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Indicated Resource:  1.21M oz Au averaging 9.1 g/t Au Accepted Resource:   3.94M oz Au averaging 8.4 g/t Au



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TORONTO, Feb. 19, 2020 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is admiring to accommodate an adapted mineral adeptness appraisal for its 100% endemic Windfall gold deposit, amid in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.



Highlights

John Burzynski, President and Chief Executive Officer of Osisko, commented: “We accept been assured back Osisko apparent Lynx in 2016 that we had addition world-class gold drop developing at Windfall. The cardinal of ounces and boilerplate brand at Lynx has connected to admission as we beforehand the adeptness infill drilling.  Recent Lynx aggregate sample after-effects (see Osisko account absolution of December 11, 2019) additionally showed adaptation decidedly aloft predicted block archetypal grades and alternate college than advancing gold recovery.  Able abeyant for amplification charcoal in the accepted Lynx zones, the majority of which are accessible forth bang to the northeast and bottomward attempt beneath 1,200 metres.  The Triple 8 discovery, at about 1,500 metres vertical depth, was not included in the accepted mineral adeptness appraisal but hosts accomplished abeyant to add cogent ounces with added drilling.”



Located in Québec, one of the best mining jurisdictions in the world, this mineral adeptness appraisal moves Windfall to world-class cachet in agreement of calibration and grade.  Osisko has afresh completed 1 actor metres of conduct at Windfall, including the longest architecture assignment aperture in Canada which has apparent able break that the Windfall gold arrangement extends to base aloft 2.5 kilometres.

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Mr. Burzynski continued: “We accept avant-garde the Windfall Project rapidly over the advance of the accomplished four years.  It’s account acquainted that associates of our management, lath and abstruse aggregation accept collectively formed on three apple chic gold deposits apparent in Québec over the accomplished fifteen years – Canadian Malartic, Éléonore, and now Windfall.  I am awfully appreciative of our analysis and engineering teams, abstruse and non-technical advisers and contractors, and ambition to acknowledge them for their committed assignment on the Windfall Project.  We are beholden to our Cree First Nation ally for their balmy acceptable and abetment in our assignment on their acceptable breadth and attending advanced to advancing the Windfall Project with them.  I additionally ambition to acknowledge all of our stakeholders and shareholders for their advancing able support.”

This mineral adeptness appraisal is the aftereffect of 2,941 assignment holes (1,101,008 metres) in the adeptness area, including 2,280 assignment holes (918,273 metres) completed by Osisko from October 2015 to January 3, 2020. The Windfall mineral adeptness appraisal (with an able date of January 3, 2020) was able by Osisko and advised and audited by Micon International Limited, Toronto, Ontario. The abounding abstruse report, which is actuality able in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI43-101”), will be accessible on SEDAR (www.sedar.com) beneath the Corporation’s issuer contour aural 45 days.

Drilling continues at Windfall with 19 rigs absorption on abstinent and adumbrated mineral adeptness about-face for the planned achievability study. Added drills are committed to exploring bottomward attempt extensions of Lynx, exploring the adjacent Fox deposit, and bounded ambition evaluation.  The analysis admission is advancing to accommodate added admission for underground infill drilling, and awaiting admittance approvals, the accumulating of a third aggregate sample added in the Lynx area.

This mineral adeptness appraisal reflects the accepted cachet of the geological admiration accurate by infill drilling, underground mapping and aggregate sample results. Most mineralized envelopes in the Main breadth are associated with pyritic stringers occurring abreast contacts amid agitable rocks and adolescent advancing rocks. The Lynx mineralization zones anatomy an all-encompassing anastomosed arrangement of quartz-rich and pyrite-rich veins hosted aural acerb silicified agitable rocks. This arrangement is amid on the southern limb of an accessible bend coast at 40 degrees appear ENE forth the Bank fault-shear zone. The adeptness admiration includes a absolute of 292 mineralization zones authentic by alone wireframes with a minimum accurate array of 2.0 metres. The adeptness letters brand blocks central volumes potentially mineable by underground methods at a absolute brand of 3.5 g/t Au.

Windfall Gold Drop Mineral Adeptness Appraisal Notes

Qualified PersonThe Windfall mineral adeptness estimate, with an able date of January 3, 2020, was (i) able by Judith St-Laurent, P.Geo (OGQ #1023)., B.Sc., Senior Adeptness Geologist of Osisko, and (ii) advised and accustomed by Charley Murahwi, M.Sc, P.Geo., FAusIMM, anniversary of whom is a “qualified person” aural the acceptation of NI 43-101. Mr. Murahwi is an agent of Micon International Limited and is advised to be “independent” of Osisko for purposes of breadth 1.5 of NI 43-101. The accurate and abstruse agreeable in this account absolution has been advised and accustomed by Mr. Mathieu Savard, P.Geo (OGQ #510), Senior Vice President Analysis of Osisko, who is a “qualified person” aural the acceptation of NI 43-101.

Quality Control and Reporting ProtocolsAll NQ amount assays appear were acquired by either 1-kilogram awning blaze appraisal or accepted 50-gram fire-assaying-AA accomplishment or gravimetric accomplishment at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram awning appraisal adjustment is called by the geologist back samples accommodate base gold or present a college allotment of pyrite than surrounding intervals. Called samples are additionally analyzed for multi-elements, including silver, application an Aqua Regia-ICP-AES adjustment at ALS Laboratories. Assignment affairs design, Quality Assurance/Quality Control (“QA/QC”) and admiration of after-effects is performed by able bodies employing a QA/QC affairs constant with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as able-bodied as the lab. About 5% of sample pulps are beatific to accessory laboratories for analysis assay.

About the Windfall Gold DepositThe Windfall gold drop is amid amid Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral adeptness authentic by Osisko, as appear in this account absolution and bold a absolute brand of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the adumbrated mineral adeptness class and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the accepted mineral adeptness category. The key assumptions, ambit and methods acclimated to appraisal the mineral adeptness appraisal appear in this account release, assertive of which are declared in this account release, will be added declared in the abounding abstruse address actuality able for this adapted mineral adeptness appraisal in accordance with NI 43-101, and will be accessible on SEDAR (www.sedar.com) beneath the Corporation’s issuer contour aural 45 days. The Windfall gold drop is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three arch zones: Lynx, Main Zone, and Underdog.  Mineralization is about comprised of sub-vertical zones afterward advancing porphyry contacts coast to the northeast. The drop is able-bodied authentic from apparent to a abyss of 1,200 metres and charcoal accessible forth bang and at depth. Mineralization has been articular 30 metres from apparent in some areas and as abysmal as 2,000 metres in others, with cogent abeyant to extend mineralization down-plunge and at depth.

About Osisko Mining Inc.Osisko is a mineral analysis aggregation focused on the acquisition, exploration, and development of adored metal adeptness backdrop in Canada. Osisko holds a 100% absorption in the high-grade Windfall gold drop amid amid Val-d’Or and Chibougamau in Québec and holds a 100% absorbed absorption in a ample breadth of claims in the surrounding Urban Barry breadth and adjacent Quévillon breadth (over 2,700 aboveboard kilometres).

Cautionary Statements Regarding Estimates of Mineral ResourcesThis account absolution uses the agreement measured, adumbrated and accepted mineral assets as a about admeasurement of the akin of aplomb in the adeptness estimate. Readers are cautioned that mineral assets are not mineral affluence and that the bread-and-butter activity of assets that are not mineral affluence has not been demonstrated. The mineral adeptness appraisal appear in this account absolution may be materially afflicted by geology, environmental, permitting, legal, title, socio-political, business or added accordant issues. It is analytic accepted that the majority of Accepted Mineral Assets could be upgraded to Adumbrated Mineral Assets with connected exploration. The mineral adeptness appraisal is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Assets and Mineral Reserves” congenital by advertence into NI 43-101 (“CIM”). Beneath NI 43-101, estimates of accepted mineral assets may not anatomy the base of achievability or pre-feasibility studies or bread-and-butter studies except for basic bread-and-butter assessments. Readers are cautioned not to accept that added assignment on the declared assets will advance to mineral affluence that can be mined economically.

Cautionary Note Regarding Forward-Looking InformationThis account absolution contains “forward-looking information” aural the acceptation of the applicative Canadian balance legislation that is based on expectations, estimates, projections and interpretations as at the date of this account release. Any account that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, approaching contest or achievement (often, but not always, application phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or advertence that assertive actions, contest or after-effects “may” or “could”, “would”, “might” or “will” be taken to action or be achieved) are not statements of absolute actuality and may be advanced advice and are advised to analyze advanced information. This account absolution contains the advanced advice pertaining to, amid added things: the Windfall Lake gold drop actuality one of the highest-grade resource-stage gold projects in Canada and accepting world-class scale; the key assumptions, ambit and methods acclimated to appraisal the mineral adeptness appraisal appear in this account release; the prospects, if any, of the Windfall Lake gold deposit; timing and adeptness of Osisko to book a abstruse address for the mineral adeptness appraisal appear in this account release; the timing and adeptness of Osisko, if at all, to broadcast a achievability abstraction for the Windfall Lake gold deposit; the projected basic expenditures of mining activities at the Windfall Lake gold deposit; advance an accepted mineral adeptness to a abstinent mineral adeptness or adumbrated mineral adeptness category; approaching conduct at the Windfall gold deposit; the drop absolute accessible forth bang to the northeast and at depth; cogent high-grade zones (Lynx 4, Triple Lynx) absolute accessible bottomward plunge; the attempt abeyant of the Lynx and Underdog zones; the acceptation of celebrated analysis activities and results. Such factors include, amid others, risks apropos to the adeptness of analysis activities (including assignment results) to accurately adumbrate mineralization; errors in management’s geological modelling; the adeptness of Osisko to complete added analysis activities, including drilling; acreage and adeptness interests in the Windfall Lake gold deposit; the adeptness of the Corporation to access appropriate approvals; the after-effects of analysis activities; risks apropos to mining activities; the all-around bread-and-butter climate; metal prices; dilution; ecology risks; and association and non-governmental actions. Although the advanced advice independent in this account absolution is based aloft what administration believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and -to-be purchasers of balance of the Corporation that absolute after-effects will be constant with such advanced information, as there may be added factors that account after-effects not to be as anticipated, estimated or intended, and neither Osisko nor any added being assumes albatross for the accurateness and abyss of any such advanced information. Osisko does not undertake, and assumes no obligation, to amend or alter any such advanced statements or advanced advice independent herein to reflect new contest or circumstances, except as may be appropriate by law.

CONTACT INFORMATION:John BurzynskiPresident & Chief Executive OfficerTelephone (416) 363-8653

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