Osisko Metals Supports Global Infrastructure and Energy Transition Efforts
Osisko Metals Supports Global Infrastructure and Energy Transition Efforts
MONTREAL, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the " Company" or " Osisko Metals") (TSX-
V: OM ; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to support recently announced infrastructure initiatives, both in the
United States and globally. The bipartisan milestone event in the United States is replicated across other nations, including
the European Union which announced major infrastructure investments earlier this summer.
Zinc is an integral component of infrastructure spending through galvanization (i.e. corrosion resistance) of steel parts, which
accounts for over 60% of zinc demand. With higher environmental and stringent sustainability criteria, average zinc usage is
expected to increase across the construction, infrastructure and transport industry. Most of the newly announced funds will be
directed towards industries where galvanization is required.
Robert Wares, Chairman and CEO, commented: “The passing of a major US$1.2 trillion-dollar bill designed to invest in public
infrastructure by the United States congress is an important positive signal for the North American base metal industry. Zinc is
a key component of sustainable, long-lived infrastructure such as bridges and roads and demand will be well supported by
continued investment in the coming decade. Spot prices for zinc have remained buoyant throughout the year, staying above
US$1.30/lb since last spring and defying market expectations of softening prices. We strongly believe elevated zinc prices will
be maintained throughout the next decade.”
“Combined with new pledges announced at COP26, the time for governments to invest in public infrastructure alongside energy
transition efforts is now. Osisko Metals is pleased to support these initiatives and the Pine Point project will be a key part of
the mining’s industry response to these new challenges. Work at Pine Point is advancing on-time and on-budget and we look
forward to releasing our updated PEA at the end of Q1 2022.”
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the base metal space. The
Company controls one of Canada’s premier past-producing zinc mining camps, the Pine Point Project, located in the
Northwest Territories for which the 2020 PEA has indicated an after-tax NPV of $500M and an IRR of 29.6%. The Pine Point
Project PEA is based on current Mineral Resource Estimates that are amenable to open pit and shallow underground mining
and consist 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, which has been filed on SEDAR. The Pine Point Project is located on the
south shore of Great Slave Lake in the Northwest Territories, near infrastructure, paved highway access, and has an electrical
substation and 100 kilometres of viable haulage roads already in place. Pine Point is one of the few significant undeveloped
zinc assets with access to infrastructure, which will potentially produce one of the cleanest zinc concentrates globally.
The current Mineral Resources mentioned in this press release conform to NI43-101 standards and were prepared by
independent qualified persons, as defined by NI43-101 guidelines. The abovementioned Mineral Resources are not Mineral
Reserves as they do not have demonstrated economic viability. 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
evidence is sufficient to imply but not verify geological grade and/or quality of continuity. Zinc equivalency percentages are
calculated using metal prices, forecasted metal recoveries, concentrate grades, transport costs, smelter payable metals and
charges (see respective technical reports for details).
For further information on this press release, visit www.osiskometals.com or contact:
Robert Wares, CEO
Osisko Metals Incorporated
Email: [email protected]
www.osiskometals.com
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
are not statements of historical fact and constitute forward-looking information. This news release may contain forward-looking
information pertaining to the Pine Point Project, including, among other things, the results of the PEA and the IRR, NPV and
estimated costs, production, production rate and mine life; the expectation that the Pine Point Project will be an robust
operation and profitable at a variety of prices and assumptions; the expected high quality of the Pine Point concentrates; the
potential impact of the Pine Point Project in the Northwest Territories, including but not limited to the potential generation of
tax revenue and contribution of jobs; and the Pine Point Project having the potential for mineral resource expansion and new
discoveries. 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: favourable equity and debt capital markets; the ability to
raise additional capital on reasonable terms to advance the development of its projects and pursue planned exploration; future
prices of zinc and lead; the timing and results of exploration and drilling programs; the accuracy of mineral resource
estimates; production costs; operating conditions being favourable; political and regulatory stability; the receipt of
governmental and third party approvals; licences and permits being received on favourable terms; sustained labour stability;
stability in financial and capital markets; availability of equipment; and positive relations with local 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 documents
filed at www.sedar.com. 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 TSXV)
accepts responsibility for the adequacy or accuracy of this news release.