Osisko Development completes underground access for Cariboo bulk sample

Osisko Development Corp. has completed 100% of the planned underground development, extending approximately 1,172 meters, to reach the target zone for a bulk sample at its Cariboo Gold Project in central British Columbia. The company is in the final stages of preparing to extract 10,000 metric tonnes of mineralized material. Stope preparation is largely complete, with blasting and extraction anticipated in the coming weeks. Results from this bulk sample are expected in the first quarter of 2025 and are intended to support the ongoing optimized feasibility study, due in the second quarter of 2025.

The company reports visible sulfide mineralization and preliminary visual confirmation of the geology within the Lowhee Zone. The extracted sample will undergo ore sorter testing at Tomra's facility in Saskatoon, Saskatchewan, to produce a concentrate. These steps are designed to provide valuable grade reconciliation data against the resource model and validate assumptions regarding ore sorting.

These activities are expected to significantly de-risk the project from a technical standpoint as Osisko Development continues to progress toward securing financing for project advancement. The company's update references past technical reports supporting the project's feasibility.