Update from Robert Wares CEO Osisko Metals Inc. OM.V Copper/Zinc Developer in Canada

Due Diligence by Doc Jones, Resource Investor, Hunting for Exceptional returns.

OM.V

4 Aug 2022, 08:19

Osisko Metals Reports First Infill Drill Results at Gaspé Copper

Highlights include:

• Of the sixteen drill holes reported below, fourteen extended disseminated/stockwork copper-silver mineralization outside the current pit-constrained resource model, including up to 170 metres in drill hole 30-0991 below the currently designed pit floor. All fourteen holes ended in mineralization above or within the C Zone skarn horizon.
• Drill hole 30-0977, located 142.0 metres south of the modelled pit, intersected 375.3 metres grading 0.20% Cu and 1.31g/t Ag. This hole stopped in mineralization and can be extended if warranted.
• Drill hole 30-0985 intersected 528.0 metres grading 0.26% Cu and 1.72g/t Ag, including 46.5 metres grading 1.1% Cu and 6.19g/t Ag in skarn-style disseminated mineralization in the C Zone. This hole extends 122.0 m below the currently designed pit floor and stopped in mineralization.

Robert Wares, Chairman & CEO, commented: “We are very pleased with the initial results of our 30,000-metre drill program at Gaspé Copper. Most of the reported results are from holes collared on top of Mount Copper, where historical drilling was relatively scarce. We can now confirm that this area is mineralized with limited oxide copper and that the potential for further expansion of the deposit appears to be significant as most of these holes ended in mineralization. With four drill rigs on site currently, I am excited to build upon what is already the largest undeveloped copper resource in Eastern North America.”

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% 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, paved highway access, and 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.

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