Osisko Development receives environmental permits for Cariboo Gold Project

Osisko Development Corp. announced on December 12, 2024, that it has received the necessary Environmental Management Act permits for its 100%-owned Cariboo Gold Project in central British Columbia. These permits, combined with the Mines Act permits granted on November 20, 2024, complete the project's permitting process and establish its readiness for construction.

Sean Roosen, Founder, Chairman, and CEO of Osisko Development, stated that the company is pleased with the environmental approvals, which position the Cariboo Gold Project for construction and operation. He noted that full-scale construction is anticipated to commence in the second half of 2025, with an optimized feasibility study expected in the second quarter of 2025.

The Ministry of Energy, Mines and Low Carbon Innovation, represented by Minister Jagrup Brar, expressed support for the project, highlighting its potential to create jobs and economic opportunities for local communities and First Nations. The ministry aims to balance efficient permitting with environmental protection and reconciliation efforts.

The company has indicated that following a final investment decision and project financing package, construction could begin in the latter half of 2025, aiming for completion by the end of 2027. Ongoing bulk sampling and underground development work are scheduled for completion in the first quarter of 2025. Osisko Development is actively discussing financing options to support the project's development.