Osisko Development Corp. (TSX-V:ODV) is pleased to announce that Tintic Consolidated Metals, LLC an indirect wholly-owned subsidiary of the Company, has closed the previously announced metals stream with Osisko Bermuda Limited pursuant to a Metals Purchase Agreement dated August 12, 2022. All conditions to complete the Stream Agreement have been fulfilled, including TCM’s receipt of the upfront payment of US$20 million from OBL which will be used to advance the development of Tintic. Pursuant to the Steam Agreement, effective as of May 29, 2022, OBL will receive 2.5% of the refined metal production from Tintic until 27,150 ounces of refined gold have been delivered, and thereafter OBL will receive 2.0% of the refined metal production from TCM. OBL will make ongoing cash payments to TCM equal to 25% of the applicable spot metal price on the business day immediately proceeding the date of delivery for each ounce of refined metal delivered pursuant to the Stream Agreement.

For more details on the metals stream with OBL, please refer to the Company’s news release dated May 30, 2022.

About Osisko Development

Osisko Development Corp. is uniquely positioned as a premier gold development company in North America to advance the Cariboo Gold Project and other Canadian, U.S.A. and Mexican properties, with the objective of becoming the next mid-tier gold producer. The Cariboo Gold Project, located in central British Columbia, Canada, is Osisko Development’s flagship asset. The considerable exploration potential at depth and along strike distinguishes the Cariboo Gold Project relative to other development assets. Osisko Development’s project pipeline is complemented by its interest in the San Antonio gold project, located in Sonora, Mexico and the Trixie gold test mine, located in Utah, U.S.A.