Osisko Announces Gibraltar Silver Stream Amendment
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OSISKO ANNOUNCES GIBRALTAR SILVER STREAM AMENDMENT
Montréal, April 29, 2020 – Osisko Gold Royalties Ltd (“Osisko”) (OR: TSX & NYSE) is pleased to
announce that it has completed an amendment to its 75% silver stream (the “Silver Stream”) with respect
to the Gibraltar copper mine (“Gibraltar”), located in British Columbia, Canada, which is operated by a
wholly-owned subsidiary of Taseko Mines Limited (“Taseko”).
Osisko and Taseko have amended the Silver Stream by reducing the price paid by Osisko for each
ounce of refined silver from USD $2.75 to nil in exchange for cash consideration of CAD $8.5 million to
Taseko.
Sean Roosen, Chair and CEO of Osis ko commented: “We are pleased to announce this transaction
further improving one of our high-quality Canadian precious metal assets while also continuing our
strong partnership with Taseko. Our agreement with Taseko increases Osisko’s operating margin on
the Silver Stream to 100% fro m 80% while providing Taseko with general working capital support
contributing to its strong pro-forma cash position of approximately $58.5 million. Gibraltar is a long-life
asset with a proven operator and, as such, this investment continues to provide Osisko’s shareholders
with silver price optionality over multiple cycles”.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas
that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 135
royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset,
a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.
Osisko also owns the Cariboo gold project in Canada as well as a portfolio of publicly held resource
companies, including a 15. 8% interest in Osisko Mining Inc., 17.9% interest in Osisko Metals
Incorporated and an 18.3% interest in Falco Resources Ltd.
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:
Sandeep Singh
President
Tel. (514) 940-0670
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Forward-looking Statements
Certain statements contained in this press release may be deemed “forward ‐looking statements” within the meaning of
applicable Canadian and U.S. securities laws. These forward ‐looking statements, by their nature, require Osisko to make
certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in these forward ‐looking statements. Forward ‐looking statements are not
guarantees of performance. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”,
“estimate”, “continue”, or the negative or comparable terminology, as well as terms usually used in the future and the
conditional, are intended to identify forward‐looking statements. Information contained in forward‐looking statements is based
upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including the
realization of the anticipated benefits deriv ing from its investments and the transaction with Taseko and the general
performance of the assets of Osisko , management’s perceptions of historical trends, current conditions and expected future
developments, as well as other considerations that are belie ved to be appropriate in the circumstances. Osisko considers its
assumptions to be reasonable based on information currently available, but cautions the reader that their assumptions
regarding future events, many of which are beyond the control of Osisko, may ultimately prove to be incorrect since they are
subject to risks and uncertainties that affect Osisko and its business. Such risks and uncertainties include, among others,
fluctuations in the prices of the commodities that drive royalties held by Osisko; fluctuations in the value of the Canadian dollar
relative to the U.S. dollar; regulatory changes in national and local government, including permitting and licensing regimes and
taxation policies; regulations and political or economic developments in any of the countries where properties in which Osisko
holds a royalty or other interest are located or through which they are held; risks related to the operators of the propertie s in
which Osisko holds a royalty, influence of macroeconomic developments, market or business conditions; litigation; title, permit
or license disputes related to interests on any of the properties in which Osisko holds a royalty or other interest; development,
permitting, infrastructure, operating or technical difficulties, delays or adverse climatic conditions or on any of the properties in
which Osisko holds a royalty or other interest; rate and timing of production differences from resource estimates or production
forecasts by operators of properties in which Osisko holds a royal ty or other interest ; risks and hazards associated with the
business of exploring, development and mining on any of the properties in which Osisko holds a royalty or other interest,
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, and the responses of relevant governments to the COVID-
19 outbreak and the effectiveness of such responses.
For additional information with respect to these and other factors and assumptions underlying the forward ‐looking statements
made in this press release, see the section entitled “Risk Factors” in the most recent Annual Information Form of Osisko which
is filed with the Canadia n securities commissions and available electronically under Osisko’s issuer profile on SEDAR at
www.sedar.com and with the U.S. Securities and Exchange Commission and available electronically under Osisko’s issuer
profile on EDGAR at www.sec.gov. The forwa rd‐ looking statements set forth herein reflect Osisko’s expectations as at the
date of this press release and are subject to change after such date. Osisko disclaims any intention or obligation to update or
revise any forward ‐looking statements, whether a s a result of new information, future events or otherwise, other than as
required by law.