Osisko Windfall Drilling Intercept High Grade in Lynx

431 g/t Au over 4.7 metres

TORONTO, March 16, 2022 (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.

Significant new analytical results presented below include 50 intercepts in 27 drill holes (2 from surface, 25 from underground) and 8 wedges. The infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (

see Osisko news release dated January 10,


2022

). The expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “The Lynx infill and expansion drill programs continue to impress with respect to both high-grade and width. A third of today’s intercepts are greater than an ounce per ton gold and a third are greater than five meters in length. Drilling at Windfall remains focused on Lynx and other strategic areas.”

Selected high-grade intercepts include:

431 g/t Au over 4.7 metres

and

32.6 g/t Au over 3.4


metres

in WST-21-0929B;

187 g/t Au over 5.4 metres

in OSK-W-21-2601-W1;

103 g/t Au over 6.6 metres

in WST-21-0907;

65.5 g/t Au over 7.4 metres

in OSK-W-21-2605-W1;

45.2 g/t Au over 8.5 metres

in WST-21-0934;

22.1 g/t Au over 12.0 metres

in OSK-W-21-2613-W1;

116 g/t Au over 2.1 metres

in WST-21-0994;

36.0 g/t Au over 6.4 metres

in OSK-W-21-1949-W16;

42.1


g/t Au over 5.2 metres

in WST-21-0689A and

23.9 g/t Au over 5.6 metres

in OSK-W-21-2381-W3. Maps showing hole locations and full analytical results are available at


www.osiskomining.com


. Maps:

Long Section_All zones In EN 20220316

,

Long Section_All zones Ex EN 20220316

,

PR_EN_20220316_Surface

,

PR_EN_20220316_UG

.



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-21-1949-W16

624.7

631.1

6.4

36.0

22.6

LXM_3388


Lynx


including
629.6 630.0 0.4 298 100

and
630.0 630.4 0.4 116 100

OSK-W-21-2287-W12

1200.3

1202.5

2.2

14.3


LX4_3449


Lynx 4


including
1200.3 1201.2 0.9 31.8

OSK-W-21-2564-W1

742.0

744.1

2.1

33.9

25.9

TLX_3171


Triple Lynx


including
742.7 743.2 0.5 134 100

OSK-W-21-2605

1304.0

1306.0

2.0

7.18


LX4_3445

Lynx 4

OSK-W-21-2605-W1

1295.7

1303.1

7.4

65.5

25.0

LX4_3449


Lynx 4


including
1296.4 1296.8 0.4 754 100

and
1296.8 1297.7 0.9 142 100

OSK-W-21-2613-W1

980.0

982.9

2.9

7.04


TLX_3161


Triple Lynx


including
981.8 982.9 1.1 14.6


1116.0

1128.0

12.0

22.1

19.9

TLX_3160


Triple Lynx


including
1118.2 1119.0 0.8 132 100

and
1127.0 1128.0 1.0 68.0


1131.0

1133.0

2.0

5.13


TLX_3160

Triple Lynx

WST-21-0689A

217.8

223.0

5.2

42.1

24.7

TLX_3161


Triple Lynx


including
220.0 220.5 0.5 281 100

WST-21-0713

26.7

33.0

6.3

5.34


LXM_3303


Lynx


including
32.1 33.0 0.9 18.3

WST-21-0877

328.5

331.0

2.5

7.63


LSW_3556


Lynx SW


including
329.2 329.5 0.3 56.5

WST-21-0907

527.7

534.3

6.6

103

32.4

LX4_3401


Lynx 4


including
530.4 531.4 1.0 565 100

WST-21-0929B

550.4

553.8

3.4

32.6

12.7

LX4_3404


Lynx 4


including
553.0 553.3 0.3 326 100


564.8

569.5

4.7

431

62.6

LX4_3430


Lynx 4


including
564.8 565.6 0.8 293 100

and
565.6 566.4 0.8 2010 100

and
567.0 568.0 1.0 147 100

WST-21-0933A

331.0

333.5

2.5

4.76


TLX_3166

Triple Lynx


498.4

500.4

2.0

31.2

25.2

LX4_3450


Lynx 4


including
499.0 499.3 0.3 140 100

WST-21-0934

481.1

489.6

8.5

45.2

22.9

LX4_3430


Lynx 4


including
483.6 484.5 0.9 236 100

and
485.9 486.2 0.3 323 100

WST-21-0948

504.6

506.8

2.2

27.9

23.1

LX4_3409


Lynx 4


including
504.6 504.9 0.3 136 100

WST-21-0956

244.6

246.6

2.0

41.9


TLX_3121

Triple Lynx


251.0

253.3

2.3

40.5


TLX_3121


Triple Lynx


including
252.0 252.5 0.5 96.7

WST-21-0961

199.0

201.1

2.1

17.8


TLX_3161


Triple Lynx


including
199.7 200.4 0.7 52.1

WST-21-0964

484.0

486.0

2.0

3.87


LX4_3401

Lynx 4

WST-21-0967

219.5

221.8

2.3

9.91


TLX_3161


Triple Lynx


including
220.1 220.6 0.5 45.4

WST-21-0970

466.4

468.4

2.0

9.06


LX4_3430


Lynx 4


including
468.1 468.4 0.3 57.5


476.0

478.3

2.3

6.34


LX4_3444


Lynx 4


including
476.7 477.0 0.3 22.2

WST-21-0978A

315.4

317.6

2.2

20.4


TLX_3131


Triple Lynx


including
316.2 316.6 0.4 98.4

WST-21-0981

178.7

181.1

2.4

20.9


TLX_3161


Triple Lynx


including
178.7 179.0 0.3 65.7

WST-21-0991

328.0

330.0

2.0

40.5

35.8

LHW_3212


Lynx HW


including
328.5 329.2 0.7 114 100

WST-21-0994

181.3

183.4

2.1

116

40.7

TLX_3184


Triple Lynx


including
181.9 182.6 0.7 325 100

WST-21-0995

25.7

27.8

2.1

5.57


TLX_3161

Triple Lynx


30.9

33.0

2.1

7.46


TLX_3161

Triple Lynx

WST-21-0996A

194.6

200.3

5.7

6.65


TLX_3164


Triple Lynx


including
198.8 199.1 0.3 47.7


225.0

231.0

6.0

4.10


TLX_3169

Triple Lynx


381.0

383.0

2.0

4.18


TLX_3191


Triple Lynx


including
381.3 381.7 0.4 20.2

WST-21-0997

555.0

557.2

2.2

9.24


LX4_3404

Lynx 4

WST-22-1000

147.3

155.5

8.2

8.26


TLX_3161


Triple Lynx


including
150.3 150.8 0.5 44.8

WST-22-1002

250.0

252.0

2.0

20.7


LHW_3224


Lynx HW


including
251.0 252.0 1.0 41.4


268.0

270.0

2.0

3.63


LHW_3224

Lynx HW

WST-22-1007

199.4

201.7

2.3

9.11


TLX_3161


Triple Lynx


including
199.8 200.2 0.4 29.4

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

“Quality Control and Reporting Protocols”

below. LX4 = Lynx 4, LHW = Lynx Hanging Wall, LXM = Lynx Main, LSW = Lynx Southwest and TLX = Triple Lynx.



Expansion 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-21-2381-W3

919.0

921.0

2.0

4.28


TLX

Triple Lynx


959.8

962.7

2.9

12.9


TLX


Triple Lynx


including
961.5 961.9 0.4 51.0


997.0

1002.6

5.6

23.9


TLX_3158


Triple Lynx


including
997.0 997.4 0.4 50.6

OSK-W-21-2540-W5

1134.0

1136.0

2.0

22.8


TLX


Triple Lynx


including
1134.0 1135.1 1.1 41.3

OSK-W-21-2601-W1

1004.6

1010.0

5.4

187

71.8

TLX_3158


Triple Lynx


including
1005.4 1007.8 2.4 330 100

and
1008.3 1008.6 0.3 325 100

OSK-W-21-2647

1364.0

1366.5

2.5

16.6


TLX_3172


Triple Lynx


including
1365.0 1365.6 0.6 62.4

WST-21-0927

588.0

593.5

5.5

4.60


LX4


Lynx 4


including
588.0 588.7 0.7 25.6


650.3

661.0

10.7

5.79


LX4


Lynx 4


including
651.0 651.7 0.7 21.7

WST-21-0970

448.9

451.4

2.5

17.4


LX4


Lynx 4


including
449.9 450.5 0.6 65.0

WST-21-0992

242.1

244.2

2.1

11.8


LXM


Lynx


including
242.1 243.0 0.9 25.4

WST-21-0996A

359.0

362.1

3.1

4.21


TLX

Triple Lynx

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

“Quality Control and Reporting Protocols”

below., LXM = Lynx Main, LX4 = Lynx 4 and TLX = Triple Lynx.



Drill hole location


Hole No.

Azimuth

(°)

Dip (°)

Length

(m)

UTM E

UTM N

Elevation

Section

OSK-W-21-1949-W16
105 -57 1014 453440 5435479 401 3825

OSK-W-21-2287-W12
116 -53 1302 453607 5435714 404 4075

OSK-W-21-2381-W3
134 -53 1392 453620 5435790 402 4125

OSK-W-21-2540-W5
117 -60 1311 453465 5435640 410 3925

OSK-W-21-2564-W1
132 -50 1152 452960 5435539 419 3425

OSK-W-21-2601-W1
125 -61 1235 453425 5435657 413 3900

OSK-W-21-2605
112 -55 1401 453552 5435669 408 4025

OSK-W-21-2605-W1
112 -55 1380 453552 5435669 408 4025

OSK-W-21-2613-W1
114 -53 1152 452981 5435549 420 3450

OSK-W-21-2647
100 -61 1215 453525 5435704 405 4000

WST-21-0689A
161 -64 397 453356 5435272 16 3650

WST-21-0713
165 4 40 453359 5435194 84 3625

WST-21-0877
158 -60 490 453105 5435065 231 3325

WST-21-0907
130 -40 701 453375 5435297 -26 3675

WST-21-0927
146 -48 751 453321 5435235 54 3600

WST-21-0929B
115 -46 771 453506 5435327 -90 3800

WST-21-0933A
131 -52 733 453222 5435121 135 3450

WST-21-0934
119 -39 583 453507 5435332 -47 3800

WST-21-0948
136 -31 583 453374 5435296 -26 3675

WST-21-0956
134 -60 301 453508 5435328 -7 3800

WST-21-0961
163 -56 390 453507 5435327 -7 3800

WST-21-0964
127 -38 684 453374 5435297 -26 3675

WST-21-0967
160 -60 271 453506 5435327 -7 3800

WST-21-0970
117 -34 519 453507 5435333 -47 3800

WST-21-0978A
146 -49 702 453508 5435327 -7 3800

WST-21-0981
174 -51 258 453358 5435296 -149 3675

WST-21-0991
134 -29 391 453461 5435326 32 3775

WST-21-0992
120 -34 499 453507 5435333 -47 3800

WST-21-0994
197 -38 231 453357 5435296 -148 3675

WST-21-0995
149 -39 148 453440 5435223 -159 3700

WST-21-0996A
143 -45 427 453358 5435297 -149 3675

WST-21-0997
119 -45 640 453506 5435326 -90 3800

WST-22-1000
139 -45 447 453359 5435297 -149 3675

WST-22-1002
122 -36 341 453507 5435332 -48 3800

WST-22-1007
142 -36 183 453345 5435313 -67 3650


Lynx Zone


Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization 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), Director of Exploration for Osisko’s Windfall 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 3.5 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 Estimate (





MRE





) defined by Osisko, as disclosed in the news release dated January 10, 2022 is


supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project” dated February 10, 2022 (with an effective date  of October 21, 2021),


and assuming a cut-off grade of 3.50 g/t Au,


comprises 565,000 tonnes at 11.6 g/t Au (210,000 ounces) in the measured mineral resource category, 8,907,000 tonnes at 10.5 g/t Au (2,994,000 ounces) in the indicated mineral resource category and 13,035,000 tonnes at 8.6 g/t Au (3,585,000 ounces) in the inferred mineral resource category


. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the January 10, 2022, news release, certain of which are described in the January 10, 2022, news release, are further described in the full technical report for this updated mineral resource estimate in accordance with NI 43-101 and is 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


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 gold 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 2,500 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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