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Osisko Metals Announces Additional Drill Results From Pine Point With Up to 13.00 Metres Grading 11.11% Zinc and 1.44% Lead

12.10.2023  |  GlobeNewswire

MONTREAL, Oct. 12, 2023 - Osisko Metals Inc. (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce additional assay results from its 2023 drilling program at the Pine Point Project, located in the Northwest Territories, Canada. The reported results are from the M67, L65, and M62 deposits. The M67 deposit consists of local prismatic development within a tabular apron of mineralization, while L65 and M62 are both tabular-style deposits in the Central Zone (C1). Drilling between M67 and L65 connected the tabular-style mineralization between these deposits over a strike length of 200 metres in an area that was not included in the 2022 PEA Mineral Resource Estimation (MRE).

Drilling was conducted as part of the Pine Point Mining Ltd. ("PPML") Joint Venture's larger 2023 definition drilling program designed to achieve an average drill spacing of approximately 30 metres within the currently modelled mineral resources reported in the 2022 PEA. This spacing is intended to upgrade the resources presently classified as Inferred to the Indicated category.

Drill Hole Assay Composite Highlights:

  • L65-23-PP-051: 11.00 metres, grading 3.64% Zn and 2.44% Pb (6.07% Zn+Pb)
  • M62-23-PP-015: 8.00 metres, grading 7.44% Zn and 0.01% Pb (7.46% Zn+Pb)
  • M67-23-PP-002: 10.00 metres, grading 8.78% Zn and 1.18% Pb (9.96% Zn+Pb)
  • M67-23-PP-004: 7.00 metres, grading 14.25% Zn and 3.37% Pb (17.62% Zn+Pb)
  • M67-23-PP-013: 13.00 metres, grading 11.11% Zn and 1.44% Pb (12.55% Zn+Pb)
  • M67-23-PP-015: 12.00 metres, grading 11.92% Zn and 4.91% Pb (16.83% Zn+Pb)
  • M67-23-PP-027: 8.00 metres, grading 9.16% Zn and 3.92% Pb (13.08% Zn+Pb)

All mineralization occurs near surface between 51.00 and 87.00 metres vertical depth from surface and occurs as tabular-style semi-massive to massive colloform sphalerite and galena associated with intensely altered hydrothermal dolomite and limestone.

Robert Wares, CEO and Chairman of the Board, commented: "These drill results have met expectations when compared to previous drilling and the continuity between the M67 and L65 deposits has been confirmed and is welcomed news. This new data will be incorporated into the mineral resource update planned for later this year. We also look forward to launching the feasibility study in the new year."

Table 1: Drill Hole Assay Composites.

Hole Name

Zone

Deposit

From To Drill
Width
True
Width
Zn Pb Zn+Pb
(m) (m) (m) (m) % % %
L65-23-PP-001 C1 L65 65.00 68.00 3.00 3.00 5.63 3.52 9.14
L65-23-PP-002 C1 L65 66.00 68.00 2.00 2.00 1.81 1.62 3.43
L65-23-PP-003A C1 L65 60.00 72.00 12.00 11.97 5.31 1.23 6.54
L65-23-PP-004 C1 L65 66.00 68.00 2.00 2.00 5.49 0.33 5.82
L65-23-PP-005 C1 L65 63.00 64.00 1.00 1.00 6.61 5.15 11.76
L65-23-PP-006 C1 L65 66.00 66.70 0.70 0.70 8.06 0.06 8.12
L65-23-PP-008 C1 L65 57.00 58.00 1.00 1.00 2.47 0.86 3.33
L65-23-PP-009 C1 L65 59.00 65.00 6.00 5.99 2.23 0.24 2.46
L65-23-PP-010 C1 L65 67.00 68.00 1.00 1.00 1.86 0.47 2.32
L65-23-PP-011 C1 L65 65.00 67.00 2.00 1.99 3.73 2.34 6.08
L65-23-PP-012 C1 L65 55.00 57.00 2.00 2.00 2.74 0.56 3.29
L65-23-PP-013 C1 L65 58.00 59.00 1.00 1.00 1.59 1.08 2.67
and C1 L65 63.00 65.00 2.00 2.00 17.39 3.19 20.58
L65-23-PP-014 C1 L65 55.00 56.00 1.00 1.00 2.58 2.31 4.89
L65-23-PP-015 C1 L65 51.00 52.00 1.00 1.00 8.06 0.01 8.07
L65-23-PP-016 C1 L65 62.00 65.00 3.00 2.99 5.65 1.87 7.52
and C1 L65 67.00 68.00 1.00 1.00 0.25 2.39 2.64
L65-23-PP-017 C1 L65 66.00 69.00 3.00 3.00 6.94 0.74 7.68
L65-23-PP-019 C1 L65 62.00 63.00 1.00 1.00 0.63 1.44 2.06
and C1 L65 65.00 67.00 2.00 2.00 2.25 3.23 5.48
L65-23-PP-020 C1 L65 64.00 68.00 4.00 3.99 3.38 2.07 5.45
L65-23-PP-021 C1 L65 64.00 67.00 3.00 3.00 2.50 2.16 4.65
and C1 L65 69.00 73.00 4.00 3.99 3.60 0.98 4.58
L65-23-PP-022 C1 L65 68.00 74.00 6.00 5.99 8.73 1.57 10.30
L65-23-PP-023 C1 L65 64.00 65.00 1.00 1.00 2.30 1.17 3.47
and C1 L65 68.00 69.00 1.00 1.00 3.02 2.41 5.43
L65-23-PP-024 C1 L65 59.00 65.00 6.00 5.99 4.36 1.24 5.61
L65-23-PP-025 C1 L65 59.00 62.00 3.00 2.99 6.00 15.25 21.25
L65-23-PP-027 C1 L65 58.00 63.00 5.00 4.99 1.77 0.78 2.56
L65-23-PP-029 C1 L65 58.80 59.50 0.70 0.70 3.56 7.74 11.30
L65-23-PP-030 C1 L65 63.00 64.00 1.00 1.00 6.58 0.16 6.74
L65-23-PP-032 C1 L65 52.00 54.00 2.00 2.00 3.94 0.05 3.99
and C1 L65 59.00 62.00 3.00 2.99 3.02 1.64 4.66
L65-23-PP-033 C1 L65 62.00 66.00 4.00 3.99 5.78 1.70 7.48
L65-23-PP-034 C1 L65 67.00 70.00 3.00 3.00 3.30 1.47 4.77
and C1 L65 72.00 73.00 1.00 1.00 8.26 3.77 12.03
L65-23-PP-035 C1 L65 63.00 67.00 4.00 3.99 1.87 2.10 3.97
L65-23-PP-036 C1 L65 59.00 60.00 1.00 1.00 4.77 0.08 4.85
and C1 L65 62.00 66.00 4.00 3.99 7.70 2.07 9.77
and C1 L65 70.00 72.00 2.00 2.00 5.85 1.52 7.37
L65-23-PP-037 C1 L65 61.00 63.00 2.00 1.99 11.31 2.51 13.82
and C1 L65 65.00 66.00 1.00 1.00 7.99 0.08 8.07
L65-23-PP-038 C1 L65 57.00 59.00 2.00 2.00 11.54 2.75 14.29
L65-23-PP-041 C1 L65 62.00 67.00 5.00 4.99 5.83 2.82 8.64
and C1 L65 72.00 73.00 1.00 1.00 2.26 0.07 2.33
L65-23-PP-042 C1 L65 76.00 80.00 4.00 3.99 5.90 1.04 6.94
and C1 L65 82.00 84.00 2.00 1.99 0.83 1.79 2.62
L65-23-PP-049 C1 L65 81.00 82.00 1.00 1.00 3.12 0.46 3.58
L65-23-PP-050 C1 L65 74.00 77.00 3.00 3.00 6.49 2.38 8.87
and C1 L65 81.00 87.00 6.00 5.99 9.52 1.46 10.99
L65-23-PP-051 C1 L65 67.00 78.00 11.00 10.96 3.64 2.44 6.07
and C1 L65 82.00 83.00 1.00 1.00 0.18 3.16 3.34
L65-23-PP-052 C1 L65 66.00 67.50 1.50 1.50 28.06 4.24 32.30
and C1 L65 70.00 71.00 1.00 1.00 3.77 0.09 3.86
L65-23-PP-053 C1 L65 68.00 71.00 3.00 3.00 4.26 0.86 5.11
L65-23-PP-056 C1 L65 68.00 69.00 1.00 1.00 3.53 0.76 4.29
L65-23-PP-057 C1 L65 64.50 68.00 3.50 3.50 3.75 3.45 7.20
and C1 L65 71.00 75.00 4.00 4.00 6.32 0.69 7.01
L65-23-PP-058 C1 L65 65.00 67.00 2.00 2.00 1.75 0.58 2.33
L65-23-PP-059 C1 L65 55.00 56.00 1.00 1.00 2.38 1.50 3.88
L65-23-PP-060 C1 L65 56.00 57.00 1.00 1.00 1.40 0.63 2.02
L65-23-PP-062 C1 L65 52.00 56.00 4.00 4.00 10.10 7.00 17.10
L65-23-PP-063 C1 L65 67.00 68.00 1.00 1.00 6.36 1.79 8.15
and C1 L65 70.00 72.00 2.00 2.00 2.85 2.91 5.76
M62-23-PP-001 C1 M62 63.00 65.00 2.00 2.00 9.66 4.68 14.34
M62-23-PP-003 C1 M62 53.60 54.60 1.00 1.00 21.70 12.90 34.60
and C1 M62 57.00 58.00 1.00 1.00 3.61 0.13 3.74
M62-23-PP-004 C1 M62 53.00 54.00 1.00 1.00 10.65 26.13 36.78
M62-23-PP-006B C1 M62 56.00 58.00 2.00 2.00 2.55 0.71 3.26
and C1 M62 61.00 62.00 1.00 1.00 4.57 0.42 4.99
M62-23-PP-007B C1 M62 57.00 58.00 1.00 1.00 5.22 0.61 5.83
M62-23-PP-008B C1 M62 57.00 58.00 1.00 1.00 12.85 0.94 13.79
M62-23-PP-009 C1 M62 59.00 61.00 2.00 2.00 6.68 1.97 8.65
M62-23-PP-010 C1 M62 59.00 60.00 1.00 1.00 5.28 0.01 5.29
M62-23-PP-011 C1 M62 58.00 62.00 4.00 3.99 7.00 1.82 8.81
and C1 M62 65.00 67.00 2.00 2.00 4.35 0.30 4.65
M62-23-PP-012 C1 M62 59.50 65.00 5.50 5.50 9.52 2.89 12.40
M62-23-PP-013 C1 M62 65.00 72.00 7.00 6.99 4.23 0.06 4.29
M62-23-PP-014B C1 M62 75.00 77.00 2.00 2.00 6.29 0.75 7.04
M62-23-PP-015 C1 M62 60.00 67.00 7.00 6.99 5.76 0.62 6.38
and C1 M62 69.00 77.00 8.00 7.99 7.44 0.01 7.46
M62-23-PP-016 C1 M62 65.00 68.00 3.00 3.00 9.79 0.02 9.81
M62-23-PP-017 C1 M62 63.00 67.00 4.00 3.99 18.72 0.19 18.91
M62-23-PP-018 C1 M62 63.00 67.00 4.00 3.99 24.06 5.40 29.46
and C1 M62 81.00 84.00 3.00 3.00 8.99 1.17 10.17
M62-23-PP-020 C1 M62 60.00 63.00 3.00 3.00 5.95 0.45 6.40
M67-23-PP-001 C1 M67 53.00 57.50 4.50 4.50 3.42 0.01 3.42
and C1 M67 62.00 63.00 1.00 1.00 3.78 1.16 4.93
M67-23-PP-002 C1 M67 52.75 55.00 2.25 2.25 3.46 0.00 3.47
and C1 M67 61.00 71.00 10.00 9.98 8.78 1.18 9.96
M67-23-PP-003 C1 M67 64.00 67.00 3.00 2.99 3.11 1.68 4.79
and C1 M67 70.00 71.40 1.40 1.40 0.91 1.16 2.07
and C1 M67 73.00 74.00 1.00 1.00 4.03 0.15 4.18
M67-23-PP-004 C1 M67 61.00 68.00 7.00 6.98 14.25 3.37 17.62
M67-23-PP-005 C1 M67 63.00 64.00 1.00 1.00 7.19 1.83 9.02
and C1 M67 75.00 76.00 1.00 1.00 3.66 0.58 4.24
M67-23-PP-007 C1 M67 63.00 67.00 4.00 3.99 2.90 1.27 4.16
and C1 M67 70.80 72.00 1.20 1.20 15.25 2.52 17.77
M67-23-PP-008 C1 M67 74.00 75.00 1.00 1.00 1.91 0.22 2.13
M67-23-PP-011 C1 M67 69.00 71.00 2.00 2.00 6.18 0.33 6.51
M67-23-PP-013 C1 M67 60.00 73.00 13.00 12.96 11.11 1.44 12.55
M67-23-PP-014 C1 M67 69.00 72.00 3.00 3.00 6.76 4.00 10.76
M67-23-PP-015 C1 M67 63.00 75.00 12.00 11.97 11.92 4.91 16.83
M67-23-PP-017 C1 M67 70.00 73.00 3.00 3.00 4.18 5.66 9.84
M67-23-PP-018 C1 M67 72.00 74.00 2.00 2.00 8.21 0.30 8.51
M67-23-PP-019 C1 M67 72.00 76.00 4.00 4.00 1.40 1.22 2.62
M67-23-PP-020 C1 M67 71.00 74.00 3.00 2.99 4.18 1.00 5.18
M67-23-PP-021 C1 M67 69.00 73.00 4.00 4.00 7.53 3.53 11.06
and C1 M67 78.00 82.00 4.00 4.00 8.07 15.55 23.62
M67-23-PP-022 C1 M67 69.00 74.35 5.35 5.33 4.83 0.89 5.72
and C1 M67 76.00 77.00 1.00 1.00 13.95 10.70 24.65
M67-23-PP-023 C1 M67 67.00 73.00 6.00 5.98 8.31 0.56 8.87
M67-23-PP-024 C1 M67 65.30 70.00 4.70 4.70 20.53 1.25 21.78
M67-23-PP-025 C1 M67 71.00 72.00 1.00 1.00 0.15 1.96 2.10
M67-23-PP-026 C1 M67 75.00 76.00 1.00 1.00 1.95 0.58 2.53
M67-23-PP-027 C1 M67 55.00 58.00 3.00 2.99 2.81 0.03 2.84
and C1 M67 61.00 69.00 8.00 7.96 9.16 3.92 13.08
M67-23-PP-028 C1 M67 59.00 60.00 1.00 1.00 1.25 0.77 2.02
and C1 M67 63.00 66.00 3.00 3.00 4.28 0.21 4.49
M67-23-PP-029 C1 M67 63.00 66.00 3.00 2.99 2.10 1.32 3.41
M67-23-PP-030 C1 M67 61.00 66.00 5.00 4.99 5.20 4.48 9.68

Drill holes not reported in this table with a collar location tabulated in Table 2 contained no significant assay results.

Qualified Person

Mr. Robin Adair is the Qualified Person and the Senior Technical Advisor for Pine Point Mining Ltd.. He is responsible for the technical data reported in this news release and 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)
L65-23-PP-001 C1 L65 628205.5 6743688.9 214.7 0 -90 78
L65-23-PP-002 C1 L65 628247.0 6743666.4 214.9 0 -90 90
L65-23-PP-003 C1 L65 628235.7 6743691.6 214.8 0 -90 18
L65-23-PP-003A C1 L65 628235.7 6743691.6 214.8 0 -90 75
L65-23-PP-004 C1 L65 628226.7 6743709.4 214.7 0 -90 69
L65-23-PP-005 C1 L65 628197.6 6743719.3 214.4 0 -90 75
L65-23-PP-006 C1 L65 628157.9 6743717.7 214.2 0 -90 90
L65-23-PP-007 C1 L65 628146.3 6743742.1 214.1 0 -90 90
L65-23-PP-008 C1 L65 628165.1 6743772.4 213.9 0 -90 90
L65-23-PP-009 C1 L65 628175.3 6743750.2 214.1 0 -90 90
L65-23-PP-010 C1 L65 628184.3 6743730.9 214.3 0 -90 90
L65-23-PP-011 C1 L65 628214.6 6743738.0 214.4 0 -90 90
L65-23-PP-012 C1 L65 628203.5 6743762.0 214.2 0 -90 78
L65-23-PP-013 C1 L65 628193.0 6743785.6 214.1 0 -90 90
L65-23-PP-014 C1 L65 628224.5 6743784.5 214.3 0 -90 90
L65-23-PP-015 C1 L65 628238.0 6743759.5 214.5 0 -90 66
L65-23-PP-016 C1 L65 628248.4 6743737.6 214.8 0 -90 90
L65-23-PP-017 C1 L65 628256.9 6743718.6 214.9 0 -90 72
L65-23-PP-018 C1 L65 628276.0 6743677.3 215.0 0 -90 90
L65-23-PP-019 C1 L65 628304.6 6743683.5 215.1 0 -90 92
L65-23-PP-020 C1 L65 628332.0 6743697.8 215.2 0 -90 92
L65-23-PP-021 C1 L65 628294.8 6743707.6 215.0 0 -90 92
L65-23-PP-022 C1 L65 628324.0 6743718.7 215.3 0 -90 92
L65-23-PP-023 C1 L65 628284.9 6743730.5 215.0 0 -90 92
L65-23-PP-024 C1 L65 628274.1 6743752.0 214.8 0 -90 92
L65-23-PP-025 C1 L65 628264.7 6743772.6 214.6 0 -90 95
L65-23-PP-026 C1 L65 628255.6 6743793.2 214.5 0 -90 92
L65-23-PP-027 C1 L65 628279.3 6743811.6 214.9 0 -90 90
L65-23-PP-028 C1 L65 628307.4 6743822.1 215.1 0 -90 92
L65-23-PP-029 C1 L65 628290.7 6743785.8 214.8 0 -90 92
L65-23-PP-030 C1 L65 628302.6 6743764.2 214.6 0 -90 71
L65-23-PP-031 C1 L65 628319.9 6743795.5 215.2 0 -90 90
L65-23-PP-032 C1 L65 628329.7 6743774.9 215.0 0 -90 92
L65-23-PP-033 C1 L65 628313.4 6743738.4 215.1 0 -90 92
L65-23-PP-034 C1 L65 628350.1 6743731.1 215.3 0 -90 91
L65-23-PP-035 C1 L65 628339.6 6743752.3 215.0 0 -90 76
L65-23-PP-036 C1 L65 628358.5 6743784.1 215.3 0 -90 75
L65-23-PP-037 C1 L65 628385.0 6743781.7 215.6 0 -90 73
L65-23-PP-038 C1 L65 628352.1 6743813.4 215.4 0 -90 69
L65-23-PP-039 C1 L65 628335.3 6743833.5 215.3 0 -90 41
L65-23-PP-039B C1 L65 628335.3 6743833.5 215.3 0 -90 71
L65-23-PP-040 C1 L65 628356.6 6743847.2 215.2 0 -90 74
L65-23-PP-041 C1 L65 628398.8 6743841.4 215.8 0 -90 76
L65-23-PP-042 C1 L65 628390.8 6743861.0 215.5 0 -90 87
L65-23-PP-043 C1 L65 628368.8 6743867.5 215.1 0 -90 82
L65-23-PP-044 C1 L65 628390.8 6743877.7 215.5 0 -90 91
L65-23-PP-045 C1 L65 628338.0 6743898.5 214.4 0 -90 82
L65-23-PP-046 C1 L65 628363.5 6743911.5 214.4 0 -90 85
L65-23-PP-047 C1 L65 628374.5 6743935.3 214.4 0 -90 82
L65-23-PP-048 C1 L65 628390.8 6743917.8 214.8 0 -90 88
L65-23-PP-049 C1 L65 628412.7 6743935.2 214.8 0 -90 85
L65-23-PP-050 C1 L65 628406.3 6743895.4 215.5 0 -90 97
L65-23-PP-051 C1 L65 628445.5 6743869.9 216.3 0 -90 91
L65-23-PP-052 C1 L65 628527.1 6743955.2 216.2 0 -90 79
L65-23-PP-053 C1 L65 628519.5 6743982.6 215.3 0 -90 79
L65-23-PP-054 C1 L65 628546.5 6744003.0 215.2 0 -90 79
L65-23-PP-055 C1 L65 628567.3 6743990.6 215.8 0 -90 64
L65-23-PP-056 C1 L65 628594.6 6743973.7 217.1 0 -90 79
L65-23-PP-057 C1 L65 628820.4 6743999.3 217.4 0 -90 83
L65-23-PP-058 C1 L65 628846.3 6744003.4 217.1 0 -90 77
L65-23-PP-059 C1 L65 628681.7 6744175.6 213.6 0 -90 65
L65-23-PP-060 C1 L65 628710.2 6744206.1 213.5 0 -90 74
L65-23-PP-061 C1 L65 628695.1 6744229.2 213.4 0 -90 71.1
L65-23-PP-062 C1 L65 628665.0 6744219.1 213.4 0 -90 68
L65-23-PP-063 C1 L65 628229.3 6743658.0 214.6 0 -90 78
M62-23-PP-001 C1 M62 630064.7 6744825.8 216.2 0 -90 88
M62-23-PP-002 C1 M62 630066.4 6744800.9 216.6 0 -90 58
M62-23-PP-003 C1 M62 630002.5 6744774.6 216.1 0 -90 67
M62-23-PP-004 C1 M62 629975.6 6744791.7 216.1 0 -90 61
M62-23-PP-005* C1 M62 629867.6 6744775.4 215.5 0 -90 57
M62-23-PP-006 C1 M62 629844.0 6744758.1 215.7 0 -90 23
M62-23-PP-006B C1 M62 629844.0 6744758.1 215.7 0 -90 63
M62-23-PP-007 C1 M62 629815.6 6744759.7 215.7 0 -90 54
M62-23-PP-007B C1 M62 629815.6 6744759.7 215.7 0 -90 65
M62-23-PP-008 C1 M62 630126.2 6744498.4 219.7 0 -90 23
M62-23-PP-008B C1 M62 630126.2 6744498.4 219.7 0 -90 62
M62-23-PP-009 C1 M62 630093.1 6744466.3 219.6 0 -90 67
M62-23-PP-010 C1 M62 630082.9 6744493.1 219.7 0 -90 73
M62-23-PP-011 C1 M62 630063.6 6744478.9 219.7 0 -90 69
M62-23-PP-012 C1 M62 630051.4 6744439.2 219.4 0 -90 71
M62-23-PP-013 C1 M62 629811.4 6744581.8 219.1 0 -90 84
M62-23-PP-014 C1 M62 629761.1 6744584.9 218.4 0 -90 36
M62-23-PP-014B C1 M62 629761.1 6744584.9 218.4 0 -90 87
M62-23-PP-015 C1 M62 629791.9 6744546.9 220.0 0 -90 87
M62-23-PP-016 C1 M62 629778.3 6744519.1 221.8 0 -90 90
M62-23-PP-017 C1 M62 629785.4 6744486.7 224.0 0 -90 90
M62-23-PP-018 C1 M62 629748.2 6744482.9 223.3 0 -90 90
M62-23-PP-019 C1 M62 629718.6 6744482.4 222.2 0 -90 90
M62-23-PP-020 C1 M62 629749.6 6744452.2 223.2 0 -90 90
M67-23-PP-001* C1 M67 627896.3 6743459.1 214.2 0 -90 72
M67-23-PP-002 C1 M67 627888.2 6743480.0 214.1 0 -90 75
M67-23-PP-003 C1 M67 627961.0 6743512.7 214.0 0 -90 75
M67-23-PP-004 C1 M67 627987.7 6743495.5 214.2 0 -90 75
M67-23-PP-005 C1 M67 628004.1 6743513.8 214.2 0 -90 78
M67-23-PP-006 C1 M67 628012.4 6743480.1 214.5 0 -90 72
M67-23-PP-007 C1 M67 628025.1 6743503.2 214.3 0 -90 75
M67-23-PP-008 C1 M67 628042.1 6743477.5 214.4 0 -90 75
M67-23-PP-009 C1 M67 628057.3 6743511.8 214.2 0 -90 81
M67-23-PP-010 C1 M67 628067.7 6743490.2 214.3 0 -90 72
M67-23-PP-011 C1 M67 628080.4 6743517.9 214.3 0 -90 78
M67-23-PP-012 C1 M67 628108.4 6743517.0 214.5 0 -90 75
M67-23-PP-013 C1 M67 628124.7 6743539.0 214.4 0 -90 81
M67-23-PP-014 C1 M67 628130.9 6743564.4 214.3 0 -90 81
M67-23-PP-015 C1 M67 628038.9 6743570.0 214.2 0 -90 81
M67-23-PP-016 C1 M67 628029.5 6743587.9 214.2 0 -90 81
M67-23-PP-017 C1 M67 628039.1 6743621.9 214.1 0 -90 81
M67-23-PP-018 C1 M67 628064.8 6743667.5 214.1 0 -90 81
M67-23-PP-019 C1 M67 628103.3 6743662.0 214.0 0 -90 81
M67-23-PP-020 C1 M67 628100.7 6743635.3 214.1 0 -90 84
M67-23-PP-021 C1 M67 628140.0 6743621.7 214.3 0 -90 84
M67-23-PP-022 C1 M67 628137.8 6743643.1 214.3 0 -90 84
M67-23-PP-023 C1 M67 628125.1 6743683.0 214.1 0 -90 75
M67-23-PP-024 C1 M67 628156.6 6743686.5 214.3 0 -90 78
M67-23-PP-025 C1 M67 628174.8 6743675.2 214.5 0 -90 78
M67-23-PP-026 C1 M67 628195.2 6743674.4 214.6 0 -90 78
M67-23-PP-027 C1 M67 627958.2 6743481.2 214.1 0 -90 69
M67-23-PP-028 C1 M67 627930.8 6743513.2 214.0 0 -90 69
M67-23-PP-029 C1 M67 627908.7 6743497.5 214.0 0 -90 66
M67-23-PP-030 C1 M67 627923.7 6743471.2 214.2 0 -90 69

*Hydrogeological drill holes

About Osisko Metals

Osisko Metals Inc. is a Canadian exploration and development company creating value in the critical metals space, more specifically copper and zinc. The Company is a joint venture partner with Appian Capital Advisory LLP for the advancement of one of Canada's premier past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories, for which the 2022 PEA (as defined herein) has indicated an after-tax NPV of C$602 million and an IRR of 25%, based on long-term zinc price of US$1.37/lb and the current mineral resource estimates that are amenable to open pit and shallow underground mining. The current mineral resource estimate in the 2022 PEA consists 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 August 26, 2022 (with an effective date of July 30, 2022), which was prepared for Osisko Metals and PPML by representatives of BBA Engineering Inc., HydroRessources Inc., PLR Resources Inc. and WSP Canada Inc. (the "2022 PEA"). Please refer to the full text of the 2022 PEA, a copy of which is available on SEDAR (www.sedar.com) under the Osisko Metals' issuer profile, for the assumptions, methodologies, qualifications and limitations described therein. The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, with paved highway access, an electrical substation, as well as 100 kilometres of viable haulage roads.

In addition, the Company also acquired in July 2023, from Glencore Canada Corporation, a 100% interest in the past-producing Gaspé Copper Mine, located near Murdochville in the Gaspé peninsula of Québec. The Company is currently focused on resource evaluation of the Mount Copper Expansion Project that hosts an Inferred Mineral Resource (in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects) of 456Mt grading 0.31% Cu (see April 28, 2022 news release of Osisko Metals entitled "Osisko Metals Announces Maiden Resource at Gaspé Copper - Inferred Resource of 456Mt Grading 0.31% Copper"). Gaspé Copper hosts the largest undeveloped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

About Appian

Appian Capital Advisory LLP is a London-headquartered investment advisor to long-term value-focused private capital funds that invest solely in mining and mining-related companies.

Appian is a leading investment advisor in the metals and mining industry, with global experience across South America, North America, Europe, Australia and Africa and a successful track record of supporting companies to achieve their development targets, with a global operating portfolio overseeing nearly 6,300 employees. Appian has a global team of 65 experienced professionals with presences in London, Toronto, Vancouver, Montreal, New York, Lima, Belo Horizonte, Perth, Mexico City and Dubai. The Appian team, through its private capital funds, has a long history of successfully bringing mines through development and into production, having completed 9 mine builds in the last 6 years.

For more information, please visit www.appiancapitaladvisory.com, or find us on LinkedIn, Instagram and Twitter.

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

Robert Wares, Chairman & CEO of Osisko Metals Inc.

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 closing of the Gaspe Copper Project Definitive Agreement or the Pine Point Project. For Pine Point, statements including, among other things, the results of the 2022 PEA and the IRR, NPV and estimated costs, production, production rate and mine life; the expectation that the Project will be a robust operation and profitable at a variety of prices and assumptions; the ability to identify additional resources and reserves (if any) and exploit such resources and reserves on an economic basis; 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; the Pine Point Project having the potential for mineral resource expansion and new discoveries; the timing and ability for the Pine Point Project to reach construction decision (if at all); the estimated costs to take the Pine Point Project to construction decision (if at all); the ability of the Company to realize the anticipated benefits of the Transaction; and the impact to the Company of the disposition of ownership interest and control in the Pine Point Project, which is a material property of the Company. There can be no certainty on the timing, costs and ability for the joint venture parties to take the Pine Point Project to reach a construction decision or pursue planned exploration and development as presently contemplated.

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 and timing for the parties to fund cash calls to advance the development of the Pine Point Project and pursue planned exploration and development; 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; the economic viability of the Pine Point Project; 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 disclosure record on SEDAR (www.sedar.com) under Osisko Metals' issuer profile. 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 Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.



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Mineninfo
Osisko Metals Inc.
Bergbau
A2DTZC
CA6882741094

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