Osisko Infill Continues to Deliver With 342 g/t Au Over 2.5 Metres

TORONTO, March 01, 2021 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Infill drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Lynx continues to deliver with high-grade and width as we infill the mineral resource estimate (“MRE”) areas published earlier this month.”

The table below contains resource definition infill intercepts located inside defined February 2021 MRE blocks (

see Osisko news release dated February 17, 2021

). Significant new analytical results are presented below, including 80 intercepts in 21 drill holes (7 from surface, 14 from underground) and 26 wedges.

Select intercepts include:

342 g/t Au over 2.5 metres

in OSK-W-20-1432-W2;

37.7 g/t Au over 7.2 metres

in OSK-W-20-2283-W5;

56.4 g/t Au over 4.0 metres

,

18.3 g/t Au over 5.5 metres

and

45.3 g/t Au over 2.1 metres

in OSK-W-20-2256-W8;

79.8 g/t Au over 2.4 metres

in OSK-W-20-2397;

63.8 g/t Au over 2.4 metres

in OSK-W-20-2271-W6;

36.0 g/t Au over 2.7 metres

in WST-20-0548A;

42.2 g/t Au over 2.0 metres

in OSK-W-20-2280-W6; and

21.1 g/t Au over 4.0 metres

in OSK-W-20-2283-W4. Maps showing hole locations and full analytical results are available at

www.osiskomining.com



Infill Drilling


Hole No.

From

(m)

To

(m)

Interval

(m)

Au (g/t)

uncut

Au (g/t)



cut to

100 g/t

Zone

Corridor

OSK-W-20-1432-W2

959.5

962.0

2.5

342

72.1

LX4_3437


Lynx


including
960.2 961.0 0.8 596 100

OSK-W-20-2133-W4

966.4

969.0

2.6

3.85


TLX_3188

Triple Lynx

OSK-W-20-2170-W7

971.0

973.0

2.0

25.5


TLX_3163


Triple Lynx


including
971.0 972.0 1.0 41.1


995.0

997.5

2.5

4.18


TLX_3163

Triple Lynx


1051.0

1053.0

2.0

4.07


TLX_3162

Triple Lynx

OSK-W-20-2252-W5

901.0

903.0

2.0

3.30


TLX_3185

Triple Lynx

OSK-W-20-2252-W10

939.9

942.0

2.1

3.31


TLX_3163

Triple Lynx

OSK-W-20-2256-W8

872.5

877.0

4.5

4.39


TLX_3189

Triple Lynx


883.2

887.0

3.8

4.17


TLX_3161


Triple Lynx


including
886.0 886.5 0.5 8.68


888.5

890.5

2.0

7.73


TLX_3161


Triple Lynx


including
889.4 889.9 0.5 30.2


901.7

905.7

4.0

56.4

48.5

TLX_3161


Triple Lynx


including
901.7 902.2 0.5 139 100

and
903.0 903.5 0.5 125 100


907.7

913.2

5.5

18.3


TLX_3161


Triple Lynx


including
911.7 912.5 0.8 44.5


921.0

923.1

2.1

45.3


TLX_3161


Triple Lynx


including
922.1 923.1 1.0 92.7


961.0

966.3

5.3

13.4


TLX_3163


Triple Lynx


including
965.7 966.3 0.6 87.2


972.0

974.0

2.0

3.59


TLX_3163

Triple Lynx


1001.2

1003.6

2.4

13.8


TLX_3164


Triple Lynx


including
1002.2 1002.6 0.4 40.5

OSK-W-20-2271-W3

1093.0

1095.0

2.0

4.59


LX4_3440

Lynx

OSK-W-20-2271-W4

1085.0

1087.0

2.0

9.68


LX4_3418


Lynx


including
1085.0 1085.5 0.5 21.0

OSK-W-20-2271-W5

825.5

828.0

2.5

29.5

12.4

LXM_3317


Lynx


including
826.2 826.5 0.3 242 100


1177.2

1179.8

2.6

6.19


LX4_3430

Lynx

OSK-W-20-2271-W6

849.0

851.0

2.0

5.07


LXM_3345

Lynx


1131.6

1133.7

2.1

10.5


LX4_3434


Lynx


including
1132.7 1133.0 0.3 46.1


1135.6

1138.0

2.4

63.8

26.7

LX4_3434


Lynx


including
1137.3 1137.7 0.4 323 100

OSK-W-20-2280-W2

1096.4

1098.8

2.4

6.46


TLX_3170

Triple Lynx

OSK-W-20-2280-W6

916.0

918.1

2.1

3.88


TLX_3161


Triple Lynx


including
916.7 917.1 0.4 16.3


951.0

953.7

2.7

3.43


TLX_3180

Triple Lynx


956.0

958.0

2.0

3.64


TLX_3180

Triple Lynx


965.0

967.0

2.0

42.2


TLX_3180


Triple Lynx


including
966.0 967.0 1.0 82.8


1033.1

1036.0

2.9

4.53


TLX_3164


Triple Lynx


including
1033.4 1033.8 0.4 25.0


1062.6

1064.9

2.3

7.50


TLX_3162


Triple Lynx


including
1063.5 1064.3 0.8 20.5

OSK-W-20-2280-W7

1017.2

1019.6

2.4

4.06


TLX_3164

Triple Lynx

OSK-W-20-2280-W9

979.0

981.0

2.0

3.17


TLX_3180

Triple Lynx


985.0

987.0

2.0

4.84


TLX_3180


Triple Lynx


including
986.7 987.0 0.3 21.0


1020.0

1022.5

2.5

5.00


TLX_3183

Triple Lynx


1066.1

1069.0

2.9

5.01


TLX_3164


Triple Lynx


including
1066.1 1066.4 0.3 26.0


1082.0

1089.0

7.0

4.51


TLX_3162


Triple Lynx


including
1087.7 1088.1 0.4 22.2

OSK-W-20-2283-W3

787.0

789.0

2.0

5.52


TLX_3171


Triple Lynx


including
788.0 788.3 0.3 35.6


805.0

807.0

2.0

3.51


TLX_3184

Triple Lynx

OSK-W-20-2283-W4

792.0

796.0

4.0

21.1


TLX_3171

Triple Lynx


808.0

810.9

2.9

9.76


TLX_3184


Triple Lynx


including
809.1 810.0 0.9 19.6


921.0

926.0

5.0

5.16


TLX_3194


Triple Lynx


including
922.7 924.0 1.3 13.9

OSK-W-20-2283-W5

803.8

811.0

7.2

37.7


TLX_3171


Triple Lynx


including
807.7 809.0 1.3 76.5

OSK-W-20-2283-W7

840.0

847.0

7.0

10.4


TLX_3184


Triple Lynx


including
844.0 845.0 1.0 42.3


849.0

852.0

3.0

6.33


TLX_3184

Triple Lynx

OSK-W-20-2295-W4

882.0

884.3

2.3

26.8

21.5

TLX_3195


Triple Lynx


including
882.4 882.7 0.3 141 100

and
884.0 884.3 0.3 55.8

OSK-W-20-2313-W7

960.0

962.0

2.0

3.92


TLX_3193


Triple Lynx


including
960.7 961.4 0.7 11.0

OSK-W-20-2313-W8

827.8

830.0

2.2

3.82


TLX_3171


Triple Lynx


including
828.6 828.9 0.3 20.8

OSK-W-20-2322-W3

1138.0

1140.2

2.2

6.26


LX4_3430


Lynx


including
1139.6 1140.2 0.6 16.5

OSK-W-20-2346

978.0

980.0

2.0

12.1


LX4_3413

Lynx


1092.0

1094.1

2.1

3.83


LX4_3438

Lynx

OSK-W-20-2363

630.0

632.1

2.1

16.7


TLX_3178


Triple Lynx


including
630.4 630.9 0.5 62.2

OSK-W-20-2363-W1

955.0

957.0

2.0

7.28


TLX_3195

Triple Lynx

OSK-W-20-2375

887.3

890.0

2.7

9.19


LX4_3414


Lynx


including
888.3 889.0 0.7 31.4

OSK-W-20-2381-W1

1228.0

1230.0

2.0

8.54


LX4_3449


Lynx


including
1228.0 1228.7 0.7 24.3

OSK-W-20-2384

991.0

993.0

2.0

7.24


LX4_3430

Lynx


1000.5

1003.0

2.5

26.5

22.2

LX4_3430


Lynx


including
1001.2 1001.7 0.5 122 100


1013.0

1015.0

2.0

19.5


LX4_3430

Lynx

OSK-W-20-2385

755.0

757.3

2.3

17.0


LX4_3426


Lynx


including
755.0 756.0 1.0 38.1


776.0

778.0

2.0

31.2


LX4_3426


Lynx


including
777.0 777.5 0.5 98.0

OSK-W-20-2385-W1

778.7

781.0

2.3

6.32


LX4_3426


Lynx


including
779.2 779.6 0.4 24.3

OSK-W-20-2394

652.0

654.0

2.0

5.93


TLX_3184


Triple Lynx


including
652.4 652.8 0.4 17.7

OSK-W-20-2394-W1

642.8

645.0

2.2

14.5


TLX_3171


Triple Lynx


including
643.3 643.7 0.4 53.1

OSK-W-20-2397

660.8

664.4

3.6

11.1


LXM_3304


Lynx


including
660.8 661.4 0.6 43.3


667.5

669.9

2.4

79.8

41.9

LXM_3304


Lynx


including
668.2 669.1 0.9 201 100


676.9

679.1

2.2

20.5


LXM_3304


Lynx


including
678.1 678.6 0.5 82.9

WST-20-0492

116.9

119.2

2.3

22.3

17.6

LXM_3303


Lynx


including
116.9 117.3 0.4 127 100

WST-20-0524

81.9

86.2

4.3

3.58


LXM_3311

Lynx

WST-20-0548A

67.6

70.3

2.7

36.0


LXM_3339


Lynx


including
67.6 68.3 0.7 64.9

WST-20-0553

131.7

134.1

2.4

8.67


LXM_3303


Lynx


including
132.3 132.8 0.5 33.0

WST-20-0570

70.7

72.7

2.0

8.74


LXM_3361


Lynx


including
70.7 71.7 1.0 16.9


274.1

276.1

2.0

6.79


LXSW_3556


Lynx SW


including
274.1 275.0 0.9 13.0

WST-20-0571

394.4

396.5

2.1

10.3


LXSW_3502


Lynx SW


including
395.8 396.1 0.3 60.1

WST-20-0572A

285.0

287.0

2.0

6.39


LXSW_3556


Lynx


including
286.0 287.0 1.0 12.6

WST-20-0577A

75.0

77.5

2.5

12.9


LXM_3303


Lynx


including
75.8 76.7 0.9 35.6

WST-20-0582

129.5

131.5

2.0

9.97


LXM_3339

Lynx

WST-20-0583

117.0

119.0

2.0

3.80


LXM_3307


Lynx


including
118.5 119.0 0.5 8.03

WST-20-0592

129.8

132.0

2.2

4.61


LXM_3303


Lynx


including
130.3 131.0 0.7 13.1

WST-20-0593

118.9

121.4

2.5

4.63


LXM_3303


Lynx


including
118.9 119.9 1.0 11.5

WST-20-0611

262.7

265.2

2.5

26.8


TLX_3161


Triple Lynx


including
262.7 263.6 0.9 66.9

WST-20-0628

112.1

114.5

2.4

6.47


LXM_3334


Lynx


including
113.0 113.5 0.5 18.0

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See

“Quality Control and Reporting Protocols”

below. SW = Southwest.



Drill hole location


Hole Number

Azimuth (°)

Dip (°)

Length (m)

UTM E

UTM N

Elevation

Section

OSK-W-20-1432-W2
132 -55 993 453811 5435779 400 4300

OSK-W-20-2133-W4
118 -49 987 453080 5435531 417 3525

OSK-W-20-2170-W7
128 -59 1205 453425 5435657 413 3900

OSK-W-20-2252-W5
129 -54 1092 453241 5435694 415 3750

OSK-W-20-2252-W10
129 -54 824 453241 5435694 415 3750

OSK-W-20-2256-W8
125 -51 1056 453160 5435686 411 3675

OSK-W-20-2271-W3
120 -53 1235 453462 5435683 410 3950

OSK-W-20-2271-W4
120 -53 1134 453462 5435683 410 3950

OSK-W-20-2271-W5
120 -53 1247 453462 5435683 410 3950

OSK-W-20-2271-W6
120 -53 1232 453462 5435683 410 3950

OSK-W-20-2280-W2
127 -58 1211 453304 5435639 415 3775

OSK-W-20-2280-W6
127 -58 1152 453304 5435639 415 3775

OSK-W-20-2280-W7
127 -58 1131 453304 5435639 415 3775

OSK-W-20-2280-W9
127 -58 1037 453304 5435639 415 3775

OSK-W-20-2283-W3
135 -50 1004 452997 5435607 425 3500

OSK-W-20-2283-W4
135 -50 1012 452997 5435607 425 3500

OSK-W-20-2283-W5
135 -50 1043 452997 5435607 425 3500

OSK-W-20-2283-W7
135 -50 1049 452997 5435607 425 3500

OSK-W-20-2295-W4
132 -51 1082 452933 5435473 415 3375

OSK-W-20-2313-W7
134 -52 1086 452965 5435583 420 3450

OSK-W-20-2313-W8
134 -52 1098 452965 5435583 420 3450

OSK-W-20-2322-W3
130 -54 1274 453608 5435715 403 4075

OSK-W-20-2346
130 -53 1161 453397 5435557 413 3825

OSK-W-20-2363
139 -52 1031 452930 5435548 419 3425

OSK-W-20-2363-W1
139 -52 1059 452930 5435548 419 3425

OSK-W-20-2375
122 -56 1160 453810 5435779 400 4300

OSK-W-20-2381-W1
134 -53 1274 453620 5435791 402 4125

OSK-W-20-2384
127 -52 1164 453397 5435557 413 3825

OSK-W-20-2385
125 -54 873 453687 5435679 401 4150

OSK-W-20-2385-W1
125 -54 937 453687 5435679 401 4150

OSK-W-20-2394
138 -52 864 452922 5435468 415 3375

OSK-W-20-2394-W1
138 -52 645 452922 5435468 415 3375

OSK-W-20-2397
131 -58 1197 453451 5435594 412 3900

WST-20-0492
158 -7 142 453256 5435209 97 3525

WST-20-0524
182 -44 243 453104 5435064 231 3325

WST-20-0548A
166 -59 370 453227 5435126 134 3475

WST-20-0553
148 -28 224 453257 5435209 96 3525

WST-20-0570
159 -50 454 453104 5435065 231 3325

WST-20-0571
167 -55 465 453104 5435065 231 3325

WST-20-0572A
136 -51 463 452955 5435004 252 3175

WST-20-0577A
117 -55 196 453316 5435167 124 3575

WST-20-0582
176 -56 144 453177 5435125 173 3425

WST-20-0583
176 -50 129 453177 5435125 173 3425

WST-20-0592
137 -26 205 453257 5435209 96 3525

WST-20-0593
149 -16 202 453257 5435209 96 3525

WST-20-0611
118 -63 378 453358 5435273 16 3650

WST-20-0628
150 -31 164 453321 5435235 55 3600


Lynx Zone


Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.


Qualified Person



The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).


Quality Control and Reporting Protocols



True


width


determination


is


estimated


at


55-80%


of


the


reported


core


length


interval


for


the


zone.


Assays


are


uncut


except


where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.


About the Windfall Gold Deposit



The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and assuming a cut-off grade of 3.50 g/t Au,


comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category


. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs


in


three


principal


zones:


Lynx,


Main Zone,


and


Underdog.


Mineralization is generally


comprised of


sub-vertical


zones


following


intrusive porphyry


contacts


plunging


to


the


northeast.


The r


esources are defined from


surface


to


a


depth


of


1,600


metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres.


T


he deposit


remains


open along


strike


and


at


depth


.


Mineralization


has


been


identified


at


surface


in


some


areas


and


as


deep


as


2,625


metres in others with significant potential to extend mineralization down-plunge and at


depth.


About Osisko Mining Inc.



Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau


in


Québec


and


holds


a


100%


undivided


interest


in


a


large


area


of


claims


in


the


surrounding


Urban


Barry


area and nearby Quévillon area (over 2,700 square


kilometres).


Cautionary Note 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. Any statement that involves 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”, “potential”, “feasibility”, “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 news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. 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, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation 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 Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko 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.


CONTACT INFORMATION:


John Burzynski

Chief Executive Officer

Telephone (416) 363-8653



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