Osisko Gold Royalties Ltd (TSX:OR) (NYSE:OR) is pleased to announce that it has completed an amendment to its silver stream with respect to the Gibraltar copper mine, located in British Columbia Canada, which is operated by a wholly-owned subsidiary of Taseko Mines Limited.

Osisko and Taseko have amended the Silver Stream to increase Osisko’s attributable silver percentage by 12.5% to 100%. Further to this, Osisko and Taseko have also extended the step-down silver delivery threshold to 6,811,603 ounces delivered, accounting for Osisko’s additional silver ownership. In exchange for these amendments Osisko has paid an additional deposit amount of US$12.7 million to Taseko. These amendments were concluded further to the announcement by Taseko on March 25^th, 2024 that it had entered into a definitive agreement to consolidate a 100% interest in Gibraltar by acquiring the remaining 12.5% interest from Dowa Metals & Mining Co., Ltd. and Furukawa Co., Ltd.

Separately, Osisko is pleased to announce the successful closing of its transaction to acquire a 1.8% gross revenue royalty on the Dalgaranga Gold project operated by Spartan Resources Limited in Western Australia for US$44 million, as originally announced on September 30^th, 2024. Osisko’s complementary transaction to acquire a 1.35% GRR on additional regional exploration licenses in proximity to Dalgaranga for US$6 million has also closed.

Jason Attew, President and CEO of Osisko commented:

“We are very pleased to have worked in partnership with Taseko to once again increase our silver exposure associated with the Gibraltar mine in BC. Osisko’s shareholders will benefit from the increased silver stream from a producing mine thanks to a transaction that is consistent with our strategy of adding cash flow from long-life assets in Tier 1 mining jurisdictions.

“Moving to Dalgaranga, since we announced the agreement to acquire the Dalgaranga Royalty just over two months ago, our new partner Spartan has continued to deliver on key milestones, including: the receipt of all key approvals and permits required for underground mining and development; the discovery of a new high-grade gold zone called “Freak”; and the release of an updated Mineral Resource Estimate which demonstrated an impressive 68% increase in contained Indicated ounces, and which will serve as the basis for the upcoming Dalgaranga Feasibility Study. In addition, Spartan recently completed a A$220 million equity raise, which puts the management team in a strong position to accelerate Dalgaranga’s re-start over the next 24 months.”

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais, Ph.D., P.Geo., Vice President, Project Evaluation at Osisko Gold Royalties Ltd, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Osisko Gold Royalties Ltd.

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company which holds a North American focused portfolio of over 185 royalties, streams and precious metal offtakes, including 21 producing assets. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic Complex, one of Canada’s largest gold mines.