Eagle GOLD MINE Operations Update
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EAGLE GOLD MINE OPERATIONS UPDATE
(Montréal, June 25, 2024) - Osisko Gold Royalties Ltd (the “ Company” or “Osisko”) (OR: TSX &
NYSE) notes that its operating partner, Victoria Gold Corp. ( or “Victoria”), announced yesterday that
the heap leach pad at its Eagle Gold Mine (“Eagle”) in the Yukon Territory experienced a failure. Eagle
operations have been temporarily suspended while Victoria continues to assess the situation. At this
early stage, it has been confirmed by Victoria that there has been some damage to infrastructure and a
portion of the failure has left containment. There have been no injuries to personnel associated with the
incident. Osisko is monitoring the situation closely and plans to maintain an open line of communication
with Victoria as more information becomes available. Osisko holds a 5% NSR royalty on Eagle until
97,500 ounces of gold have been delivered and a 3% NSR royalty thereafter. Osisko’s royalty covers
the entire Dublin Gulch property including the reserves on the Eagle and Olive ore deposits and all of
the exploration targets being most actively pursued by Victoria.
For more detailed information, please refer to Victoria’s press release dated June 24, 2024.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company which holds a North
American focused portfolio of over 185 royalties, streams and precious metal offtakes, including
19 producing assets. Osisko’s portfolio is anchored by its cornerstone asset, a 3-5% net smelter return
royalty on the Canadian Malartic Complex, one of Canada’s largest gold operations.
Osisko’s head office is located at 1100 Avenue des Canadiens -de-Montréal, Suite 300, Montréal,
Québec, H3B 2S2.
For further information, please contact Osisko Gold Royalties Ltd:
Grant Moenting
Vice President, Capital Markets
Tel: (514) 940-0670 #116
Mobile: (365) 275-1954
Email: [email protected]
Heather Taylor
Vice President, Sustainability & Communications
Tel: (514) 940-0670 #105
Email: [email protected]
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Forward-looking statements
Certain statements contained in this press release may be deemed “forward- looking statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and “forward- looking information” within the meaning of
applicable Canadian securities legislation. Forward-looking statements are statements other than statements of historical fact,
that address, without limitation, future events, production estimates of Osisko’s assets (including increase of production), and
in particular production at Victoria Gold’s Eagle Gold mine, timely developments of mining properties over which Osisko has
royalties, streams, offtakes and investments, management’s expectations regarding Osisko’s growth, results of operations,
estimated future revenues, production costs, carrying value of assets, ability to continue to pay dividend, requirements for
additional capital, business prospects and opportunities future demand for and fluctuation of prices of commodities (including
outlook on gold, silver, diamonds, other commodities) currency markets and general market conditions. In addition, statements
and estimates (including data in tables) relating to mineral reserves and resources and gold equivalent ounces are forward -
looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can
be given that the estimates will be realized. Forward-looking statements are statements that are not historical facts and are
generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”,
“potential”, “scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”,
“would”, “may”, “could” or “should” occur. Forward-looking statements are subject to known and unknown risks, uncertainties
and other factors, most of which are beyond the control of Osisko, and actual results may accordingly differ materially from
those in forward-looking statements. Such risk factors include, without limitation, (i) with respect to properties in which Osisko
holds a royalty, stream or other interest; risks related to: (a) the operators of the properties, (b) timely development, permitting,
construction, commencement of production, ramp-up (including operating and technical challenges), (c) differences in rate and
timing of production from resource estimates or production forecasts by operators, (d) differences in conversion rate from
resources to reserves and ability to replace resources, (e) the unfavorable outcome of any challenges or litigation relating title,
permit or license, (f) hazards and uncertainty associated with the business of exploring, development and mining including, but
not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave- ins, flooding and other
natural disasters or civil unrest or other uninsured risks; (ii) with respect to external factors: (a) fluctuations in the prices of the
commodities that drive royalties, streams, offtakes and investments held by Osisko, (b) fluctuations in the value of the Canadian
dollar relative to the U.S. dollar, (c) regulatory changes by national and local governments, including permitting and licens ing
regimes and taxation policies; regulations and political or economic developments in any of the countries where properties in
which Osisko holds a royalty, stream or other interest are located or through which they are held, (d) continued availability of
capital and financing and general economic, market or business conditions, (e) responses of relevant governments to infectious
diseases outbreaks and the effectiveness of such response and the potential impact of such outbreaks on Osisko’s business,
operations and financial condition ;(iii) with respect to internal factors: (a) business opportunities that may or not become
available to, or are pursued by Osisko or (b) the integration of acquired assets, (c) the determination of Osisko’s PFIC stat us
(d) Osisko’s ability to deliver on its climate strategy. The forward-looking statements contained in this press release are based
upon assumptions management believes to be reasonable, including, without limitation: the absence of significant change in
the Corporation’s ongoing income and ass ets relating to determination of its Passive Foreign Investment Company (“PFIC”)
status; the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated
or intended and, with respect to properties in which Osisko holds a royalty, stream or other interest, (i) the ongoing operation
of the properties by the owners or operators of such properties in a manner consistent with past practice and with public
disclosure (including forecast of production), (ii) the accuracy of public statements and disclosures made by the owners or
operators of such underlying properties (including expectations for the development of underlying properties that are not yet in
production), (iii) no adverse development in respect of any significant property, (iv) that statements and estimates relating to
mineral reserves and resources by owners and operators are accurate and (v) the implementation of an adequate plan for
integration of acquired assets. All forward-looking statements contained in this press release are expressly qualified in their
entirety by the cautionary statements contained or referred to in this section.
For additional information on risks, uncertainties and assumptions, please refer to the most recent Annual Information Form of
Osisko filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.govwhich also provides additional general assumptions
in connection with these statements. Osisko cautions that the foregoing list of risk and uncertainties is not exhaustive. Investors
and others should carefully consider the above factors as well as the uncertainties they represent and the risk they entail.
Osisko believes that the assumptions reflected in those forward-looking statements are reasonable, but no assurance can be
given that these expectations will prove to be accurate as actual results and prospective events could materially differ from
those anticipated such the forward-looking statements and such forward-looking statements included in this press release are
not guarantee of future performance and should not be unduly relied upon. These statements speak only as of the date of this
press release. In this press release, Osisko relies on information publicly disclosed by other issuers and third parties pertaining
to its assets and, therefore, assumes no liability for such third-party public disclosure. Osisko undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise,
other than as required by applicable law.