Osisko Gold Royalties Ltd (the “
Company” or
“
Osisko”) (OR: TSX & NYSE) notes that its
operating partner, Victoria Gold Corp. (or
“
Victoria”), announced yesterday that the heap
leach pad at its Eagle Gold Mine (“
Eagle”) in the
Yukon Territory experienced a failure. Eagle operations have been
temporarily suspended while Victoria continues to assess the
situation. At this early stage, it has been confirmed by Victoria
that there has been some damage to infrastructure and a portion of
the failure has left containment. There have been no injuries to
personnel associated with the incident. Osisko is monitoring the
situation closely and plans to maintain an open line of
communication with Victoria as more information becomes available.
Osisko holds a 5% NSR royalty on Eagle until 97,500 ounces of gold
have been delivered and a 3% NSR royalty thereafter. Osisko’s
royalty covers the entire Dublin Gulch property including the
reserves on the Eagle and Olive ore deposits and all of the
exploration targets being most actively pursued by Victoria.
For more detailed information, please refer to
Victoria's press release dated June 24, 2024.
About Osisko Gold Royalties
Ltd
Osisko Gold Royalties Ltd is an intermediate
precious metal royalty company which holds a North American focused
portfolio of over 185 royalties, streams and precious metal
offtakes, including 19 producing assets. Osisko’s portfolio is
anchored by its cornerstone asset, a 3-5% net smelter return
royalty on the Canadian Malartic Complex, one of Canada’s largest
gold operations.
Osisko’s head office is located at 1100 Avenue
des Canadiens-de-Montréal, Suite 300, Montréal, Québec,
H3B 2S2.
For further information, please contact Osisko Gold
Royalties Ltd: |
|
Grant MoentingVice President, Capital Markets Tel: (514) 940-0670
#116Mobile: (365) 275-1954Email: gmoenting@osiskogr.com |
Heather TaylorVice President, Sustainability & Communications
Tel: (514) 940-0670 #105Email: htaylor@osiskogr.com |
Forward-looking statements
Certain statements contained in this press
release may be deemed “forward-looking statements” within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and “forward-looking information” within the meaning of
applicable Canadian securities legislation. Forward-looking
statements are statements other than statements of historical fact,
that address, without limitation, future events, production
estimates of Osisko’s assets (including increase of production),
and in particular production at Victoria Gold’s Eagle Gold mine,
timely developments of mining properties over which Osisko has
royalties, streams, offtakes and investments, management’s
expectations regarding Osisko’s growth, results of operations,
estimated future revenues, production costs, carrying value of
assets, ability to continue to pay dividend, requirements for
additional capital, business prospects and opportunities future
demand for and fluctuation of prices of commodities (including
outlook on gold, silver, diamonds, other commodities) currency
markets and general market conditions. In addition, statements and
estimates (including data in tables) relating to mineral reserves
and resources and gold equivalent ounces are forward-looking
statements, as they involve implied assessment, based on certain
estimates and assumptions, and no assurance can be given that the
estimates will be realized. 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 variations (including
negative variations), or that events or conditions “will”, “would”,
“may”, “could” or “should” occur. Forward-looking statements are
subject to known and unknown risks, uncertainties and other
factors, most of which are beyond the control of Osisko, and actual
results may accordingly differ materially from those in
forward-looking statements. Such risk factors include, without
limitation, (i) with respect to properties in which Osisko holds a
royalty, stream or other interest; risks related to: (a) the
operators of the properties, (b) timely development, permitting,
construction, commencement of production, ramp-up (including
operating and technical challenges), (c) differences in rate and
timing of production from resource estimates or production
forecasts by operators, (d) differences in conversion rate from
resources to reserves and ability to replace resources, (e) the
unfavorable outcome of any challenges or litigation relating title,
permit or license, (f) hazards and uncertainty associated with the
business of exploring, development and mining including, but not
limited to unusual or unexpected geological and metallurgical
conditions, slope failures or cave-ins, flooding and other natural
disasters or civil unrest or other uninsured risks; (ii) with
respect to external factors: (a) fluctuations in the prices of the
commodities that drive royalties, streams, offtakes and investments
held by Osisko, (b) fluctuations in the value of the Canadian
dollar relative to the U.S. dollar, (c) regulatory changes by
national and local governments, including permitting and licensing
regimes and taxation policies; regulations and political or
economic developments in any of the countries where properties in
which Osisko holds a royalty, stream or other interest are located
or through which they are held, (d) continued availability of
capital and financing and general economic, market or business
conditions, (e) responses of relevant governments to infectious
diseases outbreaks and the effectiveness of such response and the
potential impact of such outbreaks on Osisko’s business, operations
and financial condition; (iii) with respect to internal factors:
(a) business opportunities that may or not become available to, or
are pursued by Osisko or (b) the integration of acquired assets,
(c) the determination of Osisko’s PFIC status (d) Osisko’s ability
to deliver on its climate strategy. The forward-looking statements
contained in this press release are based upon assumptions
management believes to be reasonable, including, without
limitation: the absence of significant change in the Corporation’s
ongoing income and assets relating to determination of its Passive
Foreign Investment Company (“PFIC”) status; the absence of any
other factors that could cause actions, events or results to differ
from those anticipated, estimated or intended and, with respect to
properties in which Osisko holds a royalty, stream or other
interest, (i) the ongoing operation of the properties by the owners
or operators of such properties in a manner consistent with past
practice and with public disclosure (including forecast of
production), (ii) the accuracy of public statements and disclosures
made by the owners or operators of such underlying properties
(including expectations for the development of underlying
properties that are not yet in production), (iii) no adverse
development in respect of any significant property, (iv) that
statements and estimates relating to mineral reserves and resources
by owners and operators are accurate and (v) the implementation of
an adequate plan for integration of acquired assets. All
forward-looking statements contained in this press release are
expressly qualified in their entirety by the cautionary statements
contained or referred to in this section.
For additional information on risks,
uncertainties and assumptions, please refer to the most recent
Annual Information Form of Osisko filed on SEDAR+ at
www.sedarplus.ca and EDGAR at www.sec.gov which also provides
additional general assumptions in connection with these statements.
Osisko cautions that the foregoing list of risk and uncertainties
is not exhaustive. Investors and others should carefully consider
the above factors as well as the uncertainties they represent and
the risk they entail. Osisko believes that the assumptions
reflected in those forward-looking statements are reasonable, but
no assurance can be given that these expectations will prove to be
accurate as actual results and prospective events could materially
differ from those anticipated such the forward-looking statements
and such forward-looking statements included in this press release
are not guarantee of future performance and should not be unduly
relied upon. These statements speak only as of the date of this
press release. In this press release, Osisko relies on information
publicly disclosed by other issuers and third parties pertaining to
its assets and, therefore, assumes no liability for such
third-party public disclosure. Osisko undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, other
than as required by applicable law.
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