Osisko Mining Corporation Announces Mailing of Notice of Change to Directors' Circular in Response to Revised Unsolicited Proposal from Goldcorp Inc.

MONTREAL, QUEBEC--(Marketwired - April 22, 2014) - Osisko Mining Corporation (the "Company" or "Osisko") (TSX:OSK)(FRANKFURT:EWX) today announced that it has filed with the Canadian securities regulatory authorities a notice of change to the directors' circular (the "Notice of Change") in response to the Revised Goldcorp Offer (as defined herein). The Notice of Change updates information contained in the directors' circular dated January 24, 2014 (the "Directors' Circular") issued by the board of directors of Osisko (the "Osisko Board") in connection with the unsolicited proposal of Goldcorp Inc. ("Goldcorp") dated January 14, 2014 to acquire all of the common shares of Osisko (the "Osisko Shares"), as varied by the notice of extension dated February 18, 2014, the notice of extension dated March 10, 2014, the notice of extension dated March 21, 2014, the notice of extension dated April 3, 2014 and the notice of extension and variation dated April 10, 2014 (the "Revised Goldcorp Offer"). The Notice of Change will be mailed to Osisko's shareholders and is currently available under Osisko's profile on SEDAR at www.sedar.com.

The Osisko Board has thoroughly reviewed and considered the Revised Goldcorp Offer and the report and recommendation of the special committee comprised of five independent directors (the "Special Committee") and has received advice from its financial and legal advisors. Based upon the report of the Special Committee, advice from each of BMO Capital Markets and Maxit Capital LP, and after consultation with its legal advisors, the Osisko Board unanimously recommends that Osisko's shareholders reject the Revised Goldcorp Offer and not tender their Osisko Shares to the Revised Goldcorp Offer. The Revised Goldcorp Offer is conditional and currently scheduled to expire at 11:59 p.m. (Toronto time) on April 22, 2014.

The agreement (the "Agreement") announced on April 16, 2014 with Agnico Eagle Mines Limited ("Agnico Eagle") (TSX:AEM)(NYSE:AEM) and Yamana Gold Inc. ("Yamana") (TSX:YRI)(NYSE:AUY) provides superior value to Osisko's shareholders. Additional details of the Agreement will be described in a management information circular with respect to the Arrangement (as defined herein). Osisko's shareholders and optionholders will be asked to consider and, if deemed advisable, to pass, with or without variation, a special resolution authorizing and approving the Agreement involving Osisko, Agnico Eagle and Yamana by way of a plan of arrangement (the "Arrangement").