Mr. Robert Wares reports

OSISKO METALS ANNOUNCES $32.5 MILLION PRIVATE PLACEMENT WITH STRATEGIC INVESTORS

Osisko Metals Inc. expects to complete a non-brokered private placement with certain strategic investors for an aggregate of approximately 67,666,666 common shares of the company at an offering price of 48 cents per common share for aggregate gross proceeds to the company of approximately $32.48-million.

The private placement is expected to include subscriptions from certain strategic investors, including:

• Hudbay Minerals Inc.: 29,166,666 common shares for gross proceeds of $14-million;
• Agnico Eagle Mines Ltd.: has indicated that it intends to subscribe for 26 million common shares for gross proceeds of $12.48-million pursuant to an existing participation right;
• Franco-Nevada Corp.: 4,166,667 common shares for gross proceeds of $2-million;
• A strategic institutional investor: 8,333,333 common shares for gross proceeds of $4-million.

The size of the private placement will depend on, among other things, certain contractual participation rights granted by the company to Glencore Canada Corp.

Osisko Metals chief executive officer Robert Wares commented: "We are pleased to welcome Hudbay Minerals as a new significant shareholder of Osisko Metals. We also appreciate the continued participation of Agnico Eagle and two of our existing principal and strategic shareholders. We view the participation in the private placement by these investors as support for the potential of the Gaspe copper project and we look forward to continued support from these shareholders as we advance our project."

After giving effect to the private placement, but before giving effect to any other issuance of common shares (including pursuant to the Glencore participation right): (i) Hudbay Minerals Inc. is expected to beneficially own or control 29,166,666 common shares, representing approximately 4.3 per cent of the issued and outstanding common shares, calculated on a non-diluted basis; and (ii) Agnico Eagle Mines Ltd. is expected to beneficially own or control 87,815,000 common shares, representing an ownership interest in the company equal to approximately 12.5 per cent (calculated on a partially diluted basis). As part of the private placement, the company and Hudbay have agreed to enter into an investor rights agreement, pursuant to which Hudbay will be granted certain rights, including top-up rights and the right to participate in future offerings of securities of the company upon Hudbay's ownership interest increasing to 9.9 per cent and, subject to certain minimum ownership thresholds and other conditions, the right to board representation.

The net proceeds of the private placement are expected to be used to advance the company's Gaspe copper project (including drilling, permitting and technical studies) and for general corporate purposes. The private placement is expected to close on or about Dec. 16, 2025, subject to the negotiation and execution of definitive agreements and the satisfaction of certain customary closing conditions therein, including the conditional approval of the Toronto Stock Exchange (the TSX).

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 its flagship project, the past-producing Gaspe copper mine, from Glencore Canada in July, 2023. The Gaspe copper project 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 Mt (million tonnes) grading 0.34 per cent CuEq (copper equivalent) and inferred mineral resources of 670 Mt 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 Mt at 5.52 per cent ZnEq (zinc equivalent) and inferred mineral resources of 8.3 Mt 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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