Osisko Publishes Inaugural Asset Handbook and 2021 ESG Report
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OSISKO PUBLISHES INAUGURAL ASSET HANDBOOK AND 2021 ESG REPORT
Montréal, April 19th, 2022 – Osisko Gold Royalties Ltd (the “ Corporation” or “Osisko ”) (OR: TSX & NYSE) is
pleased to announce the publication of its inaugural Asset Handbook and the second edition of the Corporation’s
environmental, social and governance (“ESG”) report, Growing Responsibly.
2022 Asset Handbook
Osisko has built a deep portfolio of high-quality royalty and streaming assets, in favourable jurisdictions, operated
by reputable mining partners . The portfolio provides exposure to over 165 royalties and streams , including
20 producing assets which underpin Osisko’s 2022 guidance of 90,000 to 95,000 gold equivalent ounces (“GEOs”)
at a 93% cash margin 1. To this solid foundation, significant internal growth is expected over the coming years ,
demonstrated by the recently announced five-year outlook which reaches 130,000 to 140,000 GEOs in 2026.
Osisko’s mining partners continue to add value through exploration, with an average of over 1 million meters drilled
each of the past five years on shared assets, unlocking significant upside through new discoveries, reserve and
resource additions and mine extensions and expansions. Over the course of 2021, Osisko’s estimate of
Attributable GEOs2 (net of depletion) grew across all categories , experiencing an increase of 6% in Proven and
Probable reserves, 12% in Measured and Indicated resources and 4% in Inferred resources.
Sandeep Singh, President and CEO of Osisko commented: “The 2022 Asset Handbook provides a comprehensive
review of our unique asset base and the significant upcoming catalysts supporting both near -term and long-term
growth. In our view, long-term value is only preserved and created for as long as Osisko and its partners operate
in a responsible manner. Through our second edition of Growing Responsibly , we seek to provide a holistic
summary of our ESG footprint, our continued ambition to improve, and our achievements against that ambition
throughout the year. The company is going through a transformational phase, and we trust that these reports will
assist stakeholders in understanding the fundamental value, and sustainable nature, of our business.”
2021 ESG Report
In 2021, Osisko advanced its management of ESG matters with notable achievements across all areas. The
following are select highlights of Osisko’s commitment to growing sustainably:
• Launched inaugural ESG report, Growing Responsibly , to better communicate the Corporation’s
performance and approach to managing ESG matters;
• Committed to the UN Global Compact to formally align with its Ten Principles;
• Formed a strategic partnership with Carbon Streaming Corporation to promote global decarbonisation
and biodiversity efforts through carbon credit streaming transactions;
1 Cash margin is a non-IFRS financial performance measure which has no standard definition under IFRS. It is calculated by deducting the cost of
sales from the revenues (excluding depletion). For more details, refer to Osisko’s press release dated February 24, 2022 entitled “Osisko Reports
Strong 2021 Results and Provides 2022 Guidance and 5 -Year Outlook” filed on Sedar (www.sedar.com) and available on Osisko’s website
(www.osiskogr.com).
2 For the purpose of estimating Attributable GEOs, royalty assets are tabulated using the percentage of revenues or metal produced that is attributable
to Osisko. In the case of a stream, we adjust the percentage of metal attributable to Osisko for the ongoing transfer price payable by Osisko so the
resulting total can be considered on a 100% attributable basis. For a detailed breakdown of the mineral resources and reserves, and the attributable
royalty or stream on individual assets, please refer to the Asset Handbook on Osisko’s website at www.osiskogr.com . Estimates of Attributable
GEOs are subject to uncertainty due to a number of factors that are described in the Cautionary Notes section of Asset Handbook available on
Osisko’s website.
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• Engaged a third party expert to provide an initial estimate of Scope 3 GHG emissions intensity
attributable to Osisko’s share of the revenue from its portfolio;
• Enhanced reporting by aligning Osisko’s disclosure with Sustainability Account Standards Board (“SASB”)
industry standards; and
• Maintained a leading position within MSCI’s ESG rating and improved Osisko’s position in Sustainalytics
precious metals ESG ranking.
The 2022 Asset Handbook and the 2021 ESG Report, Growing Responsibly, can be found on Osisko’s website at
www.osiskogr.com
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais,
Ph.D., P.Geo., Vice President, Project Evaluation at Osisko Gold Royalties Ltd, who is a “qualified person” as
defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Osisko Gold Royalties Ltd
Osisko 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 16 5 royalties, streams and precious metal
offtakes. Osisko’s portfolio is anchored by its cornersto ne asset, a 5% net smelter return royalty on the Canadian
Malartic mine, which is the largest gold mine in Canada.
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:
Heather Taylor
Vice President, Investor Relations
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), timely developments of mining properties over whi ch Osisko has
royalties, streams, offtakes and investments, management’s expectations regarding Osisko’s growth, results of operations, est imated future
revenues, production costs, carrying value of assets, 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 market s 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”, “pr ojects”, “potential”,
“scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”, “would”, “may”, “could” or
“should” occur including, without limitation, that the 2022 guidance and the 2026 outlook will be met, that exploration will continue to add value
to our assets, that upcoming catalyst events will be achieved in a timely manner and that Osisko will continue to improve its ESG performance.
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: fluctuations in the prices of the commodities that drive royalties, streams, offtakes and investments held by Osisko; fluctuations in
the value of the Canadian dollar relative to the U.S. dollar; regulatory changes by national and local governments, 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, stream or other interest are located or through which they are held; risks related to the operators of the properties in
which Osisko holds a royalty, stream or other interests; timely development, permitting, construction, commencement of production, ramp-up
(including operating and technical challenges) on any of the properties in which Osisko holds a royalty, stream or other interest; rate and timing
of production differences from resource estimates or production forecasts by operators of properties in which Osisko holds a royalty, stream
or other interest; the unfavorable outcome of any challenges or litigation relating title, permit or license with respect to any of the properties in
which Osisko holds a royalty, stream or other interests or to Osisko’s right thereon; differences in rate and timing of production from resource
estimates or production forecasts by operators of properties in which Osisko holds a royalty, stream or other interest, including conversion
from resources to reserves and ability to replace resources; business opportunities that become available to, or are pursued by Osisko;
continued availability of capital and finan cing and general economic, market or business conditions; risks and hazards associated with the
business of exploring, development and mining on any of the properties in which Osisko holds a royalty, stream or other inter est, 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, the integration of acquired assets and the 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. The
forward-looking statements contained in this press release are based upon assumptions management beli eves to be reasonable, including,
without limitation: the ongoing operation of the properties in which Osisko holds a royalty, stream or other interest by the owners or operators
of such properties in a manner consistent with past practice and with public disclosure (including forecast of production); 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 producti on); no adverse development in respect of any significant property in which Osisko holds a
royalty, stream or other interest; that statements and estimates relating to mineral reserves and resources by owners and operators of the
properties in which Osisko holds a royalty, stream or other interest are accurate; the Company’s ongoing income and assets relating to
determination of its “passive foreign investment company” (“PFIC”) status; integration of acquired assets; and the absence of any other factors
that could cause actions, events or results to differ from those anticipated, estimated or intended.
For additional information on risks, uncertainties and assumptions, please refer to the most recent Annual Information Form of Osisko filed on
SEDAR at www.sedar.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. In this press release, Osisko
relies on information publicly disclosed by third parties pertaining to its assets and, therefore, assumes no liability for s uch third party public
disclosure. 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 because of new information, future events or otherwise, other than as required by applicable law.