OSK - Osisko Mining - WKN A0Q390

Dec 30, 2010 15:14 ET
Osisko Receives Securities of Ryan Gold Corp.

MONTREAL, QUEBEC--(Marketwire - Dec. 30, 2010) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES

Osisko Mining Corporation ("Osisko")(TSX:OSK)(FRANKFURT:EWX) announces that it has received from Ryan Gold Corp. ("Ryan Gold") 8,000,000 common shares and 4,000,000 common share purchase warrants (the "Warrants") following a merger between Ryan Gold and Ryan Gold Inc. in exchange for common shares and warrants held by Osisko in Ryan Gold Inc.

Each Warrant entitles its holder to purchase one common share for $1.15 during a period ending on November 19, 2013.

Ryan Gold's management has agreed to recommend the election of an Osisko representative to Ryan Gold's Board of Directors.

Osisko currently holds an aggregate of 8,000,000 common shares representing 9.90% of the total number of issued and outstanding common shares of Ryan Gold. Should the Warrants be fully converted, Osisko would hold 12,000,000 common shares or 14.14% of the total number of issued and outstanding common shares of Ryan Gold.

Osisko holds the common shares and the Warrants for investment purposes only and not with a view to materially affect the control of Ryan Gold. Osisko has no present intention of acquiring beneficial ownership or control over additional securities of Ryan Gold.
 
Dec 31, 2010 15:11 ET
Osisko Draws $75 Million on CPPIB Credit Investments Inc. Credit Facility.

MONTREAL, QUEBEC--(Marketwire - Dec. 31, 2010) - Osisko Mining Corporation ("Osisko" or the "Company")(TSX:OSK)(FRANKFURT:EWX) is pleased to announce that on December 31, 2010, it has drawn the second tranche of $75 million under the $150 million credit agreement negotiated in September 2009 with CPPIB Credit Investments Inc. ("CPPIB"), a wholly – owned subsidiary of the CPP Investment Board. The funds will be used for the development of the South Barnat deposit and general corporate purposes. Under the terms of the agreement, Osisko issued to CPPIB 5.5 million warrants which are exercisable prior to December 31, 2015. Each warrant allows CPPIB to purchase one common share of Osisko at a price of $19.25, representing a 30% premium to the 15 day volume weighted average price prior to issuance. Osisko may accelerate the exercise of the warrants if the shares of Osisko trade at or above a 50% premium to the exercise price for a period of 15 days.

Sean Roosen, President and CEO noted: "We greatly appreciate having CPPIB as a financial partner as our Company pursues its goal to become a leading intermediate gold producer".

About Osisko Mining Corporation

Osisko Mining Corporation is currently developing the Canadian Malartic gold deposit in Quebec and evaluating adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Canadian Malartic deposit currently represents one the biggest permitted gold reserves in Canada, and is still growing through ongoing drilling on new mineralized zones. Current reserves for the Canadian Malartic property are 9.0 million ounces (see details in Osisko press release dated February 10, 2010). Osisko is also developing the Hammond Reef gold project near Atikokan Ontario through an aggressive definition drilling program of 350,000 metres. Hammond Reef is currently estimated to contain a National Instrument 43-101 compliant inferred resource of 6.70 million ounces of gold (259.4 million tonnes at a grade of 0.8 grams per tonne, using 0.3 grams per tonne cut-off), of which 97% lies within 300 metres of surface.

About CPP Investment Board

The CPP Investment Board is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPP Investment Board invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2010, the CPP Fund totaled $138.6 billion. For more information about the CPP Investment Board, please visit www.cppib.ca .
 
Jan 25, 2011 08:00 ET

Osisko Reports Significant New Intersections at Barnat Extension, Including 3.19 g/t Au Over 142 Metres

MONTREAL, QUEBEC--(Marketwire - Jan. 25, 2011) - Osisko Mining Corporation ("Osisko") (TSX:OSK)(FRANKFURT:EWX) is pleased to announce additional results from the 2010 definition drill program on the Barnat Extension, located on Osisko's 100%-owned Canadian Malartic gold property, within and immediately to the east end of the current engineered pit of the Canadian Malartic and Barnat deposits. The 115 hole, 25,100 metre definition drilling program was executed along 25 metre-spaced sections and was completed in the fall of 2010.

Results for thirty-six new holes, mainly from the Barnat Extension program (east of section 5800E) are presented below. Highlights include 142.6 metres averaging 3.19 g/t Au (BA10-3913 uncut), 121.2 metres averaging 2.78 g/t Au (BA10-3911 uncut), and 142.7 metres averaging 1.40 g/t Au (BA10-3914).

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 hosted within Pontiac metasediments. Mineralized intersections between sections 5675E and 6150E are partially outside (below) the existing engineering pit and therefore not included in current reserves. All holes to the east of section 6150E are completely outside the current engineered pit. Out-of-pit intersections are indicated below by asterisks:

http://www.marketwire.com/press-release/Osisko-Reports-Significant-New-Intersections-Barnat-Extension-Including-319-g-t-Au-Over-TSX-OSK-1384912.htm
 
Feb 24, 2011 09:58 ET

Osisko Reports 124 Metres Averaging 0.73 g/t Au in Southeast Extension at Hammond Reef

MONTREAL, QUEBEC--(Marketwire - Feb. 24, 2011) - Osisko Mining Corporation ("Osisko"), (TSX:OSK)(FRANKFURT:EWX) is pleased to announce initial results from the fall 2010 drilling program at the Hammond Reef gold project, located near Atikokan in western Ontario. The Hammond Reef project is 100 percent owned by Osisko Hammond Reef Gold Ltd., a wholly-owned subsidiary of Osisko. The fall 2010 program included 324 holes for approximately 119,000 metres.

Results from a total of forty-one new holes are presented below. These holes were all drilled to test the southeast (down-dip) extension of the deposit in the area of the Mitta Zone as well as the western portion of the 41 Zone (between sections 2145 E and 3045 E), over an area measuring 825 by 500 metres. All but four holes intersected significant mineralization. Highlights include 124 metres averaging 0.73 g/t Au (BR-410A), 45 metres at 1.86 g/t Au (BR-6057) and 49.5 metres averaging 1.83 g/t Au (BR-6042). Assay results are summarized in the tables below:

.
.
.

http://www.marketwire.com/press-release/Osisko-Reports-124-Metres-Averaging-073-g-t-Au-Southeast-Extension-Hammond-Reef-TSX-OSK-1401304.htm
 
Feb 28, 2011 08:00 ET

Osisko Mining Corporation: Canadian Malartic Style Mineralization Discovered at the Jeffrey Zone

MONTREAL, QUEBEC--(Marketwire - Feb. 28, 2011) - Osisko Mining Corporation ("Osisko") (TSX:OSK)(FRANKFURT:EWX) and Golden Valley Mines Ltd. (TSX VENTURE:GZZ) are pleased to announce additional results from the 2010 drill program targeting the Jeffrey Zone on the Malartic CHL Property, currently under option from Abitibi Royalties Inc., a wholly-owned subsidiary of Golden Valley Mines Ltd., and located immediately east of Osisko's 100%-owned Canadian Malartic gold property.

Highlights from twenty-nine drill holes include 67.0 metres averaging 1.06 g/t Au (CHL10-2282) and 26.7 metres averaging 2.57 g/t Au (CHL10-2273) in the Jeffrey zone. This set of holes includes new Canadian Malartic style mineralization discovered in the Pontiac sediments immediately south of the Jeffrey Zone. Significant intersections include 41.0 metres averaging 2.50 g/t Au (CHL10-2275 uncut) and 24.0 metres averaging 3.36g/t Au (CHL10-2285). Asterisks in the assay table below indicate those holes which have encountered this new mineralization:

.
.
.

http://www.marketwire.com/press-release/Osisko-Mining-Corporation-Canadian-Malartic-Style-Mineralization-Discovered-Jeffrey-TSX-OSK-1402651.htm
 
Feb 28, 2011 14:36 ET
Osisko Releases Year-End Financial Results and Review of 2010

MONTREAL, QUEBEC--(Marketwire - Feb. 28, 2011) - Osisko Mining Corporation (the "Company" or "Osisko") (TSX:OSK)(FRANKFURT:EWX) is pleased to report its review of activities and financial results for the year ended December 31, 2010.

Highlights

*

Continued progress on the construction of the Canadian Malartic Project ("Project") with outlays of $484.1 million in 2010 for a total project cost to date of $888.0 million;
*

Completed the acquisition of Brett Resources Inc. and the Hammond Reef Project;
*

Continued aggressive exploration and infill drilling with 409,200 metres drilled during the year;
*

Incurred a net loss of $19.5 million in 2010 compared to $20.8 million in 2009;
*

Completed a $17.2 million flow-through financing;
*

Secured additional financing though the drawdown of the second tranche of $75 million under the CPPIB Credit Investments Inc. Credit Facility;
*

Completed the relocation program at the Canadian Malartic Project;
*

Implemented a Shareholder Rights Plan;
*

Signed a Resource Sharing Agreement with the First Nations for the Hammond Reef gold property.

During the fourth quarter of 2010, the Company incurred a loss of $1.2 million ($0.00 per share) compared to a loss of $8.4 million ($0.03 per share) in the corresponding period of 2009. For the year-to-date, the loss amounted to $19.5 million ($0.05 per share) compared to $20.8 million ($0.08 per share) in 2009. Higher administrative costs reflecting the growth in the Company's activities and higher non-cash charges from the issuance of stock options in the third quarter of 2010 were more than offset by foreign exchange gains on mainly the US dollar denominated capital lease obligations following the strengthening of the Canadian dollar against the US currency, higher interest income and higher unrealized gains on held-for-trading financial assets.

Sean Roosen, President and CEO commenting on the 2010 activities noted: "We are pleased with the progress we have achieved in 2010 towards our goal to become a leading intermediate gold producer. Construction has advanced significantly at the Canadian Malartic Project and we look forward to commencing operations in May in a very strong gold price environment".

Canadian Malartic Project

The Canadian Malartic Project is reaching completion, with construction approximately 90% complete at the end of December 2010. Major accomplishments during the quarter include:

*

Advancement of mechanical, electrical and piping installations in the mill to a 90% completion rate;
*

Commissioning of all mobile mining equipment as per the original mine plan;
*

Completion of the relocation program;
*

Completion of the "green wall" to mitigate the impact of the mining activities on the community;
*

Recruitment and training of the workforce for the operational phase;
*

Ramp-up of mining pre-stripping activities.

At year-end, $888.0 million had been directly spent on the Project, with an additional $30.3 million committed.

The Project is scheduled for commencement of operations in May 2011, with capital estimates for the Project under the one billion dollar mark.

Acquisition of Brett Resources

On May 19, 2010, the Company acquired 77% of Brett Resources Inc. ("Brett") following a friendly takeover offer announced on March 22, 2010. Under the terms of the offer, Osisko issued 0.34 shares of Osisko and $0.0001 in cash in return for each share of Brett. On August 11, 2010, 94% of Brett shareholders approved a Plan of Arrangement to combine with Osisko, thereby allowing Brett to become a wholly-owned subsidiary of Osisko. The subsidiary modified its name to Osisko Hammond Reef Gold Ltd. effective October 6, 2010.

The acquisition of the Hammond Reef deposit enhances Osisko's reserve and resource base and provides the opportunity to see Osisko become a one million ounce per year gold producer by 2015-2016.

The Hammond Reef gold project is located near Atikokan, Ontario. A Preliminary Assessment Study (the "Study") was completed in November 2009 outlining an initial 14 year mine life operating at 50,000 tonnes per day. Over the first six years, on average, Hammond Reef is expected to produce 463,000 ounces of gold per year at cash costs of US$382 per ounce (including royalties, net of silver credits). Over the life of mine, Hammond Reef is expected to produce a total of 5.13 million ounces of gold at an average rate of 369,000 ounces per year and average cash costs of US$442 per ounce (including royalties, net of silver credits). Using a gold price of US$990 per ounce the Study shows that Hammond Reef has an after-tax net present value of US$811 million (using a 5% discount rate) and an internal rate of return of 22.9%. The study is available on SEDAR.

In addition to the current resource, Hammond Reef offers exciting exploration potential as recent drilling has confirmed continuity of mineralization down-dip from the existing resource.

In December 2010, the Company signed the Hammond Reef Resource Sharing Agreement with eight First Nations communities. The original terms of the agreement were negotiated with Brett Resources and Osisko concluded the transaction.

Other Highlights

The Company has continued to pursue its efforts to build on its current reserve/resource base. Approximately 409,200 metres have been drilled in 2010, including 78,600 metres drilled during the fourth quarter. The focus has been the Hammond Reef Project with some 176,300 metres being completed and the Duparquet Joint Venture with approximately 123,000 metres being completed.

The Company is continuing its dialogue with the municipal and provincial authorities with respect to the deviation of Highway 117 to allow for the mining of the Barnat deposit. Osisko is working in partnership with the town of Malartic, Quebec Ministry of Transportation and Ministry of Natural Resources and Wildlife.

In the fourth quarter of 2010, the Company completed a flow-through financing by issuing 982,827 shares for gross proceeds of $17.2 million to help fund its exploration program.

Highlights from the Company's financial position are as follows (in millions of dollars):
2010 2009
Cash Position(1) 397.9 790.2
Working Capital 283.1 760.4
Total Assets 2,064.3 1,338.8
Total Debt 287.9 180.1
Shareholders' Equity 1,588.3 1,112.3
Net Loss (19.5 ) (20.8 )
Net Loss per Share (0.05 ) (0.08 )

(1) Includes Cash and Cash equivalents, Short-term investments, Restricted cash and Cash collateral.

The consolidated financial statements and Management Discussion and Analysis for the year ended December 31, 2010 will be filed on SEDAR prior to March 31, 2011.

Osisko Mining Corporation is currently developing the Canadian Malartic gold deposit, evaluating adjacent areas for a large-scale open pit, bulk-tonnage mining operation and pursuing exploration of the Hammond Reef Project. The Company is well-funded with approximately $400 million on hand.
 
Feb 28, 2011 14:36 ET
Osisko Releases Year-End Financial Results and Review of 2010

MONTREAL, QUEBEC--(Marketwire - Feb. 28, 2011) - Osisko Mining Corporation (the "Company" or "Osisko") (TSX:OSK)(FRANKFURT:EWX) is pleased to report its review of activities and financial results for the year ended December 31, 2010.

Highlights

*

Continued progress on the construction of the Canadian Malartic Project ("Project") with outlays of $484.1 million in 2010 for a total project cost to date of $888.0 million;
*

Completed the acquisition of Brett Resources Inc. and the Hammond Reef Project;
*

Continued aggressive exploration and infill drilling with 409,200 metres drilled during the year;
*

Incurred a net loss of $19.5 million in 2010 compared to $20.8 million in 2009;
*

Completed a $17.2 million flow-through financing;
*

Secured additional financing though the drawdown of the second tranche of $75 million under the CPPIB Credit Investments Inc. Credit Facility;
*

Completed the relocation program at the Canadian Malartic Project;
*

Implemented a Shareholder Rights Plan;
*

Signed a Resource Sharing Agreement with the First Nations for the Hammond Reef gold property.

During the fourth quarter of 2010, the Company incurred a loss of $1.2 million ($0.00 per share) compared to a loss of $8.4 million ($0.03 per share) in the corresponding period of 2009. For the year-to-date, the loss amounted to $19.5 million ($0.05 per share) compared to $20.8 million ($0.08 per share) in 2009. Higher administrative costs reflecting the growth in the Company's activities and higher non-cash charges from the issuance of stock options in the third quarter of 2010 were more than offset by foreign exchange gains on mainly the US dollar denominated capital lease obligations following the strengthening of the Canadian dollar against the US currency, higher interest income and higher unrealized gains on held-for-trading financial assets.

Sean Roosen, President and CEO commenting on the 2010 activities noted: "We are pleased with the progress we have achieved in 2010 towards our goal to become a leading intermediate gold producer. Construction has advanced significantly at the Canadian Malartic Project and we look forward to commencing operations in May in a very strong gold price environment".

Canadian Malartic Project

The Canadian Malartic Project is reaching completion, with construction approximately 90% complete at the end of December 2010. Major accomplishments during the quarter include:

*

Advancement of mechanical, electrical and piping installations in the mill to a 90% completion rate;
*

Commissioning of all mobile mining equipment as per the original mine plan;
*

Completion of the relocation program;
*

Completion of the "green wall" to mitigate the impact of the mining activities on the community;
*

Recruitment and training of the workforce for the operational phase;
*

Ramp-up of mining pre-stripping activities.

At year-end, $888.0 million had been directly spent on the Project, with an additional $30.3 million committed.

The Project is scheduled for commencement of operations in May 2011, with capital estimates for the Project under the one billion dollar mark.

Acquisition of Brett Resources

On May 19, 2010, the Company acquired 77% of Brett Resources Inc. ("Brett") following a friendly takeover offer announced on March 22, 2010. Under the terms of the offer, Osisko issued 0.34 shares of Osisko and $0.0001 in cash in return for each share of Brett. On August 11, 2010, 94% of Brett shareholders approved a Plan of Arrangement to combine with Osisko, thereby allowing Brett to become a wholly-owned subsidiary of Osisko. The subsidiary modified its name to Osisko Hammond Reef Gold Ltd. effective October 6, 2010.

The acquisition of the Hammond Reef deposit enhances Osisko's reserve and resource base and provides the opportunity to see Osisko become a one million ounce per year gold producer by 2015-2016.

The Hammond Reef gold project is located near Atikokan, Ontario. A Preliminary Assessment Study (the "Study") was completed in November 2009 outlining an initial 14 year mine life operating at 50,000 tonnes per day. Over the first six years, on average, Hammond Reef is expected to produce 463,000 ounces of gold per year at cash costs of US$382 per ounce (including royalties, net of silver credits). Over the life of mine, Hammond Reef is expected to produce a total of 5.13 million ounces of gold at an average rate of 369,000 ounces per year and average cash costs of US$442 per ounce (including royalties, net of silver credits). Using a gold price of US$990 per ounce the Study shows that Hammond Reef has an after-tax net present value of US$811 million (using a 5% discount rate) and an internal rate of return of 22.9%. The study is available on SEDAR.

In addition to the current resource, Hammond Reef offers exciting exploration potential as recent drilling has confirmed continuity of mineralization down-dip from the existing resource.

In December 2010, the Company signed the Hammond Reef Resource Sharing Agreement with eight First Nations communities. The original terms of the agreement were negotiated with Brett Resources and Osisko concluded the transaction.

Other Highlights

The Company has continued to pursue its efforts to build on its current reserve/resource base. Approximately 409,200 metres have been drilled in 2010, including 78,600 metres drilled during the fourth quarter. The focus has been the Hammond Reef Project with some 176,300 metres being completed and the Duparquet Joint Venture with approximately 123,000 metres being completed.

The Company is continuing its dialogue with the municipal and provincial authorities with respect to the deviation of Highway 117 to allow for the mining of the Barnat deposit. Osisko is working in partnership with the town of Malartic, Quebec Ministry of Transportation and Ministry of Natural Resources and Wildlife.

In the fourth quarter of 2010, the Company completed a flow-through financing by issuing 982,827 shares for gross proceeds of $17.2 million to help fund its exploration program.

Highlights from the Company's financial position are as follows (in millions of dollars):
2010 2009
Cash Position(1) 397.9 790.2
Working Capital 283.1 760.4
Total Assets 2,064.3 1,338.8
Total Debt 287.9 180.1
Shareholders' Equity 1,588.3 1,112.3
Net Loss (19.5 ) (20.8 )
Net Loss per Share (0.05 ) (0.08 )

(1) Includes Cash and Cash equivalents, Short-term investments, Restricted cash and Cash collateral.

The consolidated financial statements and Management Discussion and Analysis for the year ended December 31, 2010 will be filed on SEDAR prior to March 31, 2011.

Osisko Mining Corporation is currently developing the Canadian Malartic gold deposit, evaluating adjacent areas for a large-scale open pit, bulk-tonnage mining operation and pursuing exploration of the Hammond Reef Project. The Company is well-funded with approximately $400 million on hand.
 
April 20, 2011 10:57 ET
Orex Exploration Inc.: Drilling Campaign Has Begun at Goldboro

MONTREAL, CANADA--(Marketwire - April 20, 2011) -OSISKO MINING CORPORATION (TSX:OSK)(FRANKFURT:EWX) and OREX EXPLORATION INC. (TSX VENTURE:OX)(FRANKFURT:O5D) would like to inform shareholders that Osisko Mining Corporation has recently begun a new exploration drilling campaign at Orex's wholly-owned Goldboro Gold Property. This drilling campaign includes nine holes for approximately 2,400 metres on two areas of the Goldboro Gold Property. The areas to be drilled include: 1) a 600-metre long gap between West Goldbrook and Dolliver Mountain, where there is no record of previous drilling due to a large bog that limited access; and 2) a 750-metre long gap from East Goldbrook to the east property boundary.

Three diamond drill holes (750 metres) are planned spaced 200 m apart in the West GoldBrook – Dolliver Mountain gap where there is no record of previous drilling. At the east end of the gap, 2010 drill hole number OSK10-09 yielded 36.5 metres (m) grading 1.07 grams per tonne (g/t) gold (Au) and containing a 10.5 m interval grading 2.15 g/t Au at a vertical depth between 150 m to 200 m below surface. The mineralized zone is projected to extend up-plunge westerly towards surface in the area to be drilled (refer to news release of June 10, 2010).

Six drill holes (1,650 metres) are planned on 3 sections spaced 250 m apart from East Goldbrook to the east property boundary. In 2010, reverse circulation (RC) drilling was completed along a fence of closely spaced holes (25 to 50 metres apart) across the indicated trend of mineralization in this area. Bedrock chip samples from 6 RC holes yielded grades above 0.1 g/t Au, within a 250 m-wide mineralized corridor extending eastward from East Goldbrook. Three of these RC holes contained bedrock chip samples with grades above 1.0 g/t Au specifically; 1.38, 10.85 and 25.65 g/t Au respectively (refer to news release of November 18, 2010).

Option on Goldboro Gold Property Granted to Osisko Mining Corporation

In order to acquire a 50% undivided interest in the Goldboro Gold Property on or before September 29, 2013 (the Initial Option), Osisko Mining Corporation shall incur exploration and development expenditures in the amount of at least $1,500,000 on or before September 29, 2010; in the aggregate amount of at least $3,500,000 on or before September 29, 2011; and in the aggregate amount of at least $8,000,000 over the following two years, that is, on or before September 29, 2013. Osisko Mining Corporation may, at its sole discretion, accelerate and apply exploration and development expenditures to future years' expenditures and, accordingly, the Initial Option may be exercised sooner. Osisko Mining Corporation shall solely fund a prefeasibility study to earn an aggregate 60% interest (that is, an additional 10% interest) in the Property on or before September 29, 2015 (the Additional Option).
 
Osisko Announces Revised Mine Production Plan at Canadian Malartic
Gold Production Forecast at 1.02M ounces over next 18 months

Apr. 28, 2011 (Marketwire Canada) --

MONTREAL, QUEBEC -- Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX) ("Osisko") is pleased to provide a revised summary of the annual mine production plan for its 100%-owned Canadian Malartic project. This new plan is based on the $US1000 gold reserve estimate of 10.71M ounces gold that was recently disclosed (see March 31, 2011 press release). G Mining Services of Montreal are the independent consultants for Osisko who have authorized the release of the following plan. Highlights include:

Gold production (which started this month) will total 1.02 M ounces over the next 18 months;

Recoverable gold has increased by 1.46 M ounces to 9.18 M ounces (at 85.8% recovery) from the previously disclosed figure of 7.72 M ounces (at 86.1% recovery; see February 10, 2010 press release).

Mine life has increased 31 percent (3.8 years) to 16.0 years, based on a 55,000 tonnes per day (tpd) milling rate that will increase to 60,000 tpd in mid-2012.

Average of 625,000 oz. per year gold production during the first full five years (2012-2016);

Average of 574,000 oz. per year gold production during 16-year life of mine.

Sean Roosen, President and CEO, noted: "We are very pleased to present our shareholders with this updated mine plan that is based on the latest engineered pit and new reserve estimates of 10.7 M ounces gold. The reserve and resultant mine schedule are based on $US 1000 oz. gold price, which is 33 percent less than current spot price. Start-up and commissioning are going very smoothly at Canadian Malartic and production has commenced on a 24-hour per day basis with six doré bars poured to date. Studies are under way to ramp up production to 65,000 tonnes per day in 2013, which will have the effect of boosting annual production. We are continuing our intensive drilling program on the Canadian Malartic property and expect to continue to bring in additional reserves in the coming years".

The updated summary of the annual mine production plan at the previously-established milling rate is outlined in the following table:
 
Annual and Special Meeting of Shareholders of Osisko Mining Corporation

May 11, 2011 (Marketwire Canada) --

MONTREAL, QUEBEC -- The Annual and Special Meeting of Shareholders of Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX) will be held Thursday, May 12, 2011, at 4:00 p.m., at:

Windsor Salon
1170, Peel Street
Montreal (Quebec)
 
Osisko Releases First Quarter 2011 Results

May 13, 2011 (Marketwire Canada) --

MONTREAL, QUEBEC -- Osisko Mining Corporation (the "Company" or "Osisko")(TSX:OSK)(FRANKFURT:EWX) is pleased to report its review of activities and financial results for the quarter ended March 31, 2011.

Highlights

First gold poured following initiation of plant commissioning in March 2011;
19.3% increase in Canadian Malartic ore reserves;
Receipt of notice for a 90-day pre-environmental assessment planning for Hammond Reef Project;
Completion of construction at Canadian Malartic;
Net loss of $5.3 million.

During the first quarter of 2011, the Company incurred a loss of $5.3 million ($0.01 per share) compared to a loss of $0.6 million ($0.00 per share) in the corresponding period of 2010. The higher loss incurred is mainly due to higher administrative costs reflecting the growth in the Company's activities, higher non-cash charges from the issuance of stock options in the third quarter of 2010 and lower foreign exchange gain.

The results were compiled in accordance with International Financial Reporting Standards.

Sean Roosen, President and CEO, commenting on the first quarter activities: "We are pleased to report that we continue to achieve key milestones as we transition from a development stage company to an intermediate gold producer. We have successfully completed construction at Canadian Malartic, and are progressing through the plant commissioning phase. We achieved first gold pour on April 13, 2011, a huge accomplishment for our team, considering this was all achieved within just six years from the first exploration drill hole we put into Canadian Malartic in March 2005."

The Canadian Malartic Project is expected to be one of Canada's largest gold mining operations. Mr. Roosen further noted: "Our achievements to date result from the outstanding support and contribution that we have received from all of our stakeholders, including employees, contractors, suppliers, the Malartic community, government authorities, lenders and shareholders. We are grateful to all".

Canadian Malartic Project

Investment in construction and development activities amounted to $80.9 million, bringing the total spent to date on the project to $968.8 million.

Plant commissioning is ongoing. During April, approximately 465,000 tonnes were processed (15,500 tonnes per day) yielding some 3,500 ounces of gold. The Company expects to reach commercial production (60% of plant capacity throughput over a 30-day period) in the second quarter.

The Company also announced a 19.3% increase in proven and probable reserves at Canadian Malartic to 10.71 million ounces. Since the issuance of the original feasibility study in November 2008, the gold reserves have increased by 70% (of which 13% is related to the increase in the gold price used and 57% relates to the increase in resources), whereas the mine life has been extended to 16 years. Significant value has been created by an intensive drilling campaign at Canadian Malartic.

The Company's technical team has initiated several studies to enhance shareholder value through expansion and optimization of the processing plant.

Osisko resumed mining activities at night in April and has implemented several mitigating measures to reduce the noise impact on the Malartic community, one of which is to initiate a new relocation program which will increase the buffer zone. Furthermore, the Quebec Government has issued a modified decree for Canadian Malartic, which increases the noise parameters under which the mine can operate.

Hammond Reef Project

An intensive drilling program continues at the Hammond Reef Gold Project acquired in May 2010, with 56,417 metres of drilling completed in the quarter. An updated resource statement is expected later in 2011.

The Company is continuing its stakeholder engagement program with emphasis on the communities surrounding the project.

On April 28, 2011, the Company was advised by the Canadian Environmental Assessment Agency that it was commencing its 90-day pre-environmental assessment planning to determine if a comprehensive study should be commenced. This represents a key milestone in the permitting phase of the project.

Highlights from the Company's financial position are as follows (in millions of dollars):
March 31, 2011 December 31, 2010 (1)
Cash Position(2) 254.4 397.9
Working Capital 180.7 282.9
Total Assets 1,932.7 1,958.9
Total Debt 288.3 287.9
Shareholders' Equity 1,594.0 1,594.0
(1) Revised under IFRS
(2) Includes Cash and Cash equivalents, Short-term investments, Restricted cash and Cash collateral.

The consolidated financial statements and Management Discussion and Analysis for the period ended March 31, 2011 will be filed on SEDAR on May 16, 2011.

Osisko Mining Corporation is currently commissioning the Canadian Malartic gold mine, evaluating adjacent areas for a large-scale open pit, bulk-tonnage mining operation and pursuing exploration of the Hammond Reef Project. The Company is well-funded with approximately $250 million on hand.
 
Sparton and Osisko Finalize $1.2 Million Joint Work Program for 2011 on Area Surrounding Hammond Reef Gold Deposit

May 17, 2011 (Marketwire) --

TORONTO, ONTARIO -- (Marketwire) -- 05/17/11 -- SPARTON RESOURCES INC. (TSX VENTURE:SRI), (the "Company') is pleased to announce that the 2011 exploration program on Sparton's claims in the Atikokan, Ontario, gold area have been finalized with Osisko Hammond Reef Gold Ltd. the operating subsidiary of Osisko Mining Corporation ("Osisko", TSX-"OSK", "EWX"-Deutsche Boerse). The properties straddle Osisko's Hammond Reef Gold Project property, which hosts a NI 43-101 compliant inferred resource of 6.7 million ounces of gold (259.4 million tonnes at a grade of 0.8 grams per tonne, using 0.3 grams per tonne cut-off), of which 97% lies within 300 metres of surface. The Sparton property package is subject to a recently executed joint venture agreement with Osisko. (See Sparton News release dated March 21, 2011).

WORK PROGRAM

Osisko, as the manager of the project, submitted a comprehensive $1.2 million dollar work program to the project management committee which gave its unanimous approval. The planned work will cover both the West Hammond and Clement Lake claims. It will consist of at least 3300 metres of new diamond drilling following up the discoveries made by Sparton on the West Hammond claims, as well as new exploration and follow-up on the prospective zones identified elsewhere on the claim areas. There are also provisions for a comprehensive airborne and ground geophysical program, new grid preparation and geochemical surveys, as well as provision for new stripping, trenching and additional drilling. A team of approximately 8 people will be assigned to the various work programs.

Field work at West Hammond is expected to begin in mid-May and with grid extension line cutting, soil sampling and induced polarization surveys in the northern part of the West Hammond claim area. Several areas of anomalous gold values were located by Sparton in this area in 2010. Assay results from prospecting (grab) samples taken during this indicated several new areas of anomalous gold mineralization. The Clement Lake program will begin later in the field season.

DISCUSSION

"Clearly, the past season's work at West Hammond by Sparton has indicated the potential for new discoveries in this emerging gold mining camp in the Atikokan area. Osisko's Hammond Reef program, with 20 drills operating in the property area, is one of the largest mineral development programs in North America" stated Lee Barker, Sparton's President and CEO. "We are excited and committed to working diligently with Osisko to advance the potential of the properties".

Sparton's domestic and international exploration, development, and evaluation programs are being carried out under the direct supervision of A. Lee Barker, P. Eng., P Geol., Sparton's President and CEO who is a Qualified Person under National Instrument 43-101. Mr. Barker has prepared the contents of this release.
 
Osisko Mining Corporation Acquires 9.2 Percent Stake in Threegold Resources Inc.

May 19, 2011 (Marketwire) --

VAL-D'OR, QUEBEC, CANADA -- (Marketwire) -- 05/19/11 -- Threegold Resources Inc. ("Threegold" or the "Company") (TSX VENTURE:THG) is pleased to announce that Osisko Mining Corporation (Osisko) has purchased 8.6 million common shares of the company on the open market. As of May 15th 2011, this purchase gives Osisko a 9.2 percent stake in Threegold along with the Option agreement that was announced February 14th, 2011 to earn up to 70% interest on the Standard Gold Property.

Standard Gold Property Option with Osisko

Threegold Resources Inc. entered into an option agreement with Osisko on February 14th, 2011,where Osisko may earn a maximum 70% interest in the Standard Gold Property located in the Abitibi region of Quebec. Under the terms of the agreement, Osisko will incur $4 million dollars of exploration expenditures over 5 years and pay $300,000 in cash payments to earn a 51% interest. Under the same terms, Osisko can then earn an additional 19% (up to 70%) by incurring an additional $6 million dollars of exploration or taking the project to feasibility.

The Standard Gold Property includes the past-producing Standard Gold Mine. The Standard Gold Mine operated intermittently between 1935 and 1953, producing an unknown quantity of gold. The mineralization is contained within a diorite sill trending southeast with a width ranging between 150 metres to 200 metres. The sill has been traced through its geophysical signature over a distance of three kilometers and will be a high priority exploration target. The historical resource of the Standard Gold Mine is estimated at 132,750 tonnes grading 5.43 grams per tonne gold.

President and CEO of Threegold Victor Goncalves remarked: "It has been tremendous year of growth for Threegold and its shareholders, and now having attracted Osisko both as a partner on the Standard Gold Property and as an equity stake holder sets the stage for protracted corporate growth and increased shareholder value."

Mr. Sean Roosen, President and CEO of Osisko, stated: "We are very pleased to have established this partnership with Threegold. They have an attractive precious metal property package and Osisko is looking forward to participating in Threegold's ongoing exploration programs."

This press release was reviewed by Antoine Fournier, P. Geo. and Vice-president Exploration for Threegold Resources Inc. and a Qualified Person as defined by NI43-101.
 
Osisko Mining Corporation to Option the Adanac Gold Project From Threegold Resources Inc.

May 26, 2011 (Marketwire Canada) --

VAL-D'OR, QUÉBEC, CANADA -- Threegold Resources Inc. ("Threegold" or the "Company") (TSX VENTURE:THG) is pleased to announce that it has entered into an option agreement with Osisko Mining Corp (TSX:OSK) whereby Osisko may earn a maximum 70% interest in the Adanac Gold Project located in the Abitibi region of Quebec. Under the terms of the agreement, Osisko will incur $4.5 million dollars of exploration expenditures over 4 years and pay $600,000 in cash payments to earn a 51% interest. Under the same terms, Osisko can then earn an additional 19% (up to 70%) by incurring an additional $10 million dollars of exploration or taking the project to feasibility.

Osisko has recently purchased 9.2% of the outstanding Threegold shares in the open market, which was announced on May 19th 2011. Furthermore, Osisko has an option on Threegold's Standard Gold Project located in the Abitibi region of Quebec, where Osisko may earn a maximum 70% interest in the Property. Under the terms of the agreement, Osisko will incur $4 million dollars of exploration expenditures over 5 years and pay $300,000 in cash payments to earn a 51% interest. Under the same terms, Osisko can then earn an additional 19% (up to 70%) by incurring an additional $6 million dollars of exploration or taking the project to feasibility.
 
Birth of a gold major

http://business.financialpost.com/2011/05/29/birth-of-a-gold-major/
 
Osisko proof that Canadian mining industry works

http://business.financialpost.com/2011/05/31/osisko-proof-that-canadian-mining-industry-works/
 
May 31, 2011 17:04 ET
Osisko Officially Inaugurates the Canadian Malartic Mine

MONTREAL, QUEBEC--(Marketwire - May 31, 2011) -

Note to editors: There is a photo associated with this press release.

Osisko Mining Corporation ("Osisko") (TSX:OSK)(FRANKFURT:EWX), a leader in exploration and mining in Quebec, proceeded yesterday with the official inauguration of the Canadian Malartic gold mine, a large-scale open pit mine located in Malartic, Abitibi.

For this event, members of Osisko's Board of Directors and its management team welcomed several guests, including Messrs. Clément Gignac, Quebec's Minister of Economic Development, Innovation and Export Trade; Pierre Corbeil, Minister of Agriculture, Fisheries and Food, Minister responsible for the Abitibi-Témiscamingue and Nord-du-Québec regions and MP for Abitibi-Est; Serge Simard, Minister for Natural Resources and Wildlife; and André Vezeau, Mayor of Malartic.

"Today, we celebrate a new beginning for mining in Malartic", stated Sean Roosen, President and CEO of Osisko. "With the commissioning of the Canadian Malartic mine, the Town of Malartic returns to its rightful place as one of the major gold mining centres in Canada."

Mr. Roosen reminded those in attendance that the success of this billion-dollar-plus project was the result of a collaborative effort involving thousands of people. He particularly emphasized the support from the Town of Malartic and its citizens, and the skills and expertise of Osisko's employees and contractors. He also acknowledged the positive attitude of the Quebec government, always acting in the best interests of its citizens and their environment while adopting a "problem-solving" approach.

About Canadian Malartic

Canadian Malartic is Osisko's first mine to go into production. Osisko estimates it will extract more than 9 million ounces of gold at Canadian Malartic from now until 2027. The mine currently employs 465 people.

Requiring investments of about one billion dollars, the Canadian Malartic Project generated substantial benefits all across Quebec and particularly in the Abitibi-Témiscamingue region, where $500 million of this investment was spent. Osisko received many awards for its project, in recognition of its firm commitment to the principles of sustainable development.

About Osisko Mining Corporation

Established in 1998, Osisko is based in Montreal. Initially focusing on mineral exploration, the company evolved into a mining corporation when it decided to develop the Canadian Malartic Project on its own. Osisko is still involved in mineral exploration in the Abitibi region of Quebec, in Nova Scotia and in Northwestern Ontario with the Hammond Reef Project.

Osisko employs more than 650 people, including employees working at the Canadian Malartic mine.

To view the photo associated with this press release, please visit the following link: http://media3.marketwire.com/docs/OSK0531.jpg
 
Osisko Mining Corporation Vice President of Legal Affairs Joins Threegold Resources Board of Directors

Jun. 1, 2011 (Marketwire Canada) --

VAL-D'OR, QUÉBEC, CANADA -- Threegold Resources Inc. ("Threegold" or the "Company") (TSX VENTURE:THG) is pleased to announce the appointment of Andre Le Bel as a member of the board following the annual general meeting held on May 31, 2011. The shareholders approved all motions put forth at the meeting and ratified the Stock Option Plan. The incumbent directors of Threegold, Messrs. Victor Goncalves , Antoine Fournier, Octavio Soares and Richard Tanguay were reelected for the coming year.

Mr. Le Bel is the Vice-President Legal Affairs and Corporate Secretary of Osisko Mining Corporation since November 2007. From 1997 to November 2006 he held the position of Senior Legal Counsel for Cambior Inc. and he was promoted to Vice-President Legal Affairs of IAMGOLD Corporation following the acquisition of Cambior by IAMGOLD in November 2006. Mr. Le Bel is also a director of RedQuest Capital Corp., a capital pool company.

President and CEO of Threegold Victor Goncalves remarked: "Mr. Le Bel is a welcomed addition, we are excited about the experience and depth Mr le Bel will add to the current board and company".

The company also wishes to announce that in accordance with its stock option plan 1,700,000 options priced at $0.29 have been granted to directors, consultants and employees of the company. The options have been granted in accordance with the terms of the Company's 10% rolling Stock Option Plan and the Policies of the TSX Venture Exchange.
 

OREX: Update on Drilling Campaign at Goldboro

Jun. 8, 2011 (Marketwire Canada) --

MONTREAL, CANADA -- OSISKO MINING CORPORATION ("Osisko") and OREX EXPLORATION INC. (TSX VENTURE:OX)(FRANKFURT:O5D) would like to provide shareholders with an update on the exploration drilling campaign at Orex's wholly-owned Goldboro Gold Property. As previously announced, drilling began in April 2011 on a 750-metre gap from East Goldbrook to the east property boundary, with drill holes on three sections spaced 250 metres apart. A total of six drill holes (OSK11-01 to OSK11-06), representing 1,610 metres of drilling, were recently completed at East Goldbrook.

Samples from these first six drill holes have been submitted to ALS Chemex for assaying. As soon as the Company receives results from the lab, this information will be communicated to shareholders.

Drilling has begun on the 600-metre long gap between West Goldbrook and Dolliver Mountain, where three drill holes are planned spaced 200 metres apart. The Company expects that this current phase of drilling will be completed in June 2011.

Option on Goldboro Gold Property Granted to Osisko Mining Corporation

In order to acquire a 50% undivided interest in the Goldboro Gold Property on or before September 29, 2013 (the Initial Option), Osisko Mining Corporation shall incur exploration and development expenditures in the amount of at least $1,500,000 on or before September 29, 2010; in the aggregate amount of at least $3,500,000 on or before September 29, 2011; and in the aggregate amount of at least $8,000,000 over the following two years, that is, on or before September 29, 2013. Osisko Mining Corporation may, at its sole discretion, accelerate and apply exploration and development expenditures to future years' expenditures and, accordingly, the Initial Option may be exercised sooner. Osisko Mining Corporation shall solely fund a prefeasibility study to earn an aggregate 60% interest (that is, an additional 10% interest) in the Property on or before September 29, 2015 (the Additional Option).
 
June 13, 2011 10:15 ET
Osisko and Clifton Star Release Resource Estimate for the Beattie Deposit

MONTREAL, QUEBEC--(Marketwire - June 13, 2011) - Osisko Mining Corporation ("Osisko")(TSX:OSK)(FRANKFURT:EWX) and Clifton Star Resources Inc ("Clifton")(TSX VENTURE:CFO)(FRANKFURT:C3T) are pleased to provide an independent NI 43-101 compliant gold mineral resource estimate for the Beattie deposit at the Duparquet Project, located in the Abitibi region of Quebec. This estimate is restricted to the Beattie deposit, part of the larger Beattie-Donchester mineralized corridor, which was the focus of the 2010 drill program. To be clear, this resource estimate does not include the Donchester, Central Duparquet, Duquesne and Beattie tailings deposits, which are also part of the Duparquet Project.

Key points:

The in situ inferred resource is 2.77 million ounces gold (56.2 million tonnes grading 1.53 g/t Au) using a cut-off grade of 0.67g/t.

The selected base case in-pit inferred resource is 1.72 million ounces (32.0 million tonnes grading 1.67 g/t Au), based on a Whittle-optimized pit shell simulation using estimated operating costs, a gold price of CAN$1100 per ounce and a corresponding lower cut-off grade of 0.67 grams per tonne gold.

At a CAN$1500 per ounce gold price, the in-pit inferred resource increases to 2.50 million ounces at an average grade of 1.39 grams per tonne gold, adding 780,000 ounces compared to the CAN$1100 pit shell and a corresponding lower cut-off grade of 0.49 grams per tonne gold.

No estimate was provided for the eastern extension of the mineralized corridor (Donchester portion, East of Beattie) as 2010 drilling was insufficient to include this portion in a resource category. The mineralized system is still open at depth.

SGS Canada Inc, (SGS Geostat office of Blainville, Québec, "SGS") are the independent resource estimate consultants for the Duparquet project who have authorized the release of the following estimates. The in situ inferred resource is 2.77 million ounces of gold at an average undiluted grade of 1.53 g/t Au, based on a lower cut-off grade of 0.67 g/t Au. The table below summarizes the SGS block model estimates using variable lower cut-off grades:

.
.
.

http://www.marketwire.com/press-release/osisko-and-clifton-star-release-resource-estimate-for-the-beattie-deposit-tsx-osk-1525870.htm
 
June 14, 2011 08:09 ET
Osisko Intersects 1.50 g/t Au Over 63.6 Metres at Jeffrey Zone

MONTREAL, QUEBEC--(Marketwire - June 14, 2011) - Osisko Mining Corporation ("Osisko") (TSX:OSK)(FRANKFURT:EWX) and Golden Valley Mines Ltd. (TSX VENTURE:GZZ) are pleased to announce final results from the 2010 drill program at the Jeffrey Zone on the Malartic CHL Property, currently under option from Golden Valley Mines Ltd. and located immediately east of Osisko's 100%-owned Canadian Malartic gold mine.

Highlights from 74 new drill holes include: 63.6 metres averaging 1.50 g/t Au (CHL10-2351), 64.8 metres averaging 1.47 g/t Au (CHL10-2347, uncut), and 55.4 metres averaging 1.39 g/t Au (CHL10-2297). Assay results are summarized in the table below:

.
.
.

http://www.marketwire.com/press-release/osisko-intersects-150-g-t-au-over-636-metres-at-jeffrey-zone-tsx-osk-1526322.htm
 
Osisko Submits Notice of Termination in Duparquet Project

Jun. 17, 2011 (Marketwire) --

MONTREAL, QUEBEC -- (Marketwire) -- 06/17/11 -- Osisko Mining Corporation ("Osisko")(TSX:OSK)(FRANKFURT:EWX) has notified Clifton Star Resources Inc. of its decision to terminate its participation in the Duparquet Mining Camp Project in accordance with the Option and Joint Venture Agreement (the "Agreement"). Under the terms of the Agreement, a 30-day notice is required prior to the termination becoming effective.
 
June 21, 2011 15:20 ET
Osisko Declares Commercial Production at Canadian Malartic

MONTREAL, QUEBEC--(Marketwire - June 21, 2011) - Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX), the Board of Directors, management and staff are very proud to announce the declaration of commercial production at their flagship Canadian Malartic Mine located in Malartic, Quebec.

Sean Roosen, President and Chief Executive Officer, commented on reaching this major milestone: "It is our great pleasure to report that our gold milling plant has processed an average of 33,300 tonnes per day during the 30-day period ending June 17, 2011. Our operating team has been successful in ramping up production rapidly and we are seeing steady progress on a daily basis in all facets of our operations. The rapid development of the Canadian Malartic Project from exploration to commercial production is a tribute to the hard work, dedication and expertise of our employees and contractors. With great pride we present Canada's newest and largest commercial gold mine".

Commercial production is determined within the gold industry as the first continuous 30 day period of plant operation at a rate of 60% of design capacity, which is 33,000 tonnes per day for the Canadian Malartic Mine. Accordingly, the first day of commercial production was May 19, 2011.

Milling Operations

.
.
.

http://www.marketwire.com/press-release/osisko-declares-commercial-production-at-canadian-malartic-tsx-osk-1529771.htm
 
Osisko Mining Corporation Begins Exploration on Threegold's Adanac Project

Jun. 28, 2011 (Marketwire Canada) --

VAL-D'OR, QUEBEC -- Threegold Resources Inc. ("Threegold" or the "Company") (TSX VENTURE:THG) is Pleased to Announce That Osisko Mining Corporation ("Osisko") has Begun Exploration on the Adanac Gold Project. Preliminary Work on Adanac Includes Some Data Validation and Integration of Previous Data Into a Comprehensive Database, Relogging of Some Key Holes, Characterization of the Known Alteration and Mineralization and Extensive Surface Sampling. Diamond Drilling is Scheduled to Commence Thereafter. Osisko is Currently Planning on Spending Approximately $750,000 on Adanac for the First Year of Exploration. the Target is a Low Grade, Bulk Tonnage Gold Deposit. Geology and Alteration Mineralogy at Adanac Are Similar to What has Been Observed at Canadian Malartic.

Osisko has Also Commenced Compiling and Analyzing Exploration Data on Threegold's Standard Gold Property, Located in Duverny Township, Abitibi. Osisko is Currently Planning on Spending Approximately $500,000 on the Standard Gold Property for the First Year of Exploration.
 
AU33 West Option and Joint Venture Agreement Between Osisko and DIOS Exploration

MONTREAL, QUEBEC, CANADA--(Marketwire - July 8, 2011) - Management of DIOS EXPLORATION (TSXV:DOS.V) is pleased to report the execution of the AU33 WEST GOLD PROPERTY (AU33) OPTION AND JOINT VENTURE AGREEMENT with OSISKO MINING CORPORATION, whereby DIOS grants to OSISKO the option to earn a 51 % participating interest, by incurring expenditures in an amount totaling $ 5,000,000 on AU33 and making cash payments to DIOS in an amount totaling $ 700,000 during a five year period (incl. LOI payment).

DIOS further grants to OSISKO a second option to earn up to a 9 % additional participating interest by incurring, $ 9,000,000 of additional expenditures on AU33 during a maximum period of five years, each million dollars ($ 1,000,000) of additional expenditures increasing OSISKO's participating interest by 1%.

DIOS further grants to OSISKO a third option to earn an additional 10 % participating interest by solely funding a feasibility study pertaining to AU33 within a time period equal to the greater of: (i) the remaining time before expiry of the second option period and (ii) a period of two years. During the option period, OSISKO will be Manager but shall preferentially use, where possible, the personnel and the facilities of DIOS.

AU33 is located in the Opinaca-Eastmain 1 area, about 350 km northeast of Matagami, James Bay, Quebec, and comprises 519 mining cells (claims) covering some 26,660 hectares. A porphyry gold type deposit is looked for on AU33. The emerging Opinaca gold district is also hosting the worldclass-multi-million ounce Eleonore gold deposit.

Management of DIOS would like to welcome and acknowledge OSISKO as a strategic player and partner for gold exploration on AU33.
 
August 05, 2011 09:18 ET
Osisko Buys Back a 1% Royalty Interest on Canadian Malartic Property

MONTREAL, QUEBEC--(Marketwire - Aug. 5, 2011) - Osisko Mining Corporation ("Osisko")(TSX:OSK)(FRANKFURT:EWX), is pleased to announce that it has purchased back a 1% royalty interest from Géoconseils Jack Stoch Limitée in consideration for the issuance of 460,000 common shares of Osisko. This royalty was encumbering a portion of the Canadian Malartic and Barnat deposits and is part of a 2.5% Gross Metal Royalty interest that was granted as a result of the acquisition of certain claims of the Canadian Malartic property in March 2006.

Sean Roosen, President and Chief Executive Officer, noted: "The partial buy back of the Stoch royalty allows us to reduce our cash costs and provides our shareholders with an increased participation in a rising gold market".

Following this purchase, only 60% of the recoverable gold ounces at the Canadian Malartic mine will be subject to a 1.5% Net Smelter or Gross Metal Royalty, based on the most recently published reserve estimates (see March 31, 2011 press release).

Second Quarter 2011 Results Conference Call

Osisko will host a conference call on Friday, August 12 at 10:00 AM EDT, where senior management will discuss the financial results and provide an update of the Company's activities. Those interested in participating in the conference call should dial in at 416-981-9000 (Toronto local and international), or 1-800-755-1805 (North American toll free). An operator will direct participants to the call.
 
August 11, 2011 10:17 ET
Goldboro Gold Project Drill Assay Results Identify Extensions to Mineralized Zones at East Goldbrook

MONTREAL, QUEBEC--(Marketwire - Aug. 11, 2011) - OREX EXPLORATION INC. (TSX VENTURE:OX) (FRANKFURT:O5D) and OSISKO MINING CORPORATION (TSX:OSK) (FRANKFURT: EWX) would like to provide shareholders with final assay results from the diamond drilling campaign that began in April of this year at Orex's wholly-owned Goldboro Gold Property in Nova Scotia. A total of 10 drill holes, representing 2,375.4 metres, were completed in this campaign. A total of six drill holes (OSK11-01 to OSK11-06), representing 1,610 metres of drilling, were completed at East Goldbrook. A total of four drill holes (OSK11-07 to OSK11-10), representing 765.4 metres of drilling, were completed in the gap area between West Goldbrook and Dolliver Mountain. All gold assays for this campaign have now been received. Significant gold intervals from the assays from this campaign are presented in Table 1.

The six drill holes at the East Goldbrook area were completed on three sections spaced 250 metres apart extending to the east property boundary. The holes were designed to cross-section an approximate 250- metre wide corridor identified by 2010 reverse circulation (RC) drilling to contain bedrock chip samples from six RC holes yielding grades from 0.1 to 25.65 g/t Au (refer to news release of November 18, 2010).

Results from the drilling at East Goldbrook indicate the presence of narrow high-grade gold veins often with visible gold and frequently associated with wider zones of lower-grade values extending over the 500-metre strike length to the property boundary. The mineralization is likely plunging shallowly to the east, and additional drilling will be required to further delineate the zones.

The remaining four drill holes were completed on three sections spaced 200 metres apart in the West Goldbrook – Dolliver Mountain gap, where there is no record of previous drilling. One drill hole, OSK11-07, was abandoned prior to reaching its target depth due to drilling problems. The remaining holes each intersected occasional narrow high-grade veins; however, the wall rock contains little mineralization.

Mr. Mark Billings, President and CEO of Orex, added, "The results from this campaign confirm the presence of important gold mineralization at the eastern section of our Goldboro Gold Property. There are over 500 metres of strike length that could potentially add significant upside to our current resources. In addition, we continue to find gold mineralization along the strike length of the Goldboro Gold Property, as evidenced by the results in the gap area between West Goldbrook and Dolliver Mountain. Although some of the zones are narrow, the high grades may support an eventual underground exploitation."

.
.
.

http://www.marketwire.com/press-release/goldboro-gold-project-drill-assay-results-identify-extensions-mineralized-zones-east-tsx-venture-ox-1548708.htm
 
August 11, 2011 16:17 ET
Osisko Releases Second Quarter 2011 Results

MONTREAL, QUEBEC--(Marketwire - Aug. 11, 2011) - Osisko Mining Corporation (the "Company" or "Osisko") (TSX:OSK)(FRANKFURT:EWX) is pleased to report its review of activities and financial results for the quarter ended June 30, 2011.

Highlights

Commencement of commercial production at Canadian Malartic on May 19, 2011
Gold production of 46,605 ounces
Continued progress in mill and mine ramp up
Mine operating earnings of $1.6 million
Loss of $23.8 million
Withdrawal from Duparquet Project

The Canadian Malartic Mine successfully commenced commercial production on May 19, 2011, approximately six years after the first drilling conducted by Osisko at Malartic in March 2005. Commercial production was established on the first day of a 30-day period during which the mill processed 60% or better than the mill design capacity of 55,000 tonnes per day. Since introduction of ore in March, the ramp up has been successful despite the stops and starts that are normally experienced during the initial phase of a mining operation.

Sean Roosen, President and Chief Executive Officer commenting on the second quarter activities: "We are extremely proud of our team's efforts in rapidly moving Canadian Malartic from an exploration project to a producer, particularly considering the major challenges of developing a $1 billion project in an urban area."

The Canadian Malartic operations are expected to produce between 235,000 and 245,000 ounces of gold during the second semester of 2011 at an estimated cash cost of between $675-$775 per ounce. The progression is anticipated to continue in 2012 with the mine producing approximately 700,000 ounces at an estimated cash cost of $450-$500 per ounce.

Sean Roosen commenting on the forecast: "We are aiming to produce one million ounces over the next 18 months in a very favorable gold market. The expected strong margins should result in a payback of the project in slightly less than two years".

The Canadian Malartic Mine generated a $1.6 million profit during its initial 43-day operating period from the sale of 8,300 ounces. The remaining ounces produced during commercial production are in the circuit inventory. For the second quarter, Osisko incurred a loss of $23.8 million ($0.06 per share) due mainly to the write-off of Duparquet Project ($10.9 million), higher administrative costs, and expensed finance costs now that the Canadian Malartic Mine is in commercial production. The second quarter loss in 2010 amounted to $10.2 million ($0.03 per share). There were no mining operations prior to May 2011.

For the year-to-date, the loss totaled $29.1 million ($0.08 per share) compared to a loss of $10.7 million ($0.03 per share) in the corresponding period in 2010.

Canadian Malartic Mine

The Canadian Malartic Mine produced 46,605 ounces of gold in the second quarter from the treatment of 1.5 million tonnes of ore. Ore was first introduced late in March. Production statistics for the quarter are as follows:

.
.
.

http://www.marketwire.com/press-release/osisko-releases-second-quarter-2011-results-tsx-osk-1548885.htm
 
Osisko Director Resigns

MONTREAL, QUEBEC--(Marketwire - Aug. 22, 2011) - Osisko Mining Corporation ("Company") (TSX:OSK)(FRANKFURT:EWX) reports that Mr. André J. Douchane has tendered his resignation from the Board of Directors due to conflict of work commitments.

Victor H. Bradley, Chairman of the Board of Directors, commenting on Mr. Douchane's resignation: "We are reluctant to see Mr. Douchane's resignation however we understand the necessity and would like to express our appreciation for his contribution over the past four years, as the Company progressed from the exploration phase to reaching full production and becoming a leading intermediate gold producer."
 
Du musst dich einloggen oder registrieren, um hier zu antworten.
Oben Unten