Additional Drill Results At Mount Copper

MONTREAL - Osisko Metals Incorporated reported on final drilling results from the 2022 program at the Gaspé Copper Project, located in the Gaspé Peninsula of Quebec. Five of the six holes were collared along the periphery of the historical Mount Copper open pit, including one low-angle directional drill hole (30-1003) oriented to crosscut the higher-grade mineralization located below the bottom of the existing open pit, and one hole (30-992) was collared on the eastern flank of Mount Copper.

Drill hole 30-1003, drilled shallowly towards the west under the existing pit, intersected 300.0 meters grading 0.55% Cu, 3.59g/t Ag, and 0.02% Mo, followed by an additional 244.5 meters grading 0.32% Cu, 1.41g/t Ag, and 0.02% Mo. This hole extended mineralization beyond the lower limit of the current block model by 107 meters. Drill hole 30-0998A, drilled shallowly towards the west under the existing pit, intersected 255.0 meters grading 0.34% Cu, 2.73g/t Ag, and 0.02% Mo. This hole ended within the limit of the block model and met the expected grades.

Drill hole 30-1010, drilled towards the south under the existing pit, intersected 304.5 meters grading 0.54% Cu, 3.43g/t Ag, and 0.04% Mo. This hole extended mineralization 122 meters above the block model and ended in weak mineralization, extending 56 meters beyond the lower limit of the block model. Drill hole 30-1015, drilled towards the east between Mount Copper and the existing pit intersected 300.0 meters grading 0.18% Cu, 1.10g/t Ag, and 0.01% Mo, followed by an additional 150.0 meters grading 0.33% Cu, 2.40g/t Ag, and 0.02% Mo. This hole extended mineralization beyond the lower limit of the block model by 117 meters.

Robert Wares, Chairman & CEO, said, “The 2022 infill drilling was successful in better defining and potentially expanding the in-pit resource at Mount Copper. Drilling will resume in June and the upcoming summer program will allow conversion of the 2022 Inferred Mineral Resource Estimate to the Measured and Indicated category, in preparation for an eventual feasibility study. The Company also plans on drill testing the deep-seated Porphyry Mountain Deposit in 2023, as well as residual high-grade massive sulfide mineralization previously reported in the E Zone.”