Gaspé Copper Resource Expansion Target Area Upcoming

MONTREAL – Osisko Metals Incorporated Chief Executive Officer Robert Wares reported on the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec. “Drill results at Gaspé Copper continue to exceed expectations. These new data expand the deposit further south and at depth with drill holes 30-1092 and 30-872, located respectively 230 metres and 440 metres south of the 2024 Mineral Resource Estimate (MRE) model. Additional holes are planned in this resource expansion target area in the coming months over a surface of 450 metres by 550 metres, which we believe will add significant new tonnage to the MRE update, planned for Q1 2026, said Wares”
Drill hole 30-0872 was an old Noranda hole from the 1990s from which core was recovered and analyzed. The hole is located 440 metres south of the southern limit of 2024 MRE model and returned 92.1 metres averaging 0.24% Cu and 3.05 g/t Ag followed by a higher grade second intercept of 47.2 metres averaging 1.14% Cu and 11.8 g/t Ag (at the level of the C Zone skarn horizon), extending mineralization to a vertical depth of 390 metres. The first intercept starts at a depth of 168 metres and the overlying stratigraphy (Indian Cove hornfels) is unmineralized, but this waste material may be included as necessary strip in the next Whittle pit shell.
Drill hole 30-1085, located on top of Copper Mountain near the central part of the 2024 MRE model, intersected 219.0 metres averaging 0.41% Cu and 2.79 g/t Ag (infill), followed by a second intercept (starting 130 metres deeper) of 754.5 metres averaging 0.24% Cu, 1.63 g/t Ag and 0.019% Mo (both infill and expansion at depth).This hole extends mineralization near the centre of the deposit to a vertical depth of 1110 metres.
Drill hole 30-1092 is located 230 metres south of the southern limit of 2024 MRE model and returned 331.5 metres averaging 0.37% Cu and 3.21 g/t Ag (from surface down to the P4 stratigraphic level below the C Zone). This hole is located approximately 15 metres west of previously-reported hole 30-1067, which had failed to drill through a pillar of the B Zone.
Drill hole 30-1095, located in the south-central part of the 2024 MRE model, intersected 309.5 metres averaging 0.26% Cu and 2.11 g/t Ag (infill). This was followed by 56.1 metres averaging 0.23% Cu and 1.70 g/t Ag and then by another 21.9 metres averaging 0.42% Cu and 2.04 g/t Ag (both expansion), extending mineralization to a vertical depth of 550 metres.
Drill hole 30-1096, located in the central part of the 2024 MRE model, intersected two short (51 and 48 metre-long) mineralized zones, followed by 730.7 metres averaging 0.29% Cu, 1.60 g/t Ag, and 0.032% Mo (0.42% CuEq). The latter includes an expansion lower intercept, below the base of the 2024 MRE model, of 334.7 metres averaging 0.39% Cu, 1.79 g/t Ag, and 0.032% Mo (0.52% CuEq). This hole extends mineralization to a vertical depth of 1062 metres.
Drill hole 30-1098, located near the western margin of the 2024 MRE model, intersected 104.5 metres averaging 0.20% Cu and 2.25 g/t Ag (infill), followed by 115.0 metres averaging 0.29% Cu and 2.18 g/t Ag (infill). This was followed by 124.0 metres averaging 0.20% Cu and 1.57 g/t Ag and then by another 60.0 metres averaging 0.35% Cu and 2.88 g/t Ag (both expansion), extending mineralization to a vertical depth of 813 metres.
Drill hole 30-1099, located near the central part of the 2024 MRE model, adjacent to the Copper Mountain pit, intersected a short (34-metre-long) mineralized zone followed by 614.7 metres averaging 0.23% Cu, 1.59 g/t Ag, and 0.016% Mo (both infill and expansion), followed by a third intersection of 138 metres that averaged 0.13% Cu, 1.01 g/t Ag, and 0.028% Mo (expansion), extending mineralization in the porphyry core of the deposit to a vertical depth of 1000 metres.
Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. At least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier prograde skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-replacement mineralization, that is mostly stratigraphically controlled, dominates in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.
The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization. Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category.
The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.
All holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.