96.7 g/t Au Over 2.2 Metres in Triple Lynx

97.4 g/t Au Over 2.0 Metres in Underdog

TORONTO, July 20, 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 96 intercepts in 25 drill holes (7 from surface, 18 from underground) and 20 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: “The drill program at Windfall continues to deliver positive results. Both headline holes are infill holes from two different zones. Further, the first two intervals in hole OSK-W-21-2123-W5 extended Lynx 4 wireframe-3170 25 meters to depth and the third interval is in an adjacent area currently being modelled. Expansion drilling in the Triple Lynx corridor following up on hole OSK-W-20-2371-W1 which intersected 123 g/t Au over 2.4 meters (see Osisko news release dated April 8, 2021) successfully intercepted this new zone with the last interval in hole OSK-W-21-2275-W7. All these results will be included in the resource estimate update by the end of the year”.

Selected high-grade intercepts include: 96.7 g/t Au over 2.2 metres and 29.3 g/t Au over 5.2 metres in WST-21-0824; 49.9 g/t Au over 4.0 metres in OSK-W-21-2503-W1; 97.4 g/t Au over 2.0 metres in OSK-W-21-2512-W1; 69.9 g/t Au over 2.4 metres in OSK-W-21-2522; 67.0 g/t Au over 2.1 metres in WST-21-0791; 28.7 g/t Au over 4.1 metres in WST-21-0797A; 51.9 g/t Au over 2.2 metres in OSK-W-21-2512. 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) uncutAu (g/t) cut to 100 g/tZoneCorridor
OSK-W-21-1827-W5520.7523.02.36.06 Caribou_2241
Caribou
including520.7521.71.013.4 
OSK-W-21-1882-W4452.0454.02.04.47 Caribou_2232
Caribou
including453.4454.00.614.1 
 790.9793.02.16.17 UDD_4100
Underdog
including791.2791.50.332.4 
OSK-W-21-2067-W91048.01050.02.010.1 TLX_3183Triple Lynx
 1069.01071.02.06.57 TLX_3163Triple Lynx
 1107.61111.53.95.52 TLX_3162
Triple Lynx
including1110.71111.10.411.9 
 1114.31116.92.66.47 TLX_3170
Triple Lynx
including1115.11115.60.516.0 
 1122.01124.02.012.3 TLX_3170
Triple Lynx
including1123.01123.50.526.1 
 1126.31133.06.79.09 TLX_3170
Triple Lynx
including1126.61127.00.428.0 
and1129.01130.01.024.7 
OSK-W-21-2275-W7793.0795.22.213.2 TLX_3171
Triple Lynx
including794.2794.50.337.1 
OSK-W-21-2363-W5700.0702.02.03.67 TLX_3177
Triple Lynx
including700.6701.40.89.11 
 760.0762.02.05.15 TLX_3171
Triple Lynx
including760.5761.00.519.7 
OSK-W-21-2478-W5880.8883.52.76.94 TLX_3184
Triple Lynx
including880.8881.10.338.8 
 984.0986.02.011.3 TLX_3193
Triple Lynx
including985.0985.30.371.4 
OSK-W-21-2479-W5956.2958.52.314.2 UDD_4910
Underdog
including956.2956.50.338.4 
 964.1966.32.25.69 UDD_4514
Underdog
including965.7966.30.620.2 
OSK-W-21-2492-W4886.0888.02.04.55 LX4_3417Lynx 4
OSK-W-21-2495-W1652.2654.52.34.20 LXM_3304
Lynx
including652.2652.70.512.3 
OSK-W-21-2503-W1978.0982.04.049.945.2TLX_3163
Triple Lynx
including978.4979.10.7127100
 1002.91005.02.15.90 TLX_3164
Triple Lynx
including1004.61005.00.426.8 
OSK-W-21-2503-W2995.0997.02.05.99 TLX_3163Triple Lynx
 1025.81028.02.29.54 TLX_3164Triple Lynx
 1080.01082.02.037.118.1TLX_3162
Triple Lynx
including1080.71081.00.3227100
 1084.41088.03.65.14 TLX_3162
Triple Lynx
including1084.41084.80.422.5 
OSK-W-21-2512735.8738.02.251.926.4UDD_4104
Underdog
including736.2736.70.5212100
OSK-W-21-2512-W1765.0767.02.097.450.1UDD_4104
Underdog
including766.0767.01.0195100
 992.8994.82.012.2 UDD_4910
Underdog
including993.9994.80.925.7 
OSK-W-21-2520878.0880.02.04.05 UDD_4100
Underdog
including878.9879.40.515.3 
OSK-W-21-25221003.51005.92.469.939.8LX4_3430
Lynx 4
including1003.91004.60.7203100
OSK-W-21-2528224.8227.22.44.90 Caribou_2100Caribou
OSK-W-21-2531619.7621.92.24.64 Caribou_2233
Caribou
including621.5621.90.422.1 
OSK-W-21-2532512.0514.02.010.6 Caribou_2241
Caribou
including512.0512.40.440.5 
WST-21-0759127.9130.02.110.5 LXM_3334Lynx
 337.0341.64.66.33 TLX_3167
Triple Lynx
including340.7341.20.513.5 
 588.0590.12.125.6 LX4_3427Lynx 4
 663.5665.52.034.925.7LX4_3438
Lynx 4
including665.0665.50.5137100
WST-21-0770529.4531.42.07.80 LX4_3430Lynx 4
WST-21-079197.9101.63.74.57 LXM_3313Lynx
 163.0165.02.013.3 LXM_3304
Lynx
including163.0163.90.929.2 
 167.5169.82.314.8 LXM_3304
Lynx
including169.3169.80.542.0 
 298.8301.22.44.80 LHW_3215
Lynx HW
including299.6300.30.716.0 
WST-21-0792169.5172.02.55.69 LXM_3304
Lynx
including169.5170.30.811.8 
 296.1298.32.223.2 LHW_3215
Lynx HW
including296.1297.11.048.8 
WST-21-0793A167.0169.02.07.65 LXM_3304
Lynx
including167.3167.70.428.5 
 240.6242.62.04.99 LHW_3221
Lynx HW
including241.5242.30.811.4 
WST-21-0794282.0284.02.06.73 LHW_3215Lynx HW
 290.0292.02.04.11 LHW_3215
Lynx HW
including291.3291.70.419.9 
WST-21-0797A125.6127.62.045.523.9LXM_3334
Lynx
including126.3126.70.4208100
 335.3341.46.115.5 TLX_3131
Triple Lynx
including339.3340.31.035.5 
 350.6354.74.128.725.2TLX_3167
Triple Lynx
including353.8354.20.4136100
 357.0359.02.04.51 TLX_3167Triple Lynx
WST-21-0801287.3289.92.621.3 Lynx SWLynx SW
WST-21-0807325.4327.82.43.74 TLX_3167Triple Lynx
 480.8483.02.225.1 LX4_3450
Lynx 4
including481.8482.50.772.1 
WST-21-081669.071.42.44.88 Z27_1115Zone 27
WST-21-081867.769.92.25.79 Z27_1115Zone 27
WST-21-082262.464.42.06.39 Z27_1102Zone 27
 117.6119.82.216.214.2Z27
Zone 27
including118.5118.80.3114100
WST-21-0824261.6263.82.296.727.1TLX_3161
Triple Lynx
including262.3262.80.5406100
 273.8279.05.229.3 TLX_3161
Triple Lynx
including275.0276.01.089.0 
 283.5285.52.03.59 TLX_3161Triple Lynx
WST-21-0829149.0152.13.15.66 LXM_3334Lynx
WST-21-0838344.0346.02.04.30 LSW_3556Lynx SW

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. Z27 = Zone 27, LSW = Lynx Southwest, LXM = Lynx Main, LX4 = Lynx 4, LHW = Lynx Hanging Wall, TLX = Triple Lynx and UDD = Underdog.

Expansion Drilling

Hole No.From (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/tZoneCorridor
OSK-W-21-1432-W3950.0952.52.537.532.7Lynx 4
Lynx
including951.0951.50.5124100
OSK-W-21-1827-W41024.31026.52.24.14 Underdog
Underdog
including1024.31024.60.320.0 
OSK-W-21-2067-W8996.0999.03.04.34 Triple LynxTriple Lynx
OSK-W-21-2123-W51220.01222.02.05.99 Triple Lynx
Triple Lynx
including1220.01220.50.520.2 
 1233.01235.02.04.61 Triple LynxTriple Lynx
 1293.31295.72.49.77 Triple Lynx
Triple Lynx
including1294.71295.71.019.8 
OSK-W-21-2123-W61091.01093.02.06.76 Triple LynxTriple Lynx
 1144.01146.02.03.78 Triple LynxTriple Lynx
 1176.01178.02.06.57 Triple Lynx
Triple Lynx
including1177.31177.60.343.2 
OSK-W-21-2275-W7766.9769.02.13.55 Triple Lynx
Triple Lynx
including766.9767.20.324.5 
 782.5785.02.55.95 Triple Lynx
Triple Lynx
including783.1783.60.514.1 
and784.5785.00.514.6 
 862.0864.02.05.04 Triple Lynx
Triple Lynx
including862.5862.90.413.4 
and863.7864.00.312.6 
 1113.41115.62.29.82 Triple LynxTriple Lynx
OSK-W-21-2287-W21259.01261.02.04.68 Lynx 4Lynx
OSK-W-21-2470-W51166.01168.22.27.34 Triple Lynx
Triple Lynx
including1166.51167.61.114.6 
OSK-W-21-2479-W5475.0477.02.03.79 Z27Zone 27
 842.0844.02.08.61 Underdog
Underdog
including842.5843.30.821.4 
OSK-W-21-2503-W2981.0983.12.14.27 Triple LynxTriple Lynx
 1040.01042.02.03.83 Triple LynxTriple Lynx
OSK-W-21-2512-W11009.01011.02.043.024.6Underdog
Underdog
including1009.61010.00.4192100
OSK-W-21-2522-W1849.0851.02.03.76 LynxLynx
OSK-W-21-2528283.0285.02.04.97 Caribou
Caribou
including284.3285.00.713.4 
 526.0528.02.03.85 Z27Zone 27
OSK-W-21-2533252.0254.02.05.39 F51F51
WST-21-0682B400.0403.83.811.9 Lynx SWLynx SW
WST-21-0724264.6266.72.13.98 Triple Lynx
Triple Lynx
including266.2266.70.516.6 
WST-21-0726431.5433.72.23.97 Triple Lynx
Triple Lynx
including432.3432.70.419.3 
WST-21-0770545.4547.52.16.94 Lynx 4
Lynx
including546.4546.90.518.5 
WST-21-0791237.9240.02.167.023.9Lynx HW
Lynx
including237.9238.40.5281100
WST-21-0793A235.5237.62.13.71 Lynx HW
Lynx
including236.4237.30.97.71 
WST-21-0797A182.9185.52.64.04 LynxLynx
 380.2382.42.235.924.2Triple Lynx
Triple Lynx
including382.1382.40.3186100
WST-21-0829359.6363.03.46.81 Triple Lynx
Triple Lynx
including362.0363.01.015.5 

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. SW = Southwest, HW = Hanging Wall, Z27 = Zone 27.

Drill hole location

Hole NumberAzimuth (°)Dip (°)Length (m)UTM EUTM NElevationSection
OSK-W-21-1432-W3132-55109445381154357794004300
OSK-W-21-1827-W4331-58104645250654343904032475
OSK-W-21-1827-W5331-58116445250654343904032475
OSK-W-21-1882-W4328-58107445246954344054002450
OSK-W-21-2067-W8123-53119145324154356974163750
OSK-W-21-2067-W9123-53116445324154356974163750
OSK-W-21-2123-W5126-57133245323554357744093800
OSK-W-21-2123-W6126-57134645323554357744093800
OSK-W-21-2275-W7127-49118245288854355834093400
OSK-W-21-2287-W2116-53139245360754357144044075
OSK-W-21-2363-W5139-52101445293054355484193425
OSK-W-21-2470-W5132-59120345330454356394153775
OSK-W-21-2478-W5128-54116645299754356074253500
OSK-W-21-2479-W5344-5597845231554344193992325
OSK-W-21-2492-W4122-5394545368754356764014125
OSK-W-21-2495-W1123-54130145342654355654103850
OSK-W-21-2503-W1126-58116145333354356414133800
OSK-W-21-2503-W2126-58119945333354356414133800
OSK-W-21-2512331-54104145244854344654002475
OSK-W-21-2512-W1331-54108945244854344654002475
OSK-W-21-2520337-56114045259654343924012550
OSK-W-21-2522128-54122145345154355944113900
OSK-W-21-2522-W1128-54111645345154355944113900
OSK-W-21-2528333-5473845246954346824032600
OSK-W-21-2531344-62118845256654344154032550
OSK-W-21-2532341-60110745248054344284012475
OSK-W-21-2533159-4532145347654360354054125
WST-21-0682B129-6447245310654350662313325
WST-21-0724131-642954535085435327-73800
WST-21-0726149-644544535075435327-73800
WST-21-0759141-436804533215435235543600
WST-21-0770129-438354533745435296-263675
WST-21-0791129-213554534635435327323775
WST-21-0792126-203464534635435327323775
WST-21-0793A127-163224534635435327333775
WST-21-0794121-113154534635435327333775
WST-21-0797A138-467514533215435235543600
WST-21-0801139-5441845295454350032533175
WST-21-0807144-425084533215435235543600
WST-21-0816164-410945196054347342502175
WST-21-0818167110645195854347342502175
WST-21-08221292912445196154347342512175
WST-21-0824156-703434535065435327-73800
WST-21-0829131-495764532585435209963525
WST-21-0838131-5636645310654350662313325

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.

Zone 27
Mineralization most commonly occurs as replacement-type characterized by 5% to 50% disseminated, stringer, semi-massive or stockwork pyrite, ptygmatic tourmaline veins, quartz-tourmaline crustiform veins, local quartz-carbonate veins, and local visible gold. Mineralization is associated with moderate to strong sericite, weak to strong silica, weak chlorite and carbonate and locally weak fuchsite and is hosted in strongly altered andesites, in or at the contact of the rhyolite, or along the contacts 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.

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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