Pine Point Mining Limited and the Town of Hay River Sign MOU
Pine Point Mining Limited and the Town of Hay River Sign MOU
MONTREAL, Nov. 05, 2024 -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V: OM; OTCQX: OMZNF;
FRANKFURT: 0B51) is pleased to announce that Pine Point Mining Limited (PPML) and the Town of Hay River have signed a
Memorandum of Understanding (MOU) stating their intentions to work together to seize opportunities for long term sustainable
growth for Hay River through the development and operations of Pine Point Mining Project (Project).
“Pine Point Mining Ltd. is committed to fostering positive and constructive relationships with communities with the aim of
facilitating a positive impact from our mine development project and potential future mining operations for long-term sustainable
growth for all communities impacted by our Project,” said Jeff Hussey, CEO, PPML.
“The Pine Point mine presents an exciting opportunity to significantly benefit residents and businesses of Hay River,” said Her
Worship Kandis Jameson, Mayor, Town of Hay River. “Our Town Council looks forward to working closely with Pine Point
Mining Ltd. to maximize the economic potential of the project while thoughtfully considering all aspects of community impact.”
The MOU allows both parties to identify and discuss issues that advance the development of the Project and provide long-term
beneficial opportunities to the Town of Hay River, its residents and businesses that will continue well past the life of the
proposed Project.
Pine Point Mining Ltd. is a joint venture between Osisko Metals Incorporated and Appian Natural Resources Fund III LP. (See
note About Osisko Metals for further details.) The Town of Hay River is a municipal corporation established under the Cities,
Towns and Villages Act (SNWT 2003, c.22).
PPML town halls
PPML have begun to host a series of town halls to engage with local communities. Pine Point’s CEO Jeff Hussey and
Sustainability Manager Veronica Chisholm, as well as other PPML representatives, will present on key aspects of the project:
mining, processing, tailings, water management, as well as environmental studies completed and underway. They will also
answer questions, and ask for feedback on progress so far.
The following dates and time are confirmed:
Hay River
Hay River Recreation Centre
November 5: 6 to 10 p.m.
Yellowknife
Tree of Peace Friendship Centre
November 25: 6 to 10 p.m.
Planning is ongoing to meet with all local communities, and additional dates will be announced as they are finalized.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals space,
more specifically copper and zinc. The Company is in a joint venture with Appian Capital Advisory LLP for the advancement of
one of Canada's premier past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories, for
which current mineral resources have been calculated for the 2024 MRE (as defined herein). The Project is held under the joint
venture company Pine Point Mining Limited.
The Pine Point Project has a mineral resource estimate consist of 49.5Mt grading 5.52% ZnEq of Indicated Mineral
Resources and 8.3Mt grading 5.64% ZnEq of Inferred Mineral Resources (in accordance with National Instrument 43-101
– Standards of Disclosure for Mineral Projects) . The report’s title is Pine Point Zinc-Lead Project Mineral Resource Estimate
Update, Hay River, Northwest Territories, Canada. Prepared for Osisko Metals Incorporated and Pine Point Mining Limited, it
is effective May 31, 2024. The report’s authors are Pierre-Luc Richard, P. Geo. (PLR Resources Inc.), Colin Hardie, P. Eng.
(BBA Inc.), as well as Carl Michaud, P. Eng., and Alexandre Dorval, P. Eng., both of G Mining Services Inc. The Pine Point
Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, with paved highway
access, an electrical substation, and 100 kilometres of viable haulage roads.
In addition, and outside of the Pine Point JV, the Company acquired in July 2023, from Glencore Canada Corporation, a 100%
interest in the past-producing Gaspé Copper Mine, located near Murdochville in the Gaspé peninsula of Québec. The Company
is currently focused on resource evaluation of the Copper Mountain Expansion Project that hosts a current mineral resource
consisting of an Indicated Mineral Resource of 495Mt grading 0.37% CuEq and an Inferred Mineral Resource of 6.3Mt
grading 0.37% CuEq (in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ); see
May 6, 2024 news release of Osisko Metals entitled “ Osisko Metals announces updated mineral resource estimate at Gaspé
Copper – indicated resource of 495 mt grading 0.37% copper equivalent" ). Gaspé Copper hosts the largest undeveloped
copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of
Québec.
About Appian
Appian Capital Advisory LLP is a London-headquartered investment advisor to long-term value-focused private capital funds
that invest solely in mining and mining-related companies.
Appian is a leading investment advisor in the metals and mining industry, with global experience across South America, North
America, Europe, Australia and Africa and a successful track record of supporting companies to achieve their development
targets, with a global operating portfolio overseeing nearly 6,300 employees. Appian has a global team of 65 experienced
professionals with presences in London, Toronto, Vancouver, Montreal, New York, Lima, Belo Horizonte, Perth, Mexico City
and Dubai. The Appian team, through its private capital funds, has a long history of successfully bringing mines through
development and into production, having completed nine mine builds in the last six years.
For more information, please visit www.appiancapitaladvisory.com, or find Appianm on LinkedIn, Instagram, and Twitter.
Media contacts
Jeff Hussey, CEO, Pine Point Mining Ltd.
Phone: 514-513-6710
Patrick Bergen, Town of Hay River
Phone: 867-874-6522 ext. 216
Email: [email protected]
Follow PPML on www.pinepointmining.com, on LinkedIn at https://www.linkedin.com/company/pine-point-mining-limited/, and
on Facebook at https://www.facebook.com/pinepointminingltd/.
For further information, visit www.osiskometals.com or contact:
Robert Wares, Chairman and Chief Executive Officer, Osisko Metals Incorporated
Email: [email protected]
Phone: 514-861-4441
Follow Osisko Metals on Facebook at https://www.facebook.com/osiskometals , on LinkedIn at
https://www.linkedin.com/company/osiskometals , and on X at https://twitter.com/osiskometals .
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. 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 and Gaspé Copper Projects, including, among other things, the results of the 2022
PEA on Pine Point and the IRR, NPV and estimated costs, production, production rate and mine life; the ability to identify
additional resources and reserves (if any) and exploit such resources and reserves on an economic basis; the expected high
quality of the metal concentrates; the potential economic impact of the projects on local communities, including but not
limited to the potential generation of tax revenues and contribution of jobs; the timing and ability for Projects to reach
construction decision (if at all); the estimated costs to take the Projects to construction decision (if at all) and the impact to
the Company of the disposition of ownership interest and control in the Pine Point Project, which is a material property of the
Company; Gaspé Copper hosting the largest undeveloped copper resource in Eastern North America and Glencore becoming
a Control Person of the Company.
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 and timing for the Pine
Point joint-venture parties to fund cash calls to advance the development of the Pine Point Project and pursue planned
exploration and development; future spot prices of copper, zinc, lead and molybdenum; the timing and results of exploration
and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the
receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour
stability; stability in financial and capital markets; availability of mining equipment and positive relations with local
communities and 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 disclosure record 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 Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 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
https://www.globenewswire.com/NewsRoom/AttachmentNg/418d04f4-1c56-435c-9e53-f75aa021e3c3