(Toronto, August 10, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical 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.

Drill hole OSK-W-20-2059-W4 returned an outstanding intercept averaging 202 g/t Au over 28 metres core length in Lynx 4 (202 g/t Au over 9.0 metres estimated true width). This drill hole intercepted the mineralized zone at a lower than usual core angle (20 degrees), resulting in an estimated true width of approximately 30% of the core length. The interval expands the Lynx 348 Wireframe by 25 metres to the southwest.

Osisko President and Chief Executive Officer John Burzynski commented: “Lynx has once again delivered very impressive results, giving us one of the highest-grade intercepts in our drilling to date.  Our infill drill program continues to highlight the high-grade continuity within the resource area, which remains open down plunge and importantly, towards surface.”

Significant new analytical results from 64 intercepts in 20 new drill holes and 12 wedges are presented below, including:  171 g/t Au over 2.5 metres in WST-20-0463; 173 g/t Au over 2.0 metres in OSK-W-20-2139-W8; 21.0 g/t Au over 13.0 metres in OSK-W-2256-W1; and 52.7 g/t Au over 2.2 metres  in WST-20-0447.  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-20-1741-W3	696.0	698.0	2.0	3.97		Lynx_336	Lynx
	968.0	970.0	2.0	6.12		Lynx_329	Lynx
	1080.9	1083.1	2.2	20.7		Lynx_312	Lynx
including	1082.0	1083.1	1.1	35.8
OSK-W-20-2059-W4	993.5	995.6	2.1	3.14		Lynx_327	Lynx
including	994.2	994.5	0.3	18.0
	1037.5	1066.1	28.0	202	31.0	Lynx_348	Lynx
including	1043.3	1043.6	0.3	102	100
including	1049.4	1049.7	0.3	674	100
including	1049.7	1050.0	0.3	9830	100
including	1050.0	1050.8	0.8	152	100
including	1051.7	1052.5	0.8	468	100
including	1054.6	1055.0	0.4	157	100
including	1055.0	1056.0	1.0	103	100
including	1058.1	1058.5	0.4	216	100
including	1058.5	1059.1	0.6	307	100
including	1062.5	1063.1	0.6	1785	100
including	1063.1	1064.0	0.9	256	100
OSK-W-20-2139-W8	918.7	920.7	2.0	22.3	20.2	Lynx_371	Triple Lynx
including	919.6	919.9	0.3	114	100
	931.5	933.7	2.2	4.90		Lynx_371	Triple Lynx
	940.7	942.7	2.0	4.31		Lynx_361	Triple Lynx
including	940.7	941.0	0.3	12.3
	957.0	962.3	5.3	8.62		Lynx_368	Triple Lynx
including	957.7	958.0	0.3	49.1
	967.3	970.4	3.1	8.51		Lynx_363	Triple Lynx
including	969.6	970.1	0.5	21.9
	1002.0	1004.0	2.0	173	57.3	Lynx_369	Triple Lynx
including	1003.6	1004.0	0.4	677	100
	1030.1	1033.0	2.9	5.17		Lynx_369	Triple Lynx
	1037.6	1039.6	2.0	4.21		Lynx_369	Triple Lynx
OSK-W-20-2139-W9	543.5	545.7	2.2	20.3		Triple Lynx	Triple Lynx
including	544.0	544.7	0.7	63.5
	949.0	951.0	2.0	5.72		Lynx_364	Triple Lynx
including	949.0	949.5	0.5	14.1
OSK-W-20-2217-W2	546.0	548.0	2.0	11.7		Lynx_365	Triple Lynx
including	546.0	547.0	1.0	23.4
OSK-W-20-2250-W3	765.0	767.0	2.0	28.4	24.5	Lynx_363	Triple Lynx
including	765.5	765.8	0.3	126	100
OSK-W-20-2252-W1	828.0	830.0	2.0	3.48		Lynx_371	Triple Lynx
including	828.9	829.2	0.3	19.1
	874.1	876.2	2.1	4.21		Lynx_361	Triple Lynx
	892.0	894.0	2.0	3.60		Lynx_361	Triple Lynx
	987.9	990.0	2.1	3.29		Lynx_369	Triple Lynx
including	988.5	989.0	0.5	8.49
OSK-W-20-2256	844.0	846.5	2.5	4.24		Lynx_371	Triple Lynx
OSK-W-20-2256-W1	855.0	868.0	13.0	21.0	17.0	Lynx_361	Triple Lynx
including	862.5	863.2	0.7	174	100
	947.0	949.0	2.0	15.3		Lynx_375	Triple Lynx
including	947.0	948.0	1.0	29.7
OSK-W-20-2260-W1	891.0	893.0	2.0	32.3		Lynx_363	Triple Lynx
including	891.9	892.6	0.7	86.1
	1098.0	1100.3	2.3	7.30		Lynx_374	Triple Lynx
including	1099.3	1100.3	1.0	13.3
OSK-W-20-2260-W2	882.0	884.0	2.0	3.03		Lynx_363	Triple Lynx
OSK-W-20-2266-W1	939.6	942.3	2.7	4.99		Lynx_370	Triple Lynx
OSK-W-20-2266-W2	731.9	742.7	10.8	9.07		Lynx_361	Triple Lynx
including	736.9	738.0	1.1	35.3
	774.0	776.0	2.0	8.57		Lynx_363	Triple Lynx
including	775.0	775.3	0.3	41.5
OSK-W-20-2270	596.0	598.0	2.0	5.99		Lynx_356	Lynx
including	597.0	597.5	0.5	23.0
OSK-W-20-2272	568.5	570.5	2.0	4.65		Lynx_356	Lynx
including	569.5	569.9	0.4	21.4
WST-20-0342A	551.0	553.6	2.6	4.60		Lynx_313	Lynx
including	553.1	553.6	0.5	17.9
	565.3	568.0	2.7	3.77		Lynx_340	Lynx
including	565.3	565.6	0.3	20.1
WST-20-0446	209.0	211.5	2.5	10.0		Lynx_341	Lynx
including	211.1	211.5	0.4	38.3
WST-20-0447	53.6	55.6	2.0	3.63		Lynx_311	Lynx
	66.8	68.8	2.0	8.47		Lynx_311	Lynx
including	68.0	68.3	0.3	48.9
	113.2	115.4	2.2	52.7	48.5	Lynx_323	Lynx
including	114.2	114.5	0.3	131	100
	129.4	133.0	3.6	11.2		Lynx_304	Lynx
including	129.4	130.0	0.6	40.9
and	132.7	133.0	0.3	48.7
	497.4	499.5	2.1	13.4		Lynx_313	Lynx
including	498.8	499.5	0.7	38.9
	528.0	530.4	2.4	4.92		Lynx_329	Lynx
WST-20-0453	134.9	136.9	2.0	13.0		Lynx_301	Lynx
including	136.6	136.9	0.3	76.2
	151.3	153.5	2.2	13.8		Lynx_315	Lynx
including	152.4	153.0	0.6	49.9
WST-20-0454	137.0	139.5	2.5	4.31		Lynx_301	Lynx
including	138.0	138.6	0.6	16.7
WST-20-0455	140.9	143.6	2.7	5.79		Lynx_301	Lynx
WST-20-0456	145.0	147.0	2.0	7.75		Lynx_301	Lynx
including	145.8	146.6	0.8	19.2
WST-20-0458	166.3	169.0	2.7	14.9		Lynx_301	Lynx
including	167.0	167.6	0.6	47.7
WST-20-0459	53.7	56.1	2.4	43.1	37.9	Lynx_339	Lynx
including	53.7	54.6	0.9	114	100
	83.3	86.8	3.5	10.8		Lynx_307	Lynx
including	83.3	84.1	0.8	29.8
WST-20-0460	217.0	219.0	2.0	3.52		Lynx_321	Lynx
	234.6	238.0	3.4	12.9		Lynx_301	Lynx
including	235.6	236.0	0.4	72.9
WST-20-0461	163.6	166.0	2.4	30.0		Lynx_304	Lynx
including	164.6	165.4	0.8	89.1
	171.3	174.0	2.7	5.60		Lynx_304	Lynx
including	171.3	171.9	0.6	18.8
	192.8	195.0	2.2	3.96		Lynx_341	Lynx
WST-20-0463	52.7	55.0	2.3	4.90		Lynx_311	Lynx
including	52.7	53.0	0.3	10.1
and	54.0	54.3	0.3	20.8
	100.0	102.5	2.5	171	40.2	Lynx_323	Lynx
including	100.0	101.0	1.0	427	100
	119.8	121.8	2.0	9.08		Lynx_304	Lynx
including	119.8	120.6	0.8	22.5
	436.3	438.3	2.0	24.5	15.5	Lynx_347	Lynx
including	437.4	437.7	0.3	160	100
	469.9	473.8	3.9	9.07		Lynx_313	Lynx
including	469.9	470.8	0.9	19.0
and	472.4	472.9	0.5	23.1
WST-20-0464	133.0	135.2	2.2	5.33		Lynx_321	Lynx
including	133.0	133.3	0.3	33.1
WST-20-0465	135.0	137.0	2.0	9.56		Lynx_301	Lynx
including	136.6	137.0	0.4	44.5
WST-20-0466	138.7	141.0	2.3	5.17		Lynx_301	Lynx
WST-20-0467	160.0	162.0	2.0	11.0		Lynx_315	Lynx
including	161.0	162.0	1.0	21.8
WST-20-0469	136.0	138.4	2.4	13.4		Lynx_301	Lynx

 

Notes: True widths are estimated at 30 – 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-20-1741-W3	144	-48	1098	453328	5435466	406	3725
OSK-W-20-2059-W4	131	-52	1092	453446	5435477	400	3825
OSK-W-20-2139-W8	115	-52	1125	452980	5435549	420	3450
OSK-W-20-2139-W9	115	-52	1152	452980	5435549	420	3450
OSK-W-20-2217-W2	134	-48	893	452943	5435566	419	3425
OSK-W-20-2250-W3	132	-57	1170	453128	5435505	420	3575
OSK-W-20-2252-W1	129	-54	1119	453241	5435694	415	3750
OSK-W-20-2256	125	-51	1179	453160	5435686	414	3675
OSK-W-20-2256-W1	125	-51	1101	453160	5435686	414	3675
OSK-W-20-2260-W1	127	-48	1140	453199	5435669	413	3700
OSK-W-20-2260-W2	127	-48	1191	453199	5435669	413	3700
OSK-W-20-2266-W1	128	-55	1116	453069	5435476	418	3500
OSK-W-20-2266-W2	128	-55	1131	453069	5435476	418	3500
OSK-W-20-2270	133	-53	774	452972	5435211	416	3275
OSK-W-20-2272	149	-45	1004	452967	5435264	412	3300
WST-20-0342A	116	-47	679	453452	5435266	115	3725
WST-20-0446	115	-49	613	453452	5435265	114	3725
WST-20-0447	128	-48	657	453411	5435230	113	3675
WST-20-0453	139	13	172	453494	5435287	118	3775
WST-20-0454	135	19	181	453493	5435287	118	3775
WST-20-0455	138	28	192	453493	5435287	119	3775
WST-20-0456	129	24	193	453494	5435287	119	3775
WST-20-0458	112	14	204	453495	5435287	118	3775
WST-20-0459	153	-47	579	453227	5435126	135	3475
WST-20-0460	126	-33	295	453494	5435287	116	3775
WST-20-0461	115	-45	622	453452	5435265	114	3725
WST-20-0463	137	-43	552	453411	5435230	113	3675
WST-20-0464	138	3	171	453494	5435287	118	3775
WST-20-0465	147	7	184	453494	5435287	117	3775
WST-20-0466	131	9	183	453494	5435287	118	3775
WST-20-0467	147	-1	193	453494	5435287	117	3775
WST-20-0469	149	15	184	453494	5435287	118	3775

 

Lynx Zone

Gold mineralization in the Lynx Zone occurs as two types: grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides, pyrite dominated with minor chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite, ranging from trace to up to 70% locally, and local visible gold. Replacement-type 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. Both types of mineralization are 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.

 

Triple Lynx

Gold mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. 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 30-80% 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 deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. 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

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

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

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

 

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

(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

(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
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%)

 

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

(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

• Internet: voteproxyonline.com
• Facsimile: 416-595-9593

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).