Osisko Mining Corp. | Company Profil

About the Company

Osisko Mining Corporation is a mine developer based in Montréal, Québec, Canada, with a published NI 43-101 compliant positive feasibility study for an open pit operation that will produce 591,000 ounces of gold per year over a ten-year mine life. The study revealed operating costs of US$319 per ounce, ranking it in the lowest cost quartile among global gold producers.

The 100%-owned Canadian Malartic flagship property is adjacent to Highway 117 in the town of Malartic at the heart of the historic Abitibi mining district in Québec, an area already equipped with extensive existing infrastructure. The Canadian Malartic deposit currently represents one the biggest gold reserves in Canada for a single deposit, and is still growing through ongoing drilling on new mineralized zones, like the Barnat deposit. An initial resource calculation was published on January 26, 2009, for this separate gold mineralization zone located northeast of the main deposit and for which the grades have consistently averaged nearly double those of the main Canadian Malartic deposit.

Current reserves for the Canadian Malartic property are 6.28 million ounces1, plus an indicated resource of 1.4 million ounces2 and an inferred resource (including the Barnat deposit) of 2.75 million ounces3. The maximum open-pitable depth is 375 meters and the potential at depth will be investigated during Phase Four of the exploration program. An extensive 200,000-metre definition and exploration drilling program is underway in 2009 on five mineralized zones and high potential exploration targets on the property. As of the end of February 2009, eight drills were operating on the Malartic property.

On February 25, 2009, Osisko closed a C$403 million bought-deal financing. The Corporation also concluded more than C$280 million in equity financing during the previous 36 months, and cash on hand at the end of the third quarter in 2008 was C$139 million.

1 NI 43-101 Proven and Probable Reserves:
   5.16 Mt @ 1.14 g/t Au and 178.2 Mt @ 1.06 g/t Au

2 NI 43-101 Indicated Resource: 54 Mt @ 0.81 g/t Au

3 NI 43-101 Inferred Resource: 73.7 Mt @ 1.05 g/t Au

For more detailed information about the projects and the company in general, please visit the website of Osisko Mining Corporation.

Contact: