Purchased Royalties Add Multiple Hundreds Of Kilometers In West Kenya

MONTREAL - Sandeep Singh, President and CEO of Osisko Gold Royalties Ltd., said, “We are pleased to add, to our portfolio, royalties on prospective projects that are multiple-hundreds of square kilometers in size. West Kenya, the most advanced asset, comprises a district-scale 1,162km2 land package which already contains a robust initial high-grade resource with a potential long life, low cost, high return project. Recent drill results, which rank amongst the best in the sector, highlight the high grade nature of the deposit and its growth potential. The project is an important growth asset for Shanta Gold, a company with an operating mine in the region and the ability to fast-track towards production. This latest suite of royalties underscores Osisko’s ongoing discipline towards acquiring high quality royalties and streams with attractive rates of return.”

The Company has concluded a transaction with Barrick TZ Limited to acquire the royalties for a 2% NSR royalty on the AfriOre and Gold Rim licenses comprising the West Kenya project operated by Shanta Gold Limited, a 1% NSR royalty on the Frontier project operated by Metalor SA, a private company, and a 1% NSR royalty on the Central Houndé project operated by Thor Explorations Ltd.