Mr. Don Njegovan reports

OSISKO METALS CLOSES C$25 MILLION FLOW-THROUGH SHARE FINANCING

Osisko Metals Inc. has closed a non-brokered private placement financing, pursuant to which the company issued an aggregate of 9,461,840 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) and Section 359.1 of the Taxation Act (Quebec)) at a price of $2.64 per flow-through share for gross proceeds to the company of $24,979,257.60. The offering was conducted as a structured flow-through-share transaction arranged by PearTree Securities Inc.

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 such terms are defined in the Income Tax Act (Canada)), in respect of the company's projects in Quebec. 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 company understands that Agnico Eagle Mines Ltd. and Hudbay Minerals Inc., two of its existing strategic investors, 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.

The flow-through shares issued under the offering are subject to a hold period expiring four months and one day from the date of issuance, 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 metal 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 project is located near Murdochville in Quebec's Gaspe Peninsula. The company is currently focused on resource expansion of the Gaspe copper deposits, with current pit-constrained measured and indicated mineral resources of 1.83 billion tonnes averaging 0.32 per cent copper equivalent and inferred mineral resources of 239 million tonnes averaging 0.46 per cent CuEq (in compliance with National Instrument 43-101). For more information, see the technical report titled "NI 43-101 Technical Report on the Gaspe Copper Project with an Updated Mineral Resource Estimate for the Copper Mountain Deposit, Quebec, Canada," dated May 28, 2026 (with an effective date of Jan. 17, 2026), a copy of which is available on SEDAR+ under Osisko Metals' issuer profile. 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 averaging 5.52 per cent zinc equivalent and inferred mineral resources of 8.3 Mt averaging 5.64 per cent ZnEq (in compliance with NI 43-101). For more information, see the technical report titled "NI 43-101 Technical Report, Pine Point Zinc-Lead Project, Mineral Resource Estimate Update, Hay River, Northwest Territories, Canada," dated Aug. 9, 2024 (with an effective date of May 31, 2024), a copy of which is available on SEDAR+ under Osisko Metals' issuer profile. 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.