Osisko Development Updates Bulk Sampling and Site Progress

Osisko Development Announces Significant Progress at Cariboo Gold Project

Osisko Development Corp. (NYSE: ODV, TSXV: ODV) is thrilled to share exciting updates on its bulk sampling and underground development initiatives at the Cariboo Gold Project. With this project located in the heart of British Columbia, significant advancements mark a major step in the company's growth strategy.

Completion of Underground Development

The company proudly announces that it has achieved complete underground development, totaling about 1,172 meters to secure access to the targeted area for bulk sampling within the project’s Lowhee Zone. This milestone sets the stage for extracting valuable mineralized material.

Upcoming Bulk Sample Extraction

Plans are now in motion for extracting 10,000 metric tonnes of mineral-rich material, with preparations in the final stages. The blasting and extraction phases are anticipated to wrap up soon, with results from this bulk sample expected to enhance the findings of the optimized feasibility study planned for mid next year.

Importance of Bulk Sampling

Sean Roosen, the Founder, Chairman, and CEO of Osisko Development, expressed enthusiasm about the team’s progress: "Completing approximately 1.2 kilometers of underground work brings us closer to our bulk sampling targets. We are thrilled to be directly engaging with the orebody and validating the geological models of the Cariboo Gold Project. Once we extract the bulk sample, it will go through an ore sorting process at Tomra's specialized facility to ensure accurate data on grades related to our resource models." This thorough investigation aims to substantially derisk the project's technical aspects as the company seeks a fully funded financing route to propel the project forward.

Upcoming Testing and Data Validation

The extracted bulk sample undergoes further testing at Tomra's facility, a pivotal step that will yield critical data regarding the project's grades and help validate operational assumptions surrounding ore sorting techniques. This analysis is crucial for establishing the technical validity of the project while reinforcing confidence among stakeholders regarding its potential.

Expertise and Approvals

All technical aspects presented in this update have been meticulously reviewed by Daniel Downton, P.Geo., the Chief Resource Geologist of Osisko Development, underscoring the commitment to maintaining stringent standards within the industry. The insights and recommendations from qualified professionals are integral to navigating the project's development landscape.

Osisko Development's Strategic Commitment

Osisko Development is committed to cultivating North American mining projects that not only promise returns but also prioritize environmental sustainability and ethical practices. The company has set its sights firmly on advancing its 100%-owned Cariboo Gold Project while continuously exploring potential within its portfolio, which includes the Tintic and San Antonio projects.

Contact and Further Information

For anyone interested in gaining more insights into Osisko Development's operations or looking to explore investment opportunities, more information can be found directly on their website or through their dedicated contacts:

Sean Roosen

Chairman and CEO
Email: sroosen@osiskodev.com
Tel: +1 (514) 940-0685

Philip Rabenok

Director, Investor Relations
Email: prabenok@osiskodev.com
Tel: +1 (437) 423-3644

Frequently Asked Questions

What is the purpose of the bulk sample extraction?

The bulk sample extraction aims to gather data for optimizing the feasibility study and validating production assumptions and geological models.

How has Osisko Development progressed with the Cariboo Gold Project?

The company has completed all underground development needed for the bulk sampling and is preparing to extract mineralized material shortly.

What is the significance of these developments for investors?

These advancements highlight the company's commitment to advancing the Cariboo Gold Project, presenting attractive investment opportunities through its strategic groundwork.

When are the results of the bulk sample expected?

The results of the bulk sample are anticipated in the first quarter of next year, which will be critical for the ongoing feasibility study.

Who can provide more information about Osisko Development?

For further details, potential investors can reach out to the company's investor relations contacts listed in the article.

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