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Principal Project: Cu-Ag-Au Porphyry-Skarn in Northern New Brunswick
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Defined Target Area Has Alteration Footprint Larger than Gaspé Copper Project
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Spin-Out Osisko Critical Minerals Corporation to Commence Exploration Following Completion of the Transaction
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TORONTO, Sept. 15, 2026 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce its intentions to create a new mineral exploration company to be named “Osisko Critical Minerals Corporation” (“OCMC”), which will be led by John Burzynski as Chief Executive Officer. OCMC is designed to unlock the value of Osisko Metals non-core projects by transferring a portfolio of mineral exploration properties located in New Brunswick (the “Properties”) into OCMC, a dedicated, standalone vehicle.
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Incoming CEO John Burzynski commented: “We are excited by the prospect of this new copper and critical minerals exploration company and the assets it brings forward. New Brunswick has been home to major metal deposits in the past, and we believe there is excellent potential for defining a significant mineralized bulk-tonnage porphyry-skarn deposit on OCMC’s assets. Historically there has been no exploration for these systems in northern New Brunswick, despite a near-identical geological setting and the relatively close proximity to the Gaspé Copper Project. Much as the Osisko companies redefined gold exploration in Québec with our past work at Canadian Malartic and at Windfall, we believe there is significant untested potential on the assets that will be transferred to OCMC, which could lead to the discovery of new copper deposits in New Brunswick. Plans for OCMC will include an aggressive exploration program and drilling, planned to start following the conclusion and financing of the transaction.”
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Creation of OCMC
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In connection with its creation, the Company intends to explore financing alternatives, with Osisko Metals to retain a minority interest in OCMC following completion of any such financing. An overview of the Properties is included below. Additional details will be provided as matters progress.
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The completion of the transaction and the exact form and consideration of vending the Properties into OCMC are subject to a number of conditions, including the completion of legal and tax structuring analyses; completion of financial analysis; determination of the structure and amount of funding of OCMC; determination of final details of the transaction; settlement of the board of directors and management team for OCMC; and required regulatory approvals. There can be no assurance that any securities of OCMC will be listed on any stock exchange.
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Benefits of the Transaction
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The transaction will provide shareholders of Osisko Metals with an indirect interest in OCMC through the Company’s retained ownership interest in OCMC, which will allow the capital markets to ascribe value to the Properties independently of Osisko Metals core property assets.
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The proposed transaction will enable Osisko Metals to focus on advancing its flagship project, the past-producing Gaspé Copper mine located near Murdochville in Québec’s Gaspé Peninsula. The Company is currently completing resource expansion work on the Gaspé Copper Project, which hosts current pit-constrained Measured and Indicated Mineral Resources of 1.83 Bt averaging 0.32% CuEq and Inferred Mineral Resources of 239 Mt averaging 0.46% CuEq. For more information see the technical report prepared in accordance with NI 43-101 titled “NI 43-101 Technical Report on the Gaspé Copper Project with an Updated Mineral Resource Estimate for the Copper Mountain Deposit, Québec, Canada” dated May 28, 2026 (with an effective date of January 17, 2026) available on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile.