Osisko Mining Corporation Responds to Unsolicited Proposal From Goldcorp Inc.

Marketwired

MONTREAL, QUEBEC--(Marketwired - Jan. 15, 2014) - The Board of Directors of Osisko Mining Corporation ("Osisko" or the "Corporation") (OSK.TO)(EWX.F) has received the takeover bid circular published by Goldcorp Inc. ("Goldcorp") regarding its unsolicited proposal to acquire all of the common shares of Osisko (the "Offer"). 

Osisko will continue to review the Offer and will communicate with its shareholders as appropriate.

Osisko's Board of Directors noted that the 15% premium to Osisko's unaffected share price implied by Goldcorp's Offer is very low and the price opportunistic in light of Osisko's proven high quality asset base. Osisko's Board of Directors remains committed to delivering superior value for shareholders and all stakeholders and will continue to pursue all initiatives to that end.

Osisko's Board of Directors has formed a Special Independent Committee including five independent members. The Special Independent Committee has retained Stikeman Elliott LLP as its legal adviser.

BMO Capital Markets and Maxit Capital LP are acting as financial advisers to the Corporation. Canadian legal counsel to the Corporation is Bennett Jones LLP and U.S. counsel is Skadden, Arps, Slate, Meagher & Flom LLP. 

Shareholders are reminded that the Corporation recommends that shareholders defer taking any action in respect of the Offer until the Board of Directors of the Corporation makes a recommendation as to the merits of the Offer.

About Osisko Mining Corporation

Osisko Mining Corporation operates the Canadian Malartic Gold Mine in Malartic, Quebec and is pursuing exploration on a number of properties in Ontario and Mexico.

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 including, without limitation, the possibility of any business combination being proposed, the results of any review of any such proposal. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including, without limitation that any business combination transaction will ultimately be proposed, the results of the review of any such proposal, 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 the content of any business combination proposal, gold prices, the Corporation's limited experience with production and development stage mining operations, uninsured risks, regulatory changes or sanctions, defects in titles, 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.

Contact:
John Burzynski
Vice-President Corporate Development
(416) 363-8653
www.osisko.com

Sylvie Prud'homme
Director of Investor Relations
(514) 735-7131
Toll Free: 1-888-674-7563

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