Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX: OM,OTC:OMZNF ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

New analytical results are presented below (see Table 1), including 35 mineralized intercepts from ten new drill holes. Infill intercepts are located inside the 2024 MRE model ( see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both’). Maps showing hole locations are available at www.osiskometals.com .

Highlights:

• Drill hole 30-1128
  • 330.6 metres averaging 0.46% Cu (0.49% CuEq – expansion)
• Drill hole 30-1115
  • 33.0 metres averaging 1.28% Cu (1.36% CuEq – expansion)
• Drill hole 30-1117
  • 779.0 metres averaging 0.26% Cu (0.34% CuEq – infill and expansion)
• Drill hole 30-1118
  • 555.9 metres averaging 0.20% Cu (0.26% CuEq – infill)
• Drill hole 30-1123
  • 313.5 metres averaging 0.23% Cu (0.28% CuEq – infill and expansion)
  • 220.5 metres averaging 0.20% Cu (0.30% CuEq – expansion)
• Drill hole 30-1125
  • 293.0 metres averaging 0.23% Cu (0.30% CuEq – expansion)
• Drill hole 30-1126
  • 804.0 metres averaging 0.24% Cu (0.31% CuEq – infill and expansion)
• Drill hole 30-1130
  • 347.7 metres averaging 0.24% Cu (0.29% CuEq – infill)
• Drill hole 30-1131
  • 714.0 metres averaging 0.21% Cu (0.27% CuEq – both)

Table 1: Infill and Expansion Drilling Results

* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.

Discussion

Drill hole 30-1115, located on the eastern margin of the 2024 MRE model, did not intersect significant mineralization to a depth of 499 metres, but cut relatively high grades of 33.0 metres averaging 1.28 % Cu, 8.89 g/t Ag within the C Zone skarn horizon (expansion), as well as 56.1 metres averaging 0.59 % Cu and 3.52 g/t Ag, above the E Zone skarn horizon. The hole ended in an E zone stope where massive sulfides and high-grade skarns were previously mined.

Drill hole 30-1117, located on the western flank of Copper Mountain, cut three mineralized intervals including 779.0 metres averaging 0.26 % Cu, 1.68 g/t Ag and 0.019% Mo (which includes 312.5 metres of depth expansion), extending mineralization in this area to a vertical depth of 991 metres.

Drill hole 30-1118, located near the southern lip of the Copper Mountain open pit, cut two mineralized intervals including 555.9 metres averaging 0.20 % Cu, 1.00 g/t Ag and 0.008% Mo (infill) as well as a deeper intersection of 151.5 metres averaging 0.11 % Cu, 0.77 g/t Ag and 0.027% Mo (expansion), extending mineralization in this area to a vertical depth of 776 metres.

Drill hole 30-1123, located on the southern flank of Copper Mountain, cut three mineralized intersections, 14 to 36 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 137 metres, followed by 313.5 metres averaging 0.23 % Cu, 1.84 g/t Ag and 0.012% Mo (infill and expansion) and then by 220.5 metres averaging 0.20 % Cu, 1.63 g/t Ag and 0.024% Mo (expansion), extending mineralization in this area to a vertical depth of 774 metres.

Drill hole 30-1125, located approximately 200 metres south of 30-1118, near Copper Brook, cut five mineralized intersections, 30 to 293 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 936 metres, including 184.2 metres averaging 0.20 % C and 0.97 g/t Ag (infill) as well as 293.0 metres averaging 0.23 % Cu, 1.26 g/t Ag and 0.019% Mo (expansion).

Drill hole 30-1126, located on the western flank of Copper Mountain, cut two mineralized intervals including 804.0 metres averaging 0.24 % Cu, 1.48 g/t Ag and 0.016% Mo (which includes 399.4 metres of depth expansion), extending mineralization in this area to a vertical depth of 1033 metres.

Drill hole 30-1127, located near the eastern margin of the 2024 MRE model, cut eight intersections of mineralization, 17 to 45 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 891 metres, confirming the near limit of the 2024 MRE model at this location.

Drill hole 30-1128, located 100 metres south of the southern margin of the 2024 MRE model, cut four mineralized intersections, all expansion outside the current resource model, including 115.5 metres averaging 0.44 % Cu and 3.67 g/t Ag within (and above) the B Zone skarn horizon, as well as 330.6 metres averaging 0.46 % Cu and 4.33 g/t Ag from the top of the C Zone skarn to well below (120 metres) the E zone horizon. This latter intersection included a high-grade interval of 14.5 metres averaging 2.51 % Cu and 24.9 g/t Ag, located in a mineralized vein/massive sulfide zone about 20 metres above the E Zone horizon. This is a new mineralized zone not previously identified at Gaspé Copper and its extent is presently unknown.

Drill hole 30-1130, located on top of Copper Mountain near the center of the 2024 MRE model, cut two significant mineralized intervals including 347.7 metres averaging 0.24 % Cu, 2.14 g/t Ag and 0.010% Mo, followed by 277.5 metres averaging 0.26% Cu, 1.51 g/t Ag and 0.023% Mo, extending mineralization in this area to a vertical depth of 874 metres.

Drill hole 30-1131, located near the southern lip of the Copper Mountain open pit adjacent to 30-1118, was drilled at a 78-degree dip towards the north and it intersected 741 metres of continuous mineralization from surface, averaging 0.21 % Cu, 1.11 g/t Ag and 0.015% Mo (infill). This hole confirmed mineralization in this area to a vertical depth of 725 metres, ending in the porphyry intrusion core of the Copper Mountain deposit.

Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. One prograde and at least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier, bedding replacement skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-parallel mineralization, that is mostly stratigraphically controlled, dominates in the area of lower Copper Mountain, Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).

The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

Most holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

Table 2: Drill hole locations

Explanatory note regarding copper-equivalent grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum, and US$24/oz silver; 3) estimated recoveries of 92%, 70%, and 70% for Cu, Mo, and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7%, and 75.0% for Cu, Mo, and Ag respectively.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres or less are not reported unless indicating significantly higher grades .   True widths are estimated at 90 – 92% of the reported core length intervals.

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission, or other regulatory authority has approved or disapproved the information contained herein.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1363bf79-5e03-4101-a728-51e24d82c5b7
https://www.globenewswire.com/NewsRoom/AttachmentNg/3081ce36-9665-4fc1-95ee-eeef072ff25b

Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX: OM,OTC:OMZNF ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

New analytical results are presented below (see Table 1), including 35 mineralized intercepts from ten new drill holes. Infill intercepts are located inside the 2024 MRE model ( see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both’). Maps showing hole locations are available at www.osiskometals.com .

Highlights:

• Drill hole 30-1128
  • 330.6 metres averaging 0.46% Cu (0.49% CuEq – expansion)
• Drill hole 30-1115
  • 33.0 metres averaging 1.28% Cu (1.36% CuEq – expansion)
• Drill hole 30-1117
  • 779.0 metres averaging 0.26% Cu (0.34% CuEq – infill and expansion)
• Drill hole 30-1118
  • 555.9 metres averaging 0.20% Cu (0.26% CuEq – infill)
• Drill hole 30-1123
  • 313.5 metres averaging 0.23% Cu (0.28% CuEq – infill and expansion)
  • 220.5 metres averaging 0.20% Cu (0.30% CuEq – expansion)
• Drill hole 30-1125
  • 293.0 metres averaging 0.23% Cu (0.30% CuEq – expansion)
• Drill hole 30-1126
  • 804.0 metres averaging 0.24% Cu (0.31% CuEq – infill and expansion)
• Drill hole 30-1130
  • 347.7 metres averaging 0.24% Cu (0.29% CuEq – infill)
• Drill hole 30-1131
  • 714.0 metres averaging 0.21% Cu (0.27% CuEq – both)

Table 1: Infill and Expansion Drilling Results

* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.

Discussion

Drill hole 30-1115, located on the eastern margin of the 2024 MRE model, did not intersect significant mineralization to a depth of 499 metres, but cut relatively high grades of 33.0 metres averaging 1.28 % Cu, 8.89 g/t Ag within the C Zone skarn horizon (expansion), as well as 56.1 metres averaging 0.59 % Cu and 3.52 g/t Ag, above the E Zone skarn horizon. The hole ended in an E zone stope where massive sulfides and high-grade skarns were previously mined.

Drill hole 30-1117, located on the western flank of Copper Mountain, cut three mineralized intervals including 779.0 metres averaging 0.26 % Cu, 1.68 g/t Ag and 0.019% Mo (which includes 312.5 metres of depth expansion), extending mineralization in this area to a vertical depth of 991 metres.

Drill hole 30-1118, located near the southern lip of the Copper Mountain open pit, cut two mineralized intervals including 555.9 metres averaging 0.20 % Cu, 1.00 g/t Ag and 0.008% Mo (infill) as well as a deeper intersection of 151.5 metres averaging 0.11 % Cu, 0.77 g/t Ag and 0.027% Mo (expansion), extending mineralization in this area to a vertical depth of 776 metres.

Drill hole 30-1123, located on the southern flank of Copper Mountain, cut three mineralized intersections, 14 to 36 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 137 metres, followed by 313.5 metres averaging 0.23 % Cu, 1.84 g/t Ag and 0.012% Mo (infill and expansion) and then by 220.5 metres averaging 0.20 % Cu, 1.63 g/t Ag and 0.024% Mo (expansion), extending mineralization in this area to a vertical depth of 774 metres.

Drill hole 30-1125, located approximately 200 metres south of 30-1118, near Copper Brook, cut five mineralized intersections, 30 to 293 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 936 metres, including 184.2 metres averaging 0.20 % C and 0.97 g/t Ag (infill) as well as 293.0 metres averaging 0.23 % Cu, 1.26 g/t Ag and 0.019% Mo (expansion).

Drill hole 30-1126, located on the western flank of Copper Mountain, cut two mineralized intervals including 804.0 metres averaging 0.24 % Cu, 1.48 g/t Ag and 0.016% Mo (which includes 399.4 metres of depth expansion), extending mineralization in this area to a vertical depth of 1033 metres.

Drill hole 30-1127, located near the eastern margin of the 2024 MRE model, cut eight intersections of mineralization, 17 to 45 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 891 metres, confirming the near limit of the 2024 MRE model at this location.

Drill hole 30-1128, located 100 metres south of the southern margin of the 2024 MRE model, cut four mineralized intersections, all expansion outside the current resource model, including 115.5 metres averaging 0.44 % Cu and 3.67 g/t Ag within (and above) the B Zone skarn horizon, as well as 330.6 metres averaging 0.46 % Cu and 4.33 g/t Ag from the top of the C Zone skarn to well below (120 metres) the E zone horizon. This latter intersection included a high-grade interval of 14.5 metres averaging 2.51 % Cu and 24.9 g/t Ag, located in a mineralized vein/massive sulfide zone about 20 metres above the E Zone horizon. This is a new mineralized zone not previously identified at Gaspé Copper and its extent is presently unknown.

Drill hole 30-1130, located on top of Copper Mountain near the center of the 2024 MRE model, cut two significant mineralized intervals including 347.7 metres averaging 0.24 % Cu, 2.14 g/t Ag and 0.010% Mo, followed by 277.5 metres averaging 0.26% Cu, 1.51 g/t Ag and 0.023% Mo, extending mineralization in this area to a vertical depth of 874 metres.

Drill hole 30-1131, located near the southern lip of the Copper Mountain open pit adjacent to 30-1118, was drilled at a 78-degree dip towards the north and it intersected 741 metres of continuous mineralization from surface, averaging 0.21 % Cu, 1.11 g/t Ag and 0.015% Mo (infill). This hole confirmed mineralization in this area to a vertical depth of 725 metres, ending in the porphyry intrusion core of the Copper Mountain deposit.

Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. One prograde and at least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier, bedding replacement skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-parallel mineralization, that is mostly stratigraphically controlled, dominates in the area of lower Copper Mountain, Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).

The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

Most holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

Table 2: Drill hole locations

Explanatory note regarding copper-equivalent grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum, and US$24/oz silver; 3) estimated recoveries of 92%, 70%, and 70% for Cu, Mo, and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7%, and 75.0% for Cu, Mo, and Ag respectively.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres or less are not reported unless indicating significantly higher grades .   True widths are estimated at 90 – 92% of the reported core length intervals.

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission, or other regulatory authority has approved or disapproved the information contained herein.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1363bf79-5e03-4101-a728-51e24d82c5b7
https://www.globenewswire.com/NewsRoom/AttachmentNg/3081ce36-9665-4fc1-95ee-eeef072ff25b

Discovery of uranium mineralization in ideal geological setting, supported by regional radiometric anomaly, confirms large Rossing-style target

ReeXploration Inc. (TSXV: REE) (FSE: K2I0) (‘ReeXploration’ or the ‘Company’) is pleased to announce the identification of a significant new uranium exploration target at its Eureka Project (‘Eureka’ or the ‘Project’), located in the Erongo mining district, central Namibia. This new uranium target supports the Company’s broader focus on advancing critical-mineral opportunities in stable, mining-friendly jurisdictions.

HIGHLIGHTS:

• New Large-Scale Uranium Target Identified: Immediately southwest of the Eureka Dome, which hosts the Company’s rare earth element (‘REE’) resource and numerous REE targets.
• Strong Regional Radiometric Anomaly: Airborne data defines a 6.5 x 3.5 km zone characterized by high uranium and low thorium responses.
• Evidence of Widespread Uranium Mineralization: Uranium reported in shallow overburden samples from historical exploration, verified by recent scintillometer readings up to 1,500 counts per second (‘cps’).
• Uranium Discovered in Weathered Leucogranites: Field reconnaissance confirmed elevated uranium in occasionally outcropping leucogranites (‘alaskites’), with portable XRF semiquantitative values up to 853 ppm U.
• Along Trend of Namibia’s ‘Alaskite Alley’: Lies within the same structural corridor that hosts major uranium deposits — Rössing, Husab, Etango, Omaholo, and Norasa — which collectively contain more than 1 billion pounds of U₃O₈.
• Geological Setting Matches Rössing-Style Models: Key discovery criteria evident, including 1) proximity to the Welwitschia Lineament, 2) position on the flanks of a major basement dome, and 3) leucogranites intruded into reactive calc-silicate host rocks.

‘This uranium target, which is almost entirely covered by thin overburden, represents a promising exploration opportunity within one of the world’s most prolific uranium belts,’ commented Tolene Kruger, Senior Geologist for ReeXploration. ‘The geology, structural setting, and early results are consistent with the deposit models that led to the discovery of the major leucogranite-hosted uranium deposits within Namibia.’

Christopher Drysdale, Interim CEO for ReeXploration, added ‘The identification of this new target highlights the strong technical work completed by our exploration team and the expanded potential of the Eureka Project. As we continue to advance with our REE resource growth plan within the Eureka Dome, this extensive target immediately outside the Dome adds significant exploration upside and optionality for our shareholders, in one of the world’s most established critical minerals mining jurisdictions. We are looking forward to advancing exploration on our numerous REE targets and this newly identified uranium target, consistent with our strategy to discover significant critical mineral resources that contribute to secure, responsible supply chains.’

Expanded Discovery Potential – Large-Scale Rössing-Style Target

The identification of this target underscores the exceptional potential of the Eureka Project, which now includes a growing pipeline of REE targets alongside this newly recognized uranium opportunity. Review and field validation of government airborne radiometric data revealed extensive uranium anomalies situated off the southwestern margin of the Eureka Dome, which is host to the Company’s REE mineral resources and exploration targets. The government airborne radiometric data shows large-scale uranium anomalies 6.5 x 3.5 kilometres in extent with high uranium and low thorium – characteristic signature for Rössing-style targets (Figure 1).

Figure 1: Company license holding showing REE targets within the Eureka Dome, and high uranium anomalies outlined in red on uranium radiometric (government airborne radiometrics) backdrop. Insert: Thorium radiometric backdrop showing low thorium relative to the uranium anomalies.

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Located Along Trend of Namibia’s Renowned Alaskite Alley

The new uranium target at Eureka is situated along trend of Namibia’s ‘Alaskite Alley’, a structural corridor within Namibia’s Central Zone of the Damara Belt that hosts multiple giant uranium deposits hosted within leucogranites, including Rössing, Husab, Etango, Omaholo and Norasa (Figure 2).

Figure 2: Regional satellite view showing the position of the uranium anomalies southwest of the Eureka Dome, and their proximity to the Welwitschia Lineament and other large uranium deposits in Alaskite Alley.

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Key Geological Criteria Consistent with Major Uranium Deposits

The target exhibits all the key geological criteria consistent with the major uranium deposit models, including (Figure 3):

• Proximity to the Welwitschia Lineament – a major crustal-scale structure, central to ‘Alaskite Alley’, interpreted to have played a key role in localizing uranium-bearing leucogranite intrusions throughout the district.

• The Welwitschia Lineament is located immediately east of the new uranium target at Eureka.

• An Older Basement Dome – that provides the structural architecture for the emplacement of uranium-rich leucogranites around dome margins.

• The Eureka Dome is mapped as the same formation as the Rössing Dome (Etusis Formation).

• Reactive Contact Rocks – typically calc-silicate lithologies (metasediments) which act as chemical traps promoting uranium precipitation.

• Calc-silicates are mapped flanking the Eureka Dome (Arandis Formation).

• The Presence of Leucogranites – late-stage magmatic intrusions which host uranium mineralization in Rössing-style deposits.

• Significant leucogranites are interpreted to exist below the thin overburden at Eureka as sheeted dykes intercalated between calc-silicates, as evidenced by occasional weathered leucogranite outcrop.

Figure 3: Comparison between the major uranium deposits in Alaskite Alley and the airborne uranium anomalies southwest of the Eureka Dome.

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Initial Field Reconnaissance Supports Potential for Rössing-Style Deposit

Field spectrometer prospecting conducted by the Company has confirmed the regional scale of the airborne radiometric uranium anomalies. The anomalies relate to widespread uranium mineralization occurring within thin overburden, which is best visible where drainages have incised a regionally occurring gypcrete/calcrete horizon with anomalous values ranging from 300 to 1,500 counts per second (‘cps’) (Figure 4).

Figure 4: Photographs taken during reconnaissance field work and ground spectrometer survey within the anomalous areas.

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The uranium mineralization within the overburden is potentially indicative of extensive uranium mineralization within the underlying leucogranites, supported by (Figure 5):

1. Discovery of secondary uranium mineralization (carnotite) within weathered/leached leucogranites— pXRF semiquantitative values of up to 853 ppm U.

2. Abundant ‘smokey’ or irradiated quartz within the leucogranites.

3. Spectrometer evidence of uranium enrichment of weathered leucogranites where in contact with chemically-reactive calc-silicates.

Figure 5: Mineralized leucogranite found during reconnaissance field work and the ground spectrometer survey.

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Historical Work Focused on Shallow Overburden Mineralization

Although the target is on trend with Namibia’s Alaskite Alley, its position farther north, together with the thin overburden and the presence of calc-silicates belonging to the Arandis rather than the Khan Formation, likely contributed to the lack of focused historical exploration. Despite the highly favorable geological setting, the target appears to remain largely untested.

Historical uranium exploration at Eureka—outside of the main Eureka Dome and then held under EPL 3637—was primarily directed toward near-surface secondary uranium (carnotite) mineralization hosted within calcrete and gypcrete horizons. While historical work confirmed the presence of leucogranites intruding calc-silicate rocks, these potential bedrock sources were evidently not systematically drill-tested at any depth.

The work completed in 2009 consisted mainly of shallow pitting and percussion drilling (<5 m depth) designed to evaluate surface uranium enrichment in the search for calcrete-hosted (paleochannel-type) uranium deposits such as Langer Heinrich, leaving the primary leucogranite targets effectively untested. Across the broader Eureka license area, historical work included 100 prospecting pits (to 1.8 m depth, averaging 1.3 m) and 139 rotary air-blast (RAB) drill holes totaling only 803 m (i.e. average depth of only 5.8 m). Visible carnotite mineralization was reported in several pits, with uranium values up to 192 ppm U₃O₈ over 1.18 m, confirming uranium enrichment within the overburden and weathered bedrock. Preliminary, non-NI 43-101-compliant historical estimates indicated approximately 600,000 lbs U₃O₈ at 70 ppm within the overburden gycretes and calcretes (see Technical Disclosure below in reference to this historical resource estimate).

Despite best efforts, the Company has been unable to locate additional drill data or records. The summary descriptions provided in the available report suggest that systematic testing of deeper bedrock targets was never completed. This provides a significant opportunity to evaluate the potential for Rössing-style, leucogranite-hosted uranium mineralization beneath the thin overburden.

Drill Testing Warranted Below the Weathering Profile

Given the apparent shallow nature of the historical drilling, any testing of the underlying leucogranite units would have been very limited or non-existent, with exploration evidently focused on surface and near-surface mineralization within the overburden. The highly weathered nature of the limited leucogranite outcrop indicates that leaching has occurred near-surface, and as a result, leucogranites found at surface would not be expected to be mineralized other than possible secondary mineralization (carnotite) — as discovered from initial field reconnaissance. Drilling below the weathering profile is required to test for primary leucogranite-hosted mineralization (uraninite), typical of Rössing-style deposits.

Technical Disclosure

The historical exploration results and historical resource estimate summarized herein are considered historical in nature and have not been verified by the Company’s Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’). These results, including the historical resource estimate, are sourced from Wartha, R.R. (2009). 2009 Annual Technical Report – EPL 3637 (Ancash Investment (Pty) Ltd.), prepared for Valencia Uranium (Pty) Ltd., December 18, 2009. The approximate historical resource estimate was calculated using an area of 1.5 million m² and an average mineralized thickness of 1 to 2 metres within the overburden gycretes and calcretes providing approximately 3.9 million tonnes of mineralization at 70 ppm, totaling in 600,000 lbs of U₃O₈. The historical resource categories used in the estimate do not conform to the current CIM Definition Standards and should not be compared directly to current mineral resource categories. The Company is not aware of any more recent mineral resource estimates for the Property. A Qualified Person has not completed sufficient work to verify the historical estimate or to classify it as a current mineral resource, and the Company is not treating the historical estimate as a current mineral resource. To verify and upgrade the historical estimate, additional work will be required, including data verification, review of historical drilling and sampling QA/QC, updated geological modeling, and completion of a new mineral resource estimate in accordance with NI 43-101 and CIM Definition Standards.

Field analysis of rock samples was carried out using a calibrated SciAps X-555 portable X-Ray Fluorescence (pXRF) analyzer. The instrument is capable of detecting uranium providing a rapid, preliminary, and semi-quantitative indication of uranium concentrations which is considered sufficiently reliable for initial reporting of initial field reconnaissance results. Samples are expected to be verified through uranium assay at an accredited laboratory.

Counts per second (‘cps’) results were collected using an RS-125 handheld gamma-ray spectrometer. The RS-125 measures natural radioactivity from potassium (K), uranium (U), and thorium (Th), providing real-time counts-per-second (cps) readings that assist in identifying zones of elevated radioactivity and guiding geological mapping and sampling programs. The cps measurements are qualitative in nature and should not be interpreted as equivalent to uranium concentrations obtained through laboratory analysis.

Qualified Person

Tolene Kruger, BSc. (Hons), M.Sc., is a consulting geologist and has reviewed and approved the scientific and technical information in this news release. Mrs. Kruger is registered as Professional Natural Scientist (Pr.Sci.Nat.) with the South African Council for Natural Science Professions (SACNASP, Reg. No.: 148182), and a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Ms. Kruger is not independent of the Company under NI 43-101.

About ReeXploration Inc.

ReeXploration (TSXV: REE) (FSE: K2I0) is a Canadian exploration company positioned to help meet surging global demand for secure, responsible supplies of critical minerals essential to the clean energy transition, advanced technologies and national defense. The company’s flagship Eureka Project in central Namibia hosts rare earth element (REE) mineralization in monazite, rich in NdPr magnet metals, with bench-scale testing confirming production of a clean, Western-standard concentrate. Supported by a Namibia-based technical team and guided by global critical minerals experts, ReeXploration is advancing discovery-led growth for rare earth elements (REEs) and other critical minerals, building a credible, ESG-aligned platform positioned to benefit from the global race to diversify and secure responsible supply chains.

Caution Regarding Forward-Looking Information

This press release may contain forward-looking information. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. ReeXploration does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to ReeXploration. Additional information identifying risks and uncertainties is contained in the filings made by ReeXploration with Canadian securities regulators, which filings are available at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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