Osisko Mining Corporation
TSX : OSK
FRANKFURT : EWX

Osisko Mining Corporation

June 11, 2007 08:00 ET

Osisko Intersects 66.0 m Averaging 4.39 g/t Au at Canadian Malartic

New Mineralization Also Outlined in Southern Extension

MONTREAL, QUEBEC--(Marketwire - June 11, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce new results from the drilling program at its 100%-owned Canadian Malartic gold property. Results from 35 new holes are tabled below. The new drilling was focused on the Western Infill program (30 x 30 metre definition program) and on the Southern Extension of the deposit. All results from the Southern Extension represent new mineralized intercepts, located between lines 4215E to 4700E. Significant new intercepts include 66.0 m averaging 4.39 g/t Au (CM06-986) which incorporates a high grade intercept of 7.5 m averaging 27.2 g/t Au. Additional significant results include 134.9 m averaging 1.66 g/t Au (CM06-988) and 311.5 m averaging 0.69 g/t Au (CM06-955), which is one of the longest continuous mineralized zones intercepted to date.

Detailed results returned from 14 new holes from the 30m x 30m Western Infill drilling are tabled below. All results are in line with expectations and continue to confirm the integrity of the geological model and continuity of mineralization intersected in the previously completed 60m x 60m grid drilling program.



WESTERN INFILL

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Hole No. Section From (m) To (m) Length (m) Au g/t

CM06-952 3642E 128.0 146.0 18.0 1.12
CM06-953 3642E 10.0 50.5 40.5 3.01
CM06-955 3525E 25.5 337.0 311.5 0.69
CM06-954 3674E 84.5 99.5 15.0 1.22
CM06-956 3642E 100.0 120.5 20.5 2.64
CM07-957 3580E 0.4 44.5 44.1 1.03
CM07-958 3525E 2.7 17.5 14.8 1.30
And 222.0 253.5 31.5 0.80
CM07-959 3525E 6.0 62.5 56.5 1.08
And 121.5 162.0 40.5 0.94
CM07-960 3525E 6.5 24.5 18.0 1.25
And 142.5 218.5 76.0 0.63
CM07-962 3580E 121.0 205.5 84.5 1.03
And 284.0 321.5 37.5 0.72
CM07-963 3580E 86.0 367.5 281.5 0.81
CM07-986 3702E 74.0 87.5 13.5 1.48
And 132.0 198.0 66.0 4.39
including 152.5 160.0 7.5 27.2
And 284.0 286.0 2.0 20.0
CM07-987 3702E 6.0 31.5 25.0 1.80
including 26.0 27.5 1.5 12.2
And 53.5 68.0 14.5 2.46
And 115.5 150.5 35.0 1.09
CM07-988 3580E 1.6 136.5 134.9 1.66
including 15.0 22.5 7.5 6.43
And 198.0 292.5 94.5 0.92


Drill hole CM07-955 was a vertical hole collared in the core of the F zone porphyry and represents one of the longest continuous mineralized zone intersected to date on the Canadian Malartic deposit (0.69 g/t Au over 311.5 metres). CM07-986 was a vertical hole collared between historic mine workings on the southern portion of section 3702E, immediately east of the F zone. A high grade silicified and partially brecciated zone in metasediments assayed 27.2 g/t Au over 7.5 metres (true width unknown).

Drill holes CM07-961, -985 and -997 were collared between the F zone and the P zone and did not intersect significant mineralization.

Southern Extension

Results from 21 (mostly vertical) holes in the Southern Extension are tabled below. These intercepts have extended mineralization an additional 110 to 230 meters further south along a strike length of 360 metres (between sections 4400E and 4760E). The intercepts all represent mineralization at grades above the 0.5 g/t Au cut-off outlined in the December 2006 inferred resource calculation. The main mineralized system remains open to the south in this area and appears to plunge to the southeast.



SOUTHERN EXTENSION
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Hole No. Section From (m) To (m) Length (m) Au g/t

CM07-964 4640E 218.5 298.0 79.5 0.59
CM07-965 4580E 149.0 190.5 41.5 0.79
And 273.0 333.5 60.5 0.98
CM07-966 4640E 103.0 126.0 23.0 1.03
And 269.5 337.0 67.5 0.85
CM07-967 4580E 184.5 256.0 71.5 0.52
CM07-969 4640E 37.0 57.5 20.5 0.72
And 250.5 289.0 38.5 1.15
CM07-971 4580E 88.0 162.0 74.0 0.80
CM07-972 4520E 14.5 108.2 93.7 0.76
And 163.5 276.2 112.7 0.58
CM07-973 4580E 56.0 139.7 83.7 0.57
CM07-974 4520E 46.0 109.0 63.0 1.29
CM07-975 4520E 176.0 231.5 55.5 0.82
CM07-976 4460E 45.5 58.4 12.9 3.36
And 132.5 173.0 40.5 0.65
CM07-977 4460E 37.5 60.5 23.0 0.72
CM07-978 4400E 101.5 156.4 54.9 0.93
CM07-979 4400E 73.5 116.5 43.0 1.15
CM07-980 4338E 5.8 37.5 31.7 0.95
CM07-982 4760E 243.5 391.9 148.4 1.12
CM07-983 4700E 172.0 189.0 17.0 1.27
And 243.5 316.0 72.5 0.53
CM07-989 4700E 298.5 376.5 78.0 0.84
CM07-992 4700E 303.0 376.5 73.5 0.88
CM07-993 4277E 16.6 38.9 22.3 0.55
CM07-998 4215E 87.5 122.3 34.8 0.92
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Drill holes CM07-981, -990, -991 and -994 to -996 were collared near the Gilbert zone between sections 4215E and 4338E and did not intersect significant mineralization. This indicates that the main system is closed to the south between these sections.

The Canadian Malartic gold deposit and adjacent areas are being evaluated for a large-scale open pit, bulk-tonnage mining operation. A preliminary NI 43-101 compliant, inferred gold resource estimate on the main deposit was released on December 6, 2006 and the full report has now been filed on SEDAR. Ongoing drilling will lead to an upgraded inferred resource calculation, which is slated to be released at the end of the second quarter of 2007.

All NQ core assays were conducted using standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.40 g/t Au over successive 20 metre intervals with no upper cut-off of individual assays and maximum dilution of 20 metres. Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news release.

Contact Information

  • Osisko Exploration Ltd.
    John Burzynski
    Vice-President Corporate Development
    514-735-7131
    www.osisko.com
    or
    Daniel Boase
    Investor Relations
    416-742-5600 or Toll Free: 1-866-580-8891