Osisko Commences Drilling At Black Dog

(Montréal, September 29, 2016) Osisko Mining Inc. (OSK:TSX, “Osisko”) is pleased to announce that it has commenced a 15,000 metre drill program on its 100% owned Black Dog property (formerly known as the “Souart” property) situated 14 kilometres southwest of the Windfall deposit.

The drill program has been designed to test targets along the five kilometre of strike of the main structure hosting the historical Nubar showing, to investigate gold anomalies associated with the Tourmaline Hill Zone, and to expand the Barry-Souart Zone.

About the Black Dog Property
The Black Dog property was acquired by Osisko in February 2016 (as further described in the press release of Osisko dated February 3, 2016). The property is located 90 kilometres east of the town of Lebel-sur-Quevillon, Québec on the Barry-Urban greenstone belt and lies 14 kilometres southwest from the Windfall Lake gold deposit.  Black Dog hosts three known zones of mineralisation over a strike length of five kilometres:  the Nubar Zone;  Tourmaline Hill Zone;  and the Barry-Souart Zone. The Nubar Zone has estimated resources of 564,000 tonnes at 6.2 g/t Au based on historical estimates that have not been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Please see “Disclosure of Historical Estimates” below.

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

Qualified Person
The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Jean-Philippe Desrochers, Ph.D., P.Geo. Senior Project Manager of the Windfall Lake gold project, who is a “Qualified Person” as defined by NI 43-101.

About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario.  Osisko continues to be well financed and has approximately $80 million in cash and cash equivalents as well as marketable securities of approximately $60 million.

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  potential mineralization, the ability to realize upon any mineralization in a manner that is economic, the ability to complete any proposed exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Osisko, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to property interests; ability of Osisko to obtain required approvals; ability of Osisko to complete further exploration activities, including drilling; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

For further information please contact:

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

Osisko Intersects 14.9 g/t Au Over 7.7 Metres At Garrison

New Intercept Located 200 Metres Below Known Jonpol Deposit

(Montréal, September 28, 2016). Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Garrison gold project located in Garrison Township, Ontario.  The current 20,000 metre drill program at Garrison is designed to further test the limits of the known Jonpol and Garrcon gold deposits. Three drills are currently active on site.  A total of 6 new drill holes are reported in this release, and are presented in greater detail in the table below.

Significant new results include:  14.9 g/t Au over 7.7 metres (uncut) in DDH OSK-G16-300 (8.70 g/t Au over 7.7 metres cut); and 1.02 g/t Au over 63.3 metres in DDH OSK-G16-296.

The drill program initiated by Osisko at the Garrison Project is designed to increase confidence in the historical resource estimates on the Jonpol and Garrcon deposits, as well as exploring for possible extensions of the known mineralized zones.  The current results demonstrate there is good potential to increase the known mineral inventory at Jonpol through continued definition and exploratory drilling, specifically in the depth extensions of the main deposit.  Historic drilling at Jonpol was limited to areas from surface to 600 metres depth with much of the drilling targeting above 350 metres depth.  Hole OSK-G16-300 represents a mineralized extension of the deposit 200 metres below the current historical resource area.    

Details of significant new results are outlined in the table below:

Hole From
(m)
To
(m)
Interval Au Zone
(m) (g/t)
OSK-G16-295 57.00 58.00 1.00 14.8 Green Zone
  256.00 257.00 1.00 4.18 Garrcon
  280.50 281.50 1.00 6.80 Garrcon
  780.00 781.00 1.00 10.7 Garrcon
OSK-G16-296 89.70 153.00 63.30 1.13 Garrcon
including 137.00 147.00 10.00 2.37
OSK-G16-300 189.00 189.50 0.50 25.70 Garrcon
  240.00 241.00 1.00 4.13 Garrcon
  778.30 786.00 7.70 14.9 Jonpol
including 781.00 781.50 0.50 195
cut to 100 g/t 778.30 786.00 7.70 8.70

Notes:
(1) For complete drilling results please see www.osiskomining.com.
(2) True widths are estimated at 65-80% of the reported core length interval. See “Quality Control” below.
(3) High grade values cut to 100 g/t Au

Drill Hole Collar Coordinates and Information:

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Section
OSK-G16-295 160 -60 906 578550 5374213 1200W
OSK-G16-296 340 -55 1218 578595 5373815 1300W
OSK-G16-297 340 -50 600 577900 5373960 1900W
OSK-G16-298 340 -60 696 577695 5373935 2100W
OSK-G16-299 160 -60 795 579415 5374618 250W
OSK-G16-300 340 -55 822 578350 5373900 1500W

DDH OSK-G16-295 intersected 14.8 g/t Au over 1.0 metres, 50 metres from surface within the Green Zone horizon within the hangingwall of the Munro Shear Zone as well as three mineralized intervals below the Garrcon Deep zone resource with up to 10.7 g/t Au over 1.0 metres. This new intercept is approximately 100 metres south of the existing deep resource.

DDH OSK-G16-296 intersected a broad zone of mineralization along the western portion of the current Garrcon resource grading 1.02 g/t Au over 63.3 metres including 2.37g/t over 10.0 metres

DDH OSK-G16-300 intersected a series of well mineralized albite zones within the Munro Shear approximately 200 metres below the existing drilling in the Jonpol Deposit East Zone. An interval of 14.9 g/t Au over 7.7 metres including 195 g/t Au over was 0.5 metres intersected approximately 200 metres below the existing Jonpol resource. This hole demonstrates the possibility of increasing the resources within the Jonpol deposit at depth. 

DDH OSK-G16-297,OSK-G16-298, and OSK-G16-299 did not return significant results.  

Full analytical results from the 6 new drill holes are available at www.osiskomining.com.

Qualified Person
The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Greg Matheson, P.Geo. Senior Project Manager of the Garrison gold project, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Quality Control
True widths of the new exploration intercepts reported in this press release have yet to be determined. Additional drilling is planned for the immediate area which will enable the true width determination. Assays are uncut except where indicated. All HQ core assays reported were obtained by either whole sample rock metallic screen/fire assay or standard 30 gram fire-assaying with AA finish at SGS Mineral Services in Cochrane, Ontario. The whole sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 4g/t. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

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

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

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

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

Garrcon Deposit

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

The Garrcon shaft was sunk in 1935 and 1936 by the Consolidated Mining and Smelting Co. of Canada (“Cominco”) and the Shaft and South Zones were tested for high grade gold mineralization. Cominco drove approximately 1,430 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 3,516.3 oz at an average head grade of 1.55 g/t and recovery of 95.9%. The trial production permit remains active.

Jonpol Deposit

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

In 1997, a 49,087 tonne bulk sample 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 meter shaft as well as development of a ramp to the 150 meter level with mining on six sublevels. The Jonpol infrastructure underwent reclamation in the late 1990s and was closed out in 2001, but the existing ramp and shaft are preserved.

About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $50 million in cash and cash equivalents as well as marketable securities of approximately $60 million.

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 potential for significant new mineralization near the Garrison mineral inventory; specifically increases in resource confidence within the western portion of the Garrcon zone; well mineralized “albite” zones within the Jonpol Deposit; the new intercept located below the known Jonpol deposit;the ability of the exploration team to continue intersecting new extensions and to define new parallel mineralized zones; pending transactions and any interests and options of the Corporation; any potential mineralization; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed drilling or exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of 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 quality of drilling results; the ability of drill results to forecast actual mineralization; property interests; our ability to obtain required approvals, complete definitive documentation and complete transactions on the terms announced, ability of Osisko to complete further exploration activities, including drilling; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

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

Osisko Mining Completes $32.3 Million Private Placement Of Common Shares

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

(Montréal, Québec – September 27, 2016).  Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation“) is pleased to announce, further to its press release dated September 9, 2016, that the Corporation has completed a “bought deal” private placement financing of 11,750,000 common shares of the Corporation (“Common Shares“) at a price of $2.75 per Common Share for total gross proceeds of $32,312,500 (the “Offering“). The Offering includes the issuance by the Corporation of 1,750,000 Common Shares pursuant to the exercise in full of the option granted to the underwriters. The Offering was underwritten by a syndicate of underwriters led by BMO Capital Markets.

The Corporation intends to use the net proceeds of the offering to continue exploration and development of the Windfall Lake gold project and for general corporate purposes.

The Common Shares issued under the Offering are subject to a four-month hold period from the date of issuance of the Common Shares under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.  The listing of the Common Shares remains subject to the final listing approval of the Toronto Stock Exchange.

The securities offered will not be and 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% interest in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $80 million in cash and cash equivalents (after giving effect to the Offering) as well as marketable securities of approximately $55 million.

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 completion of the Offering, the timing and ability of the Corporation to complete the formal documentation and obtain the final approvals required to complete the Offering, the intended use by the Corporation of the gross proceeds of the Offering, and any other information herein that is not a historical fact may be “forward looking information”. Any statement that involves discussions with respect to predictions, expectations, 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 completion of the Offering; the timing and ability of the Corporation to complete the formal documentation and obtain the final approvals required to complete the Offering; the intended use by the Corporation of the gross proceeds of the Offering; risks relating to property interests; the global economic climate; metal prices; dilution; ability of Osisko to complete further acquisitions; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

For further information please contact:

John Burzynski
President & CEO
Telephone: (416) 363-8653

Osisko Intersects 391 g/t Au Over 3.1 Metres At Windfall

Caribou Zone Mineralized Corridor Extended by 230 metres to ENE
15.9 g/t Au over 8.9 Metres in FW3 Zone Extension at Depth
8.5 g/t Au over 4.7 Metres in New Wolf 2 Zone
28.1 g/t Au over 2.5 Metres in New FW0 Zone

(Montréal, September 19, 2016). Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Québec. The current drill program is being expanded to 150,000 metres, and combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog and exploration drilling on the greater deposit and overall property area. Six drills are currently on site, and an additional four drills will be added to the program in the coming months. A total of 5 new drill holes are reported in this release, and are presented in greater detail in the table below.

Significant new results include:  391 g/t Au over 3.1 metres (uncut) in DDH OSK-W-16-728 (14.7 g/t Au over 3.1 metres cut);  15.9 g/t Au over 8.9 metres in DDH OSK-W-16-706-W1; 10.6 g/t Au over 10.9 metres in DDH OSK-W-16-706-W1; and 5.75 g/t Au over 16.5 metres in DDH OSK-W-16-706-W1.

The new results demonstrate the high potential for significant new mineralization near the known Windfall mineral inventory through continued definition and exploratory drilling, specifically in the eastern extension of the deposit and below the Red Dog intrusion.

The main mineralized zones are hosted within three broad corridors of mineralization trending WSW – ENE. Moving south to north across the Windfall deposit these three corridors are:

  • the Caribou Corridor (includes the Caribou Zone, Wolf Zone and the new “Wolf 2” Zone);
     
  • the Zone 27 Corridor; and
     
  • the “Underdog” Corridor (newly renamed, previously known as the FW series corridor) hosting all zones below the Red Dog dike and includes the newly reported “FW0” Zone; FW1 Zone; FW2 Zone; FW3 Zone; and FW4 Zone).

The primary corridors of mineralization are depicted in diagrams available on Osiskos website at www.osiskomining.com.

Highlights of Current Results

  • Caribou Zone mineralized corridor has been extended by 230 metres farther than previously known to the ENE;  the partial results from hole DDH OSK-W-16-728 indicate the main deposit continues to host strong mineralization with a new high-grade intercept in Caribou Corridor; results for Zone 27 Corridor and Underdog Corridor are pending
     
  • FW3 Zone expanded 50 metres down dip; new “FW0 Zone” defined in Underdog Corridor; new “Wolf 2 Zone” defined in Caribou Corridor
     
  • Drill program expanded to 150,000 metres, current 6 drill rigs increasing to 10;  aggressive 200 metre, 400 metre and 600 metre step out drilling from eastern limit of known mineralization is planned to pursue the main deposit to the ENE

Details of significant new results are outlined in the table below:

Hole From
(m)
To
(m)
Interval Au Zone Corridor
(m) (g/t)
OSK-W-16-309-W2 972 975 3.0 5.58 New Underdog
OSK-W-16-706-W1 546.5 563 16.5 5.75 Caribou South 1 Caribou
Including 549.2 549.5 0.3 222 Caribou South 1 Caribou
 cut to 100 g/t Au 546.5 563 16.5 3.53 Caribou South 1 Caribou
OSK-W-16-706-W1 818.8 821.3 2.5 28.1 FW0 Underdog
OSK-W-16-706-W1 981.1 992 10.9 10.6 FW2  
Including 981.9 983.7 1.8 24.0 Underdog
including 988.50 992.00 3.5 19.4  
OSK-W-16-706-W1 1007.00 1012.00 5.0 7.1 FW2 Underdog
including 1008.00 1010.00 2.0 13.8  
OSK-W-16-706-W1 1022.0 1024.3 2.3 18.6 FW2 Underdog
including 1022.9 1023.7 0.8 49.9  
OSK-W-16-706-W1 1033 1041.9 8.9 15.9(3) FW3  
including 1033.5 1034.3 0.8 93.6 Underdog
including 1041 1041.4 0.4 117  
OSK-W-16-706-W1 1073.1 1077 3.9 8.74 FW4 Underdog
OSK-W-16-718 570.5 575.2 4.7 8.50  Wolf 2 Caribou
OSK-W-16-718 735.3 737.9 2.6 4.78 Wolf Caribou
OSK-W-16-722 53.00 55.00 2.0 6.08 New New
including 53.00 54.00 1.0 12.0  
OSK-W-16-728 478.1 481.2 3.1 391 Caribou Caribou
Including 478.1 478.5 0.4 3020 Caribou Caribou
 cut to 100 g/t Au 478.1 481.2 3.1 14.7(3) Caribou Caribou

Notes:
(1) For complete drilling results please see www.osiskomining.com.
(2) True widths are estimated at 65-80% of the reported core length interval. See “Quality Control” below.
(3) High grade values cut to 100 g/t Au

Drill Hole Collar Coordinates and Information:

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Section
OSK-W-16-309-W2 325.8 -63.2 1111.0 452548 5434514 2575
OSK-W-16-706-W1 329.6 -58.4 1276.5 452610 5434420 2525
OSK-W-16-718 332.1 -60.5 799.5 452742 5434575 2775
OSK-W-16-722 330 -60 774.8 452795 5434813 2925
OSK-W-16-728 330.8 -65.2 1460 453054 5434890 3200

President and Chief Executive Officer John Burzynski noted:  “In recent weeks, our corporate and exploration focus has turned solidly to the Windfall project. Results coming from the current drill program have centered our attention on the growing potential for Windfall to be our “company maker” deposit. We are increasing the scale of our drill program for the second time in the past 3 months, and are planning on adding another four drills and 50,000 metres of drilling. The exploration team is having increasing success at intersecting new extensions of the currently known zones, and have also successfully begun to define new parallel mineralized zones like the recently announced Wolf Zone within the primary mineralized corridors. All indications at this point are leading us to believe that we will continue to expand the main deposit as we advance drilling, particularly to the ENE and at depth. The results outlined in todays press release define significant extensions and additions to the main mineralization at Windfall, and have added a new emphasis on exploring the main deposit to follow the currently known mineralized corridors in the ENE direction to try to find the center of gravity of the deposit.”

DDH OSK-W-16-309-W2 intersected 5.58 g/t Au over 3.0 meters, 60 metres to the northwest of FW3. This new intercept correlates with 4.3 g/t Au over 2.1 metres in previously reported hole EAG-13-320-W1 located 60 metres below.

DDH OSK-W-16-706-W1 confirmed a new zone (“FW0 Zone”) located 50 metres to the SE of FW1 with an intercept of 28.1 g/t Au over 2.5 metres in an altered porphyry dyke with 1% pyrite stringers. The FW0 Zone is currently modelled for over 300 metres along strike and 100 metres vertical, and remains open along strike and at depth. The previously reported intercepts interpreted to be part of the FW0 Zone include 11.2 g/t Au over 3.4 metres in DDH OBM-16-614, 7.49 g/t Au over 7.0 metres in DDH OBM-15-564, and 12.5 g/t Au over 2.0 metres in OBM-15-560.

Three additional zones currently interpreted to represent elements of the FW2 Zone were intersected between FW1 and FW3, respectively returning: 10.6 g/t Au over 10.9 metres (hosted in a strongly silicified porphyry dyke containing 2-5% pyrite stringers with traces of sphalerite and specks of visible gold);  7.1 g/t Au over 5.0 metres and 18.6 g/t Au over 2.3 metres (both hosted in a porphyry dyke containing 2-3% pyrite stringers and traces of chalcopyrite).

This hole also expanded the FW3 Zone by 50 metres down dip, returning 15.9 g/t Au over 8.9 metres hosted in a porphyry dyke containing 2-3% pyrite stringers with traces of chalcopyrite and several specks of visible gold.

Additionally, the hole intersected gold mineralization below FW3 (currently interpreted as FW4 Zone), returning 8.74 g/t Au over 3.9 metres.

DDH OSK-W-16-718 extended the newly discovered Wolf Zone by 26 metres vertically with an intercept of 4.78 g/t Au over 2.6 metres located above previously reported DDH OBM-15-559 which returned 7.0 g/t Au over 10.0 metres. This drill hole also confirmed a new zone (“Wolf 2 Zone”) located between the Caribou S-3 Zone and the recently discovered Wolf Zone with 8.5 g/t Au over 4.7 metres. Wolf 2 Zone extends for more than 130 metres laterally and is open in its up-dip extension;  it now includes previously reported intercepts of 9.09 g/t Au over 5.2 metres in DDH EAG-12-448, 3.25 g/t Au over 2.4 metres in DDH OSK-16-708-W1, and 3.33 g/t Au over 1.2 metres in DDH EAG-13-504.

DDH OSK-W-16-722 intersected new near surface gold mineralization returning 6.08 g/t Au over 2.1 metres at the contact of a porphyry dyke. This intersection correlates with a previously reported intersection of 5.23 g/t Au over 2.0 metres in DDH EAG-13-497 located 63 metres below and to the SW.

DDH OSK-W-16-728 intersected 391.43 g/t Au over 3.1 metres, (14.65 g/t Au over 3.1 metres cut to 100 g/t Au), including 3,020 g/t Au over 0.4 metres along the projected Caribou Zone. This drill hole is a 440 metre step-out to the ENE of the current mineral resource and is located 230 metres from the nearest known mineralization in previously reported DDH OBM-16-580 which returned 4.3 g/t Au over 5.4 metres.

Full analytical results from the 5 new drill holes are available at www.osiskomining.com

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

Quality Control
True widths of the new exploration intercepts reported in this press release have yet to be determined. Additional drilling is planned for the immediate area which will enable the true width determination. Assays are uncut except where indicated. All NQ core assays reported were obtained by either 1 kg whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val dOr, Québec or Sudbury, Ontario. The 1 kg metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analysed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, 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 (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $50 million in cash and cash equivalents as well as marketable securities of approximately $60 million.

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 potential for significant new mineralization near the Windfall mineral inventory; continued definition and exploratory drilling (specifically in the eastern extension of the deposit and below the Red Dog intrusion); strong mineralization in the Caribou Zone; the extension of the Caribou Zone mineralized corridor; the expansion of the FW3 Zone; the expansion of the drill program at Windfall Lake (including the number of drills and meters of drilling); the potential for Windfall to be a “company maker” deposit for the Corporation; the ability of the exploration team to continue intersecting new extensions and to define new parallel mineralized zones; pending transactions and any interests and options of the Corporation; any potential mineralization; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed drilling or exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of 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 quality of drilling results; the ability of drill results to forecast actual mineralization; property interests; our ability to obtain required approvals, complete definitive documentation and complete transactions on the terms announced, ability of Osisko to complete further exploration activities, including drilling; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

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

Osisko Mining Inc. Announces C$27.5 Million Bought Deal Financing

Not for distribution to U.S. news wire services or dissemination in the United States.

Toronto, Ontario – (September 9, 2016) – Osisko Mining Inc. (TSX: OSK) (“Osisko” or the “Corporation”) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis by way of private placement, 10,000,000 common shares (the “Common Shares”) of the Corporation, at a price of C$2.75 per Common Share for gross proceeds of C$27.5 million. In addition, the Corporation has also granted the underwriters an option, exercisable up to 48 hours prior to the closing of the offering, to purchase up to an additional 15% of the number of Common Shares purchased pursuant to the offering.

The Corporation intends to use the net proceeds of the offering to continue exploration and development of the Windfall Lake gold project and for general corporate purposes.

The offering is expected to close on or about September 27, 2016 and is subject to Osisko receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.

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 Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property.

The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $50 million in cash and cash equivalents as well as marketable securities of approximately $60 million.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. The information in this news release about pending transactions, potential mineralization, the ability to realize upon any mineralization in a manner that is economic, the ability to complete any proposed exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Osisko, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to property interests; ability to obtain required approvals, complete definitive documentation and complete transactions on the terms announced, ability of Osisko to complete further exploration activities, including drilling; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

For further information, please contact:

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