Final Court Approval Obtained FOR Osisko Metals' Acquisition of Pine Point
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FINAL COURT APPROVAL OBTAINED FOR
OSISKO METALS' ACQUISITION OF PINE POINT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Montréal, Québec and Toronto, Ontario ( February 21, 2018) – Osisko Metals Incorporated ("Osisko
Metals") (TSX -V:OM) and Pine Point Mining Limited ( "Pine Point ") (TSX -V:ZINC) are pleased to
announce that Pine Point has received final approval from the Ontario Superior Court of Justice
(Commercial List) for the proposed arrangement pursuant to which, among other things, (i) Osisko Metals
will acquire all of the issued and outstanding common shares of Pine Point, and (ii) a newly formed spinco,
Generation Mining Limited, has been created to hold all of the assets and liabilities of Pine Point, with the
exception of the Pine Point project located in the Northwest Territories (the "Pine Point Project"), all of
which is to be completed by way of a statutory plan of arrangement under the Business Corporations Act
(Ontario) (the "Arrangement"). The Arrangement will result in Osisko Metals acquiring the Pine Point
Project in furtherance of Osisko Metals' stated strategy of consolidating and developing base metal assets
at the mining district scale.
About Osisko Metals Incorporated
Osisko Metals is a Canadian exploration and development company creating value in the base metal
space with an emphasis on zinc mineral assets. To date, Osisko Metals has consolidated over 63,000
hectares in the historical world-class Bathurst Mining Camp, located in northern New Brunswick, in which it
is focused on upgrading and expanding 6 historical deposits. Osisko Metals is also aiming to complete the
acquisition of Pine Point Mining, which will give it a 100% interest in the historical Pine Point mining camp
located in the Northwest Territories of Canada . Osisko Metals' strategy in both mining camps is to develop
a multi-deposit asset base that could feed a central concentrator. In Québec, Osisko Metals owns 42,000
hectares that cover 12 gra ss-root zinc targets that will be selectively advanced through exploration. In
parallel, Osisko Metals is monitoring several base metal -oriented peers for projects and acquisition
opportunities. Osisko Gold Royalties Ltd (TSX/NYSE: OR) and Osisko Mining In c. (TSX: OSK) are
significant shareholders of Osisko Metals.
For further information about Osisko Metals, visit www.osiskometals.com or contact:
Jeff Hussey
President & CEO
Osisko Metals Incorporated
(514) 861-4441
Email: [email protected]
www.osiskometals.com
Christina Lalli
Director, Investor Relations
Osisko Metals Incorporated
(514) 861-4441
Email: [email protected]
www.osiskometals.com
About Pine Point Mining Limited
Pine Point acquired a 100% interest in the Pine Point lead -zinc project in December 2016. Since that time,
a positive Preliminary Economic Assessment (PEA) on the project showing a robust mining operation
which, over a 13 -year mine life, would have an after -tax net present value of C$210.5 million and internal
rate of return of 34.5%, with a payback of 1.8 years. The study assumed a zinc price of US$1.10 per pound
and a lead price of US$1.00 per pound, and used an exchange rate C$:US$ of 0.75. The Pine Point
Technical Report is based on a mineral resource estimate for the Pine Point Project, which was prepared
in accordance with NI 43-101 with an effective date of April 18, 2017.
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For further information about Pine Point, visit www.pinepointmining.com or contact:
Jamie Levy
President & CEO
Pine Point Mining Incorporated
(416) 567-2440
Email: [email protected]
www.pinepointmining.com
Steve Hosein
Renmark Financial Communications Inc.
(416) 644-2020 or (514) 939-3989
Email: [email protected]
www.renmarkfinancial.com
Cautionary Statement Regarding 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.
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. Forward -looking information in this news release includes, but is not
limited to: the timing and ability of Osisko Metals and Pine Point to complete the Arrangement (if at all); the
ability of Osisko Metals and Pine Point to satisfy or waive all conditions precedent to completing the
Arrangement (if at all); and the anticipated benefits o f the Arrangement to Osisko Metals, Pine Point and
their respective shareholders.
These forward-looking statements are based on reasonable assumptions and estimates of management of
Osisko Metals and Pine Point, as the case may be, at the time such stateme nts were made. Actual future
results may differ materially as forward -looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or achievements of Osisko Metals or
Pine Point, as the case may be, to materially differ from any future results, performance or achievements
expressed or implied by such forward -looking statements. Such factors, among other things, include:
satisfaction or waiver of all applicable conditions to closing of th e Arrangement; the synergies expected
from the Arrangement not being realized; business integration risks; fluctuations in general macroeconomic
conditions; fluctuations in spot and forward prices of zinc, gold, silver, base metals or certain other
commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar
exchange rate); change in national and local government, legislation, taxation, controls, regulations and
political or economic developments; risks and hazards asso ciated with the business of mineral exploration,
development and mining (including environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave -ins and flooding); inability to obtain adequate insurance to cover risks and
hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations;
relationships with and claims by local communities and i ndigenous populations; availability of and
increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration
and development (including the risks of obtaining necessary licenses, permits and approvals from
government authorities); title to properties; and those risks set out in each of Osisko Metals ' and Pine
Point's public documents f iled on SEDAR at www.sedar.com. Although the forward -looking statements
contained in this news rele ase are based upon what management of Osisko Metals and/or Pine Point, as
the case may be, believes, or believed at the time, to be reasonable assumptions, Osisko Metals and/or
Pine Point, as the case may be, cannot assure shareholders that actual results will be consistent with such
forward-looking statements, as there may be other factors that cause results not to be as anticipated,
estimated or intended. Both Osisko Metals and Pine Point disclaim 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 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.