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Osisko Metals Intersects 4.86% Zinc+Lead Over 11.10 Metres at Pine Point

MONTREAL, June 12, 2018 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM) (FRANKFURT:0B51) is pleased to announce assay results from an additional 35 shallow drill holes completed along the Central Zone trend in the L65 deposit and along the East Mill Zone trend in the L 35 and L36 deposits. Drill hole L65-18-PP-004 intersected 4.29% Zn & 0.56% Pb over 11.10 metres. Also worthy of mention is hole L65-18-PP-007 that intersected 11.20% Zn & 3.42% Pb over 5.35 metres. All intersections are within near surface flat lying tabular-style deposits and all intercepts in the Central Zone are located above 102 metre depths. The intersections in the East Mill Zone trend are above 57 metre depths. (See 2018 Winter Drill Campaign East Mill Zone Map B6).

The Central Zone that trends over 7.5 kilometres hosts the L65 deposit and the mineralized trend currently measures 3.0 kilometres in length. Its eastern end is located 11 kilometres to the west of the electrical sub-station along the main haulage road. This zone hosts six deposits with historical resources reported by Cominco Limited including L65 (1.9Mt at and 4.2% Zn & 2.1% Pb) (See 2018 Winter Drill Campaign Central Zone Map B6).

Geological evidence suggests that the Zinc and Lead mineralization may connect these deposits with a keel of higher grade mineralization. Near-surface mineralization was intersected at L65 above 103 metres vertical depth, with multiple mineralized intercepts reported in 6 drill holes.

The East Mill Zone (see news releases May 1, May 15, and May 29th, 2018) is a 7.6-kilometre trend that extends towards the east from the electrical substation area. Near-surface mineralization was intersected above 46 metres vertical depth, with multiple mineralized intercepts reported in 4 drill holes. See Osisko Metals website for additional geological background on both the Central Zone and The East Mill Zone.

Additional highlights are listed below in Table 1 and details are provided in Tables 2 & 3.

Table 1: Highlights:
Hole Name From To Width Lead Zinc Lead + Zinc
  (metres) (metres) (metres) % % %
L65-18-PP-004 91.35 102.45 11.10 0.56 4.29 4.86
L65-18-PP-007 60.00 65.35 5.35 3.42 11.20 14.62
L65-18-PP-012 68.65 72.10 3.45 1.32 7.92 9.25
Note: Grades may not add up exactly due to rounding to two decimal places.

The objective of the 2018 drill program is to upgrade approximately 50 million tonnes of unclassified near-surface historical resources to NI43-101 Indicated Resources as quickly as possible in areas amenable to open-pit mining. The program consists of approximately 700 drill holes (129 now completed) within the central, 20-kilometre long, portion of the Pine Point Mining Camp (“PPMC”) that is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure and paved highway access.

Note regarding historical resource and Qualified Person

The above-mentioned historical resources do not conform to National Instrument 43-101 standards. The Company is reporting the historical estimates for reference purposes only. Neither Osisko Metals nor its consultants have completed sufficient work to verify the historical estimates and these should not be relied upon for investment purposes. A Qualified Person has not done sufficient work to classify the historical estimates as NI43-101 compliant mineral resources and there is no guarantee that such work will allow conversion of such historical resources.

Stanley G. Clemmer, P. Geo is the Qualified Person responsible for the technical data reported in this news release. He is a Professional Geologist registered in the Northwest Territories and is Chief Geologist for Pine Point Mining Limited, a wholly owned subsidiary of Osisko Metals Limited.

Quality Assurance / Quality Control

Osisko Metals adheres to a strict Quality Assurance and Quality Control program with regard to core handling, sampling, transportation of samples and lab analyses. Drill core samples from the Pine Point project area were securely transported to its core facility in Hay River, Northwest Territories where they were logged and sampled. Samples selected for assay were shipped via secure transportation to the ALS Canada Ltd’s preparation facility in Yellowknife. Pulps were analyzed at the ALS Canada Ltd. facility in North Vancouver, British Columbia. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for ultra-trace level detection 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 reporting Zn >30% and or Pb >20% are analyzed by traditional titration.

Table 2: Composite Assay Results
Hole Name Area Historical Deposit From To Width True Width Lead Zinc Lead + Zinc
    (metres) (metres) (metres) (metres) % % %
L65-18-PP-001 Central L65 76.00 76.60 0.60 0.60 0.99 4.33 5.32
L65-18-PP-002 Central L65 80.90 81.50 0.60 0.49 0.98 5.56 6.54
L65-18-PP-003 Central L65 No significant results
L65-18-PP-004 Central L65 88.60 89.40 0.80 0.66 0.71 4.01 4.72
L65-18-PP-004 Central L65 91.35 102.45 11.10 9.09 0.56 4.29 4.86
L65-18-PP-005 Central L65 No significant results
L65-18-PP-006 Central L65 54.65 55.30 0.65 0.59 0.18 4.07 4.25
L65-18-PP-006 Central L65 65.95 66.55 0.60 0.54 0.02 2.08 2.10
L65-18-PP-007 Central L65 60.00 65.35 5.35 4.38 3.42 11.20 14.62
L65-18-PP-007 Central L65 71.55 71.85 0.30 0.25 0.27 7.64 7.91
L65-18-PP-008 Central L65 No significant results
L65-18-PP-009 Central L65 72.20 72.65 0.45 0.45 1.50 0.15 1.65
L65-18-PP-009 Central L65 74.10 74.75 0.65 0.65 1.29 0.25 1.54
L65-18-PP-010 Central L65 65.15 65.45 0.30 0.30 1.43 21.40 22.83
L65-18-PP-010 Central L65 69.80 70.30 0.50 0.50 3.28 3.81 7.09
L65-18-PP-011 Central L65 67.55 69.90 2.35 1.92 0.21 1.78 2.00
L65-18-PP-011 Central L65 75.95 76.45 0.50 0.41 0.22 1.85 2.07
L65-18-PP-012 Central L65 68.65 72.10 3.45 3.40 1.32 7.92 9.25
L65-18-PP-012 Central L65 75.30 75.60 0.30 0.30 0.43 5.63 6.06
EM-18-PP-040 East Mill L36 27.40 29.20 1.80 1.63 0.05 10.60 10.65
EM-18-PP-040 East Mill L36 37.45 44.18 6.73 6.10 0.46 3.56 4.03
EM-18-PP-047 East Mill L36              
EM-18-PP-049 East Mill L35 43.00 43.71 0.71 0.54 2.13 12.60 14.73
EM-18-PP-051 East Mill L35 40.85 41.75 0.90 0.74 0.09 2.50 2.59
EM-18-PP-051 East Mill L35 45.20 47.10 1.90 1.56 0.00 2.88 2.88
EM-18-PP-051 East Mill L35 49.55 51.20 1.65 1.35 0.89 7.32 8.21
EM-18-PP-056 East Mill L35 No significant results
EM-18-PP-057 East Mill L35 No significant results
EM-18-PP-062 East Mill L35 31.70 32.70 1.00 0.87 0.04 1.20 1.24
EM-18-PP-062 East Mill L35 34.25 34.65 0.40 0.35 0.12 3.12 3.24
EM-18-PP-063 East Mill L35 No significant results
EM-18-PP-066 East Mill L35 20.35 20.75 0.40 0.35 0.07 3.97 4.04
EM-18-PP-067 East Mill L35 42.00 43.50 1.50 1.30 0.01 2.53 2.53
EM-18-PP-067 East Mill L35 49.85 51.35 1.50 1.30 0.02 1.12 1.14
EM-18-PP-068 East Mill L35 56.25 57.00 0.75 0.57 0.64 0.36 0.99
EM-18-PP-070 East Mill L35 No significant results
EM-18-PP-071 East Mill L35 44.90 47.00 2.10 1.48 0.23 1.29 1.52
 

/EIN News/ --

Table 3: Drill hole collar locations (UTM NAD83 zone 11)
Hole Name Deposit Area Easting Northing Elevation Azimuth Dip Depth (m)
L65-18-PP-001 Central L65 628537.0 6744031.8 215.81 0 -90 99.50
L65-18-PP-002 Central L65 628537.6 6744030.7 215.73 60 -55 117.00
L65-18-PP-003 Central L65 628536.3 6744030.3 215.66 335 -55 120.00
L65-18-PP-004 Central L65 628368.3 6743899.7 215.94 80 -55 126.00
L65-18-PP-005 Central L65 628368.9 6743900.5 215.99 215 -75 113.00
L65-18-PP-006 Central L65 628679.6 6744200.8 214.56 235 -65 87.00
L65-18-PP-007 Central L65 628678.4 6744197.2 214.49 120 -55 94.00
L65-18-PP-008 Central L65 628488.1 6743993.4 215.99 230 -55 126.00
L65-18-PP-009 Central L65 628734.0 6743890.7 217.77 0 -90 90.00
L65-18-PP-010 Central L65 628759.1 6744203.6 215.02 0 -90 80.00
L65-18-PP-011 Central L65 628759.6 6744203.2 214.94 150 -55 97.00
L65-18-PP-012 Central L65 628487.9 6743992.9 215.95 10 -80 102.00
EM-18-PP-040 East Mill L36 641946.6 6751414.2 216.08 75 -65 63.00
EM-18-PP-046 East Mill L27 645378.4 6752958.4 213.82 0 -90 33.00
EM-18-PP-047 East Mill L36 642067.2 6751425.1 215.70 90 -65 63.00
EM-18-PP-049 East Mill L35 642121.6 6751570.9 215.57 215 -50 75.00
EM-18-PP-051 East Mill L35 642122.0 6751571.7 215.49 75 -55 72.00
EM-18-PP-052 East Mill L27 645307.0 6752979.3 213.32 35 -60 36.00
EM-18-PP-053 East Mill L27 645293.7 6752950.2 213.35 20 -60 42.00
EM-18-PP-055 East Mill L27 645200.8 6752940.2 213.09 335 -55 42.00
EM-18-PP-056 East Mill L35 642300.6 6751909.2 215.15 0 -55 57.00
EM-18-PP-057 East Mill L35 642309.7 6751868.8 215.00 330 -75 57.00
EM-18-PP-058 East Mill L27 645171.2 6753022.8 214.25 325 -60 48.00
EM-18-PP-059 East Mill L27 645169.1 6752972.1 213.90 45 -60 42.00
EM-18-PP-060 East Mill L27 645143.8 6753006.2 214.19 340 -55 45.00
EM-18-PP-062 East Mill L35 642342.7 6751881.2 215.16 150 -60 51.00
EM-18-PP-063 East Mill L35 642364.0 6751897.1 215.21 0 -65 70.50
EM-18-PP-064 East Mill L27 644968.1 6753055.2 214.67 85 -55 48.00
EM-18-PP-065 East Mill L27 645012.9 6753083.6 213.89 220 -65 42.00
EM-18-PP-066 East Mill L35 642391.1 6751834.7 214.42 100 -60 61.50
EM-18-PP-067 East Mill L35 642378.9 6751762.8 214.24 350 -60 58.50
EM-18-PP-068 East Mill L35 642378.3 6751762.6 214.17 210 -50 76.50
EM-18-PP-069 East Mill L27 645041.2 6753086.2 213.78 0 -90 42.00
EM-18-PP-070 East Mill L35 642436.0 6751755.4 213.99 5 -65 54.00
EM-18-PP-071 East Mill L35 642442.0 6751736.4 214.12 250 -45 72.00

About Osisko Metals

Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on zinc mineral assets. The Company controls Canada’s two premier zinc mining camps in Canada, namely the Pine Point Camp (“PPMC”) located in the Northwest Territories (22,000 ha) and the Bathurst Mining Camp (“BMC”), located in northern New Brunswick (42,000 ha). The Company is currently drilling in both camps for a combined 100,000 metres.  The focus of these programs is to upgrade historical resources to comply with NI43-101 regulations and also on exploration around historical deposits. Brownfield exploration includes new innovative 3D compilation techniques, updated geological interpretation, and modern geophysics. In parallel, Osisko Metals is monitoring several base metal-oriented peers for opportunities.

For further information on Osisko Metals, visit www.osiskometals.com or contact:
   
Jeff Hussey
President & CEO
Osisko Metals Incorporated
(514) 861-4441
Email: info@osiskometals.com
www.osiskometals.com
Christina Lalli
Director, Investor Relations
Osisko Metals Incorporated
(514) 861-4441
Email: info@osiskometals.com
www.osiskometals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding 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. 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. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; an exemption being available under MI 61-101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valuation requirements for each related party transaction; objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation 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 Corporation 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) accepts 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. 

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