Osisko Intersects 161 g/t Au Over 8.0 Metres at Windfall

TORONTO, Nov. 25, 2019 - 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.

The program is currently focused on infill drilling and expansion drilling at the Lynx deposit, exploration on the main mineralized zones, and deep exploration in the central areas of the mineralized intrusive system. Twenty-two drills are active at Lynx and Triple Lynx, with another two drills conducting infill and exploration drilling on other areas of the deposit.

Osisko President and Chief Executive Officer John Burzynski commented: “Infill drilling in the Lynx zones is delivering strong results. We are especially pleased with Triple Lynx as it continues to infill very well and is adding significant ounces. We expect continued good results from Lynx as we progress with our expansion and infill drill program.”

Significant new analytical results from 71 intercepts in 17 surface drill holes and 19 wedges focused on Lynx infill and expansion drilling are presented below. Additionally, 11 intercepts from 9 underground infill drill holes, including the Lynx bulk sample area, are included in the table below.

Intercepts from new results include: 491 g/t Au over 3.3 metres in OSK-19-1193-W2; 161 g/t Au over 8.0 metres in OSK-W-19-2068-W2; 267 g/t Au over 2.7 metres in WST-19-0209; 138 g/t Au over 2.0 metres and 37.4 g/t Au over 5.6 metres in OSK-W-19-1949-W3. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

Surface Drilling

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

Underground Drilling

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

Drill hole location

OSK-W-17-1272 intersected 12.4 g/t Au over 2.9 metres in Triple Lynx. Mineralization consists of trace disseminated pyrite in a moderate silica and weak sericite altered rhyolite.

OSK-W-18-1560-W2 intersected 4.51 g/t Au over 11.1 metres in Lynx. Mineralization consists of local visible gold, 5% pyrite stringers and clusters, and trace sphalerite hosted at the contact between a moderate chlorite altered gabbro and a moderate sericite altered rhyolite.

OSK-W-18-1582 intersected 13.6 g/t Au over 3.1 metres in Lynx. Mineralization consists of 5% disseminated pyrite, 2% pyrite stringers, 5% pyrite with ptygmatic quartz-tourmaline veinlets, and irregular quartz veinlets at the contact between a moderated fuchsite altered gabbro and moderate silica-sericite altered rhyolite.

OSK-W-18-1867 intersected 46.1 g/t Au over 2.1 metres in Lynx. Mineralization consists of 7% pyrite stringers and clusters and 1% pyrite with quartz-tourmaline veins hosted in a strongly sericitized and weakly fuchsitized andesite.

OSK-W-19-923-W4 intersected 31.7 g/t Au over 2.0 metres in Lynx. Mineralization consists of local visible gold, 15% disseminated and stringer pyrite, 2% chalcopyrite and trace sphalerite within a moderate sericite and weak fuchsite altered rhyolite.

OSK-W-19-1193-W2 intersected 491 g/t Au over 3.3 metres in Lynx. Mineralization consists of local visible gold and native silver, 2% pyrite-tourmaline veinlets, 10% disseminated pyrite, 1% pyrite clusters, and trace chalcopyrite clusters with quartz-tourmaline veins hosted in a weakly brecciated, moderately silicified and moderately sericitized felsic intrusion.

OSK-W-19-1272-W3 intersected 6.65 g/t Au over 21.3 metres in Triple Lynx. Mineralization consists of 8% disseminated, clustered and stringer pyrite hosted in a moderately sericitized and silicified rhyolite with strongly sericitized gabbro enclaves with local fuchsite.

OSK-W-19-1419-W1 intersected 14.0 g/t Au over 4.3 metres in Lynx. Mineralization consists of quartz crustiform veins with trace disseminate pyrite hosted at a weak sericite and silica altered contact between a rhyolite and a porphyritic felsic dike.

OSK-W-19-1711-W3 intersected 6.14 g/t Au over 2.0 metres in Lynx. Mineralization consists of 1% disseminated pyrite and trace sphalerite within a weak sericite and silica altered rhyolite.

OSK-W-19-1857-W7 intersected 23.1 g/t Au over 2.4 metres in Lynx and 10.0 g/t Au over 2.0 metres in Lynx Extension. The first interval consists of up to 8% disseminated, stringer, and clustered pyrite associated with pervasive silica flooding hosted in a weak sericite altered rhyolite. The second interval consists of trace disseminated and clustered pyrite within a moderate sericite and weak silica altered porphyritic felsic dike.

OSK-W-19-1891-W4 intersected 4.16 g/t Au over 2.6 metres and 6.06 g/t Au over 2.2 metres in Lynx. Both intervals consist of 2% disseminated and clustered pyrite with local smoky silica flooding, ptygmatic tourmaline veinlets and quartz-carbonate veinlets hosted in a sericitized rhyolite in contact with a fuchsitized gabbro.

OSK-W-19-1947 intersected 12.8 g/t Au over 2.5 metres and 14.1 g/t Au over 3.4 metres in Lynx. Both intervals consist of up to 7% disseminated, stringer, and clustered pyrite within a strong fuchsite and sericite altered gabbro.

OSK-W-19-1948 intersected 3.67 g/t Au over 3.9 meters in Lynx. Mineralization consists of 2% pyrite clusters in a moderate silica and weak sericite altered fragmental felsic dike.

OSK-W-19-1949-W3 intersected 37.4 g/t Au over 5.6 metres, 3.27 g/t Au over 2.3 metres and 138 g/t Au over 2.0 metres in Lynx. The first interval consists of local visible gold and 5% pyrite clusters with smoky quartz veins in a moderate sericite altered rhyolite. The second interval consists of 3% clustered, stringer, and disseminated pyrite in a moderate sericite and strong fuchsite altered gabbro. The third interval consist of local visible gold with 3% disseminated, stringer, and clustered pyrite with quartz-tourmaline veins, silica flooding and ptygmatic tourmaline veins in a strong silica and sericite altered rhyolite.

OSK-W-19-1975-W1 intersected 5.69 g/t Au over 2.4 metres in Lynx. Mineralization consists of up to 10% disseminated and clustered pyrite in a weakly to moderately silicified and weakly bleached andesite.

OSK-W-19-1986 intersected 3.99 g/t Au over 8.2 metres in Lynx. Mineralization consists of up to 5% disseminated, clustered, and stringer pyrite and 1% sphalerite hosted in a moderate silica altered porphyritic felsic intrusion.

OSK-W-19-1991 intersected 5.10 g/t Au over 2.5 metres in Lynx. Mineralization consists of 15% pyrite stringers, 10% pyrite clusters, and 5% disseminated pyrite at the contact between a strongly bleached, moderately sericitized, and weakly silicified gabbro and an andesite.

OSK-W-19-2012 intersected 6.44 g/t Au over 2.0 metres in Lynx. Mineralization consists of trace pyrite stringers and clusters with quartz veins in a weakly sericitized and silicified rhyolite with moderate chlorite alteration.

OSK-W-19-2017 intersected 17.9 g/t Au over 2.0 metres and 6.99 g/t Au over 2.0 metres in Lynx. The first interval consists of 3% clustered and stringer pyrite associated with pervasive silica flooding and 3% ptygmatic quartz-tourmaline veins hosted at the contact between a moderate fuchsite altered gabbro and a weak sericite altered porphyritic felsic dike. The second interval consists of trace pyrite stringers associated with pervasive silica flooding hosted in a moderate sericite altered rhyolite.

OSK-W-19-2023 intersected 11.5 g/t Au over 2.0 metres in Lynx. Mineralization consists of local visible gold, 10% pyrite stringers, and 3% pyrite clusters hosted in a moderate silica altered porphyritic felsic intrusion.

OSK-W-19-2025 intersected 19.9 g/t Au over 2.0 metres in Lynx. Mineralization consists of 2% disseminated pyrite associated with quartz-tourmaline veins and up to 5% pyrite clusters hosted in moderate silica altered porphyritic dike.

OSK-W-19-2026-W2 intersected seven intervals in Triple Lynx: 9.95 g/t Au over 2.3 metres, 5.98 g/t Au over 2.0 metres, 8.71 g/t Au over 4.4 metres, 13.7 g/t Au over 3.9 metres, 35.7 g/t Au over 2.4 metres, 9.27 g/t Au over 2.0 metres and 6.97 g/t Au over 2.0 metres. The first interval consists of 1% pyrite stringers associated with ptygmatic tourmaline veins hosted in a weakly sericitized and chloritized rhyolite. The second interval consists of trace disseminated pyrite within a weak sericite altered rhyolite. The third interval consists of 5% pyrite clusters and stringers in a weakly sericitized and bleached gabbro in contact with a rhyolite. The fourth interval consists of 10% disseminated pyrite with a smoky quartz vein in a moderate silica and weak sericite altered rhyolite. The fifth interval consists of up to 7% pyrite stringers within a weak sericite altered rhyolite. The sixth interval consists of up to 25% pyrite and 3% sphalerite associated with smoky quartz veins hosted in a moderate chlorite altered porphyritic felsic intrusion. The last interval consists of local visible gold, up to 15% pyrite stringers and 1% sphalerite within a moderate silica altered and weak chlorite altered rhyolite.

OSK-W-19-2026-W3 intersected 5.08 g/t Au over 2.1 metres, 4.40 g/t Au over 2.0 metres and 12.7 g/t Au over 4.0 metres in Triple Lynx. The first interval consists of 1% disseminated or semi-massive centimetric bands of pyrite in a moderate silica and weak sericite altered porphyritic felsic dike. The second interval consists of 5% disseminated and stringer pyrite in fracture filling in a weak silica and sericite altered rhyolite. The last interval consists of trace disseminated pyrite and 1% pyrite with ptygmatic tourmaline veins in a weakly sericite and silica altered porphyritic felsic dike.

OSK-W-19-2035 intersected 3.24 g/t Au over 2.4 metres and 7.82 g/t Au over 2.3 metres in Lynx. The first interval consists of 10% disseminated pyrite in a moderate fuchsite, silica and weak sericite altered gabbro. The second interval consists of 3% disseminated and clustered pyrite in a weak sericite and moderate silica altered rhyolite.

OSK-W-19-2041-W1 intersected 3.88 g/t Au over 7.0 metres, 14.8 g/t Au over 4.8 metres and 5.88 g/t Au over 2.9 metres in Triple Lynx. The first interval consists of 1% disseminated pyrite and 1% pyrite-tourmaline stringers in a weak silica and moderate sericite altered rhyolite. The second interval consists of local visible gold, 25% disseminated pyrite with tourmaline in a smoky-quartz vein, and 3% disseminated, clustered and stringer pyrite in a sericitized and silica altered rhyolite. The third interval consists of 1% disseminated pyrite and 1% massive pyrite veins in a moderate silica and sericite altered rhyolite.

OSK-W-19-2044 intersected 10.9 g/t Au over 4.1 metres and 33.7 g/t Au over 2.0 metres in Lynx. The first interval consists of 15% disseminated and stringer pyrite and 5% sphalerite associated with quartz-carbonate veins hosted in a moderate silica altered porphyritic felsic intrusion. The second interval consists of up to 10% pyrite stringers and clusters hosted in a weak silica and fuchsite altered gabbro.

OSK-W-19-2061 intersected 3.73 g/t Au over 2.3 metres and 5.17 g/t Au over 2.3 metres in Lynx. The first interval consists of up to 10% pyrite associated with quartz-carbonate veins within a moderate sericite and weak silica altered felsic intrusion. The second interval consists of up to 10% pyrite stringers within a weak silica, sericite and fuchsite altered porphyritic felsic dike.

OSK-W-19-2067-W1 intersected four intervals in Triple Lynx: 21.8 g/t Au over 2.5 metres, 8.20 g/t Au over 2.0 metres, 8.38 g/t Au over 2.0 metres and 47.9 g/t Au over 2.1 metres. The first interval consists of up to 7% pyrite clusters and up to 4% pyrite stringers within a moderately bleached gabbro. The second interval consists of 5% pyrite stringers and 15% crustiform veins hosted in a weak silica and sericite altered rhyolite. The third interval consists of local visible gold and 2% pyrite stringers associated with smoky quartz veins hosted in a weak silica and sericite altered rhyolite. The last interval consists of local visible gold, 2% pyrite stringers and quartz-carbonate veins within a weak silica altered rhyolite.

OSK-W-19-2067-W2 intersected six intervals in Triple Lynx: 3.38 g/t Au over 2.1 metres, 4.02 g/t Au over 2.0 metres, 3.71 g/t Au over 2.3 metres, 3.74 g/t Au over 3.0 metres, 17.8 g/t Au over 3.2 metres and 14.6 g/t Au over 2.3 metres. The first to fourth intervals consist of 1% disseminated or stringer pyrite within a weakly to moderately silicified and moderately sericitized rhyolite. The fifth interval consists of local visible gold in a pervasive silica zone with 20% disseminated or stringer pyrite in a moderate silica and sericite altered rhyolite in contact with moderate chlorite and sericite altered gabbro with 5% disseminated or fracture filling pyrite. The last interval consists of local visible gold and 10% disseminated pyrite with ptygmatic tourmaline veins in a moderate to strongly silicified and sericitized rhyolite.

OSK-W-19-2068-W1 intersected three intervals in Lynx: 5.63 g/t Au over 2.2 metres, 3.93 g/t Au over 2.0 metres and 4.32 g/t Au over 2.0 metres. The first interval consists of up to 5% pyrite stringers associated with ptygmatic tourmaline veins and trace chalcopyrite within a weakly chloritized basalt. The second interval consists of 5% quartz-tourmaline veins and trace chalcopyrite within a weak sericite and silica altered basalt. The last interval consists of trace disseminated and stringer pyrite within a moderate chlorite altered and weak sericite altered basalt.

OSK-W-19-2068-W2 intersected 161 g/t Au over 8.0 metres, 6.54 g/t Au over 2.1 metres and 3.76 g/t Au over 2.0 metres in Lynx. The first interval consists of local visible gold, local native silver, 15% disseminated pyrite, 1% disseminated sphalerite, and 1% disseminated chalcopyrite with silica flooding with local fuchsite hosted in a moderate sericite and strong silica altered rhyolite. The second interval consists of local visible gold, trace sphalerite with silica flooding, 3% pyrite clusters and stringers, and 1% disseminated pyrite in a strong silica and sericite altered rhyolite in contact with a locally fuchsitized gabbro. The last interval is composed of 2% pyrite stringers and clusters within a moderate sericite rhyolite.

OSK-W-19-2068-W3 intersected 22.3 g/t Au over 2.5 metres in Lynx. Mineralization consists of 2% pyrite clusters and 1% pyrite-tourmaline stringers hosted in a moderately sericitized, silicified and weakly fuchsitized rhyolite.

OSK-W-19-2077 intersected 15.0 g/t Au over 2.0 metres in Triple Lynx. Mineralization consists of local visible gold in quartz-tourmaline veins and 5% disseminated pyrite hosted in a strong silica and weak sericite altered rhyolite.

OSK-W-19-2084-W1 intersected 38.4 g/t Au over 2.6 metres in Lynx. Mineralization consists of local visible gold, 3% pyrite clusters and stringers associated with ptygmatic tourmaline veins hosted in a strong silica, moderate sericite and fuchsite altered gabbro.

OSK-W-19-2100 intersected 3.96 g/t Au over 2.1 metres and 8.06 g/t Au over 2.6 metres in Triple Lynx. Mineralization in both intervals consists of 1% pyrite stringers and trace pyrite with quartz-carbonates veins in weak to moderate sericite rhyolite.

OSK-W-19-2107 intersected 3.93 g/t Au over 12.6 metres, 3.52 g/t Au over 2.9 metres and 3.67 g/t Au over 2.1 metres in Triple Lynx. The first interval consists of 7% disseminated and clustered pyrite, and trace sphalerite clusters in a weakly sericitized and moderately silicified porphyritic felsic dike. The second and third intervals consists of 1% pyrite stringers and trace disseminated pyrite in a moderately chloritized and weakly sericitized porphyritic felsic dike.

WST-19-0152 intersected 3.89 g/t Au over 2.9 metres in Lynx. Mineralization consists of local visible gold and 15% pyrite with pervasive silica flooding in a moderate silica altered rhyolite. WST-19-0152 was drilled from underground drill station BM-200-285-S located 285 metres below surface from section 3525E.

WST-19-0166 intersected 4.66 g/t Au over 2.0 metres in Lynx. Mineralization consists of 5% pyrite stringers associated with pervasive silica flooding in a fragmental felsic intrusion. WST-19-0166 was drilled from underground drill station BM-200-285-S located 285 metres below surface from section 3525E.

WST-19-0207 intersected 10.6 g/t Au over 2.4 metres in Lynx. Mineralization consists of local visible gold in a smoky quartz vein, 6% disseminated pyrite and 4% pyrite clusters hosted in a weakly sericitized rhyolite. WST-19-0207 was drilled from underground drill station AN-225-190-O located 225 metres below surface from section 3425E.

WST-19-0209 intersected 267 g/t Au over 2.7 metres in Lynx. Mineralization consists of local visible gold, up to 4% disseminated pyrite, and 1% trace sphalerite within a quartz-tourmaline vein hosted in a weak sericite altered rhyolite. WST-19-0209 was drilled from underground drill station AN-225-190-O located 225 metres below surface from section 3425E.

WST-19-0211 intersected 5.21 g/t Au over 4.0 metres in Lynx. Mineralization consists of finely disseminated pyrite and trace sphalerite associated with smoky quartz veins hosted in a sericitized rhyolite. WST-19-0211 was drilled from underground drill station AN-225-190-O located 225 metres below surface from section 3425E.

WST-19-0212 intersected 23.5 g/t Au over 2.1 metres in Lynx. Mineralization consists of local visible gold with quartz crustiform veins, 8% pyrite clusters, and trace sphalerite hosted in a moderate silica altered rhyolite. WST-19-0212 was drilled from underground drill station AN-225-190-O located 225 metres below surface from section 3425E.

WST-19-0215 intersected 53.9 g/t Au over 2.4 metres in Lynx. Mineralization consists of local visible gold in a crustiform quartz-carbonate vein, 6% disseminated pyrite and 3% pyrite clusters hosted at the contact between a weakly sericitized rhyolite and a gabbro. WST-19-0215 was drilled from underground drill station AN-225-190-O located 225 metres below surface from section 3425E.

WST-19-0229 intersected 4.54 g/t Au over 2.1 metres and 5.34 g/t Au over 2.0 metres in Lynx. The first interval consists of 3% disseminated pyrite, 2% sphalerite within quartz-fuchsite veins, and 2% pyrite clusters hosted in a moderately sericitized porphyritic felsic dike. The second interval consists of 3% pyrite clusters and pyrite-tourmaline stringers, and 10% pyrite within a quartz vein hosted in a moderately sericitized-silicified porphyritic felsic dike. WST-19-0229 was drilled from underground drill station RA-180-190-E located 180 metres below surface from section 3450E.

WST-19-0230 intersected 4.91 g/t Au over 2.1 metres and 3.57 g/t Au over 2.5 metres in Lynx. Mineralization consists of 10% pyrite clusters and stringers in a moderate sericite altered rhyolite. WST-19-0230 was drilled from underground drill station RA-180-190-E located 180 metres below surface from section 3450E.

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 Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-d'Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the Windfall Lake Technical Report (as defined below) and November 27, 2018 Lynx resource update, comprises 2,874,000 tonnes at 8.17 g/t Au (754,000 ounces) in the indicated mineral resource category and 10,352,000 tonnes at 7.11 g/t Au (2,366,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake gold project, please see the technical report entitled "Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties" and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val-d'Or, Québec (the "Windfall Lake Technical Report") and the press release “Osisko Releases Mineral Resource Update for Lynx” dated November 27, 2018, which has been prepared by Osisko and reviewed and approved by Micon International, Ltd. from Toronto, Ontario. The Windfall Lake Technical Report and press release are available on Osisko's website at www.osiskomining.com and on SEDAR under Osisko's issuer profile at www.sedar.com. The Windfall Lake gold deposit is currently one of the highest-grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 metres and remains open along strike and at depth. Mineralization has been identified 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 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 significance of results from the new infill drilling and ongoing drill definition and expansion program at the Windfall Lake gold project; the significance of assay results presented in this news release; the deposit remaining open along strike and at depth; potential depth extensions of the mineralized zones down-plunge and at depth; the actual mineralization of local visible gold; the current drill program; the type of drilling included in the drill program; potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward- looking information. 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 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