Osisko Mining Corporation

Osisko Mining Corporation

October 21, 2005 08:00 ET

Osisko Exploration: New Malartic Drill Results Confirming Deposit Continuity

MONTREAL, QUEBEC--(CCNMatthews - Oct. 21, 2005) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(DEUTSCHE BOERSE:EWX) is pleased to announce the latest drilling results from the Phase Two drill program on its 100%-owned Canadian Malartic gold property, located in the Abitibi region of Quebec. The current program is confirming grade and distribution of gold mineralization along the 1200 metre strike length of the Canadian Malartic deposit, to depths of 250 to 300 metres.

The latest three holes of the Phase Two program were drilled vertically in the central portion of the property. Results are positive and are tabled below:

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

CM05-676 3790 E 0.80 2.60 1.8 11.1
105.1 111.1 6.00 3.77
143.6 273.6 130.0 1.47

CM05-678 4215 E 275.6 319.6 44.0 1.25

CM05-681 4155 E 60.1 182.1 122.0 1.40

Drill holes CM05-677 and CM05-679 intersected underground mine workings and failed to reach their targets. Results from the remaining two holes of the Phase Two program (CM05-680 and CM05-682) are pending. Management is very pleased with all drill results obtained to date as they are confirming expected size and continuity of the mineralized system. A second drill has been mobilized on site and the Phase Three drill program, which will consist of systematic grid drilling on the western portion of the deposit, is scheduled to begin in November 2005.

The Canadian Malartic property hosts potential for a significant gold resource (see the Company's September 8, 2005 press release) that is located near existing infrastructure. Osisko will continue drilling on the property with the objective of calculating and releasing a NI 43-101 compliant, inferred gold resource by spring 2006, which will ultimately be evaluated as an open pit, bulk tonnage mining operation.

All reported assays were done by standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Mr. Robert Wares, P. Geo. and President of Osisko, is the Qualified Person responsible for the preparation of this news release.

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