MONTRÉAL, QUÉBEC and TORONTO, ONTARIO–(Marketwired – Feb. 21, 2018) –

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Osisko Metals Incorporated (“Osisko Metals”) (TSX VENTURE:OM) and Pine Point Mining Limited (“Pine Point”) (TSX VENTURE:ZINC) are pleased to announce that Pine Point has received final approval from the Ontario Superior Court of Justice (Commercial List) for the proposed arrangement pursuant to which, among other things, (i) Osisko Metals will acquire all of the issued and outstanding common shares of Pine Point, and (ii) a newly formed spinco, Generation Mining Limited, has been created to hold all of the assets and liabilities of Pine Point, with the exception of the Pine Point project located in the Northwest Territories (the “Pine Point Project”), all of which is to be completed by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). The Arrangement will result in Osisko Metals acquiring the Pine Point Project in furtherance of Osisko Metals’ stated strategy of consolidating and developing base metal assets at the mining district scale.

About Osisko Metals Incorporated

Osisko Metals is a Canadian exploration and development company creating value in the base metal space with an emphasis on zinc mineral assets. To date, Osisko Metals has consolidated over 63,000 hectares in the historical world-class Bathurst Mining Camp, located in northern New Brunswick, in which it is focused on upgrading and expanding 6 historical deposits. Osisko Metals is also aiming to complete the acquisition of Pine Point Mining, which will give it a 100% interest in the historical Pine Point mining camp located in the Northwest Territories of Canada. Osisko Metals’ strategy in both mining camps is to develop a multi-deposit asset base that could feed a central concentrator. In Québec, Osisko Metals owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. In parallel, Osisko Metals is monitoring several base metal-oriented peers for projects and acquisition opportunities. Osisko Gold Royalties Ltd (TSX:OR)(NYSE:OR) and Osisko Mining Inc. (TSX:OSK) are significant shareholders of Osisko Metals.

For further information about Osisko Metals, visit www.osiskometals.com.

About Pine Point Mining Limited

Pine Point acquired a 100% interest in the Pine Point lead-zinc project in December 2016. Since that time, a positive Preliminary Economic Assessment (PEA) on the project showing a robust mining operation which, over a 13-year mine life, would have an after-tax net present value of C0.5 million and internal rate of return of 34.5%, with a payback of 1.8 years. The study assumed a zinc price of US.10 per pound and a lead price of US.00 per pound, and used an exchange rate C$:US$ of 0.75. The Pine Point Technical Report is based on a mineral resource estimate for the Pine Point Project, which was prepared in accordance with NI 43-101 with an effective date of April 18, 2017.

For further information about Pine Point, visit www.pinepointmining.com.

Cautionary Statement Regarding 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. 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. Forward-looking information in this news release includes, but is not limited to: the timing and ability of Osisko Metals and Pine Point to complete the Arrangement (if at all); the ability of Osisko Metals and Pine Point to satisfy or waive all conditions precedent to completing the Arrangement (if at all); and the anticipated benefits of the Arrangement to Osisko Metals, Pine Point and their respective shareholders.

These forward-looking statements are based on reasonable assumptions and estimates of management of Osisko Metals and Pine Point, as the case may be, at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko Metals or Pine Point, as the case may be, to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: satisfaction or waiver of all applicable conditions to closing of the Arrangement; the synergies expected from the Arrangement not being realized; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in spot and forward prices of zinc, gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and those risks set out in each of Osisko Metals’ and Pine Point’s public documents filed on SEDAR at www.sedar.com. Although the forward-looking statements contained in this news release are based upon what management of Osisko Metals and/or Pine Point, as the case may be, believes, or believed at the time, to be reasonable assumptions, Osisko Metals and/or Pine Point, as the case may be, cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Both Osisko Metals and Pine Point disclaim 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 Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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.