Osisko Mining Updates Windfall Mineral Resource Estimate

1.86M oz Au M&I Resource Averaging 9.6 g/t Au
4.24M oz Au Inferred Resource Averaging 8.0 g/t Au
TORONTO, Feb. 17, 2021 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to provide an updated mineral resource estimate (the “MRE”) for its 100% owned world-class Windfall gold deposit, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.This MRE is based on drilling completed as of September 2020, and includes analytical results received as of November 30, 2020.  Approximately 100,000 metres of drilling has been completed since the above dates, with a further 200,000 metres in progress and expected to be completed by the third quarter of 2021.  A subsequent MRE for the Windfall feasibility study will follow the completion of the infill program.HIGHLIGHTSM&I grade of 9.6 g/t Au continues trend of grade increase with infill programM&I ounces increased 54%Lynx represents over 60% of the total MRE ounces with average grades of 11.3 g/t Au Measured; 11.0 g/t Au Indicated; and 9.9 g/t Au InferredSignificant Lynx high-grade zones remain open to expansion down plungeRemainder of infill drilling is focused on Lynx with >30 drillsDiscovery and definition cost averages US$38/oz1Deposit average of 4.5 oz Au defined per metre drilledJohn Burzynski, Chief Executive Officer of Osisko Mining, commented: “We are pleased to deliver this updated MRE, as Windfall continues to impress with increasing average grade and scale.  The infill drill program is exceeding our expectations, with the M&I resource average grade increasing to 9.6 g/t Au.  We anticipate that by the end of the infill program and in the subsequent MRE, we will see another significant addition to the M&I resource with increased grade, and further growth of the deposit scale.  We have had strong infill results since the cut-off date that have not been included in this current estimate, and ongoing drilling continues to be encouraging as we work steadily towards the completion of our drill program.”Mr. Burzynski continued: “The past year has provided some unforeseen challenges, and despite this, we have managed to advance our work significantly.  We would like very much to thank our Cree First Nation hosts and partners, local and provincial governments, our employees and contractors, our stakeholders and our shareholders for their help and strong support.”Table 1: Windfall Gold Deposit Mineral Resource Estimate Sensitivity Table Table 2: Windfall Gold Deposit Mineral Resource Estimate by Area (3.5 g/t Au cut-off)

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