Osisko Development to Complete Second Deferred Payment Installment IN Connection with the Tintic Acquisition

NYSE | TSXV: ODV NEWS RELEASE

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OSISKO DEVELOPMENT TO COMPLETE SECOND DEFERRED PAYMENT

INSTALLMENT IN CONNECTION WITH THE TINTIC ACQUISITION

Montreal, Québec, June 3, 2024 – Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko

Development" or the "Company") announces that, in accordance with the terms of the Company's

previously-completed acquisition of a 100% ownership interest in the Tintic Project , located in Utah ,

U.S.A., in May 2022 (the "Tintic Acquisition"), the Company intends to satisfy the second of five

deferred payments (the " Second Deferred Payment ") to the sellers of the Tintic Project (the

"Sellers") in common shares of the Company ("Common Shares").

The Second Deferred Payment of US$2,500,000 (or C$3,418,500 based on a USD/CAD exchange rate

of 1.3674) is expected to be paid entirely in Common Shares at a deemed price of C$2.7829 per

Common Share (based on the 20-day VWAP as of May 23, 2024), resulting in the issuance of 1,228,394

Common Shares to the Sellers in full satisfaction of the Second Deferred Payment.

The issuance of the Common Shares in satisfaction of the Second Deferred Payment remains subject to

the approval of the TSX Venture Exchange.

For additional details regarding the Tintic Acquisition, please refer to the Company's news releases dated

January 25, 2022 (entitled "Osisko Development Announces Proposed Acquisition of Tintic Consolidated

Metals") and May 30, 2022 (entitled "Osisko Development Completes Acquisition of Tintic Consolidated

Metals, Finalizes Binding Stream Terms and Satisfies Escrow Release Condition For Brokered

Subscription Receipt Financing").

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,

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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 to the ability and timing of the Company completion of the Second Deferred Payment and t he

TSX Venture Exchange's final approval of the issuance of the Common Shares in satisfaction of the Second Deferred Payment.

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 Co mpany

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 place 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 disappr oved the information contained herein.