Osisko Metals Exercises Option to Acquire Gaspé Copper Project
OSISKO METALS EXERCISES OPTION TO ACQUIRE GASPÉ COPPER PROJECT
/ NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES /
(Montréal, Québec – July 11, 2022) Osisko Metals Incorporated (the " Company" or " Osisko
Metals") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce that
Glencore Canada Corporation and the Company hav e entered into definitive documentation for
the option granted to the Company to acquire the Gaspé Copper project, located near
Murdochville in the Gaspé peninsula of Québec (the " Option"). In addition, the Company has
given notice of its exercise of the Option. Completion of the acquisition of the Gaspé Copper
project pursuant to the Option remains subject to typical closing conditions, including among
other things, approval of the TSX Venture Exchange, and is anticipated to occur following the
satisfaction or waiver of such conditions.
The Option to purchase the 100% interest in the Gaspé Copper project from Glencore Canada
Corporation is more particularly described in the management's discussion and analysis of the
Company for the three-month period ended March 31, 2022, a copy of which is available on
SEDAR (www.sedar.com) under Osisko Metals' issuer profile.
About Osisko Metals
Osisko Metals Incorporated is a Canadian expl oration and development company focused on
creating value in the base metal space. The Company owns one of Canada's premier past-
producing zinc mining camps, the Pine Point Project, located in the Northwest Territories for which
the 2020 PEA (as defined herein) has indicated an after-tax NPV of $500 million and an IRR of
29.6%. The 2020 PEA is based on current Mineral Resource Estimates that are amenable to open
pit and shallow underground mining and consists of 12.9Mt grading 6.29% ZnEq of Indicated
Mineral Resources and 37.6Mt grading 6.80% ZnEq of Inferred Mineral Resources. Please refer
to the technical report entitled "Preliminary Economic Assessment, Pine Point Project, Hay River,
North West Territories, Canada" dated July 30, 2020 (with an effective date of June 11, 2020) (the
"2020 PEA"), prepared by BBA Inc. and WSP Canada Inc., for Osisko Metals and Pine Point Mining
Limited, a copy of which is available on SEDAR ( www.sedar.com) under Osisko Metals' issuer
profile. Pine Point is located on the south shore of Great Slave Lake in the Northwest Territories,
near infrastructure, paved highway access, and has an electrical substation as well as 100
kilometres of viable haulage roads already in place.
Qualified Person
Mr. Jeff Hussey, P. Geo., is the Qualified Person and President/COO for Osisko Metals
Incorporated. He is responsible for the technical data reported in this news release and he is a
Professional Geologist registered in Québec.
Cautionary Statements Regarding Mineral Resource Estimate
Readers are cautioned that mineral resources are not mineral reserves and that the economic
viability of mineral resources that are not mineral reserves has not been demonstrated. The mineral
resource estimate described in this news release may be materially affected by geology,
environmental, permitting, legal, title, socio-politic al, marketing or other relevant issues. The
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mineral resource estimate is classified in accordance with the Canadian Institute of Mining,
Metallurgy and Petroleum's "CIM Definition Standards on Mineral Resources and Mineral
Reserves" incorporated by reference into National Instrument 43-101 – Standards of Disclosure
for Mineral Projects. Readers are cautioned not to assume that further work on the stated mineral
resources will lead to mineral reserves that can be mined economically. The quantity and grade of
the reported inferred mineral resources are conceptual in nature and are estimated based on
limited geological evidence and sampling. Geological ev idence is sufficient to imply but not verify
geological grade and/or quality of continuity. Zinc equivalency percentages noted above are
calculated using metal prices, forecasted metal recoveries, concentrate grades, transport costs,
smelter payable metals and charges.
For further information on this news release, visit www.osiskometals.com or contact:
Robert Wares
Chairman & CEO
Osisko Metals Incorporated
(514) 861-4441
Email: [email protected]
www.osiskometals.com
Cautionary Statement on 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 in this news release about the 2020 PEA, including the economics described therein; the
Option with Glencore Canada Corporation; the timing and ability (if at all) of the Corporation to satisfy the conditions
precedent and complete the acquisition of the Gaspé Copper project pursuant to the Option; and any other
information herein that is not a historical fact may 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", "budget",
"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 statements 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 such assumptions and estimates were made, and involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of Osisko Metals
to be materially different from any future results, per formance or achievements expressed or implied by such
forward-looking information. Such factors include, but are not limited to, the ability to complete transactions on terms
announced; the ability of the Company to satisfy the conditions precedent to complete the acquisition of the Gaspé
Copper project pursuant to the Option; the geology of Gas pé Copper; the ability of exploration activities, including
drilling, to accurately predict metallurgy; 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 exploration and
development industry; and those risks set out in the Company's public documents filed on SEDAR (www.sedar.com)
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) accepts responsibility for the adequacy or accuracy of
this news release.