Osisko Metals Incorporated (the “
Company” or
“
Osisko Metals”) (TSX-V: OM; OTCQX: OMZNF;
FRANKFURT: 0B51) is pleased to announce that, as set out in the
bulletin of the TSX-Venture Exchange (the "
TSX-V")
issued yesterday afternoon, its common shares will resume trading
on Friday, April 1, 2022. The trading halt was imposed by the
TSX-V, subsequent to the announcement that Osisko Metals had signed
a binding term sheet with Glencore Canada Corporation
(“
Glencore” and collectively the
“
Parties”), providing Osisko Metals with an option
(the “
Option”) to acquire a 100% interest in the
past-producing Gaspé Copper Mine (
“Gaspé Copper”)
located near Murdochville, Québec. Exercise of the Option remains
subject to, among other things, typical conditions imposed by the
TSX-V. For further information, please see the press release of the
Company dated March 28, 2022.
Qualified Person
Mr. Jeff Hussey, P. Geo., is the Qualified
Person and President/COO for Osisko Metals Incorporated. He is
responsible for the technical data reported in this news release
and he is a Professional Geologist registered in Quebec.
About Osisko Metals
Osisko Metals Incorporated is a Canadian
exploration and development company creating value in the base
metal space. The Company controls one of Canada’s premier
past-producing zinc mining camps, the Pine Point Project, located
in the Northwest Territories for which the 2020 PEA has indicated
an after-tax NPV of $500M and an IRR of 29.6%. The Pine Point
Project PEA is based on current Mineral Resource Estimates that are
amenable to open pit and shallow underground mining and consist of
12.9Mt grading 6.29% ZnEq of Indicated Mineral Resources and 37.6Mt
grading 6.80% ZnEq of Inferred Mineral Resources. Please refer to
the technical report entitled “Preliminary Economic Assessment,
Pine Point Project, Hay River, Northwest Territories, Canada” dated
July 30, which has been filed on SEDAR. The Pine Point Project is
located on the south shore of Great Slave Lake in the Northwest
Territories, near infrastructure, paved highway access, and has an
electrical substation as well as 100 kilometres of viable haulage
roads already in place.
The current Mineral Resources mentioned in this
press release conform to NI43-101 standards and were prepared by
independent qualified persons, as defined by NI43-101 guidelines.
The abovementioned Mineral Resources are not Mineral Reserves as
they do not have demonstrated economic viability. The quantity and
grade of the reported Inferred Mineral Resources are conceptual in
nature and are estimated based on limited geological evidence and
sampling. Geological evidence is sufficient to imply but not verify
geological grade and/or quality of continuity. Zinc equivalency
percentages are calculated using metal prices, forecasted metal
recoveries, concentrate grades, transport costs, smelter payable
metals and charges (see respective technical reports for
details).
For further information on this press
release, visit
www.osiskometals.com or
contact:
Robert Wares, CEO, Osisko Metals, tel.
514-940-0670 ext. 111
Email: info@osiskometals.com
www.osiskometals.com
Cautionary Statement Regarding
Forward-Looking Information
This news release contains "forward‐looking
information" within the meaning of the applicable Canadian
securities legislation that is based on expectations, estimates,
projections and interpretations as at the date of this news
release. The information in this news release about the Option; the
timing and ability of the Company to exercise the option (if at
all); the timing and ability of the Company and Glencore to execute
the Definitive Agreement (if at all); the results of any
exploration work completed by Osisko Metals on Gaspé Copper; the
significance (if any) of Gaspé Copper being a past producer and the
results of such past production; the ability of Osisko Metals (if
at all) to complete the required expenditures during the periods to
be specified in the Definitive Agreement; the timing and ability of
the Company to obtain regulatory approvals, including the approval
of the TSX Venture Exchange, in respect of the Option and the
acquisition of Gaspé Copper; and any other information herein that
is not a historical fact may be "forward-looking information".
Any statement that involves discussions with
respect to predictions, expectations, interpretations, beliefs,
plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as "expects",
or "does not expect", "is expected", "interpreted", "management's
view", "anticipates" or "does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking information and are
intended to identify forward-looking information.
This forward-looking information is based on
reasonable assumptions and estimates of management of the Company,
at the time such assumptions and estimates were made, and involves
known and unknown risks, uncertainties or other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others,
risks relating to the Option; the ability of the Parties to
negotiate and execute the Definitive Agreement; volatility in the
trading price of common shares of the Company; risks relating to
the ability of the Company to obtain required approvals; ability of
Osisko Metals to complete further exploration activities; property
interests; the results of exploration activities; risks relating to
mining activities; the global economic climate; metal prices;
dilution; environmental risks changes in the tax and regulatory
regime; community and non-governmental actions; and those risks set
out in the Company's public documents filed on SEDAR
(www.sedar.com) under Osisko Metals' issuer profile. Although the
forward-looking information contained in this news release is based
upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot guarantee shareholders
and purchasers of securities of the Company that actual results
will be consistent with such forward-looking information, as there
may be other factors that cause results not to be as anticipated,
estimated or intended, and neither Company nor any other person
assumes responsibility for the accuracy and completeness of any
such forward looking information. The Company does not undertake,
and assumes no obligation, to update or revise any such forward
looking statements or forward-looking information contained herein
to reflect new events or circumstances, except as may be required
by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
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