Osisko Metals Incorporated (TSX-V: OM) (OTCQX: OMZNF) (FRANKFURT: 0B51) announces that further to its news release dated June 15^th “Osisko Metals Files Pine Point PEA”, it has today filed the associated National Instrument 43-101 technical report for its wholly-owned Pine Point Project, located near the town of Hay River in the Northwest Territories, Canada. The report, entitled “Pine Point Lead-Zinc Project Preliminary Economic Assessment” is dated effective June 11, 2020. The PEA was prepared in collaboration with independent engineering firms BBA Inc., WSP Canada Inc., and Tetra Tech. A summary of key highlights are listed in Table 1.

A copy of the Report can be found at www.sedar.com

Table 1: PEA Highlight Results (all figures in CAN$ unless otherwise noted)

*C1 cost is mine site cost plus smelting, transport and royalty
**All-in costs are C1 plus sustaining CAPEX

Cautionary Statement: The reader is advised that the PEA summarized in this press release is preliminary in nature and is intended to provide an initial, high-level review of the project’s economic potential and design options. The PEA mine plan and economic model includes numerous assumptions and the use of Inferred Resources. Inferred Resources are considered to be too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

About Osisko Metals

Osisko Metals Incorporated 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 key properties are: 1) the Pine Point Mining Camp located in the Northwest Territories, for which the current PEA has indicated an after-tax NPV of $500M and IRR of 29.6%. The proposed mine, if it entered into production, would be the 4^th largest in the Americas and the 9^th in the world producing clean, high grade zinc and lead concentrates. The Project is host to a Mineral Resource of 12.9Mt of Indicated Mineral Resources grading 6.29% ZnEq and 37.6Mt of Inferred Mineral Resources grading 6.80% ZnEq. The PPMC is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure and paved highway access and with 100 kilometres of viable haulage roads already in place. 2) The Bathurst Mining Camp located in northern New Brunswick, has Indicated Mineral Resources of 1.96 Mt grading 5.77% zinc, 2.38% lead, 0.22% copper and 68.9g/t silver (9.00% ZnEq) and Inferred Mineral Resources of 3.85 Mt grading 5.34% zinc, 1.49% lead, 0.32% copper and 47.7 g/t silver (7.96% ZnEq) in the Key Anacon and Gilmour South deposits. Please refer to the technical report entitled “NI 43-101 Maiden Resource Estimate for the Bathurst Mining Camp, New Brunswick, Canada” dated April 4, 2019 (with an effective date of February 20, 2019) which has been filed on SEDAR.

The mineral resources mentioned in this press release conform to NI43-101 standards and were prepared by independent qualified persons, as defined by NI43-101 guidelines. The above-mentioned mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological grade and/or quality of continuity. Zinc equivalency percentages are calculated using metal prices, forecasted metal recoveries, concentrate grades, transport costs, smelter payable metals and charges (see respective technical reports for details).