Osisko Intersects 256 Metres Averaging 0.85% Cu at Gaspé Includes 28.5 Metres Averaging 4.74% Cu and 27.4 g/t Ag
Osisko Intersects 256 Metres Averaging 0.85% Cu at Gaspé
Includes 28.5 Metres Averaging 4.74% Cu and 27.4 g/t Ag
MONTREAL, Sept. 10, 2026 -- Osisko Metals Incorporated (the “ Company” or “Osisko Metals”) (TSX: OM; OTCQX: OMZNF;
FRANKFURT: 0B51) is pleased to announce additional new analytical results from the 2026 drill program at the Gaspé Copper
Project, located in the Gaspé Peninsula of Eastern Québec.
New results are presented below ( see Table 1 ), including 28 mineralized intercepts from 12 drill holes. Reported “infill”
intercepts are located within the 2026 MRE model ( see April 14, 2026 news release ), focused on upgrading Inferred Mineral
Resources to Measured or Indicated categories, as applicable. “Expansion” intercepts are located outside the 2026 MRE
model and comprise either i) in-pit expansion, which offers potential to convert in-pit waste into additional resources within the
2026 MRE Whittle pit; or ii) out-of-pit expansion, consisting of mineralization located outside the 2026 MRE Whittle pit, which
may potentially lead to the definition of new resources. Some of the reported intercepts may have contiguous shallower infill as
well as deeper expansion (noted as “Both”). Maps showing hole locations are available at www.osiskometals.com .
Osisko Metals Chief Executive Officer Robert Wares commented: “We are very pleased with these excellent new results from
the current drilling, particularly the high-grade intercept in hole 30-1228 located 800 metres west of the 2026 MRE model. The
mineralized system continues to expand beyond the current pit limits with noticeable grade improvement in the area around
Needle Mountain. Additionally, infill holes 30-1233 and 30-1235 produced better-than-average grades at the south end of the
2026 MRE model. New assay results are now being received at a faster pace, and we expect to provide continuous updates
throughout the fall.”
Highlights
• 256.5 metres averaging 0.85% Cu (Out-of-pit expansion) in DDH 30-1228, including 28.5 metres averaging 4.74% Cu
and 27.4 g/t Ag
• 257.5 metres averaging 0.39% Cu (Infill) in DDH 30-1235
• 177.5 metres averaging 0.40% Cu (Infill) in DDH 30-1233
• 101.0 metres averaging 0.44% Cu (In-pit expansion) in DDH 30-1226
• 67.7 metres averaging 0.63% Cu (Out-of-pit expansion) in DDH 30-1234
• 49.7 metres averaging 0.74% Cu (Out-of-pit expansion) in DDH 30-1225
Table 1: Infill and Expansion Drilling Results
DDH No. From (m) To (m) Length (m) Cu % Ag g/t Mo % CuEq* % Type**
30-1224 123.0 151.0 28.0 0.24 2.35 <0.005 0.24 Expansion 1
and 318.0 366.0 48.0 0.16 1.28 0.041 0.30 Expansion 1
and 390.0 428.0 38.0 0.15 1.44 0.039 0.29 Expansion 1
and 546.8 700.0 153.2 0.20 1.58 0.023 0.28 Expansion 2
30-1225 57.0 75.0 18.0 0.14 1.07 <0.005 0.14 Expansion 2
and 88.3 141.0 52.7 0.36 2.11 <0.005 0.37 Expansion 2
and 178.3 228.0 49.7 0.74 3.86 <0.005 0.75 Expansion 2
and 259.5 265.5 6.0 1.19 6.10 <0.005 1.20 Expansion 2
30-1226 43.0 144.0 101.0 0.44 2.35 <0.005 0.45 Expansion 1
and 196.5 214.5 18.0 0.31 2.07 <0.005 0.32 Expansion 2
and 295.5 324.0 28.5 0.24 2.73 <0.005 0.24 Expansion 2
30-1227 73.0 104.0 31.0 0.20 1.54 <0.005 0.20 Infill
and 144.0 172.5 28.5 0.25 2.24 0.005 0.27 Expansion 1
and 204.0 226.0 22.0 0.18 1.57 0.014 0.23 Expansion 1
and 254.0 277.5 23.5 0.16 1.67 0.008 0.18 Expansion 1
30-1228 33.0 289.5 256.5 0.85 5.13 <0.005 0.86 Expansion 2
(including) 199.5 228.0 28.5 4.74 27.4 0.005 4.78 Expansion 2
30-1229 19.5 157.0 137.5 0.34 1.33 <0.005 0.34 Infill
30-1230 195.6 258.0 62.4 0.17 1.12 <0.005 0.17 Expansion 2
and 292.2 316.5 24.3 0.22 1.24 <0.005 0.22 Expansion 2
30-1231 184.5 240.0 55.5 0.19 1.98 <0.005 0.19 Expansion 2
And 270.6 346.5 75.9 0.28 2.10 <0.005 0.28 Expansion 2
30-1232 30.0 55.0 25.0 0.20 2.42 <0.005 0.20 Expansion 2
30-1233 16.0 193.5 177.5 0.40 2.88 <0.005 0.41 Infill
and 222.0 298.5 76.5 0.42 3.91 <0.005 0.43 Infill
and 327.0 379.5 52.5 0.35 2.93 <0.005 0.35 Infill
30-1234 135.3 203.0 67.7 0.63 3.22 <0.005 0.64 Expansion 2
and 234.0 280.5 46.5 0.29 1.55 <0.005 0.29 Expansion 2
30-1235 47.0 304.5 257.5 0.39 3.60 <0.005 0.40 Infill
* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** Infill refers to intercepts within the current MRE model; Expansion 1 refers to in-pit intercepts outside of the current MRE
model; Expansion 2 refers to out-of-pit intercepts outside of the current MRE model. “Both” indicates drill holes that have
contiguous shallower infill as well as deeper expansion intercepts.
Discussion
Drill hole 30-1224, located near the core processing facility, approximately 200 metres west of western limit of the 2026 MRE
model, is a northeasterly dipping hole that cut four mineralized intervals, the first three being in-pit expansions and the fourth
(deepest) interval being the longest and an out-of-pit expansion, consisting of 153.2 metres averaging 0.20% Cu, 0.023% Mo
and 1.58 g/t Ag, extending mineralization in this area to a vertical depth of 660 metres.
Drill hole 30-1225, located on the western margin of the Needle Mountain pit, is an easterly dipping hole that was drilled under
the pit wall, threading through a pillar of the B Zone underground workings and stopping in a stope of the C Zone underground
workings. It cut three mineralized intervals (all out-of-pit expansions), including 52.7 metres averaging 0.36% Cu and 2.11 g/t
Ag, followed by a deeper interval of 49.7 metres averaging 0.74% Cu and 3.86 g/t Ag (B Zone level). This hole also intersected
a short interval of 6.0 metres averaging 1.19% Cu before intersecting the C Zone stopes.
Drill hole 30-1226 is located near the eastern margin of the Needle Mountain pit, approximately 260 metres southwest of the
limit of the 2026 MRE model, and tested an area where little mineralization was expected from historical drilling. It is a
northeasterly dipping hole that cut three mineralized intervals. The first, an in-pit expansion, averaged 0.44% Cu and 2.35 g/t
Ag over 101.0 metres (mostly oxidized mineralization). The next two intervals (out-of-pit expansions below the pit floor)
averaged 0.31% Cu and 2.07 g/t Ag over 18.0 metres and 0.24% Cu and 2.73 g/t Ag over 28.5 metres, extending
mineralization in this area to a vertical depth of 305 metres.
Drill hole 30-1227, located near the western margin of the 2026 MRE model, is a westerly dipping hole designed to better
define the boundary of the 2026 MRE model. It cut four narrow mineralized intervals, the first being an infill interval and the
other three being in-pit expansions. The intervals vary from 22.0 to 31.0 metres wide with grades averaging 0.16% to 0.25%
Cu. Mineralization along this boundary was extended to a vertical depth of 260 metres.
Drill hole 30-1228, located on the western margin of the Needle Mountain pit, is a southeasterly dipping hole that was drilled
under the pit wall, threading through pillars of both the B Zone and C Zone underground workings. It cut one long mineralized
interval (out-of-pit expansion) comprising 256.5 metres averaging 0.85% Cu and 5.13 g/t Ag, including a high grade sub-interval
of 28.5 metres averaging 4.74% Cu and 27.4 g/t Ag (C Zone level). Mineralization in this drill hole extended 50 metres below
the C Zone to a vertical depth of 275 metres. This drill hole demonstrates the potential for higher grade mineralization
surrounding old underground workings, within residual pillars, between the B and C Zones and deeper below the C Zone.
Drill hole 30-1229, located at the southern end of the 2026 MRE model on the northern flank of Needle East Mountain, is an
infill vertical hole that was drilled to test around and under historical underground workings to a level below the C Zone. This
hole intersected 137.5 metres averaging 0.34% Cu and 1.33 g/t Ag, but failed to drill through the B Zone pillar and
consequently did not penetrate either the B nor C Zones.
Drill hole 30-1230, located on the north flank of Needle Mountain on the western margin of the modelled mineralized system, is
a northeasterly dipping hole that cut two mineralized intervals (both out-of-pit expansions), including 62.4 metres averaging
0.17% Cu and 1.12 g/t Ag (above C Zone horizon), followed by a deeper interval of 24.3 metres averaging 0.22% Cu and 1.24
g/t Ag (below C Zone horizon), extending mineralization in this area to a vertical depth of 305 metres. The C Zone horizon in
this hole consisted of unmineralized marble.
Drill hole 30-1231, located near the southeastern margin of the Needle Mountain pit, approximately 820 metres southwest of
the limit of the 2026 MRE model, is an easterly dipping hole that cut two mineralized intervals (out-of-pit expansions), the first
averaging 0.19% Cu and 1.98 g/t Ag over 55.5 metres (above C Zone horizon), and the second averaging 0.28% Cu and 2.10
g/t Ag over 75.9 metres (below C Zone horizon), extending mineralization in this area to a vertical depth of 340 metres. The C
Zone horizon in this hole consisted of unmineralized marble.
Drill hole 30-1232, located between Needle East and the Needle Mountain pit, is a westerly dipping hole that was drilled to test
an area where no mineralization was expected from historical drilling. This hole intersected one zone of mineralization
consisting of 25.0 metres averaging 0.20% Cu and 2.42 g/t Ag (out-of-pit expansion), within the Indian Cove Formation, as well
as several scattered, thin intersections (5 to 10 metres thick) to a vertical depth of 280 metres.
Drill hole 30-1233 is a vertical infill hole located near the southern margin of the 2026 MRE model. It was drilled through a pillar
of the B Zone underground workings and cut three mineralized intervals from surface that returned 177.5 metres averaging
0.40% Cu and 2.88 g/t Ag (B Zone level and above), followed by 76.5 metres averaging 0.42% Cu and 3.91 g/t Ag (C Zone level
extending to 45 metres below this level), and then a third interval of 52.5 metres averaging 0.35% Cu and 2.93 g/t Ag (below C
Zone level). This hole extends mineralization in this area to a vertical depth of 380 metres.
Drill hole 30-1234, located on the northwestern margin of the Needle Mountain pit, on the western margin of the modelled
mineralized system, is a vertical hole that extended a 2024 Osisko hole (30-1038) to deeper levels. This hole cut two
mineralized intervals (both out-of-pit expansions), including 67.7 metres averaging 0.63% Cu and 3.22 g/t Ag (B Zone horizon
and below), followed by a deeper interval of 46.5 metres averaging 0.29% Cu and 1.55 g/t Ag (below C Zone horizon),
extending mineralization in this area to a vertical depth of 280 metres. The second interval reports the merged meterage of
both holes. The C Zone horizon in this hole consisted of unmineralized marble.
Drill hole 30-1235 is a vertical infill hole located near the southern margin of the 2026 MRE model, approximately 170 metres
southwest of 30-1233. It was drilled through a pillar of the B Zone underground workings and cut one continuous mineralized
interval, from near surface, that returned 257.5 metres averaging 0.39% Cu and 3.60 g/t Ag (from B Zone level to below C Zone
level). This hole extends mineralization in this area to a vertical depth of 305 metres.
Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of
chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. One prograde and at least five retrograde
vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier, stratiform, carbonate
replacement skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical
mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization
dominates at Copper Mountain whereas prograde bedding-parallel mineralization, which is mostly stratigraphically controlled,
dominates in the area of lower Copper Mountain, Needle Mountain, Needle East, and Copper Brook. High molybdenum grades
(up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.
The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain
stockwork mineralization ( see May 6, 2024 MRE press release). Extending the resource model south of Copper Mountain into
the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource,
mostly in the Inferred category (see November 14, 2024 MRE press release), and additional drilling in 2025 led to an additional
significant increase in resources, mostly in the Measured and Indicated categories ( see April 14, 2026 MRE press release).
The current drill program is designed to convert the bulk of the remaining 2026 MRE Inferred resources to Measured and
Indicated categories, as well as test the expansion of the overall resource laterally to the west, and to the south/southwest
towards Needle East and Needle Mountain respectively.
Table 2: Drill hole locations
DDH No. Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation
30-1224 70 -70 741 315787 5425813 569
30-1225 98 -47 266 315352 5425252 734
30-1226 70 -70 435 315961 5425168 701
30-1227 248 -70 339 316101 5425612 571
30-1228 130 -74 345 315357 5425341 725
30-1229 0 -90 162 316420 5425456 612
30-1230 75 -80 354 315463 5425655 634
30-1231 85 -78 384 315408 5425045 772
30-1232 250 -70 354 315978 5425040 727
30-1233 0 -90 489 316360 5425511 585
30-1234 0 -90 321 315394 5425418 722
30-1235 0 -90 447 316282 5425365 629
Explanatory note regarding copper-equivalent grades
Copper Equivalent (CuEq) grades are presented for illustrative purposes only to express the combined value of copper,
molybdenum, and silver as a single copper grade. CuEq grades are calculated using long-term metal prices of US$4.50/lb
copper, US$20.00/lb molybdenum, and US$45.00/oz silver, and incorporate assumptions for metallurgical recoveries, payable
metal factors, smelting and refining charges, transportation costs, and royalties. Hence the CuEq calculation is essentially
based on net smelter return (NSR) values. NSR for each metal is estimated by applying metallurgical recoveries, payable
factors, metal prices, and applicable smelting, refining, transportation, and penalty charges to the in-situ metal grades. CuEq
grades are derived using a linear regression relationship established between copper grade and copper NSR, and then
calculated by substituting total NSR (Cu + Mo + Ag) for copper NSR in the regression equation. The simplified formula is
expressed as CuEq (%) = Cu (%) + 3.40327 × Mo (%) + 0.00008 × Ag (g/t)
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P.
Geo. (OGQ 492), an independent “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”).
Quality Assurance / Quality Control
Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre
intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres
or less are generally not reported unless considered material . True widths are estimated at 80 – 90 % of the reported core
length intervals.
Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including
insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to
its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to
ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS
Canada website. 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 Cu, Mo and Ag.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector,
with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from
Glencore Canada Corporation in July 2023. The Gaspé Copper mine site is located near Murdochville in Québec's Gaspé
Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper deposits, with current pit-
constrained Measured and Indicated Mineral Resources of 1.83 Bt averaging 0.32% CuEq and Inferred Mineral
Resources of 239 Mt averaging 0.46% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' April
14, 2026 news release entitled "Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé 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.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point
Mining Limited joint venture to advance one of Canada's largest past-producing zinc mining camps, the Pine Point project,
located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated
Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq
(in compliance with NI 43-101). For more information, see Osisko Metals' June 25, 2024 news release entitled "Osisko Metals
releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq". The Pine Point
project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical
substation and 100 kilometres of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Don Njegovan, President
Email: [email protected]
Phone: (416) 500-4129
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
(often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", “management's
view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility",
"believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or
"could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-
looking information and are intended to identify forward-looking information. This news release contains forward-looking
information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying
Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction
decision (if at all); the ability to increase the Company's trading liquidity and enhance its capital markets presence; the
potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success;
the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated
resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in
eastern North America.
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: the ability of exploration results, including drilling, to accurately predict
mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper
and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production
costs; 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 mining
equipment and positive relations with local communities and 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.sedarplus.ca)
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.
Photos accompanying this release are available at:
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