Pine Point Project

Past-producing zinc-lead mining camp near Hay River, Northwest Territories, held through Pine Point Mining Limited (PPML), a joint venture in which Osisko Metals holds approximately 52% equity and a subsidiary of Appian Natural Resources Fund III LP holds the balance; the JV is governed by a February 21, 2023 Investment Agreement (under which Appian may acquire up to 65% of PPML by funding expenditures) and an April 6, 2024 Joint Venture Agreement. PPML owns a 100% interest in the Pine Point Project, which is supported by a NI 43-101 mineral resource estimate update (Pine Point Zinc-Lead Project Mineral Resource Estimate Update, Hay River, Northwest Territories) effective May 31, 2024; the detailed resource tabulation is contained in that technical report. In November 2024 PPML and the Town of Hay River signed a Memorandum of Understanding to pursue long-term sustainable growth through development and operation of the project.