Osisko Previews Q4 2011 Canadian Malartic Operating Results

MONTREAL, QUEBEC--(Marketwire - Jan. 12, 2012) - Osisko Mining Corporation (the "Company" or "Osisko") (TSX:OSK)(FRANKFURT:EWX) is pleased to report a preview of Canadian Malartic operational results for the quarter ended December 31, 2011.

Fourth Quarter Operating Highlights

• Gold production of 79,718 ounces
• Total gold production of 200,137 ounces for first partial year 2011
• Increase in grade mined in fourth quarter averaging 0.96 g/t Au
• Recoveries continue to be higher than feasibility modeling at 88.3 percent for fourth quarter
• Crusher construction 60 percent complete as of December 31st and on schedule

Sean Roosen, President and Chief Executive Officer, commenting on the fourth quarter operating preview: "We saw steady increases in grade mined to average 0.96 g/t Au, which resulted in increased ounces produced in the fourth quarter. Recoveries also remain higher than anticipated in the feasibility study, averaging 88.3% over the past quarter. Construction of the pre-crush unit is progressing well and we anticipate its completion on schedule, which will allow us to achieve a strong operational year in 2012, our first full year of production."

Full operational and financial results for the fourth quarter 2011 will be made available on February 23th, 2012.

About Osisko Mining Corporation

Osisko Mining Corporation operates the Canadian Malartic Gold Mine in Malartic, Quebec and is pursuing exploration on a number of properties, including the Hammond Reef Gold Project in Northern Ontario.

Mr. Luc Lessard, Eng., Senior Vice-President and COO 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.