Announcement • 9h
Osisko Metals Incorporated Reports Results from 2026 Drill Program At Gaspé Copper Project Osisko Metals Incorporated announced new results from the 2026 drill program at the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec. New analytical results from the 2026 drill program are presented below, including 35 mineralized intercepts from 15 new drill holes. Reported “infill” intercepts are located within the 2026 MRE model and will be focused on upgrading Inferred Mineral Resources to Measured or Indicated categories, as applicable. “Expansion” intercepts are located outside the 2026 MRE model and comprise either A) in-pit expansion, which offers potential to convert in-pit waste into additional resources within the 2026 MRE Whittle pit, or B) out-of-pit expansion, consisting of mineralization located out of the 2026 MRE Whittle pit, which may potentially lead to the definition of new resources. Some of the reported intercepts may have contiguous shallower infill as well as deeper expansion (noted as “Both”). Osisko Metals Incorporated provided the following drilling results: 312.5 metres averaging 0.56% Cu (Infill) in DDH 30-1223; 117.9 metres averaging 0.49% Cu (In-pit expansion) in DDH 30-1218; 57.0 metres averaging 0.63% Cu (Out-of-pit expansion) in DDH 30-1213; 79.0 metres averaging 0.43% Cu (Out-of-pit expansion) in DDH 30-1215; 82.3 metres averaging 0.31% Cu (Infill) and 86.0 metres averaging 0.27% Cu (Infill) in DDH 30-1220; 78.0 metres averaging 0.28% Cu (Out-of-pit expansion) in DDH 30-1209. Table 1 provides infill and expansion drilling results, including details such as DDH number, from and to meters, length, Cu %, Ag g/t, Mo %, CuEq %, and type. Copper Equivalent (CuEq) grades are presented for illustrative purposes only to express the combined value of copper, molybdenum, and silver as a single copper grade. CuEq grades are calculated using long-term metal prices of USD 4.50/lb copper, USD 20.00/lb molybdenum, and USD 45.00/oz silver, and incorporate assumptions for metallurgical recoveries, payable metal factors, smelting and refining charges, transportation costs, and royalties. The simplified formula is expressed as CuEq (%) = Cu (%) + 3.40327 × Mo (%) + 0.00008 × Ag (g/t). Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres or less are generally not reported unless considered material. True widths are estimated at 80 – 90 % of the reported core length intervals. Osisko Metals Incorporated adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag. The current drill program is designed to convert the bulk of the remaining 2026 MRE Inferred resources to Measured and Indicated categories, as well as test the expansion of the overall resource laterally to the south and southwest towards Needle East and Needle Mountain respectively. Live News • Aug 20
Osisko Metals Reports 312 Metre Copper Intercept at Gaspé Expansion Drilling Osisko Metals reported new drill results from the 2026 program at its Gaspé Copper Project in Eastern Québec, including a 312 metre intercept averaging 0.56% copper, from a series of infill and expansion holes.
The company said the program is targeting an upgrade of Inferred Mineral Resources to Measured or Indicated and is expanding the known deposit to the south while converting material previously classified as waste within the pit volume into mineralized material.
Osisko Metals shares last traded at CA$1.73, with the stock up 119.0% year to date.
The key read-through is that these intercepts, if reflected in future resource estimates, could affect the quality and mineability of the Gaspé resource. However, investors still need to watch how later drilling, metallurgy and project studies translate these drilling outcomes into economics. New Risk • Aug 12
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 47% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (47% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (CA$19m net loss in 3 years). Significant insider selling over the past 3 months (CA$2.9m sold). 
