Mr. Robert Wares reports

OSISKO METALS WELCOMES THE PARTICIPATION OF THE QUEBEC GOVERNMENT IN ITS GASPE COPPER PROJECT

Osisko Metals Inc. is pleased to welcome the participation of the government of Quebec in its Gaspe copper project, located next to the town of Murdochville in the Gaspe Peninsula, on the traditional territory of the Mi'gmaq First Nation of Gespe'gewa'gi.

The government of Quebec will lead a pilot project to create a committee that seeks to maximize the economic benefits of the Gaspe copper project. The committee will be overseen by the Ministere des Ressources naturelles et des Forets (Quebec Ministry of Natural Resources and Forests) and aims to optimize socio-economic benefits in the Gaspe Peninsula by ensuring strong collaboration with the business community throughout the project development process.

The announcement was made today in Murdochville during a press conference by Maite Blanchette Vezina, Minister of Natural Resources and Forests and Minister Responsible for the Bas-Saint-Laurent Region and the Gaspesie-Iles-de-la-Madeleine Region, along with Mr. Stephane Sainte-Croix, MNA for Gaspe, and local representatives. Robert Wares, chief executive officer of Osisko Metals, also participated in the press conference.

Minister Vezina said: "I am very proud of the creation of this maximization committee, which will act as a lever for co-operation and transparency in this project. This approach demonstrates our government's desire to develop mining activities harmoniously, as evidenced by the modernization of the Mining Act. Copper and its derivatives are minerals we need to be interested in for our energy transition, and completing this mining project could ultimately help secure our supplies. I want to thank all the stakeholders in advance for participating in the committee."

"This initiative by our government demonstrates our commitment to help create winning conditions for the participation of economic stakeholders and the development of business opportunities associated with the Gaspe copper project," added Mr. Sainte-Croix, MNA for Gaspe. "As such, we are convinced that this pilot project will allow for a structuring and harmonious integration of stakeholders in the economic project and will contribute significantly to the major benefits that will participate in the development and visibility of the region."

On behalf of Osisko Metals, Mr. Wares said: "We are delighted to have the participation and support of the government of Quebec in the advancement of the Gaspe copper project. Osisko Metals intends to develop the project in harmony with the citizens of Murdochville and the Gaspe Peninsula, the Mi'gmaq community of Gespe'gewa'gi, and the local business community while prioritizing respect for the environment and sustainable development in our activities. We firmly believe that Gaspe copper could become an economic pillar that will benefit the Gaspe Peninsula for several decades to come."

About the project

Osisko Metals' Gaspe copper project aims to restart the Murdochville Gaspe copper mine by 2031. The former mine site contains excellent estimated resources of copper, a critical and strategic mineral that is increasingly in demand worldwide, and other important byproducts in the industry, such as molybdenum. The Gaspe copper project is currently in the advanced exploration phase and Osisko Metals plans to continue its feasibility studies until 2027.

Responsible and harmonious collaboration

On the ministerial side, the announced pilot project comes from the 2024-2025 road map for the harmonious and responsible development of mining activity, also made public today by the Minister of Natural Resources and Forests. This road map stems more broadly from the major observations made following the participatory approach for the harmonious development of mining activity, carried out in the spring of 2023, which included social acceptability, the participation of local communities and the maximization of economic benefits.

The objectives of the maximization committee formed in Murdochville, therefore, aim to improve and consolidate approaches that promote economic benefits on a regional scale, increase the participation of local and indigenous business communities in the development of the project, and identify opportunities within the circular economy. Creating a place for exchanges between the business community and Osisko Metals also facilitates the overall understanding of the project and the opportunities it creates in the area. Various local and regional economic development organizations -- municipal, governmental, business and indigenous -- will sit on the committee.

Osisko Metals' leadership

Osisko Metals is also proud of the leadership role it plays in the industry and on the provincial scene, as its participation in this pilot project will allow the ministry to identify best practices for maximizing benefits in mining project host communities and to develop a program of support that facilitates the establishment of this type of committee in other regions of Quebec.

About Osisko Metals Inc.

Osisko Metals is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc.

The company acquired a 100-per-cent interest in the past-producing Gaspe copper mine from Glencore Canada Corp. in July, 2023. The Gaspe copper mine is located near Murdochville in Quebec's Gaspe Peninsula. The company is currently focused on resource expansion of the Gaspe copper system, with current indicated mineral resources of 824 million tonnes (t) grading 0.34 per cent copper equivalent (CuEq) and inferred mineral resources of 670 million t grading 0.38 per cent CuEq (in compliance with National Instrument 43-101). For more information, see Osisko Metals' Nov. 14, 2024, news release, entitled "Osisko Metals Announces Significant Increase in Mineral Resource at Gaspe Copper." Gaspe copper hosts the largest undeveloped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Quebec.

In addition to the Gaspe copper project, the company is working with Appian Capital Advisory LLP through the Pine Point Mining Ltd. joint venture to advance one of Canada's largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of indicated mineral resources of 49.5 million t at 5.52 per cent zinc equivalent (ZnEq) and inferred mineral resources of 8.3 million t at 5.64 per cent ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals' June 25, 2024, news release, entitled, "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52 per cent ZnEq." The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

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