June 19, 2018 - 10:59 AM EDT
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Osisko Metals Intersects 9.25% Zinc+Lead Over 7.82 Metres at Pine Point

MONTREAL, June 19, 2018 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM) (FRANKFURT:OB51) is pleased to announce assay results from the remaining 33 shallow drill holes completed during the winter drill program along the Central Zone trend, which includes the Hinge Zone (“HZ”) Deposit, and along the East Mill Zone trend in the L27 and K35 deposits. Highlights from the HZ Deposit and L27 Deposit are: 

Pine Point East Zone Drill Campaign B7
Pine Point East Zone Drill Campaign B7

Pine Point HZ Deposit Drill Campaign Batch 7
Pine Point HZ Deposit Drill Campaign Batch 7

In the HZ deposit, drill hole HZ-18-PP-008 intersected 8.75% Zn and 0.49% Pb over 7.82 metres, and hole HZ-18-PP-002 intersected 9.16% Zn and 0.24% Pb over 5.10 metres. In the East Mill Zone – L27 deposit, hole EM-18-PP-092) intersected 2.7 metres grading 16.99% Zn and 4.35% Pb. All intersections are within near surface flat-lying tabular deposits. All intercepts reported in the HZ deposit are located above 83 metres depth. Reported intersections from the L27 deposit in the East Mill Zone are above 30 metres depth. (See 2018 Winter Drill Campaign East Mill Zone Map B7).

Highlights are listed below in Table 1 and details are provided in Tables 2 & 3.

Table 1:

Hole NameDepositFromToWidthLeadZincLead + Zinc

Note: Zinc + Lead grades are rounded to 1/100.

The Central Zone is a chain of deposits in intermittently mineralized dolomite alteration that trends over 7.5 kilometres and hosts the L65 deposit (see news release June 12th, 2018) and the HZ deposit. Relatively continuous mineralization is currently traced for 3.0 kilometres in strike length. The eastern end of the Central Zone is located 11 kilometres to the west of the electrical sub-station along the main haulage road. Multiple mineralized zones were intersected in 3 drill holes in the HZ deposit. Historical resources reported by Cominco Limited for the HZ Deposit are 1.9Mt at 3.8% Zn and 0.9% Pb. (See 2018 Winter Drill Campaign Hinge Zone Map B7).

The East Mill Zone (see news releases May 1st, May 15th, May 29th, June 7th, and June 12th, 2018) is a 7.6-kilometre trend that extends towards the east from the electrical substation area. Multiple mineralized intercepts were reported in 4 of the drill holes completed in the East Mill Zone. See Osisko Metals website for additional geological background on both the Central Zone and East Mill Zone.

Results from drilling to date are compatible with the historical Cominco Limited drill hole data base that has been compiled by the Company. Drilling is ongoing with the start of the summer program. One drill is active with 2 drills arriving shortly. An additional 6 drills are planned to arrive in early July. The summer drill program will consist of approximately 570 drill holes and will focus on the East Mill Zone and the Central Zone. This aggressive program is designed to bring the core areas to a drill spacing of approximately 30 metres to confirm historical intercepts drilled by Cominco Limited, required to utilize the historical holes in an upcoming compliant resource estimate. The majority of Cominco holes have been found in the field and locations are being surveyed to required standards.

Note regarding historical resource and Qualified Person

The above-mentioned historical resources do not conform to National Instrument 43-101 standards. The Company is reporting the historical estimates for reference purposes only. Neither Osisko Metals nor its consultants have completed sufficient work to verify the historical estimates and these should not be relied upon for investment purposes. A Qualified Person has not done sufficient work to classify the historical estimates as NI43-101 compliant mineral resources and there is no guarantee that such work will allow conversion of such historical resources. (I would suggest to remove the historical reference within the text to omit the disclosure or keep the historical reference but include the disclosure in the foot notes or cautionary statement)

Stanley G. Clemmer, P. Geo is the Qualified Person responsible for the technical data reported in this news release. He is a Professional Geologist registered in the Northwest Territories and is Chief Geologist for Pine Point Mining Limited, a wholly owned subsidiary of Osisko Metals Limited.

Quality Assurance / Quality Control

Osisko Metals adheres to a strict Quality Assurance and Quality Control program with regard to core handling, sampling, transportation of samples and lab analyses. Drill core samples from the Pine Point project area were securely transported to its core facility in Hay River, Northwest Territories where they were logged and sampled. Samples selected for assay were shipped via secure transportation to the ALS Canada Ltd’s preparation facility in Yellowknife. Pulps were analyzed at the ALS Canada Ltd. facility in North Vancouver, British Columbia. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for ultra-trace level detection for a multi-element suite with a 1% upper detection limit for base metals.  Samples reporting over 1% for Zn and 1% for Pb are analyzed by assay grade four acid digestion and ICP-AES analysis with an upper detection limit of 30% and 20% respectively.  Samples reporting Zn >30% and or Pb >20% are analyzed by traditional titration.

Table 2: Composite Assay Results

Hole NameAreaHistorical
FromToWidthTrue WidthLeadZincLead + Zinc
HZ-18-PP-001CentralHZNo significant results
EM-18-PP-077East MillK3524.7025.650.950.820.0915.0015.09
EM-18-PP-082East MillK3538.2040.302.101.820.190.951.14
EM-18-PP-052East MillL2712.3513.300.950.820.141.031.17
EM-18-PP-052East MillL2719.5020.901.401.210.091.341.43
EM-18-PP-053East MillL27No significant results
EM-18-PP-055East MillL2724.3526.502.151.763.8312.5216.35
EM-18-PP-058East MillL2720.7022.101.401.211.123.955.07
EM-18-PP-058East MillL2728.6029.100.500.430.031.551.58
EM-18-PP-058East MillL2730.3531.200.850.740.152.832.98
EM-18-PP-059East MillL2717.1619.252.091.812.220.532.75
EM-18-PP-059East MillL2724.9027.602.702.340.162.522.68
EM-18-PP-059East MillL2730.0031.001.000.870.011.511.52
EM-18-PP-060East MillL2725.0527.232.181.791.403.054.45
EM-18-PP-060East MillL2736.0038.552.552.090.091.421.51
EM-18-PP-064East MillL2728.5035.106.605.410.482.613.09
EM-18-PP-065East MillL27No significant results
EM-18-PP-069East MillL2726.1027.
EM-18-PP-072East MillL2717.8018.400.600.522.554.587.13
EM-18-PP-074East MillL2720.2521.150.900.822.607.4710.07
EM-18-PP-074East MillL2724.9025.500.600.540.062.782.84
EM-18-PP-075East MillL2710.0011.901.901.560.231.521.76
EM-18-PP-075East MillL2713.3514.000.650.530.341.892.23
EM-18-PP-075East MillL2716.4017.050.650.530.530.841.37
EM-18-PP-076East MillL2723.2524.401.150.941.8310.5312.35
EM-18-PP-084East MillL2716.3016.650.350.272.5510.0012.55
EM-18-PP-085East MillL2714.7515.801.050.910.022.622.64
EM-18-PP-085East MillL2718.9519.550.600.520.372.793.16
EM-18-PP-085East MillL2720.9022.351.451.
EM-18-PP-086East MillL27No significant results
EM-18-PP-087East MillL2718.3019.301.000.870.832.423.25
EM-18-PP-090East MillL27No significant results
EM-18-PP-091East MillL2720.8523.752.902.511.306.227.51
EM-18-PP-092East MillL2715.1017.802.702.454.3516.9921.34

Highlights: Note: Lead + Zinc grades may not add up exactly due to rounding to two decimal places.

Table 3: Drill hole collar locations (UTM NAD83 zone 11)

Hole NameDepositAreaEastingNorthingElevationAzimuthDipDepth (m)
EM-18-PP-077East MillK35642541.76751683.1214.8510-6057.00
EM-18-PP-082East MillK35642642.16751701.4214.6520-6066.00
EM-18-PP-046East MillL27645378.46752958.4213.820-9033.00
EM-18-PP-052East MillL27645307.06752979.3213.3235-6036.00
EM-18-PP-053East MillL27645293.76752950.2213.3520-6042.00
EM-18-PP-055East MillL27645200.86752940.2213.09335-5542.00
EM-18-PP-058East MillL27645171.26753022.8214.25325-6048.00
EM-18-PP-059East MillL27645169.16752972.1213.9045-6042.00
EM-18-PP-060East MillL27645143.86753006.2214.19340-5545.00
EM-18-PP-064East MillL27644968.16753055.2214.6785-5548.00
EM-18-PP-065East MillL27645012.96753083.6213.89220-6542.00
EM-18-PP-069East MillL27645041.26753086.2213.780-9042.00
EM-18-PP-072East MillL27645040.16753030.0215.19225-6048.00
EM-18-PP-074East MillL27644992.16752973.7215.75145-6536.00
EM-18-PP-075East MillL27645011.86752995.0215.61315-5548.00
EM-18-PP-076East MillL27645015.86752990.8215.81140-5554.00
EM-18-PP-084East MillL27645046.16752955.4215.140-5051.00
EM-18-PP-085East MillL27645001.36752931.5214.8510-6039.00
EM-18-PP-086East MillL27645045.46752892.3214.2670-6039.00
EM-18-PP-087East MillL27645035.86752861.1214.18220-6036.00
EM-18-PP-090East MillL27644991.46752869.8214.8975-6045.00
EM-18-PP-091East MillL27644993.66752870.1214.62210-6045.00
EM-18-PP-092East MillL27645000.06752828.7214.18335-6539.00

About Osisko Metals

Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on zinc mineral assets. The Company controls Canada’s two premier zinc mining camps in Canada, namely the Pine Point Camp (“PPMC”) located in the Northwest Territories (22,000 ha) and the Bathurst Mining Camp (“BMC”), located in northern New Brunswick (63,000 ha). The Company is currently drilling in both mining camps for a combined 100,000 metre program.  The focus of these programs is to upgrade historical resources to comply with NI43-101 regulations and also on exploration around historical deposits. Brownfield exploration includes new innovative 3D compilation techniques, updated geological interpretation, and modern geophysics. In Québec, the Company owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. In parallel, Osisko Metals is monitoring several base metal-oriented peers for opportunities.

For further information on Osisko Metals, visit www.osiskometals.com or contact:

Jeff Hussey

President & CEO
Osisko Metals Incorporated
(514) 861-4441
Email: [email protected]
Christina Lalli
Director, Investor Relations
Osisko Metals Incorporated
(514) 861-4441
Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; an exemption being available under MI 61-101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valuation requirements for each related party transaction; objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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Source: GlobeNewswire (June 19, 2018 - 10:59 AM EDT)

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