Osisko Mining Corporation

Osisko Mining Corporation

March 16, 2009 14:37 ET

Osisko to Be Included in S&P/TSX Indices

MONTREAL, QUEBEC--(Marketwire - March 16, 2009) - Osisko Mining Corp. (TSX:OSK) (FRANKFURT:EWX) is pleased to announce that effective March 23, 2009, the company will be included on the S&P/TSX Composite Index as well as the S&P/TSX Global Gold Index and the S&P/TSX Global Mining Index.

Sean Roosen, President and CEO of Osisko, commented: "We are very proud to be included on the large-cap S&P/TSX Composite Index, the leading indicator of market performance based on Canada's major corporations. Our inclusion underscores the tremendous growth that Osisko has delivered to shareholders over the last few years with our continued successes on the Canadian Malartic project. We are confident that Osisko will continue to grow with each forward step realized in our drive towards production in 2011, and that we will be a strong and steady contributor to the Index."

Osisko Mining Corp. is currently developing the Canadian Malartic gold deposit and adjacent mineralized zones into a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded and is carrying out an aggressive definition drilling and exploration program.

A NI 43-101 compliant, 7.7 million ounce Measured and Indicated global gold resource on the main Canadian Malartic deposit was released on September 8, 2008 and the technical report has been filed on SEDAR. This includes a NI 43-101 compliant, 6.3 million ounce gold Reserve estimate released in the Feasibility Study on the main Canadian Malartic deposit on November 25, 2008, for which the technical report has been filed on SEDAR. These estimates did not include the South Barnat Zone or any other mineralized zone located outside the main deposit that is currently being evaluated by Osisko. The NI 43-101 compliant inferred resource estimate of 2.0 million ounce gold for South Barnat was released on January 26, 2009 and the technical report has now been filed on SEDAR.

Cautionary Notes Concerning Estimates of Mineral Resources

This news release uses the terms measured, indicated and inferred resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. In addition, inferred resources are considered too geologically speculative to have any economic considerations applied to them. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Assessment as defined under NI 43-101. Readers are cautioned not to assume that that further work on the stated resources will lead to mineral reserves that can be mined economically.

Forward Looking Statements

Certain statements contained in this press release may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Corporation expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including, without limitation that all technical, economical and financial conditions will be met in order to put the Canadian Malartic Project into commercial production, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, access to skilled consultants, mining development and mill production personnel, results of exploration and development activities, the Corporation's limited experience with production and development stage mining operations, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations market prices, continued availability of capital and financing and general economic, market or business conditions. These factors are discussed in greater detail in the Corporation's most recent Annual Information Form filed on SEDAR, which also provides additional general assumptions in connection with these statements. The Corporation cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Corporation's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Corporation believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.

Contact Information

  • Osisko Mining Corp.
    John Burzynski
    Vice-President Corporate Development
    Osisko Mining Corp.
    Daniel Boase
    Investor Relations
    Toll Free: 1-866-580-8891