Osisko Mining Corporation
TSX : OSK
FRANKFURT : EWX

Osisko Mining Corporation

March 08, 2007 16:07 ET

Osisko Releases Results of Malartic Community Survey

93% of Polled Residents Believe the Project will have Significant Economic Impact on Town

MONTREAL, QUEBEC--(CCNMatthews - March 8, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to provide an update on the Malartic Community Development Program and announce the results of a recently completed community survey. The survey was designed to poll the residents of Malartic in the current area of influence of the Canadian Malartic gold project, and to gather preliminary data for potential relocation of the residents that would be affected by a positive production decision.

Approximately 96% of households were reached during the survey, and of this group, 93% of participating respondents stated that they believe Osisko's Canadian Malartic Project will have a significant economic effect on the town of Malartic, with over 87% in favour of its completion.

The survey was part of the ongoing Community Development Program, which aims to adopt a strategic plan for community development and relocation of the southern sector of the town. As exploration and project development continue, the community social contract and planning of the town area is being established by the Community Consultation Group, which brings together two city councilors, five residents of the southern sector and two representatives of the Company, led by an independent president.

Polling was conducted in January 2007, and involved a 25 minute visit with each participating household respondent. Participation in the survey included 168 out of the 185 properties representing over 600 residents (4% of households could not be reached, and 3% declined to participate in the survey). In terms of relocation options for the households, of those expressing a preference, 48% stated that their first choice was to sell their home and 52% preferred to relocate their dwelling elsewhere in Malartic.

An important part of the Community Development Program is the urban design component, and an area ("Sector 7") slated to receive a new neighbourhood has been selected with the assistance of the town council and the Community Consultation Group. Sector 7 has been accepted and ratified by both the town council and the affected residents. Osisko is progressing towards commencing development of Sector 7 with urban planning and design work. The affected area also includes 5 institutional buildings, namely a primary school, an adult learning and community building, a 20-unit social housing building, a daycare, and long term care retirement home. Discussions are ongoing with the institutional stakeholders, and all are positive towards the realization of the project, which would lead to relocation and upgrading of the current facilities.

Of the respondents who would prefer to relocate their dwelling, nearly 90% anticipate moving to the new Sector 7 neighbourhood. Of the homeowners wishing to sell, more than 70% indicated their desire to remain in Malartic, along with nearly 90% of tenants polled. This information was well received by the town of Malartic and the Company in their aim to build a welcoming relocation neighbourhood and a thriving base for Company operations.

Mr. Patrick Goodwin, Director of Community Development for Osisko, states: "The Company is very encouraged by these results and with the ongoing community development efforts. Results of the survey indicate strong community support for the project and willingness on the part of the residents to relocate in the event of a new mine. The survey information was very well received by the town of Malartic and Osisko in their aim to obtain a social contract for mine development. It is the sincere hope of the Company that a positive production decision will mean the realization of a new economic life for the town, an improved new neighbourhood for the residents displaced by the project, and economic spin-offs that will benefit the entire region. Osisko wishes to extend its thanks and appreciation to the town council, the Community Consultation Group and the residents of Malartic for their continued support of the project."

Contact Information

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