THE TINTIC PROJECT

Project Description

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The Tintic Project, 100%-owned by Osisko Development, is located 95 km south of Salt Lake City, within the historic East Tintic Mining District of Central Utah, USA. The Company is currently focused on fast-tracking Trixie, which is one of several gold and base metal targets, including high-quality porphyry, epithermal and carbonate targets, within the larger Tintic Project consisting of 17,000 acres of patented mining claims and mineral leases, which host 23 past-producing mines within the Project boundaries.

Gold mineralization is associated with high sulphidation epithermal mineralization, structurally controlled and hosted within the quartzites. Mineralization consists of native Au, and rare Au-Ag rich telluride minerals with quartz and quartz-barite-sulphosalt stockwork veining.

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Mineral Reserves and Resources

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MINERAL RESOURCE ESTIMATE
The 2024 Trixie mineral resource estimate (“MRE”) comprises six mineralized zones within the greater Trixie deposit, including T2, T3, T4, Wild Cat, 40 Fault and 75-85 over a strike length of 530 m, a maximum width of 105 m and to a maximum depth of 195 m for the deposit and is 350 m from surface. These dimensions are for the overall size of the mineralized zone structures, with the 2024 Trixie MRE blocks contained within a smaller 440 m strike length, 60 m total width and 195 m depth footprint.

2024 Trixie MRE Separated by Domain – March 14, 2024

Domain	Category	Tonnes	Grade (Au g/t)	Contained Gold (oz)	Grade (Ag g/t)	Contained Silver (oz)
T2	Measured	22,678	106.27	77,484	115.99	84,572
	Indicated	11,939	23.19	8,902	51.07	19,602
	M+I	34,617	77.62	86,387	93.60	104,173
	Inferred	1,996	9.82	630	61.38	3,938
T3	Measured	2,385	9.46	725	75.34	5,776
	Indicated	970	5.47	171	57.32	1,787
	M+I	3,355	8.30	896	70.13	7,564
	Inferred	139	6.27	28	63.14	282
T4 + Wild Cat + 40 FLT	Measured	94,784	8.93	27,227	48.41	147,520
	Indicated	51,827	6.48	10,795	37.59	62,637
	M+I	146,611	8.07	38,023	44.58	210,156
	Inferred	104,676	6.57	22,127	38.57	129,792
75-85	Measured	–	–	–	–	–
	Indicated	60,008	12.93	24,943	80.95	156,185
	M+I	60,008	12.93	24,943	80.95	156,185
	Inferred	94,793	9.12	27,784	59.28	180,666
Total	Measured	119,847	27.36	105,437	61.73	237,868
	Indicated	124,743	11.17	44,811	59.89	240,211
	M+I	244,590	19.11	150,248	60.80	478,078
	Inferred	201,603	7.80	50,569	48.55	314,678

Notes

Effective date of the 2024 Trixie MRE is March 14, 2024.
Each of Mr. William Lewis, P.Geo., of Micon International Limited and Alan J. San Martin, AusIMM(CP), of Micon International Limited (i) has reviewed and validated the 2024 Trixie MRE, (ii) is considered to be independent of the Company for purposes of Section 1.5 of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“), and (iii) is a “qualified person” within the meaning of NI 43-101.
The mineral resources were estimated using the Canadian Institute of Mining (“CIM“), Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” adopted by the CIM council.
Mineral resources are reported when they are within potentially mineable shapes derived from a stope optimizer algorithm, assuming an underground longhole stoping mining method with stopes of 6.1 m x 6.1 m x minimum 1.5 m dimensions.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Geologic modelling was completed by Osisko Development modeling geologist Jody Laing, P.Geo, using Leapfrog Geo software. The 2024 Trixie MRE was completed by Osisko Development chief resource geologist, Daniel Downton, P.Geo using Datamine Studio RM 2.0 software. William Lewis and Alan J. San Martin of Micon International Limited independently reviewed and validated the mineral resource model.
The estimate is reported for an underground mining scenario and with USD assumptions. The cut-off grade of 4.32 g/t Au was calculated using a gold price of US$1,750/oz, a CAD:USD exchange rate of 1.30; total mining, processing and G&A costs of US$170.69/imperial ton; a combined royalty of 4.50%; and an average metallurgical gold recovery of 80%.
The stope optimizer algorithm evaluated the resources based on a gold equivalent grade which incorporates the silver grade estimate and assumes a silver price of US$23/oz and metallurgical silver recovery of 45%.
The 2024 Trixie MRE is comprised of six zones within the greater Trixie area: T2, T3, T4, Wild Cat, 40 Fault and 75-85.
Average bulk density values in the mineralized domains were assigned to the T2 (2.955 T/m³), T3 (2.638 T/m³), T4(2.618 T/m³), Wild Cat, and 40 Fault (2.621 T/m³), and 75-85 (2.617 T/m³) domains.
Inverse Distance Squared interpolation method was used with a parent block size of 1.2 m x 2.4 m x 2.4 m.
The Company intends to file a technical report (the “Technical Report“) in respect of the 2024 Trixie MRE in accordance with NI 43-101 on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov) under Osisko Development’s issuer profile within 45 days of the date of this news release.
The 2024 Trixie MRE results are presented in-situ. Calculations used metric units (metres, tonnes, g/t). The number of tonnes is rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects.
Neither the Company nor Micon International Limited is aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materially affect the mineral resource estimate other than disclosed in this presentation.
Technical information in this news release differs from similar information made public by U.S. companies subject to the reporting and disclosure requirements of the U.S. Securities and Exchange Commission. See below under “Cautionary Statement to U.S. Investors”.

Highlights

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Ownership:	100% Osisko Development Corp.
Mineral Assets:	Trixie gold mine, underground production and exploration development Eureka Standard, Ajax, North Lily (Trixie satellite expansion) Burgin (historic PEA (2011) Cu, Zn, Pb historic resource) Cu-Mo-Au Porphyry Targets
Location:	Located in Central Utah, ~40 mi (64km) south of Provo 60 mi (95 km) south of Salt Lake City 45 mi (70 km) South of Bingham Mine and Smelter
Land Package:	14,200 acres of patented mining claims Additional 3,000 acres of leased patented claims
Infrastructure:	Public utility power sub-station on-site Sealed, paved road to access site, running through site Int’l airport (Salt Lake) 80 mi (130 km) by road away
Permitting:	Mining and processing permits in place at Trixie