OSISKO EXPANSION DRILLING RETURNS HIGH GRADE AT LYNX

34.8 g/t Au over 10.4 Metres

26.1 g/t Au Over 5.3 Metres

(Toronto, July 16, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new drilling results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Twenty-two drills are active at Windfall (including 16 on surface and six underground), all currently focused on the Lynx deposit.

Osisko President and Chief Executive Officer John Burzynski commented: “The Lynx system remains open both towards surface and down plunge, and we expect to see additions to the Lynx resource by the end of the year.  Clearly the highest-grade portion of our Windfall deposit, Lynx continues to impress and provide good upside to the scale of our growing resource.  Lynx gave important additions to our February 2020 resource update (see Osisko news release dated February 19, 2020), and we expect to see that pattern continue.”

Significant new analytical results are presented below and include 59 intercepts in 15 drill holes, 22 wedges and 3 extensions of previously drilled holes.  All intercepts reported below are located outside the February 2020 mineral resource estimate wireframes and represent expansions of known mineralized zones.

Selected high-grade intercepts from the new results include: OSK-W-20-2266-W1, 30 metres up-plunge from wireframe Lynx_363, returned 34.8 g/t Au over 10.4 metres; OSK-W-20-2268, 70 metres up-plunge from wireframe Lynx_361, returned 26.1 g/t Au over 5.3 metres; OSK-W-20-2100-W6, 15 metres vertically towards surface from wireframe Lynx_371, returned 59.7 g/t Au over 2.2 metres; and OSK-W-20-2250-W1, 48 metres up-plunge from wireframe Lynx_372, returned 42.6 g/t Au over 2.2 metres. 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 Zone Corridor
OSK-W-18-1639 1078.9 1081.0 2.1 7.49   Lynx_327 Lynx
OSK-W-18-1731-W1 581.0 583.0 2.0 9.27   Lynx_322 Lynx
including 581.6 582.0 0.4 33.8
OSK-W-18-1741-W1 693.8 696.1 2.3 4.05   Lynx_336 Lynx
OSK-W-19-1166-W5 670.0 672.0 2.0 6.58 Lynx Lynx
  679.9 683.0 3.1 10.3 Lynx Lynx
OSK-W-19-1949-W3 642.2 644.6 2.4 4.38   Lynx_341 Lynx
OSK-W-19-2100-W2 1066.5 1068.5 2.0 35.7 26 Triple Lynx Triple Lynx
including 1067.3 1067.8 0.5 139 100
OSK-W-19-2101 787.0 789.0 2.0 3.84   Lynx_361 Triple Lynx
OSK-W-19-2139-W1 867.0 872.0 5.0 3.07   Triple Lynx Triple Lynx
OSK-W-19-2194 778.7 786.2 7.5 5.36   Triple Lynx Triple Lynx
  992.3 994.5 2.2 11.7   Lynx_350 Lynx
including 993.6 994.5 0.9 25.2
OSK-W-20-2059-W2 806.0 808.0 2.0 7.15   Lynx_333 Lynx
OSK-W-20-2059-W3 805.0 807.2 2.2 10.1   Lynx_330 Lynx
including 806.7 807.2 0.5 43.5
OSK-W-20-2100-W6 896.8 899.0 2.2 59.7 19 Lynx_371 Triple Lynx
including 896.8 897.2 0.4 324 100
OSK-W-20-2100-W7 888.4 890.5 2.1 22.7   Lynx_371 Triple Lynx
including 889.3 890.0 0.7 61.2
OSK-W-20-2139-W5 1006.0 1008.5 2.5 4.82   Triple Lynx Triple Lynx
OSK-W-20-2170-W5 1021.3 1023.7 2.4 9.55   Triple Lynx Triple Lynx
  1047.0 1049.4 2.4 9.54   Lynx_364 Triple Lynx
including 1047.0 1047.5 0.5 38.0
OSK-W-20-2202-W2 848.1 850.2 2.1 12.0   Lynx_367 Triple Lynx
including 849.9 850.2 0.3 49.4
  874.8 877.0 2.2 7.36   Triple Lynx Triple Lynx
OSK-W-20-2217-W1 753.8 759.2 5.4 3.04   Triple Lynx Triple Lynx
  948.0 950.0 2.0 4.36   Triple Lynx Triple Lynx
OSK-W-20-2217-W2 795.7 797.7 2.0 6.84   Triple Lynx Triple Lynx
  806.0 808.0 2.0 4.42   Triple Lynx Triple Lynx
OSK-W-20-2217-W3 760.4 764.0 3.6 21.8   Triple Lynx Triple Lynx
  910.0 912.0 2.0 19.7   Triple Lynx Triple Lynx
OSK-W-20-2243-W1 795.0 797.1 2.1 6.82   Lynx_363 Triple Lynx
including 795.3 796.1 0.8 15.9
  804.0 806.0 2.0 3.05   Lynx_363 Triple Lynx
820.8 824.3 3.5 15.4   Triple Lynx Triple Lynx
  923.0 927.0 4.0 5.34   Triple Lynx Triple Lynx
OSK-W-20-2243-W2 962.0 964.0 2.0 17.7   Triple Lynx Triple Lynx
OSK-W-20-2243-W3 782.9 791.0 8.1 10.8   Lynx_361 Triple Lynx
including 783.9 784.5 0.6 24.6
OSK-W-20-2250-W1 719.9 722.4 2.5 27.1   Triple Lynx Triple Lynx
including 720.9 721.8 0.9 47.0
  732.8 735.0 2.2 3.53   Triple Lynx Triple Lynx
  752.0 757.6 5.6 4.07   Triple Lynx Triple Lynx
  930.4 932.6 2.2 42.6 28 Lynx_372 Triple Lynx
including 930.4 931.0 0.6 154 100
OSK-W-20-2250-W2 787.0 792.0 5.0 11.1   Lynx_364 Triple Lynx
including 790.0 790.4 0.4 67.5
OSK-W-20-2253 833.8 835.9 2.1 3.33 Lynx Triple Lynx
OSK-W-20-2260 834.5 836.6 2.1 20.2   Lynx_361 Triple Lynx
including 834.8 835.2 0.4 93.4
OSK-W-20-2263 384.4 386.7 2.3 3.42   Lynx_311 Lynx
  522.3 524.3 2.0 29.4   Lynx_356 Lynx
including 522.9 523.4 0.5 68.9
  593.0 595.0 2.0 4.33 Lynx Triple Lynx
OSK-W-20-2266 731.8 734.0 2.2 10.3   Triple Lynx Triple Lynx
  752.0 755.0 3.0 10.8   Lynx_363 Triple Lynx
including 753.4 753.8 0.4 21.2
OSK-W-20-2266-W1 719.2 721.3 2.1 3.36   Triple Lynx Triple Lynx
  737.3 747.7 10.4 34.8 18.5 Lynx_363 Triple Lynx
including 742.4 743.0 0.6 373 100
and 746.4 746.7 0.3 119 100
OSK-W-20-2268 711.2 716.5 5.3 26.1 25.9 Lynx_361 Triple Lynx
including 711.7 712.2 0.5 102 100
and 713.0 713.8 0.8 49.3
OSK-W-20-2269 580.1 582.5 2.4 15.5 Lynx Lynx
WST-20-0286 80.0 82.0 2.0 6.52   Lynx_308 Lynx
including 80.0 81.0 1.0 12.8
WST-20-0376 129.9 132.0 2.1 37.3   Lynx_359 Lynx
including 129.9 130.2 0.3 93.8
WST-20-0377 137.5 141.0 3.5 28.7 21.6 Lynx_359 Lynx
including 138.0 138.3 0.3 79.1
and 138.6 139.0 0.4 163 100
WST-20-0416 326.4 329.6 3.2 27.6 Lynx Lynx
  336.0 338.1 2.1 4.13 Lynx Lynx
  695.2 697.2 2.0 9.85   Lynx_327 Lynx
including 695.8 696.3 0.5 18.7
and 696.3 696.6 0.3 27.4
  710.1 712.5 2.4 4.01   Lynx_327 Lynx
including 710.1 710.7 0.6 16.0
WST-20-0417 84.0 86.2 2.2 13.1   Lynx_307 Lynx
including 85.0 85.7 0.7 38.6
  316.0 318.2 2.2 17.6   Lynx Lynx
WST-20-0418 271.1 273.1 2.0 23.8   Lynx Lynx
  440.9 443.2 2.3 6.59   Lynx Lynx
WST-20-0437 113.0 115.3 2.3 3.51   Lynx_304 Lynx
including 113.0 113.3 0.3 14.8
WST-20-0443 107.0 109.0 2.0 7.56   Lynx_304 Lynx
WST-20-0459 327.2 330.0 2.8 23.2 Lynx Lynx

 

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-18-1639 142 -53 1164 453266 5435397 405 3625
OSK-W-18-1731-W1 139 -51 995 453383 5435518 409 3800
OSK-W-18-1741-W1 144 -48 1083 453328 5435466 406 3725
OSK-W-19-1166-W5 132 -59 1155 453621 5435638 405 4050
OSK-W-19-1949-W3 105 -57 1326 453440 5435479 401 3825
OSK-W-19-2100-W2 122 -47 1134 453095 5435726 423 3650
OSK-W-19-2101 18 -68 909 453426 5434779 396 3475
OSK-W-19-2139-W1 115 -52 1152 452980 5435549 420 3450
OSK-W-19-2194 135 -51 1122 453215 5435512 410 3650
OSK-W-20-2059-W2 131 -52 933 453446 5435477 400 3825
OSK-W-20-2059-W3 131 -52 1029 453446 5435477 400 3825
OSK-W-20-2100-W6 122 -47 1260 453095 5435726 423 3650
OSK-W-20-2100-W7 122 -47 1122 453095 5435726 423 3650
OSK-W-20-2139-W5 115 -52 1146 452980 5435549 420 3450
OSK-W-20-2170-W5 128 -59 1148 453425 5435657 413 3900
OSK-W-20-2202-W2 127 -54 1146 452997 5435606 424 3500
OSK-W-20-2217-W1 134 -48 1044 452943 5435566 419 3425
OSK-W-20-2217-W2 134 -48 893 452943 5435566 419 3425
OSK-W-20-2217-W3 134 -48 1128 452943 5435566 419 3425
OSK-W-20-2243-W1 122 -54 960 453087 5435527 418 3550
OSK-W-20-2243-W2 122 -54 972 453087 5435527 418 3550
OSK-W-20-2243-W3 122 -54 1062 453087 5435527 418 3550
OSK-W-20-2250-W1 132 -57 1060 453128 5435505 420 3575
OSK-W-20-2250-W2 132 -57 1080 453128 5435505 420 3575
OSK-W-20-2253 128 -54 924 452831 5435326 413 3225
OSK-W-20-2260 126 -48 1038 453199 5435669 413 3700
OSK-W-20-2263 128 -49 1029 452926 5435187 413 3225
OSK-W-20-2266 128 -55 1050 453069 5435476 418 3500
OSK-W-20-2266-W1 128 -55 1116 453069 5435476 418 3500
OSK-W-20-2268 127 -55 452 453148 5435489 418 3575
OSK-W-20-2269 133 -50 933 452972 5435211 416 3275
WST-20-0286 153 16 85 453228 5435126 136 3475
WST-20-0376 161 -39 166 453493 5435286 116 3775
WST-20-0377 161 -42 175 453493 5435286 116 3775
WST-20-0416 138 -52 801 453228 5435126 135 3475
WST-20-0417 138 -50 759 453228 5435126 134 3475
WST-20-0418 140 -49 744 453229 5435127 134 3475
WST-20-0437 152 -12 142 453450 5435265 116 3725
WST-20-0443 136 -19 219 453494 5435287 117 3775
WST-20-0459 153 -47 579 453228 5435126 134 3475

Lynx Zone

Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.

 

Triple Lynx Zone

Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

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 estimated at 55-80% 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 Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 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% interest in the high-grade Windfall 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 Quévillon area (over 2,700 square kilometres).

 

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. Any statement that involves 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”, “potential”, “feasibility”, “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 news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. 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 and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; 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.

 

CONTACT INFORMATION:

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

OSISKO INFILL DRILLING CONTINUES TO CONFIRM HIGH GRADE AT LYNX

119 g/t Au Over 5.0 Metres

31 g/t Au Over 6.2 Metres

(Toronto, July 14, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new drilling results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Twenty-two drills are active at Windfall (including 16 on surface and six underground), all currently focused on the Lynx deposit.

Osisko President and Chief Executive Officer John Burzynski commented: “Drilling at Windfall has returned to full capacity, and the Lynx system continues to deliver strong results. Each new set of infill drilling is confirming our confidence in our model, and moves us closer to the necessary spacing we require for the indicated resource we will use in our feasibility study next year.  Lynx is eclipsing the original Windfall deposit we acquired in 2015, and continues to give us very pleasant surprises as we drill out the system.”

Significant new analytical results from 40 intercepts in 16 drill holes and 5 wedges are presented below.

Selected high-grade intercepts from the new results include: 199 g/t Au over 5.0 metres in WST-20-0312; 103 g/t Au over 2.7 metres in WST-20-0313; 31.0 g/t Au over 6.2 metres in OSK-W-2243-W2; and 49.0 g/t Au over 2.4 metres  in WST-20-0417.  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 Zone Corridor
OSK-W-19-2221 607.0 609.0 2.0 4.93   Lynx_315 Lynx
including 608.3 609.0 0.7 11.7  
OSK-W-20-1272-W6 775.0 782.6 7.6 4.53   Lynx_371 Triple Lynx
  958.0 960.0 2.0 7.14   Lynx_369 Triple Lynx
  983.0 985.0 2.0 5.88   Lynx_370 Triple Lynx
OSK-W-20-1733-W1 869.7 873.9 4.2 4.11   Lynx_330 Lynx
including 869.7 870.0 0.3 11.0  
and 873.2 873.9 0.7 17.5  
OSK-W-20-1857-W12 1453.0 1455.5 2.5 10.2   Lynx_349 Lynx
  1457.5 1460.0 2.5 3.10   Lynx_349 Lynx
including 1457.5 1458.2 0.7 9.81  
OSK-W-20-2139-W6 939.0 941.3 2.3 23.1   Lynx_369 Triple Lynx
including 939.8 940.8 1.0 48.3  
OSK-W-20-2243-W2 789.0 795.2 6.2 31.0 16.5 Lynx_361 Triple Lynx
including 792.2 792.5 0.3 399 100
  804.5 807.0 2.5 10.9   Lynx_361 Triple Lynx
including 805.4 805.7 0.3 49.3  
  819.8 822.0 2.2 3.80   Lynx_363 Triple Lynx
including 819.8 820.1 0.3 11.6  
OSK-W-20-2269 368.9 371.0 2.1 3.85   Lynx_311 Lynx
WST-20-0312 59.0 61.6 2.6 63.1 44.6 Lynx_311 Lynx
including 59.7 60.8 1.1 144 100
  75.0 77.0 2.0 18.4   Lynx_308 Lynx
including 76.0 77.0 1.0 30.3  
  79.0 81.6 2.6 32.5 28.3 Lynx_310 Lynx
including 80.4 80.9 0.5 122 100
  85.0 87.0 2.0 23.9   Lynx_320 Lynx
  105.0 110.0 5.0 199 41.0 Lynx_304 Lynx
including 107.2 108.0 0.8 1085 100
WST-20-0313 57.0 59.0 2.0 6.86   Lynx_311 Lynx
  62.0 64.0 2.0 5.98   Lynx_311 Lynx
including 62.0 62.7 0.7 17.0  
  99.9 102.6 2.7 103 41.3 Lynx_304 Lynx
including 99.9 100.7 0.8 308 100
WST-20-0315 54.0 56.0 2.0 4.13   Lynx_311 Lynx
  60.5 62.7 2.2 31.6 31.2 Lynx_323 Lynx
including 61.3 61.9 0.6 102 100
WST-20-0415 80.0 82.0 2.0 9.34   Lynx_308 Lynx
including 80.0 81.0 1.0 14.0  
  85.0 87.0 2.0 3.83   Lynx_308 Lynx
WST-20-0417 480.8 483.2 2.4 49.0 44.0 Lynx_350 Lynx
including 481.3 482.2 0.9 114 100
  487.8 490.0 2.2 4.34   Lynx_350 Lynx
  687.0 689.1 2.1 3.28   Lynx_312 Lynx
including 687.3 687.8 0.5 11.7  
WST-20-0431 149.8 152.0 2.2 3.36   Lynx_304 Lynx
including 150.5 151.1 0.6 11.2  
WST-20-0433A 65.5 68.9 3.4 4.49   Lynx_311 Lynx
including 68.1 68.4 0.3 16.0  
WST-20-0434 125.0 127.5 2.5 5.14   Lynx_359 Lynx
including 126.5 126.8 0.3 28.5  
WST-20-0435 124.5 126.8 2.3 11.9   Lynx_359 Lynx
including 125.7 126.0 0.3 24.4  
WST-20-0436 117.1 119.2 2.1 7.89   Lynx_304 Lynx
including 117.5 117.8 0.3 33.5  
  122.5 125.3 2.8 12.9   Lynx_359 Lynx
including 124.9 125.3 0.4 36.0  
WST-20-0438 70.9 73.0 2.1 3.27   Lynx_311 Lynx
including 72.6 73.0 0.4 17.0  
  132.2 134.5 2.3 3.98   Lynx_359 Lynx
WST-20-0439 92.2 94.2 2.0 16.2   Lynx_323 Lynx
including 92.2 93.1 0.9 35.8  
  113.4 115.5 2.1 20.4   Lynx_304 Lynx
including 113.4 113.8 0.4 98.5  
WST-20-0442 132.0 134.0 2.0 4.19   Lynx_304 Lynx
  234.1 236.5 2.4 3.88   Lynx_301 Lynx
including 234.1 234.5 0.4 15.7  
WST-20-0445 216.1 218.1 2.0 7.63   Lynx_315 Lynx

 

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-19-2221 134 -49 789 453422 5435465 401 3800
OSK-W-20-1272-W6 127 -60 1035 453246 5435535 412 3675
OSK-W-20-1733-W1 138 -51 1206 453329 5435466 406 3725
OSK-W-20-1857-W12 108 -58 1554 453525 5435704 405 4000
OSK-W-20-2139-W6 115 -52 1089 452980 5435549 420 3450
OSK-W-20-2243-W2 122 -54 972 453087 5435527 418 3550
OSK-W-20-2269 133 -50 933 452972 5435211 416 3275
WST-20-0312 146 12 124 453292 5435139 164 3525
WST-20-0313 148 -28 133 453292 5435139 163 3525
WST-20-0315 142 -14 121 453292 5435139 163 3525
WST-20-0415 117 -7 131 453293 5435141 163 3525
WST-20-0417 138 -50 759 453228 5435126 134 3475
WST-20-0431 132 -44 244 453494 5435287 116 3775
WST-20-0433A 155 -32 157 453450 5435264 115 3725
WST-20-0434 156 -28 154 453450 5435264 115 3725
WST-20-0435 144 -27 277 453450 5435264 115 3725
WST-20-0436 143 -31 160 453450 5435265 117 3725
WST-20-0438 163 -16 145 453450 5435264 116 3725
WST-20-0439 142 -14 217 453450 5435265 116 3725
WST-20-0442 134 -32 265 453494 5435287 116 3775
WST-20-0445 143 -26 242 453494 5435287 117 3775

 

Lynx Zone

Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.

 

Triple Lynx Zone

Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

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 estimated at 55-80% 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 Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 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% interest in the high-grade Windfall 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 Quévillon area (over 2,700 square kilometres).

 

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. Any statement that involves 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”, “potential”, “feasibility”, “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 news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. 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 and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; 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.

 

CONTACT INFORMATION:

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

OSISKO MINING CLOSES C$177 MILLION “BOUGHT DEAL” PRIVATE PLACEMENT OF UNITS, INCLUDING FULL EXERCISE OF THE UNDERWRITERS’ OPTION

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

(Toronto, June 23, 2020) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce the completion of its previously-announced “bought deal” brokered private placement of an aggregate of 48,500,000 units of the Corporation (the “Units”) at a price of C$3.65 per Unit for aggregate gross proceeds of approximately C$177 million, including the exercise in full of the underwriters’ option (the “Offering”).

Each Unit consists of one common share of the Corporation and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles the holder to acquire one common share of the Corporation for 18 months from the closing of the Offering at a price of C$5.25, subject to adjustment in certain circumstances.

The net proceeds received from the Offering will be used to advance the Corporation’s Windfall Project as well as for working capital and general corporate purposes.

The Offering was led by Canaccord Genuity Corp. and Eight Capital, as co-lead underwriters, on behalf of a syndicate of underwriters that included BMO Capital Markets, National Bank Financial Inc., CIBC Capital Markets, Beacon Securities Limited, Echelon Wealth Partners Inc., Haywood Securities Inc. and Industrial Alliance Securities Inc. (collectively, the “Underwriters”). In consideration for their services, the Corporation paid the Underwriters a cash commission equal to 5.0% of the gross proceeds of the Offering, excluding certain President’s List subscribers.

All securities issued under the Offering will be subject to a hold period expiring four months and one day from the date hereof. The Offering is subject to final acceptance of the Toronto Stock Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

The following “insiders” of the Corporation have subscribed for Units under the Offering:

 

Insider Insider Relationship Units Purchased

(#)

Subscription Amount

($)

Robert Wares Director of Osisko Mining 125,000 $456,250
José Vizquerra Benavides Director of Osisko Mining 54,000 $197,100
Cathy Singer Director of Osisko Mining 6,800 $24,820
Andree St-Germain Director of Osisko Mining 5,400 $19,710
Keith McKay Director of Osisko Mining 5,000 $18,250
Lili Mance Senior Officer of Osisko Mining 8,200 $29,930
Blair Zaritsky Senior Officer of Osisko Mining 15,000 $54,750
Donald Njegovan Senior Officer of Osisko Mining 13,700 $50,005
Osisko Gold Royalties 10% securityholder of Osisko Mining 4,054,000 $14,797,100
Murray John Director of Osisko Gold Royalties (a 10% securityholder of Osisko Mining) 27,400 $100,010
  Totals 4,314,500 $15,747,925

 

Each subscription by an “insider” is considered to be a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Corporation did not file a material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by each “related party” of the Corporation were not settled until shortly prior to the closing of the Offering, and the Corporation wished to close the Offering on an expedited basis for sound business reasons. The Corporation is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Corporation is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Corporation’s market capitalization. Additionally, the Corporation is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Corporation’s market capitalization.

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 the Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

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 the use of proceeds of the Offering, the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the Toronto Stock Exchange 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 terms and duration of any government orders suspending or limiting operations that are applicable to Osisko; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses; 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

 

OSISKO INFILL DRILLING CONTINUES TO CONFIRM HIGH GRADE AT LYNX

Including 376 g/t Au Over 2.0 Metres

And 35.2 g/t Au Over 4.3 Metres

(Toronto, June 23, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new drilling results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit, the main mineralized zones, and down plunge exploration in the central areas of the mineralized system.  Windfall camp is expected to return to full capacity with 21 drill rigs by the end of this week.

Osisko President and Chief Executive Officer John Burzynski commented: “Todays infill results continue to demonstrate the continuity of the high-grade values in Lynx and Triple Lynx, as we continue to intersect the zones where anticipated. The drill program remains focused on defining the Lynx deposit as well as targeting key areas up plunge and down plunge for growth potential.  We are also having good success in step-out drilling which will add to the scale of the deposit.”

Significant new analytical results from 33 intercepts in 18 drill holes and 7 wedges are presented below.

Selected high-grade intercepts from the new results include: 376 g/t Au over 2.0 metres in WST-20-0310; 23.8 g/t Au over 6.2 metres in OSK-W-19-2100-W5; 35.2 g/t Au over 4.3 metres in WST-20-0380; and 27.0 g/t Au over 4.5 metres in OSK-W-20-2250.  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 Zone Corridor
OSK-W-19-1731-W4 534.7 539.6 4.9 7.76   Lynx_304 Lynx
including 534.7 535.2 0.5 36.5
and 538.9 539.6 0.7 17.6
OSK-W-19-2100-W5 962.0 968.2 6.2 23.8 20.3 Lynx_361 Triple Lynx
including 966.2 966.8 0.6 136 100
OSK-W-19-2204 69.4 71.5 2.1 4.85   Lynx_304 Lynx
including 70.8 71.5 0.7 14.2
OSK-W-20-1104-W7 470.0 472.0 2.0 7.98   Lynx_359 Lynx
including 470.7 471.2 0.5 29.4
OSK-W-20-2139-W7 867.0 869.0 2.0 4.41   Lynx_361 Triple Lynx
including 867.8 868.2 0.4 12.5
872.0 874.8 2.8 3.09   Lynx_361 Triple Lynx
894.0 896.6 2.6 3.01 Lynx_363 Triple Lynx
including 895.0 895.3 0.3 24.5
899.4 901.7 2.3 3.06 Lynx_363 Triple Lynx
OSK-W-20-2243-W1 828.1 833.3 5.2 5.43   Lynx_364 Triple Lynx
including 828.1 828.4 0.3 40.6
OSK-W-20-2243-W2 828.0 834.0 6.0 2.99   Lynx_363 Triple Lynx
OSK-W-20-2245 109.5 111.5 2.0 15.2   Lynx_311 Lynx
including 110.6 110.9 0.3 91.6
OSK-W-20-2250 799.5 804.0 4.5 27.0 14.7 Lynx_364 Triple Lynx
including 799.5 799.8 0.3 134 100
and 801.5 801.8 0.3 251 100
807.0 809.0 2.0 5.87 Lynx_364 Triple Lynx
OSK-W-20-2250-W1 767.0 769.0 2.0 5.65   Lynx_363 Triple Lynx
OSK-W-20-2252 871.1 873.6 2.5 3.21   Lynx_371 Triple Lynx
including 871.1 872.0 0.9 7.51
875.3 877.7 2.4 4.09   Lynx_371 Triple Lynx
including 876.3 877.0 0.7 10.6
WST-20-0309 58.0 60.5 2.5 14.0   Lynx_311 Lynx
including 58.5 59.5 1.0 34.8
WST-20-0310 63.7 65.7 2.0 376 34.4 Lynx_311 Lynx
including 63.7 64.2 0.5 1465 100
WST-20-0311 54.0 56.1 2.1 5.75   Lynx_311 Lynx
57.9 60.3 2.4 9.84   Lynx_311 Lynx
including 59.8 60.3 0.5 35.8
WST-20-0317 57.8 60.0 2.2 3.47   Lynx_311 Lynx
including 58.7 59.2 0.5 14.2
  64.4 66.4 2.0 13.7   Lynx_323 Lynx
including 65.4 66.4 1.0 26.8
WST-20-0319 58.7 62.3 3.6 23.6 21.1 Lynx_323 Lynx
including 60.5 60.9 0.4 122 100
and 61.9 62.3 0.4 80.5
WST-20-0320 73.0 75.6 2.6 15.5   Lynx_323 Lynx
including 74.9 75.6 0.7 44.5
WST-20-0380 52.9 57.2 4.3 35.2 30.4 Lynx_311 Lynx
including 56.2 57.2 1.0 121 100
WST-20-0384 125.0 127.0 2.0 25.5   Lynx_304 Lynx
including 125.0 125.4 0.4 62.8
and 126.5 127.0 0.5 50.0
WST-20-0417 65.0 67.5 2.5 4.81   Lynx_339 Lynx
WST-20-0428 130.5 132.8 2.3 3.40   Lynx_304 Lynx
including 131.5 132.2 0.7 9.97
WST-20-0430 124.7 127.0 2.3 15.7   Lynx_359 Lynx
including 125.1 125.5 0.4 88.8
WST-20-0432 126.0 128.0 2.0 9.25 Lynx_359 Lynx
including 126.0 126.4 0.4 43.7
WST-20-0433A 117.0 119.1 2.1 7.84   Lynx_304 Lynx
including 117.6 117.9 0.3 36.1
122.0 124.0 2.0 10.9   Lynx_359 Lynx
including 122.9 123.4 0.5 39.1
WST-20-0434 114.0 116.6 2.6 8.28   Lynx_304 Lynx
including 114.0 114.6 0.6 32.1

 

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.

 

Drill hole location

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-19-1731-W4 139 -51 975 453383 5435518 409 3800
OSK-W-19-2100-W5 122 -47 1134 453095 5435726 423 3650
OSK-W-19-2204 326 -46 143 453254 5434979 398 3425
OSK-W-20-1104-W7 142 -50 867 453383 5435455 402 3775
OSK-W-20-2139-W7 115 -52 1164 452980 5435549 420 3450
OSK-W-20-2243-W1 122 -54 960 453087 5435527 418 3550
OSK-W-20-2243-W2 122 -54 972 453087 5435527 418 3550
OSK-W-20-2245 321 -49 153 453236 5434971 398 3400
OSK-W-20-2250 132 -57 1064 453128 5435505 420 3575
OSK-W-20-2250-W1 132 -57 1060 453128 5435505 420 3575
OSK-W-20-2252 129 -54 1194 453241 5435694 415 3750
WST-20-0309 172 -23 166 453292 5435139 163 3525
WST-20-0310 169 -33 97 453292 5435139 163 3525
WST-20-0311 152 -15 97 453292 5435140 163 3525
WST-20-0317 131 -23 127 453292 5435140 163 3525
WST-20-0319 134 -3 118 453293 5435140 163 3525
WST-20-0320 128 -16 124 453293 5435140 163 3525
WST-20-0380 159 11 85 453228 5435126 136 3475
WST-20-0384 160 -35 157 453493 5435286 116 3775
WST-20-0417 138 -50 759 453228 5435126 134 3475
WST-20-0428 143 -37 232 453493 5435287 116 3775
WST-20-0430 160 -29 148 453493 5435287 117 3775
WST-20-0432 149 -32 157 453450 5435264 115 3725
WST-20-0433A 155 -32 157 453450 5435264 115 3725
WST-20-0434 156 -28 154 453450 5435264 115 3725

 

Lynx Zone

Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.

 

Triple Lynx Zone

Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

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 estimated at 55-80% 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 Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 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% interest in the high-grade Windfall 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 Quévillon area (over 2,700 square kilometres).

 

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. Any statement that involves 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”, “potential”, “feasibility”, “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 news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. 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 and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; 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.

 

CONTACT INFORMATION:

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

OSISKO RELEASES 2019 SUSTAINABLE DEVELOPMENT REPORT

(Toronto, June 18, 2020) Osisko Mining Inc. (OSK:TSX “Osisko” or the “Corporation”), is pleased to announce that it has published its 2019 Sustainable Development report which provides a detailed overview of the Company’s environmental, social, and governance (ESG) performance and economic contributions to the communities in which we operate. The report is available on the Osisko website www.osiskomining.com in English and French.

Osisko Mining believes that being a good corporate citizen involves delivering environmental stewardship, protecting the health and well-being of our workforce and our neighbours, engaging with stakeholders and being an economic stimulus for our host communities.

Our focus is to deliver lasting value to our stakeholders, our host communities and our employees. As reflected in our core values, a sustainable business must be ethical, creative and efficient, as well as respectful, engaged and inclusive. By understanding and listening to our stakeholders, we look for innovative ways to address both societal and economic expectations.

 

We have anchored sustainability in our business strategy through our policies. We monitor our performance in the pillars of society, health and safety, environment and economy, and align our strategies to meet new challenges.

The report covers Osisko Mining Inc. activities on our Windfall, Quévillon, Osborne-Bell and Urban Barry projects. It describes our ESG performance from January 1 to December 31, 2019 and gives comparative data from previous years.

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 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 Quévillon area (over 2,700 square kilometres).

CONTACT INFORMATION:

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

OSISKO MINING ANNOUNCES C$150 MILLION “BOUGHT DEAL” PRIVATE PLACEMENT OF UNITS

(Toronto, June 1, 2020) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Eight Capital to act as co-lead underwriters (the “Co-Lead Underwriters”), on behalf of a syndicate of underwriters (collectively with the Co-Lead Underwriters, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought-deal private placement basis, 41,100,000 units of the Corporation (the “Units”) at a price of C$3.65 per Unit (the “Offering Price”) for gross proceeds of C$150,015,000 (the “Underwritten Offering”).

Each Unit will consist of one common share of the Corporation (a “Unit Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one common share of the Corporation for 18 months from the closing of the Offering at a price of C$5.25.

The Corporation shall grant the Underwriters an option to purchase up to an additional 7,400,000 Units at the Offering Price for additional gross proceeds of up to C$27,010,000 (the “Underwriter Option”) exercisable at any time up to 48 hours prior to the closing of the Offering.

The net proceeds received from the Offering will be used to advance the Corporation’s projects in Québec, as well as for working capital and general corporate purposes.

It is anticipated that closing of the Offering will occur on or about June 23, 2020 or such other date or dates as the Corporation and the Underwriters may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the Toronto Stock Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from the applicable closing date in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

 

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 the Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

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 closing of the Offering, use of proceeds of the Offering, the exercise of the Over-Allotment Option, and the approval of the TSX relating to the Offering; 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 terms and duration of any government orders suspending or limiting operations that are applicable to Osisko; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses; 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

Annual Meeting of Shareholders Report of Voting Results

ANNUAL MEETING OF SHAREHOLDERS
of
OSISKO MINING INC. (the “Corporation”)

May 29, 2020

REPORT OF VOTING RESULTS

National Instrument 51-102 – Continuous Disclosure Obligations

MATTERS VOTED UPON
    Votes By Ballot:
  Outcome of Vote Votes For Votes Withheld
1. The appointment of PricewaterhouseCoopers LLP, as auditor of the Corporation for the ensuing year and authorizing the directors to fix their remuneration Carried 214,873,544 (99.71%) 630,899 (0.29%)
  Votes By Ballot:
Outcome of Vote Votes For Votes Withheld
2. The election of the following nominees as directors of the Corporation for the ensuing year or until their successors are duly elected or appointed:
John Burzynski Elected 200,179,929 (99.42%) 1,168,184 (0.58%)
José Vizquerra Benavides Elected 198,066,705 (98.37%) 3,281,408 (1.63%)
Sean Roosen Elected 198,269,197 (98.47%) 3,078,916 (1.53%)
Patrick F.N. Anderson Elected 199,211,221 (98.94%) 2,136,892 (1.06%)
Keith McKay Elected 199,187,777 (98.93%) 2,160,336 (1.07%)
Amy Satov Elected 199,491,686 (99.08%) 1,856,427 (0.92%)
Bernardo Alvarez Calderon Elected 199,486,523 (99.08%) 1,861,590 (0.93%)
Robert Wares Elected     198,247,951 (98.46%) 3,100,162 (1.54%)
Andrée St-Germain Elected     199,095,196 (98.88%) 2,252,917 (1.12%)
Cathy Singer Elected     199,948,356 (99.31%) 1,399,757 (0.70%)

 

OSISKO MINING ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

Toronto, Ontario (May 29, 2020) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation“) is pleased to announce the results of its annual meeting of shareholders (the “Meeting“) held earlier today.

A total of 215,532,162 common shares of the Corporation were represented at the Meeting, representing approximately 74.05% of the total number of common shares of the Corporation issued and outstanding.

All matters presented for approval at the Meeting were duly authorized and approved, as follows:

  • election of all ten management nominees to the board of directors of the Corporation; and
  • appointment of PricewaterhouseCoopers LLP as auditors of the Corporation for the ensuing year and authorization of the directors to fix their remuneration.

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

 

Name Voted For
(#)
Voted For
(%)
Voted Withhold
(#)
Voted Withhold
(%)
John Burzynski 200,179,929 99.42% 1,168,184 0.58%
José Vizquerra Benavides 198,066,705 98.37% 3,281,408 1.63%
Sean Roosen 198,269,197 98.47% 3,078,916 1.53%
Patrick F.N. Anderson 199,211,221 98.94% 2,136,892 1.06%
Keith McKay 199,187,777 98.93% 2,160,336 1.07%
Amy Satov 199,491,686 99.08% 1,856,427 0.92%
Bernardo Alvarez Calderon 199,486,523 99.08% 1,861,590 0.93%
Robert Wares 198,247,951 98.46% 3,100,162 1.54%
Andrée St-Germain 199,095,196 98.88% 2,252,917 1.12%
Cathy Singer 199,948,356 99.31% 1,399,757 0.70%

Further details on the above matters, including the report of voting results thereon, are available on SEDAR (www.sedar.com) under Osisko’s issuer profile.

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 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 the Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

For further information please contact:

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

INDEPENDENT PROXY ADVISORY FIRM INSTITUTIONAL SHAREHOLDER SERVICES RECOMMENDS OSISKO SHAREHOLDERS VOTE FOR ALL PROPOSED ITEMS AT THE ANNUAL GENERAL MEETING

(Toronto, May 19, 2020) Osisko Mining Inc. (“Osisko”) (TSX: OSK) is pleased to announce that Institutional Shareholder Services (“ISS”) has recommended that shareholders vote FOR all proposed items to be considered at its upcoming annual meeting of shareholders (“the Meeting”).

ISS is a prominent, third party proxy advisory firm who, among other services, provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.  ISS made their recommendation that shareholders vote FOR all the proposed items at this year’s annual meeting of shareholders.

Osisko encourages shareholders to read the meeting materials in detail.  Copies of the meeting material is available under Osisko’s profile on SEDAR at www.sedar.com and on Osisko’s website at http://www.osiskomining.com

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY

The Osisko Board of Directors UNANIMOUSLY recommends that Shareholders

Vote IN FAVOUR of All the Proposed Items.

Submit your vote well in advance of the proxy voting deadline at 10:00 a.m. Toronto time on Wednesday May 27, 2020

 

Shareholders are encouraged to vote using the internet or telephone, to ensure your vote is received in a timely manner.

Registered shareholders may vote by:  Shares held in own name and represented by a physical certificate

Beneficial shareholders (shares held with a broker, bank or other intermediary) may vote by:

  • Following the instructions on your voting instruction forms

Osisko Meeting

The Meeting is scheduled for 10:00 a.m. (Toronto Time) on Friday, May 29, 2020.  Join us via Teleconference. Dial 1-855-342-6455 (North America Toll Free) or 1-416-933-3853 (Outside North America).  Conference ID 2526184. Participants should dial in 5-10 minutes prior to the scheduled start time of the meeting. 

Shareholder Questions and Assistance

If you have any questions or require assistance voting your Osisko shares, please contact our proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 toll-free in North America, or call collect outside North America at +1 416 304-0211, or by e-mail at assistance@laurelhill.com

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Québec, Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val d’Or and Chibougamau and has a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

OSISKO RESUMES OPERATIONS AT WINDFALL

(Toronto, May 15, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) announced today that in accordance with permission from the Government of Quebec to resume exploration activities, and in close collaboration with the Cree First Nation of Waswanipi and the Cree Nation Government, a path has been identified for the resumption of operations at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. The collaboration builds on a long standing positive relationship which has allowed the Cree Nation and Osisko to address difficult subjects during these challenging times and provides for mutual support in ensuring the safety of community members and the work force of Osisko Mining Inc.

The initial group of employees and contractors have returned to the Windfall site, and drilling operations with six rigs will recommence this weekend.  Additional drills and workers will progressively return to work over the course of the coming weeks, with operations expected to return to full capacity by late June.  The health and safety of Osisko’s workforce, their families and the communities in which we operate remains the number one priority for Osisko.  Osisko is committed to fully supporting safety measures recommended by the Quebec Public Health Expertise and Reference Centre and by the CNESST for our workforce, families and communities.  Osisko thanks our workforce, partners and all stakeholders for their understanding and support, and looks forward to a safe and measured approach to the return to work.

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 the Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

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 term of any Government order, or of the suspension of operations described therein; 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 terms and duration of any government orders suspending or limiting operations that are applicable to Osisko; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses; 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