Mr. John Burzynski reports

OSISKO ANNOUNCES TSX APPROVAL TO RENEW NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has approved Osisko Mining Inc.'s notice of intention to make a normal course issuer bid. Under the terms of the NCIB program, Osisko may acquire up to 36,465,404 of its common shares from time to time in accordance with the normal course issuer bid procedures of the TSX.

The normal course issuer bid will be conducted through the facilities of the TSX or alternative trading systems, if eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market transactions or such other means as a securities regulatory authority may permit, including prearranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority.

Repurchases under the NCIB program may commence on Jan. 2, 2024, and will terminate on Jan. 1, 2025, or on such earlier date as the NCIB program is complete. Daily purchases will be limited to 191,304 common shares, other than block purchase exemptions, representing 25 per cent of the average daily trading volume of the common shares on the TSX for the six-month period ending Nov. 30, 2023, being 765,219 common shares.

The price that the corporation may pay for any common shares purchased in the open market under the NCIB program will be the prevailing market price at the time of purchase (plus any brokerage fees) and any common shares purchased by the corporation will be cancelled. In the event that the corporation purchases common shares by prearranged crosses, exempt offers, block purchases or private agreements, the purchase price of the common shares may be, and will be in the case of purchases by private agreements, as may be permitted by the securities regulatory authority, at a discount to the market price of the common shares at the time of acquisition.

The board of directors of Osisko believes that the underlying value of the corporation may not be reflected in the market price of the common shares from time to time and that, accordingly, the purchase of common shares will increase the proportionate interest in the corporation of, and be advantageous to, all remaining shareholders of the corporation.

As of Dec. 19, 2023, there were 370,797,070 common shares issued and outstanding. The 36,465,404 common shares that may be repurchased under the NCIB program represent approximately 10 per cent of the public float of the corporation as of Dec. 19, 2023, being 364,654,047 common shares.

During the prior NCIB program of the corporation, which will end on Jan. 1, 2024, the corporation obtained approval to purchase 29,053,640 common shares, and actually purchased 13,992,324 common shares at a weighted average price of approximately $2.93 per common share through the facilities of the TSX and alternative trading systems in Canada.

Osisko has appointed Canaccord Genuity Corp. to make any purchases under the NCIB program on its behalf.

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration and development of precious metal resource properties in Canada. Osisko holds a 50-per-cent interest in the high-grade Windfall gold deposit located between Val d'Or and Chibougamau in Quebec and holds a 50-per-cent interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 2,300 square kilometres).

We seek Safe Harbor.