Osisko Reports 0.82 g/t Au Over 197 Metres at Western Porphyry Zone

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MONTREAL, QUEBEC--(Marketwire - 07/15/10) - Osisko Mining Corporation ("Osisko") (TSX:OSK - News)(Frankfurt:EWX - News) is pleased to announce initial results from the 2009-2010 definition drill program on the Western Porphyry Zone, located on Osisko's 100%-owned Amphi property immediately adjacent to the Canadian Malartic property, and approximately 1.8 km northwest of the crusher and the 55,000-tpd mill currently being constructed for the Canadian Malartic project. The 82-hole, 21,000-metre definition drilling program, presently being executed on a 50 by 50-metre grid, was started at the end of 2009 following encouraging preliminary results obtained in 2008 (see March 26, 2008 press release).

Results for the first twenty-five holes of the program are presented below. Highlights include 137.8 metres averaging 0.93 g/t Au (WP09-4009) and 197.2 metres averaging 0.82 g/t Au (WP10-4023):

 

--------------------------------------------------------------------------
Hole No.    Section  Az./dip    From (m)      To (m)     Length     Au g/t
                                                             (m)
WP09-4001      650E   218/55       155.5       200.0        44.5      0.64

WP09-4002      650E   218/55        58.0        97.0        39.0      0.65

WP09-4004      600E   218/58       169.4       193.0        23.6      1.71
And                                254.0       312.0        58.0      0.65

WP09-4006      550E   218/55        84.0       122.5        38.5      0.50
And                                218.0       236.0        18.0      1.66

WP09-4007      500E    38/55        46.5       114.8        68.3      0.72
And                                417.5       426.5         9.0      1.21

WP09-4008      500E   218/55        26.5        81.1        54.6      0.94
And                                155.6       227.8        72.2      0.59

WP09-4009      450E    38/55         9.2       147.0       137.8      0.93
And                                178.5       199.5        21.0      0.51

WP09-4010      450E   218/55         6.9        32.0        25.1      0.93

WP09-4011      400E   218/60        31.0        52.0        21.0      0.68
And                                 98.0       143.0        45.0      0.74
And                                189.0       194.0         4.5      6.59

WP09-4012      400E   218/48        48.0        49.5         1.5     16.20
And                                103.5       127.5        24.0      1.91

WP09-4013      400E    38/59        93.5       120.5        27.0      1.16
And                                144.5       164.0        19.5      1.35

WP09-4014      450E   218/55        35.5        37.0         1.5     12.05

WP10-4015      500E   218/55        92.5       181.0        88.5      0.59

WP10-4016      550E   218/53        38.5        75.0        36.5      0.72

WP10-4017      600E   218/48       240.0       241.9         1.9      5.50

WP10-4018      200E   218/55       153.0       193.5        40.5      1.01
And                                237.0       238.5        1.50      9.62

WP10-4021      600E   218/60       275.7       325.5        49.8      0.67

WP10-4022      550E   218/55        86.4       145.0        58.6      1.01
including                           86.4        87.4         1.0     15.20
And                                255.0       305.5        50.5      0.64

WP10-4023      500E   218/55        47.0       244.2       197.2      0.82

WP10-4024      450E   218/59        14.3       110.5        96.2      0.80
And                                266.0       267.5         1.5     15.95
--------------------------------------------------------------------------

Holes WP09-4003, WP09-4005, WP10-4019, WP10-4020 and WP10-4025 did not intersect significant mineralization.

Sean Roosen, President and CEO of Osisko, commented: "The positive results from Western Porphyry, in addition to what Golden Valley Mines and Osisko have already reported from the Jeffrey Zone to the east, suggest there is excellent potential to add new ounces at Malartic. These deposits will most likely add future feed to the mill and thereby extend the life of the milling complex."

The drill data to date suggests the Western Porphyry Zone comprises a mineralized block 500 m long, 50 to 200 metres wide and 100 to 150 metres deep that is amenable to open-pit mining. The system is open at depth and further drill results of the 82-hole program will be issued as assays become available from the lab. Mineralization at Western Porphyry consists of fine disseminated/stockwork pyrite and gold in potassic and/or carbonate-altered porphyry and mafic/ultramafic volcanics. The porphyry-hosted mineralization is similar to that of the F Zone of the Canadian Malartic deposit. Occasional higher grade intersections (greater than 4 g/t Au) are related to classic Abitibi vein-type mineralization cutting the host lithologies.

All NQ 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 drill core weighted averages were calculated using a minimum of 0.40 g/t Au over successive maximum intervals of 20 metres with an upper cut-off of 30 g/t Au where indicated. Intersected drifts or lost core within mineralized intersections were incorporated as blank intervals.

Osisko follows strict QA-QC protocol measures in keeping with industry standards and regulatory reporting requirements. Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person who has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed including the sampling, analytical and test data underlying the technical information.