Osisko Development Corp. - ODV STOCK NEWS

Osisko Development Corp. announced the departure of Vice President of Investor Relations, Jean-François Lemonde. CEO Sean Roosen expressed gratitude for Lemonde's contributions and wished him success in future endeavors. Laurence Farmer will temporarily take over the investor relations function. Osisko Development is focused on advancing the Cariboo Gold Project and other properties in Canada, the U.S., and Mexico, aiming to become a mid-tier gold producer. The Cariboo Gold Project stands out due to its significant exploration potential.

Osisko Development announced the closure of a metals stream agreement with Osisko Bermuda Limited for its subsidiary Tintic Consolidated Metals. The deal includes a $20 million upfront payment to aid in Tintic's development. Under the agreement, OBL will receive 2.5% of refined metal production until 27,150 ounces of gold are delivered, reducing to 2.0% thereafter. This strategic move is part of Osisko's goal to advance its projects in North America, particularly the Cariboo Gold Project, positioning the company as a mid-tier gold producer.

Osisko Development released its financial results for Q2 2022, showing significant advancements. The acquisition of Tintic Consolidated Metals on May 27, 2022, has strengthened its position in Utah's mining district. Operations at the Trixie test mine are expanding, aiming for increased productivity. A Preliminary Economic Assessment (PEA) for the Cariboo Gold Project indicates potential annual gold production of 236,000 ounces over 12 years. The company also reported initial mineral resources at the San Antonio Project and closed financings totaling approximately $255.5 million.

Osisko Development Corp. (ODV) addressed unauthorized third-party comments regarding its Tintic project, emphasizing that only authorized company disclosures should be trusted. The company highlights the Tintic Project as a promising exploration opportunity but warns that production at the Trixie test mine may face risks without feasibility studies or established mineral resources. This lack of assurance could negatively impact revenue and operational cash flow. Readers are directed to previous news releases for details on the project.

Osisko Development Corp announced the filing of an independent NI 43-101 Technical Report for the San Antonio Project on SEDAR. The report, prepared by Micon International Inc., supports the results of the recently published Mineral Resource Estimate. Qualified persons for the report include geologists from both Servicios Geológicos IMEx and Micon International. The company aims to advance its Cariboo Gold Project and other properties in North America, positioning itself as a leading mid-tier gold producer.

Osisko Development Corp. has announced compelling results from its underground exploration at the Tintic Project and Trixie Mine in Utah, revealing high-grade gold and silver mineralization. Notably, a sample from site 913 showed an impressive 79.45 oz/t Au and 6.27 oz/t Ag over 5.5 ft. Significant potential exists to expand mineralization, with ongoing drilling efforts aimed at establishing an initial resource estimate by Q4 2022. The project spans over 17,000 acres and includes a strong base for mining activity alongside cautious operational adjustments.

Osisko Development Corp. (ODV) announced a significant agreement with Williams Lake First Nation and its subsidiary Barkerville Gold Mines Ltd. to advance the Cariboo Gold Project. This agreement fosters a collaborative relationship aimed at sustainable development within WLFN’s traditional territory. It emphasizes economic reconciliation and environmental stewardship while granting WLFN meaningful participation opportunities. Although specific terms remain confidential, the agreement aims to ensure the project operates with WLFN's consent and support, which is pivotal for community engagement and long-term success.

Osisko Development Corp. (ODV) announced the grant of 765,500 stock options to company officers with an exercise price of $6.49, vesting over three years. Additionally, it awarded 584,300 restricted share units (RSUs) and 96,200 deferred share units (DSUs) to directors. Laurence Farmer was appointed General Counsel and Corporate Secretary, effective July 1, 2022, succeeding André Le Bel. The company continues to advance its Cariboo Gold Project and aims to become a mid-tier gold producer.