Canada markets open in 8 hours 15 minutes
  • S&P/TSX

    20,714.48
    +13.98 (+0.07%)
     
  • S&P 500

    4,070.56
    +10.13 (+0.25%)
     
  • DOW

    33,978.08
    +28.68 (+0.08%)
     
  • CAD/USD

    0.7500
    -0.0015 (-0.20%)
     
  • CRUDE OIL

    79.15
    -0.53 (-0.67%)
     
  • BTC-CAD

    31,638.71
    +480.71 (+1.54%)
     
  • CMC Crypto 200

    538.37
    +21.37 (+4.13%)
     
  • GOLD FUTURES

    1,946.10
    +0.50 (+0.03%)
     
  • RUSSELL 2000

    1,911.46
    +8.40 (+0.44%)
     
  • 10-Yr Bond

    3.5180
    0.0000 (0.00%)
     
  • NASDAQ futures

    12,172.25
    -50.00 (-0.41%)
     
  • VOLATILITY

    18.51
    -0.22 (-1.17%)
     
  • FTSE

    7,765.15
    +4.04 (+0.05%)
     
  • NIKKEI 225

    27,397.26
    +14.70 (+0.05%)
     
  • CAD/EUR

    0.6901
    -0.0010 (-0.14%)
     

Osisko Metals Announces Additional Definition Drilling Results for Pine Point

Osisko Metals Incorporated
Osisko Metals Incorporated

Pine Point Surface Map

Pine Point Surface Map
Pine Point Surface Map

MONTREAL, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce results from the 2022 definition drilling program at its Pine Point Project, located in the Northwest Territories, Canada. This continuous drill program is designed to achieve an average drill spacing of approximately 30 metres within current mineral resources to upgrade resources presently classified as Inferred to the Indicated category so they can be included in the upcoming feasibility study.

In August of this year, the Company filed the 2022 Preliminary Economic Assessment (“PEA”) that included higher commodity prices and reduced dewatering costs. All intercepts reported below were within, or immediately adjacent to, the currently modelled and proposed open pit shells included in the PEA. Further assay results are pending.

The results reported in Tables 1 & 2 below are within expectations for the infill program needed to convert the North Zone deposits (Y68, Y65, and X71) to the Indicated Mineral Resource category. Shallow zinc and lead sulphides were intersected between 18 and 95 metres vertical depth and occurred as continuous, flat-lying, and relatively thin, Tabular-style mineralization. Prismatic-style mineralization, with more vertical continuity, was locally encountered within the Tabular-style mineralization.

Highlights Include:

  • Drill hole X71-22-PP-036 intersected 13.00 metres, grading 6.80% Zn and 2.58% Pb (9.38% Zn+Pb)

  • Drill hole X71-22-PP-040 intersected 12.00 metres, grading 25.80% Zn and 6.84% Pb (32.65% Zn+Pb)

  • Drill hole Y65-22-PP-009 intersected 6.00 metres, grading 12.87% Zn and 1.32% Pb (14.19% Zn+Pb)

  • Drill hole Y68-22-PP-019 intersected 6.00 metres, grading 9.94% Zn and 13.66% Pb (23.61% Zn+Pb)

Jeff Hussey, President & COO, commented: “We are pleased to report more positive definition drilling results as we prepare for the winter drilling campaign, expected to start in January 2023. Following the 2020 and 2022 PEA studies and further drilling, we will initiate the feasibility phase of the project in H2 2023. In parallel, we are continuing to advance the Environmental Assessment process which will continue into 2023.”

Table 1: Drill Hole Composites.

Hole Name

Zone

Deposit

From

To

Drill Width

True Width

Zn

Pb

ZN+PB

(m)

(m)

(m)

(m)

%

%

%

HG-22-PP-001**

Hgeol

X68 Area

65.00

66.00

1.00

0.97

6.25

0.73

6.98

HG-22-PP-003**

Hgeol

Y65 area

21.00

22.00

1.00

1.00

0.21

0.06

0.27

X71-22-PP-001

N1

X71

39.00

40.00

1.00

1.00

0.00

0.00

0.00

X71-22-PP-001A

N1

X71

94.20

95.30

1.10

1.04

0.46

0.04

0.50

X71-22-PP-002

N1

X71

52.00

53.00

1.00

1.00

0.33

0.01

0.35

X71-22-PP-003

N1

X71

52.00

53.00

1.00

1.00

6.53

1.80

8.33

X71-22-PP-004

N1

X71

52.00

53.00

1.00

1.00

4.85

1.57

6.42

X71-22-PP-005

N1

X71

65.15

66.50

1.35

1.35

11.90

1.71

13.60

X71-22-PP-005

N1

X71

47.00

53.00

6.00

6.00

4.90

5.40

10.30

X71-22-PP-006*

N1

X71

53.00

54.50

1.50

1.50

10.08

17.64

27.72

X71-22-PP-007

N1

X71

56.00

56.20

0.20

0.20

6.83

4.77

11.60

X71-22-PP-008

N1

X71

56.00

56.50

0.50

0.50

7.50

25.54

33.04

X71-22-PP-009

N1

X71

57.00

57.75

0.75

0.75

2.05

0.98

3.03

X71-22-PP-010

N1

X71

49.00

51.00

2.00

2.00

7.28

6.13

13.41

X71-22-PP-011

N1

X71

63.00

64.00

1.00

1.00

2.50

1.51

4.01

X71-22-PP-012

N1

X71

59.00

60.00

1.00

1.00

5.32

15.40

20.72

X71-22-PP-013

N1

X71

21.20

24.20

3.00

3.00

0.65

15.43

16.08

X71-22-PP-013

N1

X71

50.65

55.65

5.00

5.00

11.20

6.24

17.44

X71-22-PP-014

N1

X71

56.00

58.00

2.00

2.00

5.37

2.41

7.78

X71-22-PP-014

N1

X71

68.00

70.00

2.00

2.00

0.81

7.50

8.31

X71-22-PP-015

N1

X71

55.00

56.00

1.00

1.00

4.31

1.04

5.35

X71-22-PP-016

N1

X71

51.00

58.00

7.00

7.00

13.68

6.00

19.68

X71-22-PP-017

N1

X71

57.00

58.00

1.00

1.00

2.92

17.80

20.72

X71-22-PP-017

N1

X71

38.00

49.00

11.00

11.00

4.39

3.44

7.84

X71-22-PP-018

N1

X71

78.00

81.00

3.00

3.00

4.51

1.59

6.10

X71-22-PP-019

N1

X71

55.00

56.00

1.00

1.00

4.74

1.02

5.76

X71-22-PP-020

N1

X71

43.00

44.00

1.00

1.00

0.73

0.15

0.88

X71-22-PP-021

N1

X71

56.65

57.65

1.00

1.00

1.10

4.30

5.40

X71-22-PP-022

N1

X71

74.00

75.00

1.00

1.00

0.25

3.84

4.09

X71-22-PP-023

N1

X71

50.00

55.00

5.00

5.00

6.25

2.41

8.66

X71-22-PP-024

N1

X71

53.00

53.40

0.40

0.40

3.44

0.77

4.21

X71-22-PP-025

N1

X71

18.00

26.00

8.00

8.00

3.62

10.34

13.95

X71-22-PP-025

N1

X71

53.50

63.50

10.00

10.00

5.38

4.53

9.91

X71-22-PP-026

N1

X71

19.00

24.00

5.00

5.00

3.75

6.17

9.92

X71-22-PP-026

N1

X71

51.90

57.00

5.10

5.10

4.06

2.76

6.82

X71-22-PP-027

N1

X71

36.33

37.33

1.00

1.00

0.50

11.85

12.35

X71-22-PP-027

N1

X71

48.44

49.44

1.00

1.00

7.02

15.30

22.32

X71-22-PP-027

N1

X71

19.50

20.50

1.00

1.00

1.08

23.23

24.31

X71-22-PP-028

N1

X71

49.00

50.00

1.00

1.00

1.37

0.26

1.63

X71-22-PP-029

N1

X71

47.50

51.55

4.05

4.05

11.85

16.26

28.10

X71-22-PP-030

N1

X71

67.00

68.00

1.00

1.00

3.79

15.90

19.69

X71-22-PP-030

N1

X71

20.60

23.60

3.00

3.00

0.60

6.11

6.71

X71-22-PP-031

N1

X71

50.65

51.65

1.00

1.00

3.99

0.21

4.20

X71-22-PP-032

N1

X71

50.00

51.00

1.00

1.00

1.45

0.08

1.52

X71-22-PP-033

N1

X71

54.00

57.00

3.00

3.00

21.90

11.15

33.05

X71-22-PP-034

N1

X71

51.00

57.00

6.00

6.00

4.19

1.64

5.83

X71-22-PP-035

N1

X71

46.50

47.50

1.00

1.00

18.15

27.01

45.16

X71-22-PP-035

N1

X71

53.50

58.35

4.85

4.85

7.17

1.18

8.36

X71-22-PP-036

N1

X71

76.00

89.00

13.00

13.00

6.80

2.58

9.38

X71-22-PP-037

N1

X71

41.40

42.00

0.60

0.60

26.30

9.18

35.48

X71-22-PP-038

N1

X71

58.00

59.00

1.00

1.00

3.53

0.21

3.74

X71-22-PP-039

N1

X71

52.69

53.69

1.00

1.00

0.71

0.19

0.90

X71-22-PP-040

N1

X71

59.00

71.00

12.00

12.00

25.80

6.84

32.65

X71-22-PP-041

N1

X71

63.00

64.00

1.00

1.00

7.21

0.22

7.43

X71-22-PP-041

N1

X71

51.00

61.00

10.00

10.00

4.05

1.42

5.47

X71-22-PP-042

N1

X71

55.00

58.00

3.00

3.00

6.90

1.71

8.61

X71-22-PP-043

N1

X71

66.00

67.00

1.00

1.00

1.77

0.28

2.05

X71-22-PP-045

N1

X71

59.50

62.50

3.00

3.00

12.94

4.06

17.00

X71-22-PP-045

N1

X71

68.50

73.50

5.00

5.00

7.42

5.94

13.36

X71-22-PP-046

N1

X71

84.00

85.00

1.00

1.00

6.19

1.26

7.45

X71-22-PP-046

N1

X71

57.00

58.00

1.00

1.00

4.87

3.24

8.11

X71-22-PP-046

N1

X71

81.00

82.00

1.00

1.00

5.32

2.98

8.30

X71-22-PP-046

N1

X71

76.00

78.00

2.00

2.00

4.37

3.54

7.91

X71-22-PP-047

N1

X71

57.20

58.10

0.90

0.90

1.97

0.03

2.00

X71-22-PP-048

N1

X71

61.00

67.00

6.00

6.00

8.02

1.12

9.14

X71-22-PP-049

N1

X71

71.00

72.00

1.00

1.00

0.67

0.48

1.14

X71-22-PP-050

N1

X71

54.00

58.00

4.00

4.00

10.27

6.31

16.58

X71-22-PP-051*

N1

X71

55.00

58.00

3.00

3.00

8.98

0.35

9.33

X71-22-PP-052

N1

X71

53.00

54.00

1.00

1.00

4.23

4.71

8.94

X71-22-PP-053

N1

X71

49.00

50.00

1.00

1.00

0.44

0.06

0.50

X71-22-PP-054

N1

X71

68.00

69.00

1.00

1.00

1.05

0.54

1.59

X71-22-PP-055

N1

X71

51.00

53.00

2.00

2.00

8.93

4.56

13.49

X71-22-PP-056

N1

X71

52.00

53.00

1.00

1.00

1.73

0.12

1.85

Y65-22-PP-001

N1

Y65

18.00

19.00

1.00

1.00

13.10

1.87

14.97

Y65-22-PP-002

N1

Y65

22.00

23.00

1.00

1.00

0.52

0.99

1.51

Y65-22-PP-003

N1

Y65

23.00

24.00

1.00

1.00

11.30

0.08

11.38

Y65-22-PP-003

N1

Y65

29.00

31.00

2.00

2.00

6.30

3.49

9.79

Y65-22-PP-003

N1

Y65

40.00

43.00

3.00

3.00

21.50

4.75

26.25

Y65-22-PP-004

N1

Y65

24.00

25.00

1.00

1.00

0.79

0.59

1.37

Y65-22-PP-005

N1

Y65

27.00

31.00

4.00

4.00

16.63

8.00

24.62

Y65-22-PP-006

N1

Y65

22.00

23.00

1.00

1.00

13.85

1.01

14.86

Y65-22-PP-007

N1

Y65

27.00

29.00

2.00

2.00

15.72

15.09

30.81

Y65-22-PP-007

N1

Y65

31.00

34.00

3.00

3.00

4.63

0.68

5.32

Y65-22-PP-008

N1

Y65

35.00

36.00

1.00

1.00

5.18

1.05

6.23

Y65-22-PP-009*

N1

Y65

51.00

57.00

6.00

6.00

12.87

1.32

14.19

Y65-22-PP-010

N1

Y65

35.00

36.00

1.00

1.00

0.74

0.15

0.89

Y65-22-PP-011

N1

Y65

40.00

41.00

1.00

1.00

2.91

2.36

5.27

Y65-22-PP-012

N1

Y65

33.00

37.00

4.00

4.00

7.30

0.32

7.63

Y65-22-PP-013

N1

Y65

30.00

38.00

8.00

8.00

6.39

1.02

7.41

Y65-22-PP-014

N1

Y65

31.00

34.00

3.00

3.00

5.29

1.14

6.44

Y65-22-PP-015

N1

Y65

31.00

32.00

1.00

1.00

0.79

0.09

0.88

Y68-22-PP-003

N1

Y68

31.20

32.00

0.80

0.80

2.76

0.42

3.18

Y68-22-PP-004

N1

Y68

35.00

35.50

0.50

0.50

4.02

0.00

4.02

Y68-22-PP-006

N1

Y68

30.00

31.00

1.00

1.00

0.01

0.00

0.01

Y68-22-PP-007

N1

Y68

28.00

35.00

7.00

7.00

7.87

0.62

8.48

Y68-22-PP-008

N1

Y68

23.00

24.00

1.00

1.00

3.28

0.90

4.18

Y68-22-PP-009

N1

Y68

24.00

31.00

7.00

7.00

3.87

0.70

4.56

Y68-22-PP-010

N1

Y68

32.00

33.00

1.00

1.00

6.04

0.04

6.08

Y68-22-PP-012

N1

Y68

26.00

27.00

1.00

1.00

3.61

1.06

4.67

Y68-22-PP-013

N1

Y68

28.00

29.00

1.00

1.00

2.77

4.25

7.02

Y68-22-PP-013

N1

Y68

21.00

25.00

4.00

4.00

4.31

0.05

4.36

Y68-22-PP-014

N1

Y68

22.45

26.00

3.55

3.55

7.07

0.83

7.90

Y68-22-PP-019

N1

Y68

25.00

31.00

6.00

6.00

9.94

13.66

23.61

Y68-22-PP-021

N1

Y68

42.00

43.25

1.25

1.25

0.96

0.14

1.10

Y68-22-PP-022

N1

Y68

23.00

24.00

1.00

1.00

4.54

0.76

5.30

Y68-22-PP-023

N1

Y68

23.00

24.00

1.00

1.00

4.07

6.87

10.94

Y68-22-PP-024

N1

Y68

25.00

26.00

1.00

1.00

1.86

0.24

2.09

Y68-22-PP-025

N1

Y68

27.00

28.00

1.00

1.00

0.56

0.12

0.69

Y68-22-PP-027

N1

Y68

23.70

24.70

1.00

1.00

1.41

0.14

1.55

Y68-22-PP-028

N1

Y68

26.00

27.00

1.00

1.00

0.49

0.01

0.50

Y68-22-PP-030

N1

Y68

39.00

40.00

1.00

1.00

2.23

0.01

2.24

Y68-22-PP-031

N1

Y68

22.00

23.00

1.00

1.00

0.43

0.07

0.49

Y68-22-PP-032

N1

Y68

23.20

24.00

0.80

0.80

4.36

2.30

6.66

Y68-22-PP-032

N1

Y68

29.00

30.00

1.00

1.00

4.06

2.79

6.85

Y68-22-PP-034

N1

Y68

37.00

39.00

2.00

2.00

5.55

1.11

6.66

Y68-22-PP-035

N1

Y68

27.00

28.00

1.00

1.00

3.93

0.58

4.51

Y68-22-PP-037

N1

Y68

47.00

48.00

1.00

1.00

5.32

2.92

8.24

Y68-22-PP-037

N1

Y68

35.00

38.00

3.00

3.00

15.21

4.11

19.32

Y68-22-PP-045

N1

Y68

32.00

33.00

1.00

1.00

2.20

0.06

2.26

* Within deposit hydrogeological drill hole
** Off-deposit hydrogeological drill hole

Hydrogeological Program Update

Upcoming hydrogeological testing of some recent exploration drill holes will consist of 1) Profile Tracer Tests that measure water flow and conductivity of the bedrock stratigraphy within these drill holes and 2) injection tests to better understand the aquifer characteristics. These new datasets will be added to the hydrogeological modelling process as we prepare for the feasibility study phase of the Pine Point Project.

Qualified Person

Mr. Robin Adair is the Qualified Person and the Vice President of Exploration for Osisko Metals Incorporated. He is responsible for the technical data reported in this news release, and he is a Professional Geologist registered in the Northwest Territories.

Quality Assurance / Quality Control

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation, and analyses. Drill core samples from the Pine Point project area are securely transported to its core facility on site, where they were logged and sampled. Samples selected for assay are shipped to ALS Canada Ltd.'s preparation facility in Yellowknife. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for a multi-element suite with a 1% upper detection limit for base metals. Samples reporting over 1% for Zn and 1% for Pb are analyzed by assay grade, four acid digestion and ICPAES analysis with an upper detection limit of 30% and 20% respectively. Samples reporting Zn >30% and or Pb >20% are analyzed by traditional titration.

Table 2: Drill Hole Collar Locations (NAD83 (CSRS) Zone 11)

Hole Name

Zone

Deposit

Easting

Northing

Elev. (m)

Azm.

Dip

Length (m)

HG-22-PP-001**

N-1

X71-X68

626833.5

6749138.3

179.4

155

-75

81.0

HG-22-PP-003**

N-1

Y65-Z64

628935.3

6750030.9

181.4

0

-90

50.0

X71-22-PP-001

N-1

X71

625428.4

6748928.1

178.1

0

-90

60.0

X71-22-PP-001A

N-1

X71

625452.7

6748941.2

178.3

248

-70

124.0

X71-22-PP-002

N-1

X71

625460.7

6748925.1

178.5

0

-90

63.0

X71-22-PP-003

N-1

X71

625443.7

6748959.0

178.5

0

-90

65.0

X71-22-PP-004

N-1

X71

625421.2

6748973.4

178.6

0

-90

65.0

X71-22-PP-005

N-1

X71

625555.0

6748939.9

178.1

0

-90

72.0

X71-22-PP-006*

N-1

X71

625509.8

6748919.6

178.3

0

-90

81.0

X71-22-PP-007

N-1

X71

625494.2

6748954.3

178.1

0

-90

75.0

X71-22-PP-008

N-1

X71

625475.4

6748989.1

177.5

0

-90

69.0

X71-22-PP-009

N-1

X71

625501.4

6749038.1

178.1

0

-90

69.0

X71-22-PP-010

N-1

X71

625522.9

6748999.7

178.0

0

-90

75.0

X71-22-PP-011

N-1

X71

625550.1

6749047.9

177.8

0

-90

72.0

X71-22-PP-012

N-1

X71

625607.0

6748944.3

177.9

0

-90

75.0

X71-22-PP-013

N-1

X71

625588.8

6748979.3

177.9

0

-90

75.0

X71-22-PP-014

N-1

X71

625562.3

6749017.6

177.9

0

-90

75.0

X71-22-PP-015

N-1

X71

625592.9

6749054.4

177.8

0

-90

72.0

X71-22-PP-016

N-1

X71

625645.2

6748954.0

178.2

0

-90

66.0

X71-22-PP-017

N-1

X71

625624.2

6748987.7

178.0

0

-90

81.0

X71-22-PP-018

N-1

X71

625612.0

6749021.6

177.9

0

-90

84.0

X71-22-PP-019

N-1

X71

625630.2

6749070.8

177.8

0

-90

66.0

X71-22-PP-020

N-1

X71

625680.1

6748960.7

178.1

0

-90

66.0

X71-22-PP-021

N-1

X71

625665.5

6749002.2

178.0

0

-90

75.0

X71-22-PP-022

N-1

X71

625649.3

6749032.2

178.0

0

-90

81.0

X71-22-PP-023

N-1

X71

625674.3

6749079.2

177.8

0

-90

69.0

X71-22-PP-024

N-1

X71

625717.3

6748978.6

178.1

0

-90

72.0

X71-22-PP-025

N-1

X71

625705.1

6749013.5

178.2

0

-90

72.0

X71-22-PP-026

N-1

X71

625685.7

6749047.4

177.9

0

-90

81.0

X71-22-PP-027

N-1

X71

625712.0

6749082.8

177.9

0

-90

65.0

X71-22-PP-028

N-1

X71

625760.9

6748981.2

178.4

0

-90

72.0

X71-22-PP-029

N-1

X71

625746.9

6749014.8

178.2

0

-90

75.0

X71-22-PP-030

N-1

X71

625729.8

6749048.7

178.0

0

-90

75.0

X71-22-PP-031

N-1

X71

625736.4

6749121.5

177.9

0

-90

60.0

X71-22-PP-032

N-1

X71

625778.8

6749044.5

178.1

0

-90

69.0

X71-22-PP-033

N-1

X71

625760.3

6749081.4

178.1

0

-90

69.0

X71-22-PP-034

N-1

X71

625812.0

6749058.3

178.0

0

-90

72.0

X71-22-PP-035

N-1

X71

625788.3

6749096.1

177.6

0

-90

72.0

X71-22-PP-036

N-1

X71

625769.3

6749152.0

177.7

0

-90

96.0

X71-22-PP-037

N-1

X71

625780.7

6749179.5

177.6

0

-90

72.0

X71-22-PP-038

N-1

X71

625807.3

6749147.0

177.8

0

-90

69.0

X71-22-PP-039

N-1

X71

625885.8

6749002.9

178.1

0

-90

75.0

X71-22-PP-040

N-1

X71

625866.6

6749039.9

177.8

0

-90

78.0

X71-22-PP-041

N-1

X71

625848.1

6749075.7

177.9

0

-90

75.0

X71-22-PP-042

N-1

X71

625828.1

6749105.3

177.8

0

-90

72.0

X71-22-PP-043

N-1

X71

625839.1

6749168.1

177.5

0

-90

81.0

X71-22-PP-045

N-1

X71

625878.6

6749091.4

177.6

0

-90

81.0

X71-22-PP-046

N-1

X71

625857.8

6749129.8

177.3

0

-90

96.0

X71-22-PP-047

N-1

X71

625863.9

6749195.0

177.5

0

-90

60.0

X71-22-PP-048

N-1

X71

625941.8

6749050.7

177.8

0

-90

72.0

X71-22-PP-049

N-1

X71

625928.5

6749082.7

177.8

0

-90

75.0

X71-22-PP-050

N-1

X71

625912.7

6749118.9

177.3

0

-90

72.0

X71-22-PP-051*

N-1

X71

625892.1

6749155.8

178.3

0

-90

79.5

X71-22-PP-052

N-1

X71

625912.7

6749204.5

177.7

0

-90

72.0

X71-22-PP-053

N-1

X71

625982.9

6749064.5

178.1

0

-90

72.0

X71-22-PP-054

N-1

X71

625963.5

6749089.5

177.8

0

-90

75.0

X71-22-PP-055

N-1

X71

625946.3

6749128.4

177.8

0

-90

72.0

X71-22-PP-056

N-1

X71

625922.8

6749171.1

177.1

0

-90

66.0

Y65-22-PP-001

N-1

Y65

628783.2

6750150.0

178.9

0

-90

51.0

Y65-22-PP-002

N-1

Y65

628710.8

6750201.0

178.6

0

-90

42.0

Y65-22-PP-003

N-1

Y65

628691.1

6750160.2

178.9

0

-90

45.0

Y65-22-PP-004

N-1

Y65

628674.1

6750109.7

179.1

0

-90

30.0

Y65-22-PP-005

N-1

Y65

628660.9

6750137.4

178.9

0

-90

36.0

Y65-22-PP-006

N-1

Y65

628640.0

6750088.4

179.0

0

-90

33.0

Y65-22-PP-007

N-1

Y65

628619.6

6750122.3

178.9

0

-90

39.0

Y65-22-PP-008

N-1

Y65

628587.0

6750100.0

178.7

0

-90

39.0

Y65-22-PP-009*

N-1

Y65

628536.2

6750112.5

178.8

0

-90

61.0

Y65-22-PP-010

N-1

Y65

628549.3

6750087.7

179.0

0

-90

45.0

Y65-22-PP-011

N-1

Y65

628523.8

6750050.6

179.5

0

-90

43.0

Y65-22-PP-012

N-1

Y65

628486.7

6750042.4

179.4

0

-90

39.0

Y65-22-PP-013

N-1

Y65

628440.6

6750046.4

179.3

0

-90

54.0

Y65-22-PP-014

N-1

Y65

628446.4

6750105.8

178.9

0

-90

44.0

Y65-22-PP-015

N-1

Y65

628412.5

6750020.4

179.2

0

-90

39.0

Y68-22-PP-003

N-1

Y68

627410.9

6749681.8

178.9

0

-90

39.0

Y68-22-PP-004

N-1

Y68

627382.7

6749660.6

178.9

0

-90

39.0

Y68-22-PP-006

N-1

Y68

627386.1

6749628.6

178.9

0

-90

36.0

Y68-22-PP-007

N-1

Y68

627434.1

6749645.8

179.3

0

-90

39.0

Y68-22-PP-008

N-1

Y68

627445.8

6749605.0

179.1

0

-90

32.0

Y68-22-PP-009

N-1

Y68

627467.8

6749649.3

179.1

0

-90

48.0

Y68-22-PP-010

N-1

Y68

627452.6

6749681.4

178.9

0

-90

42.0

Y68-22-PP-012

N-1

Y68

627550.8

6749675.2

179.1

0

-90

35.0

Y68-22-PP-013

N-1

Y68

627527.9

6749704.5

179.2

0

-90

33.0

Y68-22-PP-014

N-1

Y68

627579.7

6749700.5

179.1

0

-90

30.0

Y68-22-PP-019

N-1

Y68

627646.3

6749760.8

179.1

0

-90

51.0

Y68-22-PP-021

N-1

Y68

627664.5

6749711.4

179.3

0

-90

48.0

Y68-22-PP-022

N-1

Y68

627699.5

6749736.4

179.3

0

-90

39.0

Y68-22-PP-023

N-1

Y68

627678.8

6749771.3

179.2

0

-90

45.0

Y68-22-PP-024

N-1

Y68

627714.3

6749779.0

179.2

0

-90

45.0

Y68-22-PP-025

N-1

Y68

627640.2

6749836.4

178.9

0

-90

45.0

Y68-22-PP-027

N-1

Y68

627659.3

6749809.8

179.2

0

-90

39.0

Y68-22-PP-028

N-1

Y68

627695.0

6749849.0

179.2

0

-90

42.0

Y68-22-PP-030

N-1

Y68

627739.2

6749813.8

179.2

0

-90

45.0

Y68-22-PP-031

N-1

Y68

627754.7

6749708.1

179.3

0

-90

30.0

Y68-22-PP-032

N-1

Y68

627766.4

6749733.5

179.4

0

-90

30.0

Y68-22-PP-034

N-1

Y68

627754.5

6749779.7

179.3

0

-90

45.0

Y68-22-PP-035

N-1

Y68

627813.3

6749747.4

179.3

0

-90

33.0

Y68-22-PP-037

N-1

Y68

627827.4

6749870.0

178.9

0

-90

54.0

Y68-22-PP-045

N-1

Y68

628156.1

6749905.5

179.4

0

-90

40.0

* Within deposit hydrogeological drill hole
** Off-deposit hydrogeological drill hole

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals space. The Company controls one of Canada’s premier past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories for which the 2022 PEA has indicated an after-tax NPV of $603M and an IRR of 25% is based on the current Mineral Resource Estimates that are amenable to open pit and shallow underground mining and consist of 15.7Mt grading 5.55% ZnEq of Indicated Mineral Resources and 47.2Mt grading 5.94% ZnEq of Inferred Mineral Resources. Please refer to the technical report entitled “Preliminary Economic Assessment, Pine Point Project, Hay River, Northwest Territories, Canada” dated July 30, which has been filed on SEDAR. The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, and paved highway access, and also has an electrical substation as well as 100 kilometres of viable haulage roads already in place.

The Company is also in the process of acquiring, from Glencore Canada, a 100% interest in the past-producing Gaspé Copper Mine, located near Murdochville in the Gaspé peninsula of Quebec. The Company is currently focused on resource evaluation of the Mount Copper Expansion Project that hosts a NI43-101 Inferred Resource of 456Mt grading 0.31% Cu (see April 28, 2022 press release). Gaspé Copper hosts the largest undeveloped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Quebec.

For further information on this press release, visit www.osiskometals.com or contact:

Robert Wares, CEO Osisko Metals Incorporated

Email: info@osiskometals.com
www.osiskometals.com

Cautionary Statement on 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. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and constitute forward-looking information. This news release may contain forward-looking information pertaining to the Pine Point Project, including, among other things, the results of the PEA and the IRR, NPV and estimated costs, production, production rate and mine life; the expectation that the Pine Point Project will be an robust operation and profitable at a variety of prices and assumptions; the expected high quality of the Pine Point concentrates; the potential impact of the Pine Point Project in the Northwest Territories, including but not limited to the potential generation of tax revenue and contribution of jobs; and the Pine Point Project having the potential for mineral resource expansion and new discoveries. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: favourable equity and debt capital markets; the ability to raise additional capital on reasonable terms to advance the development of its projects and pursue planned exploration; future prices of zinc and lead; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; operating conditions being favourable; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of equipment; and positive relations with local groups. 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. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public documents filed at www.sedar.com. Although the Company 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. The Company 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this news release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9b0fcf64-357f-4e48-9c6b-c9a77d770ea2