Osisko Metals Incorporated announced all remaining results from the 2022 definition drilling program at its Pine Point Project, located in the Northwest Territories, Canada. This ongoing drill program is designed to achieve an average drill spacing of approximately 30 metres within the modelled mineral resources. This spacing is intended to upgrade resources presently classified as Inferred to the Indicated category in order to be used in the Feasibility Study (FS) to be initiated in the second half of 2023.

The Company intends to complete the remainder of the infill drill program by the end of the first half of 2023. Six diamond drills are currently active at Pine Point and the Company plans to drill approximately 29,000 metres before spring. This program is primarily designed to convert the majority of deposits to the Indicated Mineral Resource category and will also explore zones between deposits where previous widely-spaced drilling suggests the potential for continuous mineralization.

Drill Hole Assay Composite Highlights: K51-22-PP-002: 10.00 metres, grading 13.46% Zn and 4.14% Pb (17.60% Zn+Pb); N204-22-PP-007: 10.00 metres, grading 7.63% Zn and 2.49% Pb (10.12% Zn+Pb); and N204-22-PP-013: 11.00 metres, grading 8.92% Zn and 2.15% Pb (11.07% Zn+Pb). All intercepts reported below were within, or immediately adjacent to, the currently modelled and proposed open pit shells designed for the PEA. The results reported are within expectations for the infill program needed to convert the North, C2, EM, and N204 Zone deposits (K51, L27, M40, N204, N32, N33, O26, O27, Y56, and Y58) to the Indicated Mineral Resource category.

All reported results are from Tabular-style deposits characterized by continuous, flat-lying mineralization. More vertically continuous Prismatic-style mineralization was locally encountered within the Tabular-style mineralization. Hydrogeological Program Update: Hydrogeological measurements over the past two years have consisted of: Profile Tracer Tests that measure groundwater flow and conductivity of the bedrock stratigraphy within the drill hole, Injection Tests to model aquifer characteristics, and Physio-chemical measurements of the water within the drill holes to characterize the groundwater in and around the deposits.

This data was used to corroborate the results of the hydrogeological model used in the 2022 Preliminary Economic Assessment. In the first quarter of 2023 the Company will evaluate various life-of-mine Cluster strategies in preparation for the FS. The Cluster strategy uses an area of approximately three kilometres by one kilometre in the North-South direction.

The concept is that dewatering a mine site will impact and lower the amount of water to be pumped from nearby mine sites. The hydrogeological model is continuously evolving as new field data is incorporated. The updated hydrogeological model will be used to continuously improve forecasts for dewatering volume estimates for the upcoming Pine Point FS.

Additional hydrogeological monitoring wells will continue to be added as the 2023 infill drilling is completed this winter. Quality Assurance /Quality Control Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation, and analyses. Drill core samples from the Pine Point project area are securely transported to its core facility on-site, where they are logged and sampled.

Samples selected for assay are shipped to ALS Canada Ltd.'s preparation facility in Yellowknife. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for a multi-element suite with a 1% upper detection limit for base metals.

Samples reporting over 1% for Zn and 1% for Pb are analyzed by assay grade, four acid digestion, and ICP-AES analysis with an upper detection limit of 30% and 20%, respectively. Samples with Zn >30% and or Pb >20% are analyzed by traditional titration.