MONTREAL, QUEBEC--(Marketwired - Sep 29, 2016) - Osisko Mining Inc. (OSK.TO) ("Osisko") is pleased to announce that it has commenced a 15,000 metre drill program on its 100% owned Black Dog property (formerly known as the "Souart" property) situated 14 kilometres southwest of the Windfall deposit.

The drill program has been designed to test targets along the five kilometre of strike of the main structure hosting the historical Nubar showing, to investigate gold anomalies associated with the Tourmaline Hill Zone, and to expand the Barry-Souart Zone.

About the Black Dog Property

The Black Dog property was acquired by Osisko in February 2016 (as further described in the press release of Osisko dated February 3, 2016). The property is located 90 kilometres east of the town of Lebel-sur-Quevillon, Québec on the Barry-Urban greenstone belt and lies 14 kilometres southwest from the Windfall Lake gold deposit. Black Dog hosts three known zones of mineralisation over a strike length of five kilometres: the Nubar Zone; Tourmaline Hill Zone; and the Barry-Souart Zone. The Nubar Zone has estimated resources of 564,000 tonnes at 6.2 g/t Au based on historical estimates that have not been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Please see "Disclosure of Historical Estimates" below.

Disclosure of Historical Estimates

In 1950, Nubar Mines Ltd. sunk a 44 metre deep shaft and drove 135 metres of drifts and crosscuts. Several exploration surveys were then completed by a number of other companies (Glenelm Developers Limited, Goldmaster Mines Ltd., Shell Canada Limited, Tut Explorations, Société de développement de la Baie-James (SDBG) and Oasis Resources Inc.). Between 1985 and 1990, Oasis Resources Inc. completed 152 drill holes, followed with an estimated resource calculation of 564,000 tonnes at 6.2 g/t Au. This resource estimate is of a historical nature and does not comply with NI 43-101. However, the resource estimate may be relevant because the Souart property forms part of the same geological trend encompassed by the Nubar Zone and, to the best of the knowledge of Mr. Jean Philippe Desrochers, Qualified Person, there has been no material change with respect to the metallic minerals within the original resource estimation area (and region) that would affect the estimation parameters since 1985. Further drilling would be required to upgrade or verify the historical resource estimate as current mineral resources or reserves. Osisko is unaware of the existence of any technical report prepared in connection with the scientific and technical information in this news release. A Qualified Person (within the meaning of NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Osisko is not treating the historical estimate as current mineral resources or mineral reserves. Further, there have not been any mineral resources calculated on the Souart property recently.

Qualified Person

The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Jean-Philippe Desrochers, Ph.D., P.Geo. Senior Project Manager of the Windfall Lake gold project, who is a "Qualified Person" as defined by NI 43-101.

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-d'Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québec's prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $80 million in cash and cash equivalents as well as marketable securities of approximately $60 million.