Osisko Metals Incorporated · TSX:OM
Osisko Metals — Investor Presentation (April 2024)
40 slides from Osisko Metals's investor presentation, Apr 25, 2024
Slide 1: Canada's Leading Copper-Zinc Developer Corporate Presentation
Gaspé Copper Site Canada’s Leading Copper-Zinc Developer Corporate Presentation April 2024 TSXV: OM OTCQX: OMZNF FRANKFURT: 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 2022 6
Slide 7: The Evolution of Copper Prices Over the Past Years
The Evolution of Copper Prices Over the Past 2 Years In the past six months, the price of copper has increased by 20% $USD per pound 7
Slide 8: Global Copper Production Deficit Starting in 2025
Global Copper Production Deficit Starting in 2025 MMt = Million metric tonnes Source: S&P Global Market Intelligence, April 2023 8
Slide 9: OM Project Locations
OM Project Locations Osisko Metals Projects Head Office 9
Slide 10: Gaspé Copper - Location and Support infrastructure
Gaspé Copper - Location and Support infrastructure • Acquired from Glencore Canada in July 2023 • Highway access from Gaspé Copper to deep-sea port, rail and airport • Neighboring community of Murdochville • Located in the traditional territory of the Mi’gmaq First Nation of Gespe'gewa’gi • Hydroele
Slide 11: Gaspé Copper Mine Circa 1990
Gaspé Copper Mine Circa 1990 11
Slide 12: Long History of Production – 44 years (1955-1999)
Long History of Production – 44 years (1955-1999) 142 Mt @ 0.9% Cu 12
Slide 13: Gaspé Copper - More Than 125 km of Underground Galleries
Gaspé Copper - More Than 125 km of Underground Galleries 13
Slide 14: Murdochville, today
Murdochville, today OSISKO METALS
Slide 15: 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 15
Slide 16: Gaspé Copper Today – Reclaimed site
Gaspé Copper Today – Reclaimed site High Neutralization potential by calcareous host rocks – calcite neutralizes acid effluents 16
Slide 17: Gaspé Copper – Mount Copper Expansion Project
Gaspé Copper – Mount Copper Expansion Project Porphyry Mtn. Mount Copper Murdochville Needle Mtn. 17
Slide 18: 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 ancestral territory of the Mi’gmaq First Nation of Gespe'gewa’gi Quebec is a very mining-friendly jurisdiction • Ga
Slide 19: 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 20: 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 * B Zone: 14.0 Mt @ 1.20% Cu 72 Mt @ 0.37% Cu, 0.02% Mo 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 Expanded Pit Lev
Slide 21: Mount Copper – 2022-23 Definition Drilling Program
Mount Copper – 2022-23 Definition Drilling Program Copper Mtn. 21
Slide 22: 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 23: 2022 Inferred Mineral Resource Estimate - Room for Growth
2022 Inferred Mineral Resource Estimate - Room for Growth DDH 30-1005 DDH 30-1005 1011 metres @ 0,46 % Cu and 3,19 g/t Ag Higher grade 200 m core Block model in vertical section looking SW 23
Slide 24: Porphyry-style/skarn Cu-Mo Deposit in Sedimentary Setting
Porphyry-style/skarn Cu-Mo Deposit in Sedimentary Setting 24
Slide 25: Metallurgical Test Results
Metallurgical Test Results • Copper Recovery: 92%-94% • Molybdenum Recovery: 65% • Silver Recovery: 70% • Copper Grade in the Concentrate: 24%-28% • Ball Mill BWI 13.5 25
Slide 26: Additional Resource Potential
Additional Resource Potential MT. COPPER INF. RES. 456 Mt @ 0.31% Cu NEEDLE MTN Potential for open-pit resource expansion in A Zone 1000 S N m Porphyry A Mtn. B C Sea Expanded Pit Level E L E-Zone L 1 L - Potential underground high- 500 L 1 2 grade (3% Cu) resource m expansion Hornfels+ Fresh 2 Skar
Slide 27: Gaspé Copper - Social Acceptability
Gaspé Copper - Social Acceptability Factors contributing to the positive reaction of the Murdochville community: • Strict environmental standards contribute to increasing the community’s confidence in the potential reopening of the mine. • Measured will be taken by Osisko Metals to mitigate noise po
Slide 28: Timeline for Gaspé Copper
Timeline for Gaspé Copper 7 Year Timeline 2022-2024 2024-2027 2028 2029-2030 • Closing of GC • Environmental and • BAPE & Operating Socio-Economic • Project Financing & Acquisition July 2023 Permits Construction Impact Studies • Definition Drilling • Explo Drilling (E zone) • Potential Start of • Fi
Slide 29: Pine Point
Pine Point Osisko Metals Projects Head Office 29
Slide 30: 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 30
Slide 31: Access to International Concentrate Markets Via Rail
Access to International Concentrate Markets Via Rail 31
Slide 32: C$100 million Pine Point JV with Appian Resource Fund
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 Venture: Osisko
Slide 33: 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 34: Pine Point Could Produce one of the Cleanest Concentrates Globally
Pine Point Could Produce one of the Cleanest Concentrates Globally 18.00% P: Above Penalty Level 6,000 P: Above Penalty Level Minor Element Penalties 16.00% Major Element Penalties 5,000 Mn 14.00% SiO2 12.00% Fe Hg 4,000 10.00% Pb Cd (ppm) Cu 3,000 As 8.00% 6.00% 2,000 4.00% 1,000 2.00% 0.00% 0 Lead
Slide 35: Pine Point FN Agreements Provide Community Support
Pine Point FN Agreements Provide Community Support • 2017: Exploration Agreement signed with K’atl’odeeche First Nation • 2019: Announced two separate Collaboration Agreements with local indigenous communities: • Deninu K’ue First Nation • Northwest Territory Metis Nation • Collaboration Agreements
Slide 36: 2024 Objectives
2024 Objectives • Q1 Launch exploration drilling program at Pine Point (6000 m) • Q2 Release updated M&I Mineral Resource Estimates at both projects • Q2 Launch Feasibility Study at Pine Point • Q2 Launch Environmental Baseline studies at Gaspé Copper • Q2-Q3 Continue definition drilling programs at
Slide 37: Share Structure and BOD
Share Structure and BOD Significant Shareholders As at April 2024 Insiders . . . . . . . . . . . . . . . . . . . . . . . . .25.1% Market Cap . . . . . . . . . . . . . . . .$42.3 M Osisko Group. . . . . . . . . . . . . . . . . . . . 16.4% Approximate cash position . . . $7.5M Institutional . . . . .
Slide 38: Takeaways
Takeaways • Shift toward a green, sustainable economy coupled with post-COVID infrastructure stimulus is increasing global critical metal demand. • A global production deficit of critical metals is imminent, as only a handful of serious development projects are underway worldwide. • “Almost unattain
Slide 39: 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 +7 Billion pounds Zn+Pb Resource* +3 Billion Pounds Cu Resource* Osisko Metals Projects Head Office 39 * Inferred resources
Slide 40: 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 40