MONTREAL, July 05, 2022 (GLOBE NEWSWIRE) — Osisko Development Corp. (“Osisko Development” or the “Company”) (ODV TSX.V & NYSE) is pleased to announce Williams Lake First Nation (“WLFN”) and Barkerville Gold Mines Ltd. (“BGM”), the Company’s 100% owned subsidiary, have entered into a participation agreement (“The Agreement”) relating to the development of the Cariboo Gold Project (“The Project”), located within the traditional territory of the WLFN.
The Agreement represents an important milestone in our relationship and supports our mutual vision to develop a socially and environmentally sustainable Project.
The Agreement will strengthen our long-term relationship through a framework for working together predictably, collaboratively, and respectfully on ongoing development matters while providing opportunities for current and future generations of the WLFN to participate meaningfully in the benefits of the Project. Osisko Development would like to thank WLFN, BGM and our respective negotiating teams for their efforts and commitment in realizing this Agreement.
Specific terms of the Project Agreement remain confidential; however, it puts in place a thorough and comprehensive process for the Project to be developed and operated with the consent and support of the WLFN.
WLFN Chief, Willie Sellars reflected on the growth of the relationship, “The Company has been proactive in supporting a robust engagement process with WLFN that respects our commitment to sustainable mining activity in our traditional territory, particularly the QR Mill Site near Likely, BC, a key processing location envisioned by the Project. The Agreement provides WLFN with a seat at the table and the enhanced opportunity to advance the principles of economic reconciliation, environmental stewardship, and additional employment opportunities for WLFN members.”
Vice President of Sustainable Development, Chris Pharness comments, “Good relationships are key to any successful endeavor. Osisko Development’s belief is that through the foundation of respect, transparency, and reciprocity our relationships will provide long-term, transformative outcomes for our friends, partners, and ourselves. The spirit of our negotiation and the signing of this agreement speaks to our desire to develop opportunities through the collective sharing of culture and worldview with the WLFN community, elders, and leadership.”
About Osisko Development Corp.
Osisko Development is uniquely positioned as a premier gold development company in North America to advance the Cariboo Gold Project and other Canadian, U.S.A. and Mexican properties, with the objective of becoming the next mid-tier gold producer. The Cariboo Gold Project, located in central British Columbia, Canada, is Osisko Development’s flagship asset. The considerable exploration potential at depth and along strike distinguishes the Cariboo Gold Project relative to other development assets. Osisko Development’s project pipeline is complemented by its interest in the San Antonio gold project, located in Sonora, Mexico and the Trixie gold test mine, located in Utah, U.S.A.
For further information, please contact Osisko Development Corp.:
Jean Francois Lemonde
VP Investor Relations
jflemonde@osiskodev.com
Tel: 514-299-4926
For further information, please contact Williams Lake First Nation:
Kirk Dressler
Director of Legal and Corporate Services
Williams Lake First Nation
2561 Quigli Drive
Williams Lake, BC
V2G 0B1
Tel: 778-417-0193
