Slide 1: Reviving Historic Mining Camps in North America
REVIVING HISTORIC MINING CAMPS IN NORTH AMERICA INVESTOR PRESENTATION – APRIL 2024 ODV NYSE TSXV | osiskodev.com
Slide 2: Cautionary Statements: Forward-Looking Information
CAUTIONARY STATEMENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Certain statements contained in this presentation (this "Presentation") may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-lo
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 Past-Producing Advanced Advancing the Cariboo Gold Developing the Historic Tintic Brownfield Projects in Tier 1 Project toward Shovel Ready Project in Utah, USA Jurisdictions Status in Canada Fast-tracking Trixie high-grade gold Assets located in North America with Feasibility
Slide 5: Mining Friendly Jurisdictions
MINING FRIENDLY JURISDICTIONS Brownfield properties with existing accessible infrastructure and meaningful exploration upside BC, Canada Utah, USA CARIBOO GOLD PROJECT 100% ownership TINTIC PROJECT 100% ownership Feasibility Study (completed Jan 2023) Trixie MRE (completed Mar 2024) Status EA Certif
Slide 6: Executing on Vision & Strategy
EXECUTING ON VISION & STRATEGY INTERMEDIATE JUNIOR PRODUCER GOLD PRODUCER DEVELOPER CARIBOO GOLD 350 – 500 FEASIBILITY STUDY / ADVANCING PERMITTING 100 – 250 KOZ PER YEAR KOZ PER YEAR TINTIC PROJECT ADVANCING TRIXIE / PORPHYRY TARGETS 1.1x 0.9x PRICE / NAV (x)1 0.8x 0.7x RE-RATE POTENTIAL RE-RATE 0.
Slide 7: Capital Structure Snapshot
CAPITAL STRUCTURE SNAPSHOT Osisko Development Corp.1,2 Shareholder Ownership Current Share Price (closing price on March 28, 2024) C$2.89 /share 26% Basic Shares Outstanding 84.1 million Institutional 40% Options, DSUs, and RSUs 4.1 million Investors Osisko Gold Warrants3 27.0 million Royalties Full
Slide 8: Cariboo Gold Project
CARIBOO GOLD PROJECT British Columbia, Canada 100% Ownership ODV NYSE TSXV 8 Virtual Tour osiskodev.com
Slide 9: Cariboo Gold Project: Asset Snapshot
CARIBOO GOLD PROJECT: ASSET SNAPSHOT Developing a mining camp in the under-explored Cariboo gold belt LOCATION / OWNERSHIP MINE TYPE METALS STAGE LAND PACKAGE Mosquito Wells 100% ODV BC, Canada Underground Gold Feasibility Study 192,000 ha Silver (Jan-23) Shaft Island Valley Barkerville Mountain NE
Slide 10: Excellent Infrastructure, Accessible Project Location
EXCELLENT INFRASTRUCTURE, ACCESSIBLE PROJECT LOCATION Cow Portal to Lowhee Zone Brand New Roadheader 1. Excavation 3. Bolting with assisted 4. Conveyor with head mechanical arm for loading 2. Extraction with plato Quesnel River Mine (QR Mill) Site 100% owned, fully permitted and operational produced
Slide 11: 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 Q2 ENVIRONMENTAL ASSESSMENT Early Engagement ✓ Detailed Project Description ✓ Submission of Detailed Project Descript
Slide 12: Cariboo Feasibility Study at a Glance
CARIBOO FEASIBILITY STUDY AT A GLANCE1 Feasibility Study Presentation Mine Life First Production Initial Capex Gold Recovered 12 years 2025 (Phase I) C$137 M 1.87 Moz Phase I (1-3); Phase II (4-12) 2028 (Phase II) expansion C$451 M (2.03 Moz Probable Reserves1) Gold Production2 AISC2,3 NPV5% | IRR R
Slide 13: Cariboo Is an Attractive Project in a Tier 1 Jurisdiction
CARIBOO IS AN ATTRACTIVE PROJECT IN A TIER 1 JURISDICTION GRID POWER ACCESSIBLE >$250M EXISTING 6.6¢ per kWh PROJECT LOCATION INFRASTRUCTURE Equipment and fleet Connected via Highway 26 and Fully permitted and functional QR electrification benefitting from located near major towns with mill, equipme
Slide 14: 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 15: Cariboo 2023 Feasibility Study Summary
CARIBOO 2023 FEASIBILITY STUDY SUMMARY Feasibility Study Summary Operating Metrics1 SUMMARY ECONOMIC RESULTS1 (US$1,700/oz Au) Phase 1 Phase 2 LOM (2025 – 2027) (2028 – 2037) (12 years) LOM (12 years) Ore Mined Mt 1.5 15.2 16.7 Total Revenue C$M $4,126 Cumulative Cash Flow (pre-tax)2 C$M $1,192 Thro
Slide 16: Well Positioned Among Canadian UG Mines & Projects
WELL POSITIONED AMONG CANADIAN UG MINES & PROJECTS Cariboo compares favourably relative to existing underground gold operations and projects in Canada Gold Production1 Head Grade1 All-in Sustaining Costs1 (koz Au) (g/t Au) (US$/oz) CDN Malartic (Odyssey) 453 Macassa 16.5 Island (Phase 3) $576 Meadow
Slide 17: Processing Capacity: Expansion Potential
PROCESSING CAPACITY: EXPANSION POTENTIAL CARIBOO GOLD MINE SITE COMPLEX STREAMLINED Phase 1 (years 1-3) Grinding & Flotation Ore Sorting (Phase 2) DESIGN THAT Phase 2 (years 4-12) (Phase 1)1 Expansion Potential ALLOWS SCALING Office, Ore Sorting Warehouse & Garage PROCESSING (Phase 2) (Phase 1) CAPA
Slide 18: 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 19: Ore Sorter Technology: Cariboo Feasibility Study
ORE SORTER TECHNOLOGY: CARIBOO FEASIBILITY STUDY Ore sorting provides significant benefits at low opex of ~$1.00 per tonne feed View the ore sorter technology in action here and here ORE SORTING IS A GREEN TECHNOLOGY Mine Feed Steinert Ore Sorter at Cariboo Site Significant reduction in energy, (3
Slide 20: Up "Grade" Process
UP "GRADE" PROCESS1 Average estimated uncapped length weighted grade of quartz veins in vein corridors2 PHASE I (2025 – 2027) ~11 g/t 4.43 g/t 8.20 g/t 8.20 g/t AVG. GOLD POST-ORE FEED VEIN GRADE2 MINED GRADE SORTING GRADE DILUTION FROM BULK ORE SORTING FLOTATION MINING OF TECHNOLOGY CONCENTRATE LEA
Slide 21: 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 22: Cariboo Exploration Potential at Depth
CARIBOO EXPLORATION POTENTIAL AT DEPTH 2.03 Moz Au at 3.8 g/t Au in Probable Reserves1 >500 m additional depth potential of known vein corridors 1.57 Moz Au at 3.3 g/t Au M&I resources, 1.71 Moz at 3.44 g/t Au adjacent to mine plan untested Inferred Resources with potential to be converted1
Slide 23: A Potential Generational District
A POTENTIAL GENERATIONAL DISTRICT Long Section of Selected Canadian Operating Underground Mines vs. Cariboo Gold OSISKO DEVELOPMENT ALAMOS GOLD AGNICO EAGLE AGNICO EAGLE Cariboo Deposit1 Young-Davidson2 Goldex3,4 LaRonde Zone 53,5 Head Grade (Au) 3.78 g/t 2.20 g/t 1.74 g/t 3.83 g/t Gold Production 1
Slide 24: Cariboo High Grade Drill Results
CARIBOO HIGH GRADE DRILL RESULTS HOLE ID FROM (M) TO (M) LENGTH (M) AU (G/T) TARGET BGM-16-4611 166.80 172.00 5.20 52.59 Cow BGM-16-5532 119.60 123.70 4.10 56.31 Mosquito BM-21-0473 121.00 128.75 7.75 158.40 Lowhee BM-21-0724 213.45 220.95 7.50 50.11 Lowhee CM-21-0975 255.05 265.55 10.50 164.92 Vall
Slide 25: Developing a Mining Camp
DEVELOPING A MINING CAMP Cariboo hosts two main trends over 86 km in combined strike length 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 155,000 ha property with
Slide 26: Tintic Project
TINTIC PROJECT Utah, USA 100% Ownership ODV NYSE TSXV 26 Virtual Tour osiskodev.com
Slide 27: Tintic Project: Asset Snapshot
TINTIC PROJECT: ASSET SNAPSHOT Highly Productive Historical Mining District LOCATION / OWNERSHIP MINE TYPE METALS STAGE LAND PACKAGE 100% ODV Utah, USA Underground Gold, Silver Trixie MRE >17,000 acres of (Q1 2024) Cu, Pb, Zn patented claims1 North Lily Located 95 km south of Salt Lake City, Utah,
Slide 28: Trixie Initial Mineral Resource Estimate ("MRE")
TRIXIE INITIAL MINERAL RESOURCE ESTIMATE ("MRE")1 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) 27.6 MEASURED 120 27.36 61.73 105 238 24.0 19.1 M&I RESOURCES 16.6 INDICATED 125 11.17 5
Slide 29: 2024 vs. 2023 Trixie MRE DSO Comparison
2024 vs. 2023 TRIXIE MRE DSO COMPARISON1 2023 Trixie MRE2 Cross section, Drill results and North South looking North underground mapping from Measured Indicated the 2023 exploration Inferred Long program improved the Section knowledge of the extent Looking and distribution of East Disseminated sto
Slide 30: Trixie UG Ramp Development: 100% Complete
TRIXIE UG RAMP DEVELOPMENT: 100% COMPLETE RAMP DEVELOPMENT: ~1,390 M (4,550 ft.) 3 Historic Mineralized Zones Open at Depth and Strike Complete as of September 2023 756 ORE SHOOT 610 ORE SHOOT SOUTH SURVEY VEIN Enables bulk extraction at higher tonnage by providing Developed over 900 ft. (275
Slide 31: Trixie Exploration Potential
TRIXIE EXPLORATION POTENTIAL 2024 Trixie MRE represents a small footprint of the overall underground potential SOUTH NORTH Trixie MRE 2024 TRIXIE MRE1 440 meter strike length 60 meter width Empire State 195 meter depth building for scale (~4 football fields) Looking East 1. The 2024 Trixie MRE
Slide 32: Drilling and Chip Sampling Highlights
DRILLING AND CHIP SAMPLING HIGHLIGHTS Completed a total of 6,028 m (19,776 ft) of Trixie exploration and delineation drilling in 2023 In 2023, the Company completed a total of 6,028 m Select Chip Sampling Select Drilling (19,776 ft) of underground drilling in 73 diamond drill HOLE ID WIDTH GRADE (
Slide 33: 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 Au-Ag-Cu epithermal veins
Slide 34: Regional Targets: Epithermal Au-Ag
REGIONAL TARGETS: EPITHERMAL 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 structural contro
Slide 35: Regional Targets: Carbonate Replacement Ag-Pb-Zn
REGIONAL TARGETS: CARBONATE REPLACEMENT AG-PB-ZN 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 Ball Park target (Zn-Pb) is located 5000 ft. (1
Slide 36: Regional Targets: Porphyry Cu-Au-Mo Potential
REGIONAL TARGETS: PORPHYRY CU-AU-MO POTENTIAL 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 ~425 Moz silver1 Indicator clay assemblages and elevated Mo and/or Cu geochem
Slide 37: San Antonio Project
SAN ANTONIO PROJECT Sonora, Mexico 100% Ownership ODV NYSE TSXV 37 osiskodev.com
Slide 38: San Antonio Project: Asset Snapshot
SAN ANTONIO PROJECT: ASSET SNAPSHOT Asset Highlights Sonora 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
Slide 39: Appendix
APPENDIX ODV NYSE TSXV 39 osiskodev.com
Slide 40: World-Class Leadership
WORLD-CLASS LEADERSHIP SEAN ROOSEN, CEO ALEXANDER DANN, CFO, CPA, CA • Founding member of Osisko Mining Corporation (2003-2014) • 25 years of experience leading finance operations and strategic • Responsible for developing the strategic plan for the discovery, planning for companies in the mining an
Slide 41: 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 ▪ Positive relationship with Lhtako Dené Nation since 2015. plants to treat contact water and ef
Slide 42: 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 43: San Antonio Mineral Resources
SAN ANTONIO MINERAL RESOURCES 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 – – – – – HIGH LIF
Slide 44: 2024 Trixie Mineral Resources Estimate
2024 TRIXIE MINERAL RESOURCES ESTIMATE GRADE CONTAINED GRADE CONTAINED DOMAIN CATEGORY TONNES (AU G/T) GOLD (OZ) (AG G/T) SILVER (OZ) Measured 22,678 106.27 77,484 115.99 84,572 Indicated 11,939 23.19 8,902 51.07 19,602 T2 M+I 34,617 77.62 86,387 93.60 104,173 Inferred 1,996 9.82 630 61.38 3,938 Mea
Slide 45: Investor Relations Contact
PHILIP RABENOK, DIRECTOR, INVESTOR RELATIONS prabenok@osiskodev.com | +1 (437) 423 3644 ODV NYSE TSXV | osiskodev.com