Osisko Completes Acquisition Of Land Package Near Lebel-Sur-Quévillon, Québec

(Montréal, April 27, 2017). Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce, further to its announcement on March 15, 2017, that it has acquired an additional land package in the area of Lebel-sur-Quévillon, Québec (the “Additional Quévillon Claims”) from Deloitte Restructuring Inc., acting as trustee in bankruptcy for the assets, undertakings and properties of  Maudore Minerals Ltd. With the acquisition of the Additional Quévillon Claims, Osisko now holds a total of 4,150 claims covering a 216,000 hectare (2,160 square kilometres) land package (the “Quévillon Project”).

The Quévillon Project includes approximately 30 known gold showings as well as the historical Osbell gold deposit, which is located 17 kilometres northwest of the town of Lebel-sur-Quévillon and 112 kilometres west of the Windfall Lake gold deposit. The Osbell deposit has been the object of significant historical drilling over the past fifteen years, and will be the focus of new drilling and resource re-evaluation by Osisko.

Osisko acquired the Additional Quévillon Claims in exchange for $1 million in cash and 100,000 common shares of the Corporation payable to FBC Holdings SARL, the secured creditor over the Additional Quévillon Claims. The listing of the common shares of the Corporation to FBC Holdings SARL remains subject to the final approval of the Toronto Stock Exchange, and such shares will be subject to a hold period expiring four months and one day from the date hereof.

Qualified Person
The scientific and technical content of this press release has been reviewed by Mr. Robert Wares, P.Geo. Executive Vice President Exploration for Osisko Mining Inc., a “qualified person” as defined by National Instruments 43-101 – Standards of Disclosure for Mineral Projects.

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 with approximately $195 million in cash and investments (after giving effect to the closing of the offering announced earlier today by the Corporation).

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 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, 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 timing and ability, if at all, to transfer the Additional Quévillon Claims to Osisko; the timing and ability, if at all, to obtain final listing approval of the Toronto Stock Exchange for the issuance of 100,000 common shares of the Corporation to FBC Holdings SARL; the potential, if any, of the Additional Quévillon Claims; the prospectivity and potential of the regional land package in the area of Lebel-sur-Quévillon, Québec; the Additional Quévillon Claims being a high-potential gold target in the immediate area of the historical Osbell deposit; the ability of Osisko to complete further exploration activities, including drilling; property interests in Québec; 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.

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

Osisko Mining Completes $5 Million Financing Of Flow-Through Shares For Ontario Exploration Properties

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

(Toronto, April 27, 2017) Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce, further to its announcements on April 18, 2017, that the Corporation has completed a private placement financing of 700,000 flow-through common shares of the Corporation (the “Flow-Through Shares”) at a price of $7.15 per Flow-Through Share, for aggregate gross proceeds of $5,005,000 (the “Offering”). The Offering was underwritten by Canaccord Genuity Corp. and Eight Capital, as co-lead underwriters.

The Corporation intends to use the gross proceeds of the Offering to fund “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to Osiskos projects in the Province of Ontario, specifically the Jonpol and Garrcon deposits on the Garrison property located in the Larder Lake Mining Division in northeast Ontario.

All securities issued under the Offering will be subject to a hold period expiring four months and one day from the date hereof. 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 with approximately $195 million in cash and investments (after giving effect to the Offering).

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 timing and ability of the Corporation to complete the formal documentation and obtain the final listing approval of the Toronto Stock Exchange, if at all; the use of the gross proceeds from the Offering; that the gross proceeds of the Offering will be used for “Canadian exploration expenses” (as defined in subsection 66.1(6) of the Income Tax Act (Canada)) related to Osiskos project in the Province of Ontario, specifically the Jonpol and Garrcon deposits on the Garrison property located in the Larder Lake Mining Division in northeast Ontario; that all such “Canadian exploration expenses” will be renounced with an effective date no later than December 31, 2017; 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, including the final approval of Toronto Stock Exchange; 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; 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
Osisko Mining Inc.
Telephone: (416) 363-8653

Osisko Intersects 35.2 g/t Au Over 2.8 Metres At Windfall

New High Grade Intercepts in Lynx Discovery

(Montréal, April 25, 2017)  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 400,000 metres drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area.  Significant new analytical results from eight drill holes focused on infill and expansion drilling in the Lynx discovery as well as the Caribou, Underdog and the 27 zones are reported in the table below.

Highlights from the new results include:  35.2 g/t Au over 2.8 metres in hole OSK-W-17-800; 10.5 g/t Au over 8.6 metres in hole OSK-W-17-790; 18.6 g/t Au over 4.1 metres in hole OSK-W-17-812 and 11.0 g/t Au over 3.5 metres in hole OSK-W-17-89-W1.  Maps showing drill hole locations and full analytical results are available at www.osiskomining.com.

Hole No. From (m) To (m) Interval (m) Au (g/t) Au (g/t)  cut to 100 g/t Zone Corridor
OSK-W-17-790 293.0 295.0 2.0 8.61   Lynx 2 Lynx
  303.8 308.8 5.0 6.00   Lynx 2 Lynx
  316.9 325.5 8.6 10.5 10.3 Lynx 2 Lynx
including 324.8 325.5 0.7 102 100    
  392.5 394.7 2.2 10.9   VNCR Lynx 
OSK-W-17-800 193.6 196.0 2.4 16.5   Lynx 1 Lynx
including 194.1 195.0 0.9 40.4    
  306.0 308.8 2.8 35.2 25.4 VNCR Lynx
including 306.5 307.2 0.7 139  100  
OSK-W-17-811 152.5 156.0 3.5 3.01   Lynx 1 Lynx
OSK-W-17-812 304.8 308.9 4.1 18.6 12.5 Lynx 2 Lynx
including 304.8 305.1 0.3 59.7    
including 307.3 307.6 0.3 184  100  
OSK-W-17-804 83.9 86.6 2.7 3.65   27 Zone 27
including 86.3 86.6 0.3 27.4    
OSK-W-17-810 93.1 98.0 4.9 7.25   HW Zone 27
including 93.8 95.7 1.9 16.4    
  108.7 111.0 2.3 6.54   27 Zone 27
including 109.2 110.2 1.0 14.9    
OSK-W-17-789 964.0 966.3 2.3 8.20   FW3 Underdog
including 965.0 965.3 0.3 61.7    
OSK-W-17-789-W1 799.5 804.4 4.9 5.63   FW0 Underdog
including 801.9 802.5 0.6 20.4    
  877.1 880.6 3.5 11.0     Underdog 

Notes:

  1. True Widths for Caribou and Underdog Corridors are estimated at 65 – 80% of the reported core length interval.  True widths in the Lynx Zone are yet to be determined.  See “Quality Control” below.
  2. Definitions:  HW = hanging wall; VNCR = crustiform vein. 
Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Section
OSK-W-17-789 331 -58 1279.5 452546 5434390 2500
OSK-W-17-789-W1 331 -58 1198.5 452546 5434390 2500
OSK-W-17-790 332 -64 451.5 453456 5434998 3600
OSK-W-17-800 330 -58 415.5 453366 5434943 3500
OSK-W-17-804 343 -43 201.0 451941 5434625 2100
OSK-W-17-810 335 -59 225.0 451949 5434615 2100
OSK-W-17-811 150 -75 433.5 453469 5435216 3725
OSK-W-17-812 330 -65 379.2 453461 5435034 3625

Lynx Corridor

OSK-W-17-790 intersected Lynx 2 in three intervals approximately 40 metres above and 40 metres to the SW of previously reported OSK-W-17-799 (63.8 g/t Au over 4.4 metres). The first two intervals returned 4.62 g/t Au over 4.3 metres and 6.00 g/t Au over 5.0 metres respectively. Mineralization consists of silicified pyrite-rich bands hosted in a sericitized rhyolite. The third interval returned 10.52 g/t Au over 8.6 metres, including 102 g/t Au over 0.7 metres.  Mineralization consists of 3-5% pyrite stringers.  An interval containing crustiform veins was also intersected which returned 10.9 g/t Au over 2.2 metres in stringers containing up to 3% pyrite.

OSK-W-17-800 returned 16.5 g/t Au over 2.4 metres including 40.4 g/t Au over 0.9 metres from Lynx 1.  Gold mineralization is associated with 5-7% pyrite stringers and strong silica flooding with local visible gold.  This interval is located between two previously reported intersections, OSK-W-17-803 (19.1 g/t Au over 2.9 metres) 51 metres SW up plunge, and 60 metres down plunge NE of OSK-W-16-760 (95.3 g/t Au over 9.0 metres).  A second intercept returned 35.2 g/t Au over 2.8 metres (25.4 g/t Au over 2.8 metres cut to 100 g/t) from a smoky quartz vein containing local visible gold.  The vein is hosted in a tourmaline breccia containing 2-3% of pyrite stringers.  This interval is located 48 metres to the NE of previously reported OSK-W-17-779 (21.6 g/t Au over 7.9 metres).

OSK-W-17-811 intersected shallow mineralization returning 3.01 g/t Au over 3.5 metres hosted in a brecciated rhyolite containing 4% of pyrite stringers.  The interval is located in the extension of Lynx1, 125 metres above and 120 metres NE from OSK-W-17-790 (reported above).

OSK-W-17-812 intersected 18.6 g/t Au over 4.1 metres including 59.7 g/t Au over 0.3 metres and 184 g/t Au over 0.3 metres.  The hole intersected moderately silicified porphyry containing 3-4% disseminated pyrite, with local visible gold observed in smoky quartz veins.

Zone 27 Corridor

OSK-W-17-804 returned 3.65 g/t Au over 2.7 metres including 27.4 g/t Au over 0.3 metres.  Mineralization is associated with a sulfide vein containing 80% pyrite and local visible gold.
OSK-W-17-810 intersected two mineralized intercepts, one in the hanging wall of Zone 27 which returned 7.25 g/t Au over 4.9 metres, with 3% pyrite stringers;  the second intercept returned 6.54 g/t Au over 2.3 metres including 14.9 g/t Au over 1 metre.

Underdog Corridor

OSK-W-17-789 intersected two zones, the first returning 3.01 g/t Au over 3.1 metres in FW0 with mineralization consisting of 2% of pyrite stringers associated with moderate silica and sericite alteration; the second intersection returning 8.20 g/t Au over 2.3 metres in FW3 from a quartz vein containing local visible gold hosted in a moderate to strongly bleached porphyry dike.

OSK-W-17-789-W1 intersected two zones of mineralization, the first returning 5.63 g/t Au over 4.9 metres and extending FW0 45 metres SW from previous intersection EAG-12-320 (7.3 g/t Au over 3.1 meters), with 2% pyrite stringers and 4% disseminated pyrite hosted in a moderately bleached fragmental dike; the second intersection returned 5.69 g/t Au over 8.20 metres from FW1 containing 5 – 25% pyrite stringers hosted in a silicified porphyry dike.

Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, P.Geo. (OGQ 800), Project Manager of Osisko at 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 and Reporting Protocols
True width determinations in the Caribou and Underdog zones are estimated at 65 – 80% true core lengths.  True width determinations in the Lynx Zone have yet to be determined.  Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram 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 kilogram 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 analyzed 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 Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control 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 with approximately $190 million in cash and investments.

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project; new analytics from the eight drill holes focused on infill and expansion drilling in the Lynx Zone discovery as well as the Caribou, Underdog and the 27 zones reported in this news release; the significance of assay results presented in this news release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “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, 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 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:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653

Osisko Identifies Potential Location For Future Mill Near Lebel-Sur-Quévillon, Québec

(Montréal, April 12, 2017). Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce that it has identified a site (the “Site”) covering approximately four square kilometres for the potential construction of a mill complex that would process mineralized material from the Windfall Lake deposit.  The Site is located near an existing industrial property (the former Domtar Corporation pulp and paper mill) in Lebel-sur-Quévillon, Québec.  A location map of the Site is provided at www.osiskomining.com.

Osisko intends to evaluate the Site location through the environmental assessment process and in the preparation of a feasibility study for the Windfall Lake gold project. The Site is located 11 kilometres from Lebel-sur-Quévillon and 103 kilometres via existing all-weather gravel road networks from the Windfall Lake deposit, and is adjacent to a Hydro?Québec electric substation and a water pumping station.  The Site is located on Crown land immediately southeast of the municipal limit of Lebel-sur-Quévillon.  Osisko holds the mineral exploration titles under the Site.

As part of the ongoing evaluation of the Windfall Lake deposit, Osisko plans to file the Project Description with the federal government (Canadian Environmental Assessment Agency) and the Project Notice with the Québec government (Ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques) in the coming week.

Subject to the results of the full environmental assessment and feasibility study to be completed, the Corporation believes advantages of this Site over construction at Windfall Lake include:

  • limiting Windfall Lake infrastructure to mining activity, greatly reducing the environmental footprint;
  • access to existing grid power and the Hydro-Québec electrical substation at the Site, eliminating the construction cost of a 103 kilometre power line to Windfall Lake and the corresponding environmental permitting along the power corridor;
  • access to the existing water pumping station near the adjacent dormant pulp and paper mill, which has ample capacity for the needs of a potential gold milling complex;
  • access to the regional work force centered at Lebel-sur-Quévillon, reducing the need for a large construction and operations camp at Windfall Lake, as well as a reduced rotational work force;
  • cost savings on transportation and construction/operations logistics from existing rail and road access to Lebel-sur-Quévillon, which is expected to offset the cost of transportation of mineralized material from the mine over the existing 103 kilometres of road networks;  and
  • the location of the Site positively affecting the economics of gold deposits within trucking distance of Lebel-sur-Quévillon.   

John Burzynski, President and CEO of Osisko commented:  “Identifying this site near Lebel-sur-Quévillon dynamically changes the way we are evaluating the potential infrastructure for Windfall, including the mill complex, personnel accommodations, administration buildings and tailings management facility.  Lebel-sur-Quévillon appears to have many strong advantages over Windfall and we believe the potential savings to both capex and opex would be significant.” 

The Corporation is currently evaluating the Windfall Lake gold project as a potential underground mining operation.  Osisko is well-funded with approximately $190 million in cash and equity investments, and is carrying out an intensive definition drilling and large-scale exploration campaign on Windfall and the surrounding area.  An updated NI 43-101 resource estimate on the Windfall Lake project is planned for release in the second half of 2017.  Osisko has commenced collection of environmental baseline data in the vicinity of Windfall and intends to collect additional data along the potential haul road and around the proposed Site.

The Quévillon exploration property acquisitions and agreement recently announced (see Osisko press releases dated March 6, 2017 and March 15, 2017) include approximately thirty known gold showings as well as the Osborne-Bell gold deposit, which is located 32 kilometres northwest of the proposed Site. The Osborne-Bell deposit has been the object of significant historical drilling over the past fifteen years, and will be the focus of new drilling and resource re-evaluation by Osisko in 2017.

Mr. Burzynski continued:  “Over the past 14 years, the Osisko team has always been innovative.  The world-class Canadian Malartic mine was discovered, defined, financed, built and put in production, from first drill hole to first gold pour, in a little over six years, a remarkable achievement for our team.  We are highly encouraged by the potential at Windfall and the potential of the region.  With the possibility of centralizing a new milling complex at Lebel-sur-Quévillon, we believe we may be opening up the region to a new generation of Québec mines, and at the same time securing Osiskos position as a new Canadian intermediate mining house.”

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 and Lebel-sur-Quévillon areas, a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in Ontario, including the Jonpol and Garrcon deposits on the Garrison property. Osisko continues to be well financed with approximately $190 million in cash and investments.  Osisko Gold Royalties Ltd. (OR:TSX / NYSE) is a significant shareholder of the Corporation with approximately 14% ownership.

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 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, 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 feasibility of the Site as a potential mill complex to process mineralized material (if any) from the Windfall Lake gold deposit; the timing and ability to evaluate, if at all, the Site location through the environmental assessment process and to prepare, if at all, feasibility studies for the Windfall Lake gold project; the Site being located on Crown land; the timing and ability, if at all, to file the Project Description with the federal government (Canadian Environmental Assessment Agency) and the Project Notice with the provincial government (Ministère du Développement durable, de lEnvironnement et de la Lutte contre les changements climatiques); the advantages, if any, of the Site over construction at Windfall Lake (including, limiting infrastructure at Windfall Lake to mining activities, greatly reducing the environmental footprint; access to existing grid power and the Hydro-Québec electrical substation at the Site, eliminating the construction cost of a 103 kilometre power line to Windfall Lake and the corresponding environmental disturbance along the power corridor;access to the existing water pumping station near the adjacent dormant pulp and paper mill; the existing water pumping station having capacity for the needs of a potential gold milling complex; access to the regional work force centered at Lebel-sur-Quévillon, reducing the need for a large construction and operations camp at Windfall Lake, as well as a reduced rotational work force; cost savings on transportation and construction/operations logistics from existing rail and road access to Lebel-sur-Quévillon, which would offset the cost of transportation of mineralized material from the mine over the existing 103 kilometres of road networks; and the location of the Site positively affecting the economics of gold deposits within trucking distance of Lebel-sur-Quévillon); advantages of Lebel-sur-Quévillon including potential significant savings to capex and opex; the feasibility of underground mining operations at the Windfall Lake gold project; the intensive definition drilling and large-scale exploration campaign at the Windfall Lake gold project and surrounding area; the timing and ability if at all, to prepare a technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects in respect of a resource estimate on the Windfall Lake gold project; the use of environmental baseline data; the potential of the Site to be a future mill complex, administration center and tailings management facility for the Windfall Lake project; the feasibility of ore to be trucked from the deposit to the mill complex, including the use of the existing road network with minimal upgrading; the ability of this initiative to positively affect the economics of gold deposits within trucking distance of the proposed Site; the Osborne-Bell gold deposit being the focus of new drilling and resource re-evaluation by Osisko in 2017; the ability of the Corporation to complete the exploration property acquisitions announced on March 6, 2017 and March 15, 2017; the timing and ability, if at all, of Osisko to acquire ownership over the additional package in the Lebel-sur-Quévillon area of Québec; potential of the new milling complex at Lebel-sur-Quévillon, to open up the region to a generation of new Quebec mines; the ability of the Osisko team to repeat prior successes with the Windfall Lake gold project; Osiskos position as a new Canadian intermediate mining house; the regional land package of Osisko comprising the Quévillon Project; the Quévillon Project being a high-potential gold target in the immediate area of the historical Osborne-Bell deposit; the ability of Osisko to complete further exploration activities; 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.  This news release has been translated into French. Any discrepancies between the English and French versions of this news release, including in this “Cautionary Note Regarding Forward-Looking Information”, shall be resolved in favour of the English version.

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

Osisko Intersects 45.0 g/t Au Over 2.4 Metres At Garrison

(Montréal, April 12, 2017).  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 35,000 metre drill program is designed to further test the known Garrcon, Jonpol and 903 zones.  A total of eight new holes are reported in this release, with significant assay results presented in the table below.

New results include:  45.0 g/t Au over 2.4 metres, 7.66 g/t Au over 2.8 metres, and 6.44 g/t Au over 2.0 metres  in OSK-G17-346; 2.76 g/t Au over 5.6 metres and 1.69 g/t Au over 14.5 metres in OSK-G17-341.

The new results have demonstrated the potential to expand the extent of known mineralization in the 903 zone and beneath the Garrcon zone. The ongoing drill program for 2017 will continue to follow new extensions of the mineralized zones within the Garrcon, Jonpol and 903 zones.

Maps and sections showing hole locations and complete drilling results are available at www.osiskomining.com.

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t) cut to
30 g/t
Zone
OSK-G17-339 109.0 119.0 10.0 1.59   903
OSK-G17-341 40.7 46.3 5.6 2.76   903
  80.5 95.0 14.5 1.69   903
OSK-G17-346 416.7 419.1 2.4 45.0 12.6 Garrcon
including 418.1 419.1 1.0 108 30.0 Garrcon
  536.0 538.8 2.8 7.66   Garrcon
  550.8 552.8 2.0 6.44   Garrcon

Notes:  True Widths are estimated at 65 – 80% of the reported core length interval.  See “Quality Control” below.

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Section
OSK-G17-329 340 -57 763 578356 5373577 1600W
OSK-G17-333 340 -58 661 578259 5373551 1700W
OSK-G17-338 340 -55 861 577840 5373240 2200W
OSK-G17-339 340 -45 324 577370 5373068 2700W
OSK-G17-341 340 -45 258 577257 5373236 2750W
OSK-G17-343 340 -50 186 577059 5373487 2850W
OSK-G17-344 340 -45 226 577238 5373286 2750W
OSK-G17-346 340 -63 735 578451 5373610 1500W

 

OSK-G17-339 targeted the central section of the 903 but did not reach target depth. The hole intercepted the 903 South Sediment Zone including 1.59 g/t Au over 10.0 metres extending the southern zone 100 metres east of previous drilling. The 903 South Sediment Zone is a 10 to 15 metre wide section of Temiskaming-type sediments with strong sericite alteration and quartz veining containing up to 5% very fine grained pyrite mineralization that lies 100 metres south of the main 903 Syenite Zone.

OSK-G17-341 and OSK-G17-344 were drilled as shallow holes targeting the 903 Syenite Zone up-dip extension from the intercept in OSK-G17-326.  Both holes were 50 metres west of previous intersections, returning 2.8 g/t Au over 5.6 metres and 1.7 g/t Au over 14.5 metres.  The mineralized zones are hosted in porphyritic syenite and associated with coarse pyrite and hematite alteration.

OSK-G17-346 was drilled west of the Garrcon Zone, 75 metres below previously reported OSK-G16-312 which intersected mineralization along the southern contact of the iron formation, below and west of the Garrcon resource area.  The new hole intersected several zones of mineralization within Temiskaming type sediments with moderate sericite alteration, silicification, quartz fracture filling, including minor pyrite and local visible gold which returned 45.0 g/t Au over 2.4 metres, 7.66 g/t Au over 2.8 metres and 6.44 g/t Au over 2.0 metres.

OSK-G17-329, -333, -338, -343, -344 did not intersect significant mineralization.

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, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. 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 Minerals 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 Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control 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 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%. The trial production permit remains active.

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 metre 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 Garrcon and Jonpol zones 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 $190 million in cash and equity investment.

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 ongoing drill program at the Garrison gold project; results of the current 35,000 metre drill program; the significance of new drill results reported in this press release; the ability of new drill results to demonstrate potential for expansion of the previously defined Garrcon, Jonpol and 903 mineralized zones at the Garrison project; the scope of the 2017 drill program; that the 2017 drill program will follow new extensions of these mineralized zones to further define the scale of mineralization at the Garrison project; 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, 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, 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 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; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

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

Osisko Intersects 19.4 g/t Au Over 7.9 Metres At Windfall

High Grade Intercepts in Caribou, Underdog and Lynx

(Montréal, April 11, 2017)  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 400,000 metre drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area.

New analytical results from six drill holes in the Caribou, Underdog and Lynx zones are reported in this release and in the table below, with significant assay results including:  585 g/t Au over 2.8 metres (including 5.45 kilogram/t Au over 0.30 metres containing spectacular visible gold veinlets; main interval averages 11.5 g/t Au over 2.8 metres cut to 100 g/t) in hole OSK-W-17-743-W4;19.4 g/t Au over 7.9 metres (including 29.7 g/t Au over 4.5 metres; main interval averages 16.4 g/t Au over 7.9 metres cut to 100 g/t) in hole OSK-W-17-789;  and 24.9 g/t Au over 3.1 metres in hole OSK-W-17-W-802.   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) Au (g/t)
cut to
100 g/t
Zone Corridor
OSK-W-17-743-W4 796.2 799.0 2.8 585 11.5 CS1 Caribou
including 796.2 796.5 0.3 5450     Caribou
OSK-W-17-786 652.3 660.1 7.8 5.17   CS3 HW Caribou
including 652.3 656.0 3.7 9.85     Caribou
OSK-W-17-780-W1 1074.0 1091.0 17.0 5.97   FW0 Underdog
including 1079.0 1082.8 3.8 19.7     Underdog
OSK-W-17-789 853.0 860.9 7.9 19.4 16.4 FW1 Underdog
including 853.0 857.5 4.5 29.7 24.5   Underdog
  883.9 885.9 2.0 9.15   FW1 FW Underdog
including 884.9 885.6 0.7 24.1     Underdog
OSK-W-17-802 363.0 366.1 3.1 24.9   VNCR Lynx
including 365.3 366.1 0.8 73.2     Lynx
  378.7 381.3 2.6 3.99   VNCR Lynx
including 379.3 380.5 1.2 6.77     Lynx
OSK-W-17-803 137.0 139.3 2.3 5.23   HW Lynx
including 137.0 138.5 1.5 7.74     Lynx
  169.0 171.9 2.9 19.1     Lynx

Notes:

  1. True Widths for Caribou and Underdog Corridors are estimated at 65 – 80% of the reported core length interval.  True widths in the Lynx Zone are yet to be determined.  See “Quality Control” below.
  2. Definitions:  HW = hanging wall;  FW = footwall.  VNCR = crustiform vein. 
Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Section
OSK-W-17-743-W4 334 -64 1477.5 452651 5434237 2525
OSK-W-17-786 337 -55 718.5 452673 5434412 2625
OSK-W-17-789 316 -38 1075 452546 5434390 2500
OSK-W-17-780-W1 330 -60 1264.5 452929 5434378 2850
OSK-W-17-802 330 -54 400.5 453376 5434896 3475
OSK-W-17-803 331 -64 412.5 453305 5434943 3450

Caribou Corridor
OSK-W-17-743-W4 returned 585 g/t Au over 2.8 metres (11.5 g/t Au over 2.8 metres cut) from the CS1 Zone.  The hole is part of the 30 metre infill program in the Caribou Zone and mineralization includes two gold veinlets 2-5 millimetres thick within a semi-massive pyrite stringer.  The host rock is a strongly sericitized andesite in contact with a felsic dike.

OSK-W-17-786 returned 5.17 g/t Au over 7.8 metres from the CS3 Zone hanging wall (CS3 Zone in same hole returned 6.64 g/t Au over 4.9 metres, see March 22, 2017 press release).  The CS3 hanging wall is 3.6 metres above the CS3 Zone.  Mineralization is composed of up to 4% pyrite stringers.

Underdog Corridor
OSK-W-17-780-W1 is part of the Underdog 50 metre infill program.  The hole returned 5.97 g/t Au over 17.0 metres including 19.7 g/t Au over 3.8 metres in the FW0 zone.  Mineralization is comprised of up to 3% pyrite stringers in a strongly silica altered hosted in a felsic fragmental dike.  The intersection contains grey quartz veins, 10-15 millimetres wide, with local visible gold.  This interval is located 50 metres west of previously reported 3.3 g/t Au over 4.0 metres intersected in OSK-W-17-780 (see April 6, 2017, press release).

OSK-W-17-789 previously intersected the Caribou Corridor (see April 6, 2017, press release) and also intersected two parallel zones inside the Underdog Corridor.  New results from this hole in the Underdog Corridor include 19.4 g/t Au over 7.9 metres (16.4 g/t Au over 7.9 metres cut) and extend the FW1 Zone 50 metres west from previous intersections.  Mineralization contains up to 4% pyrite stringers and local visible gold hosted in a strongly sericitized and silicified felsic porphyry.  A second intersection associated with the FW1 footwall returned 9.15 g/t Au over 2.0 metres, including local visible gold in a semi-massive pyrite stringer.

Lynx Corridor
OSK-W-17-802 intersected two crustiform veins returning respectively 24.9 g/t Au over 3.1 metres and 3.99 g/t Au over 2.6 metres in the Lynx Corridor.  Pyrite-tourmaline stringers are composed of up to 7% pyrite and local visible gold at the vein contact.  This intersection is located 60 metres north-west of previously reported OSK-W-17-760 which returned 14.1 g/t Au over 3 meters (see January 11, 2017, press release).

OSK-W-17-803 intersected two mineralized zone in the Lynx Corridor.  The first intersection corresponds to the hanging wall of Lynx Zone, and returned 5.23 g/t Au over 2.3 metres.  Mineralization is composed of sulphide-rich silica bands including local visible gold.  The second intersection corresponds to the Lynx Zone and returned 19.1 g/t Au over 2.9 metres in the similar mineralization.  Both intersections are located 60 metres north-west of OSK-W-17-802 (described above).

Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, P.Geo. (OGQ 800), 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 and Reporting Protocols
True width determinations in the Caribou and Underdog zones are estimated at 65 – 80% true core lengths.  True width determinations in the Lynx Zone have yet to be determined.  Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram 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 kilogram 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 analyzed 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 Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control 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 with approximately $190 million in cash and investments.

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project; new analytics from the four drill holes focused on the Lynx Zone discovery; the significance of assay results presented in this press release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization, including the recently discovered Lynx Zone; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including additional drilling proposed to be conducted to the southeast of the Lynx Zone to further evaluate the abundance and true thickness of the veins and silicified bands; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “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, 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 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:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653

Osisko Intersects 34.1 g/t Au Over 4.0 Metres At Windfall

Caribou and Underdog Infill Drilling

(Montréal, April 6, 2017).  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 400,000 metre drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area.  New analytical results from five drill holes focused on infill and expansion drilling in the Caribou Corridor and Underdog Corridor are reported in this release, with significant assay results presented in the table below.

New results include:  34.1 g/t Au over 4.0 metres, 7.41 g/t Au over 10.4 metres (6.21 g/t Au over 10.4 metres cut), 10.6 g/t Au over 6.8 metres and 9.38 g/t Au over 4.0 metres in hole OSK-W-17-780; and 55.4 g/t Au over 2.6 metres (19.4 g/t Au over 2.6 metres cut) in hole OSK-W-17-743-W4.  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-17-743-W4 1100.0 1103.0 3.0 6.86   FW1
HW
Under Dog
including 1101.8 1102.2 0.4 42.6  
  1139.0 1142.0 3.0 3.21   FW1 Under Dog
  1194.6 1197.0 2.4 16.6   FW2
HW
Under Dog
including 1195.6 1196.0 0.4 95.1  
  1282.4 1284.4 2.0 5.42   FW2
FW
Under Dog
including 1282.4 1283.3 0.9 11.4  
OSK-W-17-743-W5 964.5 967.0 2.5 5.36   FW0
HW
Under Dog
  1272.7 1275.3 2.6 55.4 19.4  
FW2
 
Under Dog
including 1273.7 1274.2 0.5 287  
  1289.3 1291.9 2.6 3.94   FW2
FW
Under Dog
including 1290.3 1290.8 0.5 12.4  
OSK-W-17-780 435.9 439.3 3.4 4.46   New Caribou
including 435.9 436.3 0.4 10.7  
including 438.8 439.3 0.5 18.8  
  1036.5 1046.9 10.4 7.41 6.21 FW0
HW
Under Dog
including 1036.5 1037.0 0.5 125  
  1070.3 1074.3 4.0 3.3   FW0 Under Dog
including 1072.1 1073.0 0.9 8.61  
  1271.6 1278.4 6.8 10.6   FW1 Under Dog
including 1276.0 1278.4 2.4 28.9  
including 1276.0 1277.0 1.0 65.8  
  1366.0 1370.0 4.0 34.1   FW3 Under Dog
including 1368.5 1370.0 1.5 90.5  
  1400.0 1404.0 4.0 9.38   FW3
FW
Under Dog
including 1401.0 1402.5 1.5 24.4  
OSK-W-17-784 767.0 770.0 3.0 4.89   Wolf
HW
Caribou
including 769.5 770.0 0.5 15.1  
  780.4 786.1 5.7 3.21   Wolf
HW
Caribou
including 785.1 786.1 1.0 13.6  
OSK-W-17-789 538.9 544.1 5.2 7.31 6.39 CS1
FW
Caribou
including 543.8 544.1 0.3 116  

Notes:

  1. True Widths are estimated at 65 – 80% of the reported core length interval.  See “Quality Control” below.
  2. Definitions:  HW = hanging wall;  FW = footwall.
Hole Number Azimuth (°) Dip (°) Length
(m)
UTM E UTM N Section
OSK-W-17-743-W4 334 -64 4847.4 452651 5434237 2525
OSK-W-17-743-W5 334 -64 5103.4 452651 5434237 2525
OSK-W-17-780 332 -59 5093.5 452929 5434378 2850
OSK-W-17-784 330 -54 2938.0 452860 5434491 2825
OSK-W-17-789 316 -38 3526.9 452545 5434390 2500


OSK-W-17-743-W4
intersected four zones in the Underdog corridor. The first zone returned 6.88 g/t Au over 3 metres in FW1 hanging wall. The mineralization is composed of 5-7% pyrite stringers and a tourmaline-quartz vein with visible gold hosted in an altered fragmental intrusion. This intersect is part of the 50 metres spacing infill program. The second zone returned 3.21 g/t Au over 3.0 metres in the FW1 corridor, 70 metres vertically under the OBM-15-560 5.7 g/t Au over 13.0 metres (see January 28, 2016 press release). The mineralization consists of 5% pyrite stringers associated with silica altered contact area between two felsic porphyry dikes. The third zone, located in FW2 hanging wall, returned 16.6 g/t Au over 2.4 metres. The mineralization consists of up to 30% pyrite and chalcopyrite traces in the similar geological context. The last zone assayed 5.42 g/t Au over 2.0 metres in the Underdog corridor between FW2 and FW3 zones. The mineralzation is composed of 2-5% pyrite and trace of chalcopyrite associated to a porphyry dikes contact.

OSK-W-17-743-W5 tested Underdog Corridor and intersected 5.36 g/t Au over 2.5 metres in the hanging wall of FW0 in a bleached andesite containing 2% pyrite stringers. It correlates with 2.81 g/t Au over 2.0 metres in OSK-W-17-743-W3, located 70 metres to the south-west. This drill hole also intersected the FW2 zone 19.4 g/t Au over 2.6 metres (55.4 g/t Au over 2.6 metres uncut) including gold rich quartz veins 287 g/t Au over 0.5 metres. The FW2 foot wall zone was intersected 1060 metres below surface and returned 3.94 g/t Au over 2.6 metres.

OSK-W-17-780 intersected six parallel zones, one in the Caribou corridor and five in the Underdog corridor. The first returned 4.46 g/t Au over 3.4 metres 200 metres south-east of the main Caribou zone in strongly silicified andesite with disseminated pyrite. The second returned 6.21 g/t Au over 10.4 metres (7.41 g/t Au over 10.4 metres uncut). The mineralization includes up to 10% pyrite stringers, chalcopyrite, sphalerite and trace of electrum related to sericitized and silicified magmatic breccia. This new zone is located 35 metres in the hangingwall of the known FW0 Zone. The third zone, the FW0, returned 3.3 g/t Au over 4.0 metres in a sericitized and silicified fragmental porphyry dike containing 2 % pyrite stringers. This intersection extend the FW0 zone 60 metres to the east from the OBM-W-16-614 (see April 14, 2016 press release). The fourth zone, 100 metres spacing infill program on FW1, returned 10.6 g/t Au over 6.8 metres with the same lithological features. The FW3 Zone assayed 34.1 g/t Au over 4.0 metres hosted in a felsic intrusive with 1% pyrite stringers and disseminated pyrite. The last intersection is 35 metres deeper than the previous one and in strike with the FW3 zone. The analytical, results returned 9.38 g/t Au over 4.0 metres. The mineralization includes up to 10% pyrite stringers and extended the FW3 corridor 100 metres to the east from OSK-W-16-754 (see February 14, 2017 press release).

OSK-W-17-784 intersected two mineralized intervals in the hanging wall of the Wolf Zone. The first one returned 4.89 g/t Au over 3.0 metres hosted in a sericitized felsic large quartz eyes intrusive with 1 to 5 % disseminated pyrite, pyrite stringers and visible gold. The second intersection assayed 3.21 g/t Au over 5.7 metres associated with 5 to 10% pyrite stringers, local chalcopyrite and tourmaline veinlets. The mineralization is hosted in a sericitized, ankeritized and weakly slicified small quartz eyes felsic intrusive. This interval is located 20 meters to the south-west and below previously reported 17.1 g/t over 2.0 meters in OSK-W-16-708 (see August 31, 2016 press release).

OSK-W-17-789 is an infill hole testing the CS1 Zone. A 5.12 g/t Au over 7.4 metres zone was previously reported (see March 22, 2017 press release) and receipt of additional analytical results add on a new zone, 3.2 metres deeper in the hole, returning 6.39 g/t Au over 5.2 metres (7.31 g/t Au over 5.2 metres uncut). The mineralization include up to 8% pyrite stringers and trace of sphalerite associated to strongly sericite and silica altered felsic porphyry dike.

Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier., P.Geo. 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 and Reporting Protocols
True widths determinations in the Caribou and Underdog zones are estimated at 65-80% of the reported core length interval. Assays are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram 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 kilogram 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 analyzed 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 Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control 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 with approximately $190 million in cash and investments.

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project, including in respect of the Caribou Corridor and Underdog Corridor; new analytics from the five drill holes focused on the Caribou Corridor and Underdog Corridor; the significance of assay results presented in this press release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “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, 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 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:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653

 

Osisko Intersects 63.8 g/t Au Over 4.4 Metres At Windfall

New High Grade Intersections in Lynx Discovery

(Montréal, April 5, 2017).  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 400,000 metre drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area.  New analytical results from 3 drill holes focused on the Lynx Zone discovery are reported in this release, with significant assay results presented in the table below.

New results include:  63.8 g/t Au over 4.4 metres and 50.9 g/t Au over 4.6 metres in OSK-W-799; new analytical results have also been received from holes OSK-W-17-788 and OSK-W-792.  Significant intervals are presented below, as well as recalculations of two intervals that have been expanded:  42.1 g/t Au over 9.2 metres in OSK-W-16-792; and 17.0 g/t Au over 17.3 metres in OSK-W-788.  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-17-788 233.0 250.3 17.3 17.0 12.8 Main Lynx
including 236.4 236.9 0.5 153 100
including 239.0 240.0 1.0 128 100
  295.0 297.0 2.0 6.21   FW Lynx
including 296.6 297.0 0.4 25.7  
  301.0 303.0 2.0 3.76   FW Lynx
OSK-W-17-792 309.5 318.7 9.2 42.1 25.2 Main Lynx
including 313.3 314.2 0.9 56.0  
including 315.6 317.6 2.0 162  100
OSK-W-17-799 309.3 311.2 1.9 10.6   HW  Lynx
  319.8 324.4 4.6 50.9  49.7 Main Lynx
including 319.8 320.7 0.9 106 100
including 323.1 324.4 1.3 82.7  
  339.8 344.2 4.4 63.8 41.4 FW Lynx
including 341.5 342.3 0.8 223  100
  402.0 408.5 6.5 11.0   CV Lynx

Notes:  Definitions:  HW = hanging wall;  FW = footwall.  PRSB = pyrite-rich silicified bands.  CV = crustiform veins.

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Section
OSK-W-17-788 331.5 -66.1 376.5 453329 5434932 3450
OSK-W-17-792 334.5 -64.0 439.5 453446 5434960 3575
OSK-W-17-799 332.5 -74.5 451.5 453481 5435037 3644

The Lynx Zone is a recently discovered corridor of gold mineralization located to the East of the main Windfall deposit mineralized zones.  To date it has been intersected at shallow depths (60 metres) and up to 330 metres below surface, over a strike length of over 300 metres and remains open laterally and at depth. The Lynx Zone was discovered as a result of the step-out drilling program which was designed to test an east-northeast magnetic low corridor containing altered porphyry dikes similar to those previously defined in the main deposit area.  Mineralization consists of a series of crustiform veins and heavily silicified, pyrite-rich alteration bands hosted in strongly silicified and sericitized rhyolite and porphyry dikes. The veins and silicified bands are intersected at various angles, including low core angles, suggesting they may represent a vein network.  Additional drilling will be conducted in a southeast direction to further evaluate the abundance and true thickness of the veins and silicified bands.  True thicknesses of reported intersections are presently unknown.

OSK-W-17-788 intersected three zones of high silicified pyrite-rich alteration bands containing 5-10% pyrite with local visible gold.  The first zone is an expansion of a previously released interval from this hole, based on receipt of additional assays (previously reported 57.0 g/t Au over 3.6 metres, see March 28, 2017 press release).  The new calculated interval averaged 17.0 g/t Au over 17.3 metres (12.8 g/t Au over 17.3 metres cut).  The second and third intersections returned 6.21 g/t Au over 2.0 metres and 3.76 g/t Au over 2.0 metres respectively, and correspond to the Lynx foot wall.  All mineralization is hosted in a sericitized and silicified rhyolite.

OSK-W-17-792 is a newly calculated expanded interval based on the receipt of additional analytical results from this hole (71.4 g/t Au over 5.4 metres, see March 28, 2017 press release).  The new calculated interval averages 42.2 g/t Au over 9.2 metres (25.2 g/t Au over 9.2 metres cut).  Mineralization is composed of silicified pyrite-rich alteration bands containing 5-20% pyrite and local visible gold hosted in a sericitized and silicified rhyolite.  This interval is located 40 metres above and 20 metres to the east of 11.3 g/t Au over 3.6 metres in previously reported OSK-W-17-790 (see March 28, 2017 press release).

OSK-W-17-799 intersected four zones 60 metres down plunge of OSK-W-17-792.  The first zone returned 10.6 g/t Au over 1.9 metres in the hanging wall.  The mineralization consists of silicified pyrite-rich bands hosted in a sericitized interval at the contact between a fragmental felsic intrusive and a mafic dike.  The main Lynx Zone returned 49.7 g/t Au over 4.6 metres (50.9 g/t over 4.6 metres uncut) in a felsic intrusive cross-cut by several highly silicified bands containing up to 25% pyrite and local visible gold. The third zone returned 41.4 g/t Au over 4.4 metres (63.8 g/t Au over 4.4 meters uncut) and corresponds to the Lynx foot wall.  The mineralization style is the same as the second zone but localized at the lower contact of the felsic intrusive.  The last zone intersected contained a crustiform vein including 5% pyrite and local visible gold.  The vein cross-cuts a mafic dike.  The interval returned 11.0 g/t Au over 6.5 metres.

Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr.Louis Grenier., P.Geo. 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 and Reporting Protocols
True width determinations in the Lynx Zone have yet to be determined.  Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram 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 kilogram 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 analyzed 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 Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control 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 with approximately $190 million in cash and investments.

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project, including in respect of the Lynx Zone discovery; new analytics from the three drill holes focused on the Lynx Zone discovery; the significance of assay results presented in this press release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization, including the recently discovered Lynx Zone; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including additional drilling proposed to be conducted to the southeast of the Lynx Zone to further evaluate the abundance and true thickness of the veins and silicified bands; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “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, 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 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:
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.