Osisko Mining Corporation ("Osisko") (TSX:OSK - News)(Frankfurt:EWX - News) is pleased to announce that it closed its previously announced strategic investment in Bowmore Exploration Ltd. (TSX-V:BOW - News) ("Bowmore") through an investment of $3.0 million of a proposed $4.2 million non-brokered private placement (the "private placement"). Osisko now owns 15,000,000 common shares (39.1%) of the 38,364,984 shares outstanding on a non-diluted basis and 22,500,000 common shares (40.4%) of the shares outstanding on a fully diluted basis. Furthermore, Osisko has the right to appoint two nominees to Bowmore's five member board of directors.

Osisko's primary business objective is the exploration and development of the flagship Canadian Malartic gold deposit. Osisko has also identified a number of grass-roots gold exploration opportunities in Canada and has selected Bowmore as an exploration partner to advance these projects. Bowmore currently has an option to acquire a 100% interest in the Santa Elvira gold-copper property in Mexico, which is of interest to Osisko. The parties believe that their strategic alliance should create shareholder value for both Osisko and Bowmore, as Osisko intends to involve Bowmore in exploration projects that would not be suitable for Osisko given its focus on the Canadian Malartic gold project, and thereby reduce Osisko's exploration risk, and Bowmore will benefit from deal flow generated by Osisko.

Mr. Robert Wares, Executive Vice-President and COO of Osisko is currently a director of Bowmore. Pursuant to the private placement, Osisko has the right to appoint two nominees to Bowmore's five member board of directors. Mr. Wares and Mr. Sean Roosen, President and CEO of Osisko will be the two nominees of Osisko.

The proceeds from the private placement will be used by Bowmore for exploration work on the Santa Elvira property, new project acquisitions, development and for working capital purposes.

About Osisko

Osisko Mining Corporation is currently developing the Canadian Malartic gold deposit and evaluating adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Canadian Malartic deposit currently represents one the biggest gold reserves in Canada for a single deposit, and is still growing through ongoing drilling on new mineralized zones. Current reserves for the Canadian Malartic property are 6.28 million ounces, plus (including the Barnat deposit) a measured and indicated resource of 3.65 million ounces and an inferred resource of 0.84 million ounces. Osisko is well-funded with approximately $420 million on hand.

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 release.

As disclosed above, Osisko acquired 15,000,000 Units in the private placement for a total subscription price of $3,000,000. Osisko did not own any shares or other securities of Bowmore prior to the private placement. As a result of the transactions announced herein, Osisko owns 15,000,000 Bowmore shares representing approximately 39.1% of the 38,364,984 issued and outstanding Bowmore shares. Assuming no other issuance of shares pursuant to the exercise of warrants or options, Osisko also owns 7,500,000 warrants or 22,500,000 shares on a fully diluted basis which would represents 49.1% of the issued and outstanding shares of Bowmore. The Bowmore shares are listed for trading on the TSX Venture Exchange under the trading symbol, "BOW". For the purposes of National Instrument 62-103 early warning reporting, the address of Osisko is 1100, rue De La Gauchetiere Ouest, Bureau 300, Montreal, Quebec H3B 2S2. Osisko has acquired the shares and warrants of Bowmore for investment purposes, and has no current intention to increase the beneficial ownership, control or direction of Bowmore.