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Osisko Mining Provides Update on Wildfire Situation and Sustainable Development

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Reviewed by Laura ThomsonJul 19 2023Reviewed

Osisko Mining Inc. ("Osisko" or the "Corporation") is pleased to provide the following corporate update.

Wildfire Situation in Eeyou Istchee James Bay

On July 17, Québec's Ministry of Natural Resources and Forests lifted the access restriction to forests and roads on Crown land in the Eeyou Istchee James Bay area surrounding the Windfall site. To help and support provincial fire-fighting efforts, Windfall camp is lodging over 100 firefighters from the Québec fire-fighting agency, Société de Protection des Forêts Contre le Feu (SOPFEU), who are using the Corporation's facilities as a base to fight regional fires. Windfall will resume underground drilling activities later this week, and increase all other regular site activities back to normal levels as the local fire situation continues to improve in the coming weeks.

John Burzynski, Chairman and Chief Executive Officer, commented: "The Windfall team has done a fantastic job during the past six weeks – a difficult and challenging period, working hand-in-hand and maintaining constant communications with local and provincial authorities to coordinate efforts. Their combined efforts helped maintain the Windfall site infrastructure intact. We were very fortunate that the forest fires passed within the immediate vicinity of the camp facilities several times, but did not cause any material damage to Windfall. Our thoughts and those of our joint-venture partner Gold Fields remain with those local community members and neighbors who were displaced, and those who lost their hunting and fishing cabins in the past month."

Sustainable Development Report

The Corporation published its 2022 Sustainable Development Report on July 18, 2023, which provides a detailed overview of the environmental, social, and governance performance (ESG) and economic contributions in the communities in which we operate. The report is available on the Osisko website (www.osiskomining.com) in English and French.

Sustainability is anchored in Osisko's business strategy through the Health and Safety, Human Resources, Environmental, Community Relations, Human Rights and Responsible Procurement policies. In 2022, Osisko Mining achieved several milestones and made significant organizational progress. In addition, Osisko has strengthened its support for renewable energies through its agreement with Miyuu Kaa for the transmission of hydroelectric power to the Windfall site. The 2022 Sustainable Development Report covers Osisko's activities on our Windfall, Quévillon, and Urban Barry projects. It describes our ESG performance from January 1 to December 31, 2022, and provides comparative data from previous years.

Osisko would like to thank employees, First Nations, host communities, financial and government partners, as well as shareholders, for their continued trust and support in its drive towards sustainable development.

Permitting Process and IBA

The Windfall Environmental Impact Assessment review process by the COMEX is following its course and the Corporation is expecting that the Windfall Mining Group will receive the first round of follow-up questions in the coming months.

In parallel, the Corporation expects to finalize the Impact and Benefit Agreement with the Cree First Nation of Waswanipi and the Cree Nation Government in 2023.

Receipt of Mill Shells

The Windfall Mining Group took delivery of their mill shells last month. All equipment is being stored at a warehouse located in Saint-Gabriel de Brandon, Québec until its final installation at the Windfall Project.

Source:

https://www.osiskomining.com/

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