Mr. John Burzynski reports

OSISKO MINING INC. ACQUIRES EQUITY INTEREST IN CANADIAN OREBODIES

By way of participation in a private placement on Aug. 18, 2016, Osisko Mining Inc. acquired an aggregate of 25.85 million units in the capital of Canadian Orebodies Inc. by paying a cash subscription price of six cents per unit, with each unit consisting of one common share in the capital of Canadian Orebodies and one-half warrant, with full warrants being exercisable for 18 months from closing with an exercise price of 14 cents.

Immediately prior to the transaction, the corporation had no shares in Canadian Orebodies. After giving effect to the acquisition by the corporation of the 25.85 million units, the corporation had ownership or control, directly or indirectly, over 25.85 million common shares and 12,925,000 warrants in the capital of Canadian Orebodies, or holdings equal to 19.9 per cent of the issued and outstanding common shares of Canadian Orebodies on a partially diluted basis (assuming the exercise of only those warrants held by the corporation).

The corporation reviews its holdings from time to time and may increase or decrease its position as future circumstances may dictate.

This news release is being issued in accordance with National Instrument 62-103, the Early Warning System and Related Takeover Bid and Insider Reporting Issues, in connection with the filing of an early warning report dated Aug. 19, 2016. The early warning report respecting the transactions will be filed on SEDAR under Canadian Orebodies' issuer profile. To obtain a copy of the early warning report filed by the corporation, please contact John Burzynski at 416-363-8653 or refer to the SEDAR filing under Canadian Orebodies' issuer profile.