Osisko Board Update
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OSISKO BOARD UPDATE
MONTREAL, November 20, 2023 — Osisko Gold Royalties Ltd (“Osisko” or the “Corporation”) (TSX
and NYSE: OR) announced today that Mr.Sean Roosen has resigned as a director of the Corporation
in order to focus all of his time and attention on his role as Chief Executive Officer and Chair of the
Board of Directors of Osisko Development Corp.
“With the Corporation’s recent announcement of Mr. Jason Attew as President and Chief Executive
Officer and Mr. Norman MacDonald as Chair of the Board, Osisko Gold Royalties is in extremely strong
and talented hands and now is the right time for me to focus all my efforts on the future success of
Osisko Development”, said Mr. Roosen. “I am proud of my contributions to Osisko Gold Royalties and
look forward to watching it create long- term sustainable value for its shareholders over many years
ahead as one of the premier intermediate North American precious metal royalty companies.”
Mr. Norman MacDonald, Chair of Osisko’s board of directors, said: “On behalf of our board and
shareholders, I want to thank Sean for his many contributions to Osisko over the years. As a significant
shareholder of Osisko Development Corp., we support his decision to focus his efforts on the success
of Osisko Development and look forward, as a shareholder, to enjoying the benefits of him doing so.”
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 180 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,
one of Canada’s largest gold mines.
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
Email: [email protected]
Heather Taylor
Vice President, Sustainability & Communications
Tel: (514) 940-0670 #105
Email: [email protected]
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CAUTIONARY NOTE REGARDING 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 Canadi an securities
legislation. All statements in this press release, forward-looking statements are statements other than statements of historical fact, that address,
without limitation, future events, production estimates of Osisko’s assets (including increas e of production), 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, c ommencement 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; 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, and (e) responses of relevant governments to the COVID-19 outbreak and the effectiveness of such response
and the potential impact of COVID-19 on Osisko’s business, operations and financial condition; 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. The f orward-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 assets 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 i n 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 proper ties (including
expectations for the dev elopment 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.
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.com and EDGAR at www.sec.gov which 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. 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.