Osisko Appoints New Officers

(Montreal, October 5, 2016)  Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce that it has appointed three new executive officers.  Mr. Robert Wares has been appointed Executive Vice President of Exploration and Resource Development;  Mr. Mathieu Savard has been appointed Vice President of Exploration for Quebec;  and Ms. Alexandra Drapack has been appointed Vice President of Environment Services and Sustainable Development.

Robert Wares, P.Geo., Executive Vice-President of Exploration and Resource Development

Mr. Wares is a professional geologist with over 35 years of experience in mineral exploration, research and resource development.  Mr. Wares’ skills and experience span a broad spectrum of the exploration and mining industry, with the majority of his career in the base and precious-metals sector.  He was a co-founder of Osisko Mining Corp. and was directly responsible for the discovery of the Canadian Malartic bulk tonnage gold deposit, which was subsequently developed by Osisko Mining Corporation into one of Canadas largest gold producers.  Mr. Wares was President of Osisko Exploration from 1998 to 2006, was Executive Vice President, Exploration and Resource Development from 2006 to 2012, and was Chief Geologist for Osisko Mining Corporation and Osisko Gold Royalties Ltd. from 2012 to 2016.  Mr. Wares currently serves as the President of lOrdre des géologues du Québec (Quebec Professional Geologist Association) and is also a member of the Board of Directors of Arizona Mining, Bowmore Exploration Ltd. and Komet Resources.  He is a member of various industry and research organizations, is recipient of an Honorary Doctorate in Science from McGill University and has received numerous industry awards, including co-winner of 2007 Bill Dennis Prospector of the Year Award (PDAC), and with his Osisko co-founders was named “Mining Men of the Year” by the Northern Miner in 2009.

Mathieu Savard, P.Geo., Vice-President of Exploration Québec

With over 17 years’ experience in exploration in Northern Québec and Canada, Mathieu graduated from the Université du Québec à Montréal with a bachelors degree (B.Sc.) in earth sciences and economic geology.  Prior to joining Osisko Mining, he was Chief Geologist at Osisko Exploration James Bay Ltd. for all their activities in Québec.  For 15 years prior to working with the Osisko Group, Mathieu was a senior member of the Virginia Gold and Virginia Gold Mines teams and, as Project Manager, was instrumental to the development of the world-class Éléonore gold deposit in Northern Québec and was part of the discovery team of the Coulon base metal deposit.  Mr. Savard and the Virginia team received the AEMQs prestigious Prospector of the Year Award in 2004 for the discovery of both the Éléonore gold deposit and Coulon base metal deposit.  He is a member of the Ordre des Géologues du Québec and is a director of the Québec Mineral Exploration Association (AEQM) where he currently serves as Vice-President. 

Alexandra Drapack, P.Eng., Vice-President of Environment Services & Sustainable Development

Ms. Drapack is a professional engineer with over 20 years of experience in managing mining, environmental and transportation projects in Canada and the USA, spanning operations, consulting and corporate office settings.  Alix graduated from UBC with a Bachelor of Applied Science in Mining and Mineral Process Engineering.  She also holds an MBA from Arizona State University, is a member (P. Eng.) of the Professional Engineers of Ontario, and has her Project Management Professional designation (PMP).  From 2011 to 2014, as Director of Sustainable Development for Osisko Mining Corporation, she led the combined federal and provincial environmental assessment process for the Osisko Hammond Reef Project and was responsible for Aboriginal engagement, public consultation and government relations.  Previously she developed and implemented the Environmental Management Program for TransLink and has had mining operations experience including working as a Mill Shift foreman for Inco Ltd.

John Burzynski, President and Chief Executive Officer of Osisko stated: “We are very pleased to welcome Bob, Mathieu and Alix to the Osisko Mining executive team, three highly experienced mining industry professionals with a depth of experience with the Osisko group.   We expect all three will help us in our goal of accelerating work on our flagship Windfall and Urban Barry projects as we continue towards our goal of becoming a leading Canadian intermediate mining company.”

About Osisko Mining Inc.

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

Cautionary Note Regarding Forward-Looking Information

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

For further information please contact:

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