Eagle Gold Mine Operations Update

MONTREAL, June 25, 2024 (GLOBE NEWSWIRE) — Osisko Gold Royalties Ltd. (the “ Company ” Or ” Osisko “) (TSX and NYSE: OR) notes that its operating partner, Victoria Gold Corp. (Or ” Victoria “), announced yesterday that the heap leach platform at its Eagle gold mine (” Eagle ), located in the Yukon Territory, suffered a failure. Operations at Eagle have been temporarily suspended while Victoria continues to assess the situation. At this early stage, Victoria has confirmed that infrastructure has been damaged and part of the rupture has exited the containment zone. No staff members were injured during the incident. Osisko is monitoring the situation closely and plans to maintain an open line of communication with Victoria as more information becomes available. Osisko holds a 5% NSR royalty on Eagle until 97,500 ounces of gold have been delivered and a 3% NSR royalty thereafter. Osisko’s royalty covers the entire Dublin Gulch property, including the Eagle and Olive deposit mineral reserves, and all of Victoria’s most actively pursued exploration targets.

For further information, please see Victoria’s press release dated June 24, 2024.

About Osisko Gold Royalties Ltd.

Osisko Gold Royalties Ltd. is a midstream precious metals royalty company with a North America-focused portfolio of more than 185 royalties, metal streams and precious metals production purchase agreements, including 19 producing assets. Osisko’s portfolio is built on its key asset, a 3% to 5% net smelter return royalty from the Canadian Malartic complex, one of the largest gold operations in Canada.

Osisko is a company incorporated under the laws of the province of Quebec, its head office being located at 1100, avenue des Canadiens-de-Montréal, bureau 300, Montréal (Québec) H3B 2S2.

Forward-looking statements

Certain statements contained in this press release may be considered forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and that refer, without limitation, to future events, production estimates of Osisko’s assets (including increased production), in particularly production at Victoria Gold’s Eagle gold mine, the timely development of mining properties on which Osisko holds royalties, metal streams, metal flow agreements and investments, management’s expectations regarding Osisko’s growth, results of operations, estimates of future revenues, costs of production, carrying value of assets, ability to continue paying a dividend, additional capital requirements, prospects and opportunities business, future demand and fluctuations in commodity prices (including the outlook for gold, silver, diamonds, other commodities), the currency market and general market conditions. In addition, statements and estimates (including table data) relating to mineral reserves and resources, and statements and forecasts relating to gold equivalent ounces, are forward-looking statements because they involve the implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates or forecasts will be achieved. Forward-looking statements are generally, but necessarily, identified by the use of words such as “is expected”, “anticipates”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “schedule”, and other similar expressions or variations (including negative variations of these words or phrases), or which can be identified by statements to the effect that certain actions, events or conditions “will” happen, “could” or “should” happen. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, many of which Osisko does not control, and actual results could differ materially from the results anticipated in the forward-looking statements. These risk factors include, but are not limited to, (i) with respect to properties in which Osisko has a royalty, stream or other right; risks relating to: (a) operators of the properties, (b) timely development, obtaining permits, construction, commencement of production, ramp-up of production (including operational and technical challenges) in a timely manner, (c) differences in throughput and timing of production compared to mineral resource estimates or operators’ production forecasts, (d) differences in resource conversion rate in mineral reserves and the capacity to replace the resources, (e) the unfavorable outcome of any challenge or litigation concerning property titles, operating permits or licenses, (f) the risks and uncertainties associated with the activities of exploration, development and mining operations, including, but not limited to, unusual or unexpected geological and metallurgical conditions, slope failures or collapses, floods and other natural disasters or civil unrest or other hazards uninsured; (ii) with respect to external factors: (a) fluctuations in the prices of raw materials that support royalties, flows, metal flow agreements and investments held by Osisko, (b) fluctuations in the value of the Canadian dollar relative to the US dollar, (c) changes in national and local government regulations, including permitting and licensing regimes and tax policies; regulations and political or economic developments in any country in which the properties over which Osisko has a royalty, stream or other right are located or through which they are held, (d) the continued availability of capital and financing to Osisko or operators of the properties, and general economic, market or business conditions, and (e) responses of relevant governments to outbreaks of infectious diseases and the effectiveness of these responses, as well as the potential impact of infectious disease outbreaks on Osisko’s business, operations and financial condition; (iii) with respect to internal factors: (a) business opportunities which may or may not become available to Osisko, or which are pursued by Osisko, (b) the integration of acquired assets, (c) the determination Osisko’s PFIC status and (d) Osisko’s ability to meet its commitments related to its climate strategy. The forward-looking statements contained in this press release are based on assumptions that management believes to be reasonable, including that there will be no material change in the Company’s current revenues and assets with respect to determining its PFIC status; the absence of any other factor that could cause actions, events or results to differ from those anticipated, estimated or intended and, with respect to properties in which Osisko has a royalty, stream or other right , (i) the continued operation of the properties by the owners or operators of such properties in a manner consistent with past practices and public disclosure (including production forecasts), (ii) the accuracy of public statements and disclosures made by the owners or operators of such underlying properties (including development forecasts for underlying properties which are not yet in production), (iii) the absence of adverse development with respect to any material property , (iv) the accuracy of declarations and estimates relating to mineral reserves and resources made by owners and operators and (v) the implementation of an adequate plan for the integration of acquired assets. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section.

For further details regarding risks, uncertainties and assumptions, please see Osisko’s most recent annual information form filed with the Canadian securities commissions and available in electronic versions under Osisko’s issuer profile on SEDAR+, at www.sedarplus.comand with the Securities and Exchange Commission (“SEC”) in the United States, on EDGAR, at www.sec.gov. Osisko wishes to caution that the list of risks and uncertainties cited above is not exhaustive. Investors and others should carefully consider the above factors and the uncertainties they represent and the risk they involve. Osisko considers its assumptions to be reasonable based on the information available, but no assurance can be given that these expectations will be correct, as actual results may differ materially from anticipated results, as forward-looking statements include in this press release is not a guarantee of future performance and should not be unduly relied upon. These statements speak only as of the date of this press release. Osisko disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of receipt of new information, the occurrence of future events or otherwise, except as required by the law.