Osisko Metals Acquires Additional Claims Near Gaspé Copper
Osisko Metals Acquires Additional Claims Near Gaspé Copper
MONTREAL, Dec. 06, 2024 -- Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX:
OMZNF; FRANKFURT: 0B51) is pleased to announce the acquisition of a group of 199 claims adjacent to its Gaspé Copper
Project (the “Claims”).
Pursuant to a sales agreement dated October 8, 2024 with the two private holders of the interest in the Claims, Osisko Metals
acquired a 100% interest in the Claims in exchange for the issuance of 5,000,000 common shares of its capital stock and the
grant of a 2% net smelter return royalty, half of which is redeemable for an amount of $2,000,000.
The common shares issued in connection with the acquisition are subject to various restriction periods to a statutory hold
period expiring four months and one day from the date of issue pursuant to applicable Canadian securities laws. The Claims
cover additional ground near the Gaspé Copper project, including claims over potential tailings storage areas, and exploration
targets to the north and south of the current property.
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 is located near Murdochville in Québec 's Gaspé
Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated
Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in
compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 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 at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 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, Northwest Territories, close to infrastructure, with paved road access, an electrical
substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: [email protected]
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 anticipated changes to the management and Board of the Company; the
ability for the Company to complete the Transaction on the terms contemplated (if at all); the size of the Transaction; the
Closing Date of the Transaction; the ability for the Company to obtain the conditional and final approval of the TSX Venture
Exchange; the anticipated use of proceeds of the Transaction; 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 expectation that management and directors of the Company will be
significant shareholders of the Company following the Transaction; 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept 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.