Significant Developments at Osisko Development
Osisko Development Corp. (NYSE: ODV, TSX-V: ODV) is pleased to share pivotal updates regarding its 100%-owned Cariboo Gold Project. The project, located in British Columbia, Canada, has reached an exciting milestone as the Mines Act permit is now undergoing final decision-making within the British Columbia Ministry of Energy, Mines, and Low Carbon Innovation. Alongside this, the Environmental Management Act permits review has been wrapped up, with the company eagerly awaiting the referral to the regulatory body soon. Expectations are set for final decisions by the end of this quarter.
Engaging Indigenous Nations
One of the cornerstones of Osisko Development's strategy is fostering collaborative relationships with local Indigenous communities. This commitment is underscored by years of dialogues, reflected in the successful implementation of agreements with the Lhtako Dené Nation and the Williams Lake First Nation, established in recent years.
Continued Dialogue with Xat??ll First Nation
While a final agreement with the Xat??ll First Nation is still in progress, Osisko Development is steadfast in its commitment to ongoing engagement. Chairman and CEO Sean Roosen emphasized the company's dedication to fair negotiations, ensuring that offers for financial and other realms of support are competitive with those extended to other Indigenous partners.
Commitment to Sustainable Operations
The Cariboo Gold Project is not just about mining; it's about creating a modern and safe operation that integrates sustainability. Osisko Development aims to engage in open and constructive dialogues to ensure that the project benefits all stakeholders involved, affirming Roosen's statement on the importance of respecting the permitting process integrity through comprehensive consultations.
Achievements in Environmental Assessment
Over the past four years, Osisko has strived to cultivate positive relationships with provincial regulators, Indigenous nations, and host communities. A significant achievement includes the receipt of the Environmental Assessment Certificate, secured on October 10, 2023. This certificate was a result of the company addressing over 1,700 comments during the EA review process.
Feedback Mechanism in Focus
The constructive engagement extended to all stakeholders generated valuable feedback, with the Mine Review Committee overseeing four rounds of review that resulted in the resolution of over 1,800 comments. Osisko remains committed to maintaining these productive relationships and fulfilling its obligations moving forward.
About Osisko Development Corp.
Osisko Development is a prominent player in the North American gold sector, focusing on revitalizing past-producing camps in mining-friendly areas. Their goal is to emerge as an intermediate gold producer while advancing their flagship Cariboo Gold Project. Alongside this, they are developing other projects, including the Tintic Project in the historic East Tintic mining district in Utah and the San Antonio Gold Project located in Sonora, Mexico. With a strong emphasis on brownfield exploration, the company also aims to minimize development risks while maximizing the potential of their properties.
Strategic Initiatives for Growth
Osisko Development’s approach combines long-term vision with social responsibility. Their strategy revolves around not just extracting resources but creating environmentally sustainable mining assets that bolster local economies. This comprehensive methodology ensures that operations remain robust and resilient in the face of market changes.
Frequently Asked Questions
What is the current status of the Cariboo Gold Project?
The Cariboo Gold Project is awaiting final decisions on its Mines Act and Environmental Management Act permits as part of its advancement towards development.
How does Osisko Development engage with Indigenous communities?
Osisko Development engages through extensive consultations and partnership agreements with local Indigenous nations to foster collaborative relationships.
What are Osisko Development's future goals?
The company aims to become an intermediate gold producer by advancing its Cariboo Gold Project and other projects while maintaining sustainable practices.
What recent achievements has Osisko Development accomplished?
Recently, Osisko received its Environmental Assessment Certificate, which was a significant milestone demonstrating its commitment to environmental stewardship and stakeholder engagement.
Who can I contact for more information about Osisko Development?
For inquiries, contact Sean Roosen, Chairman and CEO, at sroosen@osiskodev.com or Philip Rabenok, Director of Investor Relations, at prabenok@osiskodev.com.
