Osisko Metals Incorporated · TSX:OM
Osisko Metals — Investor Presentation (May 2025)
24 slides from Osisko Metals's investor presentation, May 2025
Slide 1: Canada’s Leading Copper Development Company
Canada’s Leading Copper Development Company May 2025 TSXV: OM | OTCQX: OMZNF | FRA: 0B51
Slide 2: Forward-looking statements and cautionary notes regarding technical information
Forward-looking statements and cautionary notes regarding technical information This presentation (the "Presentation") contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These “forward-looking information” are based on the expectations, estimates
Slide 3: Gaspé Copper: one of North America’s largest undeveloped copper projects
Gaspé Copper: one of North America’s largest undeveloped copper projects with infrastructure in place Strategic off-take partner GASPÉ COPPER PROJECT Current in-pit resource* • Indicated: 824 Mt @ 0.34% CuEq • Inferred: 670 Mt @ 0.38% CuEq *see NI43-101 compliant table in Appendix TSXV: OM | OTCQX:
Slide 4: Experienced Canadian mining team with track record of delivering shareholder returns
Experienced Canadian mining team with track record of delivering shareholder returns JOHN BURZYNSKI ROBERT WARES DONALD NJEGOVAN EXECUTIVE CHAIRMAN CHIEF EXECUTIVE OFFICER PRESIDENT CANADIAN MALARTIC: 20M oz Au MARBAN: 3M oz Au WINDFALL: 8M oz Au Canada’s largest Canadian Malartic Quebec’s highest g
Slide 5: Institutions and strategic investors own approximately 80% of the shares outstanding
Institutions and strategic investors own approximately 80% of the shares outstanding TSXV: OM | OTCQX: OMZNF | FRA: 0B51 RESEARCH COVERAGE Shares outstanding 609.6M Canaccord Genuity Market capitalization C$232M Peter Bell, Steve Searles Cash C$100M Glencore convertible debenture C$40M Hannam & Part
Slide 6: Gaspé Copper 2025: minimum 110,000 metre drill program
Gaspé Copper 2025: minimum 110,000 metre drill program Fully-funded 110,000-metre drill program with 7 rigs turning aimed at: • converting existing resources into the indicated and measured resource categories • testing potential expansion of the resources: o to 250 metres below the current resource
Slide 7: 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 Porphyry Mtn. Oxide Stockpiles Copper Mtn. Pit Copper Mtn. Former Smelter Location Garages and Water Treatment Administration Plant Buildings TSXV: OM | OTCQX: OMZNF | FRA: 0B51 7
Slide 8: 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 $4.67/lb 6.00 5.00 4.00 3.00 Mine closed at $0.65/lb copper 2.00 1.00 0.00 May 1990 May 1995 May 2000 May 2005 May 2010 May 2015 May 2020 May 2025 copper pr
Slide 9: Gaspé Copper Geology: Geological Cross Section (Looking NW)
Gaspé Copper Geology Geological Cross Section (Looking NW) FALL 2024 MRE INDICATED 824 Mt @ 0.34% CuEq SPRING 2024 MRE INFERRED 670 Mt @ 0.38% CuEq C Zone E Zone 2025 Drill program to Porphyry Mtn deposit: confirm and expand Underground bulk- the resource tonnage potential from 1994 discovery 9 9 TS
Slide 10: Gaspé Copper Geology: 3D view of 2024 resource model and current drilling
Gaspé Copper Geology: 3D view of 2024 resource model and current drilling (looking west) 2024 Resource Wireframe (824 Mt Indicated and 670 Mt Inferred at approx. 0.36% Cu Eq (see appendix) Mineralized DDH trace (white) Intersections (red) TSXV: OM | OTCQX: OMZNF | FRA: 0B51 10
Slide 11: Metal recoveries de-risked thanks to 44-year production history and 2024 metallurgical tests
Metal recoveries de-risked thanks to 44-year production history and superior results on 2024 metallurgical tests Initial metallurgical tests point to potential production of clean copper and molybdenum concentrates with excellent metal grades: • 92%—94% copper recoveries with concentrate grades of 2
Slide 12: A responsible mining project focused on sustainable development and respect for host communities
A responsible mining project focused on sustainable development and respect for host communities Key strategies include: • Implementing comprehensive engagement strategies for local communities, First Nations, and other stakeholders • Government of Québec leading a pilot project designed to maximize
Slide 13: A seven-year timeline to potential mine start-up
A seven-year timeline to potential mine start-up 2032 2022-2024 2025-2028 2029 2030-2031 •Potential start ✓ July 2023: • Environmental and • Public hearings • Project •of production closing of Gaspé socio-economic impact • Permit issuance financing Copper acquisition studies • Final investment and ✓
Slide 14: World-class copper assets: Gaspé Copper compares favourably and has room to grow
World-class copper assets: Gaspé Copper compares favourably and has room to grow Copper Resources (Cu Blbs) & Grade (M&I % Cu) Source: Canaccord Genuity, Company Disclosures, CapIQ NAME STAGE LOCATION OPERATOR MARKET CAP (C$M)1 1 Market data as of May 5, 2025 TSXV: OM | OTCQX: OMZNF | FRA: 0B51 14
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 finance
Slide 16: Appendices
Appendices TSXV: OM | OTCQX: OMZNF | FRA: 0B51 16
Slide 17: 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 18: 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 19: Several large-scale, multi-decade deposits are trading at discounted valuations
Several large-scale, multi-decade deposits are trading at discounted valuations and poised for a re-rating Copper EV/lb vs. grade and total resource | Bubble size = M&I + Inferred Resource $0.150 MARI Average takeout for copper developer transactions in North and South America from 2015 to present:
Slide 20: Canadian copper assets: Reserves and Resources
Canadian copper assets: Reserves and Resources Highland Valley Gaspé Copper Copper Mountain (Teck) (Osisko Metals) (Hudbay) Grade Contained Cu Grade Contained Cu Grade Contained Cu Cu % (M lbs) Cu % (M lbs) Cu % (M lbs) P&P 0.30 2,033 – – 0.25 2,022 M&I 0.28 6,950 0,.27 4,807 0.21 639 Inferred 0.22
Slide 21: Less than 100 kilometres by paved highway to deep sea port in Gaspé
Less than 100 kilometres by paved highway to deep sea port in Gaspé: lower average shipping costs than peers TSXV: OM | OTCQX: OMZNF | FRA: 0B51 21
Slide 22: Less than 100 kilometres from Murdochville to Gaspé, a deep sea port
Less than 100 kilometres from Murdochville to Gaspé, a deep sea port TSXV: OM | OTCQX: OMZNF | FRA: 0B51 22
Slide 23: Closing thought
Closing thought Gaspé Copper has the potential to become a long-lived, major open pit mine that could rival Teck’s Highland Valley operation in BC and be considerably larger than the Canadian Malartic mine, discovered and developed by the Osisko team between 2005-2014. Canadian Malartic pit 2024 TSX
Slide 24: www.osiskometals.com
www.osiskometals.com TSXV: OM | OTCQX: OMZNF | FRA: 0B51 24