Osisko Announces Preliminary Q1 2023 Deliveries and Provides Company Update
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OSISKO ANNOUNCES PRELIMINARY Q1 2023 DELIVERIES
AND PROVIDES COMPANY UPDATE
Montréal, April 6, 2023 – Osisko Gold Royalties Ltd (the “ Corporation” or “ Osisko”) (OR: TSX & NYSE) is
pleased to provide an update on its first quarter 2023 deliveries, revenues, cash margin and recent asset
advancements. All monetary amounts included in this report are expressed in Canadian dollars, unless otherwise
noted.
PRELIMINARY Q1 2023 RESULTS
Osisko earned approximately 23,111 attributable gold equivalent ounces1 (“GEOs”) in the first quarter of 2023.
Osisko recorded preliminary revenues from royalties and streams of $59.6 million during the f irst quarter and
preliminary cost of sales (excluding depletion) of $4.0 million, resulting in a quarterly cash margin2 of approximately
$55.6 million (or 93%).
Osisko also repaid an amount of $15.0 million under its revolving credit facility during the first quarter of 2023
whilst the cash balance increased to $119.1 million, resulting in a net debt position of $15.9 million as at March 31,
2023.
Sandeep Singh, President and CEO of Osisko, commented: “Osisko remains exceptionally well positioned for a
record year. We expect to see deliveries grow over the year as our Q1 seasonal impact is behind us, as core
assets continue to ramp up, and with the expected addition of currently accruing silver ounces ahead of a CSA
transaction close. Moreover, the recent catalysts in our portfolio are truly significant. Whether it’s the untapped
regional potential of Canadian Malartic beginning to take shape, the upcoming f inal investment decision for
Hermosa, the ongoing advancement of the high-grade Windfall project, the burgeoning copper-porphyry potential
at Tintic, the emergence of our NSR value on the Corvette lithium deposit, or a multitude of other meaningful
catalysts, our portfolio is positioned to create value for shareholders for an extended period.”
Osisko will provide full production and financial details with the release of its first quarter 2023 results after market
close on Wednesday May 10 th, 202 3 followed by a conference call and webcast on Thursday, May 11 th at
10am ET. More details are provided at the end of this release.
RECENT ASSET ADVANCEMENTS AND UPCOMING CATALYSTS
CSA (100% Silver Stream - Pending Transaction Closing)
Osisko Bermuda Limited (“OBL”), a wholly owned subsidiary of the Corporation, has entered into binding
agreements with Metals Acquisition Corp (“MAC”) with respect to a silver stream (the “Silver Stream”) and backstop
copper stream (the “Copper Stream”) on the producing CSA mine (“CSA”) in New South Wales, Australia.
Pursuant to the Silver Stream agreement, MAC will deliver OBL refined silver equal to 100% of payable silver
produced from CSA for the life of the mine. The economic effective date of the Silver Stream is February 1, 2023.
OBL will make an upfront deposit on closing of US$75 million which will be increased by US$15 million if the
average silver price exceeds $25.50 per ounce over the 10 business day period immediately prior to closing.
Between 2019- 2021, annual payable silver production from CSA averaged ~431,000 ounces, or ~5,700 gold
equivalent ounces annually (based on commodity prices on December 22, 20221).
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Pursuant to the Copper Stream agreement, OBL will provide an upfront deposit of up to US$75 million on account
of future deliveries of refined copper referenced to production from CSA. MAC may draw the Copper Stream
deposit in whole or in part to fund any shortfall in the equity financing required to complete the acquisition of the
mine. If the full deposit is drawn, OBL will be entitled to receive refined copper equal to 3.0% of payable copper
from CSA until the 5 th anniversary of the closing date (the “First Threshold Stream”), then 4.875% of paya ble
copper until 33,000 metric tonnes have been delivered in aggregate (the “Second Threshold Stream”), and
thereafter 2.25% for the remaining life of mine. Between 2019-2021, annual copper production from CSA averaged
~43,000 metric tonnes. Based on historical production levels, average gold equivalent ounces deliverable under
the First Threshold Stream and the Second Threshold Stream would equate to between ~5,700 to 9,300 ounces
annually (based on commodity prices on December 22, 20221).
Proceeds from t he Silver Stream deposit and Copper Stream deposit will be used to partially fund MAC’s
acquisition of CSA from Glencore International AG (the “Acquisition Transaction”). Closing of the Silver Stream
and Copper Stream are subject to, among other things, closing of the Acquisition Transaction. Closing of the
Acquisition Transaction is now expected in the second quarter of 2023.
Canadian Malartic Update (5% NSR royalty on open pit and 3-5% NSR royalty on underground)
On March 31 st, Agnico Eagle Mines Limited’s (“Agnico Eagle”) announced the completion of its acquisition of
Yamana Gold Inc.'s Canadian assets for a closing value of approximately US$3 billion. Agnico Eagle now owns
100% of the Canadian Malartic mine.
In 2023, Canadian Malartic production is expected to be sourced from the Canadian Malartic pit, the Barnat pit
and the Odyssey mine, complemented by ore from the low grade stockpiles. Mining from the Canadian Malartic
pit is expected to be completed late in the fir st half of 2023 and the Odyssey underground mine is forecast to
gradually ramp-up production in 2023. The first production blast was carried out at a depth of 310 metres at the
Odyssey South Mine in late March. The mill throughput is forecast to remain at approximately 51,500 t onnes per
day in an effort to optimize the production profile and cash flows during the transition to processing ore from the
underground Odyssey project.
Starting in 2028, the Canadian Malartic mill will have up to 40,000 tonnes per day of excess capacity. Agnico Eagle
is evaluating opportunities to further increase the mill throughput up to 60,000 t onnes per day through leveraging
a number of near surface and underground opportunities in and around the property. In its recent fourt h quarter
and full year 2022 conference call, Agnico Eagle highlighted that the Canadian Malartic Complex has the potential
to be a plus 1 million ounce a year producer for decades to come, between ore available at the mine site and
external opportunities.
Opportunities on the Canadian Malartic property that could provide additional mill feed include:
• Odyssey South Internal zones and the Jupiter Zone
• The East Gouldie Corridor from surface to a depth of 600 metres
• The East Malartic mine area below 600 metres depth
• East Amphi
• Midway
• Rand Malartic, Camflo and LTA (not covered by an Osisko royalty)
At Canadian Malartic, Agnico Eagle expects to spend approximately US$21.8 million in 2023 for 164,000 metres
of drilling. Exploration at the Odyssey project includes 102,000 metres of drilling with four objectives: continued
drilling into East Gouldie to convert additional Inferred mineral resources to Indicated mineral resources towards
the outer portions of the deposit; testing the immediate extensions of East Gouldie to the west and at shallower
depths; continued conversion drilling into extensions of the Odyssey South deposit; and further investigation of
Odyssey's internal zones. Approximately 40,000 metres of drilling is planned for what Agnico Eagle believes are
highly prospective gold targets along the Barnat and East Gouldie corridors on the Canadian Malartic and Rand
Malartic properties. The remaining 22,000 metres of exploration drilling is planned at the adjacent Camflo property.
The Camflo and Rand Malartic properties are not covered by an Osisko royalty but would be subject to the $0.40
per tonne milling fee payable to Osisko on ore processed from any property that was not part of the Canadian
Malartic property at the time of the sale of the mine in 2014.
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Beyond the opportunities on the property, Agnico Eagle is evaluating the potential to transport ore from Upper
Beaver to Canadian Malartic (approximately 5,000 tonnes per day ) starting in 2030. Various scenarios are being
evaluated by Agnico Eagle to potentially truck ore to the main rail line (a distance of approximately 7.0 kilometres)
and then transport it by train to the Canadian Malartic mill for processing (a distance of approximately 130
kilometres). Agnico Eagle is also evaluating the potential to utilize the excess mill capacity to process ore from
other properties in the Kirkland Lake region, including Upper Canada and Anoki -McBean. The Upper Canada
property currently hosts 722,000 ounces of gold in Measured and Indicated mineral resources (10.4 million tonnes
grading 2.15 g/t gold) and an additional 1.86 million ounces of gold in Inferred mineral resources (18.6 million
tonnes grading 3.11 g/t gold). These projects, as well as the AK deposit, which is expected to produce 20,000 to
40,000 ounces of gold per year starting in 2024, are all covered by a 2% net smelter return (“ NSR”) royalty in
favour of Osisko. Additionally, these opportunities would be subject to the $0.40 per tonne milling fee, if processed
through the Canadian Malartic mill. See Figure 1 for a map highlighting the regional synergy potential.
Figure 1: Agnico Eagle Properties Highlighting Regional Synergy Potential
Mantos Blancos (100% Silver Stream)
On March 20th, Capstone Copper Corp. (“Capstone”) announced a new Sustainable Development Strategy and
the adoption of GHG Emissions reduction targets to support their commitment to responsible copper production.
The strategy identifies five initial priorities with milestones, goals and targets for each.
• Climate: Reduce GHG emissions from fuel and power by 30% by 2030
• Water: Reduce freshwater consumption intensity by 2030
• Tailings: Adopt the Global Industry Standard for Tailings Management by 2026
• Biodiversity: Establish a Biodiversity Standard and assess all sites by 2025
• Communities: Establish a Social Performance Standard and asses all sites by 2025
Commercial production has been declared at the Mantos Blancos Concentrator Debottlenecking Project. The key
focus for the ramp-up remains the plant's availability, and in particular on mechanical compliance with respect to
preventative maintenance and systems. Design work is underway on a feasibility study for the Phase II expansion,
expected to be released in the second half of 2023, to utilize the unused capacity in the plant to increase the
throughput from the current design of 7.3 million tonnes per year to 10 million tonnes per day.
Eagle Gold Mine (5% NSR Royalty)
On April 5th, Victoria Gold Corp. (“Victoria”) announced production of 37,619 ounces of gold during the first quarter
of 2023 at the Eagle Gold mine (“Eagle”). While gold production was seasonally low, as expected, results represent
a 55% increase in production versus the same period last year and importantly, tonnes stacked on the heap leach
pad were 133% higher than the first quarter of 2022.
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Victoria’s first quarter operations plan for 2023 included a ramp up to full stacking of ore on the heap leach pad.
Prior to 2023, there was a cessation of stacking during the first quarter due to seasonally cold temperatures.
Victoria has successfully demonstrated year -round stacking of ore on the heap leach pad is both technically
feasible and operationally achievable. Both gold grade and metallurgical recovery continue to reconcile well
against the Eagle reserve model.
On February 24th, Victoria released an updated technical report at Eagle, including an updated Life of Mine plan.
Summary highlights include average gold production of 202,000 ounces per year over the first 8 years, with peak
production of 219,000 in 2025 and a throughput increase to steady -state level of 11.5 million tonnes per year
during 2025. Ultimate Life of Mine recovery is projected to be 76.2% and over 2.0 million ounces of gold are
forecast to be produced over the remaining mine life. Increased production is achievable utilizing the existing
crushing and conveying circuit and mining fleet. The Eagle orebody continues to reconcile extremely well with the
reserve model and gold production is in line with original recovery expectations.
A notable improvement from th e 2019 Eagle Technical Report has been increasing the crush size from a target
P80 of 6.5 mm to 12- 14 mm with no appreciable reduction in gold recovery. In addition, the total leach time is
longer than initially estimated and operational results indicate that the ultimate gold recovery will likely be modestly
higher than the recovery projected in the 2023 Eagle Technical Report.
The mineral inventory for Eagle and Olive remain comparable to the 2019 Eagle Technical Report Reserves after
depletion with Proven and Probable Reserves of 124 million tonnes of 0.65 g/t for 2.58 million ounces of gold. The
decrease in tonnage from the 2019 mineral reserves represents depletion from mining through December 31,
2022 and minor differences from cut -off grade adjustments. Since the commencement of operations, the Eagle
Mineral Reserve estimate has reconciled well to mining actuals.
Seabee (3% NSR Royalty)
On February 22 nd, SSR Mining Inc. announced fourth quarter and annual production numbers for 202 2 from
Seabee of 24,709 ounces of gold and 136,125 ounces of gold, respectively. 2022 gold production was a record
in Seabee’s 30-year operating life. 2023 guidance of between 100,000 – 110,000 ounces is expected to be 55%
weighted to the second half of the year as processed grades are expected to be lower in the first and second
quarters of 2023 before improving in the second half.
Lamaque (1% and 2.5% NSR Royalty)
Eldorado Gold Corporation (“Eldorado”) announced 2023 guidance and a five year production outlook. Lamaque
is forecast to produce between 170,000- 180,000 ounces of gold in 2023, 180,000- 190,000 ounces in 2024,
175,000-185,000 ounces in 2025 and 180,000-200,000 ounces in 2026 and 2027.
On March 30th, Eldorado reported completion of over 31,000 metres of resource expansion drilling and over 21,000
metres of resource conversion drilling at the Ormaque deposit . Assay results include numerous high- grade
intercepts to the east of, and below the current resource area, some representing extensions to known mineralized
zones and some related to newly identified mineralized zones. These include 2.5 metres of 20.47 g/t gold located
200 meters east of the current resource and 1.6 metres of 54.01 g/t go ld located 40 metres east of the current
resource.
Drilling at Ormaque in 2023 will include 27,000 metres of underground resource conversion drilling within existing
Inferred mineral resources, and approximately 10,000 metres of surface drilling testing step-outs to the east of and
below the known deposit.
The recent development of the 650-level exploration drift at the Triangle Mine provides access to deeper platforms
for resource expansion and resource conversion drilling of the Lower Triangle deposit . Approximately 17,600
metres of resource conversion drilling is planned for 2023, mainly targeting areas of Inferred mineral resources in
the C7 zone but also extending locally to test more sparsely drilled areas of deeper mineralized zones. There are
also approximately 13,000 metres of underground exploration drilling planned from platforms along the Sigma-
Triangle decline, testing multiple conceptual targets and step- outs from previous high-grade drill intercepts. All of
these areas are covered by Osisko’s 1% NSR royalty.
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Several regional targets are expected to be drill tested this year adjacent to the previously mined deposits at the
Lac Herbin, Ferderber and Dumont mines and various early-stage targets mainly within the Bourlamaque Batholith.
These regional targets are covered by Osisko’s 2.5% NSR royalty.
Ermitaño (2.0% NSR Royalty)
On February 23 rd, First Majestic Silver Corp. (“First Majestic”) announced fourth quarter and annual production
results highlighting continued strong metal product ion from the Ermitaño mine . Ermitaño achieved commercial
production and its second highest quarter of production in the fourth quarter . In 2023 , First Majestic expects to
transition to 100% of production from Ermitaño compared to 60% of the 2022 plant feed at the Santa Elena
processing plant. Underground development in 2023 will focus exclusively in the Ermitaño mine to achieve 2,500
tonnes per day of underground ore extraction and infill drilling will be focused on converting Inf erred mineral
resources to Indicated mineral resources.
Windfall Gold Project (2-3% NSR Royalty)
On March 29 th, Osisko Mining Inc. (“Osisko Mining”) announced submission of its Environmental Impact
Assessment for the Windfall Project, an important milestone highlighting the start of the permitting and
authorization process for the project ahead of a production decision in 2024.
On March 16 th, Osisko Mining announced that it has signed a definitive agreement with Miyuukaa Corp.
(“Miyuukaa”), a wholly-owned corporation of the Cree First Nation of Waswanipi, with respect to the construction
of proposed transmission facilities and the transport of hydroelectric power to the Windfall Project. Construction
work commenced during the first quarter of 2023 and is projected to take 12 months to complete.
Fifteen rigs are active underground and at surface performing a combination of infill and exploratory drilling. The
exploration ramp is currently at 640 metres vertical depth, and over 13 kilometres length underground. Nine drills
are active on the exploration ramp, and the advance towards the fourth bulk sample (the 800 metre level Lynx 4
sample) is planned to resume in the second half of 2023.
Osisko Development Update
On March 2 nd, Osisko Development Corp. (“Osisko Development”) announced the closing of a bought deal
financing for an aggregate 7.8 million units at a price of $6.60 per unit for aggregate gross proceeds of
$51.8 million, including the full exercise of the over -allotment option. Net proceeds are intended to advance the
development of Osisko Development’s main projects, being the Tintic Project and the Cariboo Gold Project, and
for general corporate purposes. After closing of this offering, Osisko owns 39.9% of Osisko Development.
In January 2023, Osisko Development announced an initial mineral resource estimate for the Trixie deposit, on
the Tintic property. Measured and Indicated mineral resources were estimated at 213,000 ounces of gold and
385,000 ounces of silver (236,000 tonnes grading 28.08 g/t gold and 50.77 g/t silver ) and Inferred mineral
resources were estimated at 243,000 ounces of gold and 530,000 ounces of silver (385,000 tonnes grading 19.64
g/t gold and 42.82 g/t silver). Approximately 62% of the 1,390 metre Trixie portal underground decline ramp to the
625 level has been completed to date. The decline will significantly improve access to the underground workings,
enable bulk extraction at higher tonnage, expand potential underground exploration target areas and provide
sufficient flexibility to complete additional programs targeting mineral resource growth potential beyond the 625
level.
In January 2023, Osisko Development announced feasibility study results for the Cariboo Gold Project (“Cariboo”).
The study highlighted a phased 12 year mine life producing, on average, 163,695 ounces of gold per year. Phase 1
envisions a 1,500 tonne per day operation producing 72,501 ounces of gold for the first three years and Phase 2
of 4,900 tonnes per day producing 193,798 ounces of gold per year for the remaining mine life. Osisko
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Development anticipates completion of the Environmental Assessment in the third quarter of 2023 for receipt of
final permits in the first quarter of 2024.
While Osisko Development continues to expect to receive the final permits for full scale operation at San Antonio,
the timeline to obtain final permits is not yet defined considering the recent statements made by certain Mexican
government officials on open-pit mine permit issuances.
Hermosa (1% NSR Royalty)
In the first half of fiscal year 2023, South32 Limited (“South32”) invested US$96 million (of the budgeted
US$250 million for 2023) at Hermosa on critical path dewatering infrastructure and study work, ahead of a final
investment decision on the Taylor zinc-lead-silver deposit, expected in mid 2023.
South32 also announced that they have confirmed the opportunity for Hermosa’s Clark deposit to supply battery -
grade manganese into the growing North American electric vehicle supply chain. Multiple work streams are
currently underway to unlock value including metallurgical test work and bulk sample collection to support the pilot
plant production, w hich is expected to start and operate from mid- 2023 onward , exploring potential synergies
between the Taylor and Clark deposits; an updated JORC Mineral Resource estimate is expected mid 2023.
Pine Point (3.0% NSR Royalty)
On February 22 nd, Osisko Metals Incorporated announced a joint venture with a subsidiary of Appian Natural
Resources Fund III LP (“Appian”) for the advancement of the Pine Point Project. Appian is investing up to
C$100 million, over four years, to earn up to a 60% interest in Pine Point. The announcement signifies a significant
de-risking event and should cover all the costs required to bring the asset to a shovel- ready status. When in
production, and based on the 2022 preliminary economic assessment, Pine Point has the potential to add
approximately 9,000 GEOs per annum to Osisko’s production profile.
Casino (2.75% NSR Royalty)
On March 24 th, Western Copper and Gold (“Western Copper”) announced a strategic equity investment by
Mitsubishi Materials Corporation (“Mitsubishi”) of approximately 5.0% of shares outstanding, representing another
strong endorsement of the project. Western Copper will use the proceeds of the strategic investment to advance
the project and to fund specific areas of study, developed with input from Mitsubishi, with the aim of progressing
to a development phase for the Casino Project. This recent endorsement, post the May 2021 investment by Rio
Tinto Canada Inc., is another strong signal of the importance of the Casino project, which has the potential of
becoming another flagship asset for Osisko.
Patriot Battery Metals (2% NSR Royalty on Lithium covering the majority of drilled area)
On March 29th, Patriot Battery Metals Inc. announced another sixteen holes from its winter 2023 drill program at
Corvette targeting the eastward extension of the high-grade Nova Zone in the eastern area of the CV5 Pegmatite.
All holes reported are located on Osisko’s r oyalty ground, although a portion of the high- grade Nova Zone and
CV5 lie outside Osisko’s royalty claims. The recent drilling has extended the zone along strike by a further 400
metres. CV5 has now been traced over 3.15 kilometres and remains open along strike at both ends and to depth
along most of the length. Results include 83.7 metres at 3.13% Li2O including 19.8 metres at 5.28% Li2O. Six drill
rigs are active at the CV5 Pegmatite.
The primary objectives of the 2023 drill campaign are to further delineate the extent of the CV5 Pegmatite resulting
in an initial mineral resource estimate scheduled for the second quarter of 2023, as well as infill drilling to refine
the geological model to achieve indicated mineral resource confidence to support a Pre-Feasibility Study.
Tocantinzinho Gold Project (0.75% Royalty)
On March 6th, G Mining Ventures Corp. (“G Mining”) announced that construction at the Tocantinzinho Gold Project
remains on track and on budget for commercial production in the second half of 2024. Advancements include
detailed engineering, procurement, equipment delivery, workforce ramp up, construction, and progress on open
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pit mining. As of January 31 st, 2023, detailed engineering is 62% complete and overall project procurement has
progressed to 88% completion. Expenditures and schedule are tracking in line with the Feasibility Study from
February 2022. G Mining anticipates completion of detailed engineering through the first half of 2023 and the
issuance of an inaugural ESG report in 2023 ahead of commercial production in the latter half of 2024.
Marimaca Copper (1% NSR Royalty)
On February 6 th, Marimaca Copper Corp. (“Marimaca”) announced final results from its 2022 drill campaign.
Results comprised 2,762 metres of drilling, across 12 holes , located in the central Marimaca Oxide Deposit
(“MOD”) and target pit -wall areas, for geotechnical purposes, around the perimeter of the MOD. Geotechnical
holes were drilled to gather geotechnical information but all holes intersected significant, near surface, mineralized
zones with grades at or well above the average for the October 2022 mineral resource estimate. Highlights from
drilling include 346 metres at 0.71% Total Copper (“CuT”) including 90 metres at 1.22% CuT and 140 metres at
0.50% CuT including 12 metres at 1.89% CuT. Marimaca has finalized plans for its 2023 exploration program,
which will follow-up on previously released hole MAD-22, which intersected primary sulphides (92 metres at 2.11%
CuT).
West Kenya (2.0% NSR Royalty)
On February 22 nd, Shanta Gold Limited (“Shanta”) announced an updated mineral resource estimate for the
Ramula deposit at the West Kenya project following the completion of its 2022 drill program. Ramula currently has
an Indicated, pit constrained resource estimate of 5.3 million tonnes grading 2.43 g/t for 416,700 ounces of gold.
The whole West Kenya project now hosts I ndicated mineral resources of 7.3 million tonnes of 4.86 g/t for 1.14
million ounces of gold and Inferred mineral resources of 2.5 million tonnes of 7.6 g/t for 0.62 million ounces of gold.
Planned drilling in 2023 and 2024 will be focused on targets adjacent to Ramula that aim to deliver substantial
resource additions and new discoveries. Shanta management is reviewing permitting, plant location, mining
sequencing and an accelerated timeline to full economic assessment.
Amulsar (4.22% Gold Stream, 62.5% Silver stream, 81.9% Gold Offtake)
On February 22nd, Lydian Armenia CJSC (“Lydian”), the Eurasian Development Bank (“EDB”) and the government
of Armenia signed a Memorandum of Understanding pursuant to which the parties agreed to take specific steps
and measures which are necessary for the restart of construction of the Amulsar project. As part of the agreement,
the government of Armenia has agreed to provide certain guarantees, including a financial guarantee to the EDB
and a local bank, who will provide a construction loan to Lydian for up to US$150 million. Lydian continues to seek
an operating entity to restart construction of Amulsar.
Altar (1.0% NSR Royalty)
On March 1 st, Aldebaran Resources Inc. (“Aldebaran”) reported drilling results at the Altar copper -gold project
including 1,167.5 metres of 0.43% copper and 0.05 g/t gold, including 418.0 metres of 0.61% copper and 0.05 g/t
gold. The hole was drilled into a previously untested area between Altar Central and Altar East and highlights the
potential for the deposit to continue to gain size and scale.
The Altar deposit currently hosts Measured and Indicated mineral r esources of 11.4 billion pounds of copper and
3.4 million ounces of gold (1.2 billion tonnes at 0.43% copper and 0.09 g/t gold) and Inferred mineral resources of
1.7 billion pounds of copper and 0.4 million ounces of gold (189 million tonnes of 0.42% copper and 0.06 g/t gold).
In the third quarter of 2022, a subsidiary of South32 made a strategic investment into Aldebaran for approximately
9.9% of the shares outstanding.
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ADDITIONAL HIGHLIGHTS
1) Talisker Resources reported an inaugural resource estimate at Bralorne including Indicated mineral
resources of 117,000 tonnes at 8.9 g/t gold for 33,000 ounces and Inferred mineral r esources of 8 million
tonnes at 6.3 g/t gold for 1.63 million ounces (1.7% NSR royalty)
2) Eagle Mountain Mining announced results from Oracle Ridge including 25.5% copper, 1,935 g/t silver and
15.2 g/t gold over 0.6 metres ( 3.0% NSR royalty)
3) ArcWest Exploration announced an earn- in agreement with Freeport -McMoRan to advance the Todd
Creek copper-gold project in BC’s Golden Triangle ( 1.5% - 2.0% NSR royalty)
4) Oceana Gold reported that due to slower than expected drilling at Wharekirauponga in 2022, a NI 43 101
compliant PFS is now expected in H1 2024 ( 2.0% NSR royalty)
5) Calibre Mining announced 23% increase in Pan Mine Mineral Reserves, net of depletion and 12% increase
in Measured and Indicated mineral resource ( 4.0% NSR royalty)
6) Roscan announced granting of Environmental Permit for Kandiole Gold Project (1.0% NSR royalty)
7) Northwest Copper announced drill results from Lorraine including 45.85 metres of 0.49% copper and
0.29 g/t gold (2% NSR royalty)
8) Brunswick Exploration announced option agreements with Osisko Development to acquire 90% interest
in the PLEX and Anatacau projects targeting lithium pegmatite deposits in James Bay region of Quebec
(3.0% NSR royalty)
9) Commerce Resources Corp. announced twelve holes completed at the Ashram Rare Earth and Fluorspar
Deposit as part of its 2022 drill program including 392.8 metres at 2.12% rare earth oxide ( 1.0% NSR
royalty)
Q1 2023 RESULTS AND CONFERENCE CALL DETAILS
Osisko provides notice of first quarter 2023 results and webcast and conference call details.
Results Release: Wednesday, May 10th, 2023 after market close
Conference Call: Thursday, May 11th, 2023 at 10:00 am ET
Dial-in Numbers: North American Toll-Free: 1 (888) 886 7786
Local and International: 1 (416) 764 8658
Conference ID: 02416869
Webcast link: https://viavid.webcasts.com/starthere.jsp?ei=1608666&tp_key=f4d17ca2be
Replay (available until Sunday,
June 11th at 10:00 am ET):
North American Toll-Free: 1 (877) 674 7070
Local and International: 1 (416) 764 8692
Playback Passcode: 416869#
Replay also available on our website at www.osiskogr.com