Osisko Tables Environmental Impact Study for Its Canadian Malartic Project

Osisko Tables Environmental Impact Study for Its Canadian Malartic Project

Osisko Mining Corporation submitted yesterday its environmental impact assessment study for its Canadian Malartic mining project to Quebec’s Ministere du Developpement durable, de l’Environnement et des Parcs (MDDEP).

“We’re very pleased to reach this major milestone in the regulatory approval process.” said Mr. Sean Roosen, President and CEO of Osisko. “To conduct this study over the past year we’ve had to call on many experts in many fields, and we are extremely proud of the result. From the start of our project, we have been committed to optimizing the positive impacts of our project for the town of Malartic, the Abitibi-Timiskaming region and the Province of Quebec, while striving to minimize impacts on the physical and human environment. We are working diligently as responsible corporate citizens to achieve successful integration between the two.”

The impact study concludes that given the chosen site for mining infrastructure, the selected technology, and the open communication with the various stakeholders, the Canadian Malartic project would have a minimal impact on the environment and the population and well within acceptable industrial norms. Moreover, Osisko has demonstrated with its work to date that it is a major partner in the responsible development of Malartic and its surrounding area. The impact study also underscores significant spin-offs the project would have on the local and regional economy. Highlights of the impact study are appended to this press release.

Osisko remains committed to providing the population of Malartic with thorough and transparent information on the evolution of the Canadian Malartic project. With this goal in mind, the Company will send information to Malartic residents over the coming weeks summarizing the study and explaining the main findings.

Copies of the study will be available for consultation at the Osisko community outreach office, located at 864 rue Royale in Malartic, and at the Malartic Town Hall. The study is also available online, along with the supporting documents, on the Osisko website at: www.osisko.com.

Moving Forward

The study will be reviewed by Quebec government authorities to establish compliance with MDDEP guidelines. During this time and until the study is declared admissible by the MDDEP, Osisko will answer any questions received from the government and provide additional information as requested.

The BAPE public hearing process will start following the MDDEP’s review of the study, leading to a report that will be submitted for approval to members of the Quebec Cabinet.

Cautionary Note: the Canadian Malartic mineral resource is not a mineral reserve, and the economic feasibility of the project has not been demonstrated. The mineral resource estimate for the Canadian Malartic project includes an inferred resource. This estimate is considered too speculative from a geological standpoint to apply economic parameters that would make it possible to consider it a mineral reserve. Moreover, there is no assurance that subsequent work will result in an economically mineable mineral reserve.

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