Canada markets closed
  • 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

    0.7513
    +0.0007 (+0.09%)
     
  • CRUDE OIL

    79.38
    -0.30 (-0.38%)
     
  • BTC-CAD

    31,610.98
    +792.90 (+2.57%)
     
  • CMC Crypto 200

    526.66
    +9.65 (+1.87%)
     
  • GOLD FUTURES

    1,943.90
    -1.70 (-0.09%)
     
  • RUSSELL 2000

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

    3.5180
    +0.0250 (+0.72%)
     
  • NASDAQ

    11,621.71
    +109.31 (+0.95%)
     
  • VOLATILITY

    18.51
    -0.22 (-1.17%)
     
  • FTSE

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

    27,382.56
    +19.76 (+0.07%)
     
  • CAD/EUR

    0.6910
    +0.0019 (+0.28%)
     

Osisko Metals Announces Drill Results With up to 21.00 Metres Grading 11.65% Zinc and 1.57% Lead

Osisko Metals Incorporated
Osisko Metals Incorporated

221121 Pine Point Definition Drilling Map

Figure 1. Pine Point Definition Drilling Update
Figure 1. Pine Point Definition Drilling Update

MONTREAL, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce additional results from the 2022 definition drilling program at its Pine Point Project, located in the Northwest Territories, Canada. As the Company drives towards a feasibility study, this continuous drill program is designed to achieve an average drill spacing of approximately 30 metres within current mineral resources. This spacing is intended to upgrade resources presently classified as Inferred to the Indicated category in order to be used in the feasibility to be initiated in H2 2023.

Drill Hole Assay Composite Highlights:

  • X25-22-PP-020: 9.00 metres, grading 10.51% Zn and 3.52% Pb (14.03% Zn+Pb)

  • X61-22-PP-002: 11.50 metres, grading 9.37% Zn and 4.99% Pb (14.36% Zn+Pb)

  • X64-22-PP-002: 21.00 metres, grading 11.65% Zn and 1.57% Pb (13.22% Zn+Pb)

  • X68-22-PP-034: 6.00 metres, grading 12.73% Zn and 2.50% Pb (15.23% Zn+Pb)

Jeff Hussey, President & COO, commented: “We continue to be encouraged by the positive definition drilling results from Pine Point. A revised and updated mineral resource will be calculated and used for the feasibility study that we plan to initiate in 2023. On a zinc-only basis, Pine Point could potentially become a top ten global low-cost zinc-lead producer ranking fourth largest in the Americas, producing an exceptionally clean and high-grade zinc concentrate that would be sought after by any number of smelters and traders globally.”

In August of this year, the Company filed the 2022 Preliminary Economic Assessment (“PEA”) that included higher commodity prices and reduced dewatering volume estimates and associated costs. The PEA Update was prepared in collaboration with independent engineering firms BBA Inc., WSP Canada Inc., & Hydro-Resources Inc. (“HRI”). Please see the press release of July 13, 2022 for more details.

All intercepts reported below were within, or immediately adjacent to, the currently modelled and proposed open pit shells designed for 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 and West Zone deposits (X25, X61, X64, X68, Y53, Y62, and Z60) to the Indicated Mineral Resource category (See Map). In the North Zone, shallow zinc and lead sulphides were intersected between 16 and 82.7 metres vertical depth. Drilling at the X25 deposit in the West Zone intersected mineralization between 90 and 143.5 metres vertical depth.

All reported results are from Tabular-style deposits characterized by continuous, flat-lying mineralization. More vertically continuous Prismatic-style mineralization was locally encountered within the Tabular-style mineralization.

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**

 

Hydro-Geo

65.00

66.00

1.00

1.00

6.25

0.73

6.98

HG-22-PP-002**

 

Hydro-Geo

33.00

34.00

1.00

1.00

0.36

0.02

0.38

HG-22-PP-003**

 

Hydro-Geo

20.00

21.00

1.00

1.00

0.32

0.15

0.47

X25-22-PP-001

West

X25

140.00

141.00

1.00

1.00

2.50

0.04

2.54

X25-22-PP-004

West

X25

99.00

100.00

1.00

1.00

0.01

0.00

0.01

X25-22-PP-005

West

X25

143.50

144.50

1.00

1.00

5.43

0.24

5.67

X25-22-PP-006

West

X25

138.00

141.00

3.00

3.00

24.32

3.99

28.31

X25-22-PP-007

West

X25

117.00

118.00

1.00

1.00

0.00

0.00

0.01

X25-22-PP-008

West

X25

123.00

124.00

1.00

1.00

0.00

0.00

0.00

X25-22-PP-011

West

X25

124.00

125.00

1.00

1.00

0.00

0.00

0.00

X25-22-PP-012*

West

X25

128.00

129.00

1.00

1.00

0.01

0.00

0.01

X25-22-PP-013

West

X25

109.00

110.00

1.00

1.00

0.00

0.00

0.00

X25-22-PP-016

West

X25

134.00

141.00

7.00

7.00

21.08

2.59

23.67

X25-22-PP-020

West

X25

90.00

91.00

1.00

1.00

7.49

1.94

9.43

X25-22-PP-020

West

X25

108.00

117.00

9.00

9.00

10.51

3.52

14.03

X25-22-PP-020

West

X25

126.00

128.00

2.00

2.00

7.88

4.61

12.49

X25-22-PP-021*

West

X25

82.70

84.00

1.30

1.30

0.02

0.01

0.03

X61-22-PP-001

N1

X61

30.00

34.10

4.10

4.10

23.44

5.58

29.02

X61-22-PP-001

N1

X61

42.00

48.00

6.00

6.00

11.62

4.49

16.11

X61-22-PP-002

N1

X61

23.50

35.00

11.50

11.50

9.37

4.99

14.36

X61-22-PP-002

N1

X61

46.00

56.00

10.00

10.00

12.16

2.48

14.64

X61-22-PP-003

N1

X61

42.30

43.00

0.70

0.70

16.15

2.20

18.35

X61-22-PP-004

N1

X61

42.00

43.00

1.00

1.00

3.40

0.29

3.69

X61-22-PP-005*

N1

X61

37.00

38.00

1.00

1.00

2.08

0.08

2.16

X61-22-PP-006

N1

X61

49.00

50.10

1.10

1.10

13.95

3.74

17.69

X61-22-PP-007

N1

X61

47.00

48.00

1.00

1.00

5.45

0.84

6.29

X64-22-PP-001

N1

X64

33.00

34.00

1.00

1.00

0.22

0.00

0.22

X64-22-PP-002

N1

X64

32.00

53.00

21.00

21.00

11.65

1.57

13.22

X64-22-PP-003

N1

X64

36.00

47.00

11.00

11.00

10.82

1.30

12.12

X64-22-PP-004

N1

X64

39.00

40.00

1.00

1.00

0.26

0.00

0.26

X64-22-PP-005

N1

X64

35.00

36.00

1.00

1.00

7.68

1.84

9.52

X64-22-PP-006

N1

X64

37.00

40.00

3.00

3.00

3.48

2.61

6.09

X64-22-PP-007

N1

X64

38.15

39.00

0.85

0.85

18.00

14.60

32.60

X64-22-PP-008

N1

X64

38.00

39.00

1.00

1.00

3.43

0.52

3.95

X64-22-PP-009*

N1

X64

39.00

44.15

5.15

5.15

5.43

1.68

7.11

X64-22-PP-010

N1

X64

41.00

42.00

1.00

1.00

2.36

0.77

3.13

X64-22-PP-011

N1

X64

42.00

43.00

1.00

1.00

10.15

3.95

14.10

X64-22-PP-012

N1

X64

38.50

40.00

1.50

1.50

25.97

10.39

36.35

X64-22-PP-013

N1

X64

16.00

17.00

1.00

1.00

11.90

0.46

12.36

X64-22-PP-013

N1

X64

53.00

55.00

2.00

2.00

5.23

0.08

5.31

X64-22-PP-014

N1

X64

34.75

35.75

1.00

1.00

25.90

9.96

35.86

X64-22-PP-014

N1

X64

47.00

51.00

4.00

4.00

5.29

0.99

6.28

X68-22-PP-001

N1

X68

39.00

40.00

1.00

1.00

3.77

0.70

4.47

X68-22-PP-002

N1

X68

34.00

42.00

8.00

8.00

5.34

0.81

6.15

X68-22-PP-003

N1

X68

36.00

37.00

1.00

1.00

6.08

0.24

6.32

X68-22-PP-004

N1

X68

37.00

42.00

5.00

5.00

6.40

0.59

6.99

X68-22-PP-005

N1

X68

34.00

35.00

1.00

1.00

1.21

0.08

1.29

X68-22-PP-006

N1

X68

39.00

43.00

4.00

4.00

6.22

0.22

6.43

X68-22-PP-007

N1

X68

41.00

42.00

1.00

1.00

0.94

0.11

1.05

X68-22-PP-008

N1

X68

33.00

34.00

1.00

1.00

12.90

4.45

17.35

X68-22-PP-009

N1

X68

31.00

32.00

1.00

1.00

0.03

0.00

0.03

X68-22-PP-010

N1

X68

28.00

29.00

1.00

1.00

0.08

0.00

0.08

X68-22-PP-011

N1

X68

33.00

34.00

1.00

1.00

15.90

2.40

18.30

X68-22-PP-012

N1

X68

30.00

31.00

1.00

1.00

0.98

0.05

1.03

X68-22-PP-013

N1

X68

25.00

26.00

1.00

1.00

0.05

0.00

0.05

X68-22-PP-014

N1

X68

29.00

30.00

1.00

1.00

0.51

0.07

0.58

X68-22-PP-015

N1

X68

29.00

31.00

2.00

2.00

11.62

1.61

13.23

X68-22-PP-015

N1

X68

36.00

37.00

1.00

1.00

7.76

0.72

8.48

X68-22-PP-016

N1

X68

26.00

27.00

1.00

1.00

0.00

0.00

0.00

X68-22-PP-017

N1

X68

36.00

37.00

1.00

1.00

1.85

0.14

1.98

X68-22-PP-018

N1

X68

35.00

36.00

1.00

1.00

5.82

1.00

6.82

X68-22-PP-019

N1

X68

36.00

36.50

0.50

0.50

0.26

0.12

0.38

X68-22-PP-020

N1

X68

31.00

31.50

0.50

0.50

7.17

1.13

8.30

X68-22-PP-021

N1

X68

32.00

33.00

1.00

1.00

2.97

1.55

4.52

X68-22-PP-022

N1

X68

33.00

34.00

1.00

1.00

0.23

0.06

0.28

X68-22-PP-023

N1

X68

37.00

38.00

1.00

1.00

1.56

0.03

1.59

X68-22-PP-024

N1

X68

33.50

37.00

3.50

3.50

13.50

2.76

16.25

X68-22-PP-025

N1

X68

40.00

41.00

1.00

1.00

0.37

0.01

0.38

X68-22-PP-026

N1

X68

30.00

31.00

1.00

1.00

2.77

0.56

3.33

X68-22-PP-027

N1

X68

33.00

38.00

5.00

5.00

7.29

2.05

9.33

X68-22-PP-028

N1

X68

33.00

36.00

3.00

3.00

8.93

0.78

9.71

X68-22-PP-029

N1

X68

26.00

27.00

1.00

1.00

0.01

0.02

0.03

X68-22-PP-030

N1

X68

32.00

39.00

7.00

7.00

5.94

0.89

6.83

X68-22-PP-031

N1

X68

44.00

45.00

1.00

1.00

0.33

0.02

0.35

X68-22-PP-032

N1

X68

28.00

29.00

1.00

1.00

0.04

0.00

0.04

X68-22-PP-033

N1

X68

32.00

34.00

2.00

2.00

11.42

5.46

16.88

X68-22-PP-034

N1

X68

37.00

43.00

6.00

6.00

12.73

2.50

15.23

X68-22-PP-035*

N1

X68

30.00

31.00

1.00

1.00

0.00

0.00

0.00

Y53-22-PP-001

N1

Y53

26.00

28.00

2.00

2.00

12.97

2.26

15.22

Y53-22-PP-002

N1

Y53

27.00

29.75

2.75

2.75

12.00

2.44

14.44

Y53-22-PP-003*

N1

Y53

28.00

29.00

1.00

1.00

2.28

0.38

2.66

Y53-22-PP-004

N1

Y53

22.10

23.00

0.90

0.90

0.30

0.10

0.40

Y53-22-PP-005

N1

Y53

28.00

30.00

2.00

2.00

3.72

0.85

4.56

Y53-22-PP-006

N1

Y53

32.00

33.50

1.50

1.50

14.08

4.43

18.51

Y53-22-PP-007

N1

Y53

31.15

34.55

3.40

3.40

42.36

6.79

49.15

Y53-22-PP-008

N1

Y53

31.75

36.00

4.25

4.25

24.21

3.87

28.08

Y53-22-PP-009

N1

Y53

34.00

34.65

0.65

0.65

13.15

2.65

15.80

Y53-22-PP-010

N1

Y53

29.60

30.00

0.40

0.40

20.30

1.40

21.70

Y53-22-PP-011

N1

Y53

29.00

30.00

1.00

1.00

0.22

0.02

0.25

Y53-22-PP-012

N1

Y53

21.00

22.00

1.00

1.00

0.02

0.00

0.02

Y53-22-PP-013

N1

Y53

21.00

21.50

0.50

0.50

0.07

0.03

0.10

Y53-22-PP-014*

N1

Y53

21.00

22.00

1.00

1.00

0.14

0.02

0.16

Y53-22-PP-015

N1

Y53

20.00

21.00

1.00

1.00

0.21

0.01

0.22

Y62-22-PP-001

N1

Y62

48.00

49.00

1.00

1.00

6.20

1.59

7.79

Y62-22-PP-002

N1

Y62

32.00

34.00

2.00

2.00

8.91

1.40

10.30

Y62-22-PP-003*

N1

Y62

48.00

49.00

1.00

1.00

4.93

0.31

5.24

Y62-22-PP-004

N1

Y62

45.00

46.00

1.00

1.00

5.21

1.57

6.78

Y62-22-PP-005

N1

Y62

34.90

37.00

2.10

2.10

3.72

0.28

4.00

Y62-22-PP-006

N1

Y62

44.00

49.00

5.00

5.00

8.51

1.03

9.54

Y62-22-PP-007

N1

Y62

34.00

38.10

4.10

4.10

7.29

1.21

8.51

Y62-22-PP-007

N1

Y62

41.90

43.00

1.10

1.10

8.03

2.37

10.40

Y62-22-PP-008

N1

Y62

37.00

44.00

7.00

7.00

11.66

3.58

15.25

Y62-22-PP-009

N1

Y62

40.00

49.00

9.00

9.00

6.33

0.65

6.98

Y62-22-PP-010

N1

Y62

38.00

44.00

6.00

6.00

7.89

0.86

8.74

Y62-22-PP-011

N1

Y62

42.00

43.00

1.00

1.00

10.80

1.45

12.25

Y62-22-PP-012

N1

Y62

40.00

41.00

1.00

1.00

2.93

1.58

4.51

Y62-22-PP-013

N1

Y62

43.00

44.00

1.00

1.00

2.16

0.13

2.29

Y62-22-PP-014

N1

Y62

36.00

37.00

1.00

1.00

1.78

0.13

1.91

Y62-22-PP-015

N1

Y62

34.00

35.00

1.00

1.00

2.60

4.64

7.24

Y62-22-PP-016

N1

Y62

41.00

46.00

5.00

5.00

9.55

10.09

19.64

Y62-22-PP-017

N1

Y62

51.00

54.00

3.00

3.00

7.38

3.49

10.86

Y62-22-PP-018

N1

Y62

46.00

48.00

2.00

2.00

6.55

2.55

9.10

Y62-22-PP-019

N1

Y62

49.00

51.00

2.00

2.00

5.05

0.01

5.06

Y62-22-PP-020

N1

Y62

37.00

39.00

2.00

2.00

6.32

2.20

8.52

Y62-22-PP-020

N1

Y62

59.00

60.00

1.00

1.00

7.00

1.08

8.08

Y62-22-PP-021

N1

Y62

60.00

61.00

1.00

1.00

2.92

0.50

3.42

Y62-22-PP-022

N1

Y62

54.00

57.00

3.00

3.00

5.92

0.64

6.56

Y62-22-PP-023

N1

Y62

37.00

38.00

1.00

1.00

1.64

1.09

2.73

Y62-22-PP-024

N1

Y62

37.80

39.00

1.20

1.20

1.64

0.28

1.92

Y62-22-PP-025

N1

Y62

44.00

46.00

2.00

2.00

9.26

2.32

11.57

Y62-22-PP-026

N1

Y62

39.00

40.00

1.00

1.00

0.02

0.01

0.03

Y62-22-PP-027

N1

Y62

44.00

46.00

2.00

2.00

7.65

5.89

13.54

Y62-22-PP-028*

N1

Y62

34.00

35.20

1.20

1.20

4.27

0.08

4.35

Y62-22-PP-029

N1

Y62

39.00

40.00

1.00

1.00

1.91

0.02

1.92

Y62-22-PP-030

N1

Y62

32.00

42.00

10.00

10.00

8.88

0.42

9.30

Y62-22-PP-031

N1

Y62

44.00

45.00

1.00

1.00

3.38

0.44

3.82

Y62-22-PP-032

N1

Y62

40.10

41.00

0.90

0.90

25.40

0.05

25.45

Y62-22-PP-032

N1

Y62

48.00

49.10

1.10

1.10

5.74

3.26

9.00

Y62-22-PP-033

N1

Y62

38.00

41.00

3.00

3.00

9.63

10.79

20.41

Z60-22-PP-001

N1

Z60

18.00

19.00

1.00

1.00

0.25

0.00

0.25

Z60-22-PP-002

N1

Z60

21.00

22.00

1.00

1.00

0.06

0.01

0.07

Z60-22-PP-003

N1

Z60

27.00

28.00

1.00

1.00

0.00

0.00

0.00

Z60-22-PP-004*

N1

Z60

29.00

30.00

1.00

1.00

0.01

0.00

0.01

Z60-22-PP-005

N1

Z60

23.00

24.00

1.00

1.00

0.00

0.00

0.01

Z60-22-PP-006

N1

Z60

19.90

21.00

1.10

1.10

0.03

0.00

0.03

Z60-22-PP-007

N1

Z60

21.00

22.00

1.00

1.00

0.01

0.00

0.01

Z60-22-PP-008

N1

Z60

20.00

20.65

0.65

0.65

1.33

0.16

1.49

Z60-22-PP-009

N1

Z60

18.00

19.00

1.00

1.00

0.00

0.00

0.00

Z60-22-PP-010

N1

Z60

17.00

18.00

1.00

1.00

0.02

0.01

0.03

Z60-22-PP-011

N1

Z60

19.00

20.00

1.00

1.00

0.70

0.17

0.87

Z60-22-PP-012

N1

Z60

18.00

19.00

1.00

1.00

0.96

0.01

0.97

Z60-22-PP-013

N1

Z60

25.00

25.80

0.80

0.80

1.17

0.38

1.55

Z60-22-PP-014

N1

Z60

23.00

24.00

1.00

1.00

1.55

0.30

1.85

* Within-deposit hydrogeological drill hole
** Off-deposit hydrogeological drill hole
Special note: X64 (in italics) is included under the X65 deposit in the 2022 PEA

Hydrogeological Program Update

Ongoing hydrogeological modelling of the past two years has consisted of: 1) Profile Tracer Tests which measure groundwater flow and conductivity of the bedrock stratigraphy within the drill hole, 2) Injection Tests to model the aquifer characteristics, and 3) Physio-chemical measurements of the water within the drill holes to characterize the groundwater in and around the deposits. The model is continuously evolving while incorporating new data from field tests. The updated hydrogeological model will be used to continuously improve forecasts for dewatering volume estimates that will be used in the Pine Point feasibility study planned for H2 of 2023.

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 are 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 ICP-AES analysis with an upper detection limit of 30% and 20%, respectively. Samples with 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**

 

Hydro-Geo

626833.5

6749138.3

179.4

155

-75

81.0

HG-22-PP-002**

 

Hydro-Geo

630485.0

6751338.5

180.4

0

-90

66.0

HG-22-PP-003**

 

Hydro-Geo

628935.3

6750030.9

181.4

0

-90

50.0

X25-22-PP-001

West

X25

606466.9

6735951.2

209.1

0

-90

156.0

X25-22-PP-004

West

X25

606624.0

6735941.5

209.5

0

-90

162.0

X25-22-PP-005

West

X25

606607.3

6735965.6

209.8

0

-90

153.0

X25-22-PP-006

West

X25

606589.8

6735943.2

209.7

0

-90

159.0

X25-22-PP-007

West

X25

606550.6

6735973.9

209.7

0

-90

161.0

X25-22-PP-008

West

X25

606524.0

6735987.1

209.4

0

-90

159.0

X25-22-PP-011

West

X25

606574.2

6735929.0

209.6

0

-90

150.0

X25-22-PP-012*

West

X25

606591.1

6735892.3

209.8

0

-90

160.0

X25-22-PP-013

West

X25

606575.9

6735877.2

209.0

0

-90

153.0

X25-22-PP-016

West

X25

606504.4

6735921.1

209.1

0

-90

160.0

X25-22-PP-020

West

X25

606419.2

6735936.2

209.0

0

-90

156.0

X25-22-PP-021*

West

X25

606472.2

6735883.5

208.9

0

-90

153.0

X61-22-PP-001

N1

X61

630599.4

6751525.2

178.7

0

-90

54.0

X61-22-PP-002

N1

X61

630518.9

6751495.0

178.6

0

-90

63.0

X61-22-PP-003

N1

X61

630448.9

6751462.4

178.6

0

-90

47.0

X61-22-PP-004

N1

X61

630412.8

6751455.4

178.8

0

-90

48.0

X61-22-PP-005*

N1

X61

630431.8

6751511.3

178.4

0

-90

54.0

X61-22-PP-006

N1

X61

630748.6

6751599.0

180.2

0

-90

54.0

X61-22-PP-007

N1

X61

630756.6

6751572.1

180.0

0

-90

65.0

X64-22-PP-001

N1

X64

628606.7

6750547.2

178.6

0

-90

45.0

X64-22-PP-002

N1

X64

628626.4

6750578.3

178.1

0

-90

60.0

X64-22-PP-003

N1

X64

628653.0

6750578.6

178.3

0

-90

57.0

X64-22-PP-004

N1

X64

628706.3

6750572.6

178.1

0

-90

48.0

X64-22-PP-005

N1

X64

628729.3

6750585.7

178.1

0

-90

45.0

X64-22-PP-006

N1

X64

628807.2

6750629.7

177.9

0

-90

48.0

X64-22-PP-007

N1

X64

628781.3

6750625.0

178.2

0

-90

48.0

X64-22-PP-008

N1

X64

628770.0

6750595.3

178.0

0

-90

45.0

X64-22-PP-009*

N1

X64

628841.4

6750588.2

177.9

0

-90

54.0

X64-22-PP-010

N1

X64

628805.4

6750590.2

178.2

0

-90

54.0

X64-22-PP-011

N1

X64

628794.6

6750558.1

178.2

0

-90

51.0

X64-22-PP-012

N1

X64

628736.7

6750467.1

178.3

0

-90

51.0

X64-22-PP-013

N1

X64

628809.5

6750389.9

178.4

0

-90

60.0

X64-22-PP-014

N1

X64

628785.7

6750355.5

178.5

0

-90

66.0

X68-22-PP-001

N1

X68

627571.0

6749199.0

180.1

0

-90

48.0

X68-22-PP-002

N1

X68

627566.0

6749219.0

180.1

0

-90

48.0

X68-22-PP-003

N1

X68

627502.4

6749207.0

180.0

0

-90

48.0

X68-22-PP-004

N1

X68

627518.7

6749187.0

180.0

0

-90

45.0

X68-22-PP-005

N1

X68

627526.2

6749171.0

180.0

0

-90

45.0

X68-22-PP-006

N1

X68

627495.6

6749178.0

180.0

0

-90

48.0

X68-22-PP-007

N1

X68

627505.4

6749153.0

179.9

0

-90

51.0

X68-22-PP-008

N1

X68

627447.4

6749165.0

179.9

0

-90

45.0

X68-22-PP-009

N1

X68

627456.4

6749137.0

180.0

0

-90

48.0

X68-22-PP-010

N1

X68

627420.2

6749158.0

180.0

0

-90

45.0

X68-22-PP-011

N1

X68

627431.9

6749130.0

180.0

0

-90

45.0

X68-22-PP-012

N1

X68

627113.1

6749062.0

179.7

0

-90

42.0

X68-22-PP-013

N1

X68

627138.2

6749008.0

179.9

0

-90

42.0

X68-22-PP-014

N1

X68

627142.2

6749068.0

179.5

0

-90

39.0

X68-22-PP-015

N1

X68

627153.8

6749045.0

179.7

0

-90

39.0

X68-22-PP-016

N1

X68

627166.8

6749019.0

180.0

0

-90

45.0

X68-22-PP-017

N1

X68

627178.4

6748997.0

179.9

0

-90

39.0

X68-22-PP-018

N1

X68

627169.2

6749082.0

179.7

0

-90

42.0

X68-22-PP-019

N1

X68

627198.8

6749033.0

179.8

0

-90

42.0

X68-22-PP-020

N1

X68

627206.6

6749079.0

179.8

0

-90

36.0

X68-22-PP-021

N1

X68

627216.2

6749057.0

180.0

0

-90

42.0

X68-22-PP-022

N1

X68

627228.5

6749031.0

179.8

0

-90

42.0

X68-22-PP-023

N1

X68

627227.3

6749103.0

179.6

0

-90

45.0

X68-22-PP-024

N1

X68

627239.4

6749077.5

179.7

0

-90

42.0

X68-22-PP-025

N1

X68

627251.7

6749051.0

180.0

0

-90

45.0

X68-22-PP-026

N1

X68

627080.8

6749064.0

179.2

0

-90

42.0

X68-22-PP-027

N1

X68

627094.4

6749036.0

179.6

0

-90

42.0

X68-22-PP-028

N1

X68

627109.7

6749010.0

179.8

0

-90

45.0

X68-22-PP-029

N1

X68

627123.7

6748977.0

179.9

0

-90

42.0

X68-22-PP-030

N1

X68

627061.7

6749036.0

179.7

0

-90

42.0

X68-22-PP-031

N1

X68

627092.8

6748978.0

179.7

0

-90

48.0

X68-22-PP-032

N1

X68

627052.8

6749005.0

179.8

0

-90

30.0

X68-22-PP-033

N1

X68

627307.7

6749133.4

179.9

0

-90

45.0

X68-22-PP-034

N1

X68

627375.5

6749121.3

180.1

0

-90

48.0

X68-22-PP-035*

N1

X68

627323.0

6749097.2

179.9

0

-90

57.0

Y53-22-PP-001

N1

Y53

634124.0

6752987.4

182.0

0

-90

33.0

Y53-22-PP-002

N1

Y53

634105.0

6753021.5

183.1

0

-90

33.0

Y53-22-PP-003*

N1

Y53

634070.9

6753001.9

182.9

0

-90

33.0

Y53-22-PP-004

N1

Y53

634035.1

6752973.7

181.5

0

-90

27.0

Y53-22-PP-005

N1

Y53

634052.5

6752943.4

181.5

0

-90

36.0

Y53-22-PP-006

N1

Y53

634018.7

6752925.7

182.0

0

-90

36.0

Y53-22-PP-007

N1

Y53

633881.9

6752885.8

181.9

0

-90

36.0

Y53-22-PP-008

N1

Y53

633951.3

6752876.5

181.8

0

-90

42.0

Y53-22-PP-009

N1

Y53

633873.2

6752820.1

181.5

0

-90

39.0

Y53-22-PP-010

N1

Y53

633888.6

6752794.0

182.0

0

-90

33.0

Y53-22-PP-011

N1

Y53

633969.4

6752846.9

182.0

0

-90

36.0

Y53-22-PP-012

N1

Y53

633987.0

6752824.7

181.4

0

-90

33.0

Y53-22-PP-013

N1

Y53

633985.5

6752802.5

181.8

0

-90

33.0

Y53-22-PP-014*

N1

Y53

633788.0

6752811.7

181.6

0

-90

33.0

Y53-22-PP-015

N1

Y53

633755.3

6752774.1

181.6

0

-90

27.0

Y62-22-PP-001

N1

Y62

629533.6

6750972.1

177.6

0

-90

51.0

Y62-22-PP-002

N1

Y62

629537.7

6751013.4

177.5

0

-90

48.0

Y62-22-PP-003*

N1

Y62

629563.7

6750966.3

177.7

0

-90

51.0

Y62-22-PP-004

N1

Y62

629560.7

6750996.5

177.8

0

-90

54.0

Y62-22-PP-005

N1

Y62

629579.7

6751031.9

177.7

0

-90

42.0

Y62-22-PP-006

N1

Y62

629593.3

6751000.5

178.1

0

-90

54.0

Y62-22-PP-007

N1

Y62

629618.1

6751063.9

177.4

0

-90

45.0

Y62-22-PP-008

N1

Y62

629629.7

6751035.8

177.6

0

-90

54.0

Y62-22-PP-009

N1

Y62

629665.0

6751057.6

177.7

0

-90

54.0

Y62-22-PP-010

N1

Y62

629738.0

6751098.3

177.9

0

-90

48.0

Y62-22-PP-011

N1

Y62

629705.0

6751078.4

177.9

0

-90

51.0

Y62-22-PP-012

N1

Y62

629689.5

6751110.1

177.5

0

-90

50.0

Y62-22-PP-013

N1

Y62

629721.5

6751138.2

177.4

0

-90

51.0

Y62-22-PP-014

N1

Y62

629767.8

6751118.5

180.2

0

-90

42.0

Y62-22-PP-015

N1

Y62

629752.8

6751151.1

177.3

0

-90

45.0

Y62-22-PP-016

N1

Y62

629792.7

6751153.6

178.1

0

-90

52.0

Y62-22-PP-017

N1

Y62

629833.1

6751149.0

178.5

0

-90

66.0

Y62-22-PP-018

N1

Y62

629846.1

6751176.7

178.6

0

-90

54.0

Y62-22-PP-019

N1

Y62

629813.1

6751185.3

178.3

0

-90

57.0

Y62-22-PP-020

N1

Y62

629856.8

6751240.7

178.0

0

-90

66.0

Y62-22-PP-021

N1

Y62

629837.9

6751292.7

177.8

0

-90

63.0

Y62-22-PP-022

N1

Y62

629876.4

6751277.8

177.9

0

-90

60.0

Y62-22-PP-023

N1

Y62

629905.6

6751300.3

178.7

0

-90

45.0

Y62-22-PP-024

N1

Y62

629966.8

6751261.1

178.6

0

-90

42.0

Y62-22-PP-025

N1

Y62

629952.4

6751290.5

178.4

0

-90

51.0

Y62-22-PP-026

N1

Y62

629941.1

6751318.1

178.0

0

-90

42.0

Y62-22-PP-027

N1

Y62

630118.6

6751325.4

178.3

0

-90

48.0

Y62-22-PP-028*

N1

Y62

630097.1

6751346.6

178.1

0

-90

48.0

Y62-22-PP-029

N1

Y62

630084.2

6751376.2

178.4

0

-90

45.0

Y62-22-PP-030

N1

Y62

630114.7

6751418.1

178.2

0

-90

48.0

Y62-22-PP-031

N1

Y62

630139.2

6751356.5

178.4

0

-90

46.0

Y62-22-PP-032

N1

Y62

630124.3

6751389.1

178.3

0

-90

51.0

Y62-22-PP-033

N1

Y62

630161.3

6751398.4

178.4

0

-90

49.0

Z60-22-PP-001

N1

Z60

630867.9

6750458.6

181.9

0

-90

27.0

Z60-22-PP-002

N1

Z60

630860.8

6750423.9

182.0

0

-90

30.0

Z60-22-PP-003

N1

Z60

630840.1

6750405.0

182.0

0

-90

30.0

Z60-22-PP-004*

N1

Z60

630809.2

6750379.8

182.0

0

-90

39.0

Z60-22-PP-005

N1

Z60

630736.4

6750338.7

181.8

0

-90

30.0

Z60-22-PP-006

N1

Z60

630787.4

6750366.2

181.9

0

-90

27.0

Z60-22-PP-007

N1

Z60

630810.5

6750351.8

182.0

0

-90

27.0

Z60-22-PP-008

N1

Z60

630917.9

6750437.9

182.1

0

-90

27.0

Z60-22-PP-009

N1

Z60

630890.5

6750407.5

182.0

0

-90

30.0

Z60-22-PP-010

N1

Z60

630866.7

6750387.2

181.8

0

-90

30.0

Z60-22-PP-011

N1

Z60

630857.6

6750358.7

182.3

0

-90

30.0

Z60-22-PP-012

N1

Z60

630884.6

6750347.9

182.3

0

-90

30.0

Z60-22-PP-013

N1

Z60

630910.2

6750335.2

182.3

0

-90

30.0

Z60-22-PP-014

N1

Z60

630957.5

6750352.0

182.5

0

-90

30.0

* Within-deposit hydrogeological drill hole
** Off-deposit hydrogeological drill hole
Special note: X64 (in italics) is included under the X65 deposit in the 2022 PEA

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). The Mount Copper Mineral Resource Estimate was prepared and approved by Yann Camus, P.Eng., Geological Services of SGS Canada, an independent Qualified Person in accordance with National Instrument 43-101 standards. The Mineral Resource Estimate was reviewed internally by Guy Desharnais, Ph.D., P. Geo., non-independent Qualified Person in accordance with National Instrument 43-101 standards. 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 of 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 a 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/b61ba222-95d4-4fe7-8739-bb658bb446a8