Mr. Paul Martin reports

OSISKO GOLD ROYALTIES ANNOUNCES SALE OF COMMON SHARES OF OSISKO MINING FOR GROSS PROCEEDS OF C$132 MILLION

Osisko Gold Royalties Ltd. has sold 50,023,569 common shares of Osisko Mining Inc. pursuant to a bought block trade with National Bank Financial and BMO Capital Markets for aggregate gross proceeds of approximately $132-million.

Following the transaction the corporation no longer holds any common shares of Osisko Mining. The corporation continues to hold its 2-per-cent-to-3-per-cent net smelter return royalty on the Windfall gold project and the surrounding property, held by a 50/50 joint venture partnership between Osisko Mining and Gold Fields Ltd.

Paul Martin, interim chief executive officer of Osisko, commented: "The sale of our equity position in Osisko Mining serves two important purposes. Firstly, it reaffirms Osisko's commitment to aligning ourselves as a pure-play precious metals royalty and streaming company. Secondly, it bolsters our financial position by injecting immediate cash resources, therefore restoring our balance sheet to a strong position. We remain extremely enthusiastic about our ongoing partnership with both Osisko Mining and Gold Fields at Windfall; a fully funded, high-grade gold project, situated in the province of Quebec, one of the world's best mining jurisdictions. Osisko maintains its exposure to Windfall through its 2-to-3-per-cent NSR royalty on the project, and the surrounding property."

Early warning disclosure

Immediately prior to the transaction, Osisko owned 50,023,569 common shares of Osisko Mining, representing approximately 13.3 per cent of the issued and outstanding common shares of Osisko Mining on a non-diluted basis. Osisko disposed of the common shares in the ordinary course of business. Osisko held its common shares for investment purposes and, following the transaction, Osisko no longer holds any common shares of Osisko Mining. Osisko disposed of the common shares at a price per share equal to $2.63, net of any applicable commissions.

Osisko will file an early warning report under National Instrument 62-103 in connection with the transaction. A copy of the early warning report to be filed by the corporation will be available under Osisko Mining's profile on SEDAR+ or may be obtained by contacting Frederic Ruel, chief financial officer and vice-president, finance, at 514-940-0670.

The corporation's head office is located at 1100 Ave. des Canadiens-de-Montreal, suite 300, Montreal, Que., H3B 2S2. Osisko Mining's head office is located at suite 1440, 155 University Ave., Toronto, Ont., Canada M5H 3B7.

About Osisko Gold Royalties Ltd.

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company which holds a North American-focused portfolio of over 180 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its cornerstone asset, a 5-per-cent net smelter return royalty on the Canadian Malartic mine, one of Canada's largest gold mines.

We seek Safe Harbor.