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| April 13, 2010 |
| Osisko Formally Launches Friendly Offer to Acquire Brett |
| MONTREAL, QUEBEC--(Marketwire - April 13, 2010) - Osisko Mining Corporation ("Osisko") (TSX:OSK) (FRANKFURT:EWX) today has mailed to shareholders (the "Shareholders") of Brett Resources Inc. ("Brett") (TSX VENTURE:BBR) (FRANKFURT:A4N) and filed with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, the offer and take-over bid circular (collectively the "Offer Documents"), formally commencing Osisko's friendly offer to acquire (the "Offer") all of the outstanding common shares of Brett on the basis of 0.34 of an Osisko common share and $0.0001 in cash for each common share of Brett. As previously announced, Osisko and Brett entered into a support agreement ("Support Agreement") on March 21, 2010 providing for the terms of the Offer and the agreement by the board of directors of Brett to recommend that Shareholders accept the Offer. The consideration under the Offer represents a premium of 52.5% using the 20-day volume weighted average prices of Osisko and Brett quoted on the Toronto Stock Exchange and TSX Venture Exchange, respectively, for the 20 trading day period ending March 16, 2010. In addition, Brett has prepared a Directors Circular in accordance with Canadian securities law requirements, which confirms that the board of directors of Brett has unanimously approved the Offer and has determined it is fair and is in the best interests of Brett and the Shareholders and that the board of directors of Brett unanimously recommends that Shareholders accept the Offer and tender their Brett common shares to the Offer. The Directors Circular was mailed concurrently with the Offer Documents. Full details of the Offer are contained in the Offer Documents and the Directors Circular and Shareholders are encouraged to read the documents and to consider the important information contained therein. Copies of the Offer Documents and Directors Circular along with other relevant documents are available electronically at www.sedar.com. The Offer is open for acceptance until 5:00 p.m. (Toronto time) on May 19, 2010. Sean Roosen, President and CEO of Osisko commented "Since the announcement of the Support Agreement, we have met with a number of shareholders of both Osisko and Brett and are very pleased with the strong support that they have indicated in favour of the Offer. We believe that investors support our vision of building Osisko into a leading gold producer with future gold output anticipated to exceed 1 million ounces per annum." Osisko has retained Kingsdale Shareholder Services Inc. to act as both its information agent and depositary in connection with the Offer. |
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