Osisko Concludes SGF Financing Agreement for $75 M

MONTREAL, QUEBEC, Nov 09 (MARKET WIRE) --
Osisko Mining Corporation ("Osisko") (TSX: OSK)(FRANKFURT: EWX) is
pleased to announce that it has concluded the previously announced $75
million financing agreement with Societe generale de financement du
Quebec ("SGF"). The financing is a senior non-guaranteed debenture,
convertible at the discretion of the SGF into Osisko shares at a price of
$9.18 per share. It carries an interest rate of 7.5%. The initial capital
is to be reimbursed no later than November 9, 2014. The proceeds will be
used to fund the construction and the development of the Canadian
Malartic Project.

Mr. Sean Roosen, President and Chief Executive Officer of Osisko stated:
"We are extremely pleased to have SGF as a financial partner in the
development of the Canadian Malartic Project. This Project has a
significant impact on the Quebec economy, in particular the
Abitibi-Temiscamingue region, and will provide long-term benefits to
Malartic with the creation of some 465 permanent jobs for more than 10
years."

About SGF

Societe generale de financement du Quebec (www.sgfqc.com) is an
industrial and financial holding company. Its mission is to carry out
economic development projects, with emphasis on the industrial sector, in
cooperation with partners and in accordance with accepted requirements
for profitability and the Government of Quebec's economic development
policy. As part of its new mandate, SGF is authorized by the Government
of Quebec to expand its traditional role as a share capital investor by
offering complementary solutions, such as loans, debentures, or preferred
share capital investments.

About Osisko

Osisko Mining Corporation is currently developing the Canadian Malartic
gold deposit and adjacent mineralized zones into a large-scale open pit,
bulk-tonnage mining operation. The Company is carrying out an aggressive
mine development, reserve definition and exploration campaign. The
Canadian Malartic deposit currently represents one the biggest gold
reserves in Canada for a single deposit, and is still growing through
ongoing drilling on new mineralized zones. Current reserves for the
Canadian Malartic property are 6.28 million ounces, plus (including the
Barnat deposit) a measured and indicated resource of 3.65 million ounces
and an inferred resource of 0.84 million ounces.

Cautionary Notes Concerning Estimates of Mineral Resources

This news release uses the terms measured, indicated and inferred
resources as a relative measure of the level of confidence in the
resource estimate. Readers are cautioned that mineral resources are not
economic mineral reserves and that the economic viability of resources
that are not mineral reserves has not been demonstrated. In addition,
inferred resources are considered too geologically speculative to have
any economic considerations applied to them. It cannot be assumed that
all or any part of an inferred mineral resource will ever be upgraded to
a higher category. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of feasibility or pre-feasibility
studies or economic studies except for Preliminary Assessment as defined
under NI 43-101. Readers are cautioned not to assume that that further
work on the stated resources will lead to mineral reserves that can be
mined economically.

Forward Looking Statements

Certain statements contained in this press release may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical fact, that address events or developments that
the Corporation expects to occur, are forward looking statements. Forward
looking statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects",
"potential", "scheduled" and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur. Although
the Corporation believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
including, without limitation that all technical, economical and
financial conditions will be met in order to put the Canadian Malartic
Project into commercial production, such statements are not guarantees of
future performance and actual results may differ materially from those in
forward looking statements. Factors that could cause the actual results
to differ materially from those in forward-looking statements include
gold prices, access to skilled consultants, mining development and mill
production personnel, results of exploration and development activities,
the Corporation's limited experience with production and development
stage mining operations, uninsured risks, regulatory changes, defects in
title, availability of personnel, materials and equipment, timeliness of
government approvals, actual performance of facilities, equipment and
processes relative to specifications and expectations, unanticipated
environmental impacts on operations market prices, continued availability
of capital and financing and general economic, market or business
conditions. These factors are discussed in greater detail in the
Corporation's most recent Annual Information Form filed on SEDAR, which
also provides additional general assumptions in connection with these
statements. The Corporation cautions that the foregoing list of important
factors is not exhaustive. Investors and others who base themselves on
the Corporation's forward-looking statements should carefully consider
the above factors as well as the uncertainties they represent and the
risk they entail. The Corporation believes that the expectations
reflected in those forward-looking statements are reasonable, but no
assurance can be given that these expectations will prove to be correct
and such forward-looking statements included in this press release should
not be unduly relied upon. These statements speak only as of the date of
this press release.

Contacts:
Osisko Mining Corporation
John Burzynski
Vice-President Corporate Development
514-735-7131

Osisko Mining Corporation
Sylvie Prud'homme
Investor Relations
514-735-7131
Toll Free: 1-888-674-7563
www.osisko.com

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