Osisko Gold intersects 7.28 g/t Au over 16.15 m at Cariboo
HIGHLIGHTS
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TORONTO, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Osisko Gold Group Inc. (NYSE: OGG, TSXV: OGG) ("Osisko Gold" or the "Company") is pleased to announce new results from its ongoing definition infill drilling program on 10-15 metre ("m") target spacing totaling 3,933 m in 36 holes drilled from the 1290 m level in the Lowhee Zone of the Company's flagship, permitted, 100%-owned Cariboo Gold Project (the "Project"), currently under construction in central British Columbia, Canada.
Chris Lodder, President, stated, "Ongoing underground infill drilling continues to strengthen our confidence in the Lowhee Zone of the Cariboo Gold deposit. Intercepts outside the modelled reserve stopes also suggest potential for resource conversion and upside mineralization, reinforcing the Cariboo Gold Project's potential as underground development advances into new zones."
Corporate Updates
- In connection with the ongoing construction of the Cariboo Gold Project, the Company, through its wholly-owned subsidiary, Barkerville Gold Mines Ltd., has awarded the continuing underground mine development and related works contract to current contractor JDS Energy & Mining Inc. ("JDS") effective October 5, 2026.
- The Company also announces that it has granted an aggregate of (i) 72,700 stock options of the Company (the "Options"), and (ii) 553,700 restricted share units of the Company ("RSUs") to certain newly hired senior officers and non-executive employees (collectively, the "Incentive Awards"), pursuant to the Company's omnibus equity incentive plan ("Omnibus Plan"). The Incentive Awards are designed to align the interests of the recipients with those of shareholders and support the execution of the Company's long-term growth strategy. The Options are exercisable at a price of C$4.00 per common share of the Company (based on the October 2, 2026, closing price on the TSX Venture Exchange) and will expire on October 5, 2031. The Options will vest in three equal installments over the next three years. The RSUs will cliff vest on October 5, 2029, and are subject to time and performance conditions.
DRILL ASSAY HIGHLIGHTS
This news release contains assays from thirty-six (36) diamond drillholes ("DD") completed in four fans totaling 3,933 m drilled to the northwest from the L1290-ORE-000 drill station with depths ranging from 81.20 to 150.50 m (see Table 1 and Figures 5-9). All holes were collared in HQ (63.5 millimetre diameter). Estimated true widths of intercepts are provided in Table 1. Select photon assay highlights include:
- 7.28 grams per tonne ("g/t") gold ("Au") over 16.15 m at ~105 m vertical depth in BMU-26-121, including:
- 173.66 g/t Au over 0.60 m, and
- 6.80 g/t Au over 0.50 m, and
- 5.39 g/t Au over 0.50 m, and
- 3.58 g/t Au over 0.50 m
- 7.13 g/t Au over 11.60 m at ~61 m vertical depth in BMU-26-075 (Figure 1), including:
- 62.06 g/t Au over 0.50 m, and
- 31.88 g/t Au over 0.80 m, and
- 18.85 g/t Au over 0.50 m, and
- 7.13 g/t Au over 0.85 m, and
- 6.47 g/t Au over 0.90 m, and
- 2.23 g/t Au over 0.85 m
- 9.40 g/t Au over 8.50 m at ~72 m vertical depth in BMU-26-076, including:
- 78.39 g/t Au over 0.65 m, and
- 41.31 g/t Au over 0.55 m, and
- 3.77 g/t Au over 0.55 m, and
- 3.06 g/t Au over 0.50 m
- 29.30 g/t Au over 2.10 m at ~62 m vertical depth in BMU-26-096 (Figure 2), including:
- 111.38 g/t Au over 0.55 m
- 10.26 g/t Au over 5.75 m at ~56 m vertical depth in BMU-26-076, including:
- 60.62 g/t Au over 0.80 m, and
- 7.84 g/t Au over 0.50 m, and
- 5.28 g/t Au over 0.50 m, and
- 4.82 g/t Au over 0.50 m
- 4.04 g/t Au over 14.35 m at ~78 m vertical depth in BMU-26-098, including:
- 29.57 g/t Au over 1.00 m, and
- 20.35 g/t Au over 1.00 m, and
- 7.06 g/t Au over 0.50 m
- 9.98 g/t Au over 5.70 m at ~91 m vertical depth in BMU-26-118, including:
- 72.45 g/t Au over 0.60 m, and
- 8.75 g/t Au over 0.75 m, and
- 6.38 g/t Au over 0.50 m, and
- 3.16 g/t Au over 0.50 m
- 11.17 g/t Au over 3.05 m at ~65 m vertical depth in BMU-26-119, including:
- 50.82 g/t Au over 0.50 m, and
- 14.38 g/t Au over 0.50 m
- 2.71 g/t Au over 9.95 m at ~63 m vertical depth in BMU-26-097, including:
- 19.51 g/t Au over 0.95 m, and
- 6.95 g/t Au over 0.50 m, and
- 4.87 g/t Au over 0.50 m
- 4.10 g/t Au over 6.50 m at ~40 m vertical depth in BMU-26-047, including:
- 17.25 g/t Au over 0.50 m, and
- 14.98 g/t Au over 0.50 m, and
- 9.18 g/t Au over 0.50 m, and
- 6.33 g/t Au over 0.50 m, and
- 2.51 g/t Au over 0.50 m
Complete assay highlights, including true width estimates, are presented in Table 1. Vertical depths are measured from modelled topographic surface to the interval mid-point. Drill hole locations and orientations are listed in Table 2. Intervals not recovered were assigned zero grade. Top cuts have not been applied to high grade assays.
Cut-off assay composites from ongoing infill drilling at the 1290 Level, presented in plan in Figure 5 and in cross section in Figures 6-9, show a degree of spatial correlation with modelled reserve stopes; intercepts outside these areas suggest potential for resource conversion and upside mineralization.
FIGURE 1: 7.13 g/t Au over 11.60 m at ~61 m vertical depth in BMU-26-075
FIGURE 2: Visible gold with pyrite under hand lens in composite interval with 29.30 g/t Au over 2.1 m at ~62 m vertical depth in BMU-26-096
FIGURE 3: Cariboo Gold Project deposit map with Location of Lowhee Zone and Cow Portal underground access.
FIGURE 4: Location and overview of ongoing Lowhee Zone underground definition infill diamond drilling.
FIGURE 5: Lowhee Zone select underground drilling highlights (plan view).
FIGURE 6: L1290-ORE-F09 select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan. New results from adjacent fans within slice (20 m looking 029°) omitted for visual clarity.
FIGURE 7: L1290-ORE-F10 select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan. New results from adjacent fans within slice (20 m looking 039°) omitted for visual clarity.
FIGURE 8: L1290-ORE-F11 select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan. New results from adjacent fans within slice (20 m looking 046°) omitted for visual clarity.
FIGURE 9: L1290-ORE-F12 select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan. New results from adjacent fans within slice (20 m looking 050°) omitted for visual clarity.
| 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) | Approx. Vertical Depth (m) | |
| BMU-26-047 | 50.10 | 51.10 | 1.00 | 2.32 | 0.82 | 76 | |
| Including | 50.10 | 50.60 | 0.50 | 4.38 | |||
| 83.00 | 83.50 | 0.50 | 2.34 | 0.41 | 49 | ||
| 89.65 | 96.15 | 6.50 | 4.10 | 4.09 | 40 | ||
| Including | 90.15 | 90.65 | 0.50 | 17.25 | |||
| and | 92.15 | 92.65 | 0.50 | 2.51 | |||
| and | 92.65 | 93.15 | 0.50 | 14.98 | |||
| and | 94.15 | 94.65 | 0.50 | 6.33 | |||
| and | 94.65 | 95.15 | 0.50 | 9.18 | |||
| 99.30 | 100.30 | 1.00 | 2.67 | 0.64 | 34 | ||
| Including | 99.30 | 99.80 | 0.50 | 4.05 | |||
| BMU-26-050 | 85.30 | 91.80 | 6.50 | 1.92 | 5.37 | 45 | |
| Including | 87.30 | 87.80 | 0.50 | 1.99 |
| Table 2: Underground DD collar locations, drillhole orientations, and max depths. Negative dips point down. | |||||||
| Drillhole ID | Mine Location | Easting (UTM Zn 10N) | Northing (UTM Zn 10N) | Elevation (m) | Dip | Azimuth | Depth (m) |
| BMU-26-047 | L1290-ORE-000 | 596489 | 5882890 | 1292 | 33 | 302 | 123.20 |
| BMU-26-050 | L1290-ORE-000 | 596489 | 5882890 | 1292 | 28 | 302 | 126.30 |
| BMU-26-053 | L1290-ORE-000 | 596489 | 5882890 | 1291 | 22 | 302 | 132.40 |
| BMU-26-056 | L1290-ORE-000 | 596489 | 5882890 | 1291 | 16 | 302 | 112.90 |
| BMU-26-059 | L1290-ORE-000 | 596489 | 5882890 | 1291 | 10 | 302 | 103.90 |
| BMU-26-062 | L1290-ORE-000 | 596489 | 5882890 | 1290 | 3 | 302 | 96.50 |
| BMU-26-065 | L1290-ORE-000 | 596489 | 5882890 | 1290 | -4 | 302 | 93.30 |
| BMU-26-067 | L1290-ORE-000 | 596489 | 5882890 | 1290 | -16 | 302 | 87.40 |
| BMU-26-069 | L1290-ORE-000 | 596489 | 5882890 | 1290 | -27 | 302 | 87.50 |
| BMU-26-070 | L1290-ORE-000 | 596489 | 5882890 | 1289 | -38 | 302 | 96.20 |
| BMU-26-072 | L1290-ORE-000 | 596489 | 5882890 | 1292 | 33 | 309 | 96.20 |
| BMU-26-073 | L1290-ORE-000 | 596489 | 5882890 | 1292 | 28 | 309 | 111.30 |
| BMU-26-074 | L1290-ORE-000 | 596489 | 5882890 | 1291 | 22 | 309 | 120.40 |
| BMU-26-075 |
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.
The Lowhee Zone is accessed through the Cow portal on the northwestern flank of Barkerville Mountain (Figure 3 and Figure 4). Cow portal construction was completed in Q4 2024 and development of the underground ramp into the Lowhee Zone commenced in Q1 2025. The probable mineral reserves estimate for the Lowhee Zone (with an effective date of April 10, 2025) 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 currently under construction 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 an area that extends approximately 77 kilometres from 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. On September 14, 2026, the Company announced a formal positive decision to proceed with the construction of the Project, with an expected first gold pour in Q1 2029 and commercial production in H2 2029.
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 Gold's issuer profile and on the Company's website at www.osiskogold.ca.
Qualified Persons
The scientific and technical information in this news release has been reviewed, verified and approved by Scott Smith, P. Geo., Vice President, Exploration of Osisko Gold, 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 procedures.
Quality Assurance (QA) – Quality Control (QC)
All drill core was whole core sampled in on-site 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, labelled, 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. MSALABS is independent of the Company. 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.
| ABOUT OSISKO GOLD GROUP INC. | |
| Osisko Gold Group Inc. is a 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, currently under construction in central British Columbia, Canada. The Project is situated within the Company's broader Cariboo regional land package, which hosts numerous prospective exploration targets and provides opportunities for future discoveries. Its Cariboo 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 Gold 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.osiskogold.ca or contact: | |
| Sean Roosen Chairman and CEO Email: sroosen@osiskogold.ca Tel: +1 (514) 940-0685 | Philip Rabenok Vice President, Investor Relations Email: prabenok@osiskogold.ca Tel: +1 (437) 423-3644 |
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. 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 pertaining to: the utility and significance of the underground infill drilling results and the interpretation thereof; the interpretation and accuracy of intercepts outside modelled reserve stopes to suggest potential for resource conversion and upside mineralization (if at all); the potential for upside at depth and along strike of the known mineral resource footprint (if any); 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 ability and utility of exploration and infill 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 results (if any) of further exploration work and ability of the Company to define and expand mineral resources beyond current mineral resource estimates; mineral resource category conversion; the prospectivity of exploration in targets outside of currently defined mineral reserves and/or mineral resources; the performance of the underground mine development and related works contract with JDS and the advancement of underground development into new zones; the anticipated construction of the Cariboo Gold Project, including the expected timing of first gold pour and commercial production; the vesting, exercise and settlement of the Incentive Awards, including the satisfaction of applicable time and performance conditions; 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; the ability of the Company to achieve the estimates outlined in the Cariboo Technical Report in the timing contemplated (if at all); 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; the ability of exploration work (including drilling and sampling) to accurately predict mineralization; 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 ability to adapt to changes in gold prices, estimates of costs, estimates of planned exploration and development expenditures; 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; the exploration potential and prospectivity (if any) of its properties; '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". Actual results could differ materially due to a number of factors, including, without limitation: 'risks relating to third-party approvals, including the issuance of permits by governments; risks relating to the performance of contractors, including JDS; capital market conditions and the Company's ability to access capital on terms acceptable to the Company for the contemplated exploration, development and construction at the Company's properties; risks related to the exploration, development, construction and operation of the Cariboo Gold Project, including delays and cost overruns; risks related to geological modeling and resource estimation; health, safety and security incidents; regulatory delays or changes in regulatory framework and applicable laws; labour shortages or disputes; general economic and market conditions and business conditions in the mining industry; fluctuations in commodity prices and currency exchange rates, as well as those risks and factors disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov).
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.
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