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Osisko Gold Confirms Presence of Mineralized System with Open Pit Potential at the Proserpine Target on the Cariboo Gold Project's Regional Property; Exploration Drilling Highlights Include 95.93 g/t Au over 4.60 m at 71 m Vertical Depth and 5.46 g/t Au over 8.60 m at 77 m Vertical Depth

Drill Results Exploration Programs

NEWS RELEASE osiskogold.ca

Osisko Gold Confirms Presence of Mineralized System with Open Pit Potential at the Proserpine Target on the Cariboo Gold Project's Regional Property; Exploration Drilling Highlights Include 95.93 g/t Au over 4.60 m at 71 m Vertical Depth and 5.46 g/t Au over 8.60 m at 77 m Vertical Depth

HIGHLIGHTS

  • 6,463 m in 14 drill holes of new surface exploration drilling at the Proserpine regional exploration

target, located 7 km along strike to the southeast of the Cariboo Gold deposit

  • Results confirm the presence of an emerging gold mineralized system comprising high-grade

structures exhibiting similarities to those at the Cariboo Gold deposit that, together with broader zones of lower-grade mineralization, may indicate potential for open pit mining methods

  • Highlight intercepts include: 95.93 g/t Au over 4.60 m at 71 m vertical depth (including 873.00

g/t Au over 0.50 m), 5.46 g/t Au over 8.60 m at 77 m vertical depth, and 2.17 g/t Au over 14.45 m at 431 m vertical depth

  • Drilling of an additional 26,500 m planned metres, initially with three rigs, is now resuming

following a seasonal hiatus

Toronto, Ontario, August 5, 2026 – Osisko Gold Group Inc. (NYSE: OGG, TSXV: OGG) ("Osisko Gold" or the "Company") is pleased to announce its first set of new diamond drilling results consisting of fourteen holes from the surface exploration program on the Proserpine regional greenfield target, located within the broader Cariboo Gold Project property boundary and approximately 7 kilometres ("km") from the Company's permitted, 100%owned Cariboo Gold Project (the "Project") in central British Columbia, Canada.

Chris Lodder, President, stated, “We are encouraged by the initial results from the drill campaign at Proserpine, which highlight the potential for a significant new gold mineralized system of scale located only 7 km from the Cariboo Gold deposit. Drilling has intersected high-grade structures showing similarities to those at Cariboo, but also containing areas with broader lower grade mineralization that may indicate potential for bulk mining methods. To date, drilling has broadly tested an area measuring approximately 1.0 km x 0.5 km within a larger target of 6.0 km x 1.0 km gold-in-soil and rock anomaly. For context, the currently defined Cariboo Gold deposit extends approximately 4.0 km along strike by 0.5 km in width, underscoring the exploration potential that remains to be tested at Proserpine."

DRILL ASSAY HIGHLIGHTS

This news release contains assays from fourteen (14) diamond drillholes ("DD") totalling 6,463 meters ("m") with depths ranging from 36.0 to 734.3 m (see Table 1 and Figure 3) completed between February and May of 2026. All holes were collared in HQ (63.5 millimetre diameter) and reduced to NQ (47.6 millimetre diameter) where necessary to continue advancing. Estimated true widths of intercepts are provided in Table 1. Select highlights include:

  • 95.93 grams per tonne ("g/t") gold ("Au") over 4.60 m at 71 m vertical depth in PSP-26-004,

including:

  • 873.00 g/t Au over 0.50 m, and

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  • 3.77 g/t Au over 1.20 m
  • 5.46 g/t Au over 8.60 m at 77 m vertical depth in PSP-26-001 (Figure 1), including:
  • 16.05 g/t Au over 1.10 m, and
  • 12.50 g/t Au over 0.87 m, and
  • 10.25 g/t Au over 0.50 m, and
  • 5.97 g/t Au over 0.70 m, and
  • 5.21 g/t Au over 0.80 m, and
  • 3.36 g/t Au over 0.60 m, and
  • 1.50 g/t Au over 0.90 m, and
  • 1.18 g/t Au over 0.90 m
  • 2.17 g/t Au over 14.45 m at 431 m vertical depth in PSP-26-001, including:
  • 35.10 g/t Au over 0.65 m, and
  • 8.61 g/t Au over 0.50 m, and
  • 2.21 g/t Au over 0.50 m, and
  • 1.21 g/t Au over 0.50 m
  • 1.46 g/t Au over 12.40 m at 295 m vertical depth in PSP-26-003, including:
  • 15.40 g/t Au over 1.00 m, and
  • 2.02 g/t Au over 0.50 m
  • 3.17 g/t Au over 5.45 m at 334 m vertical depth in PSP-26-009, including:
  • 19.30 g/t Au over 0.60 m, and
  • 9.52 g/t Au over 0.50 m, and
  • 1.22 g/t Au over 0.50 m
  • 1.30 g/t Au over 12.00 m at 27 m vertical depth in PSP-26-011, including:
  • 9.92 g/t Au over 0.70 m, and
  • 6.19 g/t Au over 0.50 m, and
  • 3.63 g/t Au over 0.50 m, and
  • 3.75 g/t Au over 0.50 m, and
  • 1.50 g/t Au over 0.65 m
  • 2.93 g/t Au over 5.15 m at 233 m vertical depth in PSP-26-001, including:
  • 15.60 g/t Au over 0.95 m

4.30 g/t Au over 3.10 m at 226 m vertical depth in PSP-26-001, including:

•

  • 18.75 g/t Au over 0.50 m, and
  • 7.54 g/t Au over 0.50 m
  • 2.79 g/t Au over 4.00 m at 184 m vertical depth in PSP-26-014, including:
  • 11.55 g/t Au over 0.90 m
  • 2.30 g/t Au over 4.50 m at 17 m vertical depth in PSP-26-007, including:

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  • 12.25 g/t Au over 0.50 m, and
  • 5.62 g/t Au over 0.50 m, and
  • 1.73 g/t Au over 0.50 m, and
  • 1.09 g/t Au over 0.50 m

Results to date have expanded the footprint of known mineralization at Proserpine to approximately 1.0 km along strike by 0.5 km in width, with mineralization remaining open in all directions. All drill holes that reached their intended target depths encountered mineralization, providing a compelling basis for systematic follow-up drilling. Mineralization was encountered from near surface to vertical depths exceeding 400 metres. In particular, hole PSP- 26-001 returned several notable mineralized intercepts beginning at a vertical depth of approximately 55 metres and with the deepest at more than 400 metres from surface.

FIGURE 1: 5.46 g/t Au over 8.6 m in PSP-26-001 at approximately 77 m vertical depth.

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Drilling also intersected significant intervals of the prospective siliceous sandstone unit, confirming its presence within the target area and providing additional information to refine the geologic model. Based on preliminary observations to date, the siliceous sandstone is believed to represent a more favourable host for mineralization than the calcareous sandstone (see Figure 3).

Diamond drilling at Proserpine has resumed with three active drill rigs following a brief, planned seasonal hiatus. Additional drill rigs may be mobilized as warranted as the planned drill program continues to expand the mineralized footprint and increase drillhole density at Proserpine Southeast, while initiating first-pass drilling at previously untested targets at Proserpine Northwest.

FIGURE 2: Cariboo Gold regional overview.

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FIGURE 3: Plan view of Proserpine diamond drilling with select intercept highlights.

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FIGURE 4: Proserpine diamond drilling select intercept highlights in long section.

TABLE 1: Select manual composite and individual sample highlights greater than or equal to 1.0 g/t Au.

Drillhole IDFrom (m)To (m)Length (m)Au g/tEst. True Width (m)Approx.
Vertical
Depth (m)
PSP-26-001 71.50 72.15 0.65 1.16 0.42 55 79.70 83.60 3.90 1.18 2.95 62 Including 80.20 81.30 1.10 2.71 and 83.05 83.60 0.55 1.67 97.00 105.60 8.60 5.46 6.51 77 Including 97.50 98.20 0.70 5.97 and 98.20 99.00 0.80 5.21 and 100.73 101.60 0.87 12.50 and 101.60 102.70 1.10 16.05 and 102.70 103.20 0.50 10.25 and 103.20 104.10 0.90 1.50 and 104.10 105.00 0.90 1.18 and 105.00 105.60 0.60 3.36 146.40 147.10 0.70 1.49 0.35 112

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Drillhole IDFrom (m)To (m)Length (m)Au g/tEst. True Width (m)Approx.
Vertical
Depth (m)
165.95 166.70 0.75 1.60 0.58 126 288.95 289.60 0.65 1.23 0.56 219 290.45 290.95 0.50 1.11 0.45 220 297.80 300.90 3.10 4.30 2.46 226 Including 297.80 298.30 0.50 7.54 and 300.40 300.90 0.50 18.75 304.70 309.85 5.15 2.93 3.95 233 Including 304.70 305.65 0.95 15.60 312.70 313.25 0.55 1.21 0.42 237 334.80 335.30 0.50 1.74 0.38 254 343.95 344.45 0.50 3.98 0.32 261 494.70 495.20 0.50 3.04 0.41 376 559.85 562.35 2.50 1.04 2.11 420 Including 561.85 562.35 0.50 4.53 572.00 586.45 14.45 2.17 11.80 431 Including 574.25 574.75 0.50 1.21 and 574.75 575.25 0.50 2.21 and 577.55 578.20 0.65 35.10 and 585.45 585.95 0.50 8.61 591.50 593.00 1.50 1.10 0.96 440
PSP-26-002 15.50 16.00 0.50 1.00 0.38 12 36.60 37.20 0.60 2.57 0.39 26 47.00 47.50 0.50 3.25 0.32 34 52.10 52.60 0.50 1.20 0.35 37 73.50 74.50 1.00 2.54 0.82 52 Including 74.00 74.50 0.50 4.68 89.70 90.20 0.50 2.83 0.35 63 95.10 95.60 0.50 1.04 0.25 67 165.90 166.40 0.50 1.33 0.25 115 179.60 180.10 0.50 1.61 0.46 124 194.20 194.95 0.75 1.83 0.61 134
PSP-26-003 83.60 84.10 0.50 2.98 0.35 66 145.15 145.65 0.50 2.58 0.39 113 169.35 171.25 1.90 4.93 1.34 133 Including 170.20 170.75 0.55 16.15 183.00 184.00 1.00 1.20 0.77 144 Including 183.00 183.50 0.50 2.27 187.50 191.00 3.50 1.12 2.76 148 Including 187.50 189.00 1.50 1.17 and 190.00 190.50 0.50 3.45 294.10 299.60 5.50 1.03 4.13 235 Including 299.10 299.60 0.50 8.10 329.00 334.00 5.00 1.10 3.97 262 Including 331.25 331.75 0.50 7.78 367.00 379.40 12.40 1.46 10.31 295 Including 370.50 371.50 1.00 15.40 and 373.60 374.10 0.50 2.02 395.80 396.30 0.50 1.18 0.38 313 411.10 417.70 6.60 1.09 5.07 326 Including 412.10 412.60 0.50 1.05 and 412.60 413.10 0.50 1.11 and 413.10 413.60 0.50 6.22 and 413.60 414.20 0.60 1.89 and 415.20 415.70 0.50 1.47 and 415.70 416.20 0.50 1.32

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Drillhole IDFrom (m)To (m)Length (m)Au g/tEst. True Width (m)Approx.
Vertical
Depth (m)
419.20 420.30 1.10 1.07 0.60 330 Including 419.70 420.30 0.60 1.80 and 430.10 430.60 0.50 2.30 0.09 338 439.30 442.20 2.90 1.00 2.33 345 Including 439.30 440.00 0.70 1.04 and 440.50 441.15 0.65 2.68 and 474.90 475.40 0.50 2.26 0.32 368 478.50 479.00 0.50 1.53 0.43 370 505.85 506.35 0.50 1.53 0.41 386 533.50 534.00 0.50 6.14 0.29 402
PSP-26-004 110.40 115.00 4.60 95.93 3.25 71 Including 112.30 112.80 0.50 873.00 and 113.80 115.00 1.20 3.77
PSP-26-005 55.05 58.60 3.55 1.08 1.91 42 Including 55.05 55.60 0.55 4.67 and 58.10 58.60 0.50 2.33 76.85 79.05 2.20 3.11 1.07 59 Including 77.35 78.00 0.65 2.77 and 78.00 79.05 1.05 4.58 and 135.35 135.85 0.50 1.05 0.45 101 194.00 194.50 0.50 1.12 0.32 147 227.60 228.20 0.60 1.10 0.10 172 241.50 242.00 0.50 1.24 0.26 182 294.00 294.50 0.50 2.17 0.45 224 312.75 313.75 1.00 1.03 0.89 239 Including 312.75 313.25 0.50 1.04 and 313.25 313.75 0.50 1.02 320.00 321.00 1.00 1.33 0.94 244 402.40 402.90 0.50 1.17 0.43 306 412.20 413.30 1.10 1.43 0.72 314 Including 412.20 412.80 0.60 1.82 414.50 416.45 1.95 1.04 1.05 315 Including 415.75 416.45 0.70 2.34 522.30 523.20 0.90 1.63 0.52 384
PSP-26-006 139.70 140.20 0.50 1.05 0.45 104 161.00 161.50 0.50 1.16 0.29 121 251.60 252.10 0.50 20.20 0.35 194 293.60 294.60 1.00 10.21 0.77 227 Including 293.60 294.10 0.50 20.30 315.50 316.50 1.00 1.82 0.94 243 Including 316.00 316.50 0.50 3.36 and 323.50 324.00 0.50 1.86 0.35 249 468.50 470.00 1.50 4.86 1.27 361 Including 468.50 469.00 0.50 11.50 and 469.50 470.00 0.50 3.06 476.50 477.00 0.50 1.33 0.43 366 499.00 499.50 0.50 1.22 0.43 383 509.90 510.90 1.00 1.15 0.42 392 Including 510.40 510.90 0.50 1.41 513.70 514.50 0.80 2.25 0.34 395
PSP-26-007 25.80 30.30 4.50 2.30 3.95 17 Including 25.80 26.30 0.50 1.73 and 27.30 27.80 0.50 5.62 and 29.30 29.80 0.50 12.25 and 29.80 30.30 0.50 1.09

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Drillhole IDFrom (m)To (m)Length (m)Au g/tEst. True Width (m)Approx.
Vertical
Depth (m)
74.05 74.55 0.50 1.05 0.32 44 80.05 80.55 0.50 1.81 0.43 46 112.50 113.00 0.50 2.23 0.14 62 165.35 167.00 1.65 1.35 0.56 90 Including 166.00 167.00 1.00 2.00 174.90 176.80 1.90 1.19 0.80 95 Including 174.90 175.40 0.50 1.98 and 175.40 175.90 0.50 2.37 216.35 216.85 0.50 2.35 0.40 116 266.00 266.85 0.85 1.17 0.43 143 332.05 338.55 6.50 1.54 3.08 184 Including 334.25 335.00 0.75 1.16 and 335.00 335.50 0.50 2.29 and 336.00 336.75 0.75 9.46
PSP-26-008 57.15 57.65 0.50 1.40 0.25 32 215.50 216.00 0.50 1.11 0.35 122 222.10 223.25 1.15 1.74 0.94 127 Including 222.10 222.75 0.65 2.91 and 226.70 227.20 0.50 3.57
PSP-26-009 172.45 175.45 3.00 1.35 2.16 142 Including 172.45 172.95 0.50 7.38 381.55 383.20 1.65 2.13 0.92 311 Including 381.55 382.20 0.65 1.67 and 382.20 382.70 0.50 4.75 388.95 389.50 0.55 15.20 0.35 317 399.95 400.45 0.50 1.58 0.32 326 407.65 413.10 5.45 3.17 3.67 334 Including 409.40 409.90 0.50 9.52 and 409.90 410.50 0.60 19.30 and 410.50 411.00 0.50 1.22 461.55 464.35 2.80 1.72 1.98 377 Including 462.45 462.95 0.50 9.06
PSP-26-012 No Significant Assays
PSP-26-011 41.50 53.50 12.00 1.30 6.88 27 Including 41.50 42.20 0.70 9.92 and 45.50 46.00 0.50 3.75 and 46.50 47.00 0.50 6.19 and 50.75 51.40 0.65 1.50 and 53.00 53.50 0.50 3.63 101.50 102.85 1.35 2.30 1.07 57 Including 101.50 102.00 0.50 1.65 and 102.00 102.85 0.85 2.69 313.80 315.05 1.25 4.18 1.11 180 Including 313.80 314.45 0.65 1.44 and 314.45 315.05 0.60 7.14 319.00 320.00 1.00 2.35 0.71 183 325.00 328.00 3.00 1.36 2.30 187 Including 325.00 326.00 1.00 1.07 and 327.00 328.00 1.00 2.95 382.25 383.00 0.75 1.50 0.57 222
PSP-26-012 No Significant Assays
11.00 12.50 1.50 1.41 1.15 7 Including 11.00 11.50 0.50 3.49 207.25 208.25 1.00 2.02 0.79 124 Including 207.25 207.75 0.50 3.49

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Drillhole IDFrom (m)To (m)Length (m)Au g/tEst. True Width (m)Approx.
Vertical
Depth (m)
234.00 239.50 5.50 1.13 4.21 141 Including 234.00 234.50 0.50 1.07 238.00 240.50 2.50 1.09 1.77 143 Including 238.50 239.00 0.50 2.28 and 239.00 239.50 0.50 2.74
PSP-26-014 97.30 97.85 0.55 1.30 0.48 75 99.00 103.00 4.00 1.01 3.46 78 Including 100.00 100.65 0.65 1.33 and 101.50 103.00 1.50 1.87 108.80 111.45 2.65 1.34 1.90 85 Including 108.80 109.30 0.50 3.55 and 110.80 111.45 0.65 2.31 115.00 116.00 1.00 1.24 0.50 90 205.00 206.00 1.00 3.39 0.71 162 Including 205.00 205.50 0.50 6.51 230.50 234.50 4.00 2.79 2.95 184 Including 233.10 234.00 0.90 11.55 258.65 261.50 2.85 1.20 1.63 205 Including 260.00 261.50 1.50 2.16 603.00 603.50 0.50 1.74 0.35 415

TABLE 2: Surface DD collar locations, orientations, and max depths.

EastingNorthingCollar
Drillhole ID(UTM Zn 10N)(UTM Zn 10N)Elevation (m)Depth (m)Collar DipAzimuth
PSP-26-00160152558769981719603.70-45125
PSP-26-00260179658766701755502.20-45125
PSP-26-00360158558769041721612.00-45125
PSP-26-00460188158766221750498.00-45125
PSP-26-00560156358768591721657.00-45125
PSP-26-00660128258769681675542.00-45125
PSP-26-00760196858765711737345.00-45125
PSP-26-00860206158765151717277.75-45125
PSP-26-00960143658769961699525.00-45125
PSP-26-0106019315876700173574.50-45125
PSP-26-01160205658765191718620.80-45125
PSP-26-0126016295876769172836.00-45125
PSP-26-01360193258767001735435.00-45125
PSP-26-01460162758767691728734.30-45125

ABOUT THE PROSERPINE PROSPECT

The Proserpine Mountain ("Proserpine") prospect area represents a roughly 4 km long post-mineralization faultbound prospective strike length identified through detailed surface mapping and surface geochemical sampling approximately 7 km along strike to the southeast of the Company’s permitted, 100%-owned Cariboo Gold Project, located in central British Columbia. Mineralization style and controls observed at Proserpine appear to be similar to those observed in the Cariboo Gold deposit area, with high-grade gold intercepts associated with quartz-pyrite to polymetallic (pyrite+/-galena+/-arsenopyrite) quartz veins. Less than half the strike-length of the Proserpine has been drill tested to date, with the current campaign focused on following up on promising preliminary results from the 2019-2020 drilling campaigns at the central southeast limits of the prospect area (Proserpine Southeast). An aggregate total of 10,497 metres of exploration drilling was completed by the Company at the Proserpine regional prospect between 2018 and 2020, not including new drilling contained herein.

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ABOUT THE CARIBOO GOLD PROJECT

The Cariboo Gold Project is a permitted, 100%-owned feasibility-stage project located in the historic Wells- Barkerville mining camp of central British Columbia, Canada. Spanning approximately 186,740 hectares, the Company's land package includes 443 mineral titles and covers an area that extends approximately 77-kilometres from northwest to southeast. In late 2024, the Project was granted the Mines Act and Environmental Management Act (British Columbia) permits, marking the successful completion of the permitting process for key approvals, solidifying the Project's shovel-ready status.

The Cariboo Gold Project hosts probable mineral reserves of 2.071 million ounces of contained Au (17,815 kt grading 3.62 g/t Au); measured mineral resources of 8,000 ounces of contained Au (47 kt grading 5.06 g/t Au); indicated mineral resources of 1.604 million ounces of contained Au (17,332 kt grading 2.88 g/t Au); and inferred mineral resources of 1.864 million ounces of contained Au (18,774 kt grading 3.09 g/t Au). Mineral resources are reported exclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The reader is cautioned that inferred mineral resources have a greater degree of uncertainty than indicated mineral resources and must not be converted to mineral reserves; it is reasonably expected, though not guaranteed, that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.

Technical Reports

Scientific and technical information relating to the Cariboo Gold Project and the 2025 feasibility study on the Cariboo Gold Project is supported by the technical report, titled "NI 43-101 Technical Report, Feasibility Study for the Cariboo Gold Project, District of Wells, British Columbia, Canada" dated June 11, 2025 (with an effective date of April 25, 2025) (the "Cariboo Technical Report").

For readers to fully understand the information in the Cariboo Technical Report, reference should be made to the full text of the Cariboo Technical Report in its entirety, including all assumptions, parameters, qualifications, limitations and methods therein. The Cariboo Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. The Cariboo Technical Report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and is available electronically on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov) under Osisko Gold's issuer profile and on the Company's website at www.osiskogold.ca.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed, verified and approved by Scott Smith, P. Geo., Vice President, Exploration of Osisko Gold, a "qualified person" within the meaning of NI 43- 101. Verification includes core photo and three-dimensional review of logged drillhole data and assays consistent with the Company's standard procedures.

The exploration results disclosed in this news release are based on incomplete data and are preliminary in nature. There are no known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data; however, readers are cautioned that additional drilling and sampling may result in materially different results than those presented herein.

Quality Assurance (QA) – Quality Control (QC)

HQ and NQ diameter drill core is cut (halved) on site at the Cariboo Project subsequent to QAQC checks for logging and sampling errors. Quality control (QC) samples are inserted at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. Samples are bagged,

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labelled, sealed with numbered security tags, and transported to the laboratory under secure chain of custody procedures.

All drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, and 250 grams is pulverized. Analysis for gold is by 50 gram fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed by fire-assay with gravimetric finish (upper limit 10,000 ppm). Select samples containing visible gold and/or cosalite are flagged during logging for an additional 1,000-gram screen metallic fire assay to ensure accurate quantification of any coarse fraction. All samples are also analyzed using a 48 multielemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

ABOUT OSISKO GOLD GROUP INC.

Osisko Gold Group Inc. is a continental North American gold development company focused on past producing mining camps with district-scale potential. The Company's objective is to become an intermediate gold producer through the development of its flagship, fully permitted, 100%-owned Cariboo Gold Project, located in central British Columbia, Canada. Its project pipeline is complemented by the Tintic Project, located in the historic East Tintic mining district in Utah, U.S.A., a brownfield property with significant exploration potential, extensive historical mining data, and access to established infrastructure. Osisko Gold is focused on developing long-life mining assets in mining-friendly jurisdictions while maintaining a disciplined approach to capital allocation, development risk management, and mineral inventory growth.

For further information, visit our website at www.osiskogold.ca or contact:

Sean Roosen Philip Rabenok

Chairman and CEO Vice President, Investor Relations Email: [email protected] Email: [email protected] Tel: +1 (514) 940-0685 Tel: +1 (437) 423-3644

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including the assumptions, qualifications, limitations or statements pertaining to: the utility and significance of the exploration drilling at the Proserpine regional target and the results and interpretation thereof; the presence and continuity of an emerging gold mineralized system at Proserpine exhibiting similarities to the Cariboo Gold deposit; the potential for open pit mining methods at Proserpine based on mineralization characteristics observed to date; the significance and interpretation of drill intercepts and the ability to expand the mineralized footprint at Proserpine; the planned resumption and continuation of the drilling program at Proserpine; the prospectivity of exploration in targets outside of currently defined mineral reserves and/or mineral resources; the assumption that a comparison of the strike length and width of the currently defined Cariboo Gold deposit to the area tested to date at the Proserpine exploration target is meaningful and indicative of exploration potential, which has not been demonstrated; the assumption that further exploration at Proserpine will yield results (if any) comparable to those at the Cariboo Gold deposit; the interpretation and accuracy of spatial geometries, geological structure and local variability modeling and assumptions; the results (if any) of further exploration work and ability of the Company to define mineral resources at Proserpine; the ability of exploration work (including drilling and sampling) to accurately predict

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