Osisko Metals Incorporated · TSX:OM
Osisko Metals — Investor Presentation (March 2025)
23 slides from Osisko Metals's investor presentation, March 2025
Slide 1: Canada’s Next Leading Copper Development Company
Canada’s Next Leading Copper Development Company March 2025 TSXV: OM OTCQX: OMZNF FRANKFURT: 0B51 TSXV:OM OTCQX:OMZNF FRANKFURT:0B51 1
Slide 2: Forward-looking statements and cautionary notes regarding technical information
Forward-looking statements and cautionary notes regarding technical information This pr ese nta tion (the "P resentatio n") contains "for war d-looking information" within the mean ing of app licab le Cana dian se cur ities legislatio n. These “fo rwa rd-looking information” are ba sed on the expect
Slide 3: Why invest in Osisko Metals: Canada’s next leading critical metals developer
Why invest in Osisko Metals: Canada’s next leading critical metals developer Strong balance sheet with closing of recent bought-deal financing • C$107M gross proceeds to fund the Gaspé Copper Project to a construction decision Experienced, highly successful leadership team with a history of world-cl
Slide 4: Gaspé Copper: A brownfield site with infrastructure all in place
Gaspé Copper: A brownfield site with infrastructure – highways, rail, power, and port – all in place • Acquired from Glencore Canada in July 2023 • Highway access from Gaspé Copper to deep-sea port, rail, and airport • Hydroelectric power available on site; 70 MW of green wind power generation surro
Slide 5: Gaspé Copper produced more than 141 Mt at 0.9% copper over 44 years
Gaspé Copper produced more than 141 Mt at 0.9% copper over 44 years from underground galleries and open pit Copper futures currently trading at $4.57/lb 5.00 4.00 3.00 Mine closed at 2.00 $0.65/lb copper 1.00 0.00 February 1990 February 1995 February 2000 February 2005 February 2010 February 2015 Fe
Slide 6: Gaspé Copper today is a reclaimed site after ~C$150M in closure reclamation costs
Gaspé Copper today is a reclaimed site after ~C$150M in closure reclamation costs Oxide Stockpiles Porphyry Mtn. Copper Mtn. Pit Former Mount Smelter Copper Water Location Treatment Plant Garages and Administration Buildings TSXV:OM OTCQX:OMZNF FRANKFURT:0B51 6
Slide 7: Gaspé Copper can again produce clean copper and molybdenum concentrates
Gaspé Copper can again produce clean copper and molybdenum concentrates with excellent metal grades Off-take 92-94% copper 65-70% agreement with recoveries with molybdenum Payable silver concentrate recoveries with credit added Glencore for 70% silver grades of concentrate to the copper; pending rec
Slide 8: Added resource potential: up-dip from current resource towards Needle Mountain
Added resource potential: up-dip from current resource towards Needle Mountain 110,000-metre drill program launched in early February Goals: • convert existing inferred resources into the indicated or measured resource categories • test potential expansion of the current resources deeper to 250 m be
Slide 9: Added resource potential: up-dip from current resource towards Needle Mountain
Added resource potential: up-dip from current resource towards Needle Mountain COPPER MOUNTAIN INDICATED RESOURCE Felsic Porphyry 824 Mt @ 0.34% CuEq POTENTIAL RESOURCE EXPANSION TOWARDS Stockwork Mineralization NEEDLE MOUNTAIN Skarn-Manto Mineralization 1000m S N Porphyry A Mtn. 500m C B Sea Expand
Slide 10: Fostering social license and developing positive relationship with local community
Fostering social license and developing positive relationship with local community • Continuing to build good relations with local communities, including the Mi’gmaq First Nation of Gespe'gewa’gi, to facilitate exchanges on the social acceptability of the project • Focused on mitigating noise pollut
Slide 11: Carrying forward a positive environmental legacy
Carrying forward a positive environmental legacy Strict environmental standards contribute to building the community’s confidence in the potential reopening of the mine Planning for pit dewatering • Sampling of surface waters, pit water, Mine site restored by Glencore: basins and sediments. • The re
Slide 12: Gaspé Copper has near-term potential to be in production in a growing copper deficit market
Gaspé Copper has near-term potential to be in production in a growing copper deficit market EXPECTED SEVEN YEAR TIMELINE FOR GASPÉ COPPER 2022-2024 2025-2028 2029 2030-2031 ✅ July 2023: • Environmental and • BAPE and • Project financing closing of Gaspé socio-economic impact operating permits and co
Slide 13: North American development-stage copper peers: Gaspé Copper is moving to the top
North American development-stage copper peers: North American Copper Development Peers Gaspé Copper is moving to the top Company Project Contained Cu (Bn lbs) M&I Cu Jurisdiction Grade (%) 0.0 2.0 4.0 6.0 8.0 10.0 12.0 Arizona Sonoran Cactus 0.58% Arizona Western Au & Cu Casino 0.14% Yukon Ivanhoe E
Slide 14: Fully funded to execute on strategic plan
Fully funded to execute on strategic plan TSXV: OM Fully diluted $107M bought-deal financing Share price (as at February 19) C$0.38 Closed on December 11, 2024 • Shares become free trading on April 11, 2025 Common shares outstanding 609,560,630 969,765,630 • Half Warrant expires on December 11, 2026
Slide 15: Osisko Metals: Canada’s next leading copper development company
Osisko Metals: Canada’s next leading copper development company ✓ Led by a senior multi-disciplinary team with a proven track record of discovery, development, finance, building and operating, and high shareholder returns ✓ Strong balance sheet with closing of $107M bought-deal financing – fully fin
Slide 16: Appendix
Appendix TSXV:OM OTCQX:OMZNF FRANKFURT:0B51 16
Slide 17: New in-pit Indicated Resource outlines largest undeveloped Cu-Mo deposit in Eastern North America
New in-pit Indicated Resource outlines largest undeveloped Cu-Mo deposit in Eastern North America NI 43-101 Mineral Resource Estimate (base case at 0.12% copper cut-off) Copper Tonnes equivalent Copper Copper Copper Molybdenum Molybdenum Molybdenum Silver Silver Class Mt % % M lbs kt % M lbs Kt g/t
Slide 18: The leading brownfield copper development project in one of the world’s best mining jurisdictions
The leading* brownfield copper development project in one of the world’s best mining jurisdictions Gaspé Copper project: Current in-pit resource at 824 Mt @ 0.34% CuEq (Indicated) and 670 Mt @ 0.38% CuEq (Inferred).(2) (*) “Leading” in respect of the Gaspe Copper Project is based on the Contained Cu
Slide 19: Several large scale-deposits trading at a discount
Several large scale-deposits trading at a discount TSXV:OM OTCQX:OMZNF FRANKFURT:0B51 19
Slide 20: Strategic thesis: green, decarbonized future depends on critical metals like copper and zinc
Strategic thesis: green, decarbonized future depends on critical metals like copper and zinc Osisko Metals offers exposure to copper (Gaspé Copper) and zinc (Pine Point project) within a Tier One mining jurisdiction. Copper Nickel Cobalt Zinc TSXV:OM OTCQX:OMZNF FRANKFURT:0B51 20
Slide 21: Strategic thesis: green, decarbonized future depends on critical metals like copper and zinc
Strategic thesis: green, decarbonized future depends on critical metals like copper and zinc TSXV:OM OTCQX:OMZNF FRANKFURT:0B51 21
Slide 22: Impediments to new supply
Impediments to new supply • Global « discovery drought » since 2014 Sources: S&P Global Market Intelligence and CRU • Lagging spot price with respect to incentivization price • Increasing permitting timelines (Rosemont, Resolution); Global average now 12 years • Jurisdictional risks Long-term copper
Slide 23: Projected copper supply gap to begin in 2025
Projected copper supply gap to begin in 2025 Sources: S&P Global Market Intelligence and CRU TSXV:OM OTCQX:OMZNF FRANKFURT:0B51 23