Osisko Metals Intersects 14.87% Zinc+Lead Over 12.74 Metres at Pine Point and Grants Stock Options

Osisko Metals Intersects 14.87% Zinc+Lead Over 12.74 Metres at Pine Point

and Grants Stock Options

MONTREAL, Jan. 30, 2019 -- Osisko Metals Incorporated (the “ Company” or “Osisko Metals”) (TSX-V: OM; FRANKFURT:

OB51) is pleased to announce assay results from the latest 7 drill holes completed in the East Mill Zone (“EMZ”) within the

Pine Point Mining Camp (“PPMC”). Drill hole EM-18-PP-151 intersected 8.07% Zinc and 6.80% Lead over 12.74 metres

within the modeled K-32 pit boundaries. Drill hole EM-18-PP-392 intersected 10.90% Zinc and 4.28% Lead over 6.00 metres

at the west edge of the modeled K-32 pit boundary, and hole EM-18-PP-182 intersected 11.78% Zinc and 6.01% Lead over

4.35 metres in an area 130 metres to the south of the currently modeled pit boundary, near historical Cominco drilling . (See

2018-2019 Drill Campaign: East Mill Zone - K-32 pit ). The pit number refers to modeled resources pits included in the recently

filed NI43-101 Technical Report filed on SEDAR.

All intersections are within flat lying tabular-style deposits and all intercepts are located above 30 metre depths . Highlights

are listed below in Table 1 and details are provided in Tables 2 & 3.

Table 1 : Selected Drill Highlights

Hole Name Area Deposit From To Width Zinc Lead Lead + Zinc

(metres) (metres) (metres) % % %

EM-18-PP-151 EMZ K-32-01 16.31 29.05 12.74 8.07 6.80 14.87

EM-18-PP-182 EMZ K-32-01 20.90 25.25 4.35 11.78 6.01 17.79

EM-18-PP-392 EMZ K-32-01 15.00 21.00 6.00 10.90 4.28 15.18

EM-18-PP-393 EMZ K-32-01 18.00 26.50 8.50 4.85 0.78 5.63

The Company would also like to issue a correction to the 2019 Corporate Outlook press release issued January 15th. The

words “pit-constrained” were omitted from the President’s quote, and should have read: “Osisko Metals is now the only junior

in the Americas with a pit-constrained Inferred Resource of 5.5 billion pounds of zinc and lead that has excellent expansion

potential.”

Jeff Hussey, President & CEO of Osisko Metals, commented: “It is also worth pointing out that the high grade, large tonnage,

near surface mineralization at Pine Point is unique among its peer group, as nearly 90% of zinc mine production 1 globally is

sourced from underground mines, underscoring the rarity of open pit zinc assets like Pine Point. Furthermore, with low cost

hydro-electric power available on site and a rail head located within 60km, Osisko Metals is well positioned to rapidly advance

Pine Point. While we announced our maiden resource for the Pine Point project in December 2018, we are still receiving assay

results from the 2018 definition drilling campaign, totalling over 40,000 meters of additional drilling completed following the cut-

off date for the recently filed 2018 Mineral Resource Estimate (“MRE”). These results will be incorporated into the next MRE

planned for 2019. The drilling reported today continues to expand and confirm Pine Point’s high grade, near surface

mineralization.”

The newly modeled K-32 pit, located within the East Mill Zone currently measures 300 metres in strike length with an average

mineralized north-south width of approximately 130 metres. It is located 4.5 kilometres east of the electrical sub-station along

a main haul road. Reported NI43-101 Inferred Mineral Resources for the East Mill Zone total 5.5 million tonnes of 3.76% Zinc

and 1.30% Lead.

The objective of the 2018 drill program was to convert the Cominco Ltd. unclassified near-surface historical resources into the

NI43-101 Inferred Mineral Resource (see press release dated December 6 2018). These areas are considered to be amenable

to open pit mining.

PPMC is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure and paved highway

access and with 100km of haulage roads already in place.

1. Wood Mackenzie Database

Table 2: Composite Assay Results

Hole Name Deposit From To Drilled Width True Width Zinc Lead Lead + Zinc

(metres) (metres) (metres) (metres) % % %

EM-18-PP-151 K-32-01 16.31 29.05 12.74 11.03 8.07 6.80 14.87

EM-18-PP-182 K-32-01 20.90 25.25 4.35 4.35 11.78 6.01 17.79

EM-18-PP-228 K-32-01 14.00 15.00 1.00 1.00 1.17 0.51 1.67

EM-18-PP-392 K-32-01 15.00 21.00 6.00 6.00 10.90 4.28 15.18

EM-18-PP-393 K-32-01 18.00 26.50 8.50 8.50 4.85 0.78 5.63

EM-18-PP-394 K-32-01 13.10 14.10 1.00 1.00 0.02 1.14 1.15

EM-18-PP-395 K-32-01 27.00 29.00 2.00 2.00 2.78 0.27 3.05

Table 3: Drill hole collar locations (UTM NAD83 zone 11)

Hole Name Area Deposit Easting Northing Elevation Azimuth Dip Depth (metres)

EM-18-PP-151 EMZ K-32-01 643500.8 6752302.1 215.28 120 -60 45.00

EM-18-PP-182 EMZ K-32-01 643500.2 6752127.4 214.80 0 -90 42.00

EM-18-PP-228 EMZ K-32-01 643898.6 6752460.7 215.77 0 -90 36.00

EM-18-PP-392 EMZ K-32-01 643489.7 6752298.1 215.00 0 -90 42.00

EM-18-PP-393 EMZ K-32-01 643487.0 6752350.2 215.00 0 -90 42.00

EM-18-PP-394 EMZ K-32-01 643589.4 6752341.9 215.00 0 -90 42.00

EM-18-PP-395 EMZ K-32-01 643545.3 6752063.9 215.00 0 -90 42.00

Granting of Stock Options

The Osisko Metals Board of Directors approved the grant of incentive stock options to directors, officers and key employees to

purchase up to an aggregate of 2,662,000 common shares in the capital stock of the Company. Grants are subject to a three-

year vesting period and a five-year term at an exercise price of $0.55 per share.

Note regarding mineral resources and Qualified Persons

The above-mentioned Inferred Mineral Resources conform to National Instrument 43-101 standards. These mineral resources

were reported by the Company on December 6, 2018 and the independent qualified person for the resource estimate, as

defined by NI43 101 guidelines, is Pierre-Luc Richard, P. Geo, of BBA Inc.

Stanley G. Clemmer, P. Geo registered in the Northwest Territories and is Chief Geologist for Pine Point Mining Limited, a

wholly owned subsidiary of Osisko Metals Limited. He is the Qualified Person responsible for the technical data reported in

this news release.

Quality Assurance / Quality Control

Osisko Metals adheres to a strict Quality Assurance and Quality Control program with regard to core handling, sampling,

transportation of samples and lab analyses. Drill core samples from the Pine Point project area were securely transported to

its core facility in Hay River, Northwest Territories where they were logged and sampled. Samples selected for assay were

shipped via secure transportation to the ALS Canada Ltd.’s preparation facility in Yellowknife. Pulps were analyzed at the ALS

Canada Ltd. facility in North Vancouver, British Columbia. All samples are analyzed by four acid digestion followed by both

ICP-AES and ICP-MS for ultra-trace level detection for a multi-element suite with a 1% upper detection limit for base metals.

Samples reporting over 1% for Zn and 1% for Pb are analyzed by assay grade four acid digestion and ICP-AES analysis with

an upper detection limit of 30% and 20% respectively. Samples reporting Zn >30% and or Pb >20% are analyzed by traditional

titration.

About Osisko Metals

Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on

zinc mineral assets. The Company controls Canada’s two premier zinc mining camps. The Company’s flagship, the Pine Point

Mining Camp (“PPMC”), located in the Northwest Territories, has an Inferred Mineral Resource of 38.4 Mt grading 4.58% zinc

and 1.85% lead, making it the largest high grade, pit constrained zinc deposit in Canada (please refer to the Amended

Technical Report for further information). Within the Bathurst Mining Camp (“BMC”), located in northern New Brunswick, the

Company is focused on drilling and developing the Key Anacon Project, which previously had only sporadic exploration work

since the 1960’s. In 2019, the Company will continue to diligently develop and explore in order to confirm and grow both

projects. In Québec, the Company owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced

through exploration.

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

(438) 399-8665

Email: [email protected]

www.osiskometals.com

Cautionary Note Regarding 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. 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 timing 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 valuation 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 include, 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 exploration and development industry; and those

risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation 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 Corporation 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. No stock exchange, securities

commission or other regulatory authority has approved or disapproved the information contained herein.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4d09bed7

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