Location

(Montreal, June 6,
2014) – Osisko Mining Corporation (TSX:OSK; Deutsche Börse:EWX)
(“Osisko”)

anticipates that, subject to court approval, and the satisfaction of closing
conditions, the effective date and closing of the shareholder approved joint
acquisition of 100% of the outstanding shares of Osisko by Agnico Eagle Mines
Limited (“Agnico Eagle”) and Yamana Gold Inc. (“Yamana”)
pursuant to a plan of arrangement (the “Arrangement”) will occur on
June 16, 2014.

The Arrangement

Under the Arrangement, each
outstanding common share of Osisko will be exchanged for C$2.09 in cash,
0.07264 of a common share of Agnico Eagle, 0.26471 of a common share of Yamana,
and one common share (one tenth of a common share on a consolidated basis) of a
newly formed company that will acquire certain assets of Osisko as part of the
Arrangement (“Osisko Gold Royalties Ltd”).

Securityholders are
encouraged to read Osisko’s management information circular dated May 1, 2014
for full details of the Arrangement which was mailed to Osisko Securityholders
and is also available on Osisko’s website at www.osisko.com
or on SEDAR at www.sedar.com.

About Osisko
Osisko Mining Corporation operates
the Canadian Malartic Gold Mine in Malartic, Québec and is pursuing exploration
on a number of properties, notably in Québec, Ontario and Mexico.
Forward-looking statements

Certain statements contained
in this press release may be deemed “forward-looking statements”. All
statements in this release, other than statements of historical fact, that
address events or developments that Osisko expects to occur, are forward
looking statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”,
“believes”, “intends”, “estimates”,
“projects”, “potential”, “scheduled” and similar
expressions, or that events or conditions “will”, “would”,
“may”, “could” or “should” occur including,
without limitation, the satisfaction of all technical, economical, regulatory
and financial conditions in order to complete the Arrangement between Osisko,
Agnico Eagle and Yamana, the realization of all expected benefits of this
Arrangement, and the view on (i) the quality and the potential of Osisko’s
exploration and mining assets, (ii) the consideration offered to Osisko
shareholders, and (iii) the potential of Osisko Gold Royalties Ltd. 
Although Osisko believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results may differ materially from
those in forward looking statements. Factors that could cause the actual
results to differ materially from those in forward-looking statements include,
gold prices, results of exploration and development activities, Osisko’s
limited experience with production and development stage mining operations
uninsured risks, regulatory changes, defects in title, availability of
personnel, materials and equipment, timeliness of government or court
approvals, actual performance of facilities, equipment and processes relative
to specifications and expectations, unanticipated environmental impacts on
operations market prices, continued availability of capital and financing and
general economic, market or business conditions. These factors are discussed in
greater detail in Osisko’s most recent Annual Information Form, which is filed
on SEDAR and also provide additional general assumptions in connection with
these statements. Osisko cautions that the foregoing list of important factors
is not exhaustive. Investors and others who base themselves on the forward
looking statements contained herein should carefully consider the above factors
as well as the uncertainties they represent and the risk they entail. Osisko
believes that the expectations reflected in those forward-looking statements
are reasonable, but no assurance can be given that these expectations will
prove to be correct and such forward-looking statements included in this press
release should not be unduly relied upon. These statements speak only as of the
date of this press release. Osisko undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, other than as required by applicable
law.

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.