Mr. Sean Roosen reports

OSISKO GOLD ANNOUNCES PROPOSED US$500 MILLION SENIOR SECURED NOTES OFFERING TO REFINANCE APPIAN PROJECT FINANCING FACILITY AND ADVANCE CARIBOO GOLD PROJECT

Osisko Gold Group Inc. intends to offer and sell $500-million (U.S.) aggregate principal amount of senior secured notes due 2031 to refinance its existing senior secured project loan facility with funds advised by Appian Capital Advisory Ltd. and advance the construction of the Cariboo gold project in British Columbia, Canada, subject to market and other conditions.

The notes will be fully and unconditionally guaranteed by certain of the company's subsidiaries, which, at closing, is expected to consist of Barkerville Gold Mines Ltd., the company's subsidiary relating to the Cariboo gold project, and will be secured by a first priority lien on the company's and each guarantor's property, including equity interests owned by the company and each guarantor in their respective subsidiaries, the interest reserve account and disbursement account, as described herein, and personal and real property, subject to certain exceptions. The aggregate principal amount, interest rate and other terms of the notes will be determined at pricing and are dependent upon market conditions and other factors.

Osisko Gold intends to use the aggregate net proceeds from the offering, after deducting the initial purchasers' discounts and commissions and estimated offering expenses, to:

• Repay all amounts outstanding, and terminate all commitments, under the Appian credit facility with approximately $120.9-million (U.S.) of the net proceeds from this offering;
• Finance a segregated interest reserve account in an amount equal to the first five interest payments on the notes;
• Finance, with the remaining net proceeds, a segregated disbursement account with funds to be used to advance the Cariboo gold project.

About Osisko Gold Group Inc.

Osisko Gold Group is a continental North American gold development company focused on past producing mining camps with district-scale potential. The company's objective is to become an intermediate gold producer through the development of its flagship, fully permitted, 100-per-cent-owned Cariboo gold project, located within the company's broader Cariboo regional land package in central British Columbia, Canada, which hosts numerous prospective exploration targets and provides opportunities for future discoveries. Its Cariboo project pipeline is complemented by the Tintic project, located in the historic East Tintic mining district in Utah, United States, a brownfield property with significant exploration potential, extensive historical mining data and access to established infrastructure. Osisko Gold is focused on developing long-life mining assets in mining-friendly jurisdictions while maintaining a disciplined approach to capital allocation, development risk management and mineral inventory growth.

We seek Safe Harbor.