Intercepts From Underground Sampling At The Trixie-Tintic Project

MONTREAL - Osisko Development Corp. reported on the new development areas as part of its ongoing exploration program at its Trixie test mine, within the wider Tintic Project, located in the historic East Tintic Mining District in central Utah.

Chris Lodder, President, said, "The new developments at Trixie to the north continue to show mineralization and high-grade gold samples within the T2 and T4 zones toward a mineralizing fault structure, the Trixie Fault. We will continue to explore this area to the north toward the historical 756 ore shoot. This area was previously developed over a 275-metre strike length down to vertical depths of 300 meters and had an average grade of 6-8 g/t gold, while primarily mined for flux. This area remains open in all directions. We are also pleased to announce the near completion of the new decline at Trixie, which is expected to break through. This is a milestone accomplishment for our team that will improve access for deeper and nearby exploration as well as any future potential production at Trixie or nearby target areas."

Chip samples were collected from the T2 structure and T4 stockwork on the 625 ft level and along new development at the Trixie decline. Sampling on the 625 ft-level focussed on development to the north towards the Trixie fault and the 756 vein. Samples collected near the Trixie decline focussed on a new crosscut west towards the T2 structure at the 600 ft-level.

Approximately 95% of the 1,390 m (4,550 ft.) Trixie portal and underground decline ramp has been completed to date, with approximately 250 ft. remaining to breakthrough. The Company anticipates completion of the decline ramp to the main 625 ft-level in Q3 2023. The sampling and drilling results provide support that our target areas to the north of Trixie and to the south down plunge of the T2 structure are mineralized and warrant further follow-up exploration drilling and sampling. These sampling results will provide valuable data to improve our understanding and the confidence level of the mineralized zones defined in the area of the Trixie MRE (as defined herein) and support a future mineral resource estimate (MRE) update.

The Company is currently working on an updated MRE for the Trixie deposit to incorporate the new 2023 drilling results and the remaining 2022 drilling that was not included in the Tintic Technical Report due to assay lab delays. This new MRE is expected to be completed once the 2023 drilling program has concluded and all assay results have been received.