Osisko Mining Corporation
TSX : OSK
FRANKFURT : EWX

Osisko Mining Corporation

September 11, 2007 08:00 ET

Osisko Awards Contracts for Feasibility

MONTREAL, QUEBEC--(Marketwire - Sept. 11, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK) (FRANKFURT:EWX) is pleased to announce that it has awarded contracts for the overall feasibility, metallurgical design, engineering, open pit geotechnical investigations and tailings impoundments for the Canadian Malartic Project to BBA Inc. ("BBA") and Golder Associates ("Golder").

Based in Montreal, Quebec, BBA is a specialized mining engineering company with a group of highly qualified metallurgists, and mining, civil/structural, mechanical, electric and automation engineers with experience in the design and operation of high-tonnage, low-grade gold mining and processing projects. With over 350 employees, the mining and metallurgy group is located in Montreal.

Under the supervision of Luc Lessard, recently appointed Vice President of Engineering and Construction for Osisko (see Osisko press release dated September 7, 2007), the Feasibility Project Manager for BBA will be David Runnels, P.Eng., who has over 35 years experience in the process design and engineering management of mineral processing plants, and whose experience encompasses large open pit mines such as Omai, Troilus, Rosebel and El Pachon. Mr. Runnels and the BBA team have a strong prior working relationship with Mr. Lessard and other members of Osisko's recently appointed mine development team.

Golder has been awarded the contract for open pit geotechnical investigation and design of the tailings storage facility for the Canadian Malartic Project. Project Director for Golder will be Michel Julien, Senior Engineer from Golder's Montreal office, under the supervision of Luc Lessard from Osisko. Golder has a long history of involvement in mine waste management projects in Quebec and particularly in the Malartic area, with involvement in the East Malartic mine site dating back to the 1960's. Golder planned and designed the expansion of the East Malartic tailings basin for the Lac Minerals Doyon and Bousquet mines and was involved in the tailings facility up until the property was eventually sold by Barrick Gold Corporation in 2003. Subsequently Golder has been engaged by the Quebec Government in auditing the site.

Sean Roosen, President and CEO of Osisko, stated: "The Company is very pleased that we have been able to attract this highly experienced group of mining professionals to assist in the progression of our Canadian Malartic project towards feasibility. The combination of BBA's strong team and their prior close working relationship with Osisko's new mine development team, along with Golder's experience and in-depth familiarity with Malartic, should add up to a close-knit group that has a proven track-record of working very well in the past in the feasibility, development, commissioning and mining stages of other successful large open pit gold mines. We anticipate these newly awarded contracts will help accelerate our feasibility study and subsequent project development of the Canadian Malartic Project."

Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $80 million on hand and is carrying out an aggressive definition drilling campaign on the property. An updated NI 43-101 complaint, inferred gold resource estimate on the main deposit was released on July 5, 2007 and the full report is available on SEDAR.

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
    Toll Free: 1-866-580-8891