75.4 g/t Au Over 3.2 Metres in Triple Lynx

103 g/t Au Over 2.3 Metres and 105 g/t Au Over 2.0 Metres in Lynx

TORONTO, July 07, 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 60 intercepts in 20 drill holes (5 from surface, 15 from underground) and 12 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: “Infill and expansion drilling from across the Windfall deposit continues to progress well. In particular, the focused infill drilling in all the Lynx zones consistently returns well distributed high-grade and expansion drilling is adding ounces. WST-21-0810 and OSK-W-21-2123-W5 both extended Triple Lynx wireframes, 25 metres and 40 meters at depth, respectively.”

Selected high-grade intercepts include: 75.4 g/t Au over 3.2 metres and 86.9 g/t Au over 2.4 metres in OSK-W-21-2470-W4; 103 g/t Au over 2.3 metres in WST-21-0722; 105 g/t Au over 2.0 metres in WST-21-0716; 29.5 g/t Au over 6.0 metres in OSK-W-21-2067-W8; 87.1 g/t Au over 2.0 metres in OSK-W-21-2067-W7; 42.3 g/t Au over 3.0 metres in OSK-W-21-1882-W3; 60.6 g/t Au over 2.0 metres in WST-21-0721 and 30.7 g/t Au over 3.9 metres in WST-21-0682B. 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-21-1882-W3829.3832.33.042.3 UDD_4102
Underdog
including831.3832.31.085.2 
 936.0938.02.04.12 UDD_4511
Underdog
including936.0936.50.516.3 
OSK-W-21-2067-W71136.01138.02.087.120.1TLX_3172
Triple Lynx
including1136.81137.20.4435100
OSK-W-21-2067-W81112.01118.06.029.520.1TLX_3170
Triple Lynx
including1115.41116.10.7181100
OSK-W-21-2275-W7675.0677.02.04.70 TLX_3196
Triple Lynx
including675.4676.00.614.6 
OSK-W-21-2470-W4956.0958.02.03.85 TLX_3163Triple Lynx
 961.6964.02.486.935.3TLX_3163
Triple Lynx
including962.0962.80.8255100
 987.8991.03.275.445.6TLX_3164
Triple Lynx
including987.8988.50.7236100
OSK-W-21-2478-W5860.0862.12.116.7 TLX_3184
Triple Lynx
including860.7861.71.034.1 
OSK-W-21-2479-W4651.3653.32.041.540.3UDD_4100
Underdog
including653.0653.30.3108100
OSK-W-21-2503-W11022.81024.82.09.75 TLX_3164
Triple Lynx
including1024.21024.80.625.6 
OSK-W-21-2520639.0643.24.29.87 CA2_2206
Caribou
including639.0639.30.364.6 
and642.5643.20.726.3 
OSK-W-21-2522-W1655.2657.32.110.0 LXM_3304
Lynx
including656.2656.60.441.6 
 747.1749.42.34.58 LXM_3345
Lynx
including747.8748.40.617.1 
OSK-W-21-2523503.5507.74.24.27 CA2_2247
Caribou
including503.5504.00.513.1 
 511.0513.12.13.61 CA2_2241Caribou
 522.7529.06.38.53 CA2_2233
Caribou
including528.4529.00.639.7 
OSK-W-21-2532452.0454.02.024.7 Caribou_2232
Caribou
including453.0454.01.049.0 
OSK-W-21-2534558.4560.62.29.81 Caribou_2247Caribou
WST-21-0682A89.892.02.219.8 LXM_3339
Lynx
including90.191.00.947.7 
WST-21-0682B105.5107.62.16.82 LXM_3311
Lynx
including106.9107.30.425.7 
 349.0352.03.032.729.9TLX_3166
Triple Lynx
including349.0349.30.3128100
 357.6361.53.930.7 TLX_3166
Triple Lynx
including358.0358.60.668.0 
and360.8361.50.778.0 
 363.5365.72.25.78 TLX_3166Triple Lynx
 456.0458.02.024.5 TLX_3130
Triple Lynx
including456.0456.60.674.6 
WST-21-071626.528.52.022.1 LXM_3303
Lynx
including27.128.00.947.4 
 81.083.02.010533.1LXM_3304
Lynx
including81.482.00.6339100
 87.089.02.017.7 LXM_3304
Lynx
including87.087.70.750.4 
WST-21-072080.282.52.38.25 LXM_3336
Lynx
including80.881.30.535.9 
 92.394.72.48.99 LXM_3304Lynx
WST-21-072192.094.02.060.660.2LXM_3304
Lynx
including92.493.61.2101100
WST-21-072225.327.62.310325.2LXM_3303
Lynx
including26.527.00.5459100
WST-21-0759325.1327.22.13.96 TLX_3131Triple Lynx
WST-21-0778313.4315.72.35.23 TLX_3131
Triple Lynx
including314.4315.00.618.0 
 511.0513.02.028.3 LX4_3429
Lynx 4
including512.0513.01.051.5 
WST-21-0789B325.6327.92.38.20 TLX_3166
Triple Lynx
including325.9326.80.917.0 
WST-21-0801306.5308.62.111.5 LSW_3556
Lynx Southwest
including307.0307.70.733.7 
WST-21-0810344.0346.02.04.77 TLX_3131Triple Lynx
 373.0376.03.05.08 TLX_3167Triple Lynx
 531.0533.02.033.825.2LX4_3450
Lynx 4
including532.1532.60.5135100
 736.8738.92.122.2 LX4_3412
Lynx 4
including737.6737.90.378.9 
WST-21-081581.083.02.04.09 Z27_1102Zone 27
WST-21-0819A79.081.02.03.89 Z27_1115
Zone 27
including80.181.00.98.45 
WST-21-082092.595.02.53.56 Z27_1102Zone 27
WST-21-0827247.7250.02.313.4 TLX_3161Triple Lynx

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. Z27 = Zone 27, CA2 = Caribou 2, LSW = Lynx Southwest, LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx, 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-21-2123-W51154.61159.04.416.6 Triple Lynx
Lynx
including1154.61155.00.442.9 
and1156.01156.40.461.4 
and1157.61158.00.441.9 
 1203.01205.02.05.59 Triple Lynx
Lynx
including1203.81204.10.313.3 
 1209.01211.02.04.32 Triple LynxLynx
OSK-W-21-2470-W3956.8958.82.045.730.6Triple Lynx
Lynx
including957.3957.90.6151100
 989.8991.82.016.2 Triple Lynx
Lynx
including991.2991.50.380.1 
OSK-W-21-2479-W4426.0428.02.019.2 Zone 27
Main Zone
including427.3428.00.749.9 
OSK-W-21-2480-W3731.5733.52.026.4 Lynx
Lynx
including732.5733.51.051.8 
OSK-W-21-2523409.5412.02.57.42 Caribou
Main Zone
including409.5410.30.816.2 
OSK-W-21-2540824.5826.52.04.94 Lynx Main
Lynx
including825.9826.50.615.8 
WST-21-0682B375.0377.02.04.08 Lynx SWLynx
 384.0386.12.15.90 Lynx SW
Lynx
including385.6386.10.524.2 
WST-21-075929.732.02.36.83 Lynx MainLynx
WST-21-0778323.0325.02.010.7 Triple Lynx
Lynx
including323.3323.60.369.0 
WST-21-0789B371.0373.02.04.42 Triple Lynx
Lynx
including372.6373.00.419.3 
WST-21-0810450.2453.02.825.2 Triple Lynx
Lynx
including452.5453.00.596.7 

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

Drill hole location

Hole NumberAzimuth
(°)
Dip
(°)
Length
(m)
UTM EUTM NElevationSection
OSK-W-21-1882-W3328-58100445246954344054002450
OSK-W-21-2067-W7123-53116645324154356974163750
OSK-W-21-2067-W8123-53119145324154356974163750
OSK-W-21-2123-W5126-57133245323554357744093800
OSK-W-21-2275-W7127-49118245288854355834093400
OSK-W-21-2470-W3132-59120945330454356394153775
OSK-W-21-2470-W4132-59115545330454356394153775
OSK-W-21-2478-W5128-54116645299754356074253500
OSK-W-21-2479-W4344-5576145231554344193992325
OSK-W-21-2480-W3121-5581045341254356334123875
OSK-W-21-2503-W1126-58116145333354356414133800
OSK-W-21-2520337-56114045259654343924012550
OSK-W-21-2522-W1128-54111645345154355944113900
OSK-W-21-2523340-58110745248054344284022475
OSK-W-21-2532341-60110745248054344284012475
OSK-W-21-2534343-59120345254954343634012500
OSK-W-21-2540117-60102545346554356404103925
WST-21-0682A133-6613945310654350662313325
WST-21-0682B129-6447245310654350662313325
WST-21-0716160-3974533595435194833625
WST-21-072016221034533595435194843625
WST-21-0721166-11034533595435194833625
WST-21-072216611064533595435194843625
WST-21-0759141-436804533215435235543600
WST-21-0778145-315344533745435296-263675
WST-21-0789B125-5538145310654350662313325
WST-21-0801139-5441845295454350032533175
WST-21-0810138-477654532575435209963525
WST-21-081515909945196054347342502175
WST-21-0819A173-210045195754347352502175
WST-21-08201791811545195754347352502175
WST-21-0827145-663134535075435327-73800

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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