Osisko Metals Incorporated · TSX:OM
Osisko Metals — Investor Presentation (October 2024)
40 slides from Osisko Metals's investor presentation, October 2024
Slide 1: Canada's Leading Copper-Zinc Developer Corporate Presentation
Gaspé Copper Site Canada’s Leading Copper-Zinc Developer Corporate Presentation October 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: 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 5
Slide 6: Global Copper Production Deficit Starting in 2025
Global Copper Production Deficit Starting in 2025 6
Slide 7: Global Copper Production Deficit Starting in 2025
Global Copper Production Deficit Starting in 2025 MMt = Million metric Sources: S&P Global tonnes Market Intelligence and CRU 7
Slide 8: OM Projects Locations
OM Projects Locations Osisko Metals Projects Head Office 8
Slide 9: 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 • Neighbouring community of Murdochville • Located in the traditional territory of the Mi’gmaq First Nation of Gespe'gewa’gi • Hydroel
Slide 10: Gaspé Copper Mine Circa 1990
Gaspé Copper Mine Circa 1990 10
Slide 11: Long History of Production – 44 years (1955 - 1999)
Long History of Production – 44 years (1955 - 1999) 142 Mt @ 0.9% Cu 11
Slide 12: Gaspé Copper - More than 125 km of Underground Galleries
Gaspé Copper - More than 125 km of Underground Galleries 12
Slide 13: Murdochville today
Murdochville today OSISKO METALS
Slide 14: 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 14
Slide 15: Gaspé Copper Today – Reclaimed site
Gaspé Copper Today – Reclaimed site High Neutralization potential by calcareous host rocks – calcite neutralizes acid effluents 15
Slide 16: The Largest Untapped Copper Resource in Eastern North America
The Largest Untapped Copper Resource in Eastern North America – 3.2 B pounds copper 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-frie
Slide 17: Gaspé Copper – Copper Mountain Expansion Project
Gaspé Copper – Copper Mountain Expansion Project Footprint of Copper Mountain open pit model based on indicated resource of 495 Mt @ 0.37% CuEq 17
Slide 18: Gaspé Copper Acquisition with Glencore Canada
Gaspé Copper Acquisition with Glencore Canada Option Terms Price to Pay upon $25,000,000 USD 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 CAD per unit. Each unit will consist of one share and a hal
Slide 19: 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 Level
Slide 20: Copper Mtn – 2022-23 Definition Drilling Program (37,400 metres)
Copper Mtn – 2022-23 Definition Drilling Program (37,400 metres) Copper Mtn. 20
Slide 21: Over 3.2 Billion Pounds of Contained Copper
Over 3.2 Billion Pounds of Contained Copper Copper Tonnes Cu Eq Cu Mo Ag Cu metal Cu metal Mo metal Mo metal Ag metal Class Cut-Off (%) (Mt) (%) (%) (%) (g/t) (M lbs) (kt) (M lbs) (kt) (koz) Indicated 0.15 495 0.37 0.30 0.016 1.75 3,248 1,473 175 79.5 27,911 Inferred 0.15 6.3 0.37 0.28 0.019 1.44 39
Slide 22: Porphyry-style/skarn Cu-Mo Deposit in Sedimentary Setting
Porphyry-style/skarn Cu-Mo Deposit in Sedimentary Setting 22
Slide 23: Metallurgical Test Results
Metallurgical Test Results • Copper Recovery: 92% - 94% (Sulfide Cu) • Molybdenum Recovery: 65% • Silver Recovery: 70% • Copper Grade in the Concentrate: 24% - 28% • Ball Mill BWI 13.5 • Further testing planned for 2024 23
Slide 24: Additional Resource Potential
Additional Resource Potential MT. COPPER IND. RES. 495 Mt @ 0.37% CuEq NEEDLE MTN Potential for open-pit resource expansion in A Zone 1000 m S N Porphyry A Mtn. B C Sea Expanded Pit Level E L E-Zone L 1 L - 500 m Potential underground high- L 1 2 grade (3% Cu) resource expansion Hornfels+ Fresh 2 Sk
Slide 25: 2024 Indicated Mineral Resource Estimate - Room for Growth with 2024 Drill program
2024 Indicated Mineral Resource Estimate - Room for Growth with 2024 Drill program DDH 30-1005 DDH 30-1005 312 metres @ 0,93% CuEq Higher grade 200 m core Block model in vertical section looking SW 25
Slide 26: 2024 Copper Mtn Drill program – 12 DDH for 4700 m
2024 Copper Mtn Drill program – 12 DDH for 4700 m in higher grade core of deposit 26
Slide 27: Gaspé Copper - Social License
Gaspé Copper - Social License 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. • Measures will be taken by Osisko Metals to mitigate noise pollutio
Slide 28: Gaspé Copper – 2024 Environmental Assessment
Gaspé Copper – 2024 Environmental Assessment 28
Slide 29: 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 30: Pine Point
Pine Point Osisko Metals Projects Head Office 30
Slide 31: 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 31
Slide 32: Access to International Concentrate Markets Via Rail
Access to International Concentrate Markets Via Rail 32
Slide 33: $100M CAD Pine Point JV with Appian Resource Fund
$100M CAD Pine Point JV with Appian Resource Fund • Feb 21, 2023: $100M CAD investment agreement with Appian Natural Resources Fund III for a joint venture on the Pine Point Project. • Includes $75.3M CAD of funding for the project over a 4 year period to FID • Summary of Joint Venture: Osisko Metal
Slide 34: Pine Point: Positive 2022 PEA Outlined Potential for a Global Top-10 Zinc Producer
Pine Point: Positive 2022 PEA Outlined Potential for a Global Top-10 Zinc Producer • Near Surface Indicated Mineral Resource Estimate: M&I Resource of 49.5 Mt @ 4.2% Zn & 1.5% Pb + Inferred Resource of 8.3 Mt Grading 4.2% Zn and 1.7% Pb • NPV of C$605M and IRR of 25% (After-Tax, US$1.37 Zn) • Potent
Slide 35: 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 36: 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 37: 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 Environmental Baseline studies at Gaspé Copper Q2-Q3 Continue definition drilling programs at Gaspé Copper for both Copper Mountain and N
Slide 38: Share Structure and BOD
Share Structure and BOD Significant Shareholders As at September 2024 Insiders . . . . . . . . . . . . . . . . . . . . . . . . .25.1% Market Cap . . . . . . . . . . . . . . . .$56M Osisko Group. . . . . . . . . . . . . . . . . . . . 16.4% Approximate cash position . . . $3.5M Institutional . . . . .
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 +6 Billion pounds Zn+Pb Resource* +3 Billion Pounds Cu Resource* Osisko Metals Projects Head Office * Indicated 39 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 40