OSISKO INFILL DRILLING WINDFALL. GOOD.

Results Include 86.2 g/t Au over 14.5 Metres and 327 g/t Au over 2.2 Metres

(Toronto, November 24, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition 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. Osisko Chief Executive Officer John Burzynski commented: “We remain very pleased with Lynx’s consistent good results on grade and widths.”

The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 27 intercepts in 10 drill holes and 9 wedges.

Selected high-grade intercepts from the new results include: 86.2 g/t Au over 14.5 metres in OSK-W-2256-W5; 327 g/t Au over 2.2 metres in WST-20-0569; 85.0 g/t Au over 10.8 metres in OSK-W-20-2133-W4; 94.9 g/t Au over 2.1 metres in WST-20-0508; and 71.3 g/t Au over 4.0 metres in OSK-W-2252-W5. 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-20-2133-W4 928.8 939.6 10.8 85.0 22.7 Lynx_331 Triple Lynx
including 931.0 933.1 2.1 420 100
OSK-W-20-2252-W5 854.7 856.9 2.2 18.6   Lynx_371 Triple Lynx
including 855.6 856.0 0.4 97.3
882.3 886.3 4.0 71.3 43.8 Lynx_371 Triple Lynx
including 884.1 884.6 0.5 234 100
and 885.9 886.3 0.4 375 100
OSK-W-20-2252-W7 943.6 950.1 6.5 36.0 25.8 Lynx_368 Triple Lynx
including 943.9 945.2 1.3 151 100
OSK-W-20-2256-W5 858.5 873.0 14.5 86.2 16.4 Lynx_361 Triple Lynx
including 868.1 868.4 0.3 230 100
and 868.4 868.7 0.3 3120 100
and 869.0 869.3 0.3 321 100
OSK-W-20-2275-W2 906.6 910.3 3.7 7.56   Triple Lynx Triple Lynx
including 909.0 909.5 0.5 25.7
OSK-W-20-2280-W2 998.4 1001.1 2.7 11.2   Lynx_368 Triple Lynx
  1027.9 1031.3 3.4 5.60   Lynx_363 Triple Lynx
including 1027.9 1028.3 0.4 28.3
OSK-W-20-2295-W2 654.0 656.0 2.0 16.1   Lynx_376 Triple Lynx
including 654.5 655.0 0.5 51.9
OSK-W-20-2295-W3 697.0 699.0 2.0 5.11   Triple Lynx Triple Lynx
including 698.1 698.5 0.4 22.8
OSK-W-20-2313-W2 986.3 988.3 2.0 6.69   Triple Lynx Triple Lynx
OSK-W-20-2339 608.3 610.5 2.2 8.59   Triple Lynx Triple Lynx
WST-20-0473 101.0 103.0 2.0 12.3   Lynx_304 Lynx
including 102.5 103.0 0.5 48.6
WST-20-0486 93.0 95.0 2.0 5.03   Lynx_323 Lynx
WST-20-0487 103.7 106.0 2.3 25.2   Lynx_359 Lynx
including 104.4 105.0 0.6 53.2
WST-20-0500 132.0 134.5 2.5 10.1   Lynx_304 Lynx
including 132.9 133.6 0.7 35.9
WST-20-0506 82.7 85.1 2.4 6.21   Lynx_311 Lynx
WST-20-0508 51.4 53.5 2.1 6.01   Lynx_311 Lynx
including 52.8 53.1 0.3 37.7
70.5 72.8 2.3 9.05   Lynx_323 Lynx
77.4 80.0 2.6 4.45   Lynx_308 Lynx
including 77.7 78.1 0.4 21.9
93.9 96.0 2.1 94.9 22.0 Lynx_304 Lynx
including 93.9 94.3 0.4 483 100
109.0 111.2 2.2 19.2   Lynx_359 Lynx
including 110.7 111.2 0.5 71.7
WST-20-0511 82.5 88.4 5.9 15.6   Lynx_308 Lynx
including 83.4 84.0 0.6 79.7
92.0 94.0 2.0 9.36   Lynx_304 Lynx
including 93.6 94.0 0.4 45.0
WST-20-0515 156.0 158.0 2.0 24.4 20.4 Lynx_323 Lynx
including 157.0 157.4 0.4 120 100
169.0 171.0 2.0 25.0 21.0 Lynx_304 Lynx
including 169.0 169.4 0.4 120 100
WST-20-0569 310.5 312.7 2.2 327 28.2 Lynx_356 Lynx
including 310.5 311.1 0.6 1195 100

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-20-2133-W4 118 -49 987 453080 5435531 417 3525
OSK-W-20-2252-W5 129 -54 1092 453241 5435694 415 3750
OSK-W-20-2252-W7 129 -54 1089 453241 5435694 415 3750
OSK-W-20-2256-W5 125 -51 1022 453160 5435686 414 3675
OSK-W-20-2275-W2 127 -49 1035 452886 5435584 409 3400
OSK-W-20-2280-W2 127 -58 1211 453304 5435639 415 3775
OSK-W-20-2295-W2 132 -51 963 452938 5435472 415 3375
OSK-W-20-2295-W3 132 -51 969 452938 5435472 415 3375
OSK-W-20-2313-W2 134 -52 1047 452965 5435583 420 3450
OSK-W-20-2339 144 -50 1025 452960 5435442 415 3400
WST-20-0473 149 -16 202 453493 5435287 117 3775
WST-20-0486 130 -37 162 453359 5435209 154 3625
WST-20-0487 140 -5 177 453358 5435208 155 3625
WST-20-0500 139 -30 166 453228 5435126 135 3475
WST-20-0506 175 20 141 453357 5435208 156 3625
WST-20-0508 136 -12 138 453316 5435165 124 3575
WST-20-0511 137 8 162 453316 5435165 125 3575
WST-20-0515 158 -33 186 453418 5435305 68 3725
WST-20-0569 165 -59 526 453104 5435065 231 3325

 

Lynx Zone

Mineralization occurs as 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 (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.

 

Triple Lynx

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 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 a four acids digestion -MS61 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
Chief Executive Officer
Telephone (416) 363-8653

OSISKO INFILL DRILLING RETURNS HIGH GRADE AT WINDFALL

Including 22.3 g/t Au Over 15.9 Metres

(Toronto, October 8, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition 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. Osisko Chief Executive Officer John Burzynski commented: “Infill drilling is progressing very well, daily increasing our confidence in the continuity and prevalence of high-grade mineralization at Windfall. Today’s infill results contain 18 intercepts with uncut average grades of over half an ounce per tonne, including the spectacular 22.3 g/t Au over 15.9 metres, showing that Lynx not only has grade but can also deliver width.”

The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 67 intercepts in 26 drill holes and 8 wedges.

Selected high-grade intercepts from the new results include: 314 g/t Au over 3.0 metres in OSK-W-20-2260-W1; 22.3 g/t Au over 15.9 metres in OSK-W-20-2139-W10; 33.6 g/t Au over 9.8 metres in OSK-W-20-2280-W1; 127 g/t Au over 2.3 metres in OSK-W-20-2256; 97.8 g/t Au over 2.5 metres in OSK-W-20-2292-W1; and 53.4 g/t Au over 2.1 metres in OSK-W-20-2252-W4. Maps showing hole locations and full analytical results are available at www.osiskomining.com

 

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-20-2139-W10 899.0 914.9 15.9 22.3   LYNX_371 TRIPLE LYNX
including 907.1 907.6 0.5 80.2
941.9 944.0 2.1 17.4   Lynx_363 Triple Lynx
OSK-W-20-2197-W2 780.0 782.0 2.0 10.1   Lynx_363 Triple Lynx
including 780.8 781.7 0.9 22.1
OSK-W-20-2252-W2 826.0 828.0 2.0 4.03   Lynx_371 Triple Lynx
833.0 835.0 2.0 4.41   Lynx_371 Triple Lynx
OSK-W-20-2252-W4 880.5 882.6 2.1 53.4 33.2 Lynx_371 Triple Lynx
including 882.0 882.6 0.6 171 100
889.0 892.0 3.0 3.24   Lynx_361 Triple Lynx
902.0 904.0 2.0 41.5   Lynx_361 Triple Lynx
including 903.0 904.0 1.0 82.1
OSK-W-20-2256 852.8 855.0 2.2 44.4 19.7 Lynx_371 Triple Lynx
including 853.2 853.6 0.4 236 100
  881.1 883.4 2.3 127 51.1 Lynx_361 Triple Lynx
including 882.2 882.8 0.6 390 100
894.0 896.2 2.2 4.63   Lynx_361 Triple Lynx
  898.0 900.0 2.0 11.3   Lynx_361 Triple Lynx
  978.9 982.9 4.0 4.44   Lynx_369 Triple Lynx
including 982.2 982.9 0.7 10.5
OSK-W-20-2256-W4 930.0 934.0 4.0 5.63   Lynx_364 Triple Lynx
963.0 965.0 2.0 19.3   Lynx_369 Triple Lynx
including 964.0 964.5 0.5 76.4
OSK-W-20-2260-W1 843.0 846.0 3.0 314 38.0 Lynx_361 Triple Lynx
including 843.4 844.4 1.0 927 100
OSK-W-20-2272 613.0 615.0 2.0 3.45   Lynx_356 Lynx
OSK-W-20-2275 796.0 798.0 2.0 4.38   Lynx_365 Triple Lynx
including 796.0 796.6 0.6 11.3
837.0 839.2 2.2 23.4 22.8 Lynx_365 Triple Lynx
including 837.7 838.2 0.5 102 100
OSK-W-20-2280 1003.7 1006.3 2.6 4.94   Lynx_368 Triple Lynx
including 1003.7 1004.0 0.3 11.1
and 1004.0 1004.4 0.4 10.5
1025.9 1030.1 4.2 8.13   Lynx_363 Triple Lynx
including 1027.0 1027.5 0.5 25.5
1038.0 1040.0 2.0 3.76   Lynx_363 Triple Lynx
including 1039.4 1040.0 0.6 8.10
1067.0 1069.0 2.0 12.5   Lynx_364 Triple Lynx
including 1067.8 1068.1 0.3 52.1
  1079.0 1081.0 2.0 4.09   Lynx_364 Triple Lynx
  1088.7 1094.4 5.7 16.8 12.9 Lynx_369 Triple Lynx
including 1093.2 1093.5 0.3 173 100
1109.0 1111.0 2.0 4.64   Lynx_370 Triple Lynx
OSK-W-20-2280-W1 1006.0 1008.0 2.0 4.22   Lynx_368 Triple Lynx
including 1006.0 1007.0 1.0 8.08
  1013.0 1016.0 3.0 4.82   Lynx_368 Triple Lynx
  1021.9 1024.1 2.2 20.3   Lynx_363 Triple Lynx
  1043.4 1047.6 4.2 27.7   Lynx_363 Triple Lynx
including 1043.7 1044.7 1.0 78.6
  1080.8 1083.0 2.2 4.81   Lynx_364 Triple Lynx
  1097.0 1106.8 9.8 33.6 27.6 Lynx_370 Triple Lynx
including 1102.0 1104.0 2.0 129 100
and 1106.5 1106.8 0.3 108 100
OSK-W-20-2288 624.4 633.9 9.5 12.0   Lynx_356 Lynx
including 629.4 630.0 0.6 27.9
and 632.7 633.3 0.6 28.8
OSK-W-20-2292 852.0 854.0 2.0 3.87   Lynx_363 Triple Lynx
including 852.0 852.7 0.7 10.9
OSK-W-20-2292-W1 835.9 838.0 2.1 3.39   Lynx_361 Triple Lynx
840.0 843.5 3.5 3.65   Lynx_361 Triple Lynx
including 840.0 840.4 0.4 7.83
and 843.0 843.5 0.5 9.84
857.0 859.3 2.3 26.0   Lynx_363 Triple Lynx
including 858.3 859.3 1.0 57.6
889.5 892.0 2.5 97.8 32.2 Lynx_364 Triple Lynx
including 890.3 891.1 0.8 305 100
OSK-W-20-2293 139.9 142.4 2.5 5.25   F17_6005 F-17
including 142.0 142.4 0.4 18.0
OSK-W-20-2297 128.0 131.0 3.0 29.3 24.2 F17_6003 F-17
including 128.0 128.4 0.4 138 100
166.5 168.8 2.3 5.82   F17_6005 F-17
OSK-W-20-2300 149.7 154.0 4.3 7.42   F17_6005 F-17
including 151.0 152.0 1.0 15.6
OSK-W-20-2312 126.0 128.0 2.0 7.26   Mallard_5200 Mallard
including 127.0 127.6 0.6 22.6
OSK-W-20-2315 127.0 129.0 2.0 5.59   Mallard_5200 Mallard
157.0 159.0 2.0 4.13   Mallard_5213 Mallard
OSK-W-20-2321 166.3 168.5 2.2 6.40   Mallard_5213 Mallard
including 167.2 167.8 0.6 21.2
OSK-W-20-2323 153.0 155.0 2.0 3.88   Mallard_5213 Mallard
including 154.7 155.0 0.3 24.1
OSK-W-20-2327 105.3 111.4 6.1 13.6   Mallard_5213 Mallard
including 109.0 110.0 1.0 48.9
WST-20-0135 72.0 74.3 2.3 4.20   Lynx_311 Lynx
including 73.9 74.3 0.4 14.6
WST-20-0318 65.0 68.5 3.5 36.2   Lynx_311 Lynx
including 66.0 66.7 0.7 91.0
WST-20-0389A 192.0 194.3 2.3 9.23   Lynx_341 Lynx
including 192.0 192.6 0.6 23.5
553.9 555.9 2.0 3.44   Lynx_340 Lynx
including 553.9 554.3 0.4 15.7
WST-20-0391A 91.6 94.1 2.5 6.21   Lynx_304 Lynx
including 93.4 94.1 0.7 17.6
98.3 100.5 2.2 3.47   Lynx_304 Lynx
WST-20-0392 82.8 84.8 2.0 8.12   Lynx_323 Lynx
including 83.4 83.8 0.4 26.3
  88.0 90.2 2.2 5.49   Lynx_323 Lynx
  107.0 109.7 2.7 11.2   Lynx_304 Lynx
including 108.4 108.8 0.4 70.9
WST-20-0393 48.9 51.5 2.6 4.68   Lynx_325 Lynx
including 50.0 50.7 0.7 10.2
113.2 115.9 2.7 5.34   Lynx_304 Lynx
including 114.3 114.8 0.5 18.8
WST-20-0402 142.1 144.4 2.3 25.8 14.3 Lynx_301 Lynx
including 142.1 142.4 0.3 189 100
WST-20-0409 85.4 87.4 2.0 3.37   Lynx_323 Lynx
WST-20-0412 97.6 99.9 2.3 9.21   Lynx_323 Lynx
including 99.6 99.9 0.3 48.5
WST-20-0421 87.6 90.0 2.4 3.87   Lynx_323 Lynx
including 88.2 88.5 0.3 28.3
151.0 153.2 2.2 4.96   Lynx_321 Lynx
including 152.3 153.2 0.9 11.2
WST-20-0423 101.0 103.7 2.7 5.56   Lynx_304 Lynx
109.0 112.0 3.0 9.95   Lynx_359 Lynx
WST-20-0424 115.0 117.0 2.0 8.3   Lynx_359 Lynx
including 116.0 117.0 1.0 15.4

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-20-2139-W10 115 -52 1212 452980 5435549 420 3450
OSK-W-20-2197-W2 121 -48 1064 453087 5435526 417 3550
OSK-W-20-2252-W2 129 -54 1194 453241 5435694 415 3750
OSK-W-20-2252-W4 129 -54 1143 453241 5435694 415 3750
OSK-W-20-2256 125 -51 1179 453160 5435686 414 3675
OSK-W-20-2256-W4 125 -51 1122 453160 5435686 414 3675
OSK-W-20-2260-W1 127 -48 1140 453201 5435667 413 3700
OSK-W-20-2272 149 -45 1004 452967 5435265 412 3300
OSK-W-20-2275 127 -49 1094 452886 5435584 409 3400
OSK-W-20-2280 127 -58 1161 453304 5435639 415 3775
OSK-W-20-2280-W1 127 -58 1170 453304 5435639 415 3775
OSK-W-20-2288 146 -51 749 452875 5435181 409 3175
OSK-W-20-2292 125 -54 1059 453037 5435563 420 3525
OSK-W-20-2292-W1 125 -54 1149 453037 5435563 420 3525
OSK-W-20-2293 145 -44 183 452658 5435549 406 3175
OSK-W-20-2297 149 -47 180 452652 5435567 405 3175
OSK-W-20-2300 152 -45 192 452699 5435578 406 3225
OSK-W-20-2312 334 -51 192 451964 5434816 408 2225
OSK-W-20-2315 334 -52 192 451979 5434805 407 2225
OSK-W-20-2321 332 -51 176 451958 5434790 407 2200
OSK-W-20-2323 335 -49 171 451936 5434791 405 2175
OSK-W-20-2327 334 -49 132 451901 5434810 401 2150
WST-20-0135 187 -58 444 453226 5435125 134 3475
WST-20-0318 148 -52 502 453228 5435127 134 3475
WST-20-0389A 115 -46 616 453452 5435266 115 3725
WST-20-0391A 135 8 174 453359 5435209 155 3625
WST-20-0392 126 2 181 453359 5435209 155 3625
WST-20-0393 153 -37 175 453358 5435208 154 3625
WST-20-0402 147 32 162 453493 5435287 119 3775
WST-20-0409 155 21 169 453450 5435264 117 3725
WST-20-0412 164 24 165 453450 5435264 117 3725
WST-20-0421 162 16 168 453450 5435264 117 3725
WST-20-0423 134 -18 142 453359 5435209 154 3625
WST-20-0424 160 5 178 453358 5435208 155 3625

 

Lynx Zone

Mineralization occurs as 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 (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.

 

F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

 

Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.

 

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, QualityAssurance/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 a100% 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
Chief Executive Officer
Telephone (416) 363-8653

OSISKO STEP-OUT DRILLING EXPANDS HIGH GRADE AT WINDFALL

Including 391 g/t Au Over 2.4 Metres in Triple Lynx

(Toronto, October 7, 2020) 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.

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Windfall continues to grow in scale with impressive results flowing in from the Lynx deposit.  Today’s new intersections are all from outside the published resource area and include 15 intercepts with uncut average grades of over one oz/t. The ongoing expansion drilling continues to show the incredible upside growth potential of our deposit.”

The table below shows intercepts located outside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). These intercepts either expand the resource wireframes or are located in a defined zone/corridor but not yet correlated to a specific wireframe. Significant new analytical results are presented below and include 110 intercepts in 43 drill holes and 24 wedges.

Selected high-grade intercepts from the new results include: 391 g/t Au over 2.4 metres, 70 metres toward surface from wireframe Lynx_361, in OSK-W-20-2133-W2; 142 g/t Au over 2.3 metres in OSK-W-20-2307; 86.0 g/t Au over 2.1 metres in WST-20-0341A; 73.8 g/t Au over 2.0 metres in WST-20-0470; 54.4 g/t Au over 4.8 metres in OSK-W-20-2252-W2; and 49.8 g/t Au over 2.2 metres in OSK-W-20-2292. Maps showing hole locations and full analytical results are available at www.osiskomining.com

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-17-1258 971.7 973.7 2.0 3.33   LYNX 4 LYNX
including 971.7 972.7 1.0 6.56
OSK-W-18-1727 782.9 784.9 2.0 12.7   Lynx Lynx
OSK-W-19-1857-W11 1301.8 1304.6 2.8 7.39   Lynx 4 Lynx
OSK-W-19-2100-W4 1212.5 1214.7 2.2 5.22   Triple Lynx Triple Lynx
1242.0 1244.0 2.0 6.47   Triple Lynx Triple Lynx
OSK-W-19-2101 664.4 667.0 2.6 5.48   Triple Lynx Triple Lynx
OSK-W-20-2133-W2 783.6 786.0 2.4 391 31.1 Lynx_361 Triple Lynx
including 784.2 784.6 0.4 2260 100
OSK-W-20-2139-W7 1081.0 1083.5 2.5 9.53   Triple Lynx Triple Lynx
including 1081.0 1081.9 0.9 26.1
OSK-W-20-2139-W8 543.0 545.0 2.0 6.68   Triple Lynx Triple Lynx
including 543.5 544.4 0.9 14.5
OSK-W-20-2139-W10 1196.0 1198.0 2.0 11.7   Triple Lynx Triple Lynx
including 1196.0 1197.1 1.1 21.3
OSK-W-19-2169 893.9 895.9 2.0 5.59   Lynx 4 Lynx
including 894.7 895.3 0.6 18.2
1256.3 1258.4 2.1 15.8   Lynx 4 Lynx
including 1257.5 1258.4 0.9 36.2
OSK-W-20-2170-W6 1384.0 1386.4 2.4 6.70   Lynx 4 Lynx
OSK-W-19-2173 29.0 31.0 2.0 3.07   F11 F11
OSK-W-19-2177 200.0 202.0 2.0 3.10   F11 F11
OSK-W-20-2197-W2 768.7 771.4 2.7 10.3   Lynx_361 Triple Lynx
including 769.7 770.7 1.0 26.0
1045.0 1047.0 2.0 5.66   Lynx 4 Lynx
OSK-W-20-2217-W2 860.0 862.0 2.0 14.0   Triple Lynx Triple Lynx
including 860.0 860.5 0.5 55.6
OSK-W-20-2217-W3 830.0 832.3 2.3 7.53   Lynx_363 Triple Lynx
including 831.0 831.4 0.4 26.8
  1111.7 1114.0 2.3 16.4   Triple Lynx Triple Lynx
including 1113.5 1114.0 0.5 66.3
OSK-W-20-2249 730.0 732.0 2.0 5.66   Lynx SW Lynx
including 730.5 730.9 0.4 22.8
OSK-W-20-2250 1002.2 1005.0 2.8 18.1 15.6 Triple Lynx Triple Lynx
including 1002.2 1002.5 0.3 123 100
OSK-W-20-2250-W1 1009.0 1011.1 2.1 5.08   Triple Lynx Triple Lynx
OSK-W-20-2250-W2 1024.7 1028.0 3.3 28.8   Triple Lynx Triple Lynx
including 1026.4 1027.0 0.6 63.0
OSK-W-20-2250-W3 714.0 716.5 2.5 14.7   Triple Lynx Triple Lynx
OSK-W-20-2250-W4 727.7 734.5 6.8 4.58   Triple Lynx Triple Lynx
including 727.7 728.4 0.7 10.3
and 730.5 731.0 0.5 12.0
855.4 858.0 2.6 6.29   Triple Lynx Triple Lynx
including 857.2 858.0 0.8 18.6
OSK-W-20-2252-W2 812.0 814.0 2.0 7.64   Triple Lynx Triple Lynx
817.2 822.0 4.8 54.4 10.4 Triple Lynx Triple Lynx
including 817.2 817.5 0.3 804 100
OSK-W-20-2252-W3 824.3 829.7 5.4 3.58   Triple Lynx Triple Lynx
  845.1 847.1 2.0 4.01   Triple Lynx Triple Lynx
OSK-W-20-2253 387.5 389.5 2.0 4.30   Caribou Corridor Caribou
OSK-W-20-2256 870.0 872.8 2.8 9.81   Triple Lynx Triple Lynx
OSK-W-20-2256-W2 815.0 817.0 2.0 3.17   Triple Lynx Triple Lynx
OSK-W-20-2260-W2 1091.0 1093.0 2.0 6.47   Triple Lynx Triple Lynx
including 1091.4 1092.1 0.7 18.1
1174.4 1176.5 2.1 9.43   Triple Lynx Triple Lynx
including 1176.0 1176.5 0.5 28.0
OSK-W-20-2263 94.0 96.0 2.0 8.58   Bobcat Bobcat
including 94.0 95.0 1.0 16.9
106.7 108.8 2.1 6.12   Bobcat Bobcat
including 108.0 108.8 0.8 14.1
710.0 712.0 2.0 42.6 21.4 Lynx SW Lynx
including 711.2 711.6 0.4 206 100
OSK-W-20-2266 1027.4 1029.5 2.1 5.58   Triple Lynx Triple Lynx
including 1028.7 1029.0 0.3 33.1
OSK-W-20-2266-W1 776.8 779.2 2.4 5.73   Triple Lynx Triple Lynx
including 778.0 779.2 1.2 11.1
797.3 799.3 2.0 3.08   Lynx_364 Triple Lynx
OSK-W-20-2266-W2 717.4 719.4 2.0 19.9   Lynx_363 Triple Lynx
OSK-W-20-2267 50.4 52.8 2.4 15.4   Bobcat Bobcat
including 51.0 51.5 0.5 46.4
OSK-W-20-2268-W1 737.1 739.3 2.2 7.46   Triple Lynx Triple Lynx
including 738.3 739.0 0.7 19.0
819.0 821.3 2.3 27.4   Triple Lynx Triple Lynx
including 819.0 820.0 1.0 45.7
1027.0 1029.0 2.0 6.70   Triple Lynx Triple Lynx
including 1027.4 1028.2 0.8 16.5
OSK-W-20-2268-W2 999.0 1001.0 2.0 5.08   Triple Lynx Triple Lynx
OSK-W-20-2269 97.3 99.5 2.2 8.21   Bobcat Bobcat
including 98.0 98.4 0.4 30.8
518.2 520.6 2.4 3.37   Lynx SW Lynx
886.0 888.0 2.0 14.0   Lynx SW Lynx
including 886.5 886.8 0.3 92.5
OSK-W-20-2271 809.6 815.2 5.6 6.69   Lynx Lynx
including 814.2 815.2 1.0 17.4
841.1 843.1 2.0 18.2   Lynx Lynx
including 842.1 843.1 1.0 35.0
877.0 879.0 2.0 5.36   Lynx Lynx
including 877.9 878.2 0.3 27.8
OSK-W-20-2272 683.0 685.1 2.1 13.0   Triple Lynx Triple Lynx
including 683.0 683.9 0.9 29.7
OSK-W-20-2273 706.7 708.7 2.0 8.32   Lynx_363 Triple Lynx
including 706.7 707.2 0.5 22.4
1013.8 1017.3 3.5 4.78   Triple Lynx Triple Lynx
including 1015.1 1015.5 0.4 16.1
OSK-W-20-2280 1013.2 1016.7 3.5 5.23   Triple Lynx Triple Lynx
including 1013.8 1014.2 0.4 26.7
and 1016.4 1016.7 0.3 11.3
1084.7 1087.0 2.3 4.27   Triple Lynx Triple Lynx
OSK-W-20-2280-W1 1090.0 1092.0 2.0 11.8   Triple Lynx Triple Lynx
OSK-W-20-2282 308.4 310.8 2.4 6.13   Bobcat Bobcat
including 309.0 309.5 0.5 16.6
OSK-W-20-2283 808.0 813.4 5.4 33.5 29.0 Triple Lynx Triple Lynx
including 810.8 811.3 0.5 73.1
and 811.7 812.0 0.3 182 100
819.0 821.0 2.0 7.27   Triple Lynx Triple Lynx
including 819.6 820.0 0.4 24.1
823.2 825.5 2.3 4.30   Triple Lynx Triple Lynx
including 823.6 824.4 0.8 10.6
1001.0 1003.2 2.2 44.8 23.6 Triple Lynx Triple Lynx
including 1002.7 1003.2 0.5 194 100
1018.0 1020.0 2.0 19.3   Triple Lynx Triple Lynx
including 1018.9 1019.5 0.6 54.4
OSK-W-20-2288 467.0 469.8 2.8 8.13   Lynx SW Lynx
including 467.0 467.4 0.4 38.9
OSK-W-20-2292 390.0 392.0 2.0 7.18   Lynx Lynx
including 391.7 392.0 0.3 19.3
  835.4 837.8 2.4 4.47   Triple Lynx Triple Lynx
  845.0 847.0 2.0 11.8   Lynx_361 Triple Lynx
including 845.8 846.3 0.5 41.0
882.0 884.0 2.0 8.01   Lynx_364 Triple Lynx
including 883.0 884.0 1.0 15.7
1007.2 1009.2 2.0 49.8 21 Lynx_372 Triple Lynx
including 1008.8 1009.2 0.4 244 100
OSK-W-20-2295 651.2 658.0 6.8 12.4   Triple Lynx Triple Lynx
including 652.4 652.7 0.3 28.7
and 653.4 654.0 0.6 45.9
and 656.1 656.7 0.6 56.9
891.7 893.7 2.0 11.6   Lynx SW Triple Lynx
including 891.7 892.7 1.0 23.0
OSK-W-20-2295-W1 648.6 651.4 2.8 45.1 30.1 Triple Lynx Triple Lynx
including 650.0 650.7 0.7 160 100
OSK-W-20-2298 169.0 171.7 2.7 7.41   Bobcat Bobcat
including 169.0 169.7 0.7 20.2
245.0 247.0 2.0 6.59   Bobcat Bobcat
including 245.0 245.7 0.7 18.4
373.0 375.0 2.0 16.7   Lynx SW Lynx
including 373.8 374.3 0.5 65.2
OSK-W-20-2305 630.8 635.0 4.2 4.47   Triple Lynx Triple Lynx
including 634.0 635.0 1.0 9.32
  876.0 878.3 2.3 10.7   Triple Lynx Triple Lynx
including 877.6 878.3 0.7 31.6
882.2 884.6 2.4 43.0 18.0 Triple Lynx Triple Lynx
including 883.4 883.8 0.4 250 100
OSK-W-20-2306 137.8 140.0 2.2 4.30   Bobcat Bobcat
  147.1 149.4 2.3 3.12   Bobcat Bobcat
  275.0 277.3 2.3 8.58   Bobcat Bobcat
including 275.8 276.5 0.7 20.7
386.1 388.3 2.2 3.94   Lynx SW Lynx
including 386.6 387.0 0.4 11.5
OSK-W-20-2307 689.6 691.9 2.3 142 75.8 Lynx_341 Lynx
including 690.0 690.4 0.4 413 100
OSK-W-20-2310 69.7 72.0 2.3 35.6 13.8 Mallard_5200 Mallard
including 70.8 71.1 0.3 267 100
OSK-W-20-2312 85.0 87.3 2.3 7.19   Mallard Mallard
including 85.7 86.2 0.5 25.4
OSK-W-20-2324 90.0 92.5 2.5 8.43   Mallard Mallard
WST-20-0135 293.0 295.1 2.1 35.1 19.2 Lynx SW Lynx
including 293.7 294.1 0.4 184 100
351.8 354.7 2.9 3.15   Lynx SW Lynx
including 351.8 352.3 0.5 8.55
and 354.1 354.7 0.6 7.76
360.4 362.6 2.2 13.4   Triple Lynx Triple Lynx
including 360.4 361.4 1.0 28.9
397.3 399.4 2.1 23.6 14.5 Lynx SW Lynx
including 397.8 398.1 0.3 164 100
WST-20-0318 377.4 379.6 2.2 8.05   Lynx SW Lynx
463.3 466.0 2.7 9.06   Lynx 4 Lynx
WST-20-0339 199.1 202.2 3.1 4.57   Lynx HW Lynx
WST-20-0341A 306.1 308.2 2.1 86.0 19.9 Lynx SW Lynx
including 306.1 306.5 0.4 447 100
346.1 348.1 2.0 10.6   Lynx SW Lynx
including 347.3 347.7 0.4 50.2
WST-20-0345 361.7 363.9 2.2 3.75   Caribou corridor Caribou
including 362.3 363.1 0.8 9.43
WST-20-0400 158.0 160.2 2.2 11.2   Lynx_301 Lynx
including 159.0 160.2 1.2 19.7
WST-20-0411 148.2 150.4 2.2 38.1 36.1 Lynx HW Lynx
including 149.2 149.9 0.7 107 100
WST-20-0412 155.0 157.2 2.2 3.06   Lynx_328 Lynx
including 156.9 157.2 0.3 11.2
WST-20-0417 190.6 192.6 2.0 22.4   Lynx Lynx
including 190.6 191.2 0.6 41.5
428.2 430.2 2.0 4.06   Lynx 4 Lynx
WST-20-0423 125.0 127.0 2.0 5.23   Lynx Lynx
including 125.0 125.7 0.7 14.9
WST-20-0459 204.3 206.4 2.1 20.6   Lynx SW Lynx
including 205.9 206.4 0.5 76.2
WST-20-0462 171.0 173.0 2.0 40.4   Lynx Lynx
including 171.5 172.5 1.0 79.1
454.0 456.0 2.0 3.50   Lynx_336 Lynx
including 454.0 454.8 0.8 8.19
638.9 643.2 4.3 3.82   Lynx Lynx
including 638.9 639.6 0.7 12.6
WST-20-0470 86.2 88.2 2.0 73.8 15.0 Lynx Lynx
including 87.5 87.8 0.3 492 100

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

DRILL HOLE LOCATION

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-17-1258 126 -51 1128 452972 5435211 416 3275
OSK-W-18-1727 331 -61 810 453461 5435040 396 3625
OSK-W-19-1857-W11 108 -58 1385 453525 5435704 405 4000
OSK-W-19-2100-W4 122 -47 1260 453095 5435726 423 3650
OSK-W-19-2101 18 -68 909 453426 5434779 396 3475
OSK-W-19-2169 130 -50 1268 453215 5435512 410 3650
OSK-W-19-2173 156 -46 234 452182 5435722 407 2850
OSK-W-19-2177 153 -51 396 452454 5435997 406 3225
OSK-W-20-2133-W2 118 -49 1139 453080 5435531 417 3525
OSK-W-20-2139-W7 115 -52 1164 452980 5435549 420 3450
OSK-W-20-2139-W8 115 -52 1125 452980 5435549 420 3450
OSK-W-20-2139-W10 115 -52 1212 452980 5435549 420 3450
OSK-W-20-2170-W6 128 -59 1407 453425 5435657 413 3900
OSK-W-20-2197-W2 121 -48 1064 453087 5435526 417 3550
OSK-W-20-2217-W2 134 -48 893 452944 5435565 418 3425
OSK-W-20-2217-W3 134 -48 1128 452944 5435565 418 3425
OSK-W-20-2249 132 -56 759 452775 5435192 411 3100
OSK-W-20-2250 132 -57 1064 453129 5435505 419 3575
OSK-W-20-2250-W1 132 -57 1060 453129 5435505 419 3575
OSK-W-20-2250-W2 132 -57 1134 453129 5435505 419 3575
OSK-W-20-2250-W3 132 -57 1170 453129 5435505 419 3575
OSK-W-20-2250-W4 132 -57 1005 453129 5435505 419 3575
OSK-W-20-2252-W2 129 -54 1194 453241 5435694 415 3750
OSK-W-20-2252-W3 129 -53 1062 453241 5435694 415 3750
OSK-W-20-2253 128 -54 924 452831 5435326 413 3225
OSK-W-20-2256 125 -51 1179 453160 5435686 414 3675
OSK-W-20-2256-W2 125 -51 957 453160 5435686 414 3675
OSK-W-20-2260-W2 127 -48 1191 453201 5435667 413 3700
OSK-W-20-2263 128 -49 1029 452926 5435187 413 3225
OSK-W-20-2266 128 -55 1050 453067 5435478 418 3500
OSK-W-20-2266-W1 128 -55 1116 453067 5435478 418 3500
OSK-W-20-2266-W2 128 -55 1131 453067 5435478 418 3500
OSK-W-20-2267 135 -52 66 452972 5435210 416 3275
OSK-W-20-2268-W1 127 -55 1073 453148 5435488 418 3575
OSK-W-20-2268-W2 127 -55 1038 453148 5435488 418 3575
OSK-W-20-2269 133 -50 933 452972 5435210 416 3275
OSK-W-20-2271 120 -53 1247 453462 5435683 410 3950
OSK-W-20-2272 149 -45 1004 452967 5435265 412 3300
OSK-W-20-2273 129 -51 1059 453067 5435478 417 3500
OSK-W-20-2280 127 -58 1161 453304 5435639 415 3775
OSK-W-20-2280-W1 127 -58 1170 453304 5435639 415 3775
OSK-W-20-2282 148 -56 588 452875 5435181 409 3175
OSK-W-20-2283 135 -50 1151 452997 5435607 425 3500
OSK-W-20-2288 146 -51 749 452875 5435181 409 3175
OSK-W-20-2292 125 -54 1059 453037 5435563 420 3525
OSK-W-20-2295 132 -51 987 452938 5435472 415 3375
OSK-W-20-2295-W1 132 -51 960 452938 5435472 415 3375
OSK-W-20-2298 137 -50 596 452847 5435059 407 3100
OSK-W-20-2305 124 -55 911 453026 5435408 413 3425
OSK-W-20-2306 152 -55 531 452872 5435155 407 3175
OSK-W-20-2307 124 -54 878 453397 5435557 413 3825
OSK-W-20-2310 333 -51 144 451970 5434835 407 2225
OSK-W-20-2312 334 -51 192 451964 5434816 408 2225
OSK-W-20-2324 334 -51 167 451944 5434811 406 2200
WST-20-0135 187 -58 444 453226 5435125 134 3475
WST-20-0318 148 -52 502 453228 5435127 134 3475
WST-20-0339 146 -18 295 453410 5435229 114 3675
WST-20-0341A 163 -42 493 453228 5435126 134 3475
WST-20-0345 136 -21 401 452282 5434975 263 2575
WST-20-0400 167 16 172 453493 5435287 118 3775
WST-20-0411 156 38 171 453450 5435264 118 3725
WST-20-0412 164 24 165 453450 5435264 117 3725
WST-20-0417 138 -50 759 453228 5435126 134 3475
WST-20-0423 134 -18 142 453359 5435209 154 3625
WST-20-0459 153 -47 579 453227 5435126 135 3475
WST-20-0462 152 -53 680 453227 5435125 134 3475
WST-20-0470 158 9 184 453493 5435287 118 3775

 

Lynx Zone

Mineralization occurs as 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 (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.

 

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.

 

F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

 

Bobcat

Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.

 

Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.

 

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 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
Chief Executive Officer
Telephone (416) 363-8653

OSISKO MINING CORPORATE UPDATE

(Toronto, September 16, 2020) Osisko Mining Inc. (OSK:TSX) (“Osisko” or the “Corporation”) is pleased to provide the following corporate update.

Mr. John Burzynski has been appointed as Chairman of the board of directors and remains in his role as Chief Executive Officer and as a director; Mr. Sean Roosen has stepped down from his role as non-executive Chairman of the board and remains in his role as a director; and Mr. Mathieu Savard has been promoted to President.

A graduate of the Université du Québec à Montréal with a bachelor’s degree in earth sciences with over 20 years’ experience in the mining industry, Mr. Savard served previously as Osisko’s Senior Vice-President Exploration.  Prior to joining Osisko Mining in 2016, Mathieu was a senior member of the Osisko Exploration James Bay, Virginia Gold and Virginia Gold Mines teams. Mathieu was a key member of the Virginia team which received the Association de l’Exploration Minière du Quebec (“AEMQ”) Prospector of the Year Award in 2004 and the PDAC’s prestigious Bill Dennis Award in 2006 for the discovery of the Eleonore gold deposit, and along with the Osisko Mining management and exploration team received the AEMQ 2017 Discovery of the Year Award, for the discovery of the Lynx deposit at Windfall.  Mathieu is a registered P.Geo.  as a member of the Ordre des Géologues du Québec and is Chairman of the board and a director of the AEMQ.

Chief Executive Officer and Chairman of the Corporation John Burzynski commented:  “I would like to thank Sean Roosen very much for his past tenure as Chairman, and for continuing in his role as a director.  I am very pleased to welcome Mathieu as the incoming President of Osisko Mining, and I look forward to him leading our team in the next stages of the work at Windfall, and to making additional discoveries in the coming years.  Our goal on the re-creation of Osisko Mining in 2015 was to discover and develop another world class gold mine in Québec.  We acquired a promising deposit, a district-scale land package, assembled one of the best exploration teams in the business, and commenced one of the world’s largest drill programs at Windfall.  Five years of persistence and hard work have paid off with the discovery of Lynx and the delineation of a world class deposit.

Osisko’s management and Board has had an unusual level of success in the Canadian mining business, leading to the last three world class gold discoveries in Québec (Windfall, Canadian Malartic, and Eleonore).  Our independent Lead Director was additionally responsible for leading the team that discovered the world class Fruta del Norte deposit in Ecuador. All this to say that at Osisko we have a strong and highly experienced Board and management team, one of the finest and most capable technical teams in the business, and one of the most proven track records of gold discovery and value creation for shareholders amongst any of our peers.  I have every confidence that Mathieu’s strong leadership skills will continue to take us to new heights.”

About Osisko Mining Inc.

Osisko is an exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Québec.  Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau and holds a100% undivided interest in over 2,700 square kilometres in the surrounding Urban Barry and Quévillon area.

For further information please contact:   John Burzynski, Chief Executive Officer and Chairman    Telephone: (416) 363-8653

OSISKO INTERSECTS 115 G/T AU OVER 5.6 METRES AT WINDFALL

(Toronto, September 1, 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.

Drilling is currently focused on the Lynx deposit, the main mineralized zones, and down plunge exploration in the central areas of the mineralized system.  Osisko President and Chief Executive Officer John Burzynski commented: “We continue to be impressed with the strong results from Lynx, and are seeing good possibilities to extend the mineralization in the known zones.  While we are focused on completing the infill drilling, the deposit continues to grow in the process.”

Infill results are presented below. Significant new analytical results from 96 intercepts in 38 new drill holes and 26 wedges include: 115 g/t Au over 5.6 metres and 25.6 g/t Au over 5.0 metres in OSK-W-20-2256-W2; 57.9 g/t Au over 3.6 metres in OSK-W-20-2139-W9; 94.4 g/t Au over 2.0 metres in WST-20-0389A; 54.4 g/t Au over 3.3 metres in OSK-W-20-2260-W2; 77.3 g/t Au over 2.3 metres in OSK-W-20-2268-W3; 42.8 g/t Au over 3.1 metresin OSK-W-20-2243-W4; 31.2 g/ Au over 4.1 metres OSK-W-20-2252-W2; 62.2 g/t Au over 2.0 metres in OSK-W-20-2299; and 47.4 g/t Au over 2.5 metres in WST-20-0471.  Maps showing hole locations and full analytical results are available at www.osiskomining.com.

OSISKO MINING ANNOUNCES INCREASE TO PREVIOUSLY ANNOUNCED BOUGHT DEAL PRIVATE PLACEMENT

Upsized Offering to Include 2,647,000 Common Shares and, as initially announced, 26,176,471 Flow-Through Shares for Aggregate Gross Proceeds of $72.5 million

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

(Toronto, August 16, 2018) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce that it has amended its agreement dated August 15, 2018 with Canaccord Genuity Corp., on behalf of a syndicate of underwriters (collectively, the “Underwriters”) in relation to its previously announced two- tranche “bought deal” private placement of 26,176,471 common shares of the Corporation that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and, in relation to the first tranche of “flow-through shares”, section 359.1 of the Taxation Act (Québec)) for aggregate gross proceeds of approximately $68 million (the “Offering”).

The Offering has been amended to include an additional 2,647,000 common shares of the Corporation (the “Common Shares”) at a price of $1.70 per Common Share for additional gross proceeds of approximately $4.5 million. The terms of the previously announced two-tranche private placement financing of “flow-through shares” remain unchanged.

In addition, the Underwriters will have the option, exercisable in whole or in part at any time prior to the closing of the Offering, to increase the size of the Offering of the Common Shares by up to an additional 1,176,000 Common Shares at a price of $1.70 per Common Share for additional gross proceeds of approximately $2.0 million.

The Offering is expected to close on or about September 18, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities. The securities to be issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Osisko Mining Inc.

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

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about the Offering; the use of the proceeds from the Offering; the jurisdictions in which the securities will be offered or sold; the number of securities offered or sold; the size of the Offering; the timing and ability of the Corporation to close the Offering, if at all; the timing and ability of the Corporation to satisfy the customary listing conditions of the Toronto Stock Exchange, if at all; the timing and ability of the Corporation to obtain all necessary approvals; the tax treatment of the securities issued under the Offering under the Income Tax Act (Canada) and Taxation Act (Québec); and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward- looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Osisko, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the Offering; volatility in the trading price of common shares of the Corporation; risks relating to the ability of the Corporation to obtain required approvals, complete definitive documentation and complete the Offering; the ability of Osisko to complete further exploration activities, including drilling; property interests; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; changes in the tax and regulatory regime; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward- looking information contained herein to reflect new events or circumstances, except as may be required by law.

For further information please contact:

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

Osisko Mining Provides Ontario Exploration Update

(Toronto, February 13, 2018) Osisko Mining Inc. (OSK:TSX) (“Osisko” or the “Corporation”) is pleased to provide an update on the progress of exploration at its 100% owned Garrison gold project located in Garrison Township, Ontario.

Osisko has been conducting new exploration and definition drilling at Garrison for 20 months, since early 2016.  As of the end of January 2018, Osisko has completed 85,000 metres of new drilling to complement the pre-existing 108,000 metres drilled at Garrison by previous operators.  The company has re-evaluated previous drilling from the Jonpol Zone, continued resource delineation at the Garrcon Zone and substantially expanding the 903 Zone with exploration drilling in the southwest part of the property.  Dewatering and geological mapping of the Garrcon bulk sample pits was conducted during 2017.  Work is in progress on interpretation of the geological model of the Garrcon and 903 zones, including mineralization controls.

Exploration Budget for 2018:  $3M
Osisko’s 2018 exploration budget for the Garrison deposit totals approximately $3 million.  This includes resource estimation work, additional resource-oriented infill drilling, metallurgical work and exploration drilling on the Garrison property.

Garrison:  Updated Resource Estimation Planned for July 2018
Osisko’s updated resource estimate for the Garrison Project is scheduled to be released in July 2018. 

The Garrison property consists of three mineralized zones with different styles:  the Garrcon Zone is hosted by Temiskaming sediments in the footwall of the Destor Porcupine Fault Zone (PDFZ); the Jonpol Zone comprises 1.7 km of structurally controlled mineralization along the Munro Shear Zone hosted by mafic to ultramafic volcanic rocks; and the 903 Zone is hosted by syenite dykes intruding ultramafic rocks along the PDFZ.  The Jonpol and 903 zones remain open to the southwest and northwest respectively. The Garrcon, Jonpol and 903 zones will all be included in the 2018 updated resource.

Property Disposals
Through the course of 2017 Osisko vended the Catharine, DeSantis and Swayze exploration projects to other mining companies. 

President and CEO of Osisko John Burzynski commented: “Although our main focus is on the Windfall project in Québec, Osisko has continued work on the Garrison project, with the goal of updating the resource and improving our understanding of the potential of the Garrcon, Jonpol and 903 zones.  Drilling in 2017 was successful at significantly expanding the size of the 903 Zone.  Our upcoming July resource estimate will include all three zones (Garrcon, Jonpol and 903), and we will continue to evaluate the extensions of known mineralization with exploration drilling in 2018.” 

Qualified Person
The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Gernot Wober, P.Geo. VP Exploration Canada for Osisko Mining Inc, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

About the Garrison Project

The Garrison Project area is comprised of 214 mineral claims, 25 mining leases, and 87 patent claims encompassing approximately 8,000 hectares.  Both Garrcon and Jonpol have resource estimates that are described in a technical report prepared in accordance with NI 43-101, which was completed by a previous operator Northern Gold Mining Inc. (entitled “Technical Report on the Golden Bear Project – Garrison Property: Larder Lake Mining Division, Garrison Township, Ontario, Canada”) dated December 30, 2013, with an effective date of December 30, 2013 (the “Garrison Technical Report”). The Garrison Technical Report was prepared by A.C.A. Howe International Limited for Northern Gold Mining Inc. (a wholly-owned subsidiary of Osisko) and is available on Osiskos website at www.osiskomining.com and on SEDAR under Northern Gold Mining Inc.s issuer profile at www.sedar.com.

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

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

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

Garrcon Zone

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

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

In 2014, Northern Gold Mining Inc. was granted a trial mining permit allowing the extraction of up to 150,000 tonnes. Northern Gold Mining Inc. mined 73,534 dry tonnes which was processed at the nearby Holt mill facility recovering 3,516 oz at an average head grade of 1.55 g/t and recovery of 95.9%.

Jonpol Zone

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

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

903 Zone

This third mineralized zone present at Garrison was not included in the resource estimate reported by the previous operator in 2013. Mineralization at the 903 was discovered in 1945 by Wright-Hargreaves Mines Ltd. In 1988 Lac Minerals acquired the claims covering the current 903 Zone and completed 17 drill holes totaling 4,823 metres. The property was optioned in 1990 to Jonpol and T&H Resources and subsequently returned to Lac Minerals in 1991. Northern Gold acquired the claims from a subsidiary of Barrick Gold in 2013, conducting surface exploration and six drill holes.

About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Québec and Ontario.  Osisko continues to be well financed with approximately $190 million in cash and investments as of the end of Q4 2017.

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 timing and ability (if at all) of Osisko to prepare a Preliminary Economic Assessment and initial resource estimate for the Windfall deposit; the timing and ability (if at all) of Osisko to prepare a feasibility study for the Windfall deposit; Osiskos exploration budget for 2018; the advancement of the Windfall and Lynx deposits through drilling and exploration initiatives; the expansion of the previously known mineralized zones and the discovery of the new Lynx deposit, and Wolf and Bobcat zones; continued exploration and drilling at the Windfall and Lynx deposits and any extension of the mineralized zones; the continued advancement, and rate of advancement, of the exploration ramp; the timing and ability (if at all) of Osisko to obtain permits for the exploration ramp towards Lynx; the ability of the Windfall Lake gold project to be one of the highest-grade resource stage gold projects in Canada; the significance of drill results from the ongoing drill program at the Windfall Lake gold project; the timing and ability (if at all) of Osisko to complete additional property acquisitions in Lebel-sur-Quévillon; the benefits of a potential processing plant in Lebel-sur-Quévillon; the timing and ability (if at all) of Osisko to prepare  an initial resource estimate in respect of the Osborne-Bell deposit; exploration planned at the Fox and Black Dog discoveries; proposed exploration work at the Urban Barry block; proposed exploration work on the Quévillon block; the continued fast pace of our work in 2018; our ability to sustain and add shareholder value; Osiskos ability (if at all) to develop into a mining camp; the type of drilling included in the drill program; potential mineralization; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities; 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”, “managements 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 it was made. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities to accurately predict mineralization; errors in managements geological modelling; delays in the turnaround of assay data; lack of adequate drill density; Osiskos timing and ability (if at all) to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project and Osborne-Bell gold deposit; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

For further information please contact:
John Burzynski. President and Chief Executive Officer
Telephone: (416) 363-8653

Osisko Mining Provides Quebec Exploration Update

(Toronto, February 8, 2018)  Osisko Mining Inc. (OSK:TSX) (“Osisko” or the “Corporation”) is pleased to provide an update on the progress of exploration at its 100% owned Windfall Lake, Urban Barry and Quévillon gold projects located in the Abitibi greenstone belt, Eeyou Istchee James Bay, Québec.

Osisko has been conducting new exploration and definition drilling at Windfall for 26 months, since late October 2015.  As of the end of January 2018, Osisko has completed 518,000 metres of the planned 800,000 metres to complement the pre-existing 180,000 metres drilled at Windfall by previous operators. 

The company is rapidly advancing the Windfall and Lynx deposits through a balance of resource delineation drilling and exploration drilling for extensions and new mineralized zones.  Osisko has been successful in the past two years at significantly expanding the known areas of mineralization in the Windfall system and reinterpreting the geological model of the Windfall deposit.  Drilling over the past 18 months has been directed by the evolving intrusion-related geological model, leading to the discovery of significant extensions of the previously known mineralized zones, and to the discovery of the new Lynx deposit, Wolf and Bobcat zones.

Exploration Budget for 2018:  $100M
Osisko’s 2018 exploration budget for the Windfall/Lynx deposits, Urban Barry and Quévillon project areas totals approximately $100 million.  This budget includes resource estimation work, resource-oriented drilling, exploration ramp and underground bulk sampling of known mineralized zones, metallurgical work, permitting, PEA and feasibility studies, exploration drilling proximal to Windfall and Lynx, and exploration drilling on the greater Urban Barry and Quévillon properties.

Windfall/Lynx:  Initial Resource Estimation Planned for May 2018, PEA Planned for June 2018
Osisko’s initial resource for Windfall is scheduled to be released in early May, a delay of six weeks from the previous Q1 2018 estimated completion, due to the slower than anticipated turnaround of assay data.  Osisko plans to have a Preliminary Economic Assessment completed in June 2018 for the Windfall deposit subsequent to the release of the initial resource estimate.

The main Windfall deposit and the Lynx deposit (discovered by Osisko in early 2017) remain open to the NE and at depth, and surface exploration drilling is continuing.  Newly discovered extensions of the main Windfall deposit (Caribou Extension, Zone 27 Extension, Underdog Expansion), and part of the Lynx deposit and its sub zones below 350 metres depth and further northeast of section 3750E, will not be included in the May 2018 resource estimate, due to lack of adequate drill density.  Infill drilling planned for the balance of 2018 will be focused on these areas, with the aim of including them in a planned Q1 2019 feasibility study.

The Corporation will continue significant exploration drilling at Windfall and Lynx through the balance of 2018 as it moves towards the feasibility study, and will continue drilling at the main Windfall and Lynx deposit to infill and extend the mineralized zones defined to date.

Windfall Exploration Ramp Progress
Dewatering of the historic exploration ramp was completed at the end of August 2017, and rehabilitation of the portal began in September. To date, 1,021 metres of rehabilitation have been completed. The remaining areas of the pre-existing exploration ramp are non-essential and will be rehabilitated as necessary.

The first underground blast was completed in late October (see October 27, 2017 press release). Underground infrastructure completed to date includes 45 metres of development for powder and cap magazines and 48 metres of slashes and safety bays. Three electrical substations have been installed as well as a water basin for future water treatment.

New advance towards the Main Zone commenced in late December, with 136 metres completed to date. The rate of advance is approximately 150 metres per month.  Bulk sampling in Zone 27, Caribou and Underdog is anticipated to occur in Q2 2018, Q3 2018 and Q4 2019 respectively.

Permits for the exploration ramp towards Lynx are anticipated in Q2 2018. Approximately 1,200 metres of exploration ramp extension are planned to reach Lynx.  Bulk sampling in Lynx is anticipated to occur in Q1 2019.

Property Acquisition in Lebel-sur-Quévillon
An alternatives assessment, considering environmental, technical, social and economic factors, has been completed on the location of the potential processing plant for the Windfall Project. The preferred option for the location of the potential processing plant is in the municipality of Lebel-sur-Quévillon (partially on the former Domtar site) and in the territory of Eeyou Istchee James Bay, Québec. The acquisition of approximately 560 hectares of property is expected to be finalized in Q1 2018. The proximity to a stable workforce and existing infrastructure, including power and water supply with available capacity were important components in the evaluation.

Osborne-Bell:  Initial Resource Estimation Planned for April 2018
Osisko commenced new drilling at the Osborne-Bell deposit with two rigs in early December 2017.  Re-evaluation of the approximately 200,000 metres of historical drilling results from previous operators and the addition of new information from Osisko’s drilling will be used to produce an initial resource, anticipated to be released in early April 2018.  Osborne-Bell is located approximately 20 kilometres northwest of the town of Lebel-sur-Quévillon.

Exploration Planned for Fox and Black Dog
A review of the exploration work conducted by Osisko in 2016 and 2017 at the Fox and Black Dog discoveries, within the context of the evolving geological model for the main Windfall deposit is currently under way.  New exploration drilling is planned for the two areas in H2 2018.

Exploration on the Urban Barry Block
Osisko has completed base line exploration programs on the Urban Barry block including airborne geophysics, ground geophysics, geological mapping and sampling and basal till sampling, developing a significant number of targets (over 100).  Osisko intends to include exploration drilling on priority targets developed by these base line programs in the course of 2018 work.

Exploration on the Quévillon Block
Osisko acquired the Quévillon Block in early 2017, and commenced the collection of base line exploration data including airborne geophysics, geological mapping and sampling, and basal till sampling.  The continuing work is approximately one-third complete, with several significant exploration targets already developed from both historical drilling and the new information collected.  Osisko intends to include exploration drilling on priority targets developed by these programs in the course of 2018 work.

President and CEO of Osisko John Burzynski commented: “We have been moving the Windfall project forward at a very quick pace since our first work started in late 2015.  We have added significant shareholder value through our substantial drilling and exploration programs at Windfall, with the discovery of the Lynx deposit and new previously unknown extensions of the main Windfall zones.  We plan to continue the fast pace of work on all of our projects in 2018 with over 20 active drills, and are eagerly anticipating the release of our first resource estimate for Windfall-Lynx in early May.  We will prepare a Preliminary Economic Assessment for Windfall-Lynx for June 2018 following the anticipated resource estimate, and will continue our exploration of the deposits through surface drilling and the progression of the exploration ramp, with the goal of moving to a feasibility study for Windfall in early 2019.  Property-wide exploration on our bank of existing targets will also resume in 2018, with the goal of adding new discoveries to our growing inventory of “drill bit success” at Windfall.  We will have another very busy year, with an exploration budget of approximately $100 million, and will continue to be the most active explorer in Québec in what we believe is a new developing mining camp.”

About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by the previous operator comprises 2,762,000 tonnes at 8.42 g/t Au (748.000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest-grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and down-plunge and at depth.

About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Québec and Ontario.  Osisko continues to be well financed with approximately $190 million in cash and investments as of the end of Q4 2017.

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 timing and ability (if at all) of Osisko to prepare a Preliminary Economic Assessment and initial resource estimate for the Windfall deposit; the timing and ability (if at all) of Osisko to prepare a feasibility study for the Windfall deposit; Osiskos exploration budget for 2018; the advancement of the Windfall and Lynx deposits through drilling and exploration initiatives; the expansion of the previously known mineralized zones and the discovery of the new Lynx deposit, and Wolf and Bobcat zones; continued exploration and drilling at the Windfall and Lynx deposits and any extension of the mineralized zones; the continued advancement, and rate of advancement, of the exploration ramp; the timing and ability (if at all) of Osisko to obtain permits for the exploration ramp towards Lynx; the ability of the Windfall Lake gold project to be one of the highest-grade resource stage gold projects in Canada; the significance of drill results from the ongoing drill program at the Windfall Lake gold project; the timing and ability (if at all) of Osisko to complete additional property acquisitions in Lebel-sur-Quévillon; the benefits of a potential processing plant in Lebel-sur-Quévillon; the timing and ability (if at all) of Osisko to prepare  an initial resource estimate in respect of the Osborne-Bell deposit; exploration planned at the Fox and Black Dog discoveries; proposed exploration work at the Urban Barry block; proposed exploration work on the Quévillon block; the continued fast pace of our work in 2018; our ability to sustain and add shareholder value; Osiskos ability (if at all) to develop into a mining camp; the type of drilling included in the drill program; potential mineralization; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities; 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”, “managements 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 it was made. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities to accurately predict mineralization; errors in managements geological modelling; delays in the turnaround of assay data; lack of adequate drill density; Osiskos timing and ability (if at all) to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project and Osborne-Bell gold deposit; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

For further information please contact:
John Burzynski. President and Chief Executive Officer
Telephone: (416) 363-8653

Osisko Mining Inc. Files Early Warning Report in Respect of Beaufield Resources Inc.

Toronto, Ontario (January 10, 2018) – Osisko Mining Inc. (TSX: OSK) (the “Corporation“) announces that it has filed an early warning report in respect of its holdings in Beaufield Resources Inc. (“Beaufield“). The Corporation, through its wholly-owned subsidiary O3 Investments Inc., acquired beneficial ownership of, or control and direction over, 16,923,500 common shares of Beaufield (collectively, the “Purchased Shares” and each, a “Purchased Share“) by way of a share purchase agreement transaction (and not through the facilities of the TSX Venture Exchange), representing approximately 8.2% of the issued and outstanding common shares of Beaufield (“BFD Shares“) at a price of $0.14 per BFD Share for total consideration of $2,369,290 (the “Purchase“). After giving effect to the Purchase, the Corporation, through its wholly-owned subsidiary O3 Investments Inc., acquired beneficial ownership of, or control and direction over, additional BFD Shares in an amount equal to more than 2% of the outstanding BFD Shares, thereby triggering the requirement to file an early warning report.

Prior to giving effect to the Purchase, the Corporation, through its wholly-owned subsidiary O3 Investments Inc., held beneficial ownership of, or control and direction over, 39,197,300 BFD Shares, representing approximately 18.8% of the number of issued and outstanding BFD Shares. After giving effect to the Purchase, the Corporation, through its wholly-owned subsidiary O3 Investments Inc., held beneficial ownership of, or control and direction over, 56,181,300 BFD Shares, representing approximately 27.0% of the number of issued and outstanding BFD Shares.

The Corporation, through its wholly-owned subsidiary O3 Investments Inc., acquired the Purchased Shares for investment purposes. The Corporation has no current intention of increasing or decreasing its ownership of, or control or direction over, additional securities of Beaufield. The Corporation reviews its holdings from time to time and may increase or decrease its position as future circumstances may dictate.

The Corporation completed the Purchase in reliance on the private agreement exemption in section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids (“NI 62-104“). The Corporation purchased the Purchased Shares from fewer than 5 sellers and at a price less than 115% of the market price, in each case as calculated in NI 62-104.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated January 10, 2018. The early warning report respecting the Purchase has been filed on System for Electronic Document Analysis and Review (“SEDAR“) at www.sedar.com under Beaufields issuer profile. To obtain a copy of the early warning report filed by the Corporation, please contact John Burzynski at (416) 363-8653 or refer to the SEDAR at www.sedar.com under Beaufields issuer profile.

For further information on the Corporation please contact:

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

The Corporations head office is located at 155 University Avenue, Suite 1440, Toronto, Ontario M5H 3B7.

Osisko Announces TSX Approval Of Normal Course Issuer Bid

(Toronto, December 21, 2017) Osisko Mining Inc. (TSX:OSK) (the “Corporation” or “Osisko“) today announces that the Toronto Stock Exchange (the “TSX“) has approved the Corporations notice of intention to make a normal course issuer bid (the “NCIB Program“). Under the terms of the NCIB Program, Osisko may acquire up to 15,204,587 of its common shares (“Common Shares“) from time to time in accordance with the normal course issuer bid procedures of the TSX. Any repurchases under the NCIB Program will be made in Canada through the facilities of the TSX.

Repurchases under the NCIB Program may commence on December 29, 2017 and will terminate on December 28, 2018 or on such earlier date as the NCIB Program is complete. Purchases of Common Shares under the NCIB Program will be made in Canada through the facilities of the TSX in accordance with its rules. Daily purchases will be limited to 162,895 Common Shares, other than block purchase exemptions, representing 25% of the average daily trading volume of the Common Shares on the TSX for the six month period ending November 30, 2017, being 651,581 Common Shares.

The price that the Corporation may pay for any Common Shares purchased under the NCIB Program will be the prevailing market price at the time of purchase and any Common Shares purchased by the Corporation will be cancelled.  The board of directors of Osisko believes that the underlying value of the Corporation may not be reflected in the market price of the Common Shares from time to time and that, accordingly, the purchase of Common Shares will increase the proportionate interest in the Corporation of, and be advantageous to, all remaining shareholders of the Corporation.

As of December 18, 2017, there were 207,586,907 Common Shares issued and outstanding. The 15,204,587 Common Shares that may be repurchased under the NCIB Program represent approximately 10% of the public float of the Corporation as of December 18, 2017, being 152,045,876 Common Shares.

Osisko has appointed BMO Nesbitt Burns Inc. to make any purchases under the NCIB Program on its behalf.

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Quebec and Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.

Forward-looking statements

This press release contains forward-looking statements. These forward-looking statements, by their nature, require the Corporation to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”, “continue”, or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements including the fact that the Corporation “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”, “would”, “may”, “could” or “should” occur including, without limitation, statements about the board of directors of Osiskos belief that the NCIB Program is advantageous to shareholders and that underlying value of the Corporation may not be reflected in the market price of the Common Shares, the Corporations intentions regarding the NCIB Program and whether the Corporation will receive the requisite acceptance of the TSX in respect of the NCIB Program. Although Osisko believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors and are not guarantees of future performance and actual results may accordingly differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, without limitation: fluctuations in the prices of the commodities; fluctuations in the value of the Canadian dollar relative to the U.S. dollar; regulatory changes by national and local government, including corporate law, permitting and licensing regimes and taxation policies; continued availability of capital and financing and general economic, market or business conditions; business opportunities that become available to, or are pursued by Osisko; other uninsured risks. The forward looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements 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 Osisko Mining Inc.:

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