Osisko Development Corp. (“
Osisko Development” or
the “
Company”) (ODV TSX.V & NYSE) is pleased
to announce Williams Lake First Nation (“
WLFN”)
and Barkerville Gold Mines Ltd. (“
BGM”), the
Company’s 100% owned subsidiary, have entered into a participation
agreement (“
The Agreement”) relating to the
development of the Cariboo Gold Project (“
The
Project”), located within the traditional territory of the
WLFN.
The Agreement represents an important milestone
in our relationship and supports our mutual vision to develop a
socially and environmentally sustainable Project.The Agreement will
strengthen our long-term relationship through a framework for
working together predictably, collaboratively, and respectfully on
ongoing development matters while providing opportunities for
current and future generations of the WLFN to participate
meaningfully in the benefits of the Project. Osisko Development
would like to thank WLFN, BGM and our respective negotiating teams
for their efforts and commitment in realizing this
Agreement.Specific terms of the Project Agreement remain
confidential; however, it puts in place a thorough and
comprehensive process for the Project to be developed and operated
with the consent and support of the WLFN.
WLFN Chief, Willie Sellars reflected on the
growth of the relationship, “The Company has been proactive in
supporting a robust engagement process with WLFN that respects our
commitment to sustainable mining activity in our traditional
territory, particularly the QR Mill Site near Likely, BC, a key
processing location envisioned by the Project. The Agreement
provides WLFN with a seat at the table and the enhanced opportunity
to advance the principles of economic reconciliation, environmental
stewardship, and additional employment opportunities for WLFN
members.”
Vice President of Sustainable Development, Chris
Pharness comments, “Good relationships are key to any successful
endeavor. Osisko Development’s belief is that through the
foundation of respect, transparency, and reciprocity our
relationships will provide long-term, transformative outcomes for
our friends, partners, and ourselves. The spirit of our negotiation
and the signing of this agreement speaks to our desire to develop
opportunities through the collective sharing of culture and
worldview with the WLFN community, elders, and leadership.”
About Osisko Development
Corp.
Osisko Development is uniquely positioned as a
premier gold development company in North America to advance the
Cariboo Gold Project and other Canadian, U.S.A. and Mexican
properties, with the objective of becoming the next mid-tier gold
producer. The Cariboo Gold Project, located in central British
Columbia, Canada, is Osisko Development's flagship asset. The
considerable exploration potential at depth and along strike
distinguishes the Cariboo Gold Project relative to other
development assets. Osisko Development's project pipeline is
complemented by its interest in the San Antonio gold project,
located in Sonora, Mexico and the Trixie gold test mine, located in
Utah, U.S.A.
For further information, please contact
Osisko Development Corp.: Jean Francois Lemonde VP
Investor Relations jflemonde@osiskodev.com Tel: 514-299-4926
For further information, please contact
Williams Lake First Nation: Kirk DresslerDirector of Legal
and Corporate ServicesWilliams Lake First Nation 2561 Quigli
DriveWilliams Lake, BC V2G 0B1Tel: 778-417-0193
Forward-looking Statements
Certain statements contained in this press
release may be deemed “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 legislation. These forward‐ looking
statements, by their nature, require Osisko Development to make
certain assumptions and necessarily involve known and unknown risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied in these forward‐
looking statements. Forward‐ looking statements are not guarantees
of performance. Words such as “may”, “will”, “would”, “could”,
“expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”,
“continue”, or the negative or comparable terminology, as well as
terms usually used in the future and the conditional, are intended
to identify forward‐ looking statements. Information contained in
forward‐ looking statements is based upon certain material
assumptions that were applied in drawing a conclusion or making a
forecast or projection, including management’s perceptions of
historical trends, current conditions and expected future
developments, as well as other considerations that are believed to
be appropriate in the circumstances, and any other information
herein that is not a historical fact may be “forward looking
information”. Material assumptions also include, management’s
perceptions of historical trends, current conditions and expected
future developments, as well as other considerations that are
believed to be appropriate in the circumstances. Osisko Development
considers its assumptions to be reasonable based on information
currently available, but cautions the reader that their assumptions
regarding future events, many of which are beyond the control of
Osisko Development, may ultimately prove to be incorrect since they
are subject to risks and uncertainties that affect Osisko
Development and its business. Such risks and uncertainties include,
among others, risks relating to capital market conditions,
regulatory framework, the ability of exploration activities
(including drill results) to accurately predict mineralization;
errors in management’s geological modelling; the ability of to
complete further exploration activities, including drilling;
property and stream interests in the Project; the ability of the
Company to obtain required approvals; the results of exploration
activities; risks relating to exploration, development and mining
activities; the global economic climate; metal prices; dilution;
environmental risks; and community and non-governmental actions and
the responses of relevant governments to the COVID-19 outbreak and
the effectiveness of such responses. Readers are urged to consult
the disclosure provided under the heading "Risk Factors" in the
Company’s annual information form for the year ended December 31,
2021, as amended, which has been filed on SEDAR (www.sedar.com)
under the Company's issuer profile and on the U.S. Securities
Exchange Commission’s EDGAR website (www.sec.gov), for further
information regarding the risks and other factors applicable to the
exploration results. Although the Company’s believes the
expectations conveyed by the Forward-looking Statements are
reasonable based on information available at the date of
preparation, no assurances can be given as to future results,
levels of activity and achievements. The Company disclaims any
obligation to update any Forward-looking Statements, whether as a
result of new information, future events or results or otherwise,
except as required by law. There can be no assurance that these
Forward-looking Statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on Forward-looking Statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
Osisko Development (TSXV:ODV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Osisko Development (TSXV:ODV)
Historical Stock Chart
From Jul 2023 to Jul 2024