Osisko Development Announces Resumption of Planned Site Activities at the Cariboo GOLD Project
ODV NYSE TSXV News Release
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OSISKO DEVELOPMENT ANNOUNCES RESUMPTION OF PLANNED SITE ACTIVITIES
AT THE CARIBOO GOLD PROJECT
Montreal, Québec , March 2, 2026 – Osisko Development Corp. (NYSE: ODV, TSXV: ODV)
("Osisko Development" or the "Company") announces the resumption of planned site activities at its
Cariboo Gold Project (the "Project") in British Columbia, following a temporary suspension related
to an isolated tragic incident that occurred at surface on January 2 2, 202 6. A phased gradual
reopening plan of surface and underground activities was successfully implemented over the last
several weeks , while ensuring the health and safety of all employees and contractors, in
coordination with and approval from the relevant regulatory authorities.
"I want to thank the entire site team for their professionalism and unwavering commitment throughout
this difficult period. As we move forward, the health, safety and wellbeing of everyone who works at
Osisko Development remains our highest priority," said Sean Roosen, Chairman and CEO.
There are currently over 250 personnel onsite , reflecting normal operating levels for the current
phase of work , supporting the advancement of pre -construction, early works and exploration
drilling activities, including:
• Water treatment plant: Upgrades to the Bonanza Ledge water treatment plant are in the final
stages of commissioning and the facility is anticipated to be fully operational in the coming
weeks.
• Underground development: To date, app roximately 2.1 kilometres ("km") of underground
development has been completed from the existing Cow Portal into the Lowhee Zone, and along
the main access ramp, through the Lowhee fault, towards the Cow Mountain Zone. Development
progress has been below plan while encountering challenging ground conditions in and around
the Lowhee fault , requiring enhanced ground support . Development rates are expected to
improve as the ramp advances beyond this zone.
• Lowhee infill program: Infill drilling has resumed and is underway , with approximately 1.6
km remaining in the final drill fan under the ongoing 13-km underground program on the 1260
level. Additional exploration and infill drilling is also ongoing on the 1290 level. A total of three
drill rigs are currently operating underground.
• Surface exploration: A total of six drill rigs are currently operating on two exploration
programs. Three drill rigs are targeting exploration below the current extent of the Cariboo Gold
deposit down to a depth of 1,000 meters. Approximately 5,000 meters of drilling have been
completed to date, with assays pending. A second surface exploration program on the adjacent
Proserpine regional target has also commenced with three drill rigs, and approximately 500
meters completed to date.
• Surface infrastructure: Construction of the waste rock storage facility , the sediment control
pond, early works in the mine site complex area and other critical infrastructure continues.
• Camp upgrade: The upgrade and expansion of the site camp to 266 rooms is complete and is
expected to provide accommodation capacity aligned with peak construction manpower
requirements for the Project.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed , verified and
approved by Scott Smith , P. Geo., Vice President, Exploration of Osisko Development, a "qualified
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person" within the meaning of National Instrument 43 -101 – Standards of Disclosure for Mineral
Projects.
Figure 1: Waste rock storage facility excavation continues.
Figure 2: Sediment control pond spillway concrete work & dam raise.
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Figure 3: Water treatment plant commissioning underway.
Figure 4: Project site camp expansion complete.
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ABOUT OSISKO DEVELOPMENT CORP.
Osisko Development Corp. is a continental North American gold development company focused on past
producing mining camps with district scale potential. The Company's objective is to become an
intermediate gold producer through the development of its flagship , fully permitted, 100%-owned
Cariboo Gold Project, located in central British Columbia, Canada. Its project pipeline is complemented
by the Tintic Project located in the historic East Tintic mining district in Utah, U.S.A ., a brownfield
property with significant exploration potential, extensive historical mining data, and access to
established infrastructure. Osisko Development is focused on developing long -life mining assets in
mining-friendly jurisdictions while maintaining a disciplined approach to capital allocation, development
risk management, and mineral inventory growth.
For further information, contact:
Sean Roosen Philip Rabenok
Chairman and CEO Vice President, Investor Relations
Email: [email protected] Email: [email protected]
Tel: +1 (514) 940-0685 Tel: +1 (437) 423-3644
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-
looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collective ly,
"forward-looking statements"). Such forward -looking statements are identified with words such as "may", "will", "would", "could",
"anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" , "objective",
"strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the
conditional. 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, limitations or statements
pertaining to: the full resumption and continuation of planned site activities at the Cariboo Gold Project; the an ticipated timing for
the Bonanza Ledge water treatment plant to become fully operational; expectations regarding the improvement of underground
development rates as the ramp advances beyond the Lowhee fault zone; the completion of the remaining infill dril ling program on
the 1260 level and ongoing exploration and infill drilling activities; the continuation of surface exploration drilling activ ities and
receipt of assay results; the continuation of surface infrastructure construction, including the waste ro ck storage facility, sediment
control pond, mine site complex early works and other critical infrastructure; expectations that the expanded camp will provi de
accommodation capacity aligned with peak construction manpower requirements; the ability to develo p the Cariboo Gold Project;
and the timing and ability to complete contemplated work. Such forward -looking statements are based on a number of risks,
uncertainties and assumptions which may cause actual results or other expectations to differ materially fr om those anticipated and
which may prove to be incorrect. These assumptions include, but are not limited to: the absence of further work stoppages or
suspensions at the Project; favourable regulatory conditions and approvals; the ability to maintain adequate personnel and contractor
levels; the absence of unforeseen ground conditions or other geological challenges; the availability of necessary equipment, supplies
and infrastructure; and general economic and market conditions. Actual results could differ ma terially due to a number of factors,
including, without limitation: risks related to the exploration, development and operation of the Cariboo Gold Project; health, safety
and security incidents; unforeseen ground conditions, including in and around the Lo whee fault zone; delays in commissioning
infrastructure, including the water treatment plant; regulatory delays or changes in regulatory framework and applicable laws ;
labour shortages or disputes; general eco nomic and market conditions and business condit ions in the mining industry; fluctuations
in commodity and currency exchange rates; changes in regulatory framework and applicable laws, as well as those risks and factors
disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis
as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). Althou gh the Company 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 ma terially 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 disapproved the information contained herein.