(Toronto, February 28, 2022) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce that it has entered into a memorandum of understanding (“MOU”) with the Cree First Nation of Waswanipi (the “CFNW”) whereby the CFNW will transport hydroelectric power to the Windfall project.

 

The CFNW will finance, build, own and operate a 120kV transmission line that will transport hydroelectricity to the Windfall project and surrounding area. As an end user, Osisko will pay transportation fees to the CFNW. The MOU outlines the principal terms of the agreement between Osisko and the CFNW which will ensure delivery of hydroelectricity to Osisko’s Windfall project for a nominal period of 18 years, with further extensions over the life of the Windfall mill.

 

The MOU solidifies the partnership approach between Osisko and the CFNW to natural resource development. Additionally, using hydroelectric power through the final stages of exploration and throughout the construction and operations phases will reduce greenhouse gas emissions by reducing the Windfall project’s dependency on fossil fuels.

 

CEO and Chairman of Osisko John Burzynski stated: “Osisko is proud to enter into this MOU with the Cree First Nation of Waswanipi, historically a new approach with respect to conducting business on Eeyou Istchee/James-Bay territory. The hydroelectric power transportation MOU is aligned with Osisko’s vision for sustainable development of natural resources, and with the CFNW’s vision of sustainable infrastructure within their traditional territory.

 

Chief Marcel Happyjack of the Cree First Nation of Waswanipi stated: “Osisko has consulted and worked with us as rightsholders since their acquisition of Windfall in August 2015. Their sustainable development approach is highlighted by the success of Miyuukaa Corp., our socio-economic development entity. This ownership opportunity is the culmination of years of mutual respect and collaboration. We are writing a new chapter in sustainable infrastructure development within the Eeyou Istchee/James Bay territory.”

 

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 2,500 square kilometres).

 

Cautionary Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to the ability of Osisko to complete the negotiation and enter into final and additional documentation in relation to the provision or electricity on terms acceptable to it; the ability of CFNW to finance, build, own and operate the power line; objectives, goals or future plans; statements regarding development and the provision of supplies to support development. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, successful negotiation of documents; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in Osisko’s public disclosure record on SEDAR (www.sedar.com) under Osisko’s issuer profile. Although Osisko believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Osisko disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

CONTACTS INFORMATION:

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

John Kitchen

Miyuukaa Corp.

Director and Chief Executive Officer

Telephone (819) 856-7273

449 g/t Au over 2.3 metres in Lynx

(Toronto, February 24, 2022) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 128 intercepts in 54 drill holes (6 from surface, 48 from underground) and 20 wedges. The infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (see Osisko news release dated January 10, 2022). The expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s drill results reinforce Windfall’s strong upside. We continue to be successful with our expansion drilling as illustrated by four new intercepts which expand Triple Lynx wireframe 3172 100 meters to the east as well as our headline hole from the Lynx hanging wall area. Infill drilling is continuing to intercept grade and width where anticipated, with the purpose of converting inferred blocks to the measured and indicated categories in support of the feasibility study to be completed later this year.”

Selected high-grade intercepts include: 449 g/t Au over 2.3 metres in WST-21-0935; 56.5 g/t Au over 6.9 metres in OSK-W-21-1949-W13; 52.7 g/t Au over 6.5 metres in OSK-W-21-1963-W10; 124 g/t Au over 2.6 metres in OSK-W-21-2601 and 21.8 g/t Au over 8.9 metres in OSK-W-21-2540-W7. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_Infill EN-20220224, Long Section_Expan EN-20220224, PR_EN_20220224_Surface, PR_EN_20220224_UG.

Infill Drilling

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t) uncut	Au (g/t)         cut to 100 g/t	Zone	Corridor
OSK-W-21-1871-W1	498.4	500.4	2.0	13.1		CA2_2225	Caribou
including	499.0	499.4	0.4	65.3
OSK-W-21-1949-W10	1073.0	1075.6	2.6	42.0	35.2	LX4_3430	Lynx 4
including	1073.8	1074.7	0.9	120	100
OSK-W-21-1949-W13	1081.5	1088.4	6.9	56.5	37.7	LX4_3404	Lynx 4
including	1081.5	1082.2	0.7	284	100
OSK-W-21-1949-W15	1095.5	1100.6	5.1	25.3	14.0	LX4_3404	Lynx 4
including	1096.5	1097.0	0.5	216	100
OSK-W-21-1949-W16	650.0	656.0	6.0	4.20		LXM_3353	Lynx
including	653.7	654.0	0.3	16.2
	737.6	742.3	4.7	24.1		LXM_3345	Lynx
including	738.1	739.0	0.9	71.3
OSK-W-21-1963-W10	1317.7	1324.2	6.5	52.7	40.1	LX4_3449	Lynx 4
including	1320.1	1321.1	1.0	182	100
OSK-W-21-2512-W3	667.4	669.4	2.0	8.09		UDD_4128	Underdog
including	668.3	668.6	0.3	17.5
	748.0	750.0	2.0	4.74		UDD_4104	Underdog
including	748.0	748.4	0.4	22.0
	774.0	776.1	2.1	9.36		UDD_4106	Underdog
including	775.7	776.1	0.4	47.0
OSK-W-21-2531-W3	815.0	817.0	2.0	25.4		UDD_4135	Underdog
	820.3	826.0	5.7	9.27		UDD_4121	Underdog
including	820.3	820.8	0.5	51.4
OSK-W-21-2544-W1	769.6	776.3	6.7	14.7		TLX_3171	Triple Lynx
including	771.7	772.0	0.3	55.0
and	772.0	772.5	0.5	69.4
OSK-W-21-2544-W3	767.3	770.4	3.1	16.7		TLX_3171	Triple Lynx
including	768.0	768.7	0.7	52.2
OSK-W-21-2578	585.8	588.0	2.2	7.90		UDD_4128	Underdog
including	587.0	587.3	0.3	33.5
OSK-W-21-2640-W1	649.2	652.0	2.8	4.85		CA2_2262	Caribou
OSK-W-21-2646	1046.4	1054.3	7.9	5.66		TLX_3158	Triple Lynx
including	1047.1	1048.0	0.9	13.8
WST-21-0708	617.2	619.5	2.3	8.56		LX4_3448	Lynx 4
including	619.2	619.5	0.3	63.6
WST-21-0878	184.4	186.5	2.1	15.7		TLX_3161	Triple Lynx
including	186.2	186.5	0.3	62.6
	190.0	192.1	2.1	20.8		TLX_3161	Triple Lynx
including	191.6	192.1	0.5	87.3
WST-21-0879	367.0	369.1	2.1	7.16		TLX_3167	Triple Lynx
WST-21-0881A	297.6	301.7	4.1	12.3	11.5	LSW_3556	Lynx SW
including	299.0	299.3	0.3	111	100
WST-21-0883	283.7	286.0	2.3	6.96		LSW_3500	Lynx SW
including	284.8	285.2	0.4	37.8
WST-21-0894B	305.2	307.4	2.2	42.0	24.7	LSW_3501	Lynx SW
including	306.1	306.5	0.4	195	100
WST-21-0896	521.7	523.9	2.2	6.87		LX4_3450	Lynx 4
including	522.7	523.0	0.3	49.2
WST-21-0897A	345.6	351.1	5.5	6.72		TLX_3131	Triple Lynx
including	350.3	351.1	0.8	22.5
	522.0	524.4	2.4	4.06		LX4_3403	Lynx 4
including	522.0	522.4	0.4	20.7
	545.0	547.0	2.0	16.9		LX4_3104	Lynx 4
	660.0	662.0	2.0	49.1	26.6	LX4_3448	Lynx 4
including	660.8	661.1	0.3	250	100
WST-21-0905C	323.0	325.0	2.0	27.9		TLX_3166	Triple Lynx
	464.7	466.8	2.1	7.18		LX4_3450	Lynx 4
including	464.7	465.1	0.4	21.9
WST-21-0908C	529.5	531.7	2.2	30.3	19.0	LX4_3404	Lynx 4
including	530.0	530.4	0.4	163	100
	554.3	557.6	3.3	21.5	18.5	LX4_3430	Lynx 4
including	554.3	554.8	0.5	120	100
WST-21-0911	546.7	549.0	2.3	10.3		LX4_3430	Lynx 4
including	547.6	547.9	0.3	71.1
WST-21-0912	497.0	499.0	2.0	6.09		LX4_3450	Lynx 4
including	497.4	498.0	0.6	19.8
WST-21-0914	313.9	315.9	2.0	4.68		LSW_3556	Lynx SW
WST-21-0919	366.3	368.6	2.3	8.97		TLX_3167	Triple Lynx
including	368.0	368.6	0.6	33.6
	425.6	427.8	2.2	8.84		TLX_3165	Triple Lynx
including	426.0	426.8	0.8	23.7
WST-21-0924A	44.9	47.0	2.1	16.7		LXM_3303	Lynx
including	45.4	45.9	0.5	67.1
	64.0	66.1	2.1	42.8	24.6	LXM_3336	Lynx
including	64.0	64.5	0.5	177	100
WST-21-0927	512.0	514.0	2.0	10.6		LX4_3450	Lynx 4
including	512.6	513.1	0.5	35.0
	720.7	725.0	4.3	20.7		LX4_3412	Lynx 4
including	723.0	724.0	1.0	50.9
WST-21-0928	264.4	266.8	2.4	9.03		TLX_3161	Triple Lynx
WST-21-0931	313.3	315.3	2.0	27.4		TLX_3131	Triple Lynx
	527.0	529.0	2.0	13.3		LX4_3450	Lynx 4
including	527.7	528.0	0.3	67.6
WST-21-0932	204.8	207.8	3.0	49.9	36.8	LHW_3207	Lynx HW
including	207.1	207.8	0.7	156	100
WST-21-0933A	712.4	716.4	4.0	10.0		LX4_3412	Lynx 4
WST-21-0935	160.7	164.6	3.9	11.4		LXM_3388	Lynx
including	160.7	161.5	0.8	47.6
WST-21-0936A	338.3	340.5	2.2	4.80		TLX_3133	Triple Lynx
including	339.6	340.5	0.9	11.3
	436.5	439.5	3.0	3.96		TLX_3165	Triple Lynx
WST-21-0937	96.0	98.2	2.2	5.40		LXM_3371	Lynx
including	97.1	97.5	0.4	29.0
WST-21-0943	302.8	305.0	2.2	7.80		TLX_3153	Triple Lynx
including	303.7	304.2	0.5	18.2
WST-21-0946	326.0	330.1	4.1	20.4		TLX_3131	Triple Lynx
including	329.6	330.1	0.5	75.2
WST-21-0948	454.9	457.0	2.1	5.64		LX4_3416	Lynx 4
WST-21-0957B	260.2	263.0	2.8	6.71		LHW_3203	Lynx HW
including	261.0	261.3	0.3	19.6
and	261.7	262.0	0.3	14.4
	276.0	281.0	5.0	4.51		LHW_3215	Lynx HW
including	280.0	281.0	1.0	11.1
WST-21-0958A	518.6	520.6	2.0	20.1		LX4_3450	Lynx 4
including	518.6	519.3	0.7	57.3
WST-21-0960	535.0	537.0	2.0	3.85		LX4_3404	Lynx 4
including	536.2	537.0	0.8	8.84
	563.7	565.8	2.1	11.6		LX4_3430	Lynx 4
including	564.6	565.2	0.6	40.1
	570.4	572.4	2.0	11.7		LX4_3430	Lynx 4
including	571.0	571.6	0.6	37.3
WST-21-0962	80.8	83.0	2.2	6.54		LXM_3307	Lynx
including	81.5	81.8	0.3	47.4
	466.0	468.0	2.0	10.7		LX4_3450	Lynx 4
including	466.6	466.9	0.3	59.3
WST-21-0963	168.5	170.6	2.1	83.7	47.4	LXM_3388	Lynx
including	169.4	170.0	0.6	227	100
	468.1	470.1	2.0	10.7		LX4_3430	Lynx 4
including	469.0	469.5	0.5	25.5
WST-21-0964	336.0	338.0	2.0	9.93		TLX_3131	Triple Lynx
WST-21-0965A	315.0	317.0	2.0	6.74		TLX_3131	Triple Lynx
WST-21-0968	194.2	196.2	2.0	4.64		TLX_3161	Triple Lynx
	217.0	219.0	2.0	4.21		TLX_3169	Triple Lynx
WST-21-0970	173.3	175.3	2.0	19.0		LXM_3388	Lynx
including	173.3	173.7	0.4	94.2
	261.4	263.4	2.0	11.8		LHW_3224	Lynx HW
including	261.4	261.9	0.5	39.2
WST-21-0971	58.5	61.0	2.5	5.56		LXM_3339	Lynx
	338.2	341.3	3.1	4.19		TLX_3166	Triple Lynx
WST-21-0979	201.0	203.0	2.0	15.6	15.3	TLX_3184	Triple Lynx
including	202.7	203.0	0.3	103	100
	231.4	235.6	4.2	5.40		TLX_3161	Triple Lynx
including	231.4	231.7	0.3	48.5
WST-21-0980	180.5	182.6	2.1	10.1		TLX_3161	Triple Lynx
including	180.5	180.9	0.4	52.6
	329.0	331.0	2.0	4.37		TLX_3131	Triple Lynx
including	329.8	330.2	0.4	15.9
WST-21-0981	167.0	169.0	2.0	4.51		TLX_3161	Triple Lynx
WST-21-0983	205.0	207.2	2.2	4.21		TLX_3154	Triple Lynx
including	206.8	207.2	0.4	19.3
	249.0	251.0	2.0	3.63		TLX_3161	Triple Lynx
WST-21-0987	46.3	48.8	2.5	6.65		TLX_3161	Triple Lynx
WST-21-0993	153.2	155.7	2.5	3.63		TLX_3184	Triple Lynx
including	155.4	155.7	0.3	8.11
	177.5	180.7	3.2	4.62		TLX_3161	Triple Lynx
including	177.5	177.9	0.4	15.1
and	180.0	180.7	0.7	11.5
	215.0	217.0	2.0	4.71		TLX_3175	Triple Lynx
including	216.5	217.0	0.5	11.3

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. CA2 = Caribou, LX4 = Lynx 4, LHW = Lynx Hanging Wall, LXM = Lynx Main, LSW = Lynx Southwest, TLX = Triple Lynx, and UDD = Underdog.

 

Expansion Drilling

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t) uncut	Au (g/t)         cut to 100 g/t	Zone	Corridor
OSK-W-21-1871-W1	864.0	866.0	2.0	16.2		UDD	Underdog
including	864.4	865.0	0.6	53.4
OSK-W-21-1871-W3	849.0	851.5	2.5	5.51		UDD	Underdog
including	851.0	851.5	0.5	20.5
OSK-W-21-2512-W2	539.9	543.0	3.1	3.66		CAE	Caribou
OSK-W-21-2540-W7	963.7	972.6	8.9	21.8	19.4	TLX_3158	Triple Lynx
including	966.1	966.6	0.5	142	100
	1111.0	1113.0	2.0	8.46		TLX	Triple Lynx
	1125.0	1127.4	2.4	3.55		TLX	Triple Lynx
OSK-W-21-2540-W9	923.0	925.2	2.2	10.9		TLX	Triple Lynx
including	923.8	924.3	0.5	45.4
	965.5	967.8	2.3	24.8	21.8	TLX_3158	Triple Lynx
including	967.5	967.8	0.3	123	100
OSK-W-21-2540-W10	990.3	992.7	2.4	17.6		TLX_3158	Triple Lynx
	1132.0	1134.0	2.0	5.57		TLX_3172	Triple Lynx
	1144.0	1146.0	2.0	7.90		TLX_3172	Triple Lynx
OSK-W-21-2540-W11	992.7	995.0	2.3	23.9		TLX_3158	Triple Lynx
including	993.1	994.1	1.0	53.3
OSK-W-21-2587-W2	527.5	529.6	2.1	3.59		LXM	Lynx
including	527.5	527.9	0.4	13.6
OSK-W-21-2601	992.7	995.3	2.6	124	38.5	TLX_3158	Triple Lynx
including	994.2	994.9	0.7	418	100
OSK-W-21-2601-W2	883.9	886.0	2.1	10.5		TLX	Triple Lynx
including	883.9	884.5	0.6	36.6
	978.3	981.1	2.8	32.6		TLX_3158	Triple Lynx
OSK-W-21-2601-W3	944.0	946.0	2.0	13.0		TLX_3158	Triple Lynx
OSK-W-21-2635	297.0	299.0	2.0	13.9		CAE	Caribou
including	297.0	298.0	1.0	27.7
OSK-W-21-2636	712.0	714.3	2.3	3.52		UDD	Underdog
including	714.0	714.3	0.3	12.4
OSK-W-21-2637	569.0	571.0	2.0	31.3		CAE	Caribou
including	570.2	571.0	0.8	77.8
WST-21-0708	239.0	241.3	2.3	11.0		TLX	Triple Lynx
including	240.0	240.7	0.7	35.8
WST-21-0754	150.6	153.8	3.2	6.83		LXM	Lynx
including	152.5	152.9	0.4	21.4
WST-21-0913	150.9	153.0	2.1	15.9		LXM	Lynx
including	150.9	151.7	0.8	41.6
WST-21-0914	384.5	387.0	2.5	6.59		LSW	Lynx SW
including	385.2	385.8	0.6	26.8
WST-21-0927	398.0	400.0	2.0	4.78		TLX	Triple Lynx
WST-21-0929B	193.6	196.0	2.4	30.3		TLX	Triple Lynx
including	194.7	195.2	0.5	69.5
WST-21-0931	456.1	459.1	3.0	9.87		TLX	Triple Lynx
WST-21-0935	265.7	268.0	2.3	449	17.5	LHW	Lynx HW
including	266.6	267.0	0.4	2580	100
WST-21-0936A	398.0	400.1	2.1	3.99		TLX	Triple Lynx
WST-21-0943	153.8	156.0	2.2	4.87		LXM	Lynx
including	154.1	154.7	0.6	16.6
WST-21-0944	258.0	260.2	2.2	4.05		LHW	Lynx HW
WST-21-0960	402.2	404.5	2.3	5.59		LX4	Lynx 4
including	402.2	402.6	0.4	21.5
WST-21-0962	187.0	189.0	2.0	14.5		LXM	Lynx
including	188.0	188.4	0.4	52.1
	402.0	404.0	2.0	18.9		TLX	Triple Lynx
	419.0	421.2	2.2	8.19		TLX	Triple Lynx
including	419.9	420.4	0.5	35.1
	639.0	641.3	2.3	6.98		LX4	Lynx 4
WST-21-0964	312.3	314.7	2.4	7.87		TLX	Triple Lynx
including	313.7	314.2	0.5	33.9
WST-21-0966	371.0	373.1	2.1	3.45		LHW_3233	Lynx HW
including	372.5	372.8	0.3	21.4
WST-21-0969	331.0	333.0	2.0	4.65		TLX	Triple Lynx
including	331.0	332.0	1.0	9.21
	480.0	482.1	2.1	4.36		LX4	Lynx 4
	536.8	539.0	2.2	11.5		LX4	Lynx 4
including	536.8	537.8	1.0	25.0
WST-21-0971	467.0	469.0	2.0	7.40		LX4	Lynx 4
including	467.0	467.9	0.9	16.3
	479.0	482.0	3.0	4.82		LX4	Lynx 4
WST-21-0981	192.4	195.3	2.9	7.36		TLX	Triple Lynx
including	192.4	193.0	0.6	24.2
WST-21-0993	160.0	162.1	2.1	12.7		TLX	Triple Lynx
including	161.1	162.1	1.0	26.1

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. CAE = Caribou, LHW = Lynx Hanging Wall, LSW = Lynx Southwest, LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx, and UDD = Underdog.

 

Drill hole location

Hole No.	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation	Section
OSK-W-21-1871-W1	331	-56	1119	452496	5434397	402	2475
OSK-W-21-1871-W3	331	-56	906	452496	5434397	402	2475
OSK-W-21-1949-W10	105	-57	1317	453440	5435479	401	3825
OSK-W-21-1949-W13	105	-57	1212	453440	5435479	401	3825
OSK-W-21-1949-W15	105	-57	1305	453440	5435479	401	3825
OSK-W-21-1949-W16	105	-57	1014	453440	5435479	401	3825
OSK-W-21-1963-W10	123	-58	1451	453761	5435816	401	4275
OSK-W-21-2512-W2	331	-54	834	452448	5434465	400	2475
OSK-W-21-2512-W3	331	-54	819	452448	5434465	400	2475
OSK-W-21-2531-W3	344	-62	1329	452566	5434415	403	2550
OSK-W-21-2540-W7	117	-60	1152	453465	5435640	410	3925
OSK-W-21-2540-W9	117	-60	1349	453465	5435640	410	3925
OSK-W-21-2540-W10	117	-60	1181	453465	5435640	410	3925
OSK-W-21-2540-W11	117	-60	1028	453465	5435640	410	3925
OSK-W-21-2544-W1	128	-50	1140	452960	5435539	419	3425
OSK-W-21-2544-W3	128	-50	810	452960	5435539	419	3425
OSK-W-21-2578	350	-53	942	452178	5434397	399	2200
OSK-W-21-2587-W2	127	-59	1167	453350	5435673	418	3850
OSK-W-21-2601	125	-61	1500	453425	5435657	413	3900
OSK-W-21-2601-W2	125	-61	1500	453425	5435657	413	3900
OSK-W-21-2601-W3	125	-61	1305	453425	5435657	413	3900
OSK-W-21-2635	327	-56	708	452684	5434475	402	2675
OSK-W-21-2636	337	-52	801	452499	5434619	403	2575
OSK-W-21-2637	140	-59	747	452768	5435312	406	3150
OSK-W-21-2640-W1	336	-58	737	452683	5434351	402	2625
OSK-W-21-2646	109	-58	1272	453326	5435648	413	3800
WST-21-0708	134	-40	670	453374	5435296	-26	3675
WST-21-0754	151	-44	220	453356	5435272	16	3650
WST-21-0878	128	-40	711	453375	5435297	-26	3675
WST-21-0879	139	-44	724	453258	5435209	96	3525
WST-21-0881A	147	-57	457	453105	5435065	231	3325
WST-21-0883	126	-59	393	453105	5435065	231	3325
WST-21-0894B	132	-52	417	452955	5435004	253	3175
WST-21-0896	140	-47	741	453258	5435209	96	3525
WST-21-0897A	127	-42	699	453375	5435297	-26	3675
WST-21-0905C	141	-52	511	453221	5435121	135	3450
WST-21-0908C	122	-44	664	453506	5435326	-90	3800
WST-21-0911	121	-44	635	453507	5435332	-48	3800
WST-21-0912	141	-41	640	453258	5435209	96	3525
WST-21-0913	138	-49	594	453322	5435236	54	3600
WST-21-0914	148	-59	502	453105	5435066	231	3325
WST-21-0919	141	-46	597	453257	5435209	96	3525
WST-21-0924A	151	-29	138	453314	5435164	124	3550
WST-21-0927	146	-48	751	453321	5435235	54	3600
WST-21-0928	154	-70	391	453507	5435327	-7	3800
WST-21-0929B	115	-46	771	453506	5435327	-90	3800
WST-21-0931	144	-50	603	453321	5435235	54	3600
WST-21-0932	136	-26	360	453461	5435326	32	3775
WST-21-0933A	131	-52	733	453222	5435121	135	3450
WST-21-0935	132	-10	283	453462	5435326	33	3775
WST-21-0936A	137	-48	570	453257	5435209	96	3525
WST-21-0937	147	-25	127	453314	5435164	124	3550
WST-21-0943	151	-55	388	453507	5435327	-7	3800
WST-21-0944	116	-8	325	453462	5435326	33	3775
WST-21-0946	168	-51	403	453507	5435327	-7	3800
WST-21-0948	136	-31	583	453374	5435296	-26	3675
WST-21-0957B	120	-9	306	453462	5435326	33	3775
WST-21-0958A	141	-49	579	453321	5435235	54	3600
WST-21-0960	116	-42	600	453506	5435327	-90	3800
WST-21-0962	132	-49	685	453222	5435122	135	3450
WST-21-0963	121	-36	543	453507	5435333	-47	3800
WST-21-0964	127	-38	684	453374	5435297	-26	3675
WST-21-0965A	141	-49	344	453507	5435327	-7	3800
WST-21-0966	145	-28	390	453461	5435326	32	3775
WST-21-0968	183	-48	243	453358	5435296	-148	3675
WST-21-0969	133	-52	639	453321	5435235	54	3600
WST-21-0970	117	-34	519	453507	5435333	-47	3800
WST-21-0971	139	-62	615	453222	5435121	135	3450
WST-21-0979	178	-55	255	453358	5435296	-149	3675
WST-21-0980	131	-38	681	453374	5435297	-26	3675
WST-21-0981	174	-51	258	453358	5435296	-149	3675
WST-21-0983	176	-59	279	453358	5435297	-149	3675
WST-21-0987	154	-4	73	453440	5435223	-157	3700
WST-21-0993	191	-28	231	453357	5435296	-148	3675

 

Caribou Zone

Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

Underdog

Mineralization most commonly occurs in gold-bearing quartz-pyrite (± tourmaline) veins and as disseminated, stringer, semi-massive to massive pyrite with minor sphalerite, chalcopyrite and molybdenite associated with strong sericite and silica alteration. Mineralization is hosted along the intrusive contacts of a three-phase composite felsic porphyritic unit which cross-cuts felsic and mafic volcanic sequences.

 

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), Director of Exploration for Osisko’s Windfall 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 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays 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, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (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 a Four Acid Digestion-ICP-MS 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 the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is 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 resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 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 gold 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 2,500 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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
Chief Executive Officer
Telephone (416) 363-8653

Joint-Venture Discussions with Northern Star Resources Conclude

Toronto, Ontario (February 16, 2022) – Osisko Mining Inc. (TSX:OSK) (“Osisko“) provides the update today, that further to its announcement of November 30, 2021, Osisko and Northern Star Resources Limited (“Northern Star“) have agreed to terminate joint venture negotiations with respect to Osisko’s Windfall Project.

Osisko has determined that development of the Windfall Project on an independent basis would be optimal for the shareholders of Osisko. While joint venture negotiations have concluded, Osisko maintains a mutually beneficial relationship with Northern Star as an important debt holder through its $154 million in a convertible senior unsecured debenture due December 1, 2025 (the “Debentures“) with interest at a rate of 4.75% per annum.

The exclusivity period for negotiation of the joint venture and associated special rights of conversion into a joint venture interest under certain circumstances expire on March 1, 2022.

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 2,500 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the use of proceeds from the sale of Debentures; the ability of Osisko to complete the negotiation and enter into the earn-in and joint venture agreement on terms acceptable to it; the ability of Osisko to fund the repayment of the Debentures; objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, successful negotiation of documents; capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in Osisko’s public disclosure record on SEDAR (www.sedar.com) under Osisko’s issuer profile. Although Osisko believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Osisko disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

For further information on Osisko please contact:

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

(Toronto, February 10, 2022) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce that it has filed a technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects to update the mineral resource estimate on its 100% owned Windfall gold deposit. The technical report entitled “ Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” and dated February 10, 2022 (effective date of October 20, 2021) has been prepared for Osisko by BBA Inc. The technical report is 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 Urban Barry area and nearby Quévillon area (over 2,500 square kilometres).

 

Cautionary Statements Regarding Mineral Resource Estimate

Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of mineral resources that are not mineral reserves has not been demonstrated. The mineral resource estimate described in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Readers are cautioned not to assume that further work on the stated mineral resources will lead to mineral reserves that can be mined economically.

 

CONTACT INFORMATION:

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

5000 tonnes Averaging 36.7 g/t Au (Capped Grade)

350% Higher Than 2022 MRE M&I Resource Average Grade

 

(Toronto, February 8, 2022) Osisko Mining Inc. (OSK:TSX “Osisko” or the “Corporation”) is pleased to provide an update from the ongoing exploration program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

New analytical results from 12.5 metre infill drilling targeting the Lynx 600 level bulk sample (the “Triple Lynx” bulk sample) area are presented below. The infill program was completed in support of a revised block model for the sample, predicting approximately 5,000 tonnes with an average capped grade of 36.7 g/t Au in the planned sample area.  This capped grade is 350% higher than the average grade of the recently published Windfall mineral resource estimate (“MRE”) (see Osisko news release dated January 10, 2022) measured and indicated average grade of 10.5 g/t Au and demonstrates the potential for areas of the deposit to host a significant number of additional ounces.

 

The infill intercepts are located inside defined January 2022 MRE blocks but were not included in the MRE (as they were received subsequent to the closure of the data base). Results include 25 intercepts in 22 drill holes (1 from surface, 21 from underground) and 3 wedges.

 

Chief Executive Officer John Burzynski commented: “We are highly encouraged with these initial results from the planned Lynx 600 bulk sample area.  We expect to extract the sample in the coming month, and to process it during the second quarter. These infill results continue to follow a general trend we have seen at Windfall, where detailed work in high-grade areas results in excellent and often positive confirmation of the high-grade zones. Our expectation is that we may again see a positive reconciliation once the sample is processed, based on the results of the first two Windfall bulk samples which returned 126% and 189% positive reconciliations (see respective Osisko news releases dated December 18, 2018 and December 11, 2019.)”

 

The bulk sample is situated in wireframe 3161 of the January 2022 MRE. The revised block model (informed by the 12.5 metre spaced infill drill program) used the same parameters as the January 2022 MRE, including the same capping methods. The revised block model predicts 4,977 tonnes averaging 36.7 g/t Au and estimates 5,872 ounces of gold from the sample area.

 

The planned sample is located 600 metres below surface (level 0600).  Access is planned via levels 0580 and 0600 which are accessible from the exploration ramp. Mining will begin with 65 metres of longitudinal development (4 metres high x 4 to 6 metres wide) along the mineralized corridor on each level. The 20 metre high long-hole stope (floor to floor) between levels is estimated to be 12.5 metres long x 6.5 metres wide. The proposed volume of approximately 4,977 tonnes to be mined includes the stope and the corresponding undercut segment of 12.5 metres of conventional development from level 0600.

 

Mineralization in the sample area is characterized by a two to seven metre wide zone of alteration with trace to 10% pyrite stingers, sericite and silica +/- fuchsite, which crosscuts gabbro and felsic dykes. Grey quartz veins with pyrite veinlets, trace sphalerite and local visible gold are associated with high-grade areas.

 

New and previously announced analytical results are shown in Table 1 and hole locations in Table 2.  Maps with hole locations and full analytical results are available at www.osiskomining.com. Maps: Bulk TLX-3161 Long section EN Final.

 

Table 1: Lynx 600 Bulk Sample 12.5m Infill Drilling Results

Drill Hole	From (m)	To (m)	Length (m)	Au (g/t) uncut	Au (g/t) Cut to 100g/t
OSK-W-19-2133*	796.3	798.8	2.5	37.0
OSK-W-20-2133-W3*	791.2	793.5	2.3	193	41.7
OSK-W-20-2133-W4*	798.8	802.4	3.6	40.4
OSK-W-19-2197-W1*	784.5	789.6	5.1	72.0	23.6
WST-20-0613*	237.8	240.3	2.5	696	43.4
WST-21-0614*	233.1	236.8	3.7	39.5	29.6
WST-21-0619A*	214.0	216.0	2.0	20.0
WST-21-0750*	232.6	234.8	2.2	248	55.6
WST-21-0751*	222.7	225.7	3.0	7.04
WST-21-0770	–	–	–	nsa
WST-21-0811A*	209.0	211.0	2.0	73.4	55.0
WST-21-0950A	54.1	56.1	2.0	50.0	39.3
WST-21-0951	61.0	63.0	2.0	180	75.2
WST-21-0952	53.5	55.7	2.2	153	63.3
WST-21-0953B	52.6	54.8	2.2	2.99
WST-21-0954	47.1	53.8	6.7	50.1	26.2
WST-21-0955	47.1	51.0	3.9	61.6	23.6
WST-21-0972	46.5	49.7	3.2	82.3	23.3
WST-21-0973	45.9	48.0	2.1	36.8
WST-21-0976	43.6	48.6	5.0	5.24
WST-21-0977	42.8	45.8	3.0	64.4	26.4
WST-21-0984	41.8	46.7	4.9	45.3	38.3
WST-21-0985	33.8	36.6	2.8	11.2
WST-21-0986	45.8	47.8	2.0	362	34.8
WST-21-0995	37.1	41.1	4.0	22.7	21.5

Notes: True widths are estimated at 77 – 100% of the reported core length interval. See “Quality Control and Reporting Protocols” below.

nsa = no significant assays. * Denotes results published in previous news releases.

 

Table 2: Lynx 600 Bulk Sample 12.5m Infill Hole Locations

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation	Section
OSK-W-19-2133	118	-49	1055	453080	5435531	417	3525
OSK-W-20-2133-W3	118	-49	965	453080	5435531	417	3525
OSK-W-20-2133-W4	118	-49	987	453080	5435531	417	3525
OSK-W-19-2197-W1	122	-48	1104	453087	5435526	417	3550
WST-20-0613	123	-55	442	453358	5435273	16	3650
WST-21-0614	131	-59	427	453357	5435273	16	3650
WST-21-0619A	174	-61	249	453507	5435327	-7	3800
WST-21-0750	124	-54	280	453357	5435273	16	3650
WST-21-0751	133	-56	331	453357	5435272	16	3650
WST-21-0770	129	-43	835	453374	5435296	-26	3675
WST-21-0811A	125	-44	708	453375	5435296	-26	3675
WST-21-0950A	107	-40	82	453442	5435225	-158	3700
WST-21-0951	106	-24	79	453442	5435224	-158	3700
WST-21-0952	114	-32	75	453442	5435224	-157	3700
WST-21-0953B	118	-23	73	453442	5435224	-157	3700
WST-21-0954	117	-43	76	453441	5435224	-158	3700
WST-21-0955	128	-36	73	453442	5435224	-158	3700
WST-21-0972	129	-48	67	453441	5435224	-158	3700
WST-21-0973	134	-19	67	453441	5435223	-157	3700
WST-21-0976	145	-54	103	453440	5435224	-159	3700
WST-21-0977	164	-49	61	453441	5435223	-158	3700
WST-21-0984	186	-49	72	453440	5435223	-158	3700
WST-21-0985	161	-34	64	453440	5435223	-158	3700
WST-21-0986	160	-17	73	453439	5435223	-158	3700
WST-21-0995	149	-39	148	453440	5435223	-159	3700

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Judith St-Laurent, P.Geo (OGQ #1023)., B.Sc., Director of Resource Estimation at Osisko, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The infill block model in the bulk sample area from the Lynx 3161 zone of the Windfall Gold Deposit, with an effective date of February 3, 2022, was prepared by Judith St-Laurent, P.Geo (OGQ #1023)., B.Sc., Director of Resource Estimation at Osisko, who is a “qualified person” within the meaning of NI 43-101. The scientific and technical content in this press release has been reviewed and approved by Mr. Mathieu Savard, P.Geo (OGQ #510), President of Osisko Mining, who is a “qualified person” within the meaning of NI 43-101.

Quality Control and Reporting Protocols

NQ core assays 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, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (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 a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/ Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Lake Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi greenstone belt region of Québec, Canada. The Mineral Resource Estimate (“MRE”) defined by Osisko, as disclosed in the news release dated January 10, 2022 and assuming a cut-off grade of 3.50 g/t Au, comprises 565,000 tonnes at 11.6 g/t Au (210,000 ounces) in the measured mineral resource category, 8,907,000 tonnes at 10.5 g/t Au (2,994,000 ounces) in the indicated mineral resource category and 13,035,000 tonnes at 8.6 g/t Au (3,585,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the January 10, 2022 news release, certain of which are described in the January 10, 2022 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with Ni 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from January 10, 2022. 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 resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 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 gold 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 2,500 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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.

 

For further information please contact:

John Burzynski

Chief Executive Officer

Telephone: (416) 363-8653