyritic dike.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s 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 and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) 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 assay.

 

About the Windfall Lake Gold Deposit

The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the Windfall Lake Technical Report (as defined below), comprises 2,382,000 tonnes at 7.85 g/t Au (601,000 ounces) in the indicated mineral resource category and 10,605,000 tonnes at 6.70 g/t Au (2,284,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake gold project, please see the technical report entitled “Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties” and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val-d’Or, Québec (the “Windfall Lake Technical Report”). The Windfall Lake Technical Report is available on Osisko’s website at www.osiskomining.com and on SEDAR under Osisko’s issuer profile at www.sedar.com). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2000 metres in others, with significant potential to extend mineralization 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-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québec’s 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 Québec and Ontario.

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, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the Windfall Lake gold deposit being a world-class gold system; the significance of new results from the ongoing deep-hole drill/exploration program at the Windfall Lake gold project; the significance of assay results presented in this news release; potential depth extensions of the Lynx and Underdog mineralized zones; the potential, if any of the Deep Underdog and Deep Lynx zones; the type and extend of drilling on the Deep Underdog and Deep Lynx zones, including planned wedge holes; the success of Osisko’s deep-hole drill/exploration program at the Windfall Lake gold project, if any; the down-plunge projection of the gold mineralized structures; the current 800,000 metre drill program; the type of drilling included in the drill program; potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; 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, including 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, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “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 the Corporation at the time such assumptions and estimates were made, and 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 ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; 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 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