Osisko Corporate Presentation - March 13, 2014

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Information about Osisko Corporate Presentation - March 13, 2014
Investor Relations

Published on March 13, 2014

Author: Osisko

Source: slideshare.net

March 2014 Canada’s Leading Intermediate Gold Producer

2 Forward Looking Statements Forward Looking Statements This presentation may include certain “forward-looking statements”. All statements other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of the company, are forward-looking statements that involve various risks, assumptions, estimates and uncertainties. These statements reflect the current internal projections, expectations or beliefs of Osisko Mining Corporation (“the Company”) and are based on information currently available to the company. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All of the forward looking statements contained in this presentation are qualified by these cautionary statements and the risk factors described above. Furthermore, all such statements are made of the date this presentation is given. An investment in the Company is speculative due to the nature of the Company's business. The ability of the Company to carry out its growth initiatives as described in this PowerPoint presentation is subject to risk factors which are described in more detail in the Company’s Annual Information Form filed with the securities commissions or similar authorities in certain of the provinces of Canada. Investors should not place undue reliance on forward-looking statements as the plans, intentions or expectations upon which they are based might not occur. Investors and others who base themselves on the Company's forward-looking statements should carefully consider such risk factors as well as the uncertainties they represent and the risk they entail. The Corporation also cautions readers not to place undue reliance on these forward- looking statements. The forward-looking statements contained in this report are expressly qualified by this cautionary statement. United States Securities Law Considerations The securities of the Company are not listed in the United States and this presentation shall not be construed as an advertisement or public offering of the securities to U.S. investors.

Hammond Reef Project (Atikokan, Ontario) • Global Au M&I resources of 5.4 M oz and 1.8 M oz inferred (3) • Permitting underway Canadian Malartic Mine (Malartic, Québec) Industry Leading Cash Flow and Growth Pipeline 3 • Indicated and inferred resources of 2.2 M oz Au and 1.9 M oz Au (2) Upper Beaver & Satellite Deposits (Kirkland Lake, Ontario) • Largest holdings in the Kirkland Lake Camp covering 230 km² Kirkland Lake Camp (Kirkland Lake, Ontario) Operations Advanced Exploration & Development Greenfield Exploration Guerrero Gold Belt (Guerrero State, Mexico) • 9,600 km2 of holdings in the GGB • Belt hosts over 30 million ounces in gold discoveries to date • Canada’s largest gold mine • Open-pit bulk tonnage operation • Premier mining jurisdiction • Low cost, reliable power • Reserves of 9.4 M oz Au (1) (1) NI 43-101 Proven and Probable Reserves: 281.2 Mt @ 1.04 g/t Au (2) NI 43-101 Measured and Indicated Resources: 12.9 Mt @ 4.98 g/t Au and Inferred Resources: 13.0 Mt @ 4.50 g/t Au (3) NI 43-101 Measured and Indicated Resources: 196.4 Mt @ 0.86 g/t Au; NI 43-101 Inferred Resources: 75.7Mt @ 0.72 g/t Au

4 2014 Canadian Malartic Reserves & Resources Source: Osisko Press Release (March 12, 2014) Category Tonnes (M) Grade (g/t) Au (Moz) Proven & Probable Reserves 281.2 1.04 9.37 Global M&I Resources (Including P&P Reserves) 327.0 1.06 11.10 Global Inferred Resources 48.1 0.75 1.16

5 12% Lower Gold Price Results in 2% Decrease in Reserves 10.1 9.4 Jan. 1 2013 Contained Gold Mined in 2013 Input parameters Jan. 1 2014 (0.5) (0.2) Canadian Malartic Reserves – 2013 vs. 2014 (koz) $1,475/oz Au $1,300/oz Au (~ 2%) Source: Osisko Press Release (March 12, 2014) Grade: 1.01g/t Grade: 1.04g/t

6 Canadian Malartic Reserves & Resources Western Porphyry Gouldie Canadian Malartic Barnat Jeffrey Charlie Canadian Malartic P&P Tonnes (Mt) 185.5 Grade (g/t) 0.98 Gold (M oz) 5.9 Barnat P&P Tonnes (Mt) 81.9 Grade (g/t) 1.22 Gold (M oz) 3.2 Jeffrey & Gouldie P&P Tonnes (Mt) 11.3 Grade (g/t) 0.71 Gold (M oz) 0.3 Source: Osisko Press Release (March 12, 2014)

7 Gold Price (US$) Cut-off (g/t) Grade (g/t) Tonnes (M) Oz (M) $1,000 0.42 1.18 218.8 8.31 $1,100 0.39 1.11 249.4 8.92 $1,200 0.36 1.07 268.1 9.24 $1,300 0.33 1.04 283.7 9.45 $1,400 0.31 1.01 301.6 9.79 $1,500 0.29 0.98 314.5 9.95 Sensitivity of the P&P Reserves to the Gold Price (Excluding Jeffrey Satellite Pit) Canadian Malartic is a Robust Deposit P&P Reserve Sensitivity to Gold Price Source: Osisko Press Release (March 12, 2014)

High Grade North Pit Wall Now Accessible 8 Canadian Malartic M&I Resource with Final Pit Design Canadian Malartic M&I Resource with Pit as at February 11, 2014 Main Deposit Barnat Zone Main Deposit 0.3 g/t cut-off 0.7 g/t cut-off 1.0 g/t cut-off Canadian Malartic M&I Resource Shell at :

2014 Production Outlook 9 200.1 388.5 475.3 2011A 2012A 525 - 575 2014E2013A Gold Production (k oz) Source: Osisko Press Release (March 12, 2014) 1. Includes ramp-up period Total gold production from the beginning of operations to Dec. 31, 2013 of 1,044,388 oz 1

10 2013 Operating Highlights Q4 2013 2013 Tonnes Ore Mined (t) 4,905,712 17,024,120 Tonnes Milled (t) 4,647,677 18,008,250 Au Grade (g/t) 1.04 0.92 Au Recovery (%) 88.6 88.9 Gold Production (oz) 137,321 475,277 Au Cash Costs (C$/oz) 713 760 Au Cash Costs (US$/oz) 679 738

11 January/February 2014 – Record Production  January  Record monthly gold production of 50,111 ounces  Monthly mill throughput of 1,521,164 tonnes  Average daily throughput of 49,070 tonnes per operational day  Average grade milled of 1.16 g/t Au  Average recovery of 88.6%  February  Record average daily gold production of 1,648 ounces  Production of 46,154 ounces for the month of February  Monthly mill throughput of 1,492,582 tonnes  Average daily throughput of 53,307 tonnes per operational day  Average grade milled of 1.10 g/t Au  Average recovery of 87.7%

$821 $892 $851 $833 $804 $781 $754 $713 Q3 '12Q1 '12 Q2 '12 Q4 '12 Q1 '13 Q4 '13Q2 '13 Q3 '13 $1,699 $1,627 $1,646 $1,698 $1,645 $1,434 $1,370 $1,341 1. Balances related to 2012 have been adjusted to reflect the impact of the adoption of IFRIC 20, Stripping Costs on the Production Phase of a Surface Mine. 12 Steady Production Growth, Steady Cost Reduction 91.2 92.0 103.8 101.5 106.0 111.7 120.2 137.3 Q3 '12Q1 '12 Q2 '12 Q4 '12 Q1 '13 Q4 '13Q2 '13 Q3 '13 Gold Production (k oz) Cash Costs1 (C$/oz) 2012: 388.5koz 2013: 475.3koz 2013: C$760/oz 2012: C$849/oz (11%) Realized Gold Price (C$/oz)

• Added crushing capacity • Improved mill availability • Showing steady progress on throughput • Metallurgical recoveries exceeding expectations 13 Mill Production Progress 35.7 38.1 43.2 47.5 48.7 52.6 54.1 54.0 Q3 '12Q1 '12 Q2 '12 Q4 '12 Q1 '13 Q4 '13Q2 '13 Q3 '13 1. In Q1 2012, the mill was shut down for a seven-day period for the installation of the first unit of the secondary crusher and one day for maintenance. 2. In Q2 2012, the mill was shut down for a six-day period following a fire at the mill. 3. In Q3 2012, the mill was shut down for a scheduled five-day period for a liner change (secondary crushers, SAG and ball mills). 4. In Q4 2012, the mill was shut down 6 days for scheduled maintenance and the second pebble installation. The throughput at the mill was reduced at 42,000 tonnes per day for a 15-day period during the installation of the second pebble crusher. 5. In Q1 2013, the mill was shut down for 3 days for maintenance on the conveyor and for SAG mill liner change. 6. In Q2 2013, the mill was shut down for 6.5 days, including 5.5 days for scheduled maintenance. 7. In Q3 2013, the mill was shut down for 5.5 days for scheduled maintenance. 8. In Q4 2013, the mill was shut down for 6 days for scheduled maintenance. Mill Throughput (Avg. tonnes per operating day) 5 Au Recovery Q1 ' 12 Q2 ' 12 Q3 ' 12 Q4' 12 Q1' 13 Q2' 13 Q3' 13 Q4' 13 91.2% 89.2% 88.7% 88.8% 88.0% 89.7% 89.2% 88.6% 1 2 3 4 6 7 8 • Added crushing capacity • Improved mill availability • Showing steady progress on throughput • Metallurgical recoveries exceeding expectations 2013 Progress

10.57 8.84 10.37 9.04 2.31 2.14 2012(1) 2013 Mining(2) Milling G&A $23.24 $20.02 Cost Improvement 14 • Mining costs: – Last on-surface crown pillar blasted in December • Setting the stage to extract higher volumes from the north wall – Impact on costs due to priority given to the northern area of the pit (smaller blasts, presence of open stopes, remote operation of equipment). • Milling costs: – Lower liner wear – Lower grinding media costs • Q4 cost per tonne mined: $3.03 (2013: $2.72) Operating Costs per Tonne Milled (C$/t milled) Cost Performance Before transport and refining, royalties, share based compensation and silver credits 1. Balances related to 2012 have been adjusted to reflect the impact of the adoption of IFRIC 20, Stripping Costs on the Production Phase of a Surface Mine. 2. Includes variation in stockpile inventory. 8.72 9.66 10.01 9.38 1.92 2.12 Q4 '12 Q4 '13 Mining(2) Milling G&A $20.66 $21.16

Optimization Program – Delivering on the Plan 15 Program Q4 2013 Avg. % Increase / (Decrease) Over Q4 20121 Increase avg. Daily Mill Throughput  54,043 tpod  +14% Reduce Quarterly avg. Cash Costs  C$713/oz  US$679/oz  (14%) – C$  (19%) – US$ Optimization efforts will continue to deliver benefits 1. Percent increase/decrease compares Q4 2013 average to Q4 2012 average.

$72.5 $261.6 Q4 '13 2013 Strong Cash Flow Generation 16 Operating Cash Flow (C$ million) $53.7 $190.3 Q4 '13 2013 Earnings from Mine Operations (C$ million)

Best Free Cash Flow Yield in the Sector 17 Source: Credit Suisse First Boston 2013 Q3 YTD Free Cash Flow Yield (%) 5% 1% (2%) (5%) (6%) (7%) (8%) (9%) (10%)(10%) (20%)(22%) (27%) (58%) Alamos Eldorado NewGold AgnicoEagle Newmont Yamana Barrick Kinross Goldcorp Aurico GoldenStar IAMGOLD DetourGold Osisko

• Lenders are also shareholders of Osisko and strong supporters of Québec/Canada mining companies – Government of Québec (Ressources Québec) – CPPIB – Caisse de dépôt et placements du Québec – FTQ – Caterpillar 18 Summary of Credit Facilities Lender Type Q4 ’13 Principal (Before Interest) Interest Rate Caterpillar Finance Lease Facility $89.5 M Libor + 2.75 % & 3.65% Caterpillar Facility for Major Components Term Loan $7.9 M 0% FTQ Term Loan $6.7 M 9.5 % CPPIB Term Loan $150 M 6.875% R.Q. / C.D.P.Q. Convertible Debenture $75 M 6.875 % (Convertible at $6.25/share)

19 Financial Position (C$ millions) Dec. 31, 2012 Dec. 31, 2013 Cash1 $155.5 $210.5 Working Capital $92.0 $132.4 Debt2 $337.4 $317.0 Total Assets $2,687.9 $2,222.0 Shareholders’ Equity $2,162.0 $1,731.1 Net Debt $194.8 $118.7 1. Includes cash and cash equivalents, restricted cash and short-term investments. 2. Includes CPPIB debt facility, Ressources Québec and CDPQ convertible debt, FSTQ debt facility, Caterpillar equipment finance lease and Caterpillar Finance Commercial Account. Demonstrating Canadian Malartic’s ability to build cash, service & repay debt

20 Creating a Dominant Land Position in World Class Mining Camps 130 km ~ 12% Wood Pandora (50%)/ Pandora (100%)

Strategic Land Package in the Kirkland Lake/ Larder Lake District 21 35 M oz of historic gold production in the district – Single biggest property in district history 230km2 hosting five deposits with disclosed NI 43-101 resources Canadian Kirkland

Canadian Kirkland 22 Hole No. From (m) To (m) Length (m) Au g/t MU14-25 110.0 211.6 101.6 0.99 And 243.0 306.0 63.0 1.43 (Diluted) 110.0 306.0 196.0 1.02 MU14-26 83.0 105.0 22.0 0.59 And 274.0 284.0 10.0 3.03 MU14-27 52.0 85.0 33.0 0.46 And 138.0 164.0 26.0 1.66 And 243.7 298.0 54.3 0.46 MU14-28 39.6 168.0 128.4 2.26 And 211.0 226.0 15.0 1.01 And 244.0 261.0 17.0 0.47

• Objective: – Discover and develop several > 5.0 M ounce Au deposits 100% controlled by Osisko • Large Land Package – 11,800 km2 area covered with dense stream sediment sampling, reconnaissance field prospecting and partial airborne geophysics – 9,600 km2 of tenements • Strong Potential for Discoveries – Au – Cu, Porphyry – skarns and sediment hosted Au targets – Over 100 Au follow up targets identified 23 Mexico Exploration Program Two new gold trends identified (130 km and 30 km long) 3 targets are at drill stage - 1 target is being drilled

24 Large Land Position in the Guerrero Gold Belt

25 Pandora (100%) / Wood Pandora (50%) • 2014 Highlights of a seven-hole, 1500 metre program on the 100% owned Pandora property: – 45.4 metres at 1.81 g/t Au (hole PN14-03) – 34.7 metres at 4.57 g/t Au (hole PN14-05) – 58.5 metres at 1.09 g/t Au (hole PN14-06)

26 Reject the Goldcorp Hostile Offer

0% (4%) Market Adjusted Goldcorp Premium to Pre-Announcement Price Current Offer Discount to OSK Share Price 30% Osisko Peers Performance Since Goldcorp Offer Goldcorp’s Offer is a ZERO Premium Offer Note: Peers include Agnico Eagle, Alacer, Alamos, AuRico, B2Gold, Detour, Eldorado, IAMGOLD, Randgold and New Gold. 27 30% Offer Premium to Pre- Announcement Price

$13.19 $23.48 Goldcorp Osisko 0.107 0.154 Goldcorp Osisko 2.2 3.3 Goldcorp Osisko 28 Osisko Offers Significantly Better Value Than Goldcorp Source: Company disclosure and FactSet. Gold Reserves (oz) 2013 Gold Production (oz) 2013 Q4 Operating Cash Flow (C$) Per $1,000 invested… Osisko better by 46% Osisko better by 44% Osisko better by 78%

29  Osisko is better at building mines  Osisko is a better operator in Québec  Osisko has a better track record of shareholder value creation  Osisko is still significantly better value than Goldcorp Reject the Goldcorp Hostile Offer Goldcorp’s Offer is Inadequate

51% 70% 18% 56% 134% 132% -- 0.25 0.50 2.50 2.50 4.25 30 Better Builders • Canadian Malartic built on time and on budget • Osisko has not materially financed since 2009 • Osisko shareholders to benefit from 16 years of significant production and free cash flow Estimated Construction Delay (years) Estimated Cost Overrun as a % of Dev. Capex Source: Company disclosure.

Osisko’s Fast Track to Production Six Years from Discovery to First Gold Pour 31 Oct. 2004 Purchase of Canadian Malartic Property First Drill Hole Initial Resource Calculation Feasibility Study Government Decree & Construction Release Completion of Construction First Gold Pour Commercial Production Commencement First Full Year of Operations 2013 Gold Production of ~475 koz at C$760/oz Mar. 2005 Dec. 2006 Nov. 2008 Aug. 2009 Mar. 2011 Apr. 2011 May. 2011 Dec. 2012 Dec. 2013 Canadian Malartic Mine Produces Millionth Ounce

Canadian Malartic Éléonore Construction Timeline 18 Months 36 Months Development Capex $1 Billion (On time and on budget) (~150-170% higher than initial budget) Annual Production 574k oz Au 600k oz Au Capex Per Annual Production $1,707/oz ~$3,000-$3,200/oz $1.8 - 1.9 Billion $0.7 Billion 32 Better in Québec Source: Company disclosure. If they had let the Osisko team build Éléonore, would have saved shareholders ~$300 million

Canadian Malartic Éléonore Share Price on Acquisition vs. Current Current Value of a $1 Million Investment Made at Time of Acquisition Shareholder Return 6,930% 29% $0.10 $7.03 Share Price on Acquisition Current $23.78 $30.67 Share Price on Acquisition Current Current Current $1.3MM $70.3MM 33 Better Historical Shareholder Value Creation Source: Company disclosure and Bloomberg.

• Goldcorp has said it believes Canadian Malartic will command greater value in the Goldcorp portfolio than in a company with a single dominant producing mine • However, Goldcorp itself had better share price performance as a primarily single asset company before its merger with Wheaton River Minerals – Transaction was announced December 6, 2004 34 High-quality Single Asset Companies Generate Superior Returns Goldcorp Performance vs. S&P/TSX Index Before December 6, 2004 Goldcorp Performance vs. S&P/TSX Index After December 6, 2004 273% 352% 263% 75% 6 Years Prior 5 Years Prior 4 Years Prior 3 Years Prior 16% 43% 133% (5%) 1 Year After 3 Years After 5 Years After To January 17, 2014 Source: Bloomberg.

Goldcorp’s Prior Proposals Would Have Been Value Destructive 35 Source: Bloomberg 1. Value based on proposal exchange ratio and Goldcorp’s share price factoring in dividend reinvestment between the proposal date and January 17, 2014 Date Goldcorp Proposal Implied Value Per Osisko Share (1) Discount to Current Share Price November 2008 0.0661x C$1.78 (72%) April 2009 0.1805x C$4.85 (25%) September 2009 0.2200x C$5.89 (9%) AVERAGE (36%) In all prior cases, Osisko shareholders realized higher returns as a result of the decision not to pursue prior Goldcorp proposals

36 Appendix: Canadian Malartic

37 2013 Operational Performance 2013 Q1 Q2 Q3 Q4 2013 Tonnes Ore Mined (t) 4,090,870 3,604,314 4,423,224 4,905,712 17,024,120 Tonnes Milled (t) 4,234,001 4,444,042 4,682,530 4,647,677 18,008,250 Au Grade (g/t) 0.88 0.87 0.90 1.04 0.92 Au Recovery (%) 88.0 89.7 89.2 88.6 88.9 Gold Production (oz) 106,047 111,701 120,208 137,321 475,277 Ag Grade (g/t) 0.86 1.12 1.09 1.06 1.04 Ag Recovery (%) 71.5 69.5 68.4 72.9% 70.5% Silver Production (oz) 83,597 110,823 112,637 115,562 422,619 Au Cash Costs (C$/oz) 804 781 754 713 760 Au Cash Costs (US$/oz) 798 765 726 679 738

Mining and Milling Summary 38 Q4 Tonnes mined (Mt) Ore tonnage 4.9 Waste tonnage 9.0 Topographic drilling 0.9 Total 14.8 Strip ratio (W:O) 2.02 Q4 Stockpiles (Mt) Opening balance 2.2 Ore sent to stockpile 1.7 Ore sent to mill (1.4) Ending balance 2.5 Q4 Tonnes milled (Mt) Ore from mine 3.2 Ore from stockpile 1.4 Total 4.6 Capitalized Waste (Mt) 1.2 YTD Tonnes mined (Mt) Ore tonnage 17.0 Waste tonnage 36.5 Topographic drilling 4.9 Total 58.4 Strip ratio (W:O) 2.43 YTD Stockpiles (Mt) Opening balance 3.5 Ore sent to stockpile 5.9 Ore sent to mill (6.9) Ending balance 2.5 YTD Tonnes milled (Mt) Ore from mine 11.2 Ore from stockpile 6.8 Total 18.0 Capitalized Waste (Mt) 10.0 0.3 (1.0)

39 2013 Mill Performance Total Available Hours Operating Hours % Tonnage (t) Tonnes per Hour Tonnes per Operating Day Tonnes per Calendar Day Q1 20131 2,160 2,082 96 4,234,001 2,033 48,667 47,044 Q2 20132 2,184 2,014 92 4,444,042 2,207 52,592 48,836 Q3 20133 2,208 2,061 93 4,682,530 2,272 54,133 50,897 Q4 20134 2,208 2,054 93 4,647,677 2,263 54,043 50,518 1. In Q1 2013, the mill was shut down for 3 days for maintenance on the conveyor and for SAG mill liner change. 2. In Q2 2013, the mill was shut down for 6.5 days including 5.5 days for scheduled maintenance. 3. In Q3 2013, the mill was shutdown for 5.5 days for scheduled maintenance. 4. In Q4 2013, the mill was shutdown for 6 days for scheduled maintenance.

40 2013 Mine Performance Ore (t) Waste1 (t) Total Mined (t) Rehandling (t) Total Moved (t) Overburden (t) Strip Ratio (W:O) Q1 2013 4,090,870 10,157,993 14,248,863 1,626,651 15,875,514 1,783,318 2.48 Q2 2013 3,604,314 10,009,579 13,613,893 2,036,802 15,650,695 870,567 2.78 Q3 2013 4,423,224 11,334,861 15,758,085 1,767,601 17,525,686 304,535 2.56 Q4 2013 4,905,712 9,907,438 14,813,150 1,419,571 16,232,721 159,592 2.02 1. Including topographic drilling of 4.9 million tonnes in 2013.

2013 Capex: Delivered on Reduction Program 41 • Q4 capital investments of $20.3M (excluding $5.1M in capitalized stripping activity and ($0.2M) variation in accounts payable) • Canadian Malartic – Sustaining capital: $7.4M – Topographic drilling and overburden: $5.2M – CM Expansion $3.7M • Hammond Reef: nil • Upper Beaver $0.5M • Exploration: $3.5M Q4 2013 Capital Expenditures YTD Expenditures1 vs. Full Year 2013 Budget 2013A Revised 2013 Budget Original 2013 Budget Canadian Malartic $82.5 $80.8 $98 Hammond Reef $5.5 $7.0 $10 Upper Beaver $8.5 $18.5 $70 Exploration $27.2 $31.6 $42 Total $123.7 $137.9 $220 1. Excluding variation in accounts payable and accrued liabilities related to 2012 capital expenditures for $18.8 million for 2013. *Table above excludes YTD capitalized stripping activity of $40.0M (also excluded from budget)

• EIA required for deviation of the 117 highway and for mining permits – Public hearings (BAPE) process to be scheduled (mid 2014) 42 Barnat Expansion

176,395 171,986 190,497 176,443 Q4 '13Q2 '13 Q3 '13Q1 '13 43 Mine Production • Improved access due to modified operating parameters • 2013 • 179,000 tpd • Strip ratio: 2.43 • Continued downtime of equipment and postponed blasts due to adverse wind conditions • 3 blasts over surface pillars executed with success in Q4 • There are no more surface pillar blasts after 2013 Mine Production (ore + waste) (Avg. tonnes per day) 2013 Progress

77% 73% 79% 84% 69% 77% 65% 68% Shovels Loaders Drills Production Trucks Availability Utilization 44 Q4 Mining Fleet Availability/Utilization • Equipment Utilization  6% downtime due to noise and weather in Q4 (2013: 4%) • Remote operated shovel commissioned (Q3) • Continue to work with key supplier to improve availability and utilization Availability & Utilization (%) Mining Fleet • Utilization = Operational hours / Available hours • Available Hours = Total hours – Maintenance • Operational hours = Available hours less blasting, shift changes, operator breaks, downtime due to weather & noise, etc.

45 Appendix: Kirkland Lake

46 Upper Beaver Ounces per Vertical Metre Increasing at Depth (1,200) (1,000) (800) (600) (400) (200) 0 200 400 0 500 1,000 1,500 2,000 2,500 3,000 3,500 Elevation(m) Ounces per Vertical Metre

• 6m diameter concrete lined shaft planned to depth of 1,300m – Collar construction complete (30m depth) • Construction of head frame + hoist room currently deferred 47 Shaft Sinking Program at Upper Beaver

Excellent Growth Prospects 48 • Four other 100%-owned deposits: Upper Canada, Anoki/McBean, Bidgood and AK • Ore from these satellite deposits may provide future mill feed, flexibility and a longer LOM • Each deposit displays resource expansion potential • Resource update in progress for Upper Canada (200+ holes drilled since last update) Note: Upper Beaver resource based on gold equivalent using long-term metal prices of US$1,300/oz Au and US$3.00/lb Cu (98% Au and 90% Cu recovery).

49 Appendix: Hammond Reef

• Global M&I resources stand at 5.43 M oz Au at an average grade of 0.86 g/t Au and the global inferred resource stands at 1.75 M oz Au at an average grade of 0.72 g/t Au (at a 0.5 g/t Au lower cut-off) • In-pit M&I resource of 5.31 M oz at 0.72 g/t Au and an in-pit inferred resource of 0.28 M ounces at 0.65 g/t Au, with a low waste/ore strip ratio of 1.01 50 Hammond Reef Resource Update (Jan. 2013) Category Grade Tonnes Cut-off Gold Au g/t (M) Au g/t (Moz) Measured 0.90 123.5 0.5 3.59 Indicated 0.78 72.9 0.5 1.83 M+I 0.86 196.4 0.5 5.43 Inferred 0.72 75.7 0.5 1.75 Measured 0.74 184.7 0.3 4.38 Indicated 0.55 174.4 0.3 3.09 M+I 0.65 359.1 0.3 7.47 Inferred 0.52 185.2 0.3 3.12 Source: Osisko press release (January 28, 2013) Sensitivity of the In-pit Resource to the Au PriceGlobal Resource Estimate Category Au Price Grade Tonnes Cut-off Gold US$/oz Au g/t (M) Au g/t (Moz) M+I $1,400 0.72 229.5 0.32 5.31 Inferred $1,400 0.65 13.3 0.32 0.28 M+I $2,000 0.58 419.7 0.23 7.87 Inferred $2,000 0.49 136.1 0. 23 2.12 • 76% of the in-pit resource is contained in the Measured category

51 Hammond Reef Project Source: Osisko press release (January 28, 2013) • One of the most advanced undeveloped projects in Canada • Defined resource (629,000 meters) • Resource Sharing Agreements completed in 2010 • MOU signed with Métis Nation of Ontario in 2012 • Final cycle of EIA initiated • Opportunities for Canadian tax synergies

52 Appendix: Financial

3 Months Ended 12 Months Ended (C$ 000) Dec. 31, 2013 Dec. 31, 20121 Dec. 31, 2013 Dec. 31, 20121 Revenues $185,774 $191,080 $675,648 $665,375 Mine Operating Costs - Production Costs - Royalties - Depreciation (94,876) (2,422) (34,791) (95,307) (2,546) (20,058) (359,182) (8,832) (117,358) (332,417) (8,924) (64,920) Earnings from Mine Operations $53,685 $73,169 $190,276 $259,114 General and Administrative Expenses (10,149) (8,411) (32,371) (29,361) Exploration and Evaluation Expenses (2,847) (3,345) (12,966) (10,833) Write-off of Property, Plant and Equipment (950) -- (17,950) (617) Impairment of Property, Plant and Equipment -- -- (530,878) -- Earnings (Loss) from Operations $39,739 $61,413 ($403,889) $218,303 Other Expenses – Net (15,135) (25,990) ($49,132) ($48,120) Earnings (Loss) Before Income and Mining Taxes $24,604 $35,423 ($453,021) $170,183 Income and Mining Tax Recovery (Expense) (14,116) (22,557) (2,082) (79,395) Net Earnings (Loss) for the Period $10,488 $12,866 ($455,103) $90,788 Net Earnings (Loss) per Share $0.02 $0.03 ($1.04) $0.23 53 2013 Statement of Income 1. Balances related to 2012 have been adjusted to reflect the impact of the adoption of IFRIC 20, Stripping Costs on the Production Phase of a Surface Mine.

54 Capitalized Stripping – IFRIC 20 IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine • 5 production phase components were identified for the Canadian Malartic deposit • Canadian Malartic pit – Phase 1, Phase 2 and Phase 3 • Jeffrey zone • Gouldie zone • Currently mining from Phase 1 and Phase 2 only • The mining costs and overhead costs related to mining operations were distributed between Phase 1 and Phase 2 • For months where the strip ratio of a component exceeds the component life strip ratio, the costs associated to the exceeding amount of waste removed are capitalized

55 Capitalized Stripping – IFRIC 20 IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine Strip Ratio Component life Q1 2013 Q2 2013 Q3 2013 Q4 2013 YTD 2013 Phase 1 2.19 1.36-2.73 Average: 1.81 1.29-4.06 Average: 1.92 0.87-2.59 Average: 1.70 1.39-1.75 Average : 1 .60 0.87-4.06 Average: 1.71 Phase 2 1.56 2.99-6.01 Average: 3.99 1.44-7.97 Average: 2.93 2.60-7.30 Average: 5.49 1.95-3.49 Average: 2.33 1.44-7.97 Average: 3.35 Impact Q1 2013 Q2 2013 Q3 2013 Q4 2013 2013 Cash cost per ounce (69/oz) (95/oz) (133/oz) (37/oz) (84/oz) Increase in Stripping Activity Asset +$7.4M +11.5M +16.0M +5.1M +$40.0M

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... including corporate ... of the date of this presentation. ... dated March 20, 2014 titled “Osisko Updates Canadian Malartic Mine Plan ...
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Osisko Gold Royalties ... including corporate law, ... These statements speak only as of the date of this presentation.
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Goldcorp Inc. - Goldcorp announces settlement of Osisko ...

... 2014. Osisko has also agreed to waive ... October 13, 2014 2014 ... 2013 2015 Annual Information Form 1.43 MB. October 17, 2011 Corporate Presentation ...
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Osisko Investor Day Thursday March 20 - Yahoo Finance Canada

Read 'Osisko Investor Day Thursday March 20' on Yahoo ... invites analysts and investors to attend Osisko's "Investor Day" presentation and ...
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