Osisko Metals Reports Additional Drill Results from Pine Point with up to 10 Metres Grading 8.71% Zn + Pb

13 November 2023

(Montreal, November 13, 2023) Osisko Metals Incorporated (the “Company” or “Osisko Metals“) (TSX-V: OMOTCQX: OMZNFFRANKFURT: 0B51) is pleased to announce additional results from the 2023 drilling program at the Pine Point Mining Limited (“PPML”) Joint Venture Project, located in the Northwest Territories, Canada. The reported results are from the J68 and K68 deposits in the C1 Area (C1) of the Central Zone.

Results from the K68 deposit indicate a new extension of tabular-style mineralization towards the east of the known deposit boundaries with localized increases in grade and thickness suggesting that there is exploration potential for new prismatic-style deposits in proximity to the C1 Area. Drilling at J68 defined the limits of that prismatic deposit.

These results are positive as the Company prepares for the Q1 2024 exploration program. Currently there are geophysical surveys underway evaluating target areas for prismatic-style mineralization that were outlined over the summer months by the Joint Venture Exploration Team.

Highlights of Drill Hole Assay Composites:

  • K68-23-PP-001: 10.00 metres grading, 7.20% Zn and 0.73% Pb (7.93 Zn+Pb)
  • K68-23-PP-009: 6.00 metres grading, 11.37% Zn and 0.54% Pb (11.91 Zn+Pb)
  • K68-23-PP-020: 8.00 metres grading, 9.44% Zn and 1.20% Pb (10.63 Zn+Pb)
  • K68-23-PP-030: 10.00 metres grading, 5.20% Zn and 3.50 %Pb (8.71 Zn+Pb)
  • K68-23-PP-064B: 7.00 metres grading, 9.97% Zn and 4.49% Pb (14.45 Zn+Pb)

Drilling was conducted as part of the PPML Joint Venture’s larger 2023 definition drilling program designed to achieve an average drill spacing of approximately 30 metres within the currently modelled mineral resources reported in the 2022 PEA. This spacing is intended to upgrade the resources presently classified as Inferred to the Indicated category.

The Company would like to announce that as of September, Mr. Robin Adair has stepped down as Vice President of Exploration of Osisko Metals and has transitioned to Senior Technical Advisor for the PPML Joint Venture (holder of the Pine Point Project). The Company appreciates Mr. Adair’s significant contribution over the years, and we will continue to collaborate and benefit from his knowledge in his new role with PPML.