Osisko Metals Incorporated (the "
Company" or
"
Osisko Metals") (TSX-V: OM; OTCQX: OMZNF;
FRANKFURT: 0B51) is pleased to announce additional results from the
2023 drilling program at the Pine Point Mining Limited (“PPML”)
Joint Venture Project, located in the Northwest Territories,
Canada. The reported results are from the J68 and K68 deposits in
the C1 Area (C1) of the Central Zone.
Results from the K68 deposit indicate a new
extension of tabular-style mineralization towards the east of the
known deposit boundaries with localized increases in grade and
thickness suggesting that there is exploration potential for new
prismatic-style deposits in proximity to the C1 Area. Drilling at
J68 defined the limits of that prismatic deposit.
These results are positive as the Company
prepares for the Q1 2024 exploration program. Currently there are
geophysical surveys underway evaluating target areas for
prismatic-style mineralization that were outlined over the summer
months by the Joint Venture Exploration Team.
Highlights of Drill Hole Assay
Composites:
-
K68-23-PP-001: 10.00 metres grading, 7.20% Zn and
0.73% Pb (7.93 Zn+Pb)
-
K68-23-PP-009: 6.00 metres grading, 11.37% Zn and
0.54% Pb (11.91 Zn+Pb)
-
K68-23-PP-020: 8.00 metres grading, 9.44% Zn and 1.20%
Pb (10.63 Zn+Pb)
-
K68-23-PP-030: 10.00 metres grading, 5.20% Zn and 3.50
%Pb (8.71 Zn+Pb)
- K68-23-PP-064B:
7.00 metres grading, 9.97% Zn and 4.49% Pb (14.45
Zn+Pb)
Drilling was conducted as part of the PPML Joint
Venture’s larger 2023 definition drilling program designed to
achieve an average drill spacing of approximately 30 metres within
the currently modelled mineral resources reported in the 2022 PEA.
This spacing is intended to upgrade the resources presently
classified as Inferred to the Indicated category.
The Company would like to announce that as of
September, Mr. Robin Adair has stepped down as Vice President of
Exploration of Osisko Metals and has transitioned to Senior
Technical Advisor for the PPML Joint Venture (holder of the Pine
Point Project). The Company appreciates Mr. Adair’s significant
contribution over the years, and we will continue to collaborate
and benefit from his knowledge in his new role with PPML.
Table 1: Drill Hole Assay
Composites.
Hole Name |
Zone |
Deposit |
From |
To |
Drill Width |
True Width |
Zn |
Pb |
Zn+Pb |
(m) |
(m) |
(m) |
(m) |
% |
% |
% |
J68-23-PP-002 |
C1 |
J68 |
60.00 |
61.00 |
1.00 |
1.00 |
2.65 |
0.26 |
2.91 |
J68-23-PP-006 |
C1 |
J68 |
24.00 |
27.00 |
3.00 |
3.00 |
3.13 |
0.90 |
4.03 |
and |
C1 |
J68 |
33.00 |
35.00 |
2.00 |
2.00 |
2.41 |
0.33 |
2.73 |
J68-23-PP-007 |
C1 |
J68 |
18.00 |
20.00 |
2.00 |
2.00 |
2.17 |
0.60 |
2.77 |
and |
C1 |
J68 |
42.50 |
44.00 |
1.50 |
1.50 |
3.00 |
0.11 |
3.11 |
K68-23-PP-001 |
C1 |
K68 |
56.00 |
66.00 |
10.00 |
9.99 |
7.20 |
0.73 |
7.93 |
K68-23-PP-002 |
C1 |
K68 |
59.00 |
62.00 |
3.00 |
2.99 |
1.39 |
1.33 |
2.71 |
and |
C1 |
K68 |
66.00 |
67.00 |
1.00 |
1.00 |
2.01 |
1.84 |
3.85 |
K68-23-PP-003 |
C1 |
K68 |
51.00 |
52.00 |
1.00 |
1.00 |
6.69 |
0.51 |
7.20 |
and |
C1 |
K68 |
61.00 |
65.00 |
4.00 |
4.00 |
3.01 |
0.20 |
3.20 |
K68-23-PP-004 |
C1 |
K68 |
62.00 |
63.00 |
1.00 |
1.00 |
5.06 |
1.79 |
6.86 |
and |
C1 |
K68 |
65.00 |
66.00 |
1.00 |
1.00 |
3.70 |
0.12 |
3.82 |
K68-23-PP-006 |
C1 |
K68 |
59.00 |
65.00 |
6.00 |
5.99 |
2.23 |
1.15 |
3.37 |
K68-23-PP-007 |
C1 |
K68 |
59.00 |
64.00 |
5.00 |
4.99 |
4.55 |
0.15 |
4.69 |
K68-23-PP-008 |
C1 |
K68 |
61.00 |
63.00 |
2.00 |
2.00 |
4.24 |
0.85 |
5.09 |
K68-23-PP-009 |
C1 |
K68 |
60.00 |
66.00 |
6.00 |
5.99 |
11.37 |
0.54 |
11.91 |
K68-23-PP-010 |
C1 |
K68 |
56.50 |
57.00 |
0.50 |
0.50 |
1.79 |
1.03 |
2.83 |
K68-23-PP-011 |
C1 |
K68 |
64.00 |
67.00 |
3.00 |
3.00 |
6.70 |
0.67 |
7.38 |
K68-23-PP-014 |
C1 |
K68 |
60.00 |
65.00 |
5.00 |
4.99 |
5.92 |
0.98 |
6.91 |
K68-23-PP-017 |
C1 |
K68 |
58.00 |
62.00 |
4.00 |
3.99 |
1.57 |
1.77 |
3.34 |
K68-23-PP-018 |
C1 |
K68 |
57.00 |
65.00 |
8.00 |
7.98 |
5.13 |
0.73 |
5.86 |
K68-23-PP-019 |
C1 |
K68 |
68.00 |
69.00 |
1.00 |
1.00 |
1.58 |
1.25 |
2.83 |
K68-23-PP-020 |
C1 |
K68 |
54.00 |
62.00 |
8.00 |
7.99 |
9.44 |
1.20 |
10.63 |
and |
C1 |
K68 |
64.00 |
67.00 |
3.00 |
3.00 |
5.46 |
1.35 |
6.81 |
K68-23-PP-021 |
C1 |
K68 |
58.00 |
59.00 |
1.00 |
1.00 |
2.07 |
0.09 |
2.16 |
and |
C1 |
K68 |
61.00 |
62.00 |
1.00 |
1.00 |
1.84 |
0.25 |
2.08 |
and |
C1 |
K68 |
65.00 |
67.00 |
2.00 |
2.00 |
7.77 |
0.34 |
8.11 |
K68-23-PP-022 |
C1 |
K68 |
60.00 |
65.00 |
5.00 |
4.99 |
4.88 |
0.22 |
5.10 |
K68-23-PP-024 |
C1 |
K68 |
62.00 |
63.00 |
1.00 |
1.00 |
1.83 |
0.43 |
2.26 |
K68-23-PP-025 |
C1 |
K68 |
56.00 |
57.00 |
1.00 |
1.00 |
2.04 |
0.18 |
2.22 |
and |
C1 |
K68 |
59.00 |
67.00 |
8.00 |
7.99 |
4.24 |
0.50 |
4.74 |
K68-23-PP-026 |
C1 |
K68 |
57.00 |
63.00 |
6.00 |
5.99 |
4.17 |
1.20 |
5.37 |
K68-23-PP-026 |
C1 |
K68 |
67.00 |
71.00 |
4.00 |
3.99 |
6.86 |
0.43 |
7.29 |
K68-23-PP-028 |
C1 |
K68 |
54.00 |
58.00 |
4.00 |
3.99 |
10.11 |
0.92 |
11.03 |
and |
C1 |
K68 |
60.00 |
62.00 |
2.00 |
2.00 |
2.01 |
0.17 |
2.19 |
K68-23-PP-029 |
C1 |
K68 |
65.00 |
66.00 |
1.00 |
1.00 |
2.66 |
0.08 |
2.74 |
K68-23-PP-030 |
C1 |
K68 |
50.00 |
60.00 |
10.00 |
9.99 |
5.20 |
3.50 |
8.71 |
and |
C1 |
K68 |
62.00 |
64.00 |
2.00 |
2.00 |
5.64 |
0.32 |
5.96 |
K68-23-PP-031 |
C1 |
K68 |
57.00 |
58.00 |
1.00 |
1.00 |
1.98 |
0.34 |
2.32 |
K68-23-PP-033 |
C1 |
K68 |
66.00 |
70.00 |
4.00 |
3.99 |
2.31 |
1.43 |
3.74 |
K68-23-PP-034 |
C1 |
K68 |
64.00 |
65.00 |
1.00 |
1.00 |
5.45 |
0.46 |
5.91 |
K68-23-PP-035 |
C1 |
K68 |
52.00 |
59.00 |
7.00 |
6.99 |
3.71 |
0.45 |
4.16 |
K68-23-PP-038 |
C1 |
K68 |
53.00 |
56.00 |
3.00 |
3.00 |
4.31 |
7.27 |
11.59 |
K68-23-PP-039 |
C1 |
K68 |
61.00 |
62.00 |
1.00 |
1.00 |
4.58 |
2.37 |
6.95 |
K68-23-PP-040 |
C1 |
K68 |
53.00 |
54.00 |
1.00 |
1.00 |
2.21 |
0.37 |
2.58 |
K68-23-PP-041 |
C1 |
K68 |
48.00 |
52.00 |
4.00 |
4.00 |
3.27 |
0.22 |
3.49 |
and |
C1 |
K68 |
56.00 |
61.00 |
5.00 |
5.00 |
3.84 |
0.71 |
4.55 |
K68-23-PP-042 |
C1 |
K68 |
56.00 |
57.00 |
1.00 |
1.00 |
1.93 |
0.53 |
2.46 |
and |
C1 |
K68 |
63.56 |
65.00 |
1.44 |
1.44 |
3.17 |
0.46 |
3.63 |
K68-23-PP-044B |
C1 |
K68 |
57.00 |
59.00 |
2.00 |
2.00 |
1.95 |
0.57 |
2.52 |
and |
C1 |
K68 |
61.00 |
62.00 |
1.00 |
1.00 |
2.10 |
0.02 |
2.12 |
K68-23-PP-045 |
C1 |
K68 |
59.00 |
60.00 |
1.00 |
1.00 |
1.94 |
0.33 |
2.27 |
K68-23-PP-046 |
C1 |
K68 |
59.00 |
61.00 |
2.00 |
1.99 |
4.13 |
0.06 |
4.19 |
and |
C1 |
K68 |
67.00 |
68.00 |
1.00 |
1.00 |
3.30 |
0.19 |
3.49 |
K68-23-PP-048 |
C1 |
K68 |
58.00 |
59.00 |
1.00 |
1.00 |
1.93 |
0.13 |
2.05 |
and |
C1 |
K68 |
63.00 |
65.00 |
2.00 |
2.00 |
3.33 |
0.04 |
3.37 |
K68-23-PP-049 |
C1 |
K68 |
59.00 |
60.00 |
1.00 |
1.00 |
1.94 |
0.64 |
2.58 |
K68-23-PP-050 |
C1 |
K68 |
51.00 |
54.00 |
3.00 |
3.00 |
1.55 |
0.41 |
1.96 |
K68-23-PP-052 |
C1 |
K68 |
59.00 |
60.00 |
1.00 |
1.00 |
7.10 |
0.69 |
7.79 |
K68-23-PP-053 |
C1 |
K68 |
59.00 |
60.00 |
1.00 |
1.00 |
2.22 |
0.03 |
2.25 |
K68-23-PP-054 |
C1 |
K68 |
57.15 |
60.00 |
2.85 |
2.85 |
4.99 |
0.30 |
5.29 |
and |
C1 |
K68 |
62.00 |
64.00 |
2.00 |
2.00 |
9.69 |
7.69 |
17.37 |
K68-23-PP-055 |
C1 |
K68 |
61.00 |
66.00 |
5.00 |
4.99 |
3.93 |
0.22 |
4.15 |
K68-23-PP-056 |
C1 |
K68 |
61.00 |
66.00 |
5.00 |
4.99 |
14.92 |
4.31 |
19.23 |
K68-23-PP-057 |
C1 |
K68 |
66.00 |
69.00 |
3.00 |
2.99 |
17.18 |
19.71 |
36.89 |
K68-23-PP-058 |
C1 |
K68 |
64.00 |
68.00 |
4.00 |
3.99 |
8.90 |
1.76 |
10.66 |
K68-23-PP-060 |
C1 |
K68 |
53.00 |
54.00 |
1.00 |
1.00 |
1.95 |
0.06 |
2.00 |
and |
C1 |
K68 |
56.00 |
61.00 |
5.00 |
5.00 |
2.69 |
0.61 |
3.30 |
K68-23-PP-061 |
C1 |
K68 |
63.00 |
64.00 |
1.00 |
1.00 |
3.02 |
1.50 |
4.52 |
K68-23-PP-062 |
C1 |
K68 |
62.00 |
63.00 |
1.00 |
1.00 |
3.68 |
1.08 |
4.75 |
K68-23-PP-063 |
C1 |
K68 |
59.00 |
67.00 |
8.00 |
7.98 |
4.31 |
0.37 |
4.68 |
K68-23-PP-063B |
C1 |
K68 |
60.00 |
68.00 |
8.00 |
7.99 |
3.53 |
0.52 |
4.06 |
K68-23-PP-064 |
C1 |
K68 |
57.00 |
58.00 |
1.00 |
1.00 |
3.19 |
0.06 |
3.25 |
and |
C1 |
K68 |
63.00 |
68.00 |
5.00 |
4.99 |
10.84 |
1.43 |
12.27 |
K68-23-PP-064B |
C1 |
K68 |
63.00 |
70.00 |
7.00 |
6.99 |
9.97 |
4.49 |
14.45 |
K68-23-PP-065 |
C1 |
K68 |
54.00 |
65.00 |
11.00 |
10.99 |
4.96 |
0.71 |
5.67 |
K68-23-PP-066 |
C1 |
K68 |
61.00 |
65.00 |
4.00 |
3.99 |
6.13 |
0.22 |
6.36 |
K68-23-PP-068 |
C1 |
K68 |
62.00 |
67.00 |
5.00 |
4.99 |
5.53 |
1.43 |
6.97 |
K68-23-PP-069 |
C1 |
K68 |
59.00 |
66.00 |
7.00 |
6.99 |
5.36 |
0.48 |
5.85 |
and |
C1 |
K68 |
68.00 |
70.00 |
2.00 |
2.00 |
3.53 |
0.35 |
3.88 |
K68-23-PP-070 |
C1 |
K68 |
56.00 |
59.00 |
3.00 |
2.99 |
3.92 |
0.09 |
4.01 |
and |
C1 |
K68 |
62.00 |
64.00 |
2.00 |
2.00 |
3.97 |
0.33 |
4.31 |
K68-23-PP-071 |
C1 |
K68 |
64.00 |
65.00 |
1.00 |
1.00 |
1.78 |
0.23 |
2.01 |
K68-23-PP-072 |
C1 |
K68 |
59.00 |
62.00 |
3.00 |
3.00 |
5.41 |
1.74 |
7.15 |
K68-23-PP-073 |
C1 |
K68 |
56.00 |
61.00 |
5.00 |
5.00 |
5.84 |
2.06 |
7.90 |
Drill holes not reported in this table with a
collar location tabulated in Table 2 contained no significant assay
results.
Qualified Person
Mr. Robin Adair is the Qualified Person and the
Senior Technical Advisor for Pine Point Mining Limited. He is
responsible for the technical data reported in this news release
and is a Professional Geologist registered in the Northwest
Territories.
Quality Assurance / Quality
Control
Osisko Metals adheres to a strict QA/QC program
for core handling, sampling, sample transportation, and analyses.
Drill core samples from the Pine Point project area are securely
transported to its core facility on-site, where they are logged and
sampled. Samples selected for assay are shipped to ALS Canada
Ltd.'s preparation facility in Yellowknife. Pulps are analyzed at
the ALS Canada Ltd. facility in North Vancouver, BC. All samples
are analyzed by four acid digestion followed by both ICP-AES and
ICP-MS for a multi-element suite with a 1% upper detection limit
for base metals. Samples reporting over 1% for Zn and 1% for Pb are
analyzed by assay grade, four acid digestion, and ICP-AES analysis
with an upper detection limit of 30% and 20%, respectively. Samples
with Zn >30% and or Pb >20% are analyzed by traditional
titration.
Table 2: Drill Hole Collar Locations (NAD83
(CSRS) Zone 11).
Hole Name |
Zone |
Deposit |
Easting |
Northing |
Elev (m) |
Azimuth |
Dip |
Length (m) |
J68-23-PP-001 |
C1 |
J68 |
627313 |
6744288 |
211 |
0 |
-90 |
29 |
J68-23-PP-001B |
C1 |
J68 |
627313 |
6744288 |
211 |
0 |
-90 |
62 |
J68-23-PP-002 |
C1 |
J68 |
627262 |
6744258 |
211 |
0 |
-90 |
65 |
J68-23-PP-003 |
C1 |
J68 |
627291 |
6744250 |
211 |
0 |
-90 |
65 |
J68-23-PP-004 |
C1 |
J68 |
627263 |
6744212 |
211 |
0 |
-90 |
68 |
J68-23-PP-005 |
C1 |
J68 |
627234 |
6744217 |
211 |
0 |
-90 |
65 |
J68-23-PP-006 |
C1 |
J68 |
627185 |
6744088 |
210 |
0 |
-90 |
77 |
J68-23-PP-007 |
C1 |
J68 |
627222 |
6744042 |
211 |
0 |
-90 |
53 |
K68-23-PP-001 |
C1 |
K68 |
628073 |
6743959 |
213 |
0 |
-90 |
68 |
K68-23-PP-002 |
C1 |
K68 |
628046 |
6743975 |
213 |
0 |
-90 |
68 |
K68-23-PP-003 |
C1 |
K68 |
628045 |
6743941 |
213 |
0 |
-90 |
72 |
K68-23-PP-004 |
C1 |
K68 |
628037 |
6743911 |
213 |
0 |
-90 |
71 |
K68-23-PP-005 |
C1 |
K68 |
628012 |
6743894 |
213 |
0 |
-90 |
71 |
K68-23-PP-006 |
C1 |
K68 |
628014 |
6743931 |
213 |
0 |
-90 |
68 |
K68-23-PP-007 |
C1 |
K68 |
628010 |
6743960 |
213 |
0 |
-90 |
68 |
K68-23-PP-008 |
C1 |
K68 |
627996 |
6743988 |
213 |
0 |
-90 |
68 |
K68-23-PP-009 |
C1 |
K68 |
627967 |
6743973 |
213 |
0 |
-90 |
68 |
K68-23-PP-010 |
C1 |
K68 |
627981 |
6743944 |
213 |
0 |
-90 |
71 |
K68-23-PP-011 |
C1 |
K68 |
627983 |
6743912 |
213 |
0 |
-90 |
71 |
K68-23-PP-012 |
C1 |
K68 |
627982 |
6743884 |
213 |
0 |
-90 |
71 |
K68-23-PP-013 |
C1 |
K68 |
627951 |
6743900 |
213 |
0 |
-90 |
71 |
K68-23-PP-014 |
C1 |
K68 |
627951 |
6743930 |
213 |
0 |
-90 |
68 |
K68-23-PP-015 |
C1 |
K68 |
627935 |
6743989 |
213 |
0 |
-90 |
65 |
K68-23-PP-016 |
C1 |
K68 |
627902 |
6743979 |
212 |
0 |
-90 |
65 |
K68-23-PP-017 |
C1 |
K68 |
627909 |
6743949 |
213 |
0 |
-90 |
68 |
K68-23-PP-018 |
C1 |
K68 |
627919 |
6743921 |
213 |
0 |
-90 |
68 |
K68-23-PP-019 |
C1 |
K68 |
627923 |
6743892 |
213 |
0 |
-90 |
74 |
K68-23-PP-020 |
C1 |
K68 |
627889 |
6743910 |
213 |
0 |
-90 |
71 |
K68-23-PP-021 |
C1 |
K68 |
627861 |
6743898 |
213 |
0 |
-90 |
74 |
K68-23-PP-022 |
C1 |
K68 |
627849 |
6743924 |
213 |
0 |
-90 |
71 |
K68-23-PP-023 |
C1 |
K68 |
627872 |
6743970 |
213 |
0 |
-90 |
65 |
K68-23-PP-024 |
C1 |
K68 |
627847 |
6743953 |
213 |
0 |
-90 |
68 |
K68-23-PP-025 |
C1 |
K68 |
627803 |
6743866 |
213 |
0 |
-90 |
74 |
K68-23-PP-026 |
C1 |
K68 |
627797 |
6743895 |
213 |
0 |
-90 |
71 |
K68-23-PP-027 |
C1 |
K68 |
627789 |
6743924 |
212 |
0 |
-90 |
68 |
K68-23-PP-028 |
C1 |
K68 |
627769 |
6743943 |
212 |
0 |
-90 |
62 |
K68-23-PP-029 |
C1 |
K68 |
627761 |
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About Osisko Metals
Osisko Metals Incorporated is a Canadian
exploration and development company creating value in the critical
metals space, more specifically copper and zinc. The Company is a
joint venture partner with Appian Capital Advisory LLP for the
advancement of one of Canada's premier past-producing zinc mining
camps, the Pine Point Project, located in the Northwest
Territories, for which the 2022 PEA (as defined herein) has
indicated an after-tax NPV of C$602 million and an IRR of 25%,
based on long-term zinc price of US$1.37/lb and the current mineral
resource estimates that are amenable to open pit and shallow
underground mining. The current mineral resource estimate in the
2022 PEA consists of 15.7Mt grading 5.55% ZnEq of Indicated
Mineral Resources and 47.2Mt grading 5.94% ZnEq of Inferred Mineral
Resources. Please refer to the technical report entitled
"Preliminary Economic Assessment, Pine Point Project, Hay River,
Northwest Territories, Canada" dated August 26, 2022 (with an
effective date of July 30, 2022), which was prepared for Osisko
Metals and PPML by representatives of BBA Engineering Inc.,
HydroRessources Inc., PLR Resources Inc. and WSP Canada Inc. (the
"2022 PEA"). Please refer to the full text of the
2022 PEA, a copy of which is available on SEDAR (www.sedar.com)
under the Osisko Metals' issuer profile, for the assumptions,
methodologies, qualifications and limitations described therein.
The Pine Point Project is located on the south shore of Great Slave
Lake in the Northwest Territories, near infrastructure, with paved
highway access, an electrical substation, as well as 100 kilometres
of viable haulage roads.
In addition, the Company also acquired in July
2023, from Glencore Canada Corporation, a 100% interest in the
past-producing Gaspé Copper Mine, located near Murdochville in the
Gaspé peninsula of Québec. The Company is currently focused on
resource evaluation of the Mount Copper Expansion Project that
hosts an Inferred Mineral Resource (in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects)
of 456Mt grading 0.31% Cu (see April 28, 2022 news
release of Osisko Metals entitled "Osisko Metals Announces Maiden
Resource at Gaspé Copper – Inferred Resource of 456Mt Grading 0.31%
Copper"). Gaspé Copper hosts the largest undeveloped copper
resource in Eastern North America, strategically located near
existing infrastructure in the mining-friendly province of
Québec.
About Appian
Appian Capital Advisory LLP is a
London-headquartered investment advisor to long-term value-focused
private capital funds that invest solely in mining and
mining-related companies.
Appian is a leading investment advisor in the
metals and mining industry, with global experience across South
America, North America, Europe, Australia and Africa and a
successful track record of supporting companies to achieve their
development targets, with a global operating portfolio overseeing
nearly 6,300 employees. Appian has a global team of 65 experienced
professionals with presences in London, Toronto, Vancouver,
Montreal, New York, Lima, Belo Horizonte, Perth, Mexico City and
Dubai. The Appian team, through its private capital funds, has a
long history of successfully bringing mines through development and
into production, having completed 9 mine builds in the last 6
years.
For more information, please visit
www.appiancapitaladvisory.com, or find us on LinkedIn, Instagram
and Twitter.
For further information on this news
release, visit www.osiskometals.com
or contact:
Robert Wares, Chairman & CEO of Osisko Metals
Incorporated
Email: info@osiskometals.com www.osiskometals.com
Cautionary Statement on Forward-Looking
Information
This news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at
the date of this news release. Any statement that involves
predictions, expectations, interpretations, beliefs, plans,
projections, objectives, assumptions, future events or performance
are not statements of historical fact and constitute
forward-looking information. This news release may contain
forward-looking information pertaining to the closing of the Gaspe
Copper Project Definitive Agreement or the Pine Point Project. For
Pine Point, statements including, among other things, the results
of the 2022 PEA and the IRR, NPV and estimated costs, production,
production rate and mine life; the expectation that the Project
will be a robust operation and profitable at a variety of prices
and assumptions; the ability to identify additional resources and
reserves (if any) and exploit such resources and reserves on an
economic basis; the expected high quality of the Pine Point
concentrates; the potential impact of the Pine Point Project in the
Northwest Territories, including but not limited to the potential
generation of tax revenue and contribution of jobs; the Pine Point
Project having the potential for mineral resource expansion and new
discoveries; the timing and ability for the Pine Point Project to
reach construction decision (if at all(; the estimated costs to
take the Pine Point Project to construction decision (if at all);
the ability of the Company to realize the anticipated benefits of
the Transaction; and the impact to the Company of the disposition
of ownership interest and control in the Pine Point Project, which
is a material property of the Company. There can be no certainty on
the timing, costs and ability for the joint venture parties to take
the Pine Point Project to reach a construction decision or pursue
planned exploration and development as presently contemplated.
Forward-looking information is not a guarantee
of future performance and is based upon a number of estimates and
assumptions of management, in light of management's experience and
perception of trends, current conditions and expected developments,
as well as other factors that management believes to be relevant
and reasonable in the circumstances, including, without limitation,
assumptions about: favourable equity and debt capital markets; the
ability and timing for the parties to fund cash calls to advance
the development of the Pine Point Project and pursue planned
exploration and development; future prices of zinc and lead; the
timing and results of exploration and drilling programs; the
accuracy of mineral resource estimates; production costs; operating
conditions being favourable; political and regulatory stability;
the receipt of governmental and third party approvals; licenses and
permits being received on favourable terms; sustained labour
stability; stability in financial and capital markets; availability
of equipment; the economic viability of the Pine Point Project; and
positive relations with local groups. Forward-looking information
involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Factors that could cause actual
results to differ materially from such forward-looking information
are set out in the Company's public disclosure record on SEDAR
(www.sedar.com) under Osisko Metals' issuer profile. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
Neither the Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this news release. No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein.
A photo accompanying this announcement is
available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/838aa1fb-6f85-4f67-bf91-a698b0eaad1d
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