388 g/t Au over 2.2 Metres Lynx Main

135 g/t Au over 6.3 Metres in Lynx 4

TORONTO, Aug. 17, 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 39 intercepts in 17 drill holes (11 from surface, 6 from underground) and 10 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 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: “This week’s drill results demonstrate once again the strong continuity of the Windfall mineralization with high-grade intercepts in multiple different zones across the deposit, namely Lynx Main, Lynx 4, and Underdog. Expansion results continue to confirm that many zones remain open to growth, as demonstrated by hole OSK-W-21-2540-W1, which extends Triple Lynx 3163 wireframe 80 meters to the east.”

Selected high-grade intercepts include: 388 g/t Au over 2.2 metres in WST-21-0823; 135 g/t Au over 6.3 metres and 24.3 g/t Au over 5.2 metres in WST-21-0828; 187 g/t Au over 2.5 metres in WST-21-0763A; 113 g/t Au over 3.7 metres in OSK-W-21-2479-W5; 130 g/t Au over 2.9 metres and 38.8 g/t Au over 3.2 metres in OSK-W-21-2287-W3; 61.5 g/t Au over 3.0 metres in OSK-W-21-2544; and 41.5 g/t Au over 4.4 metres in OSK-W-21-2520. 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-17-12601067.41073.05.69.38 UDD_4123
Underdog
including1072.01073.01.023.8 
OSK-W-20-2283-W5826.0828.02.016.716.5TLX_3184
Triple Lynx
including826.8827.10.3101100
OSK-W-21-1432-W4938.0940.02.07.17 LX4_3437
Lynx 4
including938.5939.00.526.6 
OSK-W-21-1827-W5510.0512.42.417.3 CA2_2231
Caribou
including511.1511.70.660.9 
OSK-W-21-2287-W31229.81233.03.238.8 LX4_3449
Lynx 4
including1232.01233.01.098.5 
 1243.61246.52.913073.1LX4_3449
Lynx 4
including1245.31245.60.3324100
and1245.61245.90.3258100
OSK-W-21-2467564.0566.02.07.44 CA2_2232Caribou
 568.0570.22.251.247.9CA2_2232
Caribou
including568.5569.20.7111100
OSK-W-21-2470-W61057.01059.52.516.4 TLX_3170
Triple Lynx
including1058.01058.40.442.3 
OSK-W-21-2479-W6775.4777.52.15.14 UDD_4107Underdog
OSK-W-21-2512-W1772.0778.06.013.8 UDD_4104
Underdog
including772.0773.51.538.2 
OSK-W-21-2520813.7816.02.36.19 UDD_4121
Underdog
including814.4814.90.527.6 
 818.6823.04.441.530.8UDD_4121
Underdog
including818.6818.90.3257100
including821.0821.80.896.7 
 1089.01091.42.411.0 UDD_4911
Underdog
including1089.91090.70.832.2 
OSK-W-21-25311071.01076.05.05.83 UDD_4915Underdog
OSK-W-21-2537985.5988.12.618.1 TLX_3163
Triple Lynx
including987.5988.10.651.9 
 1057.71059.82.113.8 TLX_3170
Triple Lynx
including1058.91059.30.468.1 
OSK-W-21-2544795.0798.03.061.536.9TLX_3171
Triple Lynx
including795.0795.80.8192100
 818.0820.02.015.0 TLX_3184
Triple Lynx
including818.0819.01.029.3 
OSK-W-21-2554136.9139.22.34.75 F51_6008F-51
WST-20-0505A49.051.52.59.42 LXM_3339
Lynx
including50.250.80.638.8 
WST-21-0763A169.5172.02.518769.3LXM_3304
Lynx
including170.2171.10.9377100
WST-21-0802A390.0392.02.019.0 LSW_3556
Lynx SW
including390.0390.40.459.9 
 394.0396.02.06.37 LSW_3556Lynx SW
 408.0410.02.031.8 LSW_3556
Lynx SW
including408.8409.60.877.8 
WST-21-0823165.2167.42.238847.4LXM_3304
Lynx
including165.2165.50.32600100
WST-21-0828489.1494.35.224.323.3LX4_3430
Lynx 4
including493.4494.30.9106100
 520.0526.36.313548.5LX4_3440
Lynx 4
including521.6522.91.3303100
including525.0526.01.0380100

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, LSW = Lynx Southwest, TLX = Triple Lynx, CA2 = Caribou and UDD = Underdog.

Expansion Drilling

Hole No.From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to
100 g/t
ZoneCorridor
OSK-W-20-2437313.0315.02.05.89 CaribouCaribou
OSK-W-21-2479-W5728.0731.73.711339.3UDD
Underdog
including731.0731.70.7488100
OSK-W-21-2520935.7943.37.613.112.4UDD
Underdog
including938.6939.00.4114100
OSK-W-21-2532809.0815.26.29.91 UDD
Underdog
including809.0809.50.540.4 
including812.5813.10.635.4 
OSK-W-21-2540-W1966.0968.32.35.05 TLX_3163Triple Lynx
 969.9976.36.418.1 TLX_3163
Triple Lynx
including969.9970.50.657.8 
including974.5975.10.667.3 
OSK-W-21-2540-W2927.0929.42.414.1 TLX_3163
Triple Lynx
including927.0927.50.555.0 
OSK-W-21-2544859.9862.02.111.2 TLX_3198
Triple Lynx
including861.0861.40.434.4 
OSK-W-21-2549626.4628.42.05.73 CaribouCaribou
OSK-W-21-2559586.0588.02.06.70 Caribou
Caribou
including586.0587.01.013.2 
WST-21-0841286.0288.02.012.1 LSW
Lynx SW
including287.0288.01.023.7 

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. LSW = Lynx Southwest, TLX = Triple Lynx, UDD = Underdog.

Drill hole location

Hole NumberAzimuth (°)Dip (°)Length (m)UTM EUTM NElevationSection
OSK-W-17-1260329-49113445286554345683972875
OSK-W-20-2283-W5135-50104345299754356074253500
OSK-W-20-2437329-6263045259754343934012550
OSK-W-21-1432-W4132-55105345381154357794004300
OSK-W-21-1827-W5331-58116445250654343904032475
OSK-W-21-2287-W3116-53136845360754357144044075
OSK-W-21-2467331-5471745268554344744022675
OSK-W-21-2470-W6132-59111945330454356394153775
OSK-W-21-2479-W5344-5597845231554344193992325
OSK-W-21-2479-W6344-55101445231554344193992325
OSK-W-21-2512-W1331-54108945244854344654002475
OSK-W-21-2520337-56114045259654343924012550
OSK-W-21-2531344-62118845256654344154032550
OSK-W-21-2532341-60110745248054344284012475
OSK-W-21-2537114-54124345298154355494203450
OSK-W-21-2540-W1117-60105345346554356404103925
OSK-W-21-2540-W2117-60131445346554356404103925
OSK-W-21-2544128-50116145296154355294193425
OSK-W-21-2549332-5872345270354344554012675
OSK-W-21-2554131-5718945342654358584054000
OSK-W-21-2559327-5158945282954345503982850
WST-20-0505A183-4633145322754351251343475
WST-21-0763A120-395674535075435332-473800
WST-21-0802A149-6544845295354350032533175
WST-21-0823120-355454535075435332-473800
WST-21-0828123-426454535075435331-483800
WST-21-0841125-6543845310654350662313325

Caribou Zone
Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

Underdog
Mineralization most commonly occurs in gold-bearing quartz-pyrite (± tourmaline) veins and as disseminated, stringer, semi-massive to massive pyrite with minor sphalerite, chalcopyrite and molybdenite associated with strong sericite and silica alteration. Mineralization is hosted along the intrusive contacts of a three-phase composite felsic porphyritic unit which cross-cuts felsic and mafic volcanic sequences.

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.

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

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 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


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