Copper is a versatile and essential metal that has a wide range of applications across various industries. It's role in global economic growth is significant. It's vital for construction, electronics, transportation, renewable energy, and more. Copper demand rises with urbanization, infrastructure development, consumer spending, and industrial expansion. Its price fluctuations often reflect economic health, making it a key economic indicator.

High demand for energy transition metals is driving significant growth in the exploration and market size of copper. The following picture anticipates the Copper Market, 2020-2030(USD Billion) with CAGR around 4.9% from 2022- 2030.

Osisko Metals Inc. (TSXV: OM;OTCQX: OMZNF)is a Canadian exploration and development company with a market capitalization of approximately$60M, creating value in the base metal space with a focus on copper and zinc mineral assets. Osisko Metals is developing two of Canada’s premier past-producing brownfield assets – the Gaspé Copper Mine in Murdochville, Quebec, and the Pine Point Mining Camp, located in the Northwest Territories.

Haywood Securities, an investment banking company, has assessed the corporate Net Asset Value (NAV)of Osisko Metals to be $203 million. This assessment includes a 40% stake in Pine Point, which is valued at an after-tax NAV of $132 million, discounted to the year 2024. Additionally, it incorporates a $62 million valuation for the Gaspé Copper resource, calculated based on billions of pounds in situ, valued at US$0.015 per pound.

Exceptional location for mining development in North America:

•  Highway access from Gaspé Copper to deep-sea ports and airports
•  Neighboring community of Murdochville
•  Green hydroelectric available on site
•  60 MW of green wind power generation surrounding the mine site
• High Neutralization potential by calcareous host rocks –calcite neutralizes acid effluents
•  Paved Road Access to the site; Hydroelectric Substation located on site
• Port Access in Saint-Laurent & Gaspé & Rail Access in southern Gaspésie

Key Highlights of the Osisko Metals Drill program and Projects:

1.Completion of the Gaspé Copper acquisition: Osisko Metals has successfully acquired 100% ownership of the Gaspé Copper Project following a recent agreement with Glencore. This project stands as one of the largest copper development assets in Eastern North America, boasting an Inferred resource of 456 million metric tons at a grade of 0.351% total copper (0.31%sulfide). There is potential for expansion beyond the historical open pit mine.

2.Advancements in the Gaspé Copper Project: Osisko Metals has initiated a drilling program in 2023,spanning up to 10,000 meters, aimed at delivering an updated resource assessment by year-end and a Preliminary Economic Assessment (PEA) in the second quarter of 2024. Management's target is to achieve a resource estimate of at least 460 million metric tons grading at0.33% total copper or higher, with a reduction in oxide material. Ongoing discussions are being held to attract investors for the project. Notably, the resource contains nearly 25 million ounces of recoverable silver, offering an opportunity to realize nearly $500 million of in situ value.

Composite Highlights of Intersected Mineralization of 2022 drilling program:

2022Inferred Mineral Resource Estimate Room for Growth:

3.Pine Point Project Progress: The 2023 drill program for Pine Point, encompassing 29,000 meters, has been successfully concluded. While the drilling did not yield additional high-grade prismatic resources, it is anticipated that a significant portion of the 2022 Inferred Mineral Resource will be upgraded to the Measured and Indicated categories. This effort is a prelude to the feasibility study set to commence later in this quarter.

To conclude, Gaspé Copper was a significant copper producer in Eastern Canada for over forty years and closed more than two decades ago. Today, the need for copper as a critical mineral for the green energy revolution is more significant than ever, and advancements in mining technology make the potential of re-opening the mine a compelling possibility.

Osisko Metals has developed an internal model that suggests there is a strong economic case for re-opening Gaspé Copper. It will test its assumptions by focusing initially on the remnant mineralization in the existing pit. By drilling and re-evaluating the remaining resources, it intends to validate the model and close the transaction with Glencore.

The Company also believes that there is strong exploration potential around high-grade underground mineralization at the site that has never been mined by Gaspé Copper’s former operators. This belief is supported by the discovery of a major bulk tonnage historical resource at depth in the late 1990s.

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