Osisko Mining Inc. Announces Six-Month Extension of Warrants Issued on June 23, 2020

TORONTO, Dec. 13, 2021 - Osisko Mining Inc. (TSX:OSK) (the "Corporation") is pleased to announce that it has received conditional approval of the Toronto Stock Exchange to extend the expiry date of the common share purchase warrants of the Corporation (the "Warrants") originally issued pursuant to a private placement of units of the Corporation, which closed on June 23, 2020 (the "Offering"). The Warrants are exercisable for common shares of the Company ("Common Shares") at a price of $5.25 per Common Share and are set to expire on December 23, 2021. The Company has extended the expiry date of such Warrants by an additional six months to June 23, 2022, with such extension being effective on December 29, 2021 (the "Effective Date"). All other terms of the Warrants, including the exercise price, will remain the same. No exercises of the Warrants will be accepted by the Corporation from the date hereof until the Effective Date. Under the Offering 24,250,000 Warrants were issued, but the extension applies only to 22,099,400 Warrants, as the extension does not apply to 2,150,600 Warrants issued to insiders of the Corporation.

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 Qu?bec and holds a 100% undivided interest in a large area of claims in the surrounding the Urban Barry area and nearby Qu?villon area (over 2,600 square kilometres).

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, statements with respect to the extension of the term of the Warrants. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, include the inability to obtain regulatory approvals required in relation to the extension of the term of the Warrants. Although Osisko believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Osisko disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

For further information on the Corporation please contact:

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