Mr. John Burzynski reports

OSISKO UPDATES ON APPLICATION BY ABITIBI ROYALTIES INC.

Osisko Mining Corp. has provided an update on the application that was commenced by Abitibi Royalties Inc. in the Quebec Superior Court.

On May 30, 2014, Osisko announced that it had received motion materials from Abitibi seeking to, among other things, enforce claimed contractual rights under a mining option agreement in relation to 10 undeveloped claims known as the Malartic CHL prospect, in which Abitibi holds a 30-per-cent interest and Osisko holds the remaining 70-per-cent interest, prior to completion of the arrangement between Osisko, Agnico Eagle Mines Ltd. and Yamana Gold Inc.

While Osisko, Agnico Eagle and Yamana believe that Abitibi's claim is opportunistic and without merit, on June 2, 2014, Osisko, Agnico Eagle and Yamana agreed to amend the plan of arrangement to clarify that Abitibi's rights and obligations are not affected by the arrangement. The plan was amended to provide (i) that the CHL prospect will not be transferred by Osisko under the arrangement, (ii) that the arrangement is not intended to affect the rights and obligations of Abitibi or Osisko under the mining option agreement, and (iii) that Osisko will be bound by any award made pursuant to the mandatory arbitration clause in the mining option agreement.

On June 4, 2014, Abitibi advised the court that it would not proceed with its motion for the issuance of provisional injunctive orders. On June 5, 2014, at Abitibi's request, the court adjourned Abitibi's motion indefinitely.

On June 5, 2014, Osisko advised the court of its intention to bring a motion to compel Abitibi to resolve its claims through arbitration. The court has fixed June 13, 2014, for the hearing of Osisko's motion.

Osisko will continue to defend against Abitibi's claims vigorously.

We seek Safe Harbor.