Osisko Metals intersects 18.50% zinc+lead Over 10.00 metres at Pine Point

16 May 2019

Osisko Metals Incorporated is pleased to announce additional assay results from 53 drill holes completed in the L-27, L-30 and N-32EXT areas within the East Mill Zone in the Pine Point Mining Camp (“PPMC”). Highlights include drill hole EM-18-PP-403 that intersected 14.66% zinc and 3.84% lead over 10.00 metres and hole EM-18-PP-291 that intersected 8.59% zinc and 2.38% lead over 3.25 metres. (See EMZ L27 map)
All intersections are within flat-lying tabular-style deposits, and are located between 8 to 33 metres vertical depths. Drill hole composites and location details are provided in Tables 1 & 2.
The objective of the 2018 – 2019 drill program was to convert the Cominco Ltd. unclassified near-surface historical resources into current mineral resources and to locally extend known zones of mineralization. An initial 2018 Inferred Mineral Resource of 38.4 Mt grading 4.58% zinc and 1.85% lead was calculated on historical drilling using the initial 317 drill holes out of a total of 1031 holes that were drilled by Osisko Metals during the 2018 and 2019 campaign. These latest East Mill Zone drill holes were not included in this 2018 Inferred Mineral Resource Estimate.
The East Mill Zone extends for 7.6 kilometres along strike, contains eight deposits, three of which were mined by Cominco, and are located 1.7 kilometres to the east of the existing electrical sub-station and former mill site along a main haulage road. Cominco produced 3,417,550 tonnes of 3.4% Zinc and 1.0% Lead from the L-37 pit, 262,170 tonnes of 2.8% Zinc and 1.1% Lead from the L-30 pit and 350,870 tonnes of 5.5% Zinc and 2.2% Lead from the underground M-40 mine. Reported NI43-101 Inferred Mineral Resources for the East Mill Zone total 5.50 million tonnes of 3.76% Zinc and 1.30% Lead.