Osisko Intersects 211 Metres Averaging 0.59% Cu at Gaspe

Osisko Metals Incorporated (OM) released additional 2026 drill results from its Gaspé Copper Project in Québec, comprising 28 mineralized intercepts from 12 holes (DDH 30-1236 to 30-1247). The results are categorized as infill within the 2026 mineral resource estimate (MRE), in-pit expansion (Expansion 1), and out-of-pit expansion (Expansion 2).

Key intercepts include: - DDH 30-1243 (Expansion 2): 211.5 m @ 0.59% Cu, 2.78 g/t Ag (0.61% CuEq), including 28.5 m @ 2.31% Cu, 11.8 g/t Ag (2.40% CuEq). - DDH 30-1236 (Expansion 2): 86.5 m @ 1.36% Cu, 6.74 g/t Ag (1.37% CuEq), including 18.0 m @ 4.53% Cu, 23.3 g/t Ag (4.78% CuEq). - DDH 30-1239 (Expansion 2): 63.8 m @ 0.98% Cu, including 16.1 m @ 2.54% Cu, 8.98 g/t Ag. - DDH 30-1237 (Expansion 1): 81.2 m @ 0.50% Cu, including 5.0 m @ 2.29% Cu; plus deeper 46.3 m @ 0.58% Cu with 0.143% Mo (1.08% CuEq). - DDH 30-1245 (Infill): 201.0 m @ 0.33% Cu, plus 24.0 m @ 0.68% Cu. - DDH 30-1241 (Expansion 1): 54.0 m @ 0.44% Cu. - DDH 30-1246 (Infill): 341.5 m @ 0.26% Cu and 120.0 m @ 0.32% Cu. - DDH 30-1242 (Expansion 2, ~730 m SW of MRE): three intervals including 41.5 m @ 0.39% Cu.

Hole DDH 30-1238 targeted the C Zone but failed to intersect the pillar, stopping in a stope.

The release notes that holes 30-1236 and 30-1243 are located 500–600 m west of the 2026 MRE model, and that grades around Needle Mountain are improving.

Osisko Metals Incorporated (OM) is a developer-stage company, with its Gaspé project representing one of North America's largest undeveloped copper resources, comprising 1.83 billion tonnes at 0.32% CuEq Measured and Indicated, containing 10.77 billion pounds of copper, and 239 million tonnes at 0.46% CuEq Inferred. The recent release of 12 drill holes featuring good-but-not-world-class intercepts serves as confirmation news flow that feeds a future resource update.

The prior comparable release occurred on September 10, 2026, with drill hole DDH 30-1228 returning 256.5 meters at 0.85% copper, approximately 218 percent-metres, including 28.5 meters at 4.74% copper. Other recent anchors include August 20, 2026 (30-1223: 312.5 meters at 0.56%, approximately 175 percent-metres) and June 9, 2026 (30-1196: 80 meters at 1.93%, approximately 154 percent-metres). The best holes in this release, 30-1243 at 124.8 percent-metres and 30-1236 at 117.6 percent-metres, are approximately 57% of the September 10 anchor on percent-metres, at slightly lower grade.

The market is pricing an ongoing expansion and infill programme rather than a specific repeat of the last headline hole. The results are in-line to slightly weak versus the stream, with genuine western step-out offsets present.

The release is incremental positive, genuinely extending the system west and confirming infill against the block model, but adding no step-change in scale or grade band relative to what the programme has already shown.

Osisko Metals Incorporated (TSX: OM; OTCQX: OMZNF; FRA: 0B51) is a Canadian copper-zinc developer. The company’s Gaspé Copper Project, located in eastern Québec, is a 100%-owned brownfield asset acquired from Glencore in July 2023. The project features a past-producing pit-constrained mineral inventory comprising 1,834.2 million tonnes of measured and indicated resources grading 0.32% copper equivalent, containing 10.77 billion pounds of copper along with molybdenum and silver. Additionally, there are 238.8 million tonnes of inferred resources grading 0.46% copper equivalent. Indicative metallurgy suggests approximately 89-91% copper recovery and a 25% copper concentrate grade, with molybdenum recovery at approximately 72% and silver recovery at approximately 65%. No reserves have been defined; the company has guided for a preliminary economic assessment in the first half of 2027, a feasibility study in 2028, and a production concept targeting approximately 2032.

The Pine Point Project, located in the Northwest Territories, is held in a joint venture with Appian. The project contains 49.5 million tonnes of indicated resources grading 5.52% zinc equivalent and 8.3 million tonnes of inferred resources grading 5.64% zinc equivalent.

Osisko Metals has a shareholder base that is approximately 80% institutional and strategic. Major stakeholders include Glencore, which holds approximately 14.4% following debenture conversion and retains a 1% Copper Mountain royalty along with an off-take agreement on 100% of concentrates. Other shareholders include Agnico Eagle, Hudbay, Franco-Nevada, and CDPQ. The company has approximately 890.7 million shares outstanding post-conversion, compared to 762.6 million at Q2-2026, with additional warrants and the OCMC spin-out also in play.