Osisko Infill Drilling Returns High Grade at Windfall

Including 22.3 g/t Au Over 15.9 Metres

TORONTO, Oct. 08, 2020 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Infill drilling is progressing very well, daily increasing our confidence in the continuity and prevalence of high-grade mineralization at Windfall. Today’s infill results contain 18 intercepts with uncut average grades of over half an ounce per tonne, including the spectacular 22.3 g/t Au over 15.9 metres, showing that Lynx not only has grade but can also deliver width.”

The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (

see Osisko news release


dated


February 19, 2020

). Significant new analytical results are presented below and include 67 intercepts in 26 drill holes and 8 wedges.

Selected high-grade intercepts from the new results include:

314 g/t Au over 3.0


metres

in OSK-W-20-2260-W1;

22.3 g/t Au over 15.9


metres

in OSK-W-20-2139-W10;

33.6 g/t Au over 9.8


metres

in OSK-W-20-2280-W1;

127 g/t Au over 2.3


metres

in OSK-W-20-2256;

97.8 g/t Au over 2.5


metres

in OSK-W-20-2292-W1; and

53.4 g/t Au over 2.1


metres

in OSK-W-20-2252-W4. Maps showing hole locations and full analytical results are available at

www.osiskomining.com



Infill




D




rilling


Hole No.

From


(m)

To (m)

Interval


(m)

Au (g/t)


uncut

Au (g/


t)


cut


to 100 g/t

Zone

Corridor

OSK-W-20-2139-W10

899.0

914.9

15.9

22.3


Lynx_371


Triple Lynx


including
907.1 907.6 0.5 80.2

941.9

944.0

2.1

17.4


Lynx_363

Triple Lynx

OSK-W-20-2197-W2

780.0

782.0

2.0

10.1


Lynx_363


Triple Lynx


including
780.8 781.7 0.9 22.1

OSK-W-20-2252-W2

826.0

828.0

2.0

4.03


Lynx_371

Triple Lynx

833.0

835.0

2.0

4.41


Lynx_371

Triple Lynx

OSK-W-20-2252-W4

880.5

882.6

2.1

53.4

33.2

Lynx_371


Triple Lynx


including
882.0 882.6 0.6 171 100

889.0

892.0

3.0

3.24


Lynx_361

Triple Lynx

902.0

904.0

2.0

41.5


Lynx_361


Triple Lynx


including
903.0 904.0 1.0 82.1

OSK-W-20-2256

852.8

855.0

2.2

44.4

19.7

Lynx_371


Triple Lynx


including
853.2 853.6 0.4 236 100

881.1

883.4

2.3

127

51.1

Lynx_361


Triple Lynx


including
882.2 882.8 0.6 390 100

894.0

896.2

2.2

4.63


Lynx_361

Triple Lynx

898.0

900.0

2.0

11.3


Lynx_361

Triple Lynx

978.9

982.9

4.0

4.44


Lynx_369


Triple Lynx


including
982.2 982.9 0.7 10.5

OSK-W-20-2256-W4

930.0

934.0

4.0

5.63


Lynx_364

Triple Lynx

963.0

965.0

2.0

19.3


Lynx_369


Triple Lynx


including
964.0 964.5 0.5 76.4

OSK-W-20-2260-W1

843.0

846.0

3.0

314

38


.0

Lynx_361


Triple Lynx


including
843.4 844.4 1.0 927 100

OSK-W-20-2272

613.0

615.0

2.0

3.45


Lynx_356

Lynx

OSK-W-20-2275

796.0

798.0

2.0

4.38


Lynx_365


Triple Lynx


including
796.0 796.6 0.6 11.3

837.0

839.2

2.2

23.4

22.8

Lynx_365


Triple Lynx


including
837.7 838.2 0.5 102 100

OSK-W-20-2280

1003.7

1006.3

2.6

4.94


Lynx_368


Triple Lynx


including
1003.7 1004.0 0.3 11.1

and
1004.0 1004.4 0.4 10.5

1025.9

1030.1

4.2

8.13


Lynx_363


Triple Lynx


including
1027.0 1027.5 0.5 25.5

1038.0

1040.0

2.0

3.76


Lynx_363


Triple Lynx


including
1039.4 1040.0 0.6 8.10

1067.0

1069.0

2.0

12.5


Lynx_364


Triple Lynx


including
1067.8 1068.1 0.3 52.1

1079.0

1081.0

2.0

4.09


Lynx_364

Triple Lynx

1088.7

1094.4

5.7

16.8

12.9

Lynx_369


Triple Lynx


including
1093.2 1093.5 0.3 173 100

1109.0

1111.0

2.0

4.64


Lynx_370

Triple Lynx

OSK-W-20-2280-W1

1006.0

1008.0

2.0

4.22


Lynx_368


Triple Lynx


including
1006.0 1007.0 1.0 8.08

1013.0

1016.0

3.0

4.82


Lynx_368

Triple Lynx

1021.9

1024.1

2.2

20.3


Lynx_363

Triple Lynx

1043.4

1047.6

4.2

27.7


Lynx_363


Triple Lynx


including
1043.7 1044.7 1.0 78.6

1080.8

1083.0

2.2

4.81


Lynx_364

Triple Lynx

1097.0

1106.8

9.8

33.6

27.6

Lynx_370


Triple Lynx


including
1102.0 1104.0 2.0 129 100

and
1106.5 1106.8 0.3 108 100

OSK-W-20-2288

624.4

633.9

9.5

12


.0


Lynx_356


Lynx


including
629.4 630.0 0.6 27.9

and
632.7 633.3 0.6 28.8

OSK-W-20-2292

852.0

854.0

2.0

3.87


Lynx_363


Triple Lynx


including
852.0 852.7 0.7 10.9

OSK-W-20-2292-W1

835.9

838.0

2.1

3.39


Lynx_361

Triple Lynx

840.0

843.5

3.5

3.65


Lynx_361


Triple Lynx


including
840.0 840.4 0.4 7.83

and
843.0 843.5 0.5 9.84

857.0

859.3

2.3

26


.0


Lynx_363


Triple Lynx


including
858.3 859.3 1.0 57.6

889.5

892.0

2.5

97.8

32.2

Lynx_364


Triple Lynx


including
890.3 891.1 0.8 305 100

OSK-W-20-2293

139.9

142.4

2.5

5.25


F17_6005


F-17


including
142.0 142.4 0.4 18.0

OSK-W-20-2297

128.0

131.0

3.0

29.3

24.2

F17_6003


F-17


including
128.0 128.4 0.4 138 100

166.5

168.8

2.3

5.82


F17_6005

F-17

OSK-W-20-2300

149.7

154.0

4.3

7.42


F17_6005


F-17


including
151.0 152.0 1.0 15.6

OSK-W-20-2312

126.0

128.0

2.0

7.26


Mallard_5200


Mallard


including
127.0 127.6 0.6 22.6

OSK-W-20-2315

127.0

129.0

2.0

5.59


Mallard_5200

Mallard

157.0

159.0

2.0

4.13


Mallard_5213

Mallard

OSK-W-20-2321

166.3

168.5

2.2

6.4


0


Mallard_5213


Mallard


including
167.2 167.8 0.6 21.2

OSK-W-20-2323

153.0

155.0

2.0

3.88


Mallard_5213


Mallard


including
154.7 155.0 0.3 24.1

OSK-W-20-2327

105.3

111.4

6.1

13.6


Mallard_5213


Mallard


including
109.0 110.0 1.0 48.9

WST-20-0135

72.0

74.3

2.3

4.2


0


Lynx_311


Lynx


including
73.9 74.3 0.4 14.6

WST-20-0318

65.0

68.5

3.5

36.2


Lynx_311


Lynx


including
66.0 66.7 0.7 91.0

WST-20-0389A

192.0

194.3

2.3

9.23


Lynx_341


Lynx


including
192.0 192.6 0.6 23.5

553.9

555.9

2.0

3.44


Lynx_340


Lynx


including
553.9 554.3 0.4 15.7

WST-20-0391A

91.6

94.1

2.5

6.21


Lynx_304


Lynx


including
93.4 94.1 0.7 17.6

98.3

100.5

2.2

3.47


Lynx_304

Lynx

WST-20-0392

82.8

84.8

2.0

8.12


Lynx_323


Lynx


including
83.4 83.8 0.4 26.3

88.0

90.2

2.2

5.49


Lynx_323

Lynx

107.0

109.7

2.7

11.2


Lynx_304


Lynx


including
108.4 108.8 0.4 70.9

WST-20-0393

48.9

51.5

2.6

4.68


Lynx_325


Lynx


including
50.0 50.7 0.7 10.2

113.2

115.9

2.7

5.34


Lynx_304


Lynx


including
114.3 114.8 0.5 18.8

WST-20-0402

142.1

144.4

2.3

25.8

14.3

Lynx_301


Lynx


including
142.1 142.4 0.3 189 100

WST-20-0409

85.4

87.4

2.0

3.37


Lynx_323

Lynx

WST-20-0412

97.6

99.9

2.3

9.21


Lynx_323


Lynx


including
99.6 99.9 0.3 48.5

WST-20-0421

87.6

90.0

2.4

3.87


Lynx_323


Lynx


including
88.2 88.5 0.3 28.3

151.0

153.2

2.2

4.96


Lynx_321


Lynx


including
152.3 153.2 0.9 11.2

WST-20-0423

101.0

103.7

2.7

5.56


Lynx_304

Lynx

109.0

112.0

3.0

9.95


Lynx_359

Lynx

WST-20-0424

115.0

117.0

2.0

8.3


Lynx_359


Lynx


including
116.0 117.0 1.0 15.4

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

“Quality Control and Reporting Protocols”

below.



Drill hole location


Hole


Number

Azimuth


(°)

Dip


(°)

Length


(m)

UTM E

UTM N

Elevation

Section

OSK-W-20-2139-W10
115 -52 1212 452980 5435549 420 3450

OSK-W-20-2197-W2
121 -48 1064 453087 5435526 417 3550

OSK-W-20-2252-W2
129 -54 1194 453241 5435694 415 3750

OSK-W-20-2252-W4
129 -54 1143 453241 5435694 415 3750

OSK-W-20-2256
125 -51 1179 453160 5435686 414 3675

OSK-W-20-2256-W4
125 -51 1122 453160 5435686 414 3675

OSK-W-20-2260-W1
127 -48 1140 453201 5435667 413 3700

OSK-W-20-2272
149 -45 1004 452967 5435265 412 3300

OSK-W-20-2275
127 -49 1094 452886 5435584 409 3400

OSK-W-20-2280
127 -58 1161 453304 5435639 415 3775

OSK-W-20-2280-W1
127 -58 1170 453304 5435639 415 3775

OSK-W-20-2288
146 -51 749 452875 5435181 409 3175

OSK-W-20-2292
125 -54 1059 453037 5435563 420 3525

OSK-W-20-2292-W1
125 -54 1149 453037 5435563 420 3525

OSK-W-20-2293
145 -44 183 452658 5435549 406 3175

OSK-W-20-2297
149 -47 180 452652 5435567 405 3175

OSK-W-20-2300
152 -45 192 452699 5435578 406 3225

OSK-W-20-2312
334 -51 192 451964 5434816 408 2225

OSK-W-20-2315
334 -52 192 451979 5434805 407 2225

OSK-W-20-2321
332 -51 176 451958 5434790 407 2200

OSK-W-20-2323
335 -49 171 451936 5434791 405 2175

OSK-W-20-2327
334 -49 132 451901 5434810 401 2150

WST-20-0135
187 -58 444 453226 5435125 134 3475

WST-20-0318
148 -52 502 453228 5435127 134 3475

WST-20-0389A
115 -46 616 453452 5435266 115 3725

WST-20-0391A
135 8 174 453359 5435209 155 3625

WST-20-0392
126 2 181 453359 5435209 155 3625

WST-20-0393
153 -37 175 453358 5435208 154 3625

WST-20-0402
147 32 162 453493 5435287 119 3775

WST-20-0409
155 21 169 453450 5435264 117 3725

WST-20-0412
164 24 165 453450 5435264 117 3725

WST-20-0421
162 16 168 453450 5435264 117 3725

WST-20-0423
134 -18 142 453359 5435209 154 3625

WST-20-0424
160 5 178 453358 5435208 155 3625


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.


F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.


Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.


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


. All NQ core assays reported 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, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (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 an Aqua Regia-ICP-AES 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 i


n


Eeyou


Istchee


James Bay


,


Québec, Canada. The mineral resource defined by Osisko, as disclosed in


the


news release


dated February 19, 2020


and supported by


the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township,


Eeyou


Istchee


James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020)


,


and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,20


6


,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,93


8


,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 19,2020 news


release


are


further described in the full technical report


prepared by


Micon


International Limited (”


Micon


“) and BBA Inc (“BBA”)


,


in accordance with NI 43-101


available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. 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


deformed


sub-vertical


zones


plunging to the northeast


.


V


ein-type or pyrite replacement-type styles of mineralization


crosscut


syn





volcanic


host rocks and syn-deformation


felsic porphyry intrusions


and are spatially associated with


the contacts of the


intrusi


ons.


The


deposit


is


well


defined


from


surface


to


a


depth


of


1,200


metres


and


remains


open along


strike


and


at


depth.


Mineralization


has


been


identified


30


metres


from


surface


in


some


areas


and


as


deep


as


2,000


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; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading a


n


inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; 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 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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