Osisko Metals Announces 50,000 Metre Drill Program at Pine Point and Outlines Exploration and Development Program
OSISKO METALS ANNOUNCES 50,000 METRE DRILL PROGRAM AT PINE POINT
AND OUTLINES EXPLORATION AND DEVELOPMENT PROGRAM
(Montreal – February 26, 2018) Osisko Metals Incorporated (the “ Company” or “ Osisko Metals ”)
(TSX-V: OM; FRANKFURT: OB5) is pleased to announce that a 50,000-metre drill program has started at
Pine Point, which the Company will fund from its cash balance.
Jeff Hussey, President and CEO, commented: “The Pine Point transaction has closed and it represents an
important step for Osisko Metals as we initiate rapid development plans in one of Canada’s once most
profitable former producing zinc mining camps. We are planning an aggressive exploration program to
confirm, upgrade and expand the portfolio of over 40 historical deposits. Shallow mineralization will allow
us to rapidly convert the historical resources into NI43 -101 complian t Mineral Resource Estimate s and
incorporate them into economic studies. Drilling has commenced at Pine Point with detailed planning of an
estimated 50,000 metre program in 2018 that is focused on the above -stated objectives. The ongoing
50,000 metre drill program in the B athurst Mining Camp will continue concurrently and the combined
programs are expected to total 100,000 metres of drilling in two premiere zinc mining camps. Our national
drilling campaign is one of the largest base metal exploration programs in our junior mining peer group”.
In early February, three drill rigs were mobilized to the Pine Point project and began drilling h igh priority
targets that have poor summer access. The winter drilling will continue over approximately the next five
weeks before temporarily stopping for spring break-up. Drilling is expected to resume by May 2018.
The exploration program at Pine Point will also include an airborne geophysical survey planned for Q2/18
including detailed gravity gradiometry and total field magnetics. The favourable carbonate horizon is
approximately 200 to 300 metres thick w here the majority of the historic drilling target ed zinc-lead
mineralization in the upper third of this favorable stratigraphy . Mineralization at Pine Point was
characteristically unresponsive to historical geophysical surveys limiting previous exploration programs.
Gravity gradiometry, unavailable during the time of these historical surveys, is the only type of geophysical
tool that will identify potential targets below or adjacent to the historical deposits. The detailed airborne
magnetic survey will be used to map regional faults which are commonly associated to mineralizing
conduits. Coincident gravity anomalies located along faults or especially at fault intersections would be high
priority drill targets.
Drilling will confirm and delineate existing historical resources as well as investigate new exploration target
areas. Confirmation drilling will focus initially on deposits located near the electrical substation , former
concentrator site, and Pine Point town site. These deposits, known as Cluster Deposits 1 were not included
in the JDS May 2017 PEA. Exploration drilling will target forthcoming airborne anomalies following a
thorough compilation of historical data. See Pine Point Property map for details.
Metallurgical testing, advanced baseline environmental studies and engineering trade -off studies will be
performed as part of an aggressive development program concurrent to the large exploration program.
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Qualified Person
Mr. Robin Adair is the Qualified Person responsible for the technical data reported in this news release. He
is a Professional Geologist registered in New Brunswick and is Vice President Exploration of Osisko Metals
Incorporated.
About Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space
with an emphasis on zinc mineral assets in Canada. The Company 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 also owns a 100% interest in the Pi ne
Point mining camp located in the Northwest Territories, in which there is over 50 Million tonnes of open-pit
historical resources with a strong exploration upside. 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 grass-root zinc targets that will be selectively advanced through exploration.
In parallel, Osisko Metals is monitoring several base metal -oriented peers for p rojects and acquisition
opportunities. Osisko Gold Royalties Ltd (TSX/NYSE: OR) and Osisko Mining Inc. (TSX: OSK) are
significant shareholders of Osisko Metals.
For further information on 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
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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward -looking information" within the m eaning 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 use of proceeds of the Offering; the ti ming and ability of the Corporation, if at all, to obtain
final approval of the Offering from the TSX Venture Exchange; an exemption being available under MI 61 -
101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valua tion
requirements for each related party transaction; objectives, goals or future plans; statements regarding
exploration results and exploration plans. Factors that could cause actual results to differ materially from
such forward -looking information incl ude, but are not limited to, capital and operating costs varying
significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or
failures to obtain required governmental, environmental or other project approvals; uncertainties relating to
the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations
in commodity prices; delays in the development of projects; the other risks involved in the mineral
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exploration and development industry; and those risks set out in the Corporation's public documents filed
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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 Corporation disclaims
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information, future events or otherwise, other than as required by law.
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policies of th e 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.