Osisko Metals Incorporated announced its 2021 exploration and development plans for Pine Point with a focus towards continuing to de-risk the project and bringing further improvements to the 2020 Preliminary Economic Assessment ('PEA'). Drilling will begin on January 14. Osisko Metals is planning a 3,000 meters winter campaign focused on infill and extension drilling in the Western Zone with the objective of converting the bulk of three high-priority prismatic deposits to the Indicated Resource category. Hydrogeological studies and tests planned across the property to further refine the dewatering model used in the 2020 PEA. Osisko Metals believes that improvements to the hydrogeological model could lead to substantial water management cost reductions over life of mine, including initial CAPEX, in future economic studies. Updated PEA and MRE in early 2022. With the potential for operational improvements and the incorporation of extension and infill drilling completed in 2020 and 2021, Osisko Metals will update the Pine Point PEA to better reflect sustained positive zinc and lead commodity prices. Submit EA Initiation Package to advance permitting in accordance with the project development timeline. The Environmental Assessment ("EA") Initiation Package, including the project Description as per the PEA, is expected to be submitted in February 2021. On receipt of a positive decision on the EA, expected in Third Quarter 2023, the project permitting phase will then commence and is expected to be completed by third quarter of 2024. 2020 PEA: After-tax NPV and IRR of $500M and 28.6% using conservative, long-term metal prices and smelting assumptions. With a CAPEX of $550M, Pine Point would produce, on average, over 350Mlbs of zinc during its first 6 years of operation. This would make Pine Point the eight largest zinc mine in the world. The proposed mine would have a ten-year life. However, with over a dozen individual deposit still open along strike, there is substantial potential to increase the mine life beyond the initial ten years. Expansion drilling the East Mill and Central Zone: in support of the opportunities identified in the PEA for resource and mine life expansion, Osisko Metals reported excellent results from its limited 2020 drill campaign in the O53 Drill hole O53-20-PP-012 intersected 28.80 metres grading 23.90% Zn and 6.24% Pb. The hole extends the deposit area. Highlights include: high-grade O53 prismatic mineralization approximately 10 metres below the currently modelled pit boundary in the immediate area of the hole. Drill hole OM13-20-001 intersected 4.80 metres grading 7.25% Zn and 1.45% Pb. This hole intersected well-developed, near surface Tabular style mineralization that potentially extends mineralization 800 metres west of the current western limit of the O53 deposit. Drill hole O53-20-PP-003 intersected 3.00 metres grading 8.45% Zn and 0.61% Pb and also indicates the presence of tabular mineralization 135 metres to the west of the O53 deposit, well outside the boundaries of the current pit-constrained resource model, indicating potential for a new tabular deposit extending westward at shallow depths.