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MONTREAL, QUEBEC--(Marketwire - Dec. 30, 2010) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES


Osisko Mining Corporation ("Osisko")(TSX:OSK)(FRANKFURT:EWX) announces that it has received from Ryan Gold Corp. ("Ryan Gold") 8,000,000 common shares and 4,000,000 common share purchase warrants (the "Warrants") following a merger between Ryan Gold and Ryan Gold Inc. in exchange for common shares and warrants held by Osisko in Ryan Gold Inc.


Each Warrant entitles its holder to purchase one common share for $1.15 during a period ending on November 19, 2013.


Ryan Gold's management has agreed to recommend the election of an Osisko representative to Ryan Gold's Board of Directors.


Osisko currently holds an aggregate of 8,000,000 common shares representing 9.90% of the total number of issued and outstanding common shares of Ryan Gold. Should the Warrants be fully converted, Osisko would hold 12,000,000 common shares or 14.14% of the total number of issued and outstanding common shares of Ryan Gold.


Osisko holds the common shares and the Warrants for investment purposes only and not with a view to materially affect the control of Ryan Gold. Osisko has no present intention of acquiring beneficial ownership or control over additional securities of Ryan Gold.



About Osisko Mining Corporation




Osisko Mining Corporation is currently developing the Canadian Malartic gold deposit in Quebec and evaluating adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Canadian Malartic deposit currently represents one the biggest permitted gold reserves in Canada, and is still growing through ongoing drilling on new mineralized zones. Current reserves for the Canadian Malartic property are 9.0 million ounces (see details in Osisko press release dated February 10, 2010). Osisko is also developing the Hammond Reef gold project near Atikokan Ontario through an aggressive definition drilling program of 350,000 metres. Hammond Reef is currently estimated to contain a National Instrument 43-101 compliant inferred resource of 6.70 million ounces of gold (259.4 million tonnes at a grade of 0.8 grams per tonne, using 0.3 grams per tonne cut-off), of which 97% lies within 300 metres of surface.