Osisko Mining Corporation
TSX : OSK
FRANKFURT : EWX

Osisko Mining Corporation

September 11, 2007 16:05 ET

Osisko Intersects 158 Metres Averaging 2.29 g/t Au at Canadian Malartic

MONTREAL, QUEBEC--(Marketwire - Sept. 11, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce new results from the 30m x 30m infill drilling program at its 100%-owned Canadian Malartic gold property. Highlights from holes CM07-999 through to CM07-1100 are summarized below and include intersections that were either longer or better grade than expected, as well as new mineralized intersections in areas where barren rock was anticipated. All other results from the infill program, including sterilization holes immediately outside the deposit, are in line with expectations and continue to confirm the integrity of the geological and grade model for the deposit.

Intercepts that produced better-than-anticipated results include 158.1 m averaging 2.29 g/t Au (CM07-999), 47.8 m averaging 3.04 g/t Au (CM07-1055) and 277.0 m averaging 1.22 g/t Au (CM07-1091). Details from nine selected holes are tabled below:



Hole No. Section From(m) To(m) Length(m) Au g/t
CM07-999 3580E 1.7 159.8 158.1 2.29
including 53.5 64.0 10.5 13.31
CM07-1041 3444E 16.5 35.4 18.9 4.94
CM07-1055 3642E 18.2 66.0 47.8 3.04
including 31.0 49.5 18.5 5.53
And 130.5 235.0 104.5 1.20
CM07-1056 3730E 182.0 211.4 29.4 3.58
CM07-1060 3702E 128.1 256.5 128.4 1.29
CM07-1065 3580E 58.5 218.5 160.0 1.95
including 83.5 106.0 22.5 8.06
And 242.0 302.4 60.4 0.70
CM07-1068 3674E 28.5 47.0 18.5 1.60
And 109.5 206.5 97.0 1.73
including 184.0 194.5 10.5 12.46
CM07-1073 3642E 5.5 59.0 53.5 2.26
including 11.5 15.8 4.3 17.10
And 83.5 164.0 80.5 2.45
including 127.0 130.0 3.0 25.46
CM07-1091 3502E 2.5 279.5 277.0 1.22


New drill intercepts from areas that were not known to contain mineralization include 36.2 m averaging 3.14 g/t Au (CM07-1019) and 48.5 m averaging 3.01 g/t Au (CM07-1094). Details from the seven holes that intersected new mineralization are tabled below:



------------------------------------------------------------
Hole No. Section From(m) To(m) Length(m) Au g/t
CM07-1019 3380E 89.0 125.2 36.2 3.14
CM07-1034 3350E 8.5 26.5 18.0 2.57
And 54.5 72.5 18.0 2.81
And 87.5 134.0 46.5 1.08
CM07-1046 3230E 46.0 65.5 19.5 0.90
And 96.7 121.0 24.3 2.24
CM07-1094 4215E 201.0 249.5 48.5 3.01
including 230.0 233.0 3.0 38.80
CM07-1096 4215E 95.5 113.5 18.0 2.72
CM07-1097 4215E 72.5 125.0 52.5 0.79
CM07-1100 4277E 47.0 101.0 54.0 1.27
------------------------------------------------------------


Drill holes CM07-1019 and -1034 are located west of the P zone and data now suggest that this zone plunges to the southwest. Drill hole CM07-1046 is a western extension of the F zone mineralization. Drill hole CM07 -1094 represents a depth extension to known mineralization, whereas drill holes CM07-1096, -1097 and -1100 represent new mineralized extensions in the area of the Gilbert zone.

Following a review of the 30 x 30 metre infill drill program, the Company has elected to increase the current program from 150,000 metres to a total of 185,000 metres. The infill program is designed to collect data for a Measured and Indicated ("M&I") resource estimate on the main portion of the deposit between lines 3140E and 4580E. This represents a distance of 1440 metres, which is 77% of the known 1860 metre length of the deposit. The infill program has been increased in order to better define the higher grade envelope (greater than 1 g/t Au) in the core of the deposit, increase accuracy of the underground stope model and include the extension of the deposit between the Gilbert zone and section 4580E. As a result of the increased infill program, Osisko now plans to release the M&I resource estimate in Q2 2008.

The Canadian Malartic gold deposit is still open to the southeast between lines 4400E and 4760E. Osisko is currently drill testing the southeastern extension to the Gouldie zone, located 700 metres southeast of the deposit. Eleven drill rigs are currently active on the property, and an additional four rigs will be added to the program by mid-October.

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 maximum intervals of 20 metres with no upper cut-off of individual assays.

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 and exploration campaign on the Canadian Malartic deposit and surrounding 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.

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
    Osisko Exploration Ltd.
    Daniel Boase
    Investor Relations
    416-742-5600
    Toll Free: 1-866-580-8891