Year: 2021

“We are pleased by the progress achieved to date at both Cariboo and San Antonio. The ongoing work at Cariboo has advanced our Environmental Assessment and Feasibility Study bringing us closer to our major milestones. At San Antonio, the construction of the heap leach pad has been completed and the stockpile processing will commence this quarter”, commented Sean Roosen, Chair and Chief Executive Officer of Osisko Development.

For the fourth quarter this year, we had our capacity increased in Mexico and a mine plan with better grades, Honduras with stable operation, managerial continuous improvement, and better recovery rates, EPP with gradual improvement on grades and, at last, limited losses at Gold Road.

“We had a very busy third quarter. We finalized the work necessary to recommence operations at the mine, and the restart was announced on August 3rd,” said David Wolfin, President and CEO.

“Pan American generated record quarterly revenue of $460.3 million and operating cash flow of $157.0 million in Q3. Our cash and short term investments increased to $315.4 million,” said Michael Steinmann, President and Chief Executive Officer.

Shareholders who are residents of Canada, the United States, Bermuda and Cayman Islands may elect to participate in the Plan commencing with the dividend to be paid on January 14, 2022 to shareholders on record as of December 31, 2021.

The Company intends to use the net proceeds of the Offering for underground mine development and exploration programs at Tucano, and to maintain its working capital and for general corporate purposes.