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Business Wire
3 hours ago
- Business
- Business Wire
Spanish Mountain Gold Announces Completion of Shares For Debt
VANCOUVER, British Columbia--(BUSINESS WIRE)--Spanish Mountain Gold Ltd. (the "Company" or "Spanish Mountain Gold") (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to announce that, further to the Company's news release on July 4, 2025, the Company has completed a shares for debt transaction with Whittle Consulting Ltd., an arm's length creditor of the Company ('Whittle') to settle an aggregate of $379,720 in outstanding debt (the 'Debt'). In settlement of the Debt, the Company has (i) paid Whittle $14,320, in cash, and (ii) issued 2,110,919 common shares in the capital of the Company (the 'Shares') as directed by Whittle at a price of $0.1731 per Share (the 'Debt Settlement'). The Debt Settlement extinguishes the Debt owed to Whittle for past services to the Company. Closing of the Debt Settlement was subject to a number of customary closing conditions, including, but not limited to, approval from the TSX Venture Exchange. The Shares are subject to a statutory four month plus a day hold period in accordance with applicable securities legislation. About Spanish Mountain Gold Ltd. Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. The Company will publish, within 45 days of the July 3, 2025 Preliminary Economic Assessment (PEA) news release, a new NI 43-101 Technical Report setting out the new executable vision to advance the Project. This new NI 43-101 Technical Report, with a de-risked and optimized PEA with an updated Mineral Resource Estimate (MRE), will supersede the prior technical report of the Company. Upon receipt of the new PEA and updated MRE, the Company will decide the next steps to advance the Project to position the Company to make a construction decision in or before 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details of the Company are available on and on the Company's website: On Behalf of the Board, 'Peter Mah' President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD-LOOKING INFORMATION: Certain of the statements and information in this press release constitute "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release and include but are not limited to information with respect to, the potential to extend mineralization within the near-surface environment; the potential to expand resources and to find higher-grade mineralization at depth; the timing, size and budget of a winter drill program, and the results thereof; and the delivery of a maiden resource for the Phoenix Target, and the timing and results thereof. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
Business Upturn
5 hours ago
- Business
- Business Upturn
Brixton Metals Drills 1.5m of 9.5 g/t Gold, 13.8% Copper, 771.5 g/t Silver, 7.6% Lead, 609 g/t Tellurium, 7.1% Zinc, and >1% Antimony
VANCOUVER, British Columbia, July 22, 2025 (GLOBE NEWSWIRE) — Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the 'Company' or 'Brixton') is pleased to announce its first batch of drill results of the 2025 season from its wholly owned Thorn Project located in NW British Columbia, Canada. The Thorn Project is an underexplored copper-gold porphyry district with several large-scale exploration target areas identified. Brixton is operating with one diamond drill and is gearing up to add a second drill before the end of July. Highlights Shallow drilling was targeting northeast trending gold bearing feeder structures related to the Camp Creek Cu-Au-Ag-Mo porphyry system: Hole THN25-318 cut 1.5m of 9.5 g/t gold, 13.8% copper, 771.5 g/t silver, 7.6% lead, 609.50 g/t tellurium, 7.1% zinc from 165.5m depth Including 0.75m of 10.25 g/t gold, 13.50% copper, 825 g/t silver, >1% antimony, 419 g/t tellurium, 15.15% lead, 14.00% zinc Including 0.75m of 8.80 g/t gold, 14.15 % copper, 718 g/t silver, 1.38% antimony, 800 g/t tellurium Directly above and excluding the high-grade zone is a 19.5m interval that returned 0.43 g/t gold, 37.97 g/t silver, 0.55% copper from 146m depth (146-165.5m) Figure 1. HQ sized cut core photograph of hole THN25-318 at 165.5m depth of massive galena- sulphosalts-sphalerite-stibnite-pyrite-chalcopyrite. Chairman, CEO, Gary R. Thompson stated, ' We are excited to have captured a gold rich polymetallic interval in hole 318. Our strategy this year at the Camp Creek Target was to drill for near surface gold mineralization along these northeast trending feeder structures, which has seen limited drilling since the deep porphyry discovery in Camp Creek. We believe that these feeder structures are related to the Camp Creek porphyry. While the drill has been moved to the Trapper Gold Target, more shallow drilling at the Camp Creek Target area is warranted .' Figure 2. Plan Map of Drill Collars and Cross-section for THN25-315-319, Northside Target Area. Table 1. Select Intervals in Holes THN25-317-318-319. Hole ID From To Interval Gold Silver Copper Lead Zinc Antimony Tellurium (m) (m) (m) g/t g/t % % % % g/t THN25-317 69.50 71.00 1.50 1.38 0.94 – – – – – THN25-318 146.00 165.50 19.50 0.43 30.28 0.43 – – – – THN25-318 165.50 167.00 1.50 9.53 771.50 13.83 7.64 7.15 * 609.50 including 165.50 166.25 0.75 10.25 825.00 13.50 15.15 14.00 * 419.00 including 166.25 167.00 0.75 8.80 718.00 14.15 0.12 0.29 1.38 800.00 THN25-319 78.50 90.50 12.00 0.34 8.08 – – – – – THN25-319 96.50 99.50 3.00 1.04 10.42 – 0.24 – – – THN25-319 174.50 191.00 16.50 0.43 27.73 0.24 – – – Note: * Assays triggered overlimit of greater than 10,000 ppm (1%), waiting on final results. HQ size core samples were cut in half and sampled predominantly at 1.5m intervals with the exception of the high-grade that was sampled at 0.75m intervals for all reported holes in this release. Assay values are weighted averages. Reported intervals are drilling length and the true width of the mineralized intervals has not yet been determined. Table 2. Select Assay intervals in Holes THN25-315-316. Hole ID From To Interval Gold Silver Copper Lead (m) (m) (m) g/t g/t % % THN25-315 92.50 120.00 24.50 0.38 4.44 – – THN25-315 102.00 103.50 1.50 1.64 9.84 0.19 – THN25-316 97.50 106.50 9.00 1.13 16.33 – – including 99.00 100.50 1.50 2.27 7.15 – – including 102.00 103.50 1.50 1.78 57.60 0.20 0.10 Discussion Holes THN25-315 and THN25-316 were drilled at an azimuth of 325 degrees and dip of -50 and -77 degrees, respectively, and the collar was located 123m to the southeast from hole THN24-307 (Figure 2). Hole THN24-307 intercepted a gold dominant zone of high-sulphidation mineralization (see news release, December 9, 2024). Holes THN25-317, THN25-318 and THN25-319 were drilled at an azimuth of 295 degrees on the same pad with dips: -45, -65, -75, respectively, and the collar was located 202m northeast from hole THN25-315. Quartz-sericite-pyrite alteration was pervasive in all of these reported holes within the diorite porphyry Z unit. Disseminated pyrite of 1-3% was identified in the groundmass and locally increases up to 6% with common veinlets of pyrite-sulphosalts up to 20cm and in the case of hole THN25-318 massive sulphide up to 1.5m wide. Localized zones of chlorite and potassic alteration was observed. This newly identified northeast structural trend, the 'Northside vein', which is parallel to the Talisker zone (Figure 2), appears to have a minimum strike of 780m based on six collars-drill sites. Further drilling is required to define the limits of this new trend and to expand on the exceptional high-grade mineralization identified in hole THN25-318. Figure 3. HQ Core Photograph of THN25-318 from 159.15 to 167.00m. Figure 4. HQ Sized Core Photograph of Pyrite-Sulphosalt Veins in THN25-319 at 175.8m depth. Figure 5. HQ Core Photograph of THN25-319 from 170.45-180.15m of Pyrite-Sulphosalt Veins. Table 3. Collar Information for Holes THN25-315-319. Hole ID Easting (m) Northing (m) Elevation (m) Azimuth Dip Depth (m) THN25-315 627791 6492140 751 325.00 -49.25 163.00 THN25-316 627791 6492140 751 325.00 -76.37 297.00 THN25-317 628054 6492307 820 295.00 -44.80 151.00 THN25-318 628054 6492307 820 295.00 -64.49 215.00 THN25-319 628054 6492307 820 295.00 -73.94 221.00 Quality Assurance & Quality Control Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.5m intervals. High-grade intervals were taken at 0.75m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Whitehorse, Yukon or Langley, British Columbia depending on available lab capacity. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. Over limits for gold were analyzed using fire assay and gravimetric finish. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company's website. Qualified Person (QP) Ms. Madeline Berry, is a Project Geologist for the Company who is a Qualified Person as defined by National Instrument 43-101. Ms. Berry has verified the referenced data and analytical results disclosed in this press release and has approved the technical information presented herein. About Brixton Metals Corporation Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton's flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC which is optioned to Eldorado Gold Corporation. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at . Follow us on: LinkedIn | Twitter/X | Facebook | Instagram On Behalf of the Board of Directors Mr. Gary R. Thompson, Chairman and CEO [email protected] For Investor Relations inquiries please contact: Mr. Michael Rapsch, Vice President Investor Relations. email: [email protected] or call Tel: 604-630-9707 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as 'anticipate', 'believe', 'plan', 'estimate', 'expect', and 'intend', statements that an action or event 'may', 'might', 'could', 'should', or 'will' be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. Links: Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Toronto Star
5 hours ago
- Business
- Toronto Star
Midland Announces Non-Brokered Charity Flow-Through Financing with Strategic Investment from Centerra Gold
MONTREAL, July 22, 2025 (GLOBE NEWSWIRE) — Midland Exploration Inc. ('Midland' or the 'Corporation') (TSX-V: MD) is pleased to announce that the Corporation has arranged a non-brokered private placement (the 'Charity FT Offering') for aggregate gross proceeds of $5,058,750 from the sale of 10,650,000 shares of the Corporation (each a 'FT Share') at a price of $0.475 per FT Share. Each FT Share will qualify as a 'flow-through share' within the meaning of subsection 66(15) of the Income Tax Act (Canada) ('Tax Act'). Concurrently with the Charity FT Offering, the Corporation intends to complete a non-brokered private placement with institutional investors for additional gross proceeds of approximately $1,050,000 (the 'Concurrent Offering', and together with the Charity FT Offering, the 'Offering') from the sale of 3,181,818 common shares of the Corporation (each a 'Share') at a price of $0.33 per Share.
Yahoo
6 hours ago
- Business
- Yahoo
Midland Announces Non-Brokered Charity Flow-Through Financing with Strategic Investment from Centerra Gold
MONTREAL, July 22, 2025 (GLOBE NEWSWIRE) -- Midland Exploration Inc. ('Midland' or the 'Corporation') (TSX-V: MD) is pleased to announce that the Corporation has arranged a non-brokered private placement (the 'Charity FT Offering') for aggregate gross proceeds of $5,058,750 from the sale of 10,650,000 shares of the Corporation (each a 'FT Share') at a price of $0.475 per FT Share. Each FT Share will qualify as a 'flow-through share' within the meaning of subsection 66(15) of the Income Tax Act (Canada) ('Tax Act'). Concurrently with the Charity FT Offering, the Corporation intends to complete a non-brokered private placement with institutional investors for additional gross proceeds of approximately $1,050,000 (the 'Concurrent Offering', and together with the Charity FT Offering, the 'Offering') from the sale of 3,181,818 common shares of the Corporation (each a 'Share') at a price of $0.33 per Share. Centerra Gold Inc. ('Centerra') (TSX: CG) (NYSE: CGAU) is expected to participate in the Offering as a strategic investor and, upon closing, will hold 9.9% of the Corporation's issued and outstanding common shares. Midland's President and Chief Executive Officer, Gino Roger, commented: 'This placement will provide Midland with sufficient funds to ensure the progress and development of our wholly owned gold exploration projects in Abitibi, James Bay, and northern Quebec. We are thrilled to welcome Centerra as one of our newest shareholders.' The gross proceeds from the issuance and sale of the FT Shares will be used for 'Canadian exploration expenses' that qualify as 'flow-through mining expenditures', as both terms are defined in the Tax Act (the 'Qualifying Expenditures'). The Qualifying Expenditures will be incurred on or before December 31, 2026, and will be renounced to the subscribers with an effective date no later than December 31, 2025, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares. Refundable tax credits of 22.5% are expected to be recovered on Qualifying Expenditures incurred by the Corporation on its gold projects. The Offering is expected to close on or about July 25, 2025, subject to certain conditions including approval by the TSX Venture Exchange ('TSXV') and execution of an Investor Rights Agreement with Centerra ('IRA'). Under the IRA and subject to conditions, Centerra will be granted certain rights, including the right to participate in future share issuances in order to maintain its interest in the Corporation. All securities issued in connection with the Offering will be subject to a hold period of four months plus one day from the closing date, in accordance with Canadian securities legislation. About Centerra Centerra Gold Inc. is a Canadian-based mining company focused on operating, developing, exploring and acquiring gold and copper deposits in North America, Türkiye, and other markets worldwide. Centerra owns and operates the Mount Milligan mine in British Columbia, Canada, and the Öksüt mine in Türkiye. It also owns several exploration and development assets and manages a molybdenum business unit with assets in Canada and the United States. About Midland Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold and critical metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Rio Tinto Exploration Canada Inc., Agnico Eagle Mines Limited, Wallbridge Mining Company Ltd, Probe Gold Inc., Electric Elements Mining Corp., SOQUEM Inc., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Corporation portfolio and generate shareholder value. For further information, please consult Midland's website or contact: Gino Roger, President and Chief Executive Officer Tel.: 450 420-5977Fax: 450 420-5978Email: info@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (together, 'forward-looking statements') within the meaning of applicable securities laws. Forward-looking statements include statements relating to the Corporation's expectations regarding the amount and projected use of proceeds raised under the Offering, the closing of the Offering and the timing of such closing, the conclusion of additional agreements in regard to newly acquired properties, and other estimates and statements that describe Midland's future plans, objectives or goals, including words to the effect that Midland or management expects a stated condition or result to occur. All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, without limitation, changes in general economic conditions and conditions in the financial markets, changes in demand and prices for minerals, failure to obtain the requisite permits and approvals from government bodies and third parties, regulatory and governmental policy changes (laws and policies) and those risks set out in Midland's public documents, including in each management discussion and analysis, filed on SEDAR+ at Although Midland believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Midland disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
8 hours ago
- Business
- Hamilton Spectator
Osisko Metals Gaspé Copper Project Intersects 645 Metres Averaging 0.28% Cu
MONTREAL, July 22, 2025 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the 'Company' or 'Osisko Metals') ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec. Osisko Metals Chief Executive Officer Robert Wares commented: ' These new results underscore the overall large-scale potential of mineralization at Gaspé Copper, with drill hole 1082 cutting 853 metres of continuous mineralization, including the bottom 424 metres being located immediately below and outside the 2024 MRE model. Furthermore, drill hole 1088 intersected new mineralization 80 metres southwest of the 2024 MRE model, emphasizing the excellent potential for increasing the size of the known deposit at depth and to the south. ' Significant new analytical results are presented below (see Table 1) and include 35 mineralized intercepts from ten drill holes. Infill intercepts are all located inside the 2024 Mineral Resource Estimate model ('MRE', see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are all located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as 'Both**'). Maps showing hole locations are available at . Highlights: Table 1: Infill and Expansion Drilling Results * Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control. ** 'Both' indicates these drill holes have contiguous shallower infill as well as deeper expansion intercepts. Discussion Drill hole 30-0974 was an extension of a shallow (300 m) hole drilled in 2019, located near the southwestern margin of the 2024 MRE model. It returned 295.5 metres averaging 0.29% Cu and 1.88 g/t Ag (infill) followed by a second intercept of 351.2 metres averaging 0.20% Cu and 1.72 g/t Ag (expansion) and a third deeper intercept of 48.0 metres averaging 0.32% Cu and 2.00 g/t Ag (expansion), extending mineralization to a vertical depth of 780 metres. Drill hole 30-1082, located on top of Copper Mountain near the central part of the 2024 MRE model, intersected 48.0 metres averaging 0.19% Cu and 1.46 g/t Ag (infill), followed by a second intercept of 147.5 metres averaging 0.19% Cu and 1.86 g/t Ag (infill), followed by a third deeper intercept of 853.5 metres averaging 0.20% Cu, 1.43 g/t Ag and 0.023% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 424.0 metres averaging 0.21% Cu, 1.33 g/t Ag and 0.026% Mo. This hole extends mineralization near the centre of the deposit to a vertical depth of 1140 metres. Drill hole 30-1083, located in the south-central part of the 2024 MRE model, intersected two short 36 metre-long mineralized zones followed by 153.0 metres averaging 0.18% Cu and 1.56 g/t Ag (infill), followed by a deeper intercept of 427.5 metres averaging 0.26% Cu, 1.54 g/t Ag and 0.021% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 328.0 metres averaging 0.24% Cu, 1.43 g/t Ag and 0.020% Mo. This was followed by a final intercept of 55.5 metres averaging 0.16% Cu and 1.34 g/t Ag. This hole extends mineralization to a vertical depth of 900 metres. Drill hole 30-1087, located in the south-central part of the 2024 MRE model, intersected a short 40 metre-long mineralized zone followed by 334.5 metres averaging 0.23% Cu, 1.93 g/t Ag and 0.011% Mo (infill). This was followed by 74.5 metres averaging 0.62% Cu and 3.19 g/t Ag and then by another 48.3 metres averaging 0.36% Cu and 2.83 g/t Ag (both expansion), extending mineralization to a vertical depth of 598 metres. Drill hole 30-1088, located 80 metres outside the southwestern limit of the 2024 MRE model, intersected 42.0 metres averaging 0.32% Cu and 2.20 g/t Ag followed by 122.7 metres averaging 0.24% Cu and 2.63 g/t Ag. A third intersection at depth comprised 79.5 metres averaging 0.31% Cu and 2.19 g/t Ag (all expansion). Previously undocumented mineralization in this sector reached a vertical depth of 524 metres. Drill hole 30-1089, located in the south-central part of the 2024 MRE model, intersected 91.5 metres averaging 0.21% Cu and 1.54 g/t Ag (infill), followed by two short 26 to 27 metre-long mineralized zones, followed by 645.0 metres averaging 0.28% Cu, 1.46 g/t Ag and 0.023% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 396.7 metres averaging 0.30% Cu, 1.34 g/t Ag and 0.023% Mo. This hole extends mineralization to a vertical depth of 965 metres. Drill hole 30-1091, located in the southeastern part of the 2024 MRE model, intersected two short 23 to 26 metre-long mineralized zones, followed by 210.0 metres averaging 0.21% Cu and 2.10 g/t Ag (infill). This was followed by 38.0 metres averaging 0.22% Cu and 1.50 g/t Ag and then by another 42.6 metres averaging 1.14% Cu and 5.86 g/t Ag (both expansion), extending mineralization to a vertical depth of 583 metres where the hole was stopped in an open stope of historical E Zone mining operations. Drill hole 30-1093, located near the southeastern margin of the 2024 MRE model, intersected 112.0 metres averaging 0.25% Cu and 2.73 g/t Ag (infill), followed by four short 23 to 67 metre-long mineralized zones (all expansion), which extended mineralization to a vertical depth of 834 metres. Drill hole 30-1094, located near the southern limit of the 2024 MRE model, intersected 227.5 metres averaging 0.26% Cu and 2.11 g/t Ag (infill), followed by 57.0 metres averaging 0.13% Cu and 1.33 g/t Ag (infill), followed by two short 26 to 50 metre-long mineralized zones (both expansion), which extended mineralization to a vertical depth of 561 metres. Mineralization occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. At least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier prograde skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedded replacement mineralization, which is mostly stratigraphically controlled, dominates in the area of Needle Mountain, Needle East and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain. The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ). The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026. All holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) and the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization. Table 2: Drill hole locations Explanatory note regarding copper-equivalent grades Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively. Qualified Person The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent 'qualified person' as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ('NI 43-101'). Quality Assurance / Quality Control 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 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals. Osisko Metals 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. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. 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. About Osisko Metals Osisko Metals Incorporated 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% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ' s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled 'Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper'. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec. In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited 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 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). 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% ZnEq'. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads. For further information on this news release, visit or contact: Don Njegovan, President Email: info@ Phone: (416) 500-4129 Cautionary Statement on Forward-Looking Information This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as 'expects', or 'does not expect', 'is expected', 'interpreted', 'management's view', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'potential', 'feasibility', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company's trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ ( under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Photos accompanying this announcement are available at:
