Mr. Don Njegovan reports

OSISKO METALS ANNOUNCES C$15 MILLION "BOUGHT DEAL" FLOW-THROUGH SHARE FINANCING

Osisko Metals Inc. has entered into an agreement with Canaccord Genuity Corp., as sole bookrunner and co-lead underwriter, on behalf of a syndicate of underwriters, which includes BMO Capital Markets as co-lead underwriter, in connection with a bought deal private placement financing of an aggregate of 11,812,000 common shares of the company that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) at a price of $1.27 per flow-through share for gross proceeds of $15,001,240.

The gross proceeds from the issue and sale of the flow-through shares will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures (as both terms are defined in the Income Tax Act (Canada)) related to the corporation's projects on or before Dec. 31, 2027. All qualifying expenditures will be renounced in favour of the subscribers of the flow-through shares with an effective date on or before Dec. 31, 2026.

The flow-through shares will be offered for sale by way of private placement in each of the provinces of Canada (other than Quebec), pursuant to available prospectus exemptions under National Instrument 45-106, Prospectus Exemptions. Closing of the offering is expected to take place on or about Feb. 3, 2026, and is subject to certain conditions, including, but not limited to, the conditional approval of the Toronto Stock Exchange. The flow-through shares to be issued under the offering will be subject to a hold period expiring four months and one day from the closing date pursuant to applicable Canadian securities laws.

In consideration for the underwriters' services, the company has agreed to pay the underwriters a cash commission equal to 5 per cent of the gross proceeds of the offering.

About Osisko Metals Inc.

Osisko Metals is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The company acquired a 100-per-cent interest in its flagship project, the past-producing Gaspe copper mine, from Glencore Canada Corp. in July, 2023. The Gaspe copper project is located near Murdochville in Quebec's Gaspe Peninsula. The company is currently focused on resource expansion of the Gaspe copper system, with current indicated mineral resources of 824 million tonnes (t) grading 0.34 per cent copper equivalent (CuEq) and inferred mineral resources of 670 million t grading 0.38 peer cent CuEq (in compliance with National Instrument 43-101, Standards of Disclosure for Mineral Projects). For more information, see Osisko Metals' Nov. 14, 2024, news release, entitled "Osisko Metals Announces Significant Increase in Mineral Resource at Gaspe Copper." Gaspe Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Quebec.

In addition to the Gaspe copper project, the company is working with Appian Capital Advisory LLP, through the Pine Point Mining Ltd. joint venture, to advance one of Canada's largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of indicated mineral resources of 49.5 million t at 5.52 per cent zinc equivalent (ZnEq) and inferred mineral resources of 8.3 million t at 5.64 per cent ZnEq (in compliance with National Instrument 43-101, Standards of Disclosure for Mineral Projects). For more information, see Osisko Metals' June 25, 2024, news release, entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52 per cent ZnEq." The Pine Point project is located on the south shore of Great Slave Lake in the Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

We seek Safe Harbor.