Osisko Metals Announces Grant of Options

MONTREAL, Oct. 07, 2022 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the “Company” or “Osisko Metals“) (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) wishes to announce that the Company’s Board of Directors have approved the grant of incentive stock options to certain directors, officers, key employees and key consultants to purchase up to an aggregate of 2,680,000 common shares in the capital stock of the Company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $0.32 per share.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals space. The Company controls one of Canada’s premier past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories for which the 2022 PEA has indicated an after-tax NPV of $603M and an IRR of 25% is based on the current Mineral Resource Estimates that are amenable to open pit and shallow underground mining and consist of 15.7Mt grading 5.55% ZnEq of Indicated Mineral Resources and 47.2Mt grading 5.94% ZnEq of Inferred Mineral Resources. Please refer to the technical report entitled “Preliminary Economic Assessment, Pine Point Project, Hay River, Northwest Territories, Canada” dated July 30, which has been filed on SEDAR. The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, paved highway access, and has an electrical substation as well as 100 kilometres of viable haulage roads already in place.

The Company also hold a 100% interest in the past-producing Gaspé Copper Project located near Murdochville in the Gaspé peninsula of Quebec including the Copper Mountain Expansion Deposit that hosts a NI43-101 Inferred Resource of 456Mt grading 0.31% Cu. The Gaspe Copper Project is the largest untapped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Quebec.

For further information on this press release, visit www.osiskometals.com or contact:

Robert Wares, CEO Osisko Metals Incorporated

Email: [email protected]
www.osiskometals.com

 

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