Osisko Metals Update on Previously-Announced Option to Acquire Gaspé Copper Project
Osisko Metals Update on Previously-Announced Option to Acquire Gaspé
Copper Project
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MONTREAL, July 04, 2022 -- Osisko Metals Incorporated (the " Company" or " Osisko Metals ") ( TSX-V: OM ; OTCQX:
OMZNF; FRANKFURT: 0B51) is pleased to update that Glencore Canada Corporation and the Company have agreed to
extend to July 8, 2022, the time for exercise of the Company's option to acquire the Gaspé Copper project, located near
Murdochville in the Gaspé peninsula of Québec.
The Company's option to purchase from Glencore Canada Corporation, a 100% interest in the Gaspé Copper property, 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 exploration 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.
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-political, marketing or other relevant issues. The
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 evidence
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 technical report; the option with Glencore Canada Corporation; the size and closing date of the
Offering (if at all); 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,
performance 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 option with Glencore Canada Corporation; the geology of Gaspé 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.