Category: Company

(Montréal, July 13, 2016) Osisko Mining Inc. (OSK:TSX, “Osisko”) is pleased to announce that it has commenced a 20,000 metre drill program on its 100% owned Garrison property situated 100 kilometres east of Timmins, Ontario. The current work program will focus on the Garrcon and Jonpol deposits defined by previous operators on the property. The new drilling is designed to confirm the previous work and follow-up on potential higher grade underground zones at the bulk tonnage Garrcon deposit. Drilling will also be directed to further exploring the underground resource potential which remains open at depth on the Jonpol deposit.

About the Garrison Project

The Garrison Project project area is comprised of 214 mineral claims, 25 mining leases, and 87 patent claims encompassing approximately 8,000 hectares.

Both Garrcon and Jonpol have resource estimates that are described in a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), which was completed by a previous operator Northern Gold Mining Inc. (entitled “Technical Report on the Golden Bear Project – Garrison Property: Larder Lake Mining Division – Garrison Township, Ontario, Canada”) (the “Technical Report”) with an effective date of December 30, 2013. The Technical Report was prepared by A.C.A. Howe International Limited for Northern Gold Mining Inc. (a wholly-owned subsidiary of Osisko) and is available on Osiskos website at www.osiskomining.com and on SEDAR under Northern Gold Mining Inc.s issuer profile at www.sedar.com.

Resource estimates were conducted by A.C.A. Howe International Limited according to CIM standards. The Garrcon deposit estimates showed 15.1 million tonnes with an average grade of 1.07 g/t Au (521,000 oz) in measured resources; 14.1 million tonnes averaging 1.16 g/t Au (526,000 oz) in indicated resources; and 1.7 million tonnes averaging 0.72 g/t Au (39,000 oz) in inferred resources. Potential underground resources of 5.1 million tonnes averaging 3.49 g/t Au (577,000 oz) in the inferred category were also outlined. Resources were reported at a cut-off grade of 0.4 g/t Au for open pit extraction and 1.5 g/t in a bulk underground mining scenario using a gold price of US$1,250/oz.

At the Jonpol deposit, resources were estimated as 0.87 million tonnes averaging 5.34 g/t Au (150,000 oz) in the indicated category; and 1.07 million tonnes averaging 5.56 g/t Au (192,000 oz) in inferred resources. Resources were reported at a cut-off grade of 3.0 g/t Au and assume an underground extraction scenario using a gold price of US$1,250/oz.

Readers are cautioned that inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher category. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Garrcon Deposit

The Garrcon deposit has a shallow plunge eastward along the footwall of the Destor-Porcupine Fault Zone with the bulk of the resource in the western, more densely drilled area. The zone is exposed at surface and has potential for open pit bulk mining at an estimated overall stripping ratio of 1.8:1. There is potential for additional underground resources below the pit and along the easterly plunge of the zone, which is open for further exploration down dip and along strike.

The Garrcon shaft was sunk in 1935 and 1936 by the Consolidated Mining and Smelting Co. of Canada (“Cominco”) and the Shaft and South Zones were tested for high grade gold mineralization. Cominco drove approximately 1,430 meters of drifts and cross cuts, mining underground veins. Diamond drilling by Cominco and Lac Minerals Ltd. in the mid-to-late 1980s identified broad sections of low grade mineralization. In 2006-2007 ValGold Resources Ltd. conducted additional drilling confirming these zones. From 2009-2013 Northern Gold Mining Inc. conducted 97,000 meters of diamond drilling which delineated the current resource.

In 2014 Northern Gold Mining Inc. was granted a trial mining permit allowing the extraction of up to 150,000 tonnes. Northern Gold Mining Inc. mined 73,534 dry tonnes which was processed at the nearby Holt mill facility recovering 3,516.3 oz at an average head grade of 1.55 g/t and recovery of 95.9%. The trial production permit remains active.

Jonpol Deposit

Jonpol is situated in the Munro Fault Zone, a west striking splay off the north side of the Destor-Porcupine Fault. Hosted in a shear zone tens of meters wide in altered mafic volcanic rocks, the deposit consists of four high grade gold mineralized zones (JP, JD, RP and East) over a strike length of 1.7 kilometers. Gold mineralization is hosted in quartz carbonate veins, in mafic and ultramafic host rocks, and is associated with intense albite and/or sericite alteration and pyrite mineralization.

In 1997, a 49,087 tonne bulk sample of high sulphide ore (10% sulphide minerals) was extracted from the central part of the JP zone by Hillsborough Resources Limited with an average grade of 6.7 g/t which produced 9,476 ounces Au. From 1985-2013, over 130,000 meters of drilling was completed on the property by previous operators. Development work on the JP zone included the sinking of a 184 meter shaft as well as development of a ramp to the 150 meter level with mining on six sublevels. The Jonpol infrastructure underwent reclamation in the late 1990s and was closed out in 2001, but the existing ramp and shaft are preserved.

Qualified Person

The scientific and technical content of this press release has been reviewed by Mr. Greg Matheson, B.Sc, P.Geo. Project Manager, who is a “Qualified Person” within the meaning of NI 43-101.

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 near Lebel-sur-Quévillon, Québec, and holds a 100% undivided interest in a large area of claims in the surrounding Urban-Barry Townships area (82,400 hectares). Osisko also holds 100% interest in the Marban project located near Malartic, Québec and also holds 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 Company also holds interests and options in a number of additional properties in northern Ontario. Osisko is well financed with approximately $94 million in cash, cash equivalents and marketable securities (pro-forma financing announced June 27, 2016).

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 pending drilling, ongoing drill program, 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; the prospective significance of any historical information; 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; 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

(Toronto, July 6, 2016) Osisko Mining Inc. (OSK:TSX, “Osisko”) is pleased to announce that it has commenced exploration on its 100% owned Souart property situated 15 kilometres to the SW of the Windfall Project. The program will be carried out in parallel to ongoing work at the Windfall Project and will include trenching and drilling designed to confirm and expand upon historic work on Souart. 

Trenching has commenced with the design of exposing the gold-bearing structure defined by previous work on the property and to better understand its geometry prior to commencing Osiskos planned drill program.  Osisko plans to drill approximately 3,000 metres in this first phase to test the gold mineralized structure east of the historical resource.  In addition, 2,450 metres in ten historical drill holes (completed in 2011) have been re-logged and sampled with analytical results pending.

Qualified Person

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

About the Souart Property

The Souart property is located in Urban Township, approximately 90 kilometres east of Lebel sur Quevillon.  Souart is 15 kilometres southwest and parallel to the geological trend of Osisko’s Windfall Lake project. Three zones have been defined by historical work on the property including the Nubar Zone (with estimated resources of 564,000 tonnes at 6.2 g/t Au, based on historical estimates that have not been prepared in accordance with NI 43-101); the Tourmaline Hill Zone; and the Barry-Souart Zone.  The three separate zones are situated along a 5 kilometre length of the same geological structure.  Please see “Disclosure of Historical Estimates” below.

Disclosure of Historical Estimates

In 1950, Nubar Mines Ltd. sunk a 44 metre deep shaft and drove 135 metres of drifts and crosscuts.  Several exploration surveys were then completed by a number of other companies (Glenelm Developers Limited, Goldmaster Mines Ltd., Shell Canada Limited, Tut Explorations, Société de développement de la Baie-James (SDBG) and Oasis Resources Inc.).  Between 1985 and 1990, Oasis Resources Inc. completed 152 drill holes, followed with an estimated resource calculation of 564,000 tonnes at 6.2 g/t Au. This resource estimate is of a historical nature and does not comply with NI 43-101. However, the resource estimate may be relevant because the Souart property forms part of the same geological trend encompassed by the Nubar Zone and, to the best of the knowledge of Mr. Jean-Philippe Desrochers, Qualified Person, there has been no material change with respect to the metallic minerals within the original resource estimation area (and region) that would affect the estimation parameters since 1985.  Further drilling would be required to upgrade or verity the historical resource estimate as current mineral resources or reserves.  Osisko is unaware of the existence of any technical report prepared in connection with the scientific and technical information in this news release. A Qualified Person (within the meaning of NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Osisko is not treating the historical estimate as current mineral resources or mineral reserves. Further, there have not been any mineral resources calculated on the Souart property recently.

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 Company also holds interests and options in a number of additional properties in northern Ontario. Osisko is well financed with approximately $94 million in cash, cash equivalents and marketable securities (pro-forma financing announced by Osisko on June 27, 2016).

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 pending drilling, ongoing drill program, 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”, “is designed”, “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; 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

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

(Montréal, June 27, 2016) Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led, by Canaccord Genuity Corp. (collectively the “Underwriters”), whereby the Underwriters have agreed to purchase, on a “bought deal” basis, 7,570,000 flow-through common shares of the Corporation (the “Flow-Through Shares”) at an average price of approximately $3.33 per Flow-Through Share (representing a 45% premium to the closing price of common shares of the Corporation on the Toronto Stock Exchange (the “TSX”) on June 24, 2016), for gross proceeds of $25,010,800 (the “Offering”).

The gross proceeds from the Offering will be used to fund “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to Osiskos projects in Ontario and Québec.

The Offering is being made by way of private placement in Canada. The Flow-Through Shares will not be offered or sold in the United States. The Offering is expected to close on or about July 27, 2016, and is subject to customary closing conditions including, but not limited to, the listing of the Flow-Through Shares on the TSX and the receipt of all necessary approvals, including the approval of the TSX and the relevant securities regulatory authorities. The Flow-Through Shares issued under this Offering will be subject to a four-month hold period.

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-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 is well financed with approximately $69 million in cash, cash equivalents and marketable securities.

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 Offering; the use of the gross proceeds from the Offering; the jurisdictions in which the Flow-Through Shares are offered or sold; the number of Flow-Through Shares offered or sold; the gross proceeds from the Offering; the timing and ability of the Corporation to close the Offering, if at all; the timing and ability of the Corporation to satisfy the customary listing conditions of the TSX, if at all; the timing and ability of the Corporation to obtain all necessary approvals; 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 Offering; volatility in the trading price of common shares of the Corporation; property interests; 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
Osisko Mining Inc.
Telephone: (416) 363-8653

(Montréal, June 22, 2016) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce the addition to its senior management team of Mr. John Hayes, who will fill the position of Senior Vice President, Corporate Development.  Mr. Hayes, a well-recognized and respected figure in the Canadian and international mining industry, is a professional geologist with over 17 years of exploration experience and many years of capital markets experience.  John graduated from Memorial University of Newfoundland with an Honours Bachelor of Science in Geology (1989) and a Master of Science in Geology (1997).  He also holds an MBA from Dalhousie University (2003), and is a member (P. Geo.) of the Professional Engineers and Geoscientists of Newfoundland and Labrador.  From 2003 until 2014, Mr. Hayes was a Managing Director and mining analyst at BMO Capital Markets.  As a mining equity analyst, John covered global precious and base metal companies from exploration to production stages.  Mr. Hayes currently serves as a Director of Eco Oro Minerals Corp. and is a member of the Advisory Board of Aston Bay Holdings Inc..

The Corporation is also pleased to announce that Mr. Jose Vizquerra Benavides, formerly the Senior Vice President of Corporate Development and Chief Operating Officer, will now serve as Osisko’s Executive Vice President of Strategic Development.

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-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 Company also holds interests and options in a number of additional properties in northern Ontario. Osisko is well financed with approximately $74 million in cash, cash equivalents and marketable securities.

For further information please contact:

John Burzynski
President and Chief Executive Officer
Osisko Mining Inc.
Telephone: (416) 363-8653

(Toronto, June 14, 2016).  Oban Mining Corporation (OBM:TSX, “Osisko” or the “Corporation”) announces that it has changed its name to “Osisko Mining Inc.” (the “Name Change”). The Corporation has adopted the name “Osisko Mining Inc.”, and will formalize its re-branding initiatives in the near future, to reflect the evolution of the Corporation since the beginning of 2015 as a result of its consolidation activities in Ontario and Québec. The original Osisko Mining Corporation earned international recognition with the successes of its exploration and development team – a team that included several current members of the Corporations board and senior management – crowned by the discovery, development and operation of the Canadian Malartic mine in the Abitibi region of north-western Québec, until the joint acquisition of Osisko Mining Corporation in June 2014 by Agnico Eagle Mines Limited and Yamana Gold Inc. The Corporation wishes to reintroduce the Osisko Mining name to the mining and investment communities to better reflect the Corporations current management, board and technical teams that were responsible for much of the success of the original Osisko Mining Corporation, and the highly prospective mineral project portfolio in Québec and Ontario that management believes will allow the Corporation to continue the fulfilment both of the Corporations potential and its commitments to all of its stakeholders. At the annual and special meeting of shareholders of the Corporation held on June 7, 2016, shareholders of the Corporation representing approximately 98.99% of the votes cast on the matter overwhelmingly approved the special resolution to change the name of the Corporation from “Oban Mining Corporation” to “Osisko Mining Inc.”.

Subject to Toronto Stock Exchange (“TSX”) approval, it is expected that the common shares of the Corporation will commence trading on the TSX under the Corporations new name and new stock symbol “OSK” at the opening of business on or about June 21, 2016. It is also expected that, subject to TSX approval, the common share purchase warrants of the Corporation which trade on the TSX under the symbol “OBM.WT” will commence trading on the TSX under the new symbol “OSK.WT” at the opening of business on or about June 21, 2016.

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 is well financed with approximately $74 million in cash, cash equivalents and marketable securities.

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 re-branding of the Corporation; managements beliefs about the Corporations mineral projects; the timing relating to the trading of the common shares and common share purchase warrants of the Corporation under the Corporations new name and any new trading symbols; 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; 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

(Toronto, June 13, 2016).  Oban Mining Corporation (OBM:TSX, “Oban” or the “Corporation”) is pleased to provide an updated resource estimate for its 100%-owned Marban gold project, located near the town of Malartic, Québec. This update is the result of 92,900 metres of infill drilling and historical core re-sampling executed since the last published resource estimates on the Marban and Norlartic deposits. The new estimate has produced an increase in the overall gold resource and an upgrading of the bulk of the resources to robust measured and indicated (M&I), pit-constrained categories. This updated estimate was prepared by Belzile Solutions Inc. based in Rouyn-Noranda, Québec.  Mine Development Associates based in Reno, Nevada previously estimated the Marban project resources in 2007, 2010 and 2013.

Highlights:

• The in-pit M&I resource (total of both Marban and Norlartic) now stands at 1.48 million ounces gold in 37.0 M tonnes at an undiluted grade of 1.24 g/t Au, with in-pit inferred resource adding 0.13 million ounces gold in 3.6 M tonnes at an undiluted grade of 1.15 g/t Au.  Pit-constrained resources are based on a Whittle-optimized pit shell using a gold price of US$1,250 per ounce and a calculated external lower cut-off of 0.4 g/t Au (see table below).
   
• At a higher cut-off grade of 1.0 g/t Au, the in-pit M&I resources stand at 1.04 million ounces gold in 16.5 M tonnes at an undiluted grade of 1.97 g/t Au, representing 70% of the overall pit-constrained M&I ounces.
   
• The new global M&I mineral inventory currently stand at 1.83 million ounces gold in 47.6 M tonnes with an average grade of 1.20 g/t Au and the global inferred mineral inventory stands at 0.41 million ounces gold in 12.2 M tonnes at an average grade of 1.03 g/t Au (based on 0.40 g/t Au lower cut-off; see table below).
   
• Both Marban and Norlartic are open at depth and further drilling is planned to establish the potential for additional resources that may be mined by underground methods.

John Burzynski, President and CEO of Oban, commented: “We are very pleased with the new updated resource estimate for the Marban Project. Whittle-constrained in-pit M&I resources for the Marban and Norlartic deposits increased by 16% for a total of 1.48 M oz at $US1250 gold price, with an additional 134,000 oz in the inferred category. It is important to note that at higher cut-off grade of 1.0 g/t Au, the deposits still contain a total of 1.04 M oz in the M&I categories at a grade of 1.97 g/t Au, representing 70% of the overall M&I resources. Significantly, the new Whittle shells have lowered the overall strip ratio to 6.3 and we feel confident that this ratio can be further reduced with the upcoming detailed engineered pit shells.  We are particularly pleased that the global mineral inventory remains at a strong combined number, allowing for additional potential upside in a rising gold price environment.”

 

Table 1 – Undiluted resource estimates within US$1,250

Whittle pit shell¹

1. Cut-off grade of 0.40 g/t Au and average strip ratio of 6.29 (excluding overburden).
2. Rounded to nearest 1 million, which may cause apparent discrepancies.
3. Rounded to nearest 1 thousand, which may cause apparent discrepancies.

Sensitivity of the undiluted in-pit resource (based on variable minimum cut-off grades) is as follows:

 

Table 2a – Sensitivity of undiluted resource estimates to cut-off, within US$1,250 Whittle pit shell

Marban Deposit

1. Rounded to nearest 1 million, which may cause apparent discrepancies.
2. Rounded to nearest 1 thousand, which may cause apparent discrepancies.

   

Table 2b – Sensitivity of undiluted resource estimates to cut-off, within US$1,250 Whittle pit shell

Norlartic Deposit

1. Rounded to nearest 1 million, which may cause apparent discrepancies.
2. Rounded to nearest 1 thousand, which may cause apparent discrepancies.

 

Table 2c – Sensitivity of undiluted resource estimates to cut-off, within US$1,250 Whittle pit shell

Marban+Norlartic Deposits

1. Rounded to nearest 1 million, which may cause apparent discrepancies.
2. Rounded to nearest 1 thousand, which may cause apparent discrepancies.

 

Global mineral inventories are not pit-constrained and, for reporting purposes here, represent mineralization extending to a depth of 400 metres below surface for the Marban deposit and 200 metres below surface for the Norlartic deposit.  Both deposits are open at depth. Global M&I mineral inventories currently stand at 1.83 million ounces at an average grade of 1.20 g/t Au and the global inferred mineral inventory stands at 0.40 million ounces at an average grade of 1.03 g/t Au:

Table 3 – Global Mineral Inventory Estimates at 0.4 g/t lower cut-off

Details on the parameters of the resource estimates are as follows:

• The database comprised a total of 723 holes for 221,200 metres of drilling completed and assayed by Oban (Niogold) as of the end of November 2015 on a 25 metre x 25 metre grid to 25 metre x 50 metre grid. Another 379,440 metres of the database were from 3,855 historical holes and 9,183 metres from 1,356 channels from the Marban mine compiled from previous operators.
   
• The database also comprised a total of 305,652 assays with an average of 1.5 metre per sample for a total of 339,086 assayed metres. All NQ and BQ core assays reported by Oban were obtained by standard 50 g fire assaying-AA finish or gravimetric finish at ActLabs laboratory in Ste-Germaine Boulé, Québec, which is an accredited laboratory. A quality assurance and quality control program (QA/QC) was implemented by Oban and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program included the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 3 g/t Au by fire-assay using a gravimetric finish. As well, 5% of the pulps grading above 0.3 g/t Au are sent to Accurassay laboratories in Rouyn-Noranda for check assaying.
   
• The present estimates were done using Inverse Distance Cubed (ID3) interpolation as the geostatistical method based on 2.0 metre analytical composites. ID2 and Ordinary kriging interpolation have also been used for comparison with no significant variations in results.
   
• All estimates are based on a block dimension of 10 metres E, 5 metres N and 5 metres height with estimation parameters determined by variography.
   
• Geological interpretation based on lithologies, folds and mineralized shears, made from cross-sections at 6 to 12.5-metre intervals, identified, for the Marban deposit, a total of 94 mineralized low domains, of which 40 include higher-grade sub-domains, for a total of 134 distinct domains. The domains comprise stacked mineralized shears that strike east-west and dip 45 to 50 degrees north. Minimum width was set to three metres.
   
• Calculations are based on original samples within mineralized domains capped to a maximum of 30 g/t Au for all low-grade domains and to a maximum of 45 to 80 g/t Au for the high-grade domains. Globally, about 0.25% of the population has been capped representing an apparent gold loss varying between 5 and 15% depending of the domains. All 2-metres composites are calculated based on cut original data. In addition to the assay capping, restrictions were placed during grade interpolation on the influence of high-grade composites in low grade mineral domains.
   
• Tonnage estimates are based on average densities ranging from 2.70 to 2.86 t/m3 with a  2.80 t/m3 density for the basalt (the principal ore host), based on a total of 902 specific gravity measurements (624 for Marban and 278 for Kierens-Norlartic).
   
• The ounces estimated into the modeled workings of the past-producing Marban and Norlartic mines were removed from the mineral resources;
   
• The Norlartic potential pit has the Keriens Creek flowing over a portion of it. Current baseline environmental studies will assess the possibility of deviating it.
   
• Pit optimization parameters are summarized in the table below:

Parameter	Unit	Value
Gold price	US$/oz	1250
Royalties	%	3.0%
Refining cost	US$/oz	3.75
Milling Rate	Tpd	10,000
Processing cost	US$/t milled	10.60
Administration	US$/t milled	0.75
Sustaining capital	US$/t milled	0.94
Total ore cost	US$/t milled	12.29
Recovery	%	89.0%
Cut-off grade	g/t Au	0.40
Base mining cost rock	US$/t mined	1.88
Incr. bench cost	US$/bench	0.02
Mining cost overburden	US$/t mined	1.50
Density overburden	t/m3	2.0
Pit slopes N-E-W walls	degrees	50
Pit slopes south walls	degrees	45

Qualified Persons

Mr. Elzéar Belzile, Eng. of Belzile Solutions Inc. (global resource estimate) and is independent “Qualified Person”, as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), responsible for the technical information reported herein, including verification of the data disclosed. Mr. Thomas L. Dyer, P.E. of Mine Development Associates is also independent “Qualified Person” and is responsible for Whittle pit optimizations.  Mr. Yan Ducharme, P. Geo. and Mr. Robert Wares, P. Geo., are “Qualified Persons” (as defined in NI 43-101) internal to Oban who have reviewed and approved the resource estimates and the technical contents of this news release.

About Oban Mining Corporation

Oban is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Oban 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. Oban is well financed with approximately $74 million in cash, cash equivalents and marketable securities.

Cautionary Notes Concerning Estimates of Mineral Resources

This news release uses the terms measured, indicated and inferred resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. In addition, inferred resources are considered too geologically speculative to have any economic considerations applied to them. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Assessment as defined under NI 43-101. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.

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 resource estimates, the Marban and Norlartic deposits, pending drilling, ongoing drill program, 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 Oban, 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 Oban 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; ability of Oban 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, Oban 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 Oban nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Oban 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

Approval of Name Change to Osisko Mining Inc.

Toronto, Ontario (June 7, 2016) – Oban Mining Corporation (TSX:OBM) (the “Corporation“) is pleased to announce the results of its annual and special meeting of shareholders (the “Meeting“) held on June 7, 2016.

A total of 49,079,954 common shares (“Common Shares“) were represented at the Meeting and all matters presented for approval at the Meeting were duly authorized and approved, as follows:

1. election of all management nominees to the board of directors of the Corporation;
2. appointment of PricewaterhouseCoopers LLP as auditors of the Corporation for the ensuing year and authorization of the directors to fix their remuneration; and
3. approval to change the name of the Corporation from “Oban Mining Corporation” to “Osisko Mining Inc.”.

Detailed voting results regarding the election of directors are as follows:

Further details on the above matters, including the report of voting results thereon, are set out in the Corporation meeting materials, which are available on SEDAR under the issuer profile of the Corporation at www.sedar.com.

Name Change to Osisko Mining Inc.

At the Meeting, shareholders of the Corporation representing approximately 98.99% of the votes cast on the matter overwhelmingly approved the special resolution to change the name of the Corporation from “Oban Mining Corporation” to “Osisko Mining Inc.”. The Corporation will adopt the name “Osisko Mining Inc.” and formalize its re-branding initiatives in the near future, which reflects the evolution of the Corporation since the beginning of 2015, including its assets and management, and following its consolidation activities in Ontario and Québec. The original Osisko Mining Corporation earned international recognition with the successes of its exploration and development team – a team that includes the original founders of Osisko who are now senior management and on the board of directors of the Corporation (the “Board”) – crowned by the discovery, development and operation of the Canadian Malartic mine in the Abitibi region of north-western Québec, until the joint acquisition of Osisko Mining Corporation in June 2014 by Agnico Eagle Mines Limited and Yamana Gold Inc. The Corporation wishes to reintroduce the Osisko Mining name to the mining and investment communities to better reflect the Corporations current management, Board and technical teams that were responsible for much of the success of the original Osisko Mining Corporation, and the highly prospective mineral project portfolio in Québec and Ontario that management believes will allow the Corporation to continue the fulfilment both of the Corporations potential and its commitments to all of its stakeholders. The Corporation enjoys strong sponsorship from its largest shareholder Osisko Gold Royalties Ltd., who together with management and insiders of the Corporation currently owns approximately 19.9% of the shares of the company.

The Corporation has notified the Toronto Stock Exchange (“TSX“) of the proposed name change. Subject to TSX approval, it is expected that the Common Shares will commence trading on the TSX under the new name and under the new stock symbol “OSK” at the opening of business two or three days subsequent to the effecting of the name change by the Corporation, subject to the receipt by the TSX of the necessary documentation.

About the Corporation

The Corporation is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. The Corporation 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. The Corporation is well financed with approximately $74 million in cash, cash equivalents and marketable securities.

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. 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 statements. In this news release, forward-looking statements relate, among other things, to: the matters to be considered at the Meeting; the steps required for the Corporation to change its name from “Oban Mining Corporation” to “Osisko Mining Inc.” and the related Shareholder, stock exchange and regulatory approvals; the timing and ability of the Corporation to change its name from “Oban Mining Corporation” to “Osisko Mining Inc.”; and the timing for holding the Meeting.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Corporation at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Corporation believes, or believed at the time, to be reasonable assumptions, the Corporation cannot assure Shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.Readers should not place undue reliance on the forward‐looking statements and information contained in this news release. The Corporation assumes no obligation to update the forward‐looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

For further information on the Corporation please contact:
John Burzynski
President & Chief Executive Officer
Tel: (416) 848-9504

Approbation du changement de nom à Minière Osisko inc.

Toronto, Ontario (7 juin 2016) – Oban Mining Corporation (TSX : OBM) (la “Société“) est heureuse d’annoncer les résultats de son assemblée annuelle et extraordinaire des actionnaires (l’ « assemblée ») tenue le 7 juin 2016.

Un total de 49 079 954 actions ordinaires (les « actions ordinaires ») étaient représentées à l’assemblée et toutes les résolutions présentées à l’assemblée pour approbation ont été dûment autorisées et approuvées :

1. l’élection de tous les nominés au conseil d’administration de la Société;
2. nomination de PricewaterhouseCoopers LLP à titre d’auditeur de la Société pour l’année à venir et l’autorisation des administrateurs afin de déterminer leur rémunération; et
3. l’approbation du changement de nom de la Société de « Oban Mining Corporation » à « Minière Osisko inc. ».

Les résultats détaillés du vote concernant l’élection des administrateurs sont indiqués dans le tableau ci-dessous :
 

Nom	Votes en faveur (#)	Votes en faveur (%)	Abstentions (#)	Abstentions (%)
John Burzynski	44 474 393	99,46	243 537	0,54
Jose Vizquerra	44 455 488	99,41	262 442	0,59
Sean Roosen	44 273 059	99,01	444 871	0,99
Ned Goodman	43 962 364	98,31	755 566	1,69
Robert Wares	44 277 362	99,01	440 568	0,99
Patrick F.N. Anderson	44 285 948	99,03	431 982	0,97
Keith McKay	44 604 738	99,75	113 192	0,25
Murray John	44 064 132	98,54	653 798	1,46
David Christie	44 004 436	98,40	713 494	1,60
Bernardo Alvarez Calderon	44 611 773	99,76	106 157	0,24

 

Pour plus de détails, incluant le rapport sur les résultats du vote, veuillez vous référer à la documentation de la Société relative à l’assemblée, disponible sur SEDAR sous le profil de l’émetteur de la Société au www.sedar.com.

Changement de nom pour Minière Osisko inc.

À l’assemblée, les actionnaires de la Société représentant environ 98,99 % des votes enregistrés à cet effet ont approuvé en très forte majorité la résolution spéciale concernant le changement de nom de la Société de « Oban Mining Corporation » à « Minière Osisko inc. ». La Société adoptera le nom « Minière Osisko inc. » et formalisera les démarches de changement d’image de marque dans un futur rapproché, reflétant ainsi l’évolution de la Société depuis le début de 2015, incluant ses actifs et l’équipe de gestion, et suite à ses activités de consolidation en Ontario et au Québec. La première Osisko Mining Corporation a atteint une reconnaissance internationale grâce aux succès de ses équipes d’exploration et de développement, comprenant les fondateurs d’Osisko qui font maintenant partie de la haute direction et du conseil d’administration (le « conseil d’administration »). Cette reconnaissance internationale a été couronnée par la découverte, le développement et la mise en opérations de la mine Canadian Malartic située dans la région de l’Abitibi, au nord-ouest du Québec, jusqu’à l’acquisition de Osisko Mining Corporation en juin 2014 par les sociétés Mines Agnico Eagle ltée et Yamana Gold inc. La Société souhaite réintroduire le nom Osisko Mining dans la communauté minière et d’investissement afin de mieux mettre en valeur l’équipe de gestion actuelle, le conseil d’administration et les équipes techniques qui ont été responsables pour la grande part du succès de la société originale Osisko Mining Corporation, et le portefeuille de projets miniers hautement prometteurs au Québec et en Ontario que la direction estime être en mesure de permettre à la Société d’atteindre son potentiel et ses engagements envers toutes les parties prenantes. La Société jouit du solide support de son plus important actionnaire Redevances Aurifères Osisko ltée qui détient, en tenant compte des gestionnaires et des initiés de la Société, approximativement 19,9 % des actions de l’entreprise.

La Société a avisé le Bourse de Toronto (« TSX ») du changement de nom proposé. Suite à l’approbation du TSX, il est prévu que les actions ordinaires commenceront à être transigées sur le TSX sous le nouveau nom et sous le nouveau symbole boursier « OSK » à l’ouverture des marchés deux ou trois jours suite à la prise d’effet du changement de nom par la Société, assujetti à la réception par le TSX de la documentation nécessaire.

À propos de Oban Mining Corporation

La Société est une société dexploration minière axée sur lacquisition, lexploration et la mise en valeur de propriétés de ressources de métaux précieux au Canada. La Société détient 100 % du gîte aurifère à haute teneur du Lac Windfall, situé entre les villes de Val-dOr et Chibougamau au Québec, ainsi quune participation indivise de 100 % dans un important groupe de claims dans le secteur avoisinant dUrban-Barry (82 400 hectares), en plus dune participation de 100 % dans le projet Marban, situé au cœur du prolifique district minier aurifère de lAbitibi au Québec. La Société détient aussi des propriétés dans le district minier de Larder Lake, dans le nord-est de lOntario, qui couvrent notamment les gîtes Jonpol et Garrcon sur la propriété Garrison, lancienne mine Buffonta et la propriété minière Gold Pike. La Société détient aussi des participations et des options visant plusieurs autres propriétés dans le nord de lOntario. La Société est bien financée puisquelle dispose denviron 74 millions de dollars en trésorerie, en équivalents de trésorerie et en titres négociables.

Le présent communiqué contient des « renseignements prospectifs » et des « énoncés prospectifs » (collectivement, des « énoncés prospectifs ») au sens attribué à ces termes par les lois canadiennes applicables sur les valeurs mobilières. Tous les énoncés, autres que les énoncés de faits historiques, sont des énoncés prospectifs et sont basés sur les attentes, les estimations et les projections en date du présent communiqué. Tout énoncé qui implique des discussions à légard de prévisions, dattentes, dopinions, de plans, de projections, dobjectifs, dhypothèses, dévénements ou de rendements futurs (utilisant souvent, mais pas forcément, des expressions comme « sattend » ou « ne sattend pas », « est prévu », « anticipe » ou « nanticipe pas », « planifie », « budget », « échéancier », « prévisions », « estime », « est davis », « a lintention », ou des variations de ces expressions ou des énoncés indiquant que certaines actions, événements ou résultats « pourraient » ou « devraient » se produire, « se produiront » ou « seront atteints ») nest pas un énoncé de faits historiques et pourrait constituer un énoncé prospectif. Dans le présent communiqué, les énoncés prospectifs portent notamment sur les sujets qui seront abordés lors de l’Assemblée; les étapes à franchir pour que la Société change de dénomination de « Oban Mining Corporation » à « Minière Osisko inc. » et les approbations des actionnaires, de la Bourse et des autorités règlementaires à cet effet; les délais et la capacité de la Société à changer de dénomination de « Oban Mining Corporation » à « Minière Osisko inc. »; et la date prévue de l’Assemblée.

Ces énoncés prospectifs reposent sur des hypothèses raisonnables et des estimations faites par la direction de la Société au moment où ces énoncés ont été formulés. Les résultats réels dans l’avenir pourraient être sensiblement différents puisque les énoncés prospectifs impliquent des risques connus et inconnus, des incertitudes et dautres facteurs qui pourraient faire en sorte que les résultats réels, le rendement ou les réalisations de la Société soient sensiblement différents des résultats, du rendement ou des réalisations futurs explicitement ou implicitement indiqués par de tels énoncés prospectifs. Bien que les énoncés prospectifs contenus dans le présent communiqué soient basés sur des hypothèses considérées raisonnables de lavis de la direction de la Société au moment de leur publication, la Société ne peut garantir aux Actionnaires que les résultats réels seront conformes aux énoncés prospectifs, puisquil pourrait y avoir dautres facteurs qui auraient pour effet que les résultats ne soient pas tels quanticipés, estimés ou prévus. Les lecteurs ne devraient pas accorder d’importance indue aux énoncés et aux renseignements prospectifs contenus dans le présent communiqué. La Société nassume aucune obligation dactualiser les énoncés prospectifs portant sur des avis, des opinions, des projections ou d’autres facteurs, s’ils venaient à changer, sauf si requis par la loi.

Pour plus dinformation sur la Société, veuillez communiquer avec :

John Burzynski
Président et chef de la direction
Téléphone : (416) 848-9504

12.72 g/t Au over 1.5 Metres 3.3 Km West of Main Deposit

(Toronto, June 3, 2016).  Oban Mining Corporation (OBM:TSX, “Oban” or the “Corporation”) is pleased to announce the discovery of new gold mineralization as part of the company’s new regional exploration drill program, on its 100% owned Windfall Project located in the Urban Township, Québec. The regional exploration drilling is focusing on testing an inventory of gold-in-till anomalies with coincident geophysical (Induced Polarization) signatures defined during the fall 2015 till and winter 2016 geophysics programs.

The new mineralization is located approximately three kilometres west – southwest of the main Windfall deposit and is currently defined by two drill holes spaced approximately 700 metres apart. DDH OBX-16-666 intersected 183.5 g/t Au over 0.3 metres and DDH OBX-16-652 intersected 12.7 g/t Au over 1.5 metres. DDH OBX-16-652 was collared 200 metres SE of an historical hole (1987) that returned 41.4 g/t Au over 0.7 metres. The new holes underscore the strong potential for new gold mineralization on the Windfall Lake property, which has historically seen sparse detailed exploration. The table below details results from the two new holes(1):

Hole		From (m)	To (m)	Interval (m)	Au (g/t)	Zone
OBM-16-652		208.70	210.20	1.50	12.72	New
OBM-16-666		284.00	284.30	0.30	183.5	New

 

Notes:

1. For complete drilling results please see www.obanmining.com.

Drill Hole Collar Coordinates and Information:

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N
OBX-16-652	167	-44	235.5	448639	5434175
OBX-16-666	335	-48	421.5	449316	5434385

 

OBX-16-652 targeted an Induced Polarization (“IP”) anomaly, 3.3 km to the WSW of the Main Zone at Windfall. The drill hole intersected 12.72 g/t Au over 1.5 metres in a crustiform carbonate-quartz vein bearing similarity to high grade gold veins present in the Windfall Main Zone. The hole was located on a combined gold-in-till anomaly with an overlying IP anomaly.

OBX-16-666 tested another IP anomaly located 2.7 km WSW of the Main Zone at Windfall (700 metres to the ENE of OBX-16-652) and intersected a sheared quartz vein containing sights of visible gold, hosted in a silicified intrusion. The vein material returned 183.5 g/t Au over 0.3 metres.

OBX-16-665 was a failed hole abandoned at 21 metres depth, collared at the same location as OBX-16-666. Three additional holes (OBX-16-657, -659 and -661) were collared in a cluster located 280 m south of OBX-16-652 but did not return significant results. Five other regional holes (OBX-16-637, -638, -641,-644 and -646) were drilled on a target located 8.3 km NE of the Windfall deposit but did not return significant results.

Qualified Person

The scientific and technical content of this press release has been reviewed 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, Quebec, 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 Oban Mining Corporation

Oban is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Oban 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 Company also holds interests and options in a number of additional properties in northern Ontario. Oban is well financed with approximately $74 million in cash, cash equivalents and marketable securities.

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 pending drilling, ongoing drill program, 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 Oban, 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 Oban 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; ability of Oban 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, Oban 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 Oban nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Oban 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

12,72 g/t Au sur 1,5 metre 3,3 km à l’ouest de Gisement Principal

(Toronto, 3 juin 2016).  Oban Mining Corporation (TSX : OBM, « Oban » ou « la Société ») est heureuse d’annoncer la découverte d’une nouvelle minéralisation aurifère dans le cadre du récent programme de forage d’exploration régionale de la Société sur le projet aurifère Lac Windfall, détenu à 100 % par Oban et situé dans le canton d’Urban au Québec. Les forages d’exploration régionale ont vérifié un ensemble d’anomalies en or répertoriées dans le till qui coïncidaient avec des signatures géophysiques (polarisation provoquée) définies lors des programmes de levés géophysiques et d’échantillonnage de till de l’automne 2015 et de l’hiver 2016.

La nouvelle minéralisation, qui est située à approximativement trois kilomètres à l’ouest de la zone Principale du gîte du Lac Windfall, est présentement définie par deux forages espacés d’environ 700 mètres. Le forage au diamant OBX-16-666 a recoupé 183,5 g/t Au sur 0,3 m alors que le forage au diamant OBX-16-652 a recoupé 12,7 g/t Au sur 1,5 m. Le collet du forage OBX-16-652 se trouvait à 200 mètres au sud-est d’un forage historique qui avait recoupé 41,4 g/t Au sur 0,7 mètre (1987). Les nouveaux forages soulignent le fort potentiel de nouvelles minéralisations aurifères sur la propriété Lac Windfall, dont l’exploration détaillée fût plutôt dispersée par le passé. Le tableau ci-dessous présente les résultats des deux nouveaux forages (1) :

Forage		De (m)	À (m)	Intervalle (m)	Au (g/t)	Zone
OBM-16-652		208,70	210,20	1,50	12,72	Nouvelle zone
OBM-16-666		284,00	284,30	0,30	183,5	Nouvelle zone

Notes :

1. Pour tous les résultats de forage, veuillez consulter www.obanmining.com.

Information et coordonnées des collets des forages

Forage n°	Direction (°)	Pendage (°)	Longueur (m)	UTM E	UTM N
OBX-16-652	167	-44	235,5	448 639	5 434 175
OBX-16-666	335	-48	421,5	449 316	5 434 385

OBX-16-652 ciblait une anomalie de polarisation provoquée (« PP »), à 3,3 km à l’OSO de la zone Principale du gîte du Lac Windfall. Le forage a recoupé 12,72 g/t Au sur 1,5 m dans un filon crustiforme de quartz-carbonates similaire aux veines à haute teneur en or présentes dans la zone Principale du gîte du Lac Windfall. Le forage était situé au nord d’une anomalie en or dans le till coïncidant à une anomalie de PP.

OBX-16-666 vérifiait une autre anomalie PP située à 2,7 km au OSO de la zone Principale du gîte du Lac Windfall (700 mètres à l’ENE d’OBX-16-652) et a recoupé une veine de quartz cisaillée contenant des points d’or visible, à l’intérieur d’une intrusion silicifiée. L’analyse de la veine a donné 183,5 g/t Au sur 0,3 mètre.

OBX-16-665 est un forage abandonné, interrompu à 21 mètres de profondeur et situé au même endroit qu’OBX-16-666. Trois autres forages (OBX-16-657, OBX-16-659 et OBX-16-661) étaient regroupés à 280 m au sud d’OBX-16-652, mais n’ont pas obtenu de résultats significatifs. Cinq autres forages d’exploration régionale (OBX-16-637, OBX-16-638, OBX-16-641, OBX-16-644 et OBX-16-646) ont été réalisés sur une cible située à 8,3 km au NE du gîte du Lac Windfall, mais n’ont pas obtenu de résultats significatifs.

Personne qualifiée

Le contenu scientifique et technique du présent communiqué a été révisé par Jean-Philippe Desrochers, Ph.D., géo., chef de projet principal sur le projet aurifère du Lac Windfall et personne qualifiée en vertu du Règlement 43-101 sur l’information concernant les projets miniers (le « Règlement 43-101 »).

Contrôle de la qualité

Les épaisseurs vraies des nouveaux intervalles de forage d’exploration publiés dans le présent communiqué n’ont pas encore été établies. Des forages supplémentaires sont planifiés dans le secteur immédiat, lesquels permettront la détermination de l’épaisseur vraie. Les résultats d’analyse n’ont pas été coupés, sauf indication contraire. Tous les résultats d’analyse de carottes de forage de calibre NQ ont été obtenus soit par pyroanalyse avec tamisage métallique de la roche totale sur des fractions de 1 kilogramme ou par pyroanalyse standard avec fini par absorption atomique ou fini gravimétrique sur des fractions de 50 grammes aux laboratoires ALS de Val-d’Or (Québec) ou de Sudbury (Ontario). La méthode d’analyse par tamisage métallique sur une fraction de 1 kilogramme est privilégiée par le géologue lorsque l’échantillon contient de l’or grossier ou présente un pourcentage plus élevé de pyrite que les sections avoisinantes. Tous les échantillons ont aussi été analysés pour plusieurs éléments incluant l’argent, par la méthode Aqua Regia-ICP-AES aux laboratoires ALS. La conception du programme de forage, le programme d’assurance-qualité/contrôle de la qualité (AQ/CQ) et l’interprétation des résultats sont effectués par des personnes qualifiées appliquant un programme d’AQ/CQ conforme au Règlement 43-101 et aux meilleures pratiques de l’industrie. Des échantillons de référence et des blancs sont insérés à tous les 20 échantillons dans le cadre du programme d’AQ/CQ par la Société et par le laboratoire. Environ 5 % des pulpes d’échantillons sont expédiés à d’autres laboratoires pour des analyses de vérification.

À propos du gîte aurifère du Lac Windfall

Le gîte aurifère du Lac Windfall est situé entre Val-d’Or et Chibougamau, dans la région de l’Abitibi au Québec (Canada). Les ressources minérales sont présentement estimées à 2 762 000 tonnes à 8,42 g/t Au (748 000 onces) dans la catégorie indiquée et à 3 512 000 tonnes à 7,62 g/t Au (860 000 onces) dans la catégorie présumée (tiré d’un rapport technique daté du 10 juin 2015, intitulé « Preliminary Economic Assessment of the Windfall Lake Gold Property, Quebec, Canada » avec une date d’effet au 28 avril 2015, préparé conformément au Règlement 43-101). Le gîte aurifère du Lac Windfall est actuellement l’un des projets à l’étape des ressources avec les plus hautes teneurs en or au Canada. La majeure partie de la minéralisation se trouve dans la zone Principale, orientée sud-ouest/nord-est et formée d’un empilement de lentilles minéralisées, qui mesure environ 600 mètres de large par au moins 1 400 mètres de long. Le gîte est bien défini de la surface jusqu’à une profondeur de 500 mètres et demeure ouvert latéralement et en profondeur. De la minéralisation a été identifiée à seulement 30 mètres sous la surface dans certains secteurs et jusqu’à 870 mètres de profondeur dans d’autres secteurs ; il existe donc un grand potentiel d’étendre la zone de minéralisation connue vers la surface et en profondeur dans l’axe de plongée.

À propos de Oban Mining Corporation

Oban est une société d’exploration minière axée sur l’acquisition, l’exploration et la mise en valeur de propriétés de ressources de métaux précieux au Canada. Oban détient 100 % du gîte aurifère à haute teneur du Lac Windfall, situé entre les villes de Val-d’Or et Chibougamau au Québec, ainsi qu’une participation indivise de 100 % dans un important groupe de claims dans le secteur avoisinant d’Urban-Barry (82 400 hectares), en plus d’une participation de 100 % dans le projet Marban, situé au cœur du prolifique district minier aurifère de l’Abitibi au Québec. Oban détient aussi des propriétés dans le district minier de Larder Lake, dans le nord-est de l’Ontario, qui couvrent notamment les gîtes Jonpol et Garrcon sur la propriété Garrison, l’ancienne mine Buffonta et la propriété minière Gold Pike. La Société détient aussi des participations et des options visant plusieurs autres propriétés dans le nord de l’Ontario. Oban est bien financée puisqu’elle dispose d’environ 74 millions de dollars en trésorerie, en équivalents de trésorerie et en titres négociables.

Mise en garde à l’égard des renseignements prospectifs

Le présent communiqué contient des « renseignements prospectifs » au sens attribué à ce terme par les lois canadiennes applicables sur les valeurs mobilières, qui sont basés sur les attentes, les estimations et les projections en date du présent communiqué. Les renseignements dans le présent communiqué portant sur les résultats de forage à venir, le programme de forage en cours, la minéralisation potentielle, la capacité de mettre en valeur toute minéralisation d’une façon économique, la capacité de réaliser toute activité d’exploration proposée et les résultats de ces activités, la continuité ou l’extension de toute minéralisation, ainsi que tout autre renseignement dans les présentes qui n’est pas un fait historique, pourraient constituer des « renseignements prospectifs ». Tout énoncé qui implique des discussions à l’égard de prévisions, d’attentes, d’opinions, de plans, de projections, d’objectifs, d’hypothèses, d’événements ou de rendements futurs (utilisant souvent, mais pas forcément, des expressions comme « s’attend » ou « ne s’attend pas », « est prévu », « anticipe » ou « n’anticipe pas », « planifie », « budget », « échéancier », « prévisions », « estime », « est d’avis », « a l’intention », ou des variations de ces expressions ou des énoncés indiquant que certaines actions, certains événements ou certains résultats « pourraient » ou « devraient » se produire, « se produiront » ou « seront atteints ») n’est pas un énoncé de faits historiques et pourrait constituer des renseignements prospectifs et a pour but d’identifier des renseignements prospectifs. Ces renseignements prospectifs reposent sur des hypothèses raisonnables et des estimations faites par la direction d’Oban au moment où elles ont été formulées, impliquent des risques connus et inconnus, des incertitudes et d’autres facteurs qui pourraient faire en sorte que les résultats réels, le rendement ou les réalisations d’Oban soient sensiblement différents des résultats, du rendement ou des réalisations futurs explicitement ou implicitement indiqués par de tels renseignements prospectifs. Ces facteurs comprennent notamment les risques se rapportant à la participation de la Société dans des propriétés ; la capacité d’Oban de réaliser d’autres activités d’exploration incluant du forage ; les résultats des activités d’exploration ; les risques liés aux activités minières ; la conjoncture économique mondiale ; les prix des métaux ; la dilution ; les risques environnementaux ; et les actions communautaires et non gouvernementales. Bien que les renseignements prospectifs contenus dans le présent communiqué soient basés sur des hypothèses considérées raisonnables de l’avis de la direction au moment de leur publication, Oban ne peut garantir aux actionnaires et aux acheteurs éventuels que les résultats réels seront conformes aux renseignements prospectifs, puisqu’il pourrait y avoir d’autres facteurs qui auraient pour effet que les résultats ne soient pas tels qu’anticipés, estimés ou prévus, et ni Oban ni aucune autre personne n’assume la responsabilité pour la précision ou le caractère exhaustif des renseignements prospectifs. Oban n’entreprend et n’assume aucune obligation d’actualiser ou de réviser tout énoncé prospectif ou tout renseignement prospectif contenu dans les présentes en vue de refléter de nouveaux événements ou de nouvelles circonstances, sauf si requis par la loi.

Pour plus d’information, veuillez communiquer avec :

John Burzynski
Président et chef de la direction
Téléphone : 416 363-8653