Osisko Metals Incorporated · TSX:OM
Osisko Metals — Investor Presentation (June 2024)
40 slides from Osisko Metals's investor presentation, June 2024
Slide 1: Canada's Leading Copper-Zinc Developer Corporate Presentation
Gaspé Copper Site Canada’s Leading Copper-Zinc Developer Corporate Presentation June 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 2 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: 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 18: 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 18
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: Copper Mtn – 2022-23 Definition Drilling Program (37,400 metres)
Copper Mtn – 2022-23 Definition Drilling Program (37,400 metres) Copper Mtn. 21
Slide 22: 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 1,473 180 82 27,911 Inferred 0.15 6.3 0.37 0.28 0.019 1.44 39 1
Slide 23: 2024 Indicated Mineral Resource Estimate - Room for Growth
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 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% (Sufide Cu) • Molybdenum Recovery: 65% • Silver Recovery: 70% • Copper Grade in the Concentrate: 24%-28% • Ball Mill BWI 13.5 • Further testing planned for 2024 25
Slide 26: 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 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 Sk
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. • Measured will be taken by Osisko Metals to mitigate noise pollutio
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 (A 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