Osisko Metals Incorporated (TSX-V: OM) (FRANKFURT: 0B51) announces that, as a result of a review by the British Columbia Securities Commission, the Company is issuing this news release to clarify its disclosure in respect of the inferred mineral resource estimate  for its 100% owned Pine Point project located near Hay River, in the Northwest Territories of Canada.

In its news release dated December 6, 2018 announcing the Inferred Resource Estimate, the Company disclosed that it was uncertain whether or not further exploration and definition drilling would result in upgrading the Inferred Resource Estimate to the indicated or measured resource categories.  This statement, which was also included in the independent technical report filed on January 18, 2019 in respect of the Pine Point Project, was inconsistent with the current CIM definition of “Inferred Mineral Resource” which provides that it should be reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.

As a result, the Company has filed an amended and restated technical report today titled “Mineral Resource Estimate for the Pine Point Lead-Zinc Project, Hay River, Northwest Territories, Canada dated January 25, 2019”, and a copy of the Amended Technical Report can be found at www.sedar.com and on the Company’s website.  In addition, the authors of the Previous Technical Report have, in the Amended Technical Report, included the current definitions of the categories of mineral resources, supplemented the disclosure in respect of the Inferred Resource Estimate, deleted all references to “ore” and to historical estimates that were contained in the Previous Technical Report and included additional required disclosure in respect of drilling work conducted on the Pine Point Project.

Mr. Robin Adair, P.Geo and Vice President Exploration of Osisko Metals, is the Qualified Person who has approved of the scientific and technical information contained in this news release.

About Osisko Metals

Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on zinc mineral assets. The Company controls Canada’s two premier zinc mining camps. The Company’s flagship, the Pine Point Mining Camp, located in the Northwest Territories, has an Inferred Mineral Resource of 38.4 Mt grading 4.58% zinc and 1.85% lead, making it the largest high grade, pit constrained zinc deposit in Canada (please refer to the Amended Technical Report for further information). Within the Bathurst Mining Camp, located in northern New Brunswick, the Company is focused on drilling and developing the Key Anacon Project, which previously had only sporadic exploration work since the 1960’s. In 2019, the Company will continue to diligently develop and explore in order to confirm and grow both projects. In Québec, the Company owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration.