Osisko Metals’ high-quality polymetallic assets present a compelling investment opportunity amid a rapidly expanding critical and base metals market, as North America continues to strengthen its domestic supply.
Osisko Metals (TSXV:OM) is an exploration and development company focusing on two base metal assets in Canada – Gaspé Copper and Pine Point – targeting copper and zinc, both critical minerals necessary for the global transition to clean energy. These assets are past-producing, brownfield projects of significant potential for future production.
The Gaspé Copper project in Québec has a rapid development plan to begin mining the indicated resource of 824 million tons (Mt) of ore grading 0.34 percent copper equivalent. As the gap between available copper supply and growing demand widens, Osisko Metals is well-positioned to help create and strengthen a domestic supply chain for the North American market.
The company’s Pine Point zinc-lead project in the Northwest Territories contains an indicated mineral resource estimate of 49.5 million tons at 4.2 percent zinc and 1.5 percent lead, in addition to significant inferred resources. Zinc is a necessary mineral for the clean energy transition and has important applications throughout the manufacturing industry. This widespread use of this mineral has analysts cautioning about a looming supply shortage.
A preliminary economic assessment (PEA) completed in 2022 indicates the Pine Point project has the potential to become a world-class, high-grade zinc asset, with an after-tax net present value (NPV) of C$602 million and internal rate of return (IRR) of 25 percent. A feasibility study is now fully underway, with an expected completion date in Q2 2025.
In February 2023, Osisko Metals announced a C$100-million investment agreement with Appian Natural Resources Fund III for a joint venture on the Pine Point project. The agreement includes C$75.3 million of funding for the project and up to C$24.7 million in cash payments to Osisko Metals. Pine Point Mining Limited (PPML) and the Town of Hay River have also signed a memorandum of understanding (MOU) to seize opportunities for long-term sustainable growth for Hay River through the development and operations of the Pine Point mining project.
Led by a management team with a wide range of expertise throughout the natural resources industry and experience in geology, exploration, corporate finance and corporate administration, Osisko Metals is well-poised to become a world-class supplier of base metals.
The Gaspé Copper project in Québec is among the most significant copper development projects in eastern North America. Osisko Metals completed the 100-percent acquisition of Gaspé Copper in July 2023 and has since commenced drilling at the property. Québec has a well-known reputation as one of the most mining-friendly jurisdictions in North America, with a long history of copper production.
The Pine Point asset in the Northwest Territories has the infrastructure in place to help the company move the project toward development. The project has an existing hydroelectric power substation on site, rail access within 60 kilometers, and paved access roads to the site.
Robert Wares is a professional geologist with more than 35 years of experience in mineral exploration and development. He was responsible for discovering the Canadian Malartic bulk tonnage gold mine, which Osisko Mining subsequently developed into one of Canada’s largest gold producers. Among other awards, Wares was a co-winner of the Prospectors and Developers Association of Canada’s “Prospector of the Year Award” for 2007 and was named, together with John Burzynski and Sean Roosen, as “Mining Men of the Year” for 2009 by the Northern Miner. Wares sits on the board of directors of Brunswick Exploration. Wares has a Bachelor of Science and an honorary doctorate in earth sciences from McGill University.
John Burzynski most recently served as the chairman, chief executive officer and director of Osisko Mining where he led his team in the discovery, development and sale of the Windfall Gold project to Gold Fields Ltd. for C$2.2 billion. Burzynski has over 35 years' experience as a professional geologist on international mining and development projects. He was one of the three original founders of Osisko Mining which developed and sold the Canadian Malartic mine in 2014 to an Agnico Eagle Mines Limited and Yamana Gold Inc. partnership for C$3.9 billion and created Osisko Gold Royalties (today a C$5 billion company). Burzynski was a co-winner together with Sean Roosen and Robert Wares of the Prospectors and Developers Association of Canada (PDAC)'s "Prospector of the Year Award" for 2007 and the Northern Miner's "Mining Man of the Year" for 2009; and the "Prospector of the Year Award" for 2024, among numerous other awards. Burzynski holds a Bachelor of Science (Honours) degree in geology from Mount Allison University and a Master of Science in exploration and mineral economics (MINEX) degree from Queen's University. He is a registered P.Geo. in Québec, a Fellow of the Royal Canadian Geographical Society and an honorary colonel with the Royal Canadian Air Force. He currently serves as chairman and a director of O3 Mining.
Don Njegovan most recently served as chief operating officer at Osisko Mining prior to its sale to Gold Fields. He was previously a director of St. Andrew Goldfields until it was acquired by Kirkland Lake Gold in 2016 and is currently on the board of directors of Cornish Metals. He was formerly managing director of Global Mining at Scotiabank from August 2010 to June 2014. Njegovan was a Toll Cross Securities Inc. investment banker from June 2005 to July 2010. Njegovan has over 30 years of experience in the mining industry, starting in 1989 for Hudson Bay Mining & Smelting Co. He holds a Bachelor of Science in mining engineering from Michigan Technological University and a Bachelor of Arts from the University of Manitoba.
Blair Zaritsky most recently served as the chief financial officer of Osisko Mining. He is a chartered professional accountant and has over 20 years of Canadian public practice experience, with exposure to various types of engagements and clients, gained through managing audit engagements of publicly listed companies traded on the Toronto Stock Exchange, TSX Venture Exchange, and Canadian Securities Exchange. Zaritsky obtained his chartered professional accountant designation in 2003 and holds dual Bachelor of Arts degrees in accounting and economics from Brock University and Western University, respectively. Zaritsky currently serves as a director of STLLR Gold.
Amanda Johnston most recently served as the vice-president of finance of Osisko Mining. She is a chartered professional accountant and has over 20 years of experience in the mining industry and audit and assurance groups. Johnston obtained her chartered professional accountant designation in 2013 and holds a Bachelor of Accounting (Honours) Co-Op degree from Brock University. Johnston currently serves as a director of Metalla Royalty & Streaming.
Alexandria Marcotte most recently served as vice-president of project coordination of Osisko Mining. She is a professional geologist registered in Ontario with over 15 years of progressive senior level experience working internationally for senior and junior companies. Marcotte holds an Honours Bachelor of Science degree from the University of Toronto and an MBA from the Schulich School of Business. She currently serves as a director of Angel Wing Metals.
Lili Mance has served as the corporate secretary of Osisko Metals since 2018. She also served as vice-president and corporate Secretary of Osisko Mining. She has 30 years of experience in the financial, wealth management and resource industries serving in a legal, compliance and corporate secretarial capacity. Mance spent 18 years with the Dundee group of companies in various increasingly senior level legal and compliance roles and its various public and private subsidiaries. Mance is a member of the Institute of Corporate Directors and has been a member of the Governance Professionals of Canada since 2004.
Jeff Hussey has 32 years of professional experience in the mining industry. He has worked in both open-pit and underground mine operations at various stages of mine life, from start-up to mine closure, and more recently, working in mineral exploration and development projects. He spent 19 years with Noranda/Falconbridge. His mine operation experience includes work at the Brunswick No. 12 mine, Gaspé Copper mines, the Antamina mine start-up in Peru, as well as the Raglan mine in Northern Québec. As a senior scientist with the Mining Technology Group at the Noranda Technology Centre in 2002, he enhanced his network in the metallurgical research and mining innovation fields. As a consultant since 2007, Jeff Hussey and Associates has helped junior mine development companies by offering exploration, mining, and geo-metallurgical support services. These include Champion Iron Mines, Focus Graphite, Puma Exploration and Starcore International in Mexico. While at Champion Iron Mines, he participated in building significant high-quality iron ore resources, completing feasibility studies and participating in raising more than $70 million for corporate development. While working with Focus Graphite, development responsibilities included a feasibility study and associated work with community stakeholders and governments. Hussey has a Bachelor of Science in geology from the University of New Brunswick.
Ann Lamontagne is a civil engineer who obtained her doctoral degree in mining environment from Laval University in 2001. She has worked in the mining industry for over 25 years as a consultant for geotechnical, water management, hydrogeology, and environmental projects. She has been involved in the development of several mining projects where her expertise has been invaluable in minimizing environmental risks throughout the mine planning process, from initial design through to closure and reclamation. Lamontagne has also been involved in many R&D projects with mining companies, including Nouveau Monde Graphite, Troilus Gold, and Mason Graphite.
Killian Charles has been president and CEO of Brunswick Exploration since 2020. Prior to this, he was vice-president, corporate development for Osisko Metals, where he now remains as a special advisor. Charles was a mining analyst at Laurentian Bank Securities and at Industrial Alliance Securities (Broker) for six years. He also worked as a manager of corporate development at Integra Gold, until its acquisition by Eldorado Gold in 2017. Charles received an undergraduate degree in Earth and Planetary Sciences from McGill University.
Luc Lessard holds a bachelor’s degree in mining engineering from Laval University, is a member of the Ordre des ingénieurs du Québec and has over 30 years of experience in the design, construction and operation of mines. He is the president, chief executive officer and director of Falco Resources and chief operating officer of Osisko Development. He currently sits on the board of directors of Osisko Metals.
Prior to joining Falco and Osisko, he was senior vice-president, technical services of Osisko Gold Royalties, COO of Canadian Malartic GP (jointly owned by Agnico Eagle Mines and Yamana Gold) and before, COO and senior vice-president, engineering and construction of Osisko Mining Corporation, where he was responsible for the design, construction and commissioning of the Canadian Malartic gold mine. He also was vice-president of engineering and construction for Iamgold and General Manager for Cambior. During his career, Lessard worked on several surface and underground mining projects.
Visit Osisko Metals (TSXV: OM) (OTCQX: OMZNF) at Booth #3013 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec‘s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled "Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper". Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada‘s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq". The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
About PDAC
The World's Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 26,000 attendees in person in 2024, participants could also attend programming, courses and networking events.
The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world's mineral industry.
For more information and/or to register for the conference please visit: https://www.pdac.ca/convention.
We look forward to seeing you there.
For further information:
Osisko Metals
Kimberly Darlington
514-771-3398
kimberly@refinedsubstance.com
https://osiskometals.com/
News Provided by Newsfile via QuoteMedia
Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce that the 2025 drill program is underway at its 100%-owned Gaspé Copper project, located next to the town of Murdochville in the Gaspé Peninsula, eastern Québec.
2025 Drill Program
The 2025 drill program, now slated at 110,000 metres, is designed to 1) convert existing inferred resources (see press release dated November 14, 2024 ) into the indicated or measured resource categories; 2) test potential expansion of the current resources deeper to 250 m below the E Zone horizon and further to the south towards Needle Mountain; 3) further characterize higher grade skarn zones (0.5% - 3.0% Cu); and 4) validate new geological models. In addition, approximately 10,000 metres of drilling outside the main mining concession will test regional exploration targets on surrounding claims.
The first drill began turning last week and drilling is expected to end by November 2025. A second drill will arrive later this month followed by additional drills in the spring, increasing as required as the program advances.
Robert Wares, CEO, commented: "We are very pleased to resume drilling at Gaspé Copper and are very excited about the growth potential of the resource base. This program aims to confirm existing open-pit resources and potentially expand them based on a new geological model for distribution of primary copper mineralization at Gaspé Copper. This intensive drill program will lead to an updated mineral resource estimate, slated to be released in Q2 2026."
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec‘s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled "Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper" . Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada‘s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq". The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this press release, visit www.osiskometals.com or contact:
Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: info@osiskometals.com
Follow Osisko Metals on Facebook at https://www.facebook.com/osiskometals , on LinkedIn at https://www.linkedin.com/company/osiskometals , and on X at https://twitter.com/osiskometals .
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and constitute forward-looking information. This news release may contain forward-looking information pertaining to the Gaspé Copper Projects, including, among other things, Gaspé Copper hosting the largest undeveloped copper resource in Eastern North America and Glencore becoming a Control Person of the Company.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
News Provided by GlobeNewswire via QuoteMedia
Osisko Metals Incorporated (the " Company " or " Osisko Metals ") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: OB51) announces that that it has granted (i) an aggregate 12,500,000 restricted share units of the Company (" RSUs ") to certain executive directors and officers of the Company, and (ii) an aggregate of 1,750,000 deferred share units of the Company (" DSUs ") to certain independent directors of the Company.
All RSUs are scheduled to vest on the third anniversary of the date of grant and all DSUs are scheduled to vest upon the applicable recipient ceasing to be a director or officer of the Company, in each case, subject to terms of a newly adopted omnibus incentive plan (the " Plan ") and applicable award agreements and the policies of the TSX Venture Exchange (the " Exchange "). All RSUs and DSUs granted under the Plan may only be settled in cash until such time as the Plan and related grants have been approved by the shareholders of the Company and the Exchange.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ' s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled " Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper ". Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ' s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq" . The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: info@osiskometals.com
Follow Osisko Metals on Facebook at https://www.facebook.com/osiskometals , on LinkedIn at https://www.linkedin.com/company/osiskometals , and on X at https://twitter.com/osiskometals .
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the anticipated resource expansion of the Gaspé Copper system; Gaspé Copper hosting the largest undeveloped copper resource in eastern North America; and the advancement of the Pine Point project; and the ability of the Company to obtain the requisite shareholder and Exchange approval of the New Omnibus Plan.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
News Provided by GlobeNewswire via QuoteMedia
Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to welcome the participation of the Government of Quebec in its Gaspé Copper Project, located next to the Town of Murdochville in the Gaspé Peninsula, on the traditional territory of the Mi'gmaq First Nation of Gespe'gewa'gi.
The Government of Quebec will lead a pilot project to create a committee that seeks to maximize the economic benefits of the Gaspé Copper Project. The committee will be overseen by the Ministère des Ressources naturelles et des Forêts (Quebec Ministry of Natural Resources and Forests) and aims to optimize socio-economic benefits in the Gaspé Peninsula by ensuring strong collaboration with the business community throughout the project development process.
The announcement was made today in Murdochville during a press conference by Ms. Maïté Blanchette Vézina, Minister of Natural Resources and Forests and Minister Responsible for the Bas-Saint-Laurent Region and the Gaspésie−Îles-de-la-Madeleine Region, along with Mr. Stéphane Sainte-Croix, MNA for Gaspé, and local representatives. Mr. Robert Wares, CEO of Osisko Metals, also participated in the press conference.
Minister Maïté Blanchette Vézina said, "I am very proud of the creation of this maximization committee, which will act as a lever for cooperation and transparency in this project. This approach demonstrates our government's desire to develop mining activities harmoniously, as evidenced by the modernization of the Mining Act. Copper and its derivatives are minerals we need to be interested in for our energy transition, and completing this mining project could ultimately help secure our supplies. I want to thank all the stakeholders in advance for participating in the committee."
"This initiative by our government demonstrates our commitment to help create winning conditions for the participation of economic stakeholders and the development of business opportunities associated with the Gaspé Copper project," added Mr. Stéphane Sainte-Croix, MNA for Gaspé. "As such, we are convinced that this pilot project will allow for a structuring and harmonious integration of stakeholders in the economic project and will contribute significantly to the major benefits that will participate in the development and visibility of the region."
On behalf of Osisko Metals, Mr. Wares said, "We are delighted to have the participation and support of the Government of Quebec in the advancement of the Gaspé Copper project. Osisko Metals intends to develop the project in harmony with the citizens of Murdochville and the Gaspé Peninsula, the Mi'gmaq community of Gespe'gewa'gi and the local business community while prioritizing respect for the environment and sustainable development in our activities. We firmly believe that Gaspé Copper could become an economic pillar that will benefit the Gaspé Peninsula for several decades to come."
About the Project
Osisko Metals' Gaspé Copper project aims to restart the Murdochville Gaspé Copper mine by 2031. The former mine site contains excellent estimated resources of copper, a critical and strategic mineral that is increasingly in demand worldwide, and other important by-products in the industry, such as molybdenum. The Gaspé Copper Project is currently in the advanced exploration phase and Osisko Metals plans to continue its feasibility studies until 2027.
Responsible and Harmonious Collaboration
On the ministerial side, the announced pilot project comes from the 2024-2025 Roadmap for the harmonious and responsible development of mining activity , also made public today by the Minister of Natural Resources and Forests. This roadmap stems more broadly from the major observations made following the Participatory Approach for the Harmonious Development of Mining Activity, carried out in the spring of 2023, which included social acceptability, the participation of local communities and the maximization of economic benefits.
The objectives of the maximization committee formed in Murdochville, therefore, aim to improve and consolidate approaches that promote economic benefits on a regional scale, increase the participation of local and Indigenous business communities in the development of the project, and identify opportunities within the circular economy. Creating a place for exchanges between the business community and Osisko Metals also facilitates the overall understanding of the project and the opportunities it creates in the area. Various local and regional economic development organizations - municipal, governmental, business and Indigenous – will sit on the committee.
Osisko Metals' Leadership
Osisko Metals is also proud of the leadership role it plays in the industry and on the provincial scene, as its participation in this pilot project will allow the Ministry to identify best practices for maximizing benefits in mining project host communities and to develop a program of support that facilitates the establishment of this type of committee in other regions of Quebec.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc.
The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ' s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled " Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper ". Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ' s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq" . The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: info@osiskometals.com
Follow Osisko Metals on Facebook at https://www.facebook.com/osiskometals , on LinkedIn at https://www.linkedin.com/company/osiskometals , and on X at https://twitter.com/osiskometals .
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the anticipated changes to the management and Board of the Company; the ability for the Company to complete the Transaction on the terms contemplated (if at all); the size of the Transaction; the Closing Date of the Transaction; the ability for the Company to obtain the conditional and final approval of the TSX Venture Exchange; the anticipated use of proceeds of the Transaction; the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company's trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the expectation that management and directors of the Company will be significant shareholders of the Company following the Transaction; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system; and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
News Provided by GlobeNewswire via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: OB51 ) announces, further to its news release dated November 18, 2024 (entitled " Osisko Metals Expands Leadership Team and Announces C$100 Million Bought Deal Financing " ), the following changes to Osisko Metals' leadership team:
Management Changes
The Company is pleased to announce the implementation of the following key management additions:
Board of Directors Changes
The Company is pleased to announce the appointment of Patrick Anderson and Tara Christie to the Board of Directors of the Company (the " Board ").
Patrick F.N. Anderson | Independent Director – Mr. Anderson holds a BSc. Degree in geology from the University of Toronto and is an entrepreneur and executive with over 30 years of experience in the resource sector. He has held key roles across gold, base metals, and diamond projects for junior explorers, major producers, and consulting firms in South America, North America and Europe. His board experience includes companies listed on the TSX-V, TSX, and LSE-AIM exchanges. As the founder, CEO, and Director of Dalradian Resources Inc., he led the discovery of over 6 million ounces of high-grade gold at Curraghinalt and executed a $537 million go-private transaction. Previously, he co-founded Aurelian Resources Inc., overseeing the discovery of the 13.7 million-ounce Fruta del Norte deposit, acquired for $1.2 billion. This deposit is now Lundin Gold's flagship asset. Mr. Anderson has been named Mining Man of the Year by The Northern Miner and received the PDAC Thayer Lindsley Award. He recently served as Lead Independent Director for Osisko Mining in its $2.2 billion acquisition by Gold Fields Ltd. Currently, he is the CEO of private Dalradian Resources, a Director of O3 Mining Inc., and Chairman of Cornish Metals Inc.
Tara Christie | Independent Director – Ms. Christie is a professional engineer and has over 25 years of experience in the exploration and mining business. Currently, she is the President, Chief Executive Officer and a Director of Banyan Gold Corp. and led the company from discovery to establishing its current resource on the AurMac Gold Project. Ms. Christie currently serves on the board of Western Copper and Gold Corporation and has served on the boards of several other public companies. She was formerly the President of privately owned Gimlex Gold Mines Ltd., one of the Yukon's largest placer mining operations. Ms. Christie has been a board member of PDAC, Association for Mineral Exploration BC, and the Yukon Environmental and Socio-Economic Assessment Board (YESAB). She is also President of the registered charity "Every Student, Every Day" that works to improve attendance in Yukon schools working with communities and First Nations.
Resignation of Luc Lessard
Luc Lessard has stepped down as a director of Osisko Metals, having served as a director on the Board since 2016. Mr. Lessard will continue as a strategic advisor to the Company.
Concurrent with these appointments, Anthony Glavac has stepped down as Chief Financial Officer.
"On behalf of the members of the Board, the management team and the staff of Osisko Metals, I would like to thank Luc and Anthony for their valued contributions and commitment to the success of Osisko Metals," commented Robert Wares, CEO of the Company. "We wish Luc and Anthony all the best in their future endeavors."
Option Grants
The Company announces that, effective December 12, 2024, it has granted to certain directors, officers, employees and/or consultants of the Company an aggregate of 15,100,000 stock options (" Options ") pursuant to the Osisko Metals stock option plan.
The Options have an exercise price of $0.26 per share and a five-year term from the date of grant, and vest annually in equal thirds beginning on the first anniversary of the date of grant.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ' s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled " Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper ". Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ' s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq" . The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: info@osiskometals.com
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the anticipated resource expansion of the Gaspé Copper system; Gaspé Copper hosting the largest undeveloped copper resource in eastern North America; and the advancement of the Pine Point project.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
News Provided by GlobeNewswire via QuoteMedia
Anax Metals, an ASX-listed exploration company, is dedicated to advancing its copper assets in Western Australia’s Pilbara region. Through key joint ventures and strategic partnerships, the company is well-positioned to develop a central processing hub, enhancing operational efficiency and delivering strong investor value.
Anax Metals (ASX:ANX) is a project developer that is on track to begin producing copper and zinc concentrates from its flagship Whim Creek project in the Pilbara region of Western Australia. The project is 80 percent owned by Anax, with JV partner Develop Global (Develop) owning the remaining 20 percent. The Whim Creek DFS (and leaching study) have demonstrated the opportunity for an eight-year mining operation producing copper concentrates, cathodes and valuable byproducts. The operation will generate $410 million in cash flow and deliver an NPV of $270 million with a development capex of $71 million.
The company believes its growth potential lies both in expanding the mineral resources across the project’s four deposits and in a consolidation strategy that includes a processing hub with a concentrator and heap leach at Whim Creek. Benefits from the consolidation include delivering economies of scale with processing flexibility to treat ores from regional orebodies. The permitted infrastructure is ideally located and suited to becoming the Pilbara-processing hub.
Anax Metals and GreenTech Metals signed a non-binding and non-exclusive memorandum of understanding to assess the potential to treat mined material from GreenTech’s base metal assets, with a focus on the open-pittable Whundo deposit.
Anax Metals also signed a non-binding and non-exclusive memorandum of understanding (MoU) with Artemis Resources (ASX:ARV) to jointly assess the potential for processing the copper content of Artemis’ open-pittable Greater Carlow resource at the fully-permitted Whim Creek Processing hub. Anax and Artemis also agree to evaluate the potential for Artemis to explore for gold mineralisation on the Anax project tenure.
Whim Creek is strategically located along the NW Coastal Highway in Western Australia’s Pilbara region, approximately 120 km from both Port Hedland and Karratha. With a long history of copper production, the project benefits from existing infrastructure, including dams, haul roads, offices, workshops, and a dedicated gas spur line. Currently being developed as an 80/20 joint venture between Anax Metals and Develop Global, Whim Creek hosts four key deposits—Whim Creek, Mons Cupri, Salt Creek, and Evelyn. These deposits feature structurally controlled, volcanic-hosted massive sulphide copper-zinc-lead mineralization, presenting significant development potential.
On-going exploration work at Evelyn resulted in discovering exciting new targets for future drilling campaigns scheduled in early 2025. Exploration works conducted in 2024 indicated high copper grades and new soil anomalies. The company is assessing the regional potential of the granted Evelyn Mining Lease for further high-grade VMS-type, polymetallic base metal deposits.
Anax Metals announced its recent application for an exploration license (E47/5275) covering 65 sub-blocks spanning approximately 207 sq. km, which extends the company’s landholding to the south and west of the Whim Creek joint venture tenement package. Once granted, the new tenement will be 100 percent owned by Anax. The majority of E47/5275 lies within the Whim Creek Greenstone Belt, which is highly prospective for volcanogenic massive sulphide (VMS) mineralization, similar to the Whim Creek and Mons Cupri deposits.
Since completing the definitive feasibility study in 2023, Anax has promoted Whim Creek as a regional processing hub, with potential for an expanded production capacity over 20 kt copper equivalent. Highlights of the technical report include FCF generation of $410 million over an eight-year mine life. Processing would be predominantly through the planned concentrator. Heap leaching is anticipated to begin in the second year of production.
Anax has achieved significant success with bioleaching technology, reporting up to 80 percent copper and 90 percent zinc extraction rates. This innovative approach enhances metal recovery and supports the company’s commitment to sustainable practices.
A processing hub with sorting, concentrator and heap leach facilities
The company believes the project will also provide a processing solution for surrounding projects located within trucking distance of Anax’s processing facility. In the long term, Anax plans to establish a Pilbara Base Metal Alliance to facilitate collaboration with other base metal projects in the region.
Phillip Jackson is a barrister and solicitor with significant legal and international corporate experience, Phillip Jackson specialises in commercial and contract law, mining and energy law and corporate governance. He has been a director and chairman of a number of ASX and AIM listed minerals companies.
Geoff Laing is a chemical engineer with 30 years in mining and project development. He has been involved in the exploration and junior mining sector for the last 15 years, taking on corporate and advisory roles. He was a key player in Exco Resources’ divestment of a substantial copper asset for $175 million to Xstrata Copper, and as managing director, he delivered the successful takeover of the company by WH Sol Pattinson.
Peter Cordin is a civil engineer with over 45 years' global experience in mining and exploration, both at operational and senior management levels. He has direct experience in the construction and management of diamond and gold operations in Australia, Fenno-Scandinavia and Indonesia.
Phil Warren is a chartered accountant with over 25 years’ experience in board governance, corporate advisory and capital raising advice. Warren has spent a number of years working overseas for major international investment banks. He is currently a non-executive director of ASX listed companies, including Family Zone Cyber Safety, Narryer Metals, Killi Resource and Rent.com.au. He was a founding director of Cassini Resources, which was subsequently acquired by Oz Minerals.
Jenine Owen joined Anax in 2020, where she is responsible for corporate risk management, financial management and financial reporting. She is a chartered accountant with extensive finance and commercial experience, including several CFO roles in ASX listed entities. Having started her career with Deloitte (Zimbabwe) in the external assurance division, she moved to London in 1999 where she held various finance and governance roles before settling in Australia in 2008. Prior to joining Anax, Owen was CFO at Predictive Discovery (ASX:PDI).
Andrew McDonald is a seasoned geologist with over 20 years of experience in project management, development, resource geology, and exploration across a wide range of commodities. He has held roles with several ASX-listed mining companies, where he has led project development and managed regulatory approvals for mining projects in both Australia and the United States.
Dan O’Hara is an experienced environmental professional with over 15 years in environmental management across the mining, oil and gas, construction, and government sectors. In recent years, he has played a key role in securing environmental permits for mining projects in Western Australia.
Positive Preliminary Economic Analysis (PEA) defines Pathway to Production:
2025 drilling to accelerate growth of copper resources:
The PEA has outlined a technically robust project and demonstrated that Storm has the potential to become a profitable, long-life mine with strong economic returns for the Company.
The PEA estimates that an open pit mining and mineral processing facility at Storm can be developed with a low initial capital cost of US$47.4m to deliver a project NPV of approximately US$149m and a post-tax IRR of approximately 46%.
Shareholder returns can be substantially enhanced by use of 100% debt to fund development, which boosts the approximate pre-tax IRR to an impressive 135%. American West is in ongoing discussions with a number of parties regarding the potential for off-take or other debt-based financing for the development of Storm.
The PEA is based on the current Storm MRE of 20.6Mt at 1.1% Cu and 3.8g/t Ag which contains 229Kt of copper and 2.2Moz of silver (using a 0.35% Cu cut-off). With less than 5% of the 110km prospective copper horizon at Storm systematically explored with drilling and numerous exploration targets already identified along the copper belt, there is strong potential to add significant copper resources to the Storm MRE. The Company is planning a major exploration program for 2025 to test a pipeline of high-quality copper targets.
American West believes the dual focus of exploration in pursuit of new discoveries while progressing feasibility studies will continue to stamp Storm as an attractive copper development opportunity.
The below key economic metrics of the PEA highlight the competitive cost profile and investment returns (all financial metrics are approximations estimated on the basis of assumptions in the PEA). A copy of the PEA is attached to this ASX Release.
Dave O’Neill, American West’s Managing Director, said:
“Our field work and development studies in 2024 have laid the groundwork for what we believe will be a transformational year for American West.
“The initial economic study is an enormous milestone for the Storm Copper Project. It is exciting to announce a low capital cost pathway to mine development with significant upside to expand the production profile and mine life as our continuing exploration identifies further copper resources.
“Storm is now well positioned to be the next copper mine in Canada, joining other very successful base metal mines in the region such as Polaris (22Mt @ 14.1% Zn, 4% Pb) which operated for 21 Years, and Nanisivik (18Mt @ 9% Zn, 0.7% Pb) which operated for 26 years. We will now initiate the permitting process and progress feasibility study work.
“American West will also continue a strong focus on resource expansion and exploration drilling to fully unlock the resource potential along the prospective 110km copper belt at Storm.
“Exploration in 2024 delivered a pipeline of new discoveries and targets that we will follow-up in 2025. There are several large-scale exploration targets that offer excellent potential for a new discovery – walk-up drill targets that are supported by strong EM plates, gravity anomalies, copper gossans at surface, or high-grade copper confirmed by reconnaissance drilling.
“There is very strong potential to quickly add tonnes to the existing mineral resource estimate. With the scoping study supporting the economic potential of a mining operation at Storm, any increase in the resource is likely to further enhance the potential economics of that mining operation.
“We look forward to updating investors on the 2025 field program as arrangements are finalised.”
Click here for the full ASX Release
This article includes content from American West Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
