Mr. John Burzynski reports

OSISKO MINING INC. ANNOUNCES C$27.5 MILLION BOUGHT DEAL FINANCING

Osisko Mining Inc. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy, on a bought deal basis, by way of private placement, 10 million common shares of the corporation, at a price of $2.75 per common share for gross proceeds of $27.5-million. In addition, the corporation has also granted the underwriters an option, exercisable up to 48 hours prior to the closing of the offering, to purchase up to an additional 15 per cent of the number of common shares purchased pursuant to the offering.

The corporation intends to use the net proceeds of the offering to continue exploration and development of the Windfall Lake gold project and for general corporate purposes.

The offering is expected to close on or about Sept. 27, 2016, and is subject to Osisko receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.

About Osisko Mining

Osisko holds a 100-per-cent interest in the high-grade Windfall Lake gold deposit, located between Val d'Or and Chibougamau in Quebec, and holds a 100-per-cent undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100-per-cent interest in the Marban project, located in the heart of Quebec's prolific Abitibi gold mining district, as well as properties in the Larder Lake mining division in Northeastern Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past-producing mine and the Gold Pike mine property. The corporation also holds interests and options in a number of additional properties in Northern Ontario. Osisko continues to be well financed and has approximately $50-million in cash and cash equivalents, as well as marketable securities of approximately $60-million.

We seek Safe Harbor.