Osisko Development to Acquire Tintic Consolidated Metals

Date: January 25, 2022

Charlestown, Nevis, January 25 th , 2022 –IG Tintic LLC (the “Company”) which is the 75% owner and operator of the Tintic Consolidated Metals LLC (“TCM”) Joint Venture, is pleased to announce it has entered into a definitive agreement with Osisko Development Corp. (“Osisko Development”) whereby Osisko Development will acquire its 75% participation in TCM (the “Transaction”) in exchange for aggregate consideration of approximately US$135,000,000 comprised of cash and Osisko shares and a 1% net smelter return royalty on the entire property owned by TCM, which is located in the East Tintic District of Utah.

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