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%)

 

OSISKO MINING ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

Toronto, Ontario (May 29, 2020) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation“) is pleased to announce the results of its annual meeting of shareholders (the “Meeting“) held earlier today.

A total of 215,532,162 common shares of the Corporation were represented at the Meeting, representing approximately 74.05% of the total number of common shares of the Corporation issued and outstanding.

All matters presented for approval at the Meeting were duly authorized and approved, as follows:

  • election of all ten management nominees to the board of directors of the Corporation; and
  • appointment of PricewaterhouseCoopers LLP as auditors of the Corporation for the ensuing year and authorization of the directors to fix their remuneration.

Detailed voting results regarding the election of directors are as follows:

 

Name Voted For
(#)
Voted For
(%)
Voted Withhold
(#)
Voted Withhold
(%)
John Burzynski 200,179,929 99.42% 1,168,184 0.58%
José Vizquerra Benavides 198,066,705 98.37% 3,281,408 1.63%
Sean Roosen 198,269,197 98.47% 3,078,916 1.53%
Patrick F.N. Anderson 199,211,221 98.94% 2,136,892 1.06%
Keith McKay 199,187,777 98.93% 2,160,336 1.07%
Amy Satov 199,491,686 99.08% 1,856,427 0.92%
Bernardo Alvarez Calderon 199,486,523 99.08% 1,861,590 0.93%
Robert Wares 198,247,951 98.46% 3,100,162 1.54%
Andrée St-Germain 199,095,196 98.88% 2,252,917 1.12%
Cathy Singer 199,948,356 99.31% 1,399,757 0.70%

Further details on the above matters, including the report of voting results thereon, are 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% 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 the Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

For further information please contact:

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

INDEPENDENT PROXY ADVISORY FIRM INSTITUTIONAL SHAREHOLDER SERVICES RECOMMENDS OSISKO SHAREHOLDERS VOTE FOR ALL PROPOSED ITEMS AT THE ANNUAL GENERAL MEETING

(Toronto, May 19, 2020) Osisko Mining Inc. (“Osisko”) (TSX: OSK) is pleased to announce that Institutional Shareholder Services (“ISS”) has recommended that shareholders vote FOR all proposed items to be considered at its upcoming annual meeting of shareholders (“the Meeting”).

ISS is a prominent, third party proxy advisory firm who, among other services, provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.  ISS made their recommendation that shareholders vote FOR all the proposed items at this year’s annual meeting of shareholders.

Osisko encourages shareholders to read the meeting materials in detail.  Copies of the meeting material is available under Osisko’s profile on SEDAR at www.sedar.com and on Osisko’s website at http://www.osiskomining.com

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY

The Osisko Board of Directors UNANIMOUSLY recommends that Shareholders

Vote IN FAVOUR of All the Proposed Items.

Submit your vote well in advance of the proxy voting deadline at 10:00 a.m. Toronto time on Wednesday May 27, 2020

 

Shareholders are encouraged to vote using the internet or telephone, to ensure your vote is received in a timely manner.

Registered shareholders may vote by:  Shares held in own name and represented by a physical certificate

Beneficial shareholders (shares held with a broker, bank or other intermediary) may vote by:

  • Following the instructions on your voting instruction forms

Osisko Meeting

The Meeting is scheduled for 10:00 a.m. (Toronto Time) on Friday, May 29, 2020.  Join us via Teleconference. Dial 1-855-342-6455 (North America Toll Free) or 1-416-933-3853 (Outside North America).  Conference ID 2526184. Participants should dial in 5-10 minutes prior to the scheduled start time of the meeting. 

Shareholder Questions and Assistance

If you have any questions or require assistance voting your Osisko shares, please contact our proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 toll-free in North America, or call collect outside North America at +1 416 304-0211, or by e-mail at assistance@laurelhill.com

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Québec, Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val d’Or and Chibougamau and has 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).

 

OSISKO RESUMES OPERATIONS AT WINDFALL

(Toronto, May 15, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) announced today that in accordance with permission from the Government of Quebec to resume exploration activities, and in close collaboration with the Cree First Nation of Waswanipi and the Cree Nation Government, a path has been identified for the resumption of operations at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. The collaboration builds on a long standing positive relationship which has allowed the Cree Nation and Osisko to address difficult subjects during these challenging times and provides for mutual support in ensuring the safety of community members and the work force of Osisko Mining Inc.

The initial group of employees and contractors have returned to the Windfall site, and drilling operations with six rigs will recommence this weekend.  Additional drills and workers will progressively return to work over the course of the coming weeks, with operations expected to return to full capacity by late June.  The health and safety of Osisko’s workforce, their families and the communities in which we operate remains the number one priority for Osisko.  Osisko is committed to fully supporting safety measures recommended by the Quebec Public Health Expertise and Reference Centre and by the CNESST for our workforce, families and communities.  Osisko thanks our workforce, partners and all stakeholders for their understanding and support, and looks forward to a safe and measured approach to the return to work.

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 Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the term of any Government order, or of the suspension of operations described therein; 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. 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

 

INDEPENDENT PROXY ADVISORY FIRM GLASS LEWIS RECOMMENDS OSISKO SHAREHOLDERS VOTE FOR ALL PROPOSED ITEMS AT THE ANNUAL GENERAL MEETING

(Toronto, April 30, 2020) Osisko Mining Inc. (“Osisko”) (TSX: OSK) is pleased to announce that Glass Lewis & Co. (“Glass Lewis”) has recommended that shareholders vote FOR all proposed items to be considered at its upcoming annual meeting of shareholders (“the Meeting”).

Glass Lewis is a prominent, third party proxy advisory firm who, among other services, provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.  Glass Lewis made their recommendation yesterday that shareholders vote FOR all the proposed items at this year’s annual meeting of shareholders.

Osisko encourages shareholders to read the meeting materials in detail.  Copies of the meeting material is available under Osisko’s profile on SEDAR at www.sedar.com and on Osisko’s website at http://www.osiskomining.com

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY

The Osisko Board of Directors UNANIMOUSLY recommends that Shareholders
Vote IN FAVOUR of All the Proposed Items.
Submit your vote well in advance of the proxy voting deadline at 10:00 a.m. Toronto time on Wednesday May 27, 2020

 

Shareholders are encouraged to vote using the internet or telephone, to ensure your vote is received in a timely manner.

 

Registered shareholders may vote by:  Shares held in own name and represented by a physical certificate

 

Beneficial shareholders (shares held with a broker, bank or other intermediary) may vote by:

  • Following the instructions on your voting instruction forms

 

Osisko Meeting

The Meeting is scheduled for 10:00 a.m. (Toronto Time) on Friday, May 29, 2020.  Join us via Teleconference. Dial 1-855-342-6455 (North America Toll Free) or 1-416-933-3853 (Outside North America).  Conference ID 2526184. Participants should dial in 5-10 minutes prior to the scheduled start time of the meeting.

 

 

Shareholder Questions and Assistance

If you have any questions or require assistance voting your Osisko shares, please contact our proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 toll-free in North America, or call collect outside North America at +1 416 304-0211, or by e-mail at assistance@laurelhill.com

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Québec, Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val d’Or and Chibougamau and has 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).

 

OSISKO INFILL DRILLING INTERSECTS HIGH GRADE IN LYNX

Triple Lynx Zone Extended 120 Metres Up Plunge Returning 35.3 g/t Au over 2.7 Metres

(Toronto, April 29, 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.

Operations remain temporarily suspended in respect of the Government of Québec’s closure of all non-essential business in effort to contain COVID-19. When drilling resumes, it will remain focused on the Lynx deposit, the main mineralized zones, and down plunge exploration in the central areas of the mineralized system.

Significant new analytical results from the definition drilling program on Lynx and Triple Lynx are presented below and include 44 intercepts in 16 drill holes, 2 extensions and 13 wedges.

Of note is drill hole OSK-W-20-2217-W2 which returned 35.3 g/t Au over 2.7 metres, confirming the up-plunge extension of the Triple Lynx zone 120 metres from nearest wireframe (see Osisko news release dated February 19, 2020). Also, drill hole OSK-W-19-2170 returned 40.2 g/t Au over 3.5 metres confirming high grade in the down plunge area of Triple Lynx.

Selected high-grade intercepts from new results include: 104 g/t Au over 2.0 metres in WST-20-0323; 76.5 g/t Au over 2.6 metres in OSK-W-18-1747-W1; 41.2 g/t Au over 4.2 metres in WST-20-0386; and 73.6 g/t Au over 2.3 metres in OSK-W-19-1193-W2.  Maps showing hole locations and full analytical results are available at www.osiskomining.com.

Infill Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t) cut to 100 g/t Zone Corridor
OSK-W-17-1000 573.0 577.3 4.3 8.92   Lynx_301 Lynx
including 573.0 574.0 1.0 17.1  
OSK-W-18-1639 754.0 757.0 3.0 8.80   Lynx_336 Lynx
including 754.0 755.0 1.0 15.6  
OSK-W-18-1741-W1 916.1 918.7 2.6 76.5 50.0 Lynx_329 Lynx
including 916.1 917.0 0.9 177 100
  926.0 928.0 2.0 4.90   Lynx 4 Lynx
OSK-W-19-1104-W4 470.6 473.0 2.4 3.42   Lynx_359 Lynx
including 471.3 471.6 0.3 25.6  
  575.0 577.7 2.7 3.72   Lynx_321 Lynx
including 576.5 576.9 0.4 17.6  
OSK-W-19-1193-W2 928.2 930.5 2.3 73.6 30.6 Lynx_314 Lynx
including 928.6 929.2 0.6 265 100
OSK-W-19-1731-W2 591.0 593.0 2.0 7.70   Lynx_322 Lynx
including 591.0 592.0 1.0 14.5  
OSK-W-19-2059-W1 833.9 836.3 2.4 11.1   Lynx_313 Lynx
including 834.8 835.7 0.9 27.3  
OSK-W-19-2067-W4 1028.0 1030.5 2.5 3.25   Lynx_368 Lynx
OSK-W-19-2139-W2 887.4 894.0 6.6 8.34   Lynx_363 Lynx
OSK-W-19-2170 923.1 926.6 3.5 40.2   Triple Lynx Triple Lynx
including 923.7 924.7 1.0 98.0  
OSK-W-19-2197 759.8 762.0 2.2 4.04   Lynx Lynx
OSK-W-20-1272-W6 898.0 900.0 2.0 10.2   Lynx_364 Triple Lynx
including 899.0 899.4 0.4 45.2  
OSK-W-20-1741-W2 860.0 862.0 2.0 3.20   Lynx_347 Lynx
  899.0 901.0 2.0 4.29   Lynx_313 Lynx
including 899.4 900.0 0.6 13.6  
OSK-W-20-2059-W3 701.3 704.0 2.7 11.2   Lynx_315 Lynx
including 703.1 704.0 0.9 29.3  
OSK-W-20-2217-W1 877.0 879.0 2.0 3.29   Triple Lynx Triple Lynx
including 877.0 877.4 0.4 9.71  
OSK-W-20-2217-W2 755.2 757.9 2.7 35.3 17.0 Triple Lynx Triple Lynx
including 756.3 756.6 0.3 265 100
OSK-W-20-2243-W1 814.0 816.0 2.0 5.36   Lynx_363 Lynx
WST-19-0328 118.0 120.0 2.0 25.9   Lynx_304 Lynx
including 118.5 119.0 0.5 99.1  
WST-20-0260 8.8 10.9 2.1 10.1   Lynx_310 Lynx
including 8.8 9.4 0.6 26.9  
  51.0 53.0 2.0 6.29   Lynx_304 Lynx
including 51.7 52.1 0.4 31.0  
WST-20-0261 55.0 57.0 2.0 8.28   Lynx_304 Lynx
including 55.7 56.2 0.5 32.9  
WST-20-0308 52.6 54.7 2.1 4.56   Lynx_311 Lynx
including 53.6 54.1 0.5 16.9  
  81.1 83.4 2.3 3.48   Lynx_320 Lynx
  95.0 98.3 3.3 4.09   Lynx_319 Lynx
WST-20-0316 58.7 61.1 2.4 19.7   Lynx_311 Lynx
WST-20-0319 66.8 69.8 3.0 24.3 18.8 Lynx_323 Lynx
including 69.4 69.8 0.4 141 100
  77.6 80.0 2.4 3.95   Lynx_308 Lynx
  86.0 88.0 2.0 8.09   Lynx_320 Lynx
including 86.0 86.5 0.5 31.4  
  94.5 97.1 2.6 22.6   Lynx_304 Lynx
including 94.5 94.9 0.4 94.4  
WST-20-0321 50.2 53.0 2.8 4.32   Lynx_303 Lynx
including 50.2 51.0 0.8 15.1  
  65.4 67.8 2.4 3.55   Lynx_323 Lynx
WST-20-0323 68.5 70.5 2.0 104 35.9 Lynx_323 Lynx
including 69.1 69.8 0.7 296 100
WST-20-0367A 110.0 112.0 2.0 4.31   Lynx_323 Lynx
including 110.0 110.6 0.6 14.3  
  126.7 128.8 2.1 4.97   Lynx_359 Lynx
including 127.6 128.4 0.8 12.9  
WST-20-0377 125.1 127.2 2.1 4.56   Lynx_304 Lynx
WST-20-0386 134.1 138.3 4.2 41.2 22.4 Lynx_304 Lynx
including 138.0 138.3 0.3 363 100
WST-20-0413 77.0 79.0 2.0 3.44   Lynx_323 Lynx
  85.8 88.0 2.2 24.3   Lynx_308 Lynx
including 85.8 86.9 1.1 48.3  
  99.5 101.7 2.2 18.9   Lynx_304 Lynx
including 101.2 101.7 0.5 69.6  
WST-20-0414 59.7 62.0 2.3 4.43   Lynx_311 Lynx
including 61.1 61.4 0.3 24.9  
WST-20-0426 141.0 143.4 2.4 9.12   Lynx_304 Lynx
including 142.2 142.8 0.6 28.8  

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-17-1000 142 -50 786 453408 5435462 401 3800
OSK-W-18-1639 142 -53 1164 453266 5435397 405 3625
OSK-W-18-1741-W1 144 -48 1083 453328 5435466 406 3725
OSK-W-19-1104-W4 142 -50 933 453383 5435455 402 3775
OSK-W-19-1193-W2 141 -59 1095 453807 5435721 400 4275
OSK-W-19-1731-W2 139 -51 996 453383 5435518 409 3800
OSK-W-19-2059-W1 131 -52 1041 453446 5435477 400 3825
OSK-W-19-2067-W4 123 -53 1203 453241 5435697 416 3750
OSK-W-19-2139-W2 115 -52 1203 452980 5435549 420 3450
OSK-W-19-2170 128 -59 1203 453425 5435657 413 3900
OSK-W-19-2197 121 -48 1059 453087 5435527 418 3550
OSK-W-20-1272-W6 127 -60 1035 453246 5435535 412 3675
OSK-W-20-1741-W2 144 -48 972 453328 5435466 406 3725
OSK-W-20-2059-W3 131 -52 1029 453446 5435477 400 3825
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-20-2243-W1 122 -54 960 453087 5435527 418 3550
WST-19-0328 139 39 141 453217 5435115 225 3450
WST-20-0260 169 34 87 453298 5435067 206 3500
WST-20-0261 169 25 73 453298 5435066 205 3500
WST-20-0308 172 -13 160 453291 5435139 163 3525
WST-20-0316 133 -19 124 453292 5435139 163 3525
WST-20-0319 134 -3 118 453292 5435139 163 3525
WST-20-0321 127 -22 133 453292 5435139 163 3525
WST-20-0323 115 6 151 453292 5435140 163 3525
WST-20-0367A 163 -34 166 453450 5435264 115 3725
WST-20-0377 161 -42 175 453493 5435286 116 3775
WST-20-0386 163 -47 178 453493 5435286 116 3775
WST-20-0413 119 -21 139 453292 5435140 163 3525
WST-20-0414 136 -14 121 453292 5435139 163 3525
WST-20-0426 142 -47 172 453493 5435287 116 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 – NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

TORONTO, April 24, 2020 – Osisko Mining Inc. (“Osisko” or the “Corporation”) (TSX: OSK) is pleased to announce that it has filed and commenced mailing of the notice of meeting and management information circular in connection with its annual meeting of shareholders (“the Meeting”) to be held on May 29, 2020 at 10:00 a.m. (Toronto time), at the offices of 155 University Avenue, Suite 1440, Toronto, Ontario, Canada, M5H 3B7.

In view of the current health risks associated with large public gatherings, due to COVID-19, shareholders are asked to not attend the meeting in person, particularly if they are experiencing any of the described COVID-19 symptoms of fever, cough or difficulty breathing. Instead, shareholders will have an equal opportunity regardless of their geographic location to participate in the Meeting by dialing in to our conference line at 1-855-342-6455 (North America Toll Free) or 1-416-933-3853 (Outside North America), followed by the Conference ID 2526184.   Participants should dial in 5-10 minutes prior to the scheduled start time of the meeting.

Additionally, shareholders are encouraged to vote in advance via electronic means prior to the Meeting. To ensure votes are received in a timely manner, shareholders may vote via the internet, by telephone or by facsimile according to the instructions found on the voting form mailed to them.

The Board of Directors Recommends a Vote FOR All Proposed Resolutions.

The proxy deadline to submit votes is on May 27, 2020 at 10:00 a.m. (Toronto time).

The Circular and other relevant materials are available on the Corporation’s website at www.osiskomining.com, or on SEDAR at www.sedar.com under the Corporation’s issuer profile.

Shareholder Questions:

Shareholders who have any questions or require assistance with voting may contact

Osisko’s Proxy Solicitation Agent:

Laurel Hill Advisory Group

Toll Free: 1‐877‐452‐7184

International: +1 416‐304‐0211 outside Canada and the US

By Email: assistance@laurelhill.com

About Osisko Mining

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).

 

OSISKO INFILL DRILLING RETURNS MORE HIGH GRADE VALUES IN LYNX

Including 153 g/t Au over 3.4 Metres

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

Operations remain temporarily suspended in respect of the Government of Québec’s closure of all non-essential business in effort to contain COVID-19. Osisko is ready to resume drilling activities at Windfall once the temporary suspension is lifted. Drilling will remain focused on the Lynx deposit, exploration on the main mineralized zones, and deep exploration in the central areas of the mineralized system.  Additional results from pre-shut down drilling will continue to be released as they become available in the coming weeks. These analytical results are from laboratories outside Québec that have continued sample processing operations.

Significant new analytical results from Lynx and Triple Lynx are presented below, including 62 intercepts in 27 drill holes and 8 wedges.

Selected high-grade intercepts include: 153 g/t Au over 3.4 metres in WST-19-0234; 108 g/t Au over 2.2 metres in WST-20-0372; 99.2 g/t Au over 2.0 metres in WST-20-0286; 91.3 g/t Au over 2.0 metres in OSK-W-20-2139-W6 and 51.6 g/t Au over 2.8 metres in OSK-W-20-2100-W6. 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-18-1639 875.0 877.0 2.0 23.7 Lynx_350 Lynx
including 875.0 876.0 1.0 45.3
OSK-W-20-1072-W5 867.1 869.1 2.0 54.1 18.0 Lynx_330 Lynx
including 868.8 869.1 0.3 341 100
  884.0 886.0 2.0 30.8 Lynx_340 Lynx
including 884.0 885.0 1.0 56.5
  1079.5 1081.5 2.0 3.17 Lynx 4 Lynx
including 1080.4 1080.7 0.3 19.4
OSK-W-20-1272-W6 789.2 792.0 2.8 8.13 Lynx_371 Lynx
including 790.1 790.8 0.7 22.2
  797.0 799.1 2.1 7.56 Lynx_371 Lynx
  804.0 806.0 2.0 4.66 Lynx_361 Lynx
  809.6 812.0 2.4 5.94 Lynx_361 Lynx
  818.1 821.0 2.9 4.82 Lynx_361 Lynx
  823.0 825.0 2.0 3.28 Lynx_361 Lynx
  831.9 835.4 3.5 5.94 Lynx_361 Lynx
including 835.0 835.4 0.4 28.0
  853.0 856.0 3.0 4.36 Lynx_368 Lynx
  859.0 861.0 2.0 3.67 Lynx_368 Lynx
  901.0 903.0 2.0 18.3 Lynx_364 Lynx
including 902.0 903.0 1.0 34.6
OSK-W-20-1731-W6 542.4 545.0 2.6 39.3 35.9 Lynx_310 Lynx
including 543.0 543.9 0.9 110 100
  577.4 580.2 2.8 11.5 Lynx_305 Lynx
including 577.4 577.7 0.3 59.9
  1000.5 1003.0 2.5 4.90   Lynx_327 Lynx
OSK-W-20-2100-W6 927.5 930.3 2.8 51.6 34.3 Lynx_361 Lynx
including 928.9 929.2 0.3 262 100
OSK-W-20-2100-W9 931.0 933.0 2.0 4.38 Lynx_361 Lynx
OSK-W-20-2123-W4 1112.0 1114.0 2.0 3.13 Lynx_368 Lynx
  1168.0 1173.0 5.0 8.48 Lynx_364 Lynx
  1184.0 1186.5 2.5 7.70 Lynx_370 Lynx
OSK-W-20-2139-W6 874.8 876.8 2.0 91.3 45.7 Lynx_361 Lynx
including 876.0 876.4 0.4 328 100
OSK-W-20-2202-W2 969.6 972.0 2.4 14.2 13.3 Lynx_363 Lynx
including 970.1 970.4 0.3 107 100
OSK-W-20-2243 789.6 792.0 2.4 19.4 18.4 Lynx_361 Lynx
including 790.2 790.5 0.3 108 100
  795.0 797.0 2.0 7.13 Lynx_361 Lynx
  800.1 802.4 2.3 5.01 Lynx_361 Triple Lynx
WST-19-0234 69.2 72.6 3.4 153 17.8 Lynx_311 Lynx
Including 69.2 69.5 0.3 1630 100
WST-19-0239 66.6 69.1 2.5 9.88 Lynx_311 Lynx
including 68.5 69.1 0.6 37.9
WST-19-0240 74.4 77.0 2.6 9.52 Lynx_308 Lynx
including 74.4 74.8 0.4 56.2
WST-20-0283 65.6 68.0 2.4 6.95 Lynx_311 Lynx
including 66.3 66.8 0.5 24.8
WST-20-0285 113.9 116.0 2.1 3.93 Lynx_320 Lynx
including 114.8 115.3 0.5 15.3
  118.0 120.0 2.0 3.35 Lynx_319 Lynx
including 118.6 119.2 0.6 10.9
WST-20-0286 54.3 56.3 2.0 99.2 55.1 Lynx_311 Lynx
including 55.7 56.3 0.6 247 100
WST-20-0294 67.9 70.0 2.1 19.7 Lynx_311 Lynx
including 67.9 68.8 0.9 45.5
WST-20-0295 63.6 65.6 2.0 27.0 21.0 Lynx_311 Lynx
including 64.9 65.3 0.4 130 100
WST-20-0302 74.0 76.2 2.2 5.09 Lynx_311 Lynx
including 75.6 76.2 0.6 17.7
WST-20-0322 68.8 71.0 2.2 24.6 13.8 Lynx_323 Lynx
including 68.8 69.1 0.3 179 100
  129.5 131.5 2.0 12.3 Lynx_306 Lynx
including 130.6 131.5 0.9 26.0
WST-20-0337 68.0 70.1 2.1 6.21 Lynx_323 Lynx
including 69.4 70.1 0.7 12.6
  90.0 92.5 2.5 6.10 Lynx_304 Lynx
including 90.0 90.3 0.3 38.7
WST-20-0340 78.5 80.6 2.1 8.07 Lynx_323 Lynx
including 78.5 79.2 0.7 23.9
  87.7 89.7 2.0 69.2 62.2 Lynx_304 Lynx
including 88.3 89.1 0.8 118 100
  111.0 113.0 2.0 4.40 Lynx_359 Lynx
WST-20-0359 107.0 109.3 2.3 3.04 Lynx_304 Lynx
WST-20-0362 119.0 121.0 2.0 3.45 Lynx_359 Lynx
WST-20-0363 68.9 71.0 2.1 4.49 Lynx_311 Lynx
  115.5 118.0 2.5 3.16 Lynx_304 Lynx
including 116.3 116.7 0.4 17.9
  122.0 124.5 2.5 16.3 Lynx_359 Lynx
including 123.0 123.8 0.8 50.2
WST-20-0364 110.0 112.0 2.0 7.37 Lynx_304 Lynx
including 111.3 111.6 0.3 17.9
WST-20-0365 120.7 123.0 2.3 3.44 Lynx_359 Lynx
including 122.7 123.0 0.3 14.6
WST-20-0371 136.8 138.9 2.1 13.7 Lynx_304 Lynx
including 138.3 138.9 0.6 43.9
WST-20-0372 126.5 128.5 2.0 5.67 Lynx_304 Lynx
including 127.7 128.0 0.3 31.4
  130.0 132.7 2.7 23.2 17.5 Lynx_304 Lynx
including 132.3 132.7 0.4 139 100
  205.6 207.8 2.2 108 31.7 Lynx_322 Lynx
including 206.6 207.2 0.6 378 100
WST-20-0378 146.0 148.3 2.3 20.6 Lynx_304 Lynx
including 147.0 147.7 0.7 45.9
  200.0 202.2 2.2 18.6 Lynx_322 Lynx
including 200.5 200.9 0.4 95.3
WST-20-0379A 132.0 134.4 2.4 4.54 Lynx_304 Lynx
including 133.5 133.9 0.4 18.8
WST-20-0381 54.1 56.4 2.3 38.1 35.2 Lynx_311 Lynx
including 54.1 54.9 0.8 109 100
WST-20-0382 52.1 54.4 2.3 6.08 Lynx_309 Lynx
WST-20-0383 50.0 52.0 2.0 3.03 Lynx_309 Lynx
including 50.4 51.3 0.9 6.69
WST-20-0390 111.0 113.8 2.8 22.9 18.2 Lynx_304 Lynx
including 112.1 112.6 0.5 127 100

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-18-1639 142 -53 1164 453266 5435397 405 3625
OSK-W-20-1072-W5 145 -57 1262 453612 5435532 399 4000
OSK-W-20-1272-W6 127 -60 1035 453246 5435535 412 3675
OSK-W-20-1731-W6 139 -51 1068 453383 5435518 409 3800
OSK-W-20-2100-W6 122 -47 1260 453093 5435726 419 3650
OSK-W-20-2100-W9 122 -47 1074 453093 5435726 419 3650
OSK-W-20-2123-W4 126 -57 1236 453231 5435774 400 3775
OSK-W-20-2139-W6 115 -52 1089 452980 5435549 420 3450
OSK-W-20-2202-W2 127 -54 1146 452999 5435606 424 3500
OSK-W-20-2243 122 -54 815 453087 5435527 418 3550
WST-19-0234 150 17 157 453216 5435114 224 3450
WST-19-0239 173 1 91 453215 5435114 223 3450
WST-19-0240 135 -3 178 453217 5435115 223 3450
WST-20-0283 165 25 214 453228 5435126 137 3475
WST-20-0285 161 25 211 453228 5435126 137 3475
WST-20-0286 153 16 85 453228 5435126 136 3475
WST-20-0294 131 13 96 453228 5435126 135 3475
WST-20-0295 131 -7 166 453229 5435127 135 3475
WST-20-0302 112 -30 120 453229 5435126 135 3475
WST-20-0322 125 6 154 453292 5435140 163 3525
WST-20-0337 145 -6 203 453411 5435230 114 3675
WST-20-0340 147 -26 135 453410 5435229 114 3675
WST-20-0359 151 -17 145 453450 5435264 115 3725
WST-20-0362 156 -14 148 453450 5435264 115 3725
WST-20-0363 157 -30 154 453450 5435264 115 3725
WST-20-0364 157 -25 282 453450 5435264 115 3725
WST-20-0365 158 -8 142 453450 5435264 116 3725
WST-20-0371 145 -47 163 453493 5435287 116 3775
WST-20-0372 148 -42 451 453493 5435287 116 3775
WST-20-0378 144 -50 253 453493 5435287 116 3775
WST-20-0379A 143 -41 277 453493 5435287 116 3775
WST-20-0381 145 9 82 453228 5435126 136 3475
WST-20-0382 147 -3 158 453228 5435126 135 3475
WST-20-0383 155 -17 92 453227 5435125 135 3475
WST-20-0390 158 -35 175 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 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 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