Osisko Development Provides Infill Drilling Update on its 13,000-Meter Lowhee Program at Cariboo Gold Project; Intercepts Include 596.40 g/t Gold Over 2.0 Meters From 6.1 Meters Downhole, Including 2,293.56 g/t Gold Over 0.5 Meters From 6.6 Meters Downhole
 

HIGHLIGHTS

 

-          11,025 m of infill drilling completed (5,043 m new results) on 10-m drill spacing in 116 drill holes from August 2025 representing ~80% of the total planned ~13 km infill program

-          Highlight intercepts include: 596.40 g/t Au over 2.0 m from 6.1 m downhole (including 2,293.56 g/t Au over 0.5 m from 6.6 m downhole), 21.67 g/t Au over 3.5 m from 96.5 m downhole (including 135.44 g/t Au over 0.5 m from 99.5 m downhole), and 21.97 g/t Au over 2.5 m from 48.7 m downhole

-          Results to date continue to contribute to a more detailed understanding of spatial controls and local variability of the Lowhee Zone

-          An aggregate total of ~12.1 km (~88%) of total planned drill meters have been completed to date, with full assays and QA/QC pending for the remaining, unreported holes

-          Infill program anticipated to conclude in early Q2 2026

 

Montreal, Québec, February 11, 2026 – Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") (- https://www.commodity-tv.com/play/osisko-development-project-financing-in-place-for-big-gold-project-in-canada-with-upscale-potential/ -)  is pleased to announce new infill drilling results from its ongoing 13,000-meter program on 10 meter drill spacing that commenced in August 2025 in the Lowhee Zone of the Company's permitted, 100%-owned Cariboo Gold Project ("Cariboo" or the "Project"), located in central British Columbia ("B.C."), Canada. The six drill hole fans reported herein comprise an additional ~5,043 meters ("m") of underground infill drilling, bringing the total tally of drilling with full results to 11,025 m, or ~80% of the planned total.

 

Chris Lodder, President, stated, "This tighter drill spacing gives us a better understanding of vein corridor spatial geometries and local variability specific to this part of the Lowhee deposit, while reinforcing the importance of continued drilling in underexplored zones. As this work concludes, the resulting information is expected to help refine infill drill requirements and production designs and sequencing in the Lowhee Deposit of the Cariboo Gold Project."

 

In total, an aggregate of approximately 12.1 kilometres ("km"), representing ~88% of the total planned drill meters, has now been completed. Full assay results and associated quality assurance and quality control reviews are pending for the remaining holes not reported herein. Infill drilling activities were suspended following the incident reported on January 23, 2026, with the program now anticipated to conclude in early Q2 2026.

 

DRILL ASSAY HIGHLIGHTS

 

This news release includes assays from fifty-four (54) underground infill HQ diamond drill ("DD") holes (63.5-millimeter diameter) totaling 5,043 m with depths ranging from 51 to 117 m completed between mid-October 2025 and December 2025 (see Table 1). Assays for six (6) complete drill fans were received by January 11, 2026 (Figure 2). Select photon assay highlights include:

 

-          596.40 ("g/t") gold ("Au") over 2.0 m in BMU-25-132 from 6.1 m downhole, including:

  • 2,293.56 g/t over 0.5 m from 6.6 m downhole, and
  • 90.95 g/t over 0.5 m from 7.6 m downhole

-          21.67 g/t over 3.5 m in BMU-25-145 from 96.5 m downhole, including:

  • 135.44 g/t over 0.5 m from 99.5 m downhole, and
  • 11.88 g/t over 0.6 m from 97.0 m downhole

-          21.97 g/t over 2.5 m in BMU-25-174 from 48.7 m downhole, including:

  • 88.08 g/t over 0.5 m from 49.7 m downhole, and
  • 20.91 g/t over 0.5 m from 50.2 m downhole

-          9.21 g/t over 4.9 m in BMU-25-157 from 53.9 m downhole, including:

  • 39.26 g/t over 0.5 m from 54.9 m downhole, and
  • 19.10 g/t over 0.5 m from 55.9 m downhole, and
  • 15.95 g/t over 0.5 m from 55.4 m downhole, and
  • 6.88 g/t over 1.0 m from 53.9 m downhole

-          10.57 g/t over 4.8 m in BMU-25-157 from 84.9 m downhole, including:

  • 95.61 g/t over 0.5 m from 88.7 m downhole, and
  • 2.84 g/t over 0.5 m from 80.0 m downhole

-          10.48 g/t over 4.0 m in BMU-25-140 from 11.0 m downhole, including:

  • 54.01 g/t over 0.5 m from 12.4 m downhole, and
  • 28.34 g/t over 0.5 m from 11.9 m downhole

-          6.91 g/t over 4.5 m in BMU-25-145 from 90.0 m downhole, including:

  • 52.35 g/t over 0.5 m from 92.5 m downhole, and
  • 2.36 g/t over 0.7 m from 90.5 m downhole, and
  • 2.78 g/t over 0.5 m from 90.0 m downhole, and
  • 2.10 g/t over 0.5 m from 92.0 m downhole

-          5.94 g/t over 4.7 m in BMU-25-163 from 41.1 m downhole, including:

  • 18.91 g/t over 0.5 m from 43.65 m downhole, and
  • 14.44 g/t over 0.65 m from 45.15 m downhole, and
  • 8.94 g/t over 0.8 m from 42.0 m downhole, and
  • 2.47 g/t over 0.5 m from 44.15 m downhole

-          15.75 g/t over 1.95 m in BMU-25-148 from 108.1 m, including:

  • 30.84 g/t over 0.7 m from 108.1 m downhole, and
  • 11.18 g/t over 0.75 m from 109.3 m downhole

-          10.46 g/t over 3.0 m in BMU-25-134 from 81.4 m, including:

  • 51.40 g/t over 0.5 m from 82.9 m downhole, and
  • 8.10 g/t over 0.5 m from 81.4 m downhole

 

Complete assay highlights, including true width estimates, are presented in Table 1 and drill hole locations and orientations are listed in Table 2. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays.

 

DISCUSSION OF RESULTS

 

-          Based on the results observed to date, the above cut-off assay composites show a general spatial correlation with the modelled reserve stopes. Individual intercepts are not expected to align precisely with the modelled areas, and a degree of variability within the vein corridors is both anticipated and acceptable as tighter spaced infill drilling informs a refinement of the local reserve model. This work is one of the key objectives of the ongoing program.

-          Occurrences of above cut-off assays are also being observed in areas not previously included in the reserve model, suggesting potential for upside mineralization. These intervals will be incorporated in the planned remodelling and mineral resource calculation process to determine their implications on the updated local block model and any potential adjustments to planned reserve stopes. In certain areas, this may support the addition of new planned reserve stopes, subject to the final estimation process outcome.

-          A spatial offset of certain intercepts when compared to the modelled vein corridors and mineral reserve stope shapes is evident in the cross sections. This reflects, in part, the lower spatial accuracy of the surface-based drill hole data compared to underground drilling, which carries higher survey precision, as well as the more oblique angles of intercepts that the surface-based drill holes have with the vein planes. These factors will be accounted for in the vein corridor remodelling process to be undertaken upon conclusion of this program and will serve as an important operational template for future infill drilling used in production stope design.

 

Figure 1: Cariboo Gold Project deposit map with Location of Lowhee Zone and Cow Portal underground access.

 

Figure 2: Location and overview of the ongoing 13,000-meter infill drilling campaign.

 

Figure 3: Lowhee Zone infill select underground drilling highlights (plan view).

 

Figure 4: Lowhee Zone infill select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan.

 

  

 

 

  

 

 

 

 

 

Table 1: Length weighted assay composites and individual samples>=1.8 g/t for Lowhee Zone underground DD.

Drillhole ID

 

From (m)

To (m)

Length (m)

Au (g/t)

Est. True Width (m)

BMU-25-115

 

20.65

21.65

1

1.91

0.79

 

Including

21.15

21.65

0.5

2.35

 

 

 

28.65

29.3

0.65

2.93

0.53

 

 

35.5

36.4

0.9

2.09

0.74

 

 

39

39.5

0.5

2.93

0.43

 

 

80.05

81.3

1.25

2.10

0.99

 

Including

80.05

80.8

0.75

2.21

 

 

and

80.8

81.3

0.5

1.95

 

 

 

100.5

101.3

0.8

2.27

0.66

BMU-25-119

 

19.95

20.45

0.5

2.38

0.47

 

 

73

73.5

0.5

2.91

0.38

 

 

101.3

102

0.7

3.79

0.67

BMU-25-122

 

19.4

19.9

0.5

3.35

0.50

 

 

48

48.55

0.55

2.49

0.53

 

 

55.5

56.8

1.3

2.64

1.02

 

Including

56.3

56.8

0.5

6.42

 

BMU-25-123

 

17.5

18

0.5

2.27

0.41

 

 

18.5

19

0.5

2.95

0.38

 

 

55

57.5

2.5

1.86

2.05

 

Including

55.7

56.4

0.7

6.14

 

 

 

91.3

91.8

0.5

2.20

0.35

BMU-25-125

 

33.5

34

0.5

2.44

0.50

 

 

36.15

36.65

0.5

2.11

0.49

BMU-25-127

 

No Significant Assays

 

 

 

BMU-25-128

 

12.45

16.6

4.15

1.84

3.59

 

Including

14.5

15

0.5

10.73

 

 

 

44

45

1

3.59

0.94

 

 

79

80

1

1.97

0.91

 

 

81.5

82

0.5

2.60

0.45

 

 

89

89.5

0.5

2.72

0.45

BMU-25-130

 

41.6

43.2

1.6

4.75

1.45

 

Including

42.2

42.7

0.5

3.09

 

 

and

42.7

43.2

0.5

11.98

 

BMU-25-131

 

12.75

14.6

1.85

2.20

1.60

 

Including

12.75

13.25

0.5

7.34

 

 

 

55.75

56.25

0.5

2.54

0.38

 

 

59.6

60.1

0.5

3.86

0.43

 

 

61.4

62.2

0.8

4.35

0.75

 

 

74.5

75.5

1

2.08

0.94

 

Including

74.5

75

0.5

1.90

 

 

and

75

75.5

0.5

2.26

 

 

 

86

86.5

0.5

2.07

0.45

BMU-25-132

 

6.1

8.1

2

596.40

1.81

 

Including

6.6

7.1

0.5

2293.56

 

 

and

7.6

8.1

0.5

90.95

 

 

 

52.45

54

1.55

2.47

1.50

 

 

53.5

54

0.5

7.04

0.49

BMU-25-133

 

48.55

49.55

1

2.84

1.00

 

Including

48.55

49.05

0.5

5.58

 

 

 

53

54

1

2.80

0.94

BMU-25-134

 

5.3

6.75

1.45

2.19

1.19

 

Including

5.3

6

0.7

3.81

 

 

 

29.5

30.05

0.55

9.64

0.45

 

 

34.5

35

0.5

3.50

0.45

 

 

50.8

52.3

1.5

4.78

1.36

 

Including

51.3

51.8

0.5

12.83

 

 

 

81.4

84.4

3

10.46

2.49

 

Including

81.4

81.9

0.5

8.10

 

 

and

82.9

83.4

0.5

51.40

 

 

 

94.5

96.1

1.6

2.28

1.35

 

Including

95

95.6

0.6

3.03

 

 

and

95.6

96.1

0.5

3.50

 

BMU-25-135

 

1

1.5

0.5

1.83

0.37

 

 

6.25

6.75

0.5

44.15

0.41

 

 

36

36.75

0.75

4.40

0.61

 

 

38.45

38.95

0.5

4.34

0.44

 

 

80.9

81.4

0.5

11.61

0.45

 

 

87

88

1

9.08

0.82

BMU-25-136

 

No Significant Assays

 

 

 

BMU-25-137

 

1.65

5

3.35

2.08

2.97

 

Including

2.5

3

0.5

2.45

 

 

and

3

4

1

5.32

 

 

 

11

14.15

3.15

5.02

2.58

 

Including

13.65

14.15

0.5

29.90

 

BMU-25-138

 

6.4

7.1

0.7

2.52

0.49

 

 

46.2

47.2

1

2.09

0.71

 

Including

46.2

46.7

0.5

3.89

 

 

 

82.4

82.9

0.5

10.49

0.25

 

 

84.8

85.3

0.5

2.45

0.47

 

 

104.2

106.1

1.9

1.80

1.51

 

Including

104.7

105.4

0.7

4.24

 

BMU-25-139

 

33

33.5

0.5

2.63

0.48

 

 

47.65

48.15

0.5

3.02

0.47

 

 

56.5

59

2.5

3.27

2.46

 

Including

56.5

57

0.5

3.32

 

 

and

57.5

58

0.5

12.78

 

 

 

60.1

62.2

2.1

2.99

2.07

 

Including

60.1

60.6

0.5

8.54

 

 

and

60.6

61.2

0.6

3.17

 

 

 

66.35

67.35

1

2.16

1.00

 

Including

66.85

67.35

0.5

4.14

 

 

 

72

72.5

0.5

2.53

0.43

BMU-25-140

 

11

15

4

10.48

3.28

 

Including

11.9

12.4

0.5

28.34

 

 

and

12.4

12.9

0.5

54.01

 

 

 

61.3

65

3.7

1.85

3.20

 

Including

63.3

64

0.7

6.49

 

BMU-25-141

 

11

12

1

1.94

0.91

 

 

40.5

45.1

4.6

2.50

3.77

 

Including

43.5

44.1

0.6

16.47

 

 

 

69.8

70.5

0.7

2.22

0.59

 

 

106.7

108.7

2

1.82

1.88

 

Including

108.2

108.7

0.5

6.40

 

BMU-25-142

 

32.8

33.3

0.5

2.99

0.47

 

 

52.2

52.7

0.5

3.89

0.43

 

 

54.5

55

0.5

6.93

0.48

 

 

60.25

61.75

1.5

2.98

1.45

 

Including

60.25

60.75

0.5

3.62

 

 

and

61.25

61.75

0.5

4.93

 

 

 

80.6

81.1

0.5

18.53

0.49

 

 

83.5

84

0.5

3.41

0.49

BMU-25-143

 

No Significant Assays

 

 

 

BMU-25-144

 

47

48

1

2.60

0.64

 

Including

47

47.5

0.5

4.71

 

 

 

86

86.5

0.5

1.95

0.38

 

 

101

102

1

6.41

0.89

 

Including

101

101.5

0.5

12.59

 

BMU-25-145

 

36

36.5

0.5

6.09

0.48

 

 

55.5

57.1

1.6

13.58

1.45

 

Including

55.5

56.1

0.6

22.90

 

 

and

56.6

57.1

0.5

15.97

 

 

 

60

63.05

3.05

2.22

2.87

 

Including

60

60.5

0.5

8.15

 

 

and

61

61.6

0.6

2.50

 

 

 

64.55

67.5

2.95

1.97

2.74

 

Including

64.55

65.05

0.5

3.85

 

 

and

65.05

66

0.95

2.24

 

 

and

67

67.5

0.5

3.34

 

 

 

90

94.5

4.5

6.91

3.97

 

Including

90

90.5

0.5

2.78

 

 

and

90.5

91.2

0.7

2.36

 

 

and

92

92.5

0.5

2.10

 

 

and

92.5

93

0.5

52.35

 

 

 

96.5

100

3.5

21.67

3.23

 

Including

97

97.6

0.6

11.88

 

 

and

99.5

100

0.5

135.44

 

 

 

101.5

102

0.5

5.63

0.43

BMU-25-146

 

2.75

3.4

0.65

2.77

0.56

 

 

15

17.6

2.6

4.05

2.44

 

Including

15

15.5

0.5

11.90

 

 

and

15.5

16.1

0.6

6.73

 

BMU-25-147

 

3.5

4.5

1

3.79

0.98

 

Including

3.5

4

0.5

5.01

 

 

and

4

4.5

0.5

2.57

 

BMU-25-148

 

19.8

22.5

2.7

3.92

2.54

 

Including

20.5

21

0.5

16.72

 

 

and

21.5

22.5

1

1.94

 

 

 

59.5

60

0.5

2.55

0.41

 

 

68.7

69.2

0.5

7.79

0.44

 

 

91.35

91.85

0.5

2.14

0.41

 

 

101.5

102.5

1

2.30

0.79

 

Including

101.5

102

0.5

2.33

 

 

and

102

102.5

0.5

2.26

 

 

 

108.1

110.05

1.95

15.75

1.69

 

Including

108.1

108.8

0.7

30.84

 

 

and

109.3

110.05

0.75

11.18

 

 

 

112.1

112.6

0.5

3.41

0.41

BMU-25-149

 

19

20

1

2.30

0.82

 

Including

19

19.5

0.5

4.35

 

 

 

43.5

44

0.5

11.90

0.44

 

 

50

53.55

3.55

3.43

3.50

 

Including

53.05

53.55

0.5

21.45

 

BMU-25-150

 

No Significant Assays

 

 

 

BMU-25-151

 

17.5

18.5

1

2.00

0.88

BMU-25-152

 

2.6

4.1

1.5

5.77

1.45

 

Including

3.1

3.6

0.5

16.74

 

 

 

19.7

22.45

2.75

7.31

2.58

 

Including

19.7

20.2

0.5

22.08

 

 

and

21.3

21.85

0.55

1.97

 

 

and

21.85

22.45

0.6

12.89

 

 

 

29

29.5

0.5

5.78

0.46

 

 

45

47

2

2.22

1.73

 

Including

45

45.5

0.5

5.46

 

 

 

56.5

57.5

1

2.25

0.82

 

Including

56.5

57

0.5

3.97

 

BMU-25-153

 

2.1

2.6

0.5

2.20

0.38

BMU-25-154

 

49.5

50.5

1

1.90

0.91

 

Including

50

50.5

0.5

2.65

 

BMU-25-155

 

4

4.5

0.5

3.26

0.41

 

 

21.9

24.9

3

2.36

2.43

 

Including

23.9

24.4

0.5

11.93

 

 

 

48.4

48.9

0.5

4.25

0.43

 

 

54

55

1

18.42

0.82

 

Including

54

54.5

0.5

36.46

 

 

 

57.7

60.2

2.5

8.60

1.92

 

Including

58.2

59.2

1

17.20

 

 

and

59.2

59.7

0.5

7.56

 

BMU-25-156

 

1.7

2.2

0.5

2.15

0.46

 

 

35.8

36.3

0.5

1.926

0.32

 

 

38.7

40.7

2

2.10

1.73

 

Including

38.7

39.2

0.5

3.22

 

 

and

39.2

39.7

0.5

4.09

 

 

 

55.65

57.4

1.75

2.92

1.43

 

Including

56.4

56.9

0.5

2.99

 

 

and

56.9

57.4

0.5

6.46

 

 

 

71.35

71.85

0.5

6.50

0.43

 

 

74.3

75.3

1

19.53

0.71

 

Including

74.3

74.8

0.5

38.30

 

BMU-25-157

 

1.85

3.5

1.65

6.96

1.17

 

Including

2.35

2.85

0.5

21.49

 

 

 

39.5

41.9

2.4

6.95

1.70

 

Including

40

40.9

0.9

15.22

 

 

and

40.9

41.4

0.5

4.92

 

 

 

53.9

58.8

4.9

9.21

4.01

 

Including

53.9

54.9

1

6.88

 

 

and

54.9

55.4

0.5

39.26

 

 

and

55.4

55.9

0.5

15.95

 

 

and

55.9

56.4

0.5

19.10

 

 

and

68.5

69.4

0.9

2.57

 

 

 

77.55

81

3.45

5.83

2.33

 

Including

78.05

79.05

1

14.58

 

 

and

79.05

79.55

0.5

5.63

 

 

and

79.55

80.05

0.5

4.45

 

 

 

84.9

89.7

4.8

10.57

3.39

 

Including

87

87.5

0.5

2.84

 

 

and

88.7

89.2

0.5

95.61

 

 

 

99

105.4

6.4

3.14

4.53

 

Including

102.8

103.45

0.65

1.97

 

 

and

104.45

105.4

0.95

17.59

 

BMU-25-158

 

2

6.3

4.3

2.00

2.88

 

Including

5.3

5.8

0.5

15.10

 

 

 

61

62.9

1.9

2.08

1.34

 

Including

62.4

62.9

0.5

7.47

 

BMU-25-159

 

75.8

76.35

0.55

22.39

0.50

 

 

89

92

3

5.14

2.46

 

Including

90.25

90.75

0.5

29.46

 

 

 

99.25

99.75

0.5

5.01

0.35

BMU-25-160

 

18

20

2

1.95

1.73

 

 

19

20

1

3.35

 

 

 

35

37.6

2.6

2.62

2.25

 

Including

35

36

1

2.19

 

 

and

36

36.5

0.5

9.05

 

 

 

102.55

104.9

2.35

1.94

1.73

 

Including

102.55

103.05

0.5

4.78

 

 

and

104

104.9

0.9

1.98

 

 

 

106.4

107.4

1

1.94

0.71

 

Including

106.4

106.9

0.5

2.35

 

 

 

108.7

109.2

0.5

1.96

0.38

BMU-25-161

 

2.35

3.35

1

2.11

 

 

Including

2.35

2.85

0.5

3.03

 

 

 

6

13.3

7.3

1.91

6.86

 

Including

6.5

7

0.5

3.71

 

 

and

8.5

9

0.5

4.37

 

 

and

9.4

10.15

0.75

2.69

 

 

and

10.15

11.15

1

5.57

 

 

 

50.4

51.4

1

2.36

0.98

 

Including

50.9

51.4

0.5

4.29

 

 

 

71.5

73

1.5

2.50

1.41

 

Including

72

72.5

0.5

6.32

 

BMU-25-162

 

17.75

18.75

1

2.02

0.91

 

Including

17.75

18.25

0.5

2.83

 

 

 

30

36.15

6.15

2.02

5.04

 

Including

30

30.5

0.5

6.44

 

 

and

32.8

33.3

0.5

5.23

 

 

and

35.65

36.15

0.5

11.63

 

BMU-25-163

 

2.9

3.4

0.5

6.64

0.49

 

 

5.4

6.4

1

9.61

0.82

 

Including

5.9

6.4

0.5

18.94

 

 

 

15.9

17.5

1.6

2.21

1.47

 

Including

15.9

16.4

0.5

4.32

 

 

 

41.1

45.8

4.7

5.94

4.58

 

Including

42

42.8

0.8

8.94

 

 

and

43.65

44.15

0.5

18.91

 

 

and

44.15

44.65

0.5

2.47

 

 

and

45.15

45.8

0.65

14.44

 

BMU-25-164

 

36.55

40.3

3.75

1.99

3.62

 

Including

36.55

37.05

0.5

4.43

 

 

and

37.05

37.55

0.5

9.15

 

BMU-25-165

 

2.75

10.7

7.95

2.06

7.92

 

Including

3.75

4.25

0.5

6.08

 

 

and

5.75

6.25

0.5

11.01

 

 

and

7.25

7.75

0.5

1.89

 

 

and

8.55

9.2

0.65

1.92

 

 

and

10

10.7

0.7

4.60

 

 

 

38.5

42

3.5

2.01

3.29

 

Including

41.5

42

0.5

11.24

 

 

 

60.7

61.2

0.5

2.64

0.47

 

 

67.5

68.5

1

2.02

1.00

 

Including

67.5

68

0.5

2.80

 

 

 

69.5

70.6

1.1

6.62

1.10

 

Including

69.5

70.1

0.6

11.91

 

BMU-25-166

 

15.5

18

2.5

2.08

2.38

 

Including

17

18

1

4.93

 

 

 

30.75

31.25

0.5

5.86

0.43

 

 

35

38

3

2.80

2.75

 

Including

35

36

1

5.86

 

 

and

36.5

37

0.5

3.58

 

 

 

43.5

45.5

2

2.67

1.41

 

Including

43.5

44

0.5

1.91

 

 

and

44

44.5

0.5

6.23

 

 

and

45

45.5

0.5

2.40

 

BMU-25-168

 

3

4.8

1.8

7.76

1.79

 

Including

3

3.5

0.5

1.97

 

 

and

4

4.8

0.8

16.21

 

 

 

15.5

19

3.5

2.40

3.49

 

Including

17.5

18.15

0.65

10.70

 

 

 

33

33.5

0.5

4.69

0.49

 

 

36

40.2

4.2

2.42

4.14

 

Including

37.5

38.1

0.6

6.79

 

 

and

38.1

38.6

0.5

4.99

 

 

and

38.6

39.2

0.6

3.03

 

 

and

44.5

45.2

0.7

3.05

 

 

 

48.25

50

1.75

1.87

1.52

 

Including

48.25

49

0.75

3.56

 

 

 

52.5

53

0.5

2.03

0.50

 

 

54

55.5

1.5

9.68

1.45

 

Including

54

54.5

0.5

8.59

 

 

and

54.5

55

0.5

19.69

 

 

 

65

66

1

2.37

0.97

 

Including

65.5

66

0.5

3.19

 

 

 

68.5

69.5

1

2.51

0.98

 

Including

68.5

69

0.5

4.62

 

BMU-25-169

 

33.1

33.6

0.5

2.18

0.48

 

 

38.1

39.1

1

6.56

0.77

 

 

38.1

38.6

0.5

6.18

 

 

 

38.6

39.1

0.5

6.94

 

 

 

40.1

40.6

0.5

1.91

0.50

BMU-25-171

 

2.5

4

1.5

5.27

1.30

 

Including

2.5

3

0.5

3.44

 

 

and

3

3.5

0.5

10.60

 

 

 

14

15

1

4.66

0.98

 

Including

14.5

15

0.5

8.28

 

 

 

17.5

18.5

1

2.05

0.98

 

Including

18

18.5

0.5

3.59

 

 

 

34.25

34.75

0.5

6.55

0.43

 

 

36.5

37.5

1

11.58

0.97

 

Including

36.5

37

0.5

20.44

 

 

and

37

37.5

0.5

2.71

 

 

 

39

40.5

1.5

4.21

1.48

 

Including

39

39.5

0.5

6.84

 

 

and

40

40.5

0.5

5.72

 

 

 

46

49

3

9.07

2.82

 

Including

46

46.5

0.5

9.71

 

 

and

47

47.5

0.5

2.70

 

 

and

47.5

48

0.5

40.36

 

 

 

67.7

69.5

1.8

5.11

1.69

 

Including

68.5

69

0.5

16.17

 

 

and

69

69.5

0.5

1.89

 

BMU-25-172

 

26.5

27

0.5

5.80

0.32

 

 

41.85

44.35

2.5

2.10

2.35

 

Including

42.35

42.85

0.5

2.39

 

 

and

42.85

43.35

0.5

6.43

 

 

 

46

48.5

2.5

2.27

2.35

 

Including

46.5

47

0.5

10.23

 

BMU-25-174

 

14.7

16.2

1.5

12.03

1.15

 

Including

14.7

15.2

0.5

35.79

 

 

 

35.5

36.3

0.8

17.77

0.73

 

 

48.7

51.2

2.5

21.97

2.35

 

Including

49.7

50.2

0.5

88.08

 

 

and

50.2

50.7

0.5

20.91

 

BMU-25-175

 

No Significant Assays

 

 

 

BMU-25-177

 

15.5

17.1

1.6

6.06

1.03

 

Including

15.5

16.1

0.6

11.67

 

 

and

16.1

16.6

0.5

5.26

 

 

 

38

38.5

0.5

3.12

0.48

 

 

70.5

71.05

0.55

2.44

0.48

BMU-25-178

 

No Significant Assays

 

 

 

BMU-25-180

 

17

18.5

1.5

2.06

1.30

 

Including

17

18

1

3.02

 

 

 

28.5

29.1

0.6

3.73

0.42

 

 

81.65

82.5

0.85

18.07

0.60

BMU-25-181

 

39

43

4

5.43

2.83

 

Including

41

42

1

20.67

 

 

and

47.3

48

0.7

2.54

 

 

 

51.7

55.7

4

1.85

3.15

 

Including

51.7

52.2

0.5

7.41

 

 

and

52.7

53.2

0.5

1.84

 

 

and

53.7

54.3

0.6

1.90

 

 

and

55

55.7

0.7

1.86

 

 

Table 2: Underground DD collar locations, drillhole orientations, and max depths. Negative dips point down.

 

Hole ID

Mine Location

Easting

(UTM z12N)

Northing

(UTM z 12N)

Elevation

(m)

Dip

Azimuth

Depth

(m)

BMU-25-115

L1260-ORE-DBY-003-DBY-012

596445.8

5882735.4

1264.4

35.0

125.3

114.0

BMU-25-119

L1260-ORE-DBY-003-DBY-012

596445.3

5882735.8

1263.5

25.0

124.8

102.0

BMU-25-122

L1260-ORE-DBY-003-DBY-012

596445.4

5882735.7

1263.1

15.0

125.1

96.0

BMU-25-123

L1260-ORE-DBY-003-DBY-003

596493.8

5882811.7

1257.1

-45.2

124.8

114.0

BMU-25-125

L1260-ORE-DBY-003-DBY-012

596445.3

5882735.8

1262.6

4.9

125.1

84.0

BMU-25-127

L1260-ORE-DBY-003-DBY-012

596445.5

5882735.8

1262.2

-5.0

125.0

81.0

BMU-25-128

L1260-ORE-DBY-003-DBY-003

596493.8

5882811.7

1257.5

-35.0

125.1

99.0

BMU-25-130

L1260-ORE-DBY-003-DBY-012

596445.7

5882735.7

1261.8

-14.9

125.2

84.0

BMU-25-131

L1260-ORE-DBY-003-DBY-003

596493.9

5882811.8

1257.8

-25.1

125.3

96.0

BMU-25-132

L1260-ORE-DBY-003-DBY-012

596445.7

5882735.7

1261.3

-25.0

125.0

90.0

BMU-25-133

L1260-ORE-DBY-003-DBY-003

596494.0

5882812.5

1258.1

-15.0

124.7

56.5

BMU-25-134

L1260-ORE-DBY-003-DBY-009

596463.3

5882760.1

1263.0

34.8

125.3

114.0

BMU-25-135

L1260-ORE-DBY-003-DBY-012

596445.5

5882735.8

1261.0

-35.0

124.6

99.0

BMU-25-136

L1260-ORE-DBY-003-DBY-003

596494.5

5882812.1

1258.3

-5.0

124.7

51.0

BMU-25-137

L1260-ORE-DBY-003-DBY-009

596463.6

5882759.9

1262.2

25.0

125.0

102.0

BMU-25-138

L1260-ORE-DBY-003-DBY-012

596445.5

5882736.0

1260.9

-44.9

124.5

114.0

BMU-25-139

L1260-ORE-DBY-003-DBY-003

596494.4

5882812.2

1258.7

5.0

125.4

84.0

BMU-25-140

L1260-ORE-DBY-003-DBY-009

596463.6

5882760.0

1261.7

15.0

125.3

96.0

BMU-25-141

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

35.0

125.0

117.0

BMU-25-142

L1260-ORE-DBY-003-DBY-003

596494.3

5882812.3

1259.3

15.0

125.0

84.0

BMU-25-143

L1260-ORE-DBY-003-DBY-009

596463.6

5882760.0

1261.2

5.0

125.0

81.0

BMU-25-144

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

25.0

125.0

102.0

BMU-25-145

L1260-ORE-DBY-003-DBY-003

596494.2

5882812.4

1259.9

25.4

125.5

102.0

BMU-25-146

L1260-ORE-DBY-003-DBY-009

596463.6

5882760.0

1260.8

-5.0

125.0

81.0

BMU-25-147

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

15.0

125.0

96.0

BMU-25-148

L1260-ORE-DBY-003-DBY-003

596494.0

5882812.5

1260.4

35.0

125.4

114.0

BMU-25-149

L1260-ORE-DBY-003-DBY-009

596464.0

5882759.8

1260.5

-15.0

125.0

84.0

BMU-25-150

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

4.9

125.0

78.0

BMU-25-151

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

-5.2

125.1

78.0

BMU-25-152

L1260-ORE-DBY-003-DBY-009

596463.9

5882759.8

1260.2

-25.0

125.0

90.0

BMU-25-153

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

-14.9

125.1

81.0

BMU-25-154

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

-25.0

125.0

87.0

BMU-25-155

L1260-ORE-DBY-003-DBY-009

596463.6

5882759.8

1260.0

-35.0

122.8

99.0

BMU-25-156

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

-35.1

125.0

96.0

BMU-25-157

L1260-ORE-DBY-003-DBY-013

596441.0

5882727.7

1262.6

-45.2

125.2

111.0

BMU-25-158

L1260-ORE-DBY-003-DBY-009

596463.4

5882759.9

1259.7

-45.1

124.9

114.0

BMU-25-159

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

35.1

125.3

114.0

BMU-25-160

L1260-ORE-DBY-003-DBY-011

596452.2

5882743.2

1263.9

35.1

124.9

114.0

BMU-25-161

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

25.1

124.8

102.0

BMU-25-162

L1260-ORE-DBY-003-DBY-011

596452.2

5882743.1

1263.5

25.0

124.7

102.0

BMU-25-163

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

14.9

125.1

72.0

BMU-25-164

L1260-ORE-DBY-003-DBY-011

596452.2

5882743.2

1263.0

14.9

124.8

96.0

BMU-25-165

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

5.1

125.0

72.0

BMU-25-166

L1260-ORE-DBY-003-DBY-011

596452.4

5882743.1

1262.4

5.0

125.0

81.0

BMU-25-168

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

-5.0

124.9

75.0

BMU-25-169

L1260-ORE-DBY-003-DBY-011

596452.5

5882743.0

1262.0

-5.1

124.8

81.0

BMU-25-171

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

-15.0

125.2

72.0

BMU-25-172

L1260-ORE-DBY-003-DBY-011

596452.5

5882743.0

1261.6

-15.4

0.0

84.0

BMU-25-174

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

-24.9

125.3

90.0

BMU-25-175

L1260-ORE-DBY-003-DBY-011

596452.5

5882743.1

1261.3

-25.3

125.2

90.0

BMU-25-177

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

-34.9

125.1

99.0

BMU-25-178

L1260-ORE-DBY-003-DBY-011

596452.4

5882743.1

1261.0

-35.1

124.8

99.0

BMU-25-180

L1260-ORE-DBY-003-DBY-007

596473.9

5882777.7

1259.8

-45.1

125.0

114.0

BMU-25-181

L1260-ORE-DBY-003-DBY-011

596452.4

5882743.2

1260.7

-45.1

125.0

114.0

 

ABOUT LOWHEE ZONE

 

Geological mapping and geochemical sampling were carried out on Barkerville Mountain from 2017-2018, with the Lowhee Zone identified as a high-priority drill target. From 2019 to 2022, a total of 167 surface drill holes were completed, totaling 54,494.5 m.

 

Lowhee zone access is through Cow portal on the northwestern flank of Barkerville Mountain (Figure 1 and Figure 2) Cow portal construction was completed in Q4 2024 and development of the underground ramp into the Lowhee zone commenced in Q1 2025. Approximately 350 m of development has been advanced within the Lowhee zone deposit at the 1,290 and 1,260-elevation levels since completion of the main access ramp. The probable mineral reserves estimate for the Lowhee Zone includes 104,491 ounces of contained Au (923,162 tonnes grading 3.52 g/t Au) and represents approximately 5% of the total contained gold in the estimated probable mineral reserves for the Cariboo Gold Project.

 

ABOUT CARIBOO GOLD PROJECT

 

The Cariboo Gold Project is a permitted, 100%-owned feasibility-stage project located in the historic Wells-Barkerville mining camp of central British Columbia, Canada. Spanning approximately 186,740 hectares, the Company’s land package includes 443 mineral titles and covers a ~83-kilometre strike of highly prospective exploration targets extending northwest to southeast. In late 2024, the Project was granted the Mines Act and Environmental Management Act (British Columbia) permits, marking the successful completion of the permitting process for key approvals, solidifying the Project's shovel-ready status.

 

The Cariboo Gold Project hosts probable mineral reserves of 2.071 million ounces of contained Au (17,815 kt grading 3.62 g/t Au); measured mineral resources of 8,000 ounces of contained Au (47 kt grading 5.06 g/t Au); indicated mineral resources of 1.604 million ounces of contained Au (17,332 kt grading 2.88 g/t Au); and inferred mineral resources of 1.864 million ounces of contained Au (18,774 kt grading 3.09 g/t Au). Mineral resources are reported exclusive of mineral reserves.

 

Technical Reports

 

Scientific and technical information relating to the Cariboo Gold Project and the 2025 feasibility study on the Cariboo Gold Project is supported by the technical report, titled "NI 43-101 Technical Report, Feasibility Study for the Cariboo Gold Project, District of Wells, British Columbia, Canada" and dated June 11, 2025 (with an effective date of April 25, 2025) (the "Cariboo Technical Report").

 

For readers to fully understand the information in the Cariboo Technical Report, reference should be made to the full text of the Cariboo Technical Report in its entirety, including all assumptions, parameters, qualifications, limitations and methods therein. The Cariboo Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. The Cariboo Technical Report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and is available electronically on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov) under Osisko Development's issuer profile and on the Company's website at www.osiskodev.com.

 

Qualified Persons

 

The scientific and technical information contained in this news release has been reviewed, verified and approved by Scott Smith, P. Geo., Vice President, Exploration of Osisko Development, a "qualified person" within the meaning of NI 43-101. Verification includes core photo and three-dimensional review of logged drillhole data and assays consistent with the Company's standard operating procedures.

 

Quality Assurance (QA) – Quality Control (QC)

 

Whole core sampling was used for all HQ core completed in the logging facilities following daily QAQC checks for logging and sampling errors. Quality control (QC) samples are inserted at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. Samples are bagged, labeled, sealed with numbered security tags

 

Samples are taken by expeditor from the logging facilities direct to MSALABS’s analytical facility in Prince George, B.C., Canada, for preparation and analysis. The MSALABS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is dried, crushed, and split into sealed containers. Analysis for gold is by gamma ray analysis using the Chrysos PhotonAssay (PA1408X). Samples are bombarded with gamma rays and the resulting signal is sent to the detectors.

 

Alternatively Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, and 250 grams is pulverized. Analysis for gold is by 50 gram fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000-gram screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

 

ABOUT OSISKO DEVELOPMENT CORP.
 

Osisko Development Corp. is a continental North American gold development company focused on past producing mining camps with district scale potential. The Company's objective is to become an intermediate gold producer through the development of its flagship, fully permitted, 100%-owned Cariboo Gold Project, located in central British Columbia, Canada. Its project pipeline is complemented by the Tintic Project located in the historic East Tintic mining district in Utah, U.S.A., a brownfield property with significant exploration potential, extensive historical mining data, and access to established infrastructure. Osisko Development is focused on developing long-life mining assets in mining-friendly jurisdictions while maintaining a disciplined approach to capital allocation, development risk management, and mineral inventory growth.

 

For further information, visit our website at www.osiskodev.com or contact:

 

Sean Roosen

Chairman and CEO

Email: sroosen@osiskodev.com

Tel: +1 (514) 940-0685

 

Philip Rabenok

Vice President, Investor Relations

Email: prabenok@osiskodev.com

 

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Tel: +1 (437) 423-3644

 

CAUTION REGARDING FORWARD LOOKING STATEMENTS

 

Certain statements contained in this news release may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (together, "forward-looking statements"). These forward-looking statements, by their nature, require Osisko Development to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including the assumptions, qualifications, limitations or statements relating to the prospectivity of exploration in the Lowhee Zone and targets outside of currently defined mineral reserves and/or mineral resources; the consistency of results with modelled reserve stopes (if at all); the results (if any) of further exploration work to define and expand mineral resources; the results, timing, utility and significance of the ongoing 13,000-meter infill drill program (including the temporary suspension of drilling activities following the incident reported on January 23, 2026 and the anticipated conclusion of the program in early Q2 2026) and its impacts on the local block model and/or future production stope designs and sequencing (if any); the ability and utility of exploration work (including drilling) to inform resource modeling, mine planning, production stope design procedures and parameters, refinement of infill drill requirements, and the appropriate drill spacing for future infill drilling (if at all); the ability and timing (if at all) to complete future additional systemic grid infill drill programs; the interpretation and accuracy of spatial geometries, geological structure and local variability modeling and assumptions in regard to potential reserve or resource revisions (if at all); the Company's strategy and objectives relating to the Cariboo Gold Project as well as its other projects; the assumptions, qualifications and limitations relating to the Cariboo Gold Project being permitted; assumptions, qualifications and parameters underlying the Cariboo Technical Report (including, but not limited to, the mineral resources, mineral reserves, production profile, mine design and project economics); the results of the Cariboo Technical Report as an indicator of quality and robustness of the Cariboo Gold Project, as well as other considerations that are believed to be appropriate in the circumstances; the ability of the Company to achieve the estimates outlined in the Cariboo Technical Report in the timing contemplated (if at all); the ability, progress and timing in respect of the 13,000-meter infill drill program; the contemplated work plan and activities at the Cariboo Gold Project and the timing, scope and results thereof and associated costs thereto; the potential impact of tariffs and other trade restrictions (if any); mineral resource category conversion; the future development and operations at the Cariboo Gold Project; management's perceptions of historical trends, current conditions and expected future developments; the utility and significance of historic data, including the significance of the district hosting past producing mines; future mining activities; the ability of exploration work (including drilling and sampling) to accurately predict mineralization; the ability of the Company to expand mineral resources beyond current mineral resource estimates; the ability of the Company to complete its exploration and development objectives for its projects in the timing contemplated and within expected costs (if at all); the ongoing advancement of the deposits on the Company's properties; sustainability and environmental impacts of operations at the Company's properties; gold prices; the costs required to advance the Company's properties; the ability to adapt to changes in gold prices, estimates of costs, estimates of planned exploration and development expenditures; the profitability (if at all) of the Company's operations; regulatory framework remaining defined and understood as well as other considerations that are believed to be appropriate in the circumstances, and any other information herein that is not a historical fact may be "forward looking information". Osisko Development considers its assumptions to be reasonable based on information currently available, but cautions the reader that their assumptions regarding future events, many of which are beyond the control of Osisko Development, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect Osisko Development and its business. Such risks and uncertainties include, among others, risks relating to third-party approvals, including the issuance of permits by governments, capital market conditions and the Company's ability to access capital on terms acceptable to the Company for the contemplated exploration and development at the Company's properties; the ability to continue current operations and exploration; regulatory framework and presence of laws and regulations that may impose restrictions on mining; errors in management's geological modelling; the timing and ability of the Company to obtain and maintain required approvals and permits; the results of exploration activities; risks relating to exploration, development and mining activities; the global economic climate; fluctuations in metal and commodity prices; fluctuations in the currency markets; dilution; environmental risks; and community, non-governmental and governmental actions and the impact of stakeholder actions. Osisko Development is confident a robust consultation process was followed in relation to its received BC Mines Act and Environmental Management Act permits for the Cariboo Gold Project and continues to actively consult and engage with Indigenous nations and stakeholders. While any party may seek to have the decision related to the BC Mines Act and/or Environmental Management Act permits reviewed by the courts, the Company does not expect that such a review would, were it to occur, impact its ability to proceed with the construction and operation of the Cariboo Gold Project in accordance with the approved BC Mines Act and Environmental Management Act permits. Readers are urged to consult the disclosure provided under the heading "Risk Factors" in the Company's annual information form for the year ended December 31, 2024 as well as the financial statements and MD&A for the year ended December 31, 2024 and quarter ended September 30, 2025, which have been filed on SEDAR+ (www.sedarplus.ca) under Osisko Development's issuer profile and on the SEC's EDGAR website (www.sec.gov), for further information regarding the risks and other factors facing the Company, its business and operations. Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.