Osisko Metals Incorporated · TSX:OM
Osisko Metals — Investor Presentation (September 2023)
38 slides from Osisko Metals's investor presentation, September 2023
Slide 1: Canada's Leading Copper-Zinc Developer Corporate Presentation
Gaspé Copper Site Canada’s Leading Copper-Zinc Developer Corporate Presentation September 2023 TSXV: OM OTCQX: OMZNF FRANCFORT: 0B51
Slide 2: Forward-Looking Statements & Cautionary Notes Regarding Technical Information
Forward-Looking Statements & Cautionary Notes Regarding Technical Information This presentation (the "Presentation") contains ""forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this Presen
Slide 3: Energy transition metals - long-term demand
Energy transition metals - long-term demand Cu Ni Co Zn 3
Slide 4: Energy transition metals - demand by sector
Energy transition metals - demand by sector 4
Slide 5: Discovery drought – the case for copper
Discovery drought – the case for copper 5
Slide 6: Incentive copper price is on the rise
Incentive copper price is on the rise A long-term price of US$4.50/lb is necessary for the advancement of most developing copper projects. Source: S&P Global Market Intelligence 6
Slide 7: Global production deficit starting in 2025
Global production deficit starting in 2025 MMt = Million metric tonnes Source: S&P Global Market Intelligence, April 2023 7
Slide 8: OM Project Locations
OM Project Locations Osisko Metals Projects Head Office 8
Slide 9: Gaspé Copper - Location and Support infrastructure
Gaspé Copper - Location and Support infrastructure Project Characteristics • Acquired from Glencore Canada in July 2023 • Highway access from Gaspé Copper to deep-sea port, rail and airport • Neighboring community of Murdochville • Hydroelectric power available on site • 60 MW of green wind power ge
Slide 10: Gaspé Copper Mine Circa 1990
Gaspé Copper Mine Circa 1990 10
Slide 11: Long History of Production – 44 years (1955-1999) 142 Mt @ 0.9% Cu
Long History of Production – 44 years (1955-1999) 142 Mt @ 0.9% Cu 11
Slide 12: Murdochville Today
Murdochville Today OS!SKO
Slide 13: Gaspé Copper Today – Reclaimed Site
Gaspé Copper Today – Reclaimed Site Porphyry Mtn. Oxide Stockpiles Copper Mtn. Pit $150 M in Mount Closure Former Copper Reclamation Smelter Costs Water Location Treatment Garages and Plant Administration Buildings 13
Slide 14: Gaspé Copper Today – Reclaimed site
Gaspé Copper Today – Reclaimed site High Neutralization potential by calcareous host rocks – calcite neutralizes acid effluents 14
Slide 15: Gaspé Copper – Mount Copper Expansion Project
Gaspé Copper – Mount Copper Expansion Project Porphyry Mtn. Mount Copper Murdochville Needle Mtn. 15
Slide 16: The Largest Untapped Copper Resource in Eastern North America
The Largest Untapped Copper Resource in Eastern North America Exceptional location for mining development in North America • Located near the community of Murdochville • Located in the claimed territory of the Mi’gmaq First Nation of Gespeg • Quebec is a very mining-friendly jurisdiction • Gaspé Cop
Slide 17: Gaspé Copper Acquisition with Glencore Canada
Gaspé Copper Acquisition with Glencore Canada Option Terms Price to Pay upon US$25,000,000 through issuance of a convertible note. Exercise of Option The note will be convertible by Glencore into units of Osisko Metals at a price of $0.40 per unit. Each unit will consist of one share and a half-warr
Slide 18: Gaspé Copper Geological Cross Section (Looking NW)
Gaspé Copper Geological Cross Section (Looking NW) PRODUCTION NEEDLE MTN* A Zone: 14 Mt @ 0.70% Cu COPPER MTN PRODUCTION * Oxidized Stockpiled Material* B Zone: 14.0 Mt @ 1.20% Cu 72 Mt @ 0.37% Cu, 0.02% Mo 31.4 Mt @ 0.35%CuOx C Zone: 33.0 Mt @ 1.60% Cu, E Zone: 9.0 Mt @ 2.80% Cu, 70 Mt @ 1.50% Cu 1
Slide 19: Over 3.1 Billion Pounds of Contained Copper
Over 3.1 Billion Pounds of Contained Copper Copper Sulfide Grade Copper Copper Tonnage Tonnage Classification Cut-Off (Mt) Total (%) Sulfide (%) Pounds Tonnes (%) 0.12 533 0.326 0.285 3,353,000,000 1,521,000 0.14 498 0.337 0.296 3,253,000,000 1,475,000 0.16 456 0.351 0.310 3,113,000,000 1,412,000 0.
Slide 20: Mount Copper - 2022 Definition Drilling Program
Mount Copper - 2022 Definition Drilling Program Copper Mtn. 20
Slide 21: Gaspé Copper – 2022 Drilling Highlights
Gaspé Copper – 2022 Drilling Highlights Composite Highlights of Intersected Mineralization Vertical Drill Hole From – To (m) Length (m) Cu (%) Ag (g/t) Mo (%) 225.0 – 1236.0 1011.0 0.46 3.19 0.02 30-1005 733.5 – 1045.5 312.0 0.76 4.79 0.04 30-0984A 529.5 – 765.0 235.5 0.43 2.98 0.04 30-0997 160.5 –
Slide 22: 2022 Inferred Mineral Resource Estimate - Room for Growth
2022 Inferred Mineral Resource Estimate - Room for Growth DDH 30-1005 ) ep ) ow (de all Pit (sh 22 DDH 30-1005 Pit 20 22 20 1011 metres @ 0,46 % Cu and 3,19 g/t Ag Higher grade 200 m core Block model in vertical section looking SW 22
Slide 23: Porphyry-style/skarn Cu-Mo Deposit in Sedimentary Setting
Porphyry-style/skarn Cu-Mo Deposit in Sedimentary Setting 23
Slide 24: Porphyry Mountain
Porphyry Mountain PRODUCTION NEEDLE MTN* A Zone: 14 Mt @ 0.70% Cu COPPER MTN PRODUCTION * Oxidized Stockpiled Material* B Zone: 14.0 Mt @ 1.20% Cu 72 Mt @ 0.37% Cu, 0.02% Mo 31.4 Mt @ 0.35%CuOx C Zone: 33.0 Mt @ 1.60% Cu, E Zone: 9.0 Mt @ 2.80% Cu, 70 Mt @ 1.50% Cu 1000 S N m Porphyry A Mtn. B C Sea
Slide 25: Porphyry Mountain Deep Resource - Open
Porphyry Mountain Deep Resource - Open Vertical Drill Hole From (m) – To (m) Length (m) Cu % Mo % 30-891 1144.8 – 1737.4 592.6 0.71 0.036 30-899 1120.7 – 1834.9 714.2 0.61 0.034 30-900 1269.0 – 1728.8 459.8 0.66 0.026 30-901 1207.0 – 1534.7 327.7 0.90 0.053 30-903 1264.0 – 1581.6 317.6 0.89 0.047 30
Slide 26: Timeline for Gaspé Copper
Timeline for Gaspé Copper 7 Year Timeline 2022-2023 2023-2027 2028 2029-2030 • Closing of GC • Environmental and • BAPE & Operating Socio-Economic • Project Financing & Acquisition July 2023 Permits Construction Impact Studies • Definition Drilling • Exploration Drilling • Potential Start of • Final
Slide 27: Pine Point
Pine Point Osisko Metals Projects Head Office 27
Slide 28: Support Infrastructure Still in Place
Support Infrastructure Still in Place Site Characteristics • CN Rail Head, Highway and Flights from Edmonton to Hay River • Property within 60 km of Hay River • Paved Highway from Hay River to Site • Low-Cost Hydro-Electric Power Available On Site From Taltson Dam 28
Slide 29: Pine Point: Positive 2022 PEA Outlined Potential for a Global Top Ten Zinc Producer
Pine Point: Positive 2022 PEA Outlined Potential for a Global Top Ten Zinc Producer • Near Surface Indicated Mineral Resource Estimate: M&I Resource of 15.8 Mt @ 4.2% Zn & 1.5% Pb + Inferred Resource of 47.2 Mt Grading 4.4% Zn and 1.7% Pb • NPV of C$605M and IRR of 25% (After-Tax, US$1.37 Zn) • Pote
Slide 30: Recent News – C$100 million Pine Point JV with Appian Resource Fund
Recent News – C$100 million Pine Point JV with Appian Resource Fund • Feb 21, 2023: C$100 Million investment agreement with Appian Natural Resources Fund III for a joint venture on the Pine Point Project. • Includes C$75.3 M of funding for the project over a 4 year period to FID • Summary of Joint V
Slide 31: Pine Point Could Produce one of the Cleanest Concentrates Globally
Pine Point Could Produce one of the Cleanest Concentrates Globally P: Above Penalty Level P: Above Penalty Level Lead & Zinc Concentrates: Premium Quality, High Grade and Clean • High recoveries for both zinc and lead (87% and 93%) using XRT sorting and conventional grinding and flotation processes
Slide 32: Access to International Concentrate Markets Via Rail
Access to International Concentrate Markets Via Rail 32
Slide 33: Pine Point Agreements Provide Community Support
Pine Point Agreements Provide Community Support • 2019: Announced two separate Collaboration Agreements with local indigenous communities: • Deninu K’ue First Nation • Northwest Territory Metis Nation • 2017: Exploration Agreement signed with K’atl’odeeche First Nation • Collaboration Agreements pro
Slide 34: Pine Point: Leading North American Zinc Development Project
Pine Point: Leading North American Zinc Development Project In fra Ra o ad Mt ass st il, we s Hy Ha ru (+ cal M & ) dr ul R ct op o ur 20 e iti Pine Cr r, Point Premium High-grade Concentrate 34
Slide 35: 2023 Objectives
2023 Objectives • Close acquisition of Gaspé Copper with Glencore; • Complete definition drilling programs at both Pine Point (29,000 m) and Gaspé Copper (10,000 m); M&I resources on both projects by year end. • Launch Feasibility Study at Pine Point in Q3 2023; • Launch PEA and Environmental Baseli
Slide 36: Takeaways
Takeaways • Shift toward a green, sustainable economy coupled with post-COVID infrastructure stimulus will dramatically increase global critical metal demand. • Critical metal production deficits are looming, as only a handful of development projects nearing permitting are in the global pipeline. •
Slide 37: Wrap-Up: Two Leading Base Metal Projects in the World's Safest Mining Jurisdiction
Wrap-Up: Two Leading Base Metal Projects in the World’s Safest Mining Jurisdiction 8 Billion pounds Zn+Pb Resource* 3 Billion Pounds Cu Resource* Osisko Metals Projects Head Office 37 * Inferred resources
Slide 38: Contacts
Contacts 1100, av. des Canadiens-de-Montréal Investors and General Inquiries: Suite 300 info@osiskometals.com Montreal, Qc, H3B 2S2 Tel: 514-940-0670 Fax: 514-861-1333 38
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