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Osisko Mining Provides Update on Garrison Gold Project

Osisko Mining Inc. ("Osisko" or the "Corporation") provides an update on the progress of exploration activities ongoing at its 100% owned Garrison gold project situated in Garrison Township, Ontario.

Since early 2016, Osisko has been carrying out new exploration and definition drilling operations at Garrison for 20 months. As of the end of January 2018, the company has completed 85,000 meters of new drilling in order to complement the pre-existing 108,000 meters drilled at Garrison gold project by earlier operators.  

After re-evaluating the earlier drilling from the Jonpol Zone, Osisko continued resource delineation at the Garrcon Zone and considerably expanded the 903 Zone with exploration drilling work in the property’s southwest area. During 2017, geological mapping and dewatering of the Garrcon bulk sample pits were carried out. Work is ongoing with regards to the interpretation of the geological model of the 903 and Garrcon zones, including structural controls of the mineralization.

Exploration Budget for 2018: $3M

Osisko Mining’s 2018 exploration budget for the Garrison deposit totals about $3 million. This comprises of resource estimation work, metallurgical work, additional resource-oriented infill drilling, and exploration drilling on the Garrison property.

Garrison: Updated Resource Estimation Planned for July 2018

The company’s updated resource estimate for the Garrison gold project is set to be launched in July 2018. The Garrison property comprises of three mineralized zones with varying styles: the Jonpol Zone comprises 1.7 km of structurally controlled mineralization along the Munro Shear Zone hosted by mafic to ultramafic volcanic rocks; the Garrcon Zone is hosted by Temiskaming sediments in the footwall of the Destor Porcupine Fault Zone (PDFZ), and the 903 Zone is hosted by syenite dykes encroaching ultramafic rocks along the PDFZ. The Jonpol zone remains open to the southwest, while the 903 zone remains open to the northwest property. The 2018 updated resource will include the 903, Jonpol, and Garrcon zones.

Property Disposals

Throughout the course of 2017, Osisko distributed the Swayze, Catharine, and DeSantis exploration projects to other mining firms.

Although our main focus is on the Windfall project in Québec, Osisko has continued work on the Garrison project, with the goal of updating the resource and improving our understanding of the potential of the Garrcon, Jonpol and 903 zones. Drilling in 2017 was successful at significantly expanding the size of the 903 Zone. Our upcoming July resource estimate will include all three zones (Garrcon, Jonpol and 903), and we will continue to evaluate the extensions of known mineralization with exploration drilling in 2018.

John Burzynski, President and CEO of Osisko Mining

Qualified Person

Mr. Gernot Wober, P.Geo. VP Exploration Canada for Osisko Mining Inc. reviewed, prepared, and approved the scientific and technical content of this press release. Mr. Wober is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

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