OSISKO MINING CORPORATE UPDATE

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

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

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

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

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

About Osisko Mining Inc.

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

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

OSISKO MINING INC. FILES EARLY WARNING REPORT IN RESPECT OF O3 MINING INC.

Toronto, Ontario (August 17, 2020) – Osisko Mining Inc. (TSX:OSK) (the “Corporation“) announces that it has filed an early warning report in respect of its holdings in O3 Mining Inc. (“O3 Mining“). On August 14, 2020, the Corporation entered into a purchase agreement with an arm’s length third party pursuant to which the Corporation agreed to dispose of an aggregate of 500,000 common shares of O3 Mining (the “O3 Shares“) at a price of $2.30 per O3 Share for aggregate consideration of $1,150,000 (the “Disposition“).

Immediately prior to giving effect to the Disposition, the Corporation had beneficial ownership of, or control and direction over, 18,777,898 O3 Shares, representing approximately 31.1% of the number of issued and outstanding O3 Shares (being 60,296,508 O3 Shares). Immediately after giving effect to the Disposition, the Corporation had beneficial ownership of, or control and direction over, 18,277,898 O3 Shares, representing approximately 30.3% of the issued and outstanding O3 Shares on a basic basis (based on there being 60,296,508 O3 Shares issued and outstanding as of the date hereof).

The Corporation disposed of such 500,000 O3 Shares in order to monetize a portion of its investment in O3 Mining. The Corporation intends to review, on a continuous basis, various factors related to its investment in O3 Mining, and may decide to acquire or dispose of additional securities of O3 Mining as future circumstances may dictate.

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 August 17, 2020. The early warning report respecting the Disposition has been filed on SEDAR (www.sedar.com) under O3 Mining’s 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 SEDAR (www.sedar.com) under O3 Mining’s issuer profile.

 

For further information on the Corporation please contact:

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

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

OSISKO INTERSECTS 202 g/t Au OVER 9.0 METRES AT WINDFALL

(Toronto, August 10, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

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

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

Significant new analytical results from 64 intercepts in 20 new drill holes and 12 wedges are presented below, including:  171 g/t Au over 2.5 metres in WST-20-0463; 173 g/t Au over 2.0 metres in OSK-W-20-2139-W8; 21.0 g/t Au over 13.0 metres in OSK-W-2256-W1; and 52.7 g/t Au over 2.2 metres  in WST-20-0447.  Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-1741-W3 696.0 698.0 2.0 3.97   Lynx_336 Lynx
  968.0 970.0 2.0 6.12   Lynx_329 Lynx
  1080.9 1083.1 2.2 20.7   Lynx_312 Lynx
including 1082.0 1083.1 1.1 35.8
OSK-W-20-2059-W4 993.5 995.6 2.1 3.14   Lynx_327 Lynx
including 994.2 994.5 0.3 18.0
  1037.5 1066.1 28.0 202  31.0 Lynx_348

 

Lynx

 

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

 

Notes: True widths are estimated at 30 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.

 

Drill hole location

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

 

Lynx Zone

Gold mineralization in the Lynx Zone occurs as two types: grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides, pyrite dominated with minor chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite, ranging from trace to up to 70% locally, and local visible gold. Replacement-type is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Both types of mineralization are at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

Triple Lynx

Gold mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 30-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

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

OSISKO EXPANSION DRILLING RETURNS HIGH GRADE AT LYNX

34.8 g/t Au over 10.4 Metres

26.1 g/t Au Over 5.3 Metres

(Toronto, July 16, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new drilling results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Twenty-two drills are active at Windfall (including 16 on surface and six underground), all currently focused on the Lynx deposit.

Osisko President and Chief Executive Officer John Burzynski commented: “The Lynx system remains open both towards surface and down plunge, and we expect to see additions to the Lynx resource by the end of the year.  Clearly the highest-grade portion of our Windfall deposit, Lynx continues to impress and provide good upside to the scale of our growing resource.  Lynx gave important additions to our February 2020 resource update (see Osisko news release dated February 19, 2020), and we expect to see that pattern continue.”

Significant new analytical results are presented below and include 59 intercepts in 15 drill holes, 22 wedges and 3 extensions of previously drilled holes.  All intercepts reported below are located outside the February 2020 mineral resource estimate wireframes and represent expansions of known mineralized zones.

Selected high-grade intercepts from the new results include: OSK-W-20-2266-W1, 30 metres up-plunge from wireframe Lynx_363, returned 34.8 g/t Au over 10.4 metres; OSK-W-20-2268, 70 metres up-plunge from wireframe Lynx_361, returned 26.1 g/t Au over 5.3 metres; OSK-W-20-2100-W6, 15 metres vertically towards surface from wireframe Lynx_371, returned 59.7 g/t Au over 2.2 metres; and OSK-W-20-2250-W1, 48 metres up-plunge from wireframe Lynx_372, returned 42.6 g/t Au over 2.2 metres. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole No From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t) cut Zone Corridor
OSK-W-18-1639 1078.9 1081.0 2.1 7.49   Lynx_327 Lynx
OSK-W-18-1731-W1 581.0 583.0 2.0 9.27   Lynx_322 Lynx
including 581.6 582.0 0.4 33.8
OSK-W-18-1741-W1 693.8 696.1 2.3 4.05   Lynx_336 Lynx
OSK-W-19-1166-W5 670.0 672.0 2.0 6.58 Lynx Lynx
  679.9 683.0 3.1 10.3 Lynx Lynx
OSK-W-19-1949-W3 642.2 644.6 2.4 4.38   Lynx_341 Lynx
OSK-W-19-2100-W2 1066.5 1068.5 2.0 35.7 26 Triple Lynx Triple Lynx
including 1067.3 1067.8 0.5 139 100
OSK-W-19-2101 787.0 789.0 2.0 3.84   Lynx_361 Triple Lynx
OSK-W-19-2139-W1 867.0 872.0 5.0 3.07   Triple Lynx Triple Lynx
OSK-W-19-2194 778.7 786.2 7.5 5.36   Triple Lynx Triple Lynx
  992.3 994.5 2.2 11.7   Lynx_350 Lynx
including 993.6 994.5 0.9 25.2
OSK-W-20-2059-W2 806.0 808.0 2.0 7.15   Lynx_333 Lynx
OSK-W-20-2059-W3 805.0 807.2 2.2 10.1   Lynx_330 Lynx
including 806.7 807.2 0.5 43.5
OSK-W-20-2100-W6 896.8 899.0 2.2 59.7 19 Lynx_371 Triple Lynx
including 896.8 897.2 0.4 324 100
OSK-W-20-2100-W7 888.4 890.5 2.1 22.7   Lynx_371 Triple Lynx
including 889.3 890.0 0.7 61.2
OSK-W-20-2139-W5 1006.0 1008.5 2.5 4.82   Triple Lynx Triple Lynx
OSK-W-20-2170-W5 1021.3 1023.7 2.4 9.55   Triple Lynx Triple Lynx
  1047.0 1049.4 2.4 9.54   Lynx_364 Triple Lynx
including 1047.0 1047.5 0.5 38.0
OSK-W-20-2202-W2 848.1 850.2 2.1 12.0   Lynx_367 Triple Lynx
including 849.9 850.2 0.3 49.4
  874.8 877.0 2.2 7.36   Triple Lynx Triple Lynx
OSK-W-20-2217-W1 753.8 759.2 5.4 3.04   Triple Lynx Triple Lynx
  948.0 950.0 2.0 4.36   Triple Lynx Triple Lynx
OSK-W-20-2217-W2 795.7 797.7 2.0 6.84   Triple Lynx Triple Lynx
  806.0 808.0 2.0 4.42   Triple Lynx Triple Lynx
OSK-W-20-2217-W3 760.4 764.0 3.6 21.8   Triple Lynx Triple Lynx
  910.0 912.0 2.0 19.7   Triple Lynx Triple Lynx
OSK-W-20-2243-W1 795.0 797.1 2.1 6.82   Lynx_363 Triple Lynx
including 795.3 796.1 0.8 15.9
  804.0 806.0 2.0 3.05   Lynx_363 Triple Lynx
820.8 824.3 3.5 15.4   Triple Lynx Triple Lynx
  923.0 927.0 4.0 5.34   Triple Lynx Triple Lynx
OSK-W-20-2243-W2 962.0 964.0 2.0 17.7   Triple Lynx Triple Lynx
OSK-W-20-2243-W3 782.9 791.0 8.1 10.8   Lynx_361 Triple Lynx
including 783.9 784.5 0.6 24.6
OSK-W-20-2250-W1 719.9 722.4 2.5 27.1   Triple Lynx Triple Lynx
including 720.9 721.8 0.9 47.0
  732.8 735.0 2.2 3.53   Triple Lynx Triple Lynx
  752.0 757.6 5.6 4.07   Triple Lynx Triple Lynx
  930.4 932.6 2.2 42.6 28 Lynx_372 Triple Lynx
including 930.4 931.0 0.6 154 100
OSK-W-20-2250-W2 787.0 792.0 5.0 11.1   Lynx_364 Triple Lynx
including 790.0 790.4 0.4 67.5
OSK-W-20-2253 833.8 835.9 2.1 3.33 Lynx Triple Lynx
OSK-W-20-2260 834.5 836.6 2.1 20.2   Lynx_361 Triple Lynx
including 834.8 835.2 0.4 93.4
OSK-W-20-2263 384.4 386.7 2.3 3.42   Lynx_311 Lynx
  522.3 524.3 2.0 29.4   Lynx_356 Lynx
including 522.9 523.4 0.5 68.9
  593.0 595.0 2.0 4.33 Lynx Triple Lynx
OSK-W-20-2266 731.8 734.0 2.2 10.3   Triple Lynx Triple Lynx
  752.0 755.0 3.0 10.8   Lynx_363 Triple Lynx
including 753.4 753.8 0.4 21.2
OSK-W-20-2266-W1 719.2 721.3 2.1 3.36   Triple Lynx Triple Lynx
  737.3 747.7 10.4 34.8 18.5 Lynx_363 Triple Lynx
including 742.4 743.0 0.6 373 100
and 746.4 746.7 0.3 119 100
OSK-W-20-2268 711.2 716.5 5.3 26.1 25.9 Lynx_361 Triple Lynx
including 711.7 712.2 0.5 102 100
and 713.0 713.8 0.8 49.3
OSK-W-20-2269 580.1 582.5 2.4 15.5 Lynx Lynx
WST-20-0286 80.0 82.0 2.0 6.52   Lynx_308 Lynx
including 80.0 81.0 1.0 12.8
WST-20-0376 129.9 132.0 2.1 37.3   Lynx_359 Lynx
including 129.9 130.2 0.3 93.8
WST-20-0377 137.5 141.0 3.5 28.7 21.6 Lynx_359 Lynx
including 138.0 138.3 0.3 79.1
and 138.6 139.0 0.4 163 100
WST-20-0416 326.4 329.6 3.2 27.6 Lynx Lynx
  336.0 338.1 2.1 4.13 Lynx Lynx
  695.2 697.2 2.0 9.85   Lynx_327 Lynx
including 695.8 696.3 0.5 18.7
and 696.3 696.6 0.3 27.4
  710.1 712.5 2.4 4.01   Lynx_327 Lynx
including 710.1 710.7 0.6 16.0
WST-20-0417 84.0 86.2 2.2 13.1   Lynx_307 Lynx
including 85.0 85.7 0.7 38.6
  316.0 318.2 2.2 17.6   Lynx Lynx
WST-20-0418 271.1 273.1 2.0 23.8   Lynx Lynx
  440.9 443.2 2.3 6.59   Lynx Lynx
WST-20-0437 113.0 115.3 2.3 3.51   Lynx_304 Lynx
including 113.0 113.3 0.3 14.8
WST-20-0443 107.0 109.0 2.0 7.56   Lynx_304 Lynx
WST-20-0459 327.2 330.0 2.8 23.2 Lynx Lynx

 

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-18-1639 142 -53 1164 453266 5435397 405 3625
OSK-W-18-1731-W1 139 -51 995 453383 5435518 409 3800
OSK-W-18-1741-W1 144 -48 1083 453328 5435466 406 3725
OSK-W-19-1166-W5 132 -59 1155 453621 5435638 405 4050
OSK-W-19-1949-W3 105 -57 1326 453440 5435479 401 3825
OSK-W-19-2100-W2 122 -47 1134 453095 5435726 423 3650
OSK-W-19-2101 18 -68 909 453426 5434779 396 3475
OSK-W-19-2139-W1 115 -52 1152 452980 5435549 420 3450
OSK-W-19-2194 135 -51 1122 453215 5435512 410 3650
OSK-W-20-2059-W2 131 -52 933 453446 5435477 400 3825
OSK-W-20-2059-W3 131 -52 1029 453446 5435477 400 3825
OSK-W-20-2100-W6 122 -47 1260 453095 5435726 423 3650
OSK-W-20-2100-W7 122 -47 1122 453095 5435726 423 3650
OSK-W-20-2139-W5 115 -52 1146 452980 5435549 420 3450
OSK-W-20-2170-W5 128 -59 1148 453425 5435657 413 3900
OSK-W-20-2202-W2 127 -54 1146 452997 5435606 424 3500
OSK-W-20-2217-W1 134 -48 1044 452943 5435566 419 3425
OSK-W-20-2217-W2 134 -48 893 452943 5435566 419 3425
OSK-W-20-2217-W3 134 -48 1128 452943 5435566 419 3425
OSK-W-20-2243-W1 122 -54 960 453087 5435527 418 3550
OSK-W-20-2243-W2 122 -54 972 453087 5435527 418 3550
OSK-W-20-2243-W3 122 -54 1062 453087 5435527 418 3550
OSK-W-20-2250-W1 132 -57 1060 453128 5435505 420 3575
OSK-W-20-2250-W2 132 -57 1080 453128 5435505 420 3575
OSK-W-20-2253 128 -54 924 452831 5435326 413 3225
OSK-W-20-2260 126 -48 1038 453199 5435669 413 3700
OSK-W-20-2263 128 -49 1029 452926 5435187 413 3225
OSK-W-20-2266 128 -55 1050 453069 5435476 418 3500
OSK-W-20-2266-W1 128 -55 1116 453069 5435476 418 3500
OSK-W-20-2268 127 -55 452 453148 5435489 418 3575
OSK-W-20-2269 133 -50 933 452972 5435211 416 3275
WST-20-0286 153 16 85 453228 5435126 136 3475
WST-20-0376 161 -39 166 453493 5435286 116 3775
WST-20-0377 161 -42 175 453493 5435286 116 3775
WST-20-0416 138 -52 801 453228 5435126 135 3475
WST-20-0417 138 -50 759 453228 5435126 134 3475
WST-20-0418 140 -49 744 453229 5435127 134 3475
WST-20-0437 152 -12 142 453450 5435265 116 3725
WST-20-0443 136 -19 219 453494 5435287 117 3775
WST-20-0459 153 -47 579 453228 5435126 134 3475

Lynx Zone

Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.

 

Triple Lynx Zone

Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

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

OSISKO INFILL DRILLING CONTINUES TO CONFIRM HIGH GRADE AT LYNX

119 g/t Au Over 5.0 Metres

31 g/t Au Over 6.2 Metres

(Toronto, July 14, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new drilling results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Twenty-two drills are active at Windfall (including 16 on surface and six underground), all currently focused on the Lynx deposit.

Osisko President and Chief Executive Officer John Burzynski commented: “Drilling at Windfall has returned to full capacity, and the Lynx system continues to deliver strong results. Each new set of infill drilling is confirming our confidence in our model, and moves us closer to the necessary spacing we require for the indicated resource we will use in our feasibility study next year.  Lynx is eclipsing the original Windfall deposit we acquired in 2015, and continues to give us very pleasant surprises as we drill out the system.”

Significant new analytical results from 40 intercepts in 16 drill holes and 5 wedges are presented below.

Selected high-grade intercepts from the new results include: 199 g/t Au over 5.0 metres in WST-20-0312; 103 g/t Au over 2.7 metres in WST-20-0313; 31.0 g/t Au over 6.2 metres in OSK-W-2243-W2; and 49.0 g/t Au over 2.4 metres  in WST-20-0417.  Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t) cut Zone Corridor
OSK-W-19-2221 607.0 609.0 2.0 4.93   Lynx_315 Lynx
including 608.3 609.0 0.7 11.7  
OSK-W-20-1272-W6 775.0 782.6 7.6 4.53   Lynx_371 Triple Lynx
  958.0 960.0 2.0 7.14   Lynx_369 Triple Lynx
  983.0 985.0 2.0 5.88   Lynx_370 Triple Lynx
OSK-W-20-1733-W1 869.7 873.9 4.2 4.11   Lynx_330 Lynx
including 869.7 870.0 0.3 11.0  
and 873.2 873.9 0.7 17.5  
OSK-W-20-1857-W12 1453.0 1455.5 2.5 10.2   Lynx_349 Lynx
  1457.5 1460.0 2.5 3.10   Lynx_349 Lynx
including 1457.5 1458.2 0.7 9.81  
OSK-W-20-2139-W6 939.0 941.3 2.3 23.1   Lynx_369 Triple Lynx
including 939.8 940.8 1.0 48.3  
OSK-W-20-2243-W2 789.0 795.2 6.2 31.0 16.5 Lynx_361 Triple Lynx
including 792.2 792.5 0.3 399 100
  804.5 807.0 2.5 10.9   Lynx_361 Triple Lynx
including 805.4 805.7 0.3 49.3  
  819.8 822.0 2.2 3.80   Lynx_363 Triple Lynx
including 819.8 820.1 0.3 11.6  
OSK-W-20-2269 368.9 371.0 2.1 3.85   Lynx_311 Lynx
WST-20-0312 59.0 61.6 2.6 63.1 44.6 Lynx_311 Lynx
including 59.7 60.8 1.1 144 100
  75.0 77.0 2.0 18.4   Lynx_308 Lynx
including 76.0 77.0 1.0 30.3  
  79.0 81.6 2.6 32.5 28.3 Lynx_310 Lynx
including 80.4 80.9 0.5 122 100
  85.0 87.0 2.0 23.9   Lynx_320 Lynx
  105.0 110.0 5.0 199 41.0 Lynx_304 Lynx
including 107.2 108.0 0.8 1085 100
WST-20-0313 57.0 59.0 2.0 6.86   Lynx_311 Lynx
  62.0 64.0 2.0 5.98   Lynx_311 Lynx
including 62.0 62.7 0.7 17.0  
  99.9 102.6 2.7 103 41.3 Lynx_304 Lynx
including 99.9 100.7 0.8 308 100
WST-20-0315 54.0 56.0 2.0 4.13   Lynx_311 Lynx
  60.5 62.7 2.2 31.6 31.2 Lynx_323 Lynx
including 61.3 61.9 0.6 102 100
WST-20-0415 80.0 82.0 2.0 9.34   Lynx_308 Lynx
including 80.0 81.0 1.0 14.0  
  85.0 87.0 2.0 3.83   Lynx_308 Lynx
WST-20-0417 480.8 483.2 2.4 49.0 44.0 Lynx_350 Lynx
including 481.3 482.2 0.9 114 100
  487.8 490.0 2.2 4.34   Lynx_350 Lynx
  687.0 689.1 2.1 3.28   Lynx_312 Lynx
including 687.3 687.8 0.5 11.7  
WST-20-0431 149.8 152.0 2.2 3.36   Lynx_304 Lynx
including 150.5 151.1 0.6 11.2  
WST-20-0433A 65.5 68.9 3.4 4.49   Lynx_311 Lynx
including 68.1 68.4 0.3 16.0  
WST-20-0434 125.0 127.5 2.5 5.14   Lynx_359 Lynx
including 126.5 126.8 0.3 28.5  
WST-20-0435 124.5 126.8 2.3 11.9   Lynx_359 Lynx
including 125.7 126.0 0.3 24.4  
WST-20-0436 117.1 119.2 2.1 7.89   Lynx_304 Lynx
including 117.5 117.8 0.3 33.5  
  122.5 125.3 2.8 12.9   Lynx_359 Lynx
including 124.9 125.3 0.4 36.0  
WST-20-0438 70.9 73.0 2.1 3.27   Lynx_311 Lynx
including 72.6 73.0 0.4 17.0  
  132.2 134.5 2.3 3.98   Lynx_359 Lynx
WST-20-0439 92.2 94.2 2.0 16.2   Lynx_323 Lynx
including 92.2 93.1 0.9 35.8  
  113.4 115.5 2.1 20.4   Lynx_304 Lynx
including 113.4 113.8 0.4 98.5  
WST-20-0442 132.0 134.0 2.0 4.19   Lynx_304 Lynx
  234.1 236.5 2.4 3.88   Lynx_301 Lynx
including 234.1 234.5 0.4 15.7  
WST-20-0445 216.1 218.1 2.0 7.63   Lynx_315 Lynx

 

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-19-2221 134 -49 789 453422 5435465 401 3800
OSK-W-20-1272-W6 127 -60 1035 453246 5435535 412 3675
OSK-W-20-1733-W1 138 -51 1206 453329 5435466 406 3725
OSK-W-20-1857-W12 108 -58 1554 453525 5435704 405 4000
OSK-W-20-2139-W6 115 -52 1089 452980 5435549 420 3450
OSK-W-20-2243-W2 122 -54 972 453087 5435527 418 3550
OSK-W-20-2269 133 -50 933 452972 5435211 416 3275
WST-20-0312 146 12 124 453292 5435139 164 3525
WST-20-0313 148 -28 133 453292 5435139 163 3525
WST-20-0315 142 -14 121 453292 5435139 163 3525
WST-20-0415 117 -7 131 453293 5435141 163 3525
WST-20-0417 138 -50 759 453228 5435126 134 3475
WST-20-0431 132 -44 244 453494 5435287 116 3775
WST-20-0433A 155 -32 157 453450 5435264 115 3725
WST-20-0434 156 -28 154 453450 5435264 115 3725
WST-20-0435 144 -27 277 453450 5435264 115 3725
WST-20-0436 143 -31 160 453450 5435265 117 3725
WST-20-0438 163 -16 145 453450 5435264 116 3725
WST-20-0439 142 -14 217 453450 5435265 116 3725
WST-20-0442 134 -32 265 453494 5435287 116 3775
WST-20-0445 143 -26 242 453494 5435287 117 3775

 

Lynx Zone

Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.

 

Triple Lynx Zone

Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

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

OSISKO MINING CLOSES C$177 MILLION “BOUGHT DEAL” PRIVATE PLACEMENT OF UNITS, INCLUDING FULL EXERCISE OF THE UNDERWRITERS’ OPTION

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

(Toronto, June 23, 2020) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce the completion of its previously-announced “bought deal” brokered private placement of an aggregate of 48,500,000 units of the Corporation (the “Units”) at a price of C$3.65 per Unit for aggregate gross proceeds of approximately C$177 million, including the exercise in full of the underwriters’ option (the “Offering”).

Each Unit consists of one common share of the Corporation and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles the holder to acquire one common share of the Corporation for 18 months from the closing of the Offering at a price of C$5.25, subject to adjustment in certain circumstances.

The net proceeds received from the Offering will be used to advance the Corporation’s Windfall Project as well as for working capital and general corporate purposes.

The Offering was led by Canaccord Genuity Corp. and Eight Capital, as co-lead underwriters, on behalf of a syndicate of underwriters that included BMO Capital Markets, National Bank Financial Inc., CIBC Capital Markets, Beacon Securities Limited, Echelon Wealth Partners Inc., Haywood Securities Inc. and Industrial Alliance Securities Inc. (collectively, the “Underwriters”). In consideration for their services, the Corporation paid the Underwriters a cash commission equal to 5.0% of the gross proceeds of the Offering, excluding certain President’s List subscribers.

All securities issued under the Offering will be subject to a hold period expiring four months and one day from the date hereof. The Offering is subject to final acceptance of the Toronto Stock Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

The following “insiders” of the Corporation have subscribed for Units under the Offering:

 

Insider Insider Relationship Units Purchased

(#)

Subscription Amount

($)

Robert Wares Director of Osisko Mining 125,000 $456,250
José Vizquerra Benavides Director of Osisko Mining 54,000 $197,100
Cathy Singer Director of Osisko Mining 6,800 $24,820
Andree St-Germain Director of Osisko Mining 5,400 $19,710
Keith McKay Director of Osisko Mining 5,000 $18,250
Lili Mance Senior Officer of Osisko Mining 8,200 $29,930
Blair Zaritsky Senior Officer of Osisko Mining 15,000 $54,750
Donald Njegovan Senior Officer of Osisko Mining 13,700 $50,005
Osisko Gold Royalties 10% securityholder of Osisko Mining 4,054,000 $14,797,100
Murray John Director of Osisko Gold Royalties (a 10% securityholder of Osisko Mining) 27,400 $100,010
  Totals 4,314,500 $15,747,925

 

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

About Osisko Mining Inc.

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

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the the use of proceeds of the Offering, the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the Toronto Stock Exchange and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward- looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the terms and duration of any government orders suspending or limiting operations that are applicable to Osisko; the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses; the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions. Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information, Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

For further information please contact:

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

 

OSISKO INFILL DRILLING CONTINUES TO CONFIRM HIGH GRADE AT LYNX

Including 376 g/t Au Over 2.0 Metres

And 35.2 g/t Au Over 4.3 Metres

(Toronto, June 23, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new drilling results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit, the main mineralized zones, and down plunge exploration in the central areas of the mineralized system.  Windfall camp is expected to return to full capacity with 21 drill rigs by the end of this week.

Osisko President and Chief Executive Officer John Burzynski commented: “Todays infill results continue to demonstrate the continuity of the high-grade values in Lynx and Triple Lynx, as we continue to intersect the zones where anticipated. The drill program remains focused on defining the Lynx deposit as well as targeting key areas up plunge and down plunge for growth potential.  We are also having good success in step-out drilling which will add to the scale of the deposit.”

Significant new analytical results from 33 intercepts in 18 drill holes and 7 wedges are presented below.

Selected high-grade intercepts from the new results include: 376 g/t Au over 2.0 metres in WST-20-0310; 23.8 g/t Au over 6.2 metres in OSK-W-19-2100-W5; 35.2 g/t Au over 4.3 metres in WST-20-0380; and 27.0 g/t Au over 4.5 metres in OSK-W-20-2250.  Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-19-1731-W4 534.7 539.6 4.9 7.76   Lynx_304 Lynx
including 534.7 535.2 0.5 36.5
and 538.9 539.6 0.7 17.6
OSK-W-19-2100-W5 962.0 968.2 6.2 23.8 20.3 Lynx_361 Triple Lynx
including 966.2 966.8 0.6 136 100
OSK-W-19-2204 69.4 71.5 2.1 4.85   Lynx_304 Lynx
including 70.8 71.5 0.7 14.2
OSK-W-20-1104-W7 470.0 472.0 2.0 7.98   Lynx_359 Lynx
including 470.7 471.2 0.5 29.4
OSK-W-20-2139-W7 867.0 869.0 2.0 4.41   Lynx_361 Triple Lynx
including 867.8 868.2 0.4 12.5
872.0 874.8 2.8 3.09   Lynx_361 Triple Lynx
894.0 896.6 2.6 3.01 Lynx_363 Triple Lynx
including 895.0 895.3 0.3 24.5
899.4 901.7 2.3 3.06 Lynx_363 Triple Lynx
OSK-W-20-2243-W1 828.1 833.3 5.2 5.43   Lynx_364 Triple Lynx
including 828.1 828.4 0.3 40.6
OSK-W-20-2243-W2 828.0 834.0 6.0 2.99   Lynx_363 Triple Lynx
OSK-W-20-2245 109.5 111.5 2.0 15.2   Lynx_311 Lynx
including 110.6 110.9 0.3 91.6
OSK-W-20-2250 799.5 804.0 4.5 27.0 14.7 Lynx_364 Triple Lynx
including 799.5 799.8 0.3 134 100
and 801.5 801.8 0.3 251 100
807.0 809.0 2.0 5.87 Lynx_364 Triple Lynx
OSK-W-20-2250-W1 767.0 769.0 2.0 5.65   Lynx_363 Triple Lynx
OSK-W-20-2252 871.1 873.6 2.5 3.21   Lynx_371 Triple Lynx
including 871.1 872.0 0.9 7.51
875.3 877.7 2.4 4.09   Lynx_371 Triple Lynx
including 876.3 877.0 0.7 10.6
WST-20-0309 58.0 60.5 2.5 14.0   Lynx_311 Lynx
including 58.5 59.5 1.0 34.8
WST-20-0310 63.7 65.7 2.0 376 34.4 Lynx_311 Lynx
including 63.7 64.2 0.5 1465 100
WST-20-0311 54.0 56.1 2.1 5.75   Lynx_311 Lynx
57.9 60.3 2.4 9.84   Lynx_311 Lynx
including 59.8 60.3 0.5 35.8
WST-20-0317 57.8 60.0 2.2 3.47   Lynx_311 Lynx
including 58.7 59.2 0.5 14.2
  64.4 66.4 2.0 13.7   Lynx_323 Lynx
including 65.4 66.4 1.0 26.8
WST-20-0319 58.7 62.3 3.6 23.6 21.1 Lynx_323 Lynx
including 60.5 60.9 0.4 122 100
and 61.9 62.3 0.4 80.5
WST-20-0320 73.0 75.6 2.6 15.5   Lynx_323 Lynx
including 74.9 75.6 0.7 44.5
WST-20-0380 52.9 57.2 4.3 35.2 30.4 Lynx_311 Lynx
including 56.2 57.2 1.0 121 100
WST-20-0384 125.0 127.0 2.0 25.5   Lynx_304 Lynx
including 125.0 125.4 0.4 62.8
and 126.5 127.0 0.5 50.0
WST-20-0417 65.0 67.5 2.5 4.81   Lynx_339 Lynx
WST-20-0428 130.5 132.8 2.3 3.40   Lynx_304 Lynx
including 131.5 132.2 0.7 9.97
WST-20-0430 124.7 127.0 2.3 15.7   Lynx_359 Lynx
including 125.1 125.5 0.4 88.8
WST-20-0432 126.0 128.0 2.0 9.25 Lynx_359 Lynx
including 126.0 126.4 0.4 43.7
WST-20-0433A 117.0 119.1 2.1 7.84   Lynx_304 Lynx
including 117.6 117.9 0.3 36.1
122.0 124.0 2.0 10.9   Lynx_359 Lynx
including 122.9 123.4 0.5 39.1
WST-20-0434 114.0 116.6 2.6 8.28   Lynx_304 Lynx
including 114.0 114.6 0.6 32.1

 

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

 

Drill hole location

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-19-1731-W4 139 -51 975 453383 5435518 409 3800
OSK-W-19-2100-W5 122 -47 1134 453095 5435726 423 3650
OSK-W-19-2204 326 -46 143 453254 5434979 398 3425
OSK-W-20-1104-W7 142 -50 867 453383 5435455 402 3775
OSK-W-20-2139-W7 115 -52 1164 452980 5435549 420 3450
OSK-W-20-2243-W1 122 -54 960 453087 5435527 418 3550
OSK-W-20-2243-W2 122 -54 972 453087 5435527 418 3550
OSK-W-20-2245 321 -49 153 453236 5434971 398 3400
OSK-W-20-2250 132 -57 1064 453128 5435505 420 3575
OSK-W-20-2250-W1 132 -57 1060 453128 5435505 420 3575
OSK-W-20-2252 129 -54 1194 453241 5435694 415 3750
WST-20-0309 172 -23 166 453292 5435139 163 3525
WST-20-0310 169 -33 97 453292 5435139 163 3525
WST-20-0311 152 -15 97 453292 5435140 163 3525
WST-20-0317 131 -23 127 453292 5435140 163 3525
WST-20-0319 134 -3 118 453293 5435140 163 3525
WST-20-0320 128 -16 124 453293 5435140 163 3525
WST-20-0380 159 11 85 453228 5435126 136 3475
WST-20-0384 160 -35 157 453493 5435286 116 3775
WST-20-0417 138 -50 759 453228 5435126 134 3475
WST-20-0428 143 -37 232 453493 5435287 116 3775
WST-20-0430 160 -29 148 453493 5435287 117 3775
WST-20-0432 149 -32 157 453450 5435264 115 3725
WST-20-0433A 155 -32 157 453450 5435264 115 3725
WST-20-0434 156 -28 154 453450 5435264 115 3725

 

Lynx Zone

Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.

 

Triple Lynx Zone

Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

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

OSISKO RELEASES 2019 SUSTAINABLE DEVELOPMENT REPORT

(Toronto, June 18, 2020) Osisko Mining Inc. (OSK:TSX “Osisko” or the “Corporation”), is pleased to announce that it has published its 2019 Sustainable Development report which provides a detailed overview of the Company’s environmental, social, and governance (ESG) performance and economic contributions to the communities in which we operate. The report is available on the Osisko website www.osiskomining.com in English and French.

Osisko Mining believes that being a good corporate citizen involves delivering environmental stewardship, protecting the health and well-being of our workforce and our neighbours, engaging with stakeholders and being an economic stimulus for our host communities.

Our focus is to deliver lasting value to our stakeholders, our host communities and our employees. As reflected in our core values, a sustainable business must be ethical, creative and efficient, as well as respectful, engaged and inclusive. By understanding and listening to our stakeholders, we look for innovative ways to address both societal and economic expectations.

 

We have anchored sustainability in our business strategy through our policies. We monitor our performance in the pillars of society, health and safety, environment and economy, and align our strategies to meet new challenges.

The report covers Osisko Mining Inc. activities on our Windfall, Quévillon, Osborne-Bell and Urban Barry projects. It describes our ESG performance from January 1 to December 31, 2019 and gives comparative data from previous years.

About Osisko Mining Inc.

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

CONTACT INFORMATION:

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

Annual Meeting of Shareholders Report of Voting Results

ANNUAL MEETING OF SHAREHOLDERS
of
OSISKO MINING INC. (the “Corporation”)

May 29, 2020

REPORT OF VOTING RESULTS

National Instrument 51-102 – Continuous Disclosure Obligations

MATTERS VOTED UPON
    Votes By Ballot:
  Outcome of Vote Votes For Votes Withheld
1. The appointment of PricewaterhouseCoopers LLP, as auditor of the Corporation for the ensuing year and authorizing the directors to fix their remuneration Carried 214,873,544 (99.71%) 630,899 (0.29%)
  Votes By Ballot:
Outcome of Vote Votes For Votes Withheld
2. The election of the following nominees as directors of the Corporation for the ensuing year or until their successors are duly elected or appointed:
John Burzynski Elected 200,179,929 (99.42%) 1,168,184 (0.58%)
José Vizquerra Benavides Elected 198,066,705 (98.37%) 3,281,408 (1.63%)
Sean Roosen Elected 198,269,197 (98.47%) 3,078,916 (1.53%)
Patrick F.N. Anderson Elected 199,211,221 (98.94%) 2,136,892 (1.06%)
Keith McKay Elected 199,187,777 (98.93%) 2,160,336 (1.07%)
Amy Satov Elected 199,491,686 (99.08%) 1,856,427 (0.92%)
Bernardo Alvarez Calderon Elected 199,486,523 (99.08%) 1,861,590 (0.93%)
Robert Wares Elected     198,247,951 (98.46%) 3,100,162 (1.54%)
Andrée St-Germain Elected     199,095,196 (98.88%) 2,252,917 (1.12%)
Cathy Singer Elected     199,948,356 (99.31%) 1,399,757 (0.70%)