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Osisko Metals Elects Board Members and Grants Stock Options

Management Changes Share Capital & Compensation

OSISKO METALS ELECTS BOARD MEMBERS AND GRANTS STOCK OPTIONS

(Montréal, Québec – August 28, 2017) Osisko Metals Incorporated (the “Company” or “Osisko Metals”)

(TSX-V:OM; FRANKFURT: OB5) is pleased to announce that shareholders have approved the

appointment of nominated directors to its Board for the following year, comprising Mr. Robert Wares as

Chairman of the Board , as well as Ms. Amy Satov, Mr. Claude Charron, Mr. Jeff Hussey, Mr. John

Burzynski, Mr. Luc Lessard and Mr. Paul A. Dumas.

Grant of Stock Options

Shareholders have also approved the Company’s Stock Option Plan and the Company wishes to

announce that the Board of Directors has approved the granting of incentive stock options to its

Directors, Employees and consultants to acquire up to an aggregat e of 2,150,000 common shares of

Osisko Metals Incorporated. All of the options are exercisable for a perio d of 5 years at a price of $1.70

per share.

The options will vest over a period of two years and all common shares issuable pursuant to the exercise

of options are subject to a hold period of four months and one day from the date of the option grant.

About Osisko Metals

Osisko Metals is a Canadian base metal exploration and development company creating value in the

zinc space in Canada. In 2017, the Company acquired over 40,000 hectares in the Bathurst Mining Camp

(“BMC”), a major historical zinc-lead-silver producing district. The objective is to develop a multi-deposit

asset base in the BMC that would feed a central concentrator. In Québec, the Company acquired 42,000

hectares that cover 12 grass -root zinc properties that will be selectively advanced through exploration.

In parallel, Osisko Metals will be monitoring several zinc -oriented peers for other acquisition

opportunities. Osisko Gold Royalties Ltd. (TSX/ NYSE: OR ) and Osisko Mining Inc. (TSX: OSK) are

significant shareholders of the Company.

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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

Neither 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 release.

Cautionary Note Regarding Forward-Looking Information

This news release contains " forward‐looking information " within the meaning of the applicable Canadian securities

legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The

information provided in this news release about the exploration and/or resource development projects, including new results

from drill programs, the signific ance of assay results, potential mineralization, including the discovery of new mineralized

zone, the potential to extend mineralization in any direction, the ability to complete any proposed exploration activities an d

the results of such activities, the c ontinuity or extension of any mineralization and any other information herein that is not a

historical fact, may all be forward -looking information. Any statement that involves discussions with respect to 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", "bu dget", "scheduled", "forecasts", "estimates", "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 to

occur or be achieved) are not statemen ts of historical fact and may be forward -looking information and are intended to

identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of

management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors

which may cause the actual results, performance or achievements of Company to be materially different from any future

results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among

others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralizatio n;

errors in management's geological modelling; the ability of Company to comple te further exploration activities, including

drilling; property interests in the relevant projects; the ability of the Company to obtain required approvals and complete

transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic

climate; metal prices; dilution; environmental risks; and community and non –governmental actions. Although the forward -

looking information contained in this news release is based upon what management believes, or believed at the time, to be

reasonable assumptions, Company cannot guarantee shareholders and prospective purchasers of securities of the Company

that actual results will be consistent with such forward -looking information, as there may be other factors th at cause results

not to be as anticipated, estimated or intended, and neither Company nor any other person assumes responsibility for the

accuracy and completeness of any such forward looking informat ion. Company does not undertake, and assumes no

obligation, to update or revise any such forward looking statements or forward -looking information contained herein to

reflect new events or circumstances, except as may be required by law.