Osisko Mining Announces $5 Million Bought Deal Flow-Through Equity Financing

(Montréal, April 18, 2017) Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and Eight Capital (collectively the “Underwriters”), whereby the Underwriters have agreed to purchase, on a “bought deal” basis, 700,000 flow-through common shares of the Corporation (the “Underwritten Flow-Through Shares”) at a price of $7.15 per Underwritten Flow-Through Share (representing a 31% premium to the closing price of common shares of the Corporation on the Toronto Stock Exchange (the “TSX”) on April 17, 2017), for gross proceeds of $5,005,000 (the “Underwritten Offering”).

The gross proceeds from the Offering will be used to fund “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to Osisko’s projects in Ontario.

The Offering is being made by way of private placement in Canada. The Offered Securities will not be offered or sold in the United States. The Offering is expected to close on or about April 27, 2017, and is subject to customary closing conditions including, but not limited to, the listing of the Offered Securities on the TSX and the receipt of all necessary approvals, including the approval of the TSX and the relevant securities regulatory authorities. The Offered Securities issued under this Offering will be subject to a four-month hold period.

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry and Lebel-sur-Quévillon areas, a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in Ontario, including the Jonpol and Garrcon deposits on the Garrison property. Osisko continues to be well financed with approximately $190 million in cash and investments.

For further information please contact:

John Burzynski
President and Chief Executive Officer
Osisko Mining Inc.
Telephone: (416) 363-8653

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