Slide 1: A Premier North American Gold Mining Company
A PREMIER NORTH AMERICAN GOLD MINING COMPANY INVESTOR PRESENTATION JULY 2023 NYSE: ODV | TSXV: ODV | www.osiskodev.com
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This presentation (this "Presentation") contains forward-looking information and forward-looking statements (together, "forward-looking statements") within the meaning of applicable Canadian securities laws and the Unit
Slide 3: Cautionary Statements: Mineral Resource Estimates
CAUTIONARY STATEMENTS CAUTION REGARDING MINERAL RESOURCE ESTIMATES This Presentation uses the terms measured mineral resources, indicated mineral resources, and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral re
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Building a Premier North American Mid-tier Gold Mining Company HIGH-QUALITY ADVANCED BROWNFIELD PROJECTS IN TIER 1 JURISDICTIONS Assets located in North America with access to brownfield infrastructure benefitting from grid power and skilled labour pools WORLD-CLASS TEAM LED BY
Slide 5: Premier Mining Jurisdictions
PREMIER MINING JURISDICTIONS Brownfield properties with existing accessible infrastructure and meaningful exploration upside 100% CARIBOO GOLD PROJECT (BC, CANADA) Ownership Feasibility Study Completed (Jan 2023) | Advancing Mine Permitting ▪ 2.0 Moz reserves (16.7 Mt at 3.8 g/t Au) | 1.6 Moz M&I re
Slide 6: Executing on Our Vision & Strategy
EXECUTING ON OUR VISION & STRATEGY INTERMEDIATE JUNIOR PRODUCER GOLD PRODUCER DEVELOPER TINTIC PROJECT 350 – 500 ADVANCING HIGH-GRADE TRIXIE 100 – 250 KOZ PER YEAR KOZ PER YEAR CARIBOO GOLD FEASIBILITY STUDY PRICE / NAV (x)1 1.1x POTENTIAL 0.9x RE-RATE 0.8x 0.7x 0.6x 0.5x 0.4x ODV All Peers Tier I P
Slide 7: Capital Structure Snapshot
CAPITAL STRUCTURE SNAPSHOT OSISKO DEVELOPMENT CORP.1,2 SHAREHOLDER OWNERSHIP Current Share Price (closing price on July 12, 2023) C$6.09 /share 26% Basic Shares Outstanding 83.6 million Institutional 40% Options, DSUs, and RSUs 4.4 million Investors Osisko Gold Warrants3 31.9 million Royalties Fully
Slide 8: Tintic Project
TINTIC PROJECT Utah, USA 100% ODV ownership Virtual Tour NYSE: ODV | TSXV: ODV www.osiskodev.com 8
Slide 9: Tintic Project: Asset Snapshot
TINTIC PROJECT: ASSET SNAPSHOT LOCATION / OWNERSHIP MINE TYPE METALS STAGE LAND PACKAGE 100% ODV Utah, USA Underground Gold, Silver Initial Resource ✓ >17,000 acres1 of Cu, Pb, Zn (Q1 2023) patented (private) claims North HIGHLY PRODUCTIVE HISTORICAL MINING DISTRICT Lily Eureka Tintic Standard Loc
Slide 10: Trixie Initial Mineral Resource Estimate
TRIXIE INITIAL MINERAL RESOURCE ESTIMATE (“MRE”) TRIXIE MINERAL RESOURCES ESTIMATE – January 10, 20231 RESOURCE TONNES METAL GRADE CONTAINED METAL CUT-OFF GRADE Resources (koz) Grade (g/t Au) CATEGORY (000’s) VARIATION (g/t Au) (g/t Ag) (000’s oz Au) (000’s oz Ag) 34.6 30.9 28.1 MEASURED 11 190.61 1
Slide 11: Underground Ramp Development ~75% Complete
UNDERGROUND RAMP DEVELOPMENT ~75% COMPLETE1 Completion of the ramp a critical path item in unlocking value at Trixie RAMP DEVELOPMENT: ~1,390 M (4,550 ft.) 3 HISTORIC MINERALIZED ZONES OPEN AT DEPTH AND STRIKE RAMP FROM SURFACE TO 625 LEVEL 756 610 SOUTH SURVEY ORE SHOOT ORE SHOOT VEIN Enables bul
Slide 12: Trixie Exploration Potential
TRIXIE EXPLORATION POTENTIAL Initial MRE at Trixie represents a very small footprint of the overall underground potential SOUTH NORTH Trixie MRE TRIXIE INITIAL MRE1 380 meter strike length 85 meter width Empire State 140 meter depth building for scale (~4 football fields) NORTH SOUTH INITIAL M
Slide 13: Trixie Exploration Potential
TRIXIE EXPLORATION POTENTIAL West 1 East TRIXIE MINERALIZATION Quartz Stockwork OVERVIEW T2 T4 High-sulphidation epithermal mineralization structurally Footwall controlled and hosted within the brittle Tintic Quartzite Breccia 2 Mineralization capped by impermeable shales of the Lower Ophir Form
Slide 14: Sampling and Drilling Have Shown Continuity of T2 / T4
SAMPLING AND DRILLING HAVE SHOWN CONTINUITY OF T2 / T4 2023 program includes initial 5,000 m of underground exploration and delineation drilling of MRE TRIXIE CROSS SECTION High-grade gold results greater than 100 g/t are present throughout the entire 2022 DRILLING LOOKING NORTH2 sampled area, on al
Slide 15: Recent Chip Sampling and Drilling Highlights
RECENT CHIP SAMPLING AND DRILLING HIGHLIGHTS Results have shown chip samples of up to ~67 oz/t (2,311 g/t) over 2.3 meters Drilling assays generally report lower grades than sampling SELECT CHIP SAMPLING1,2 SELECT DRILLING2,3 assays due to the nuggety nature of the gold system HOLE ID WIDTH GRADE
Slide 16: East Tintic Regional Exploration Potential
EAST TINTIC REGIONAL EXPLORATION POTENTIAL Highly prospective 5 km long corridor with 23 historic mines, extensive legacy datasets East Tintic Au-rich epithermal mineralization zones run vertically downwards and to the west from Pb-Ag-Zn CRD’s to EPITHERMAL HIGH-GRADE Au-Ag 1 Au-Ag-Cu epithermal vei
Slide 17: Regional Targets: Epithermal High-Grade Au-Ag
1 REGIONAL TARGETS: EPITHERMAL HIGH-GRADE Au-Ag Targets identified based on 3D geological modelling completed to date EUREKA STANDARD NORTH LILY Epithermal Au-Ag along trend NNE of Trixie North Lily operated between 1927 and 1940s Mineralization hosted in the brittle Tintic Quartzite with stru
Slide 18: Regional Targets: Carbonate Replacement Ag-Pb-Zn
2 REGIONAL TARGETS: CARBONATE REPLACEMENT Ag-Pb-Zn Data compilation and geologic modelling ongoing HISTORIC BURGIN MINE Mined by Kennecott until 1978, with the “Burgin Extension” discovered from drilling undertaken in 1980 The Burgin mine hosts a significant Pb-Zn-Ag-Au replacement style deposit
Slide 19: Regional Targets: Porphyry Cu-Au-Mo Potential
3 REGIONAL TARGETS: PORPHYRY Cu-Au-Mo POTENTIAL Strong evidence for multiple potential porphyry centers within the district BIG HILL PORPHYRY TARGET Located 65 km south of Bingham Canyon Mine operated by Rio Tinto since 1906 To date produced over ~25 MT copper, ~1.5 MT molly, ~43 Moz gold, and ~
Slide 20: Cariboo Gold Project
CARIBOO GOLD PROJECT British Columbia, Canada 100% ODV ownership Virtual Tour NYSE: ODV | TSXV: ODV www.osiskodev.com 20
Slide 21: Cariboo Gold Project: Asset Snapshot
CARIBOO GOLD PROJECT: ASSET SNAPSHOT District scale exploration upside potential in an under-explored Cariboo gold belt LOCATION / OWNERSHIP MINE TYPE METALS STAGE LAND PACKAGE 100% ODV BC, Canada Underground Gold Feasibility Study ✓ Mosquito 192,000 ha Silver (Jan-23) Wells Shaft Island Valley Bark
Slide 22: Cariboo Project Permitting Timeline
CARIBOO PROJECT PERMITTING TIMELINE Significant progress made in de-risking the project through the permitting process 2020 2021 2022 2023 2024 H1 H2 H1 H2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 ENVIRONMENTAL ASSESSMENT Early Engagement ✓ Detailed Project Description ✓ Submission of Detailed Project Description
Slide 23: Cariboo Feasibility Study at a Glance
CARIBOO FEASIBILITY STUDY AT A GLANCE1 Feasibility Study Presentation FIRST INITIAL TOTAL GOLD MINE LIFE PRODUCTION CAPITAL RECOVERED1 12 YEARS 2024 (Phase 1) C$137.3 M 1.87 MOZ Phase 1 (1-3); Phase 2 (4-12) 2027 (Phase 2) Expansion C$451.1 M 2.03 Moz Probable Reserves PRODUCTION LOM AISC2 NPV5% | I
Slide 24: Cariboo 2023 Feasibility Study Highlights
CARIBOO 2023 FEASIBILITY STUDY HIGHLIGHTS1 FS demonstrates that Cariboo will be a large-scale, long-life and profitable gold mine SCALABLE PHASED Minimizing exposure to development risk with flexibility to scale up DEVELOPMENT Phase 1: 1,500 tpd operation at ~73 koz / year (first 3 years) ~164 k
Slide 25: Mine Design Summary
MINE DESIGN SUMMARY Phase 1 production to come from Lowhee, Shaft and Mosquito deposits The vertical extent of all mineable blocks averages ~350 meters Mineralization is open at depth and along strike and between and mineralization has been tested down to 900 meters some deposits due to lack of
Slide 26: Location, Location, Location
LOCATION, LOCATION, LOCATION … PORTAL TO Virtual Tour LOWHEE ZONE QR MILL Railroad Proposed Transmission Wells Line Barkerville Quesnel Highway 100% OWNED, FULLY PERMITTED AND OPERATIONAL Produced gold in 2022 QR Mill Mt Polley Mine Gibraltar Mine ODV Mineral Tenure – 192,000 ha property ROADHEADER
Slide 27: Cariboo 2023 Feasibility Study Summary
CARIBOO 2023 FEASIBILITY STUDY SUMMARY Feasibility Study SUMMARY OPERATING RESULTS1 SUMMARY ECONOMIC RESULTS1 (US$1,700/OZ AU) Phase 1 Phase 2 LOM LOM (2024 – 2026) (2027 – 2036) (12 years) (12 years) Ore Mined Mt 1.5 15.2 16.7 Total Revenue C$M $4,126 Cumulative Cash Flow (pre-tax)2 C$M $1,192 Thro
Slide 28: Cariboo Benchmarking: Canadian Underground Mines
CARIBOO BENCHMARKING: CANADIAN UNDERGROUND MINES CANADIAN UNDERGROUND GOLD ASSETS: UG MINING COSTS (C$/tonne) vs. GRADE (Au g/t) (C$/tonne, UG mining costs) (g/t Au, gold grade) Development $250 18.0 $235 Producing One of Few Advanced Stage Grade (g/t Au) 16.0 $200 Underground Deposits in Canada $18
Slide 29: Processing Capacity Expansion Potential
PROCESSING CAPACITY EXPANSION POTENTIAL CARIBOO GOLD MINE SITE COMPLEX Phase 1 (years 1-3) Grinding & Flotation STREAMLINED Phase 2 (years 4-12) Ore Sorting (Phase 2) (Phase 1)1 DESIGN THAT Expansion Potential ALLOWS SCALING Office, Ore Sorting Warehouse PROCESSING & Garage (Phase 2) (Phase 1) CAPAC
Slide 30: Nature of Mineralization Favorable to Ore Sorting
NATURE OF MINERALIZATION FAVORABLE TO ORE SORTING Metallurgical testing to date indicates that Cariboo mineralization is well suited for ore sorting Ore Sorting Separates Gold Rich (11.0 g/t1) Host Rock From Unmineralized Sandstone 481 VEIN CORRIDORS Pyrite hosted in quartz veins High Density Materi
Slide 31: Up "Grade" Process
UP “GRADE” PROCESS1 View the ore sorter technology Average estimated uncapped length weighted in action here and here grade of quartz veins in vein corridors2 PHASE I (2024 – 2026) ~11 g/t 4.43 g/t 8.20 g/t 8.20 g/t AVG. GOLD MINED POST-ORE FEED VEIN GRADE2 GRADE SORTING GRADE DILUTION FROM ORE SORT
Slide 32: Cariboo Upside Potential Through Resource Conversion
CARIBOO UPSIDE POTENTIAL THROUGH RESOURCE CONVERSION FEASIBILITY STUDY – M&I RESOURCES ONLY1 ADDITIONAL INFERRED RESOURCES1 All ramp, access and haulage drifts and other primary Potential to convert inferred resources near mined ounces at infrastructure to be constructed to provide access to min
Slide 33: Cariboo Exploration Potential at Depth
CARIBOO EXPLORATION POTENTIAL AT DEPTH 2.03 Moz Au at 3.8 g/t Au in Probable Reserves1 1.57 Moz Au at 3.3 g/t Au M&I resources, 1.71 Moz at 3.44 g/t Au Inferred Resources with potential to be converted1 >500 m additional depth potential of known vein corridors adjacent to mine plan untested –
Slide 34: Developing a Mining Camp
DEVELOPING A MINING CAMP District-scale exploration upside in under-explored Cariboo Gold Belt High degree of confidence in geological model with anomalous gold values >2.0 g/t Au in ~80% of drill holes Area of currently defined MRMR 155,000 ha property with 83 kilometers strike of gold target
Slide 35: San Antonio Project
SAN ANTONIO PROJECT Sonora, Mexico 100% ODV ownership NYSE: ODV | TSXV: ODV www.osiskodev.com 35
Slide 36: San Antonio: Project Overview
SAN ANTONIO: PROJECT OVERVIEW Sonora ASSET HIGHLIGHTS Located 160 km from airport and towns of Hermosillo and Obregon in mining-friendly Sonora Constructed a heap leach pad and a carbon in column plant at the end of 2021 to process stockpiled mineralized material • 1.1 Mt stockpile grading 0.58
Slide 37: San Antonio Gold Project
SAN ANTONIO GOLD PROJECT Stockpile placed on newly constructed heap leach pad NYSE: ODV | TSXV: ODV www.osiskodev.com 37
Slide 38: Appendix
APPENDIX NYSE: ODV | TSXV: ODV www.osiskodev.com 38
Slide 39: World-Class Leadership
WORLD-CLASS LEADERSHIP SEAN ROOSEN, CEO ALEXANDER DANN, CFO, CPA, CA BOARD OF DIRECTORS • Founding member of Osisko Mining Corporation (2003- • 25 years of experience leading finance operations and strategic planning for companies in 2014) the mining and manufacturing sectors • Responsible for devel
Slide 40: Best in Class ESG
BEST IN CLASS ESG Committed to responsible mining practices, strong relationships, and mutual support with all partners ENVIRONMENT INDIGENOUS NATIONS ▪ Osisko Development constructed two water treatment plants ▪ Positive relationship with Lhtako Dené Nation since 2015. to treat contact water and ef
Slide 41: Cariboo Mineral Reserves & Resources
CARIBOO MINERAL RESERVES & RESOURCES (Measured and Indicated Resources are exclusive of Reserves) MINERAL RESOURCES MEASURED INDICATED MEASURED & INDICATED INFERRED Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Deposit (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (00
Slide 42: Mineral Resource Estimate – San Antonio Project
MINERAL RESOURCE ESTIMATE – SAN ANTONIO PROJECT1 TONNES GRADE (g/t) CONTAINED METAL DEPOSIT CATEGORY (Mt) SILVER GOLD SILVER (Moz) GOLD (koz) Indicated 3.9 2.5 1.22 0.31 153 CALIFORNIA Inferred 1.6 3.3 1.10 0.17 58 Indicated 5.7 2.5 1.44 0.46 262 GOLFO DE ORO Inferred 6.4 2.5 1.24 0.52 254 Indicated
Slide 43: Trixie Mineral Resources Estimate – January 10, 2023
TRIXIE MINERAL RESOURCES ESTIMATE – January 10, 2023 GRADE CONTAINED GRADE CONTAINED DOMAIN CATEGORY TONNES (AU G/T) GOLD (OZ) (AG G/T) SILVER (OZ) Measured – – – – – Indicated 34,470 16.39 18,159 30.55 33,856 T1 M+I 34,470 16.39 18,159 30.55 33,856 Inferred 134,665 16.59 71,832 38.51 166,716 Measur
Slide 44: NYSE: ODV | TSXV: ODV
PHILIP RABENOK, DIRECTOR, INVESTOR RELATIONS Download a copy of this prabenok@osiskodev.com | +1 (437) 423 3644 presentation to your device by scanning the QR code! NYSE: ODV | TSXV: ODV | www.osiskodev.com