Mr. John Burzynski reports

OSISKO MINING COMPLETES $25 MILLION PRIVATE PLACEMENT OF "FLOW-THROUGH" SHARES

Further to its announcements on June 27, 2016, Osisko Mining Inc. has completed a bought deal private placement financing of 7.57 million flow-through common shares of the corporation, at an average price of approximately $3.33 per flow-through share, for total gross proceeds of $25,010,800. The offering was underwritten by a syndicate of underwriters co-led by Canaccord Genuity Corp. and Dundee Securities Ltd., and including Beacon Securities Ltd., Cormark Securities Inc., Haywood Securities Inc. and M Partners Inc.

The corporation intends to use the gross proceeds of the offering for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) related to the Canadian exploration projects of Osisko. The corporation has agreed to renounce such Canadian exploration expenses with an effective date of no later than Dec. 31, 2016.

All securities issued to purchasers under the offering will be subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation.

We seek Safe Harbor.