Mr. Sean Roosen reports
OSISKO ANNOUNCES FIRST GOLD POUR AT THE EAGLE GOLD MINE
Victoria Gold Corp. poured first gold at its Eagle gold mine yesterday night following the recently announced completion of construction and transition to operations. Eagle is expected to produce approximately 200,000 ounces of gold annually at an all-in sustaining cost of less than $750 (U.S.)/ounce.
Sean Roosen, chair and chief executive officer of Osisko Gold Royalties Ltd., stated: "Congratulations to the Victoria team, led by John McConnell, for having delivered Canada's newest gold mine. The Eagle mine will deliver substantial benefits to the government of Yukon, the area's first nations communities and other stakeholders. Osisko is also pleased to have one of its accelerator company investments reach production stage."
Osisko Gold Royalties owns a 5-per-cent net-smelter-return royalty on Eagle which it acquired in April of 2018 as part of a comprehensive $505-million project financing package that helped launch the construction of the project. The Eagle royalty will provide Osisko with an average of 10,000 ounces of gold annually over the projected 10-year mine life of Eagle. The Dublin Gulch property also provides excellent growth potential through the addition of the Olive deposit and further exploration.
About Osisko Gold Royalties Ltd.
Osisko Gold Royalties is an intermediate precious metal royalty company that holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its 5-per-cent NSR royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.
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