Osisko Development Intersects 23.32 g/t Over 15.0 m on Island Mountain at Cariboo and Announces the Grant of Replacement Restricted Share Units

MONTREAL, June 02, 2021 (GLOBE NEWSWIRE) — Osisko Growth Corp. (“Osisko Growth” or the “Company”) (TSX.V-ODV) is happy to announce drilling outcomes from the 200,000-meter 2021 exploration and class conversion drill program marketing campaign at its Cariboo Gold Challenge (“Cariboo”) in central British Columbia. A complete of ten diamond drill rigs are at present at Cariboo.

Island Mountain Overview

• Mosquito Creek and Shaft Zone deposits are positioned on Island Mountain.
• Thus far in 2021, a complete of 133 drill holes have been drilled on Island Mountain, designed to infill and increase identified vein corridors.
• Current outcomes embody holes IM-21-001 to IM-21-010.
• A complete of 124 mineralized vein hall solids are modelled on Island Mountain, to a median depth of 350 meters, to a most depth of 700 meters and stay open.
• Current drill outcomes present vital down dip growth of modelled vein corridors illustrated in IM-21-009 that intersected 23.32 g/t Au over 15.0 meters.
• Detailed drilling outcomes, a drill gap location plan map and vertical lengthy part is offered on the finish of this launch.

Current Drilling Highlights:

• 21.94 g/t Au over 2.70 meters in gap IM-21-003
• 23.48 g/t Au over 2.30 meters in gap IM-21-004
• 5.24 g/t Au over 10.85 meters in gap IM-21-004
• 13.39 g/t Au over 4.10 meters in gap IM-21-005 together with
• 41.30 g/t Au over 1.30 meters
• 23.32 g/t Au over 15.00 meters in gap IM-21-009 together with
• 85.80 g/t Au over 1.00 meter and
• 118.50 g/t Au over 1.00 meter
• 16.83 g/t Au over 4.40 meters in gap IM-21-010 together with
• 73.40 g/t Au over 0.80 meter

Chris Lodder, President of Osisko Growth commented, “These first ten infill and growth drill holes from the Mosquito Creek Deposit are exhibiting the depth potential at Mosquito Creek and continuity between the Shaft and Mosquito deposits”.

Mineralized quartz veins on Cariboo are total sub-vertical dip and northeast strike. Vein corridors are outlined as a high-density community of mineralized quartz veins throughout the axis of the final folding occasion’s folds and hosted inside a brittle meta-sandstone or calcareous meta-sandstone. Vein corridors are modelled at a minimal thickness of two meters and common about 4.5 meters true width. Particular person mineralized veins inside these corridors have widths various from centimeters to a number of meters and strike lengths from just a few meters to over 50 meters. These corridors have been outlined from floor to a vertical depth averaging300 meters and stay open for growth at depth and alongside strike. Gold grades are intimately related to quartz vein-hosted pyrite in addition to pyritic, intensely silicified wall rock haloes in shut proximity to the veins.

True widths are estimated to be 60% to 75% of reported core size intervals. Intervals not recovered by drilling have been assigned zero grade. Prime cuts haven’t been utilized to excessive grade assays. Full assay highlights are offered in Desk 1, drill gap areas are listed in Desk 2.

Company Issues

Following the closing of the reverse takeover bid transaction by Osisko Gold Royalties Ltd (“Osisko Gold”) on November 25, 2020 which result in the launch of the Company and the switch of sure Osisko Gold workers to the Company on January 1st, 2021, Osisko Gold and the Company mutually agreed {that a} pro-rata portion of the excellent long-term fairness incentive compensation awarded by Osisko Gold to transferred workers within the type of restricted shares models can be borne by the Company.

The Boards of Administrators of Osisko Gold and the Company, agreed that Osisko Gold would cancel a pro-rata portion of the excellent restricted shares models awarded by Osisko Gold (“Osisko Gold RSUs”) to transferred workers and the Company would grant to such transferred workers restricted shares models (“Substitute RSUs”) in an equal worth as the worth of the Osisko Gold RSU cancelled by Osisko Gold; which values have been decided utilizing a 5-day quantity weighted common worth of the respective entity on the trade at a pre-determined reference date.

Accordingly, the Company is happy to announce that its Board of Administrators has authorized the grant and 404,240 Substitute RSUs have been granted to officers who held Osisko Gold RSUs that have been cancelled. The maturity date shall be the identical because the maturity date of the corresponding Osisko Gold RSUs so cancelled.

Determine 1: Cariboo deposit areas with drill areas is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/6930c326-9658-462b-a2c9-46cf55043db5

Determine 2: Mosquito Creek element space with drill intercept highlights is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/7668eaf1-826b-432d-8f40-536624c22b97

Determine 3: Mosquito Creek drill cross part is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/7a2046ad-fae3-4501-937f-e1003e4b435f

Certified Individuals

Per Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Initiatives, Maggie Layman, P.Geo. Vice President Exploration of Osisko Growth Corp., is a Certified Particular person and has ready, validated, and authorized the technical and scientific content material of this information launch.

High quality Assurance – High quality Management

As soon as obtained from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently saved on website at a secured facility in Wells, BC. Numbered safety tags are utilized to lab shipments for chain of custody necessities. High quality management (QC) samples are inserted at common intervals within the pattern stream, together with blanks and reference supplies with all pattern shipments to observe laboratory efficiency. The QAQC program was designed and authorized by Lynda Bloom, P.Geo. of Analytical Options Ltd.

Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and evaluation. The ALS facility is accredited to the ISO/IEC 17025 customary for gold assays and all analytical strategies embody high quality management supplies at set frequencies with established information acceptance standards. The whole pattern is crushed, and 250 grams is pulverized. Evaluation for gold is by 50g fireplace assay fusion with atomic absorption (AAS) end with a decrease restrict of 0.01 ppm and higher restrict of 100 ppm. Samples with gold assays better than 100 ppm are re-analyzed utilizing a 1,000g display metallic fireplace assay. A particular variety of samples are additionally analyzed utilizing a 48 multi-elemental geochemical bundle by a 4-acid digestion, adopted by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

About Osisko Growth Corp.

Osisko Growth Corp. is well-capitalized and uniquely positioned as a premier gold growth firm in North America to advance the Cariboo Gold Challenge and different Canadian and Mexican properties, with the target of turning into the subsequent mid-tier gold producer. The Cariboo Gold Challenge, positioned in central British Columbia, is Osisko Growth’s flagship asset with measured and indicated assets of 21.44 Mt at 4.6 Au g/t for a complete of three.2 million ounces of gold and inferred useful resource of 21.69 Mt at 3.9 Au g/t for a complete of two.7 million ounces of gold (see NI 43-101 Technical Report for useful resource October 5^th, 2020). The appreciable exploration potential at depth and alongside strike distinguishes the Cariboo Gold Challenge relative to different growth property as does the traditionally low, all-in discovery prices of US $19 per ounce. The Cariboo Gold Challenge is advancing via allowing as a 4,750 tonnes per day underground operation with a feasibility examine on observe for completion within the second half of 2021. Osisko Growth’s venture pipeline is complemented by potential near-term manufacturing focused from the San Antonio gold venture, positioned in Sonora Mexico and early exploration stage properties together with the Coulon Challenge and James Bay Properties positioned in Québec in addition to the Guerrero Properties positioned in Mexico. Osisko Growth started buying and selling on the TSX Enterprise Change beneath the image “ODV” on December 2, 2020.

Ahead-looking Statements

Sure statements contained on this press launch could also be deemed “ahead‐trying statements” throughout the that means of relevant Canadian and U.S. securities legal guidelines. These ahead‐trying statements, by their nature, require Osisko to make sure assumptions and essentially contain identified and unknown dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed or implied in these ahead‐trying statements. Ahead‐trying statements are usually not ensures of efficiency.  Phrases equivalent to “could”, “will”, “would”, “might”, “count on”, “consider”, “plan”, “anticipate”, “intend”, “estimate”, “proceed”, or the destructive or comparable terminology, in addition to phrases normally used sooner or later and the conditional, are meant to establish ahead‐trying statements. Data contained in ahead‐trying statements is predicated upon sure materials assumptions that have been utilized in drawing a conclusion or making a forecast or projection, together with administration’s perceptions of historic traits, present circumstances and anticipated future developments, outcomes of additional exploration work to outline and increase mineral assets, that vein corridors proceed to be outlined as a high-density community of mineralized quartz throughout the axis of the final folding occasion’s folds and hosted inside a brittle meta-sandstone or calcareous meta-sandstone and that the deposit stays open for growth at depth, in addition to different issues which might be believed to be acceptable within the circumstances. Osisko considers its assumptions to be affordable based mostly on data at present accessible, however cautions the reader that their assumptions concerning future occasions, lots of that are past the management of Osisko, could finally show to be incorrect since they’re topic to dangers and uncertainties that have an effect on Osisko and its enterprise. Such dangers and uncertainties embody, amongst others, dangers referring to the power of exploration actions (together with drill outcomes) to precisely predict mineralization; errors in administration’s geological modelling; the power of to finish additional exploration actions, together with drilling; property and royalty pursuits within the Cariboo gold deposit; the power of the Company to acquire required approvals; the outcomes of exploration actions; dangers referring to mining actions; the worldwide financial local weather; metallic costs; dilution; environmental dangers; and group and non-governmental actions and the responses of related governments to the COVID-19 outbreak and the effectiveness of such responses.

For added data with respect to those and different elements and assumptions underlying the ahead‐trying statements made on this information launch regarding Osisko Growth, see the Submitting Assertion accessible electronically on SEDAR (www.sedar.com) beneath Osisko Growth’s issuer profile. The ahead‐trying statements set forth herein regarding Osisko Growth mirror administration’s expectations as on the date of this information launch and are topic to alter after such date. Osisko Growth disclaims any intention or obligation to replace or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case, apart from as required by regulation.

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this information launch. No inventory trade, securities fee or different regulatory authority has authorized or disapproved the data contained herein.

Desk 1: Cariboo Gold Challenge Island Mountain 2021 Size Weighted Drill Gap Gold Composites

Desk 2: Drill Gap Places and Orientations