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Message: Extends South Barnat to 1200 Metres Length
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Extends South Barnat to 1200 Metres Length

posted on Jan 13, 2009 09:33AM
January 13, 2009
Osisko Extends South Barnat to 1200 Metres Length
MONTREAL, QUEBEC--(Marketwire - Jan. 13, 2009) - Osisko Mining Corporation ("Osisko")(TSX:OSK)(FRANKFURT:EWX) is pleased to announce new exploration results from two holes drilled east of the South Barnat Zone (a separate gold mineralized zone located northeast of the Canadian Malartic deposit). Significant results include 44.5 metres averaging 1.45 g/t Au (hole BA08-3406), and 25.5 metres averaging 1.39 g/t Au (hole BA08-3407). Both holes were drilled along a section located between historical underground workings of the East Malartic mine. Results are tabled below:

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Hole No.     From (m)   To (m)   Length (m)   Au g/t
BA08-3406       93.0    133.5         40.5      0.81
And            162.0    206.5         44.5      1.45
And            262.5    277.5         15.0      2.05
BA08-3407       73.5     96.0         22.5      0.64
And            151.0    176.5         25.5      1.39
And            224.5    249.5         25.0      0.86
And            347.0    366.0         19.0      2.62
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The inclined holes were drilled towards the north on a section located approximately 360 m (1290 ft.) east of the current southeastern limit of the South Barnat grid. All mineralized intersections were located in altered Pontiac metasediments on the south side of the Cadillac Fault, with the exception of the last higher grade intersections in both drill holes, which were located in porphyry on the north side of the fault. True thickness and geometry of the mineralized zones in the Pontiac is unknown while the true thickness of the higher grade, subvertical porphyry-hosted mineralization is estimated at 13 metres, with current drilling indicating a minimum depth of 280 metres.

The definition drill program at South Barnat is focused on an 850 metre-long grid oriented northwest-southeast with drill sections spaced 25 metres apart. These latest results suggest the South Barnat Zone extends along the Cadillac fault into the old East Malartic system and may have a near-surface strike length of 1200 metres (3940 ft.).

Osisko Mining Corp. is currently developing the Canadian Malartic gold deposit and adjacent areas into a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded and is carrying out an aggressive definition drilling and exploration campaign. Eight drills are currently working on the property, with five dedicated to completing the 130,000 metre infill drilling on the South Barnat Zone by mid-February. A NI 43-101 compliant, 6.3 million ounce gold Reserve estimate and Feasibility Study on the main Canadian Malartic gold deposit was released on November 25, 2008 and has been filed on SEDAR. This estimate does not include the South Barnat Zone or any other mineralized zone located outside the main deposit that is currently being evaluated by Osisko.

All NQ or HQ core assays reported above were obtained by standard 50 g fire assaying-AA finish or gravimetric finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.50 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays. Intersected drifts or lost core within mineralized intersections were incorporated as blank intervals. Mr. Robert Wares, P. Geo., Executive Vice-President and COO of Osisko, is the Qualified Person responsible for the technical information reported in this news release
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