July 24, 2018 - 8:44 AM EDT
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Summer Drill Campaign is Accelerated at Pine Point as Osisko Metals Increases the Drill Count

MONTREAL, July 24, 2018 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM) (FRANKFURT:OB5) is pleased to provide an exploration update at its 100% owned Pine Point project, as the Company has resumed drilling following spring break-up. Osisko Metals is currently executing one of Canada’s largest base metal exploration programs in two of Canada’s premiere former zinc producing mining camps.

Osisko Metals Summer Exploration Update at Pine Point
Osisko Metals Summer Exploration Update at Pine Point

The objective of the 2018 drill program at Pine Point is to convert 50Mt of unclassified near-surface historical resources to NI43-101 Inferred and Indicated Resources by Q1 2019. In order to remain on track with its objective, the Company applied for and obtained the necessary permits to increase its drill rig count, going from 3 to 7 drills within the next two weeks.

Jeff Hussey, President and CEO of Osisko Metals, commented: “The team has been working diligently at obtaining the permits to allow us to increase the number of drill rigs at Pine Point. It’s our intention to keep moving this project forward aggressively in order to capitalize on the current favorable zinc market fundamentals. Delivering the resource remains a priority for us to unlock the true value potential of this camp. We expect to proceed with an extensive brownfield exploration campaign in 2019 following the historical resource conversion program.”

The majority of the drilling will continue to be focused within the central 20-kilometre long portion of the property that is located near infrastructure and accessed by paved highway. This area includes the East Mill and Central Zones, where mineralization is shallow and where new compliant resources will form the resource base for future studies (See Figure 1). Over 9,000 metres in total have been drilled to date in 2018 of the planned minimum 50,000-meter campaign.

In parallel with the ongoing drilling, the compilation of Cominco’s historical exploration data is underway in order to prepare for regional brownfield exploration drilling and for an airborne gravity survey that will be conducted following the 2018 conversion program of the historical deposits. The high resolution airborne gravity survey will assist Osisko Metals in identifying new targets both along strike and at depth. The favorable stratigraphy across the Pine Point camp is up to 300 metres thick, allowing for excellent brownfield exploration potential at depth.

Note regarding historical resource and Qualified Person

The above-mentioned historical resources do not conform to National Instrument 43-101 standards. The mention of historical resources is 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.

Robin Adair, P. Geo and Vice President Exploration for Osisko Metals Incorporated is the Qualified Person responsible for the technical data reported in this news release. He is a Professional Geologist registered in the New Brunswick and Quebec.

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.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a9d7e2ce-4747-43b9-8715-b7302e8f911c

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Source: GlobeNewswire (July 24, 2018 - 8:44 AM EDT)

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