MONTREAL, QUEBEC--(Marketwired - Feb. 4, 2014) - Osisko Mining Corporation ("Osisko" or the "Company") (TSX:OSK)(FRANKFURT:EWX) reports on developments today in the proceeding (the "Proceeding") it commenced against Goldcorp Inc. ("Goldcorp") in the Québec Superior Court on January 29, 2014, in response to Goldcorp's hostile take-over bid that was made on January 14, 2014 (the "Hostile Bid").

In the Proceeding, Osisko alleges that, in making the Hostile Bid, Goldcorp misused confidential information and otherwise acted in a manner not permitted by the confidentiality agreement between the parties (the "Confidentiality Agreement"). Osisko also alleges that, prior to launching the Hostile Bid, Goldcorp acted in bad faith and in a manner contrary to applicable law. In the Proceeding, Osisko seeks an order enjoining the Hostile Bid and further conduct by Goldcorp that Osisko alleges is in breach of the Confidentiality Agreement.

The Québec Superior Court today held a hearing to schedule additional steps in the Proceeding. The Court fixed a timetable under which the merits of Osisko's complaints against Goldcorp will be determined at a trial to be held in Montréal from March 3 to 5, 2014. In connection with the scheduling of the trial, Goldcorp has undertaken that it will not, prior to March 6, 2014, apply to the Bureau de décision et de révision to cease trade Osisko's shareholder rights plan, which was approved by Osisko's shareholders in 2013 with the support of over 97% of shareholders voting. Goldcorp has also undertaken, prior to the release of the Court's judgment from trial, not to take up and pay for Osisko shares tendered to the Hostile Bid.

The Hostile Bid is currently scheduled to expire on February 19, 2014. As previously stated, including in its recent Directors' Circular, Osisko's Board of Directors believes that the Hostile Bid is opportunistic and financially inadequate and threatens to deprive Osisko's shareholders of adequate consideration for their shares. As such, the Board of Directors has unanimously recommended that Osisko shareholder REJECT the Hostile Bid and NOT TENDER their Osisko shares to the Hostile Bid.

The Company's Board of Directors is aggressively pursuing value maximizing alternatives that are in the best interests of Osisko, the Osisko shareholders and other stakeholders

http://www.marketwired.com/press-release/osisko-provides-corporate-update-tsx-osk-1875786.htm