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Osisko Infill Drilling Returns High Grade at Lynx

248 g/t Au Over 2.2 Metres

164 g/t Au over 2.2 Metres

TORONTO, June 08, 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.

Significant new analytical results presented below include 34 intercepts in 15 underground drill holes and 8 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021).

Osisko Chief Executive Officer John Burzynski commented: “Infill drilling in Lynx consistently delivers evenly distributed high-grade throughout the Lynx zones. Top results released today are all greater than an ounce per ton over two metres.”

Selected high-grade intercepts include: 248 g/t Au over 2.2 metres in WST-21-0750; 164 g/t Au over 2.2 metres in OSK-W-21-2492-W1, 128 g/t Au over 2.3 metres in OSK-W-21-2067-W6, 56.5 g/t Au over 2.9 metres in WST-21-0655 and 46.8 g/t Au over 2.6 metres in WST-21-0727A. 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
ZoneCorridor
OSK-W-21-2067-W61078.71080.82.14.77 TLX_3162Triple Lynx
 1095.71098.02.312819.0TLX_3170

Triple Lynx

including1095.71096.10.4725100
OSK-W-21-2275-W5909.0911.02.024.7 TLX_3129

Triple Lynx

including910.0911.01.047.6 
 918.0920.02.036.921.5TLX_3129

Triple Lynx

including918.9919.30.4177100
OSK-W-21-2478-W1583.0588.05.04.10 TLX_3178

Triple Lynx

including587.0588.01.013.1 
OSK-W-21-2478-W3901.0903.02.09.94 TLX_3161

Triple Lynx

including902.0903.01.019.8 
OSK-W-21-2487-W3674.3676.32.019.8 LX4_3414Lynx 4
OSK-W-21-2492-W1771.0773.22.216418.4LX4_3414

Lynx 4

including771.8772.20.4902100
OSK-W-21-2492-W2759.0762.03.04.22 LX4_3424

Lynx 4

including761.2762.00.814.7 
 794.0796.02.04.40 LX4_3414Lynx 4
OSK-W-21-2495-W1668.0670.02.028.0 LXM_3304

Lynx

including669.6670.00.460.5 
 675.3678.02.734.4 LXM_3304

Lynx

including675.3676.20.989.7 
WST-21-0653A362.0364.22.212.8 LXSW_3556

Lynx

including362.4363.20.833.3 
WST-21-0655299.0301.92.956.532.1Lynx SW

Lynx SW

including301.0301.90.9179100
WST-21-066485.288.02.834.725.2LXM_3307

Lynx

including85.285.90.7138100
 477.8479.92.111.0 LX4_3450

Lynx 4

including479.1479.90.824.8 
WST-21-0681290.0292.02.04.71 TLX_3131

Triple Lynx

including291.4292.00.615.0 
 321.0323.02.06.38 TLX_3167

Triple Lynx

including321.4321.80.431.5 
 482.0484.22.210.8 LX4_3450Lynx 4
WST-21-0705A243.3245.32.04.56 LXSW_3500

Lynx SW

including244.6245.30.713.0 
WST-21-071825.928.02.115.0 LXM_3303

Lynx

including26.727.30.647.4 
 88.790.72.026.7 LXM_3304

Lynx

including88.789.40.769.0 
WST-21-071988.790.72.017.0 LXM_3304

Lynx

including89.390.00.748.2 
WST-21-0727A260.1262.72.646.822.0TLX_3161

Triple Lynx

including261.2261.70.5229100
WST-21-0750232.6234.82.224855.6TLX_3161

Triple Lynx

including233.8234.30.5740100
WST-21-0755318.0320.02.04.92 TLX_3131

Triple Lynx

including319.2320.00.712.0 
WST-21-0757200.5202.72.221.9 LXSW_3506

Lynx

including201.0201.30.375.2 
 255.0257.02.011.3 TLX_3131

Triple Lynx

including256.3257.00.731.8 
 272.6275.02.44.69 TLX_3166Triple Lynx
 357.0359.52.534.819.4TLX_3165

Triple Lynx

including358.3358.70.4197100
WST-21-076298.3100.42.14.54 LXM_3311

Lynx

including98.799.40.711.6 
WST-21-0768281.0283.02.012.8 LXSW_3556

Lynx

including281.3281.60.377.7 
WST-21-0769268.0270.02.08.16 LXSW_3556

Lynx SW

including268.7269.60.917.9 
WST-21-0787489.0491.12.110.3 LX4_3450

Lynx 4

including490.3490.70.453.4 

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, TLX = Triple Lynx, and LXSW = Lynx Southwest.

Drill hole location

Hole NumberAzimuth
(°)
Dip
(°)
Length
(m)
UTM EUTM NElevationSection
OSK-W-21-2067-W6123-53128145324154356974163750
OSK-W-21-2275-W5127-49124245288854355834093400
OSK-W-21-2478-W1128-5476445299754356074253500
OSK-W-21-2478-W3128-54108045299754356074253500
OSK-W-21-2487-W3359-7376245413554350583974225
OSK-W-21-2492-W1122-5384345368754356764014125
OSK-W-21-2492-W2122-5387945368754356764014125
OSK-W-21-2495-W1123-54130145342654355654103850
WST-21-0653A155-6542745310454350652313325
WST-21-0655162-6340245310454350652313325
WST-21-0664140-5176045322954351271343475
WST-21-0681160-437214533225435235553600
WST-21-0705A161-5735145310454350652313325
WST-21-071816201004533595435195843625
WST-21-0719163-41004533595435194833625
WST-21-0727A146-693614535075435327-73800
WST-21-0750124-542804533575435273153650
WST-21-0755158-483584533565435272153650
WST-21-0757145-5070645322854351261353475
WST-21-0762136-6038145310554350652313325
WST-21-0768169-5345345310454350652313325
WST-21-0769171-4939645310354350642313325
WST-21-0787143-465174533205435235543600

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 3.0 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 Estimate (MRE) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), 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 are further described in the full technical report prepared by BBA Inc. 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 resources 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. The 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 2,700 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