Final Court Approval Obtained for Osisko Metals' Acquisition of Pine Point

MONTRÉAL, QUÉBEC and TORONTO, ONTARIO--(Marketwired - Feb. 21, 2018) -

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Osisko Metals Incorporated ("Osisko Metals") (TSX VENTURE:OM) and Pine Point Mining Limited ("Pine Point") (TSX VENTURE:ZINC) are pleased to announce that Pine Point has received final approval from the Ontario Superior Court of Justice (Commercial List) for the proposed arrangement pursuant to which, among other things, (i) Osisko Metals will acquire all of the issued and outstanding common shares of Pine Point, and (ii) a newly formed spinco, Generation Mining Limited, has been created to hold all of the assets and liabilities of Pine Point, with the exception of the Pine Point project located in the Northwest Territories (the "Pine Point Project"), all of which is to be completed by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement"). The Arrangement will result in Osisko Metals acquiring the Pine Point Project in furtherance of Osisko Metals' stated strategy of consolidating and developing base metal assets at the mining district scale.

About Osisko Metals Incorporated

Osisko Metals is a Canadian exploration and development company creating value in the base metal space with an emphasis on zinc mineral assets. To date, Osisko Metals has consolidated over 63,000 hectares in the historical world-class Bathurst Mining Camp, located in northern New Brunswick, in which it is focused on upgrading and expanding 6 historical deposits. Osisko Metals is also aiming to complete the acquisition of Pine Point Mining, which will give it a 100% interest in the historical Pine Point mining camp located in the Northwest Territories of Canada. Osisko Metals' strategy in both mining camps is to develop a multi-deposit asset base that could feed a central concentrator. In Québec, Osisko Metals owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. In parallel, Osisko Metals is monitoring several base metal-oriented peers for projects and acquisition opportunities. Osisko Gold Royalties Ltd (TSX:OR)(NYSE:OR) and Osisko Mining Inc. (TSX:OSK) are significant shareholders of Osisko Metals.