Mr. John Burzynski reports

OSISKO MINING ANNOUNCES C$30 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Osisko Mining Inc. has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. in connection with a bought deal private placement financing of an aggregate of 5,295,000 common shares of the corporation that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec)).

The flow-through shares will be issued at a price of $5.67 for aggregate gross proceeds of $30,022,650.00. In addition, the company will grant the underwriters an option to sell an additional 794,250 flow-through shares, at the issue price for additional gross proceeds of $4,503,397.50 exercisable 48 hours prior to the closing date.

The gross proceeds from the issue and sale of the flow-through shares will be used by the corporation to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada) related to the corporation's projects in Quebec on or before Dec. 31, 2020. All qualifying expenditures will be renounced in favour of the subscribers of the flow-through shares effective Dec. 31, 2019.

The offering is expected to close on or about Aug. 8, 2019, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities. The flow-through shares to be issued under the offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the offering.

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration and development of precious metal resource properties in Canada. 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 the Urban Barry area and nearby Quevillon area (over 2,700 square kilometres).

We seek Safe Harbor.