Osisko Development Announces the Vote Results from Its Annual Meeting of Shareholders

MONTREAL, May 13, 2021 (GLOBE NEWSWIRE) — Osisko Development Corp. (“Osisko Development” or the “Company”) (TSX.V-ODV) announces that, at the annual meeting of shareholders held on May 12, 2021, each of the 7 nominees listed in the management information circular filed on April 8, 2021 (the “Circular”) with regulatory authorities were elected as directors of the Corporation.

Election of Directors

Based on the proxies received and the votes by ballot, the following individuals were elected as directors of the Corporation until the next annual shareholders’ meeting, with the following results:

Appointment and Remuneration of Auditor

Based on the proxies received and the votes by ballot, PricewaterhouseCoopers, LLP, Chartered Professional Accountants, was appointed as independent auditor of the Corporation for the ensuing year and the directors are authorized to fix its remuneration, with the following results:

Approval of the Existing Stock Option Plan

Based on the proxies received and the votes by ballot with respect to the adoption of an ordinary resolution to approve the Corporation’s existing Stock Option Plan, the results are as follows:

About Osisko Development Corp.

Osisko Development Corp. is well-capitalized and uniquely positioned as a premier gold development company in North America to advance the Cariboo Gold Project and other Canadian and Mexican properties, with the objective of becoming the next mid-tier gold producer. The Cariboo Gold Project, located in central British Columbia, is Osisko Development’s flagship asset with measured and indicated resources of 21.44 Mt at 4.60 Au g/t for a total of 3.20 million ounces of gold and inferred resource of 21.69 Mt at 3.90 Au g/t for a total of 2.70 million ounces of gold (see NI 43-101 Technical Report for resource October 5th , 2020). The considerable exploration potential at depth and along strike distinguishes the Cariboo Gold Project relative to other development assets as does the historically low, all-in discovery costs of US $19 per ounce. The Cariboo Gold Project is advancing through permitting as a 4,750 tonnes per day underground operation with a feasibility study on track for completion in the second half of 2021. Osisko Development’s project pipeline is complemented by potential near-term production targeted from the San Antonio gold project, located in Sonora Mexico and early exploration stage properties including the Coulon Project and James Bay Properties located in Québec as well as the Guerrero Properties located in Mexico. Osisko Development began trading on the TSX Venture Exchange under the symbol “ODV” on December 2, 2020