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Osisko Mining Announces 2010 Drilling Results from Barnat Extension

Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX) has announced results from the 2010 definition drill program on the Barnat Extension, located on Osisko's 100%-owned Canadian Malartic property, contiguous to the east end of the current in-pit reserves of the Canadian Malartic and Barnat deposits.

The eighty-hole, 18,000 metre definition drilling program, presently being executed along 25 metre-spaced sections, was started in spring 2010 following encouraging preliminary results obtained in 2009.

Highlights include 107.0 metres averaging 2.14 g/t Au (BA10-3901), 64.1 metres averaging 5.03 g/t Au (BA10-3881) and 81.0 metres averaging 1.88 g/t Au (BA10-3886). Assay data from these holes are not included in the current resource block model, and in the majority of cases represent new mineralization and new ounces outside the current resource block model. Mineralized intersections between sections 5950E and 6150E are below or slightly within the existing engineering pit, and holes to the east of section 6150E are outside the current engineered pit.

Results for holes BA10-3868, BA10-3893, BA10-3896, BA10-3898 and holes BA10-3902 to -3926 are pending. The next series of holes that are currently being drilled for this program are BA10-3954 to -3972.

The drill data suggest the Barnat Extension comprises two mineralized zones that parallel to the southern limit of the Cadillac fault. The northerly extension (Sheehan Zone) is located within the Cadillac Fault and is hosted mostly by mineralized porphyry within sheared and altered ultramafic rocks. This zone is subvertical and 12 metres true thickness on average (range of 2 to 28 metres). The southerly extension (Mammoth Zone) is located in Pontiac sediments, about 35 metres south of the Sheehan Zone. This zone comprises silicified porphyry and metasediments similar to those of the Canadian Malartic deposit. This zone dips subvertically to the north near surface and reverses to a 75 degree dip to the south at depth. Its average true thickness is 25 metres, although drill hole BA10-3901 has outlined previously unknown and more extensive mineralization towards the south, suggesting a minimum thickness in that sector of 60 metres. Both zones have been traced along a strike length of 200 metres in the immediate area of the old East Malartic mine workings, and both zones are open to the east and at depth.

Sean Roosen, President and CEO of Osisko, commented: "The positive results from the new Barnat Extension drilling, in addition to what Osisko and Golden Valley Mines have already reported from the Jeffrey Zone located one kilometer further to the east, suggest there is excellent potential to discover new, higher-grade ore on the Canadian Malartic project. These two deposits will almost certainly provide future feed and thereby extend the life of the milling complex."

All NQ core assays reported above were obtained by standard 50 g fire assaying-AA finish or gravimetric finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported drill core weighted averages were calculated using a minimum of 0.34g/t Au over successive intervals of 20 metres. The reported lengths of isolated mineralized intervals were minimized, and an upper cut-off of 30 g/t Au was applied to individual assays where indicated. Intersected drifts or lost core within mineralized intersections were incorporated as blank intervals.

Osisko follows strict QA-QC protocol measures in keeping with industry standards and regulatory reporting requirements. Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, and Mr. François Bouchard, P. Geo., are the Qualified Persons who has reviewed this news release and are responsible for the technical information reported herein, including verification of the data disclosed including the sampling, analytical and test data underlying the technical information.

Source:

Osisko Mining Corporation

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