Osisko Development Advances Cariboo Gold Project Toward Construction

Osisko Development Advances Cariboo Gold Project Toward Construction

Delineation drilling and underground development to support planned >200,000-oz annual mine

What is Osisko Development doing at the Cariboo Gold Project?

Osisko Development is advancing its Cariboo Gold Project in central British Columbia through underground development and extensive drilling as it prepares for a final investment decision and potential mine commissioning 24-months after construction start.

Gold development projects often require years of exploration, permitting and financing before construction begins—Osisko Development has secured all three believes its Cariboo Gold Project in central British Columbia is approaching its next phase.

According to Chairman and CEO Sean Roosen, the company’s exploration philosophy centers on drilling.

Osisko companies have collectively drilled more than six million metres across projects in Canada, building extensive technical expertise in gold exploration and development.

At Cariboo, the company controls a large land package extending approximately 83 kilometres along two main trends.

The project already hosts a significant gold mineral resource, including more than 2.07 million ounces of reserves (17.8 Mt @ 3.62 gpt), 1.6 million ounces of M&I resources (17.4 Mt @ 2.88 gpt), and 1.86 million ounces of inferred resources (18.8 Mt @ 3.09 gpt).

Exploration continues to expand the system.

Current drilling has primarily tested depths of roughly 350 metres on average, while new programs are targeting mineralization down to 1-2 kilometres below surface.

If deeper drilling confirms additional mineralization, the project could grow substantially in scale over time. Development work is already underway.

Osisko has begun underground development, completing roughly two kilometres of underground workings as part of its pre-construction activities.

The project is fully permitted for construction of a mine capable of producing up to 220,000 ounces of gold per year.

A final investment decision is expected in the near term, with the company targeting potential commissioning around 2028–2029, following a 24-month build.

For more information on Osisko Development Corp. (NYSE: ODV, TSX.V: ODV) please click the request investor info button.

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