Osisko Metals and Quebec Government Collaborate on Gaspé Copper Project

Osisko Metals Incorporated (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) has welcomed the participation of the Government of Quebec in its Gaspé Copper Project, located next to the Town of Murdochville in the Gaspé Peninsula, on the traditional territory of the Mi’gmaq First Nation of Gespe’gewa’gi. The collaboration aims to maximize the economic benefits of the project and ensure strong collaboration with the business community throughout the development process.

The Government of Quebec will lead a pilot project to create a committee that seeks to optimize socio-economic benefits in the Gaspé Peninsula. The committee will be overseen by the Ministère des Ressources naturelles et des Forêts (Quebec Ministry of Natural Resources and Forests) and will work to improve and consolidate approaches that promote economic benefits on a regional scale. The objectives of the committee include increasing the participation of local and Indigenous business communities in the development of the project, identifying opportunities within the circular economy, and facilitating exchanges between the business community and Osisko Metals.

Osisko Metals’ Gaspé Copper project aims to restart the Murdochville Gaspé Copper mine by 2031. The former mine site contains excellent estimated resources of copper, a critical and strategic mineral that is increasingly in demand worldwide, and other important by-products in the industry, such as molybdenum. The project is currently in the advanced exploration phase, with Osisko Metals planning to continue its feasibility studies until 2027.

The collaboration between Osisko Metals and the Government of Quebec demonstrates a commitment to responsible and harmonious development of the mining activity. The 2024-2025 Roadmap for the harmonious and responsible development of mining activity, from which the pilot project stems, is a broader initiative that aims to promote sustainable development in the mining sector. This roadmap considers the participation of local communities and the maximization of economic benefits, which are all key aspects of sustainable development.

The participation of the Government of Quebec in the Gaspé Copper Project is a significant step towards ensuring the project's success and maximizing its benefits for the region. The collaboration between Osisko Metals and the Government of Quebec highlights the importance of public-private partnerships in driving economic growth and sustainable development in the mining sector.