Mr. Don Njegovan reports

OSISKO METALS CLOSES C$15 MILLION "BOUGHT-DEAL" FLOW-THROUGH SHARE FINANCING

Osisko Metals Inc. has successfully closed its previously announced bought deal private placement financing, pursuant to which the company issued an aggregate of 11,812,000 common shares of the company that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) at a price of $1.27 per flow-through share for gross proceeds to the company of $15,001,240.

The company will use an amount equal to the gross proceeds from the sale of the flow-through shares under the offering to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures (as both terms are defined in the Income Tax Act (Canada)), in respect of the company's projects in Canada. The qualifying expenditures will be incurred on or before Dec. 31, 2027, and will be renounced by the company to the initial purchasers of the flow-through shares with an effective date no later than Dec. 31, 2026.

The offering was co-led by Canaccord Genuity Corp. and BMO Capital Markets.

The company understands that Agnico Eagle Mines Ltd. and Hudbay Minerals Inc., two of its existing strategic investors, along with Toronto-based fund Rosseau Asset Management Ltd., have purchased, as part of a follow-on transaction to the issuance of the flow-through shares, all of the common shares issued under the offering at a price of 85 cents per common share for an aggregate purchase price of approximately $10-million.

The flow-through shares issued under the offering are subject to a hold period expiring four months and one day from the date hereof, pursuant to applicable Canadian securities laws. The offering remains subject to final acceptance of the Toronto Stock Exchange.

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 Corp. 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 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 -- Standards of Disclosure for Mineral Projects). 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 National Instrument 43-101 -- Standards of Disclosure for Mineral Projects). 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.

We seek Safe Harbor.