OSISKO INTERSECTS 37.0 g/t Au OVER 5.4 METRES AT OSBORNE-BELL

Infill Drilling Continues to Confirm High-Grade

 

(Toronto, September 28, 2018)  Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new results from the ongoing infill drilling program at its 100% owned Osborne-Bell gold deposit located 15 kilometres northwest of the town of Lebel-sur-Quévillon, Québec. The 50,000-metre program combines definition and expansion drilling at Osborne-Bell and the surrounding Quévillon property area.  The Osborne-Bell deposit remains open at depth.  To date approximately 24,100 metres of infill drilling have been completed over the main Osborne-Bell deposit.

 

Significant new analytical results from 22 intercepts in 18 drill holes are presented below. Highlights from the new results include: 37.0 g/t Au over 5.4 metres in OSK-OB-18-051; 38.6 g/t Au over 2.5 metres in OSK-OB-18-011; 41.1 g/t Au over 2.4 metres in OSK-OB-18-086 and 26.6 g/t Au over 4.6 metres in OSK-OB-18-010. 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 Type Mineralized Zone
OSK-OB-18-010 144.7 149.3 4.6 26.6 infill 2-650
including 144.7 146.0 1.3 43.8
OSK-OB-18-011 171.0 176.3 5.3 5.25 infill 2-650
including 174.0 175.0 1.0 12.3
OSK-OB-18-011 195.7 198.2 2.5 38.6 29.0 infill 2-650
including 195.7 196.4 0.7 135 100 
OSK-OB-18-019 425.0 428.0 3.0 15.2 infill 2-652
OSK-OB-18-023 287.0 289.0 2.0 13.0 Infill 2-651
OSK-OB-18-043 149.5 155.8 6.3 10.9 infill 2-650
including 155.0 155.8 0.8 52.3
OSK-OB-18-051 167.6 173.0 5.4 37.0 34.7 infill 2-652
including 170.0 171.0 1.0 113 100
OSK-OB-18-055 59.9 62.9 3.0 11.8 infill 2-651
including 59.9 60.9 1.0 18.8
OSK-OB-18-057 105.6 107.7 2.1 26.4   infill 2-650
OSK-OB-18-064 117.6 121.0 3.4 7.26   infill 2-651
including 117.6 118.6 1.0 19.8  
OSK-OB-18-069 129.0 138.0 9.0 6.18 infill 2-652
including 131.1 132.2 1.1 26.9  
OSK-OB-18-070 134.0 136.1 2.1 38.0 infill 2-652
OSK-OB-18-070 138.9 142.2 3.3 14.2 infill 2-652
OSK-OB-18-073 128.2 132.3 4.1 8.20 infill 2-652
including 130.4 131.0 0.6 38.0
OSK-OB-18-073 136.7 139.3 2.6 29.4 infill 2-652
including 137.0 137.3 0.3 92.4
OSK-OB-18-075 175.0 178.0 3.0 19.6 infill 2-652
including 175.0 175.8 0.8 52.5  
OSK-OB-18-077 132.2 134.5 2.3 8.28   infill 3-653
including 132.5 133.0 0.5 18.4  
OSK-OB-18-082 168.5 174.5 6.0 3.32 infill 3-653
OSK-OB-18-086 208 210.4 2.4 41.1 39.1 infill 3-551
including 208.0 209.0 1.0 95.0 90.2
OSK-OB-18-088 102.7 109.4 6.7 3.90 infill 3-654
including 103.9 104.4 0.5 21.8
OSK-OB-18-088 152.9 156.0 3.1 11.0 infill 3-653
including 152.9 153.3 0.4 79.6
OSK-OB-18-098 15.9 18.3 2.4 13.4 infill 3-652
including 15.9 17.0 1.1 27.2

 

 

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Section
OSK-OB-18-010 204 -63 232 340985 5444043 1975E
OSK-OB-18-011 196 -53 274 341027 5444098 2000E
OSK-OB-18-019 196 -62 565 341140 5444258 2075E
OSK-OB-18-023 189 -53 450 341057 5444209 2000E
OSK-OB-18-043 199 -65 210 341005 5444053 2000E
OSK-OB-18-051 181 -60. 204 341098 5444097 2075E
OSK-OB-18-055 196 -49. 136 340953 5444027 1950E
OSK-OB-18-057 187 -58 126 340922 5444024 1925E
OSK-OB-18-064 196 -47 204 340967 5444091 1950E
OSK-OB-18-069 194 -51 200 341069 5444124 2025E
OSK-OB-18-070 194 -52 168 341088 5444119 2050E
OSK-OB-18-073 193 -55 182 341115 5444096 2075E
OSK-OB-18-075 194 -50 210 341217 5444117 2175E
OSK-OB-18-077 196 -48 216 341265 5444131 2225E
OSK-OB-18-082 196 -47 209 341447 5444042 2425E
OSK-OB-18-086 182 -47 303 341464 5444076 2425E
OSK-OB-18-088 195 -47 192 341461 5444017 2425E
OSK-OB-18-098 191 -45 71 341239 5443973 2250E

 

OSK-OB-18-010 intersected zone 2-650 averaging 26.6 g/t Au over 4.6 metres. Mineralization consists of local visible gold, up to 5% finely disseminated pyrite and trace pyrrhotite in an andesite with weak carbonate alteration.

 

OSK-OB-18-011 intersected 5.25 g/t Au over 5.3 metres and 38.6 g/t Au over 2.5 metres in zone 2-650. Mineralization consist of up to 10% clustered pyrite in a fragmented andesite with irregular felsic fragments.

 

OSK-OB-18-019 intersected 15.2 g/t Au over 3.0 metres in zone 2-652. The interval contains 2% disseminated pyrite in a felsic volcanic rock with moderate sericite and potassic alteration.

 

OSK-OB-18-023 intersected 13.0 g/t Au over 2.0 metres in zone 2-651. Mineralization consists of 5% disseminated pyrite and up to 3% pyrrhotite in a silica-biotite-sericite altered andesite.

 

OSK-OB-18-043 intersected 10.9 g/t Au over 6.3 metres in zone 2-650. Mineralization consists of local visible gold on the margin of quartz-carbonate-chlorite veins, up to 7% disseminated pyrite, trace chalcopyrite and sphalerite in an andesite with a penetrative silica and potassic alteration.

OSK-OB-18-051 intersected 37.0 g/t Au over 5.4 metres in zone 2-652. Mineralization consists of 2% pyrite stringers and trace chalcopyrite stringers in a strongly sericitized porphyritic rhyodacite with weak chloritization.

OSK-OB-18-055 intersected 11.8 g/t Au over 3.0 metres in zone 2-651. Mineralization includes up to 5% pyrite clusters in association with dismembered quartz-chlorite-carbonate veinlets, 2% pyrite stringers, 2% pyrrhotite clusters and trace chalcopyrite in an andesite with moderate sericitization and carbonatation.

OSK-OB-18-057 intersected 26.4 g/t Au over 2.1 metres in zone 2-650. Mineralization consists of up to 6% disseminated pyrite in an andesite strongly altered in sericite, biotite and chlorite.

OSK-OB-18-064 intersected 7.26 g/t Au over 3.4 metres in zone 2-651. Mineralization consists of up to 4% pyrite and 1% pyrrhotite in clusters and stringers and trace pyrite associated with dismembered quartz-chlorite-carbonates veinlets in a strongly sericitized andesite.

OSK-OB-18-069 intersected 6.18 g/t Au over 9.0 metres in zone 2-652. Mineralization consists of 3% pyrite, trace pyrrhotite and trace chalcopyrite as clusters and in association with quartz-carbonate veins. Mineralization is hosted in silica and sericite altered quartz-phyric rhyodacite.

OSK-OB-18-070 intersected 14.2 g/t Au over 3.3 metres and 38.0 g/t Au over 2.1 metres in zone 2-652. Mineralization consists of 2% pyrite dissemination, 1% sphalerite at the margin of quartz-carbonate veins in a moderately sericitized rhyodacite.

OSK-OB-18-073 intersected two intervals: 8.20 g/t Au over 4.1 metres and 29.4 g/t Au over 2.6 metres in zone 2-652.  The first interval contains 5% of interstitial pyrite, locally trace to 20% chalcopyrite at the contact between a sericitized rhyodacite and a chloritized andesite. The second interval contains local visible gold associated with 2% pyrite and 1% chalcopyrite in stringers and clusters in a quartz-phyric rhyodacite with sericite and biotite alteration.

OSK-OB-18-075 intersected 19.6 g/t Au over 3.0 metres in zone 2-652.  Mineralization consists of local visible gold, 8% pyrite, 1% sphalerite and trace disseminated chalcopyrite in a strongly sericitized and silicified porphyritic rhyodacite.

OSK-OB-18-077 intersected 8.28 g/t Au over 2.3 metres in zone 3-653.  Mineralization consists of 5% chalcopyrite, 2% pyrite and trace sphalerite in a sericitized andesite.

OSK-OB-18-082 intersected 3.32 g/t Au over 6.0 metres in zone 3-653.  Mineralization consists of 3% pyrite stringers and clusters, trace chalcopyrite in stringers hosted in quartz porphyritic rhyodacite.

OSK-OB-18-086 intersected 41.1 g/t Au over 2.4 metres in zone 3-551. Mineralization consists of up to 5% pyrite stringers, 1% disseminated chalcopyrite and trace sphalerite in a strongly sericitized quartz-phyric rhyodacite.

 

OSK-OB-18-088 intersected 3.90 g/t Au over 6.7 metres in zone 3-654 and 11.0 g/t Au over 3.1 metres in zone 3-653.  The first interval contains up to 6% pyrite and 2% chalcopyrite in stringers hosted in an andesite altered in biotite and sericite.  The second interval contains local visible gold, 2% pyrite stringers and 1% sphalerite in chlorite-carbonate veinlets. Mineralization is hosted in a strongly sericitized and silicified porphyritic rhyodacite.

OSK-OB-18-098 intersected 13.4 g/t Au over 2.4 metres in zone 3-652.  Mineralization consists of 1% disseminated pyrite and stringers in sericite and chlorite altered quartz-phyric rhyodacite.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Pascal Simard, P.Eng. (OIQ 5002937), Director of Northern Exploration for projects in Quebec, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Columbia. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analyzed for multi-elements, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab.

 

About the Osborne-Bell Gold Deposit

The Osborne-Bell gold deposit is located 15 kilometres northwest of the town of Lebel-sur-Quevillon in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the Osborne-Bell Technical Report (as defined below), comprises 2,587,000 tonnes at 6.13 g/t Au (510,000 ounces) in the inferred mineral resource. Mineralization occurs in nine (9) individuals mineralized zones:1-551, 1-651, 1-653, 2-650, 2-652, 3-551, 3-552, 3-652, 3-653. All zones comprise sub-vertical lenses following intermediate and felsic volcanic rocks plunging to the northeast. The deposit is well defined from surface to a depth of 300 metres. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Osborne-Bell gold project, please see the technical report entitled “Technical Report and Mineral Resource Estimate – Osborne-Bell deposit, Quévillon property ” and dated April 23, 2018 (effective date of March 2, 2018), which has been prepared by InnovExplo Inc. from Val-d’Or, Québec (the “Osborne-Bell Technical Report”). The Osborne-Bell Technical Report is available on Osisko’s website at www.osiskomining.com and on SEDAR under Osisko’s issuer profile at www.sedar.com. For details regarding the PEA refer to “Preliminary Economic Assessment of the Windfall Lake Project, Lebel-sur-Quévillon, Québec, Canada” and dated August 1, 2018 (effective date of July 12, 2018), has been prepared for Osisko by BBA Inc., InnovExplo Inc., Golder Associates Ltd., WSP Canada Inc. and SNC-Lavalin Stavibel Inc. (the Windfall PEA). The Windfall PEA which includes the Osborne Bell Deposit is available on SEDAR (www.sedar.com) under Osisko’s issuer profile.

About Osisko Mining Inc.

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

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”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things, the timing and ability of Osisko to file a technical report in respect of this resource estimate; the prospects of the Osborne-Bell gold deposit; the potential for the Osborne-Bell gold deposit being a significant deposit; the potential future mill site for the Windfall Lake gold deposit; the timing and ability of Osisko, if at all, to publish a resource update for Windfall-Lynx; the projected capital expenditures of mining activities at the Osborne-Bell gold deposit; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource categories; the significance of historic exploration activities and results. 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 management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Quévillon project and the Osborne-Bell Gold Deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

For further information please contact:

John Burzynski
President and Chief Executive Officer

Telephone: (416) 363-8653

OSISKO CO-FOUNDER ROBERT WARES DONATES $5 MILLION TO McGILL

(Toronto, September 27, 2018)  Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is proud to recognize and congratulate Robert Wares, one of the original founders of the Osisko group companies on the announcement of his donation of $5 million to McGill University in Montréal, Québec.  The following is an excerpt from yesterday’s McGill press release.

 

As an entrepreneurial geologist, Bob Wares, (BSc’79, DSc’12), became a mining rock star when he discovered one of Canada’s largest gold deposits in the Abitibi region of Quebec. Now, he is bringing that Midas touch to his alma mater in the form of a landmark $5 million gift that will support research programs, fellowships, innovative research, a lecture series and outreach efforts in McGill University’s Faculty of Science, with a particular focus on his home department, Earth and Planetary Sciences (EPS).

 

The gift will provide immediate impact for students and faculty in five targeted areas:

 

– the Wares Science Innovation Prospectors Fund, designed to support innovative, high-risk research by funding up to four promising projects a year from researchers across the Faculty of Science;

 

– a Recruitment and Outreach Coordinator Fund, supporting the activities of a coordinator to liaise with CEGEPs and high schools in an effort to attract more students to EPS studies at McGill;

 

– the Wares Field Study Fund, supporting field studies in Canada and abroad for EPS students;

 

– the Wares Postdoctoral Fellowships, which will provide funding for up to four EPS postdoctoral fellows each year pursuing earth science research.

 

– an Annual Lecture Fund, to bring globally renowned keynote speakers to Montreal to discuss earth science topics or areas of research.

 

“We would like to thank Bob Wares for this exceptional gift and for his continued support of McGill,” said Suzanne Fortier, Principal and Vice-Chancellor of McGill University. “This donation will make an immediate impact on our Faculty of Science and will greatly enhance important research, education and out-of-classroom student experiences in the Department of Earth and Planetary Sciences.

 

A graduate of EPS, Wares has been a longtime supporter of McGill, contributing to the Faculties of Science and Medicine. In 2009, Wares and his company, Osisko Mining Corporation, contributed $4.1 million to endow two faculty research awards, undergraduate and graduate level scholarships and a field trip fund in the Department of Earth and Planetary Sciences, with part of the gift matched by the J.W. McConnell Family Foundation. Wares has supported McGill every year since 2009 and his latest gift brings his total McGill support to date to over $10 million. As a volunteer and member of the Faculty of Science Advisory Board, he has also been exceptionally generous with his time and insights.

 

“Bob has had a tremendous impact on our Faculty and I am grateful for his involvement, his ideas, and his perspective as a business leader,” said Bruce Lennox, Dean of the Faculty of Science. “His continuing commitment to our students and researchers is an invaluable asset, particularly to Earth and Planetary Sciences.”

 

A mining industry leader and innovator, Wares has been dubbed a ‘rock star’ in the field because of his remarkable success in assessing, finding and launching various mining exploration projects over the course of his 40-year career. Together with two associates, he founded Osisko Mining Corporation in 2003, and, against all odds, the fledging company eventually developed the Canadian Malartic mine, which, to this day, remains the largest single gold producer in Canada, with initial reserves of 11 million ounces of gold. In 2012, Wares received an Honorary Doctorate from McGill in recognition of his achievements in the field of applied economic geology.

 

“I’m very pleased to have this opportunity to support McGill, the Faculty of Science and EPS,” said Wares, who is currently Executive Vice-President of the new Osisko Mining and Executive Chairman of Osisko Metals. “I’m particularly pleased to support field trips and experiential education, which are so important to students in Earth and Planetary Sciences.”

OSISKO MINING CLOSES $76.4 MILLION “BOUGHT DEAL” PRIVATE PLACEMENT OF FLOW THROUGH SHARES AND COMMON SHARES, INCLUDING UNDERWRITERS’ OPTION

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

(Toronto, September 18, 2018) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce, further to its announcements on August 15, 2018 and August 16, 2018, that it has completed a “bought deal” brokered private placement of (i) an aggregate of 27,046,031 common shares of the Corporation that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and, where applicable, section 359.1 of the Taxation Act (Québec)) (“Flow-Through Shares”) for aggregate gross proceeds of approximately $69.9 million, and (ii) an aggregate of 3,823,000 common shares of the Corporation (“Common Shares”) at an issue price of $1.70 per Common Share for aggregate gross proceeds of approximately $6.5 million, including the exercise in full of the underwriters’ option (the “Offering”). The Flow-Through Shares were issued in two tranches, whereby the first tranche consisted of 14,035,088 Flow-Through Shares at an issue price of $2.85 per “tranche one” Flow-Through Share and the second tranche consisted of 13,010,943 “tranche two” Flow-Through Shares at an issue price of $2.30 per Flow-Through Share. The total proceeds of the Offering are approximately $76.4 million.

The Offering was led by Canaccord Genuity Corp. on behalf of a syndicate of underwriters that included Haywood Securities Inc., Macquarie Capital Markets Canada Ltd. and National Bank Financial Inc.

The gross proceeds from the sale of Flow-Through Shares will be used by the Corporation to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” (within the meaning of Income Tax Act (Canada)) related to Osisko’s projects in Québec on or prior to December 31, 2019 for renunciation to subscribers of Flow-Through Shares effective December 31, 2018. The net proceeds from the sale of Common Shares will be used to fund exploration activities and for general corporate purposes.

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.

 

 

The following “insiders” of the Corporation have subscribed for Flow-Through Shares under the Offering:

Insider Insider Relationship Flow-Through Shares Purchased

(#)

Subscription Amount

($)

John Burzynski Director and Senior Officer of Osisko; Director of 10% Securityholder of Osisko 25,000 $57,500
Sean Roosen Director of Osisko; Director and Senior Officer of 10% Securityholder of Osisko 75,000 $172,500
José Vizquerra Director and Senior Officer of Osisko 25,000 $57,500
Robert Wares Senior Officer of Osisko 500,000 $1,150,000
Bryan Coates Senior Officer of 10% Securityholder of Osisko 65,500 $150,650
Mathieu Savard Senior Officer of Osisko 10,000 23,000
André Gaumond Director of 10% Securityholder of Osisko 122,310 $281,313
Totals 822,810 $1,892,463

Each subscription by an “insider” is considered to be a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Pursuant to MI 61-101, the Corporation has filed a material change report providing disclosure in relation to each “related party transaction” on SEDAR under Osisko’s issuer profile at www.sedar.com. The Corporation did not file the material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by each “related party” of the Corporation were not settled until shortly prior to the closing of the Offering, and the Corporation wished to close the Offering on an expedited basis for sound business reasons. The Corporation is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Corporation is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Corporation’s market capitalization. Additionally, the Corporation is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Corporation’s market capitalization.

About Osisko Mining Inc.

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

 

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the Toronto Stock Exchange; the tax treatment of the Flow-Through Shares; the timing of the tax renunciation to the subscribers; objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

For further information please contact:

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

OSISKO WINDFALL DEEP DRILLING CONFIRMS TRIPLE 8 DISCOVERY

17.4 g/t Au Over 13.7 Metres (including 26.3 g/t Au over 6.5 Metres)

6.31 g/t Au Over 12.5 Metres (including 21.1 g/t Au Over 3.2 Metres)

(Toronto, September 13, 2018)  Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new results from the ongoing deep-hole program at its 100% owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

In May 2018 Osisko commenced two deep exploration drill holes (“Deep Underdog” and “Deep Lynx”) to investigate the potential for depth extensions of the Lynx and Underdog mineralized zones, as well as to further test the intrusion-related geological model for the Windfall deposit at depths of approximately 2000 metres to 2500 metres from surface.

 

New drilling has confirmed and expanded the Triple 8 discovery (see Osisko news release dated July 11th, 2018). Wedge hole OSK-W-18-1603-W2 intersected a zone of sericite and silica alteration over 85 metres containing sulfides and zones of gold mineralization from approximately 1485 metres to approximately 1570 metres downhole.  This alteration zone includes two significant gold bearing intervals located between approximately 1510 to 1554 metres downhole. The new wedge extends the Triple 8 zone by 50 metres to the south from the discovery hole OSK-W18-1603.  Triple 8 geometry is still being interpreted, however the zone appears to remain open in all directions.  Previously drilled wedge OSK-W-18-1603-W1 intersected a fault zone and porphyritic intrusive in the anticipated Triple 8 area.  Maps and sections showing the location of the two new wedges and their relation to the Triple 8 discovery are provided on the Corporation’s website. The Triple 8 Zone falls well outside the area of the recently announced Windfall mineral resource estimate (see Osisko news release dated May 14th, 2018).

 

Osisko President and CEO John Burzynski commented:  “Today’s follow-up results from the new wedge hole in the Triple 8 discovery are a great confirmation that there is significant high-grade gold at depth in the Windfall intrusive system.  What we find very exciting is that the Triple 8 alteration zone now extends over 85 metres wide, on a scale we haven’t seen before at Windfall, indicating that we may be approaching a main source of the mineralizing system.  We are confident that as we progress with drilling the deeper sections of the Windfall deposit we will continue to have discovery success.”

 

Sericite and silica alteration begins within the host andesite and gabbro package at approximately 1434 metres, increasing in intensity to a strongly altered zone between 1485 metres to 1570 metres. Alteration is found peripheral to a felsic stock dipping 40° to the north-east and shows the same chlorite – biotite +/- garnet alteration encountered in the Triple 8 discovery hole.  Exact geometries and relationships between the mineralization and the emplacement of the felsic stock have yet to be determined. The Triple 8 Zone appears to be sub-vertical with a 70 degree dip and is oriented NNE at 030 degrees. Mineralization consists of semi-massive and stringer pyrite with local visible gold and strong silica alteration. The zones contain minor sphalerite, chalcopyrite, pyrrhotite, and trace arsenopyrite. A number of minor mineralized intervals were encountered in the hanging wall and the footwall of the main mineralized corridor (assays pending).

 

Today’s results include the currently available significant analytical results from OSK-18-1603-W2.  Maps showing the drill hole location and 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

Mineralized Area
OSK-W-18-1603-W2 1510.3 1524.0 13.7 17.4 Triple 8
including 1510.3 1512.8 2.5 23.2
including 1517.5 1524.0 6.5 26.3
OSK-W-18-1603-W2 1538.4 1550.9 12.5 6.31  

Triple 8

including 

1547.7 1550.9 3.2 21.1

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Section
OSK-W-18-1603-W2 35 -80 1741.0 453340 5434543 3275

 

OSK-W-18-1603-W2

Gold mineralization in the main alteration corridor (1485 metres to 1570 metres downhole) is hosted in a pervasive altered andesite and is subdivided into two intervals which correspond to the Triple 8 Zone. The first interval, from 1510.3 metres to 1524.0 metres is hosted in strong pervasive silica and moderate sericite alteration. Mineralization consists of up to 35% pyrite stringers, local semi-massive pyrite, trace chalcopyrite, sphalerite, arsenopyrite and local visible gold. The second interval extends from 1538.4 metres to 1550.9 metres and contains up to 30% pyrite stringers, up to 20% pyrite-tourmaline veins, trace sphalerite and local visible gold within a strong silica and moderate sericite altered andesite.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of 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 determination for the Triple 8 Zone is currently undetermined but is estimated at 65-80% of the reported core length intervals. Assays are uncut except where indicated. Intercepts occur within geological confines of a major zone but have not been correlated to individual vein domain at this time. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results are performed by a “qualified person” employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Lake Gold Deposit

The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko comprises 2,382,000 tonnes at 7.85 g/t Au (601,000 ounces) in the indicated resource category and 10,605,000 tonnes at 6.70 g/t Au (2,284,000 ounces) in the inferred resource category. See the technical report, entitled “Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties” and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared for Osisko by InnovExplo Inc. from Vald’Or, Québec, and is available on SEDAR (www.sedar.com) under Osisko’s issuer profile. The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou, and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 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 1,200 metres in others, with significant potential to extend mineralization down-plunge and at depth.

About Osisko Mining Inc.

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

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 discovery, grade, mineralization and potential of the Triple 8 Zone, if any; the significance of the deep exploration drill holes,(including the new wedge holes described in this news release, if any; the openness of the Triple 8 Zone; the correlation with the Triple 8 Zone with any known zone; the significance of management’s geological modelling and interpretation of interim drill results; the significance of new results from the ongoing drill program at the Windfall Lake gold project; the significance of assay results presented in this news release; the type of drilling included in the drill program (definition, expansion and exploration drilling in and around the main Windfall Lake gold deposit and the adjacent Lynx 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, including 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”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. While this forward-looking information is based on reasonable assumptions and estimates of management as of the date hereof, such forward-looking information inherently 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 management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions. Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information, Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

For further information please contact:

John Burzynski. President and Chief Executive Officer

Telephone: (416) 363-8653

INTERIM ORDER OBTAINED FOR OSISKO MINING’S ACQUISITION OF BEAUFIELD

 

Beaufield

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

 

Montréal, Québec and Toronto, Ontario (September 7, 2018) – Beaufield Resources Inc. (TSX-V: BFD) (“Beaufield“) and Osisko Mining Inc. (TSX: OSK) (“Osisko“) are pleased to announce that Beaufield has obtained an interim order from the Superior Court of Québec (the “Interim Order“) today in support of Osisko’s acquisition of Beaufield, which will be completed by way of a plan of arrangement under the Canada Business Corporations Act (the “Arrangement“). Details of the Arrangement are included in a joint press release of Beaufield and Osisko disseminated on August 14, 2018 (entitled “Osisko Mining to Acquire Beaufield Resources”).

The Interim Order, among other things, authorizes Beaufield to call and hold a special meeting of shareholders (the “Meeting“) to adopt a special resolution approving the Arrangement in accordance with the Canada Business Corporations Act. The Meeting will be held at 11:00 a.m. (EDT) on October 12, 2018 at the offices of Lavery, de Billy L.L.P., 1, Place Ville Marie, Suite 4000, Montréal, Québec.

Full details of the Arrangement will be included in Beaufield’s management information circular (the “Beaufield Circular“) expected to be mailed to shareholders of Beaufield the week of September 17, 2018 in connection with the Meeting. The Beaufield Circular, letter of transmittal and related proxy materials will, in due course, be available on SEDAR (www.sedar.com) under Beaufield’s issuer profile.

About Beaufield Resources Inc.

Beaufield is a mineral exploration company with its exploration activity focused in Québec and Ontario. Please refer to Beaufield’s website at www.beaufield.com to view the Beaufield’s properties in Urban, Eléonore-Opinaca, Tortigny, Hemlo and Launay.

 

For further information about Beaufield please contact:
Ronald Stewart
President and Chief Executive Officer
Telephone: (514) 842 3443

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-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in the Larder Lake mining division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. Osisko also holds interests and options in a number of additional properties in northern Québec and Ontario.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.