Osisko Development Reports Lifting of Fire Evacuation Order Near Cariboo GOLD Project; All Project Activities to Resume

NYSE | TSXV: ODV NEWS RELEASE

Page 1 of 2

OSISKO DEVELOPMENT REPORTS LIFTING OF FIRE EVACUATION ORDER NEAR

CARIBOO GOLD PROJECT; ALL PROJECT ACTIVITIES TO RESUME

Montreal, Québec, July 26, 2024 – Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko

Development" or the "Company") is pleased to announce that the previously issued wildfire

evacuation order announced on July 22, 2024, has been lifted by the BC Wildfire Service. Normal course

operations and site activities at the Company's 100%-owned Cariboo Gold Project ("Cariboo" or the

"Project") will resume immediately following the return of non-essential employees to site. The mine

site infrastructure was un affected by the wildfires and all access roads to the Project are accessible.

Osisko Development would like to thank all emergency services personnel who are on the front lines

fighting the forest fires impacting the BC province and more broadly in Canada, and extend our thoughts

to the communities that have been and continue to be affected by these fires. The Company will continue

to closely monitor the wildfire situation to ensure safety and welfare of its employees.

ABOUT OSISKO DEVELOPMENT CORP.

Osisko Development Corp. is a North American gold development company focused on past -producing

mining camps located in mining friendly jurisdictions with district scale potential. The Company 's

objective is to become an intermediate gold producer by advancing its 100% -owned Cariboo Gold

Project, located in central B .C., Canada, the Tintic Project in the historic East Tintic mining district in

Utah, U.S.A., and the San Antonio Gold Project in Sonora, Mexico. In addition to considerable brownfield

exploration potential of these prop erties, that benefit from significant historical mining data, existing

infrastructure and access to skilled labour, the Company 's project pipeline is complemented by other

prospective exploration properties. The Company 's strategy is to develop attractive, long -life, socially

and environmentally sustainable mining assets, while minimizing exposure to development risk and

growing mineral resources.

For further information, visit our website at www.osiskodev.com or contact:

Sean Roosen Philip Rabenok

Chairman and CEO Director, Investor Relations

Email: [email protected] Email: [email protected]

Tel: +1 (514) 940-0685 Tel: +1 (437) 423-3644

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements contained in this news release may be deemed "forward -looking statements" within the meaning of the United

States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian

securities legislation (together, "forward -looking statements"). These forward -looking statements, by their nature, require Osisko

Development to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause

actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements

are not guarantees of performance. Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend",

"estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the condit ional,

are intended to identify forward -looking statements. Information contained in forward -looking statements is based upon certain

material assumptions that were applied in drawing a conclusion or making a forecast or projection, including the assumptions,

qualifications and limitations relating the potential impact of wildfires on our business, operations or assets; the impact of the

wildfires and regulatory responses thereto on the business of the Company, if any; the ability of the Company to safeguard si te

infrastructure; and future drilling and advancement at the Property; the ability of the Company to complete its e xploration and

development objectives for its projects in 2024 in the timing contemplated and within expected costs (if at all); the ongoing

advancement of the deposits on the Company's properties; as well as other considerations that are believed to be ap propriate in

the circumstances, and any other information herein that is not a historical fact may be "forward looking information". Mater ial

assumptions also include, management's understanding of wildfires and site infrastructure, current conditions and expected future

developments, results of further exploration work to define or expand any mineral resources, as well as other considerations that

are believed to be appropriate in the circumstances. Osisko Development considers its assumptions to be reason able based on

information currently available, but cautions the reader that their assumptions regarding future events, many of which are be yond

the control of Osisko Development, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect

Page 2 of 2

Osisko Development and its business. Such risks and uncertainties include, among others, wildfires and other natural disasters being

sometimes unpredictable; the ability to continue current operations and exploration; risks relating to exploration, develop ment and

mining activities; fluctuations in the currency markets; environmental risks; and community, non -governmental and governmental

actions and the impact of stakeholder actions. Readers are urged to consult the disclosure provided under the heading "Risk Factors"

in the Company's annual information form for the year ended December 31, 2023 as well as the financial statements and MD&A fo r

the year ended December 31, 2023, which have been filed on SEDAR+ (www.sedarplus.ca) under Osisko Development's issu er

profile and on the SEC's EDGAR website (www.sec.gov), for further information regarding the risks and other factors facing th e

Company, its business and operations. Although the Company's believes the expectations conveyed by the forward -looking

statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results,

levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a

result of new information, future events or results or otherwise, except as required by law. Forward -looking statements are not

guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual

results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not pl ace

undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSX Venture 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.