Osisko Metals Files Positive Pine Point PEA

MONTREAL, July 30, 2020 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) announces that further to its news release dated June 15^th “Osisko Metals Files Pine Point PEA”, it has today filed the associated National Instrument 43-101 (“NI 43-101”) technical report for its wholly-owned Pine Point Project (the “Pine Point Project” or the “Project”), located near the town of Hay River in the Northwest Territories, Canada. The report, entitled “Pine Point Lead-Zinc Project Preliminary Economic Assessment” (the “Report”) is dated effective June 11, 2020. The PEA was prepared in collaboration with independent engineering firms BBA Inc., WSP Canada Inc., and Tetra Tech. A summary of key highlights are listed in Table 1.

A copy of the Report can be found at www.sedar.com

Table 1: PEA Highlight Results (all figures in CAN$ unless otherwise noted)

After-Tax Internal Rate of Return ("IRR")	29.6%
After-Tax Net Present Value ("NPV") (Discount Rate 8%)	$500M
After-Tax Payback Period (Years)	2.9
Pre-Production CAPEX (including $71.2M Contingency)	$555M
Average Annual LOM Production Zinc	327Mlb
Average Annual LOM Production Lead	143Mlb
Life of Mine ("LOM")	10 Years
Total Mineral Resources Mined	39.1Mt
Average ZnEq Diluted (12%) Grade of Mineral Resources Mined	6.17%
Gross Revenue After Royalty (LOM)	$4,371M
After-tax Operating Cash Flow (LOM)	$1,064M
C1 Costs over LOM (ZnEq)*	US$0.67/lb
Estimated All-In Costs (Total CAPEX plus OPEX, ZnEq)**	US$0.82/lb
LOM Zinc Price	US$1.15/lb
LOM Lead Price	US$0.95/lb
FX Rate (CAD:USD)	1.31

*C1 cost is mine site cost plus smelting, transport and royalty