Osisko Mining Corporation

Osisko Mining Corporation

September 22, 2005 08:00 ET

Osisko Releases Additional Drill Results at Malartic

MONTREAL, QUEBEC--(CCNMatthews - Sept. 22, 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 testing grade and distribution of gold mineralization in the Canadian Malartic deposit to depths of 250 to 300 metres in order to confirm the potential for a large bulk-tonnage gold deposit.

The latest two holes of the Phase Two program were drilled vertically near the eastern end of the property. Results are positive and are tabled below:

Hole No. Section From (m) To (m) Length (m) Au g/t
CM05-673 4277 E 54.7 196.7 142.0 1.39
CM05-674 4215 E 77.1 192.6 115.5 1.27
including 83.1 90.6 7.5 4.19

Drill hole CM05-675, collared on section 4155 E, was abandoned after it intersected underground mine workings at a depth of 120 metres. This section will be re-tested with drill hole CM05-681, collared 12 metres to the north of CM05-675.

The on-going Phase Two drill program is confirming continuity of mineralization over the interpreted 1200 metre strike length of the deposit. The results tabled above were calculated using a weighted average cut-off of 0.4 g/t Au over 20 metres. Grade variation throughout most of the holes is between 0.5 g/t Au and 2.0 g/t Au. All holes intersected sediment-hosted mineralization followed by porphyry-hosted mineralization at depth. True thickness of the mineralized zone in the eastern portion of the property is estimated at 90 metres.

The remaining six holes of the Phase Two program are testing the central portion the deposit over a 360 metre strike length. The Phase Three drill program, which will consist of systematic grid drilling on the western portion of the property, is scheduled to begin in November 2005.

Management is very pleased with drill results obtained to date. 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 early 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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