UPDATE: Osisko Critical Minerals Corporation Announces C$100 Million Private Placement of Special Warrants

In a release issued under the same headline earlier today by Osisko Critical Minerals Corporation (OTCQX: OMZNF; FRANKFURT: 0B51), please note that a correction has been made in the second paragraph. The word "are" in the first sentence of the CEO's comment was removed. The corrected release follows:

Gross Proceeds of $100,000,000 to Fund Exploration and Development of New Brunswick Properties

Special Warrants Priced at $0.25 per Special Warrant

Canaccord Genuity to Act as Lead Agent and Sole Bookrunner

TORONTO, Sept. 16, 2026 (GLOBE NEWSWIRE) -- Osisko Critical Minerals Corporation ("OCMC" or the "Corporation"), a newly incorporated entity and a wholly-owned subsidiary of Osisko Metals Incorporated ("Osisko Metals") (TSX: OM; OTCQX: OMZNF; FRANKFURT: 0B51), is pleased to announce a best efforts private placement (the "Private Placement") of special warrants of the Corporation (the "Special Warrants") at a price of $0.25 per Special Warrant for gross proceeds of $100,000,000. The Private Placement will be led by Canaccord Genuity Corp. ("Canaccord Genuity"), acting as lead agent and sole bookrunner, on behalf of a syndicate of agents (collectively, the "Agents").

Incoming CEO John Burzynski commented: "We have had a tremendous reception for OCMC in the capital markets, and the strong investor interest in our new critical minerals company reflects confidence in our exploration portfolio and the significant opportunity we see in New Brunswick. We look forward to completing this offering to capitalize this new venture and to advancing our aggressive exploration program on these highly prospective copper assets."

Private Placement Terms

Upon satisfaction of the release conditions described below (the "Release Conditions"), each Special Warrant shall automatically convert, without payment of additional consideration, into one unit of the Corporation (each, a "Unit"), with each Unit consisting of one common share of the Corporation (each, a "Common Share") and one-half of one common share purchase warrant of the Corporation (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.35 per share for a period of 24 months following the closing date of the Private Placement (the "Closing Date").

The Release Conditions shall mean (i) the receipt for a final prospectus (the "Qualifying Prospectus") qualifying the distribution of the Common Shares and Warrants underlying the Special Warrants being issued by the securities regulatory authorities in the provinces of Canada in which the Special Warrants are sold; and (ii) the TSX Venture Exchange (the "Exchange") granting conditional approval to list the Common Shares and Warrants, on or before the date that is 180 days following the Closing Date.

The Corporation intends to use the net proceeds of the Private Placement to fund: (i) exploration and development costs of the properties located in New Brunswick, Canada (the "Properties"); and (ii) general working capital and corporate expenses.

The Private Placement is expected to close on or about November 17, 2026 or such other date as may be mutually agreed upon between Canaccord Genuity and the Corporation (the "Closing Date").

The Corporation shall use its best efforts to satisfy the Release Conditions as soon as practicable following the Closing Date.

New Brunswick Properties

The Properties comprise an aggregate of 2,972 mineral claim units (approximately 645 square kilometres) staked by the Osisko Metals and claims which it has an option to acquire pursuant to three separate option agreements (collectively, the "Option Agreements", entered into on January 9, 2026; April 20, 2026; and September 9, 2026 respectively). In connection with the transaction, the Option Agreements will be assigned to the Corporation in exchange for common shares of Corporation. The Properties include several large-scale mineral exploration targets prospective for copper, silver and gold, underlain by highly prospective geology similar in context to the nearby Gaspé Copper Project, and are more particularly described in the news release of Osisko Metals dated September 15, 2026 and titled "Osisko Metals to Create New Critical Minerals Company".

Additional Information

Bennett Jones LLP is acting as legal advisors to the Corporation in connection with the Go-Public Transaction.

Cassels Brock & Blackwell LLP is acting as legal advisors to the Agents in connection with the Private Placement.

Additional Information

There is no certainty that the Private Placement will be completed on the terms proposed, or at all. Completion of the Private Placement is subject to a number of conditions, including: completion of legal and tax structuring; completion of financial analysis; negotiation and execution of definitive documentation; and required regulatory approvals. There can be no assurance that any securities of the Corporation will be listed on any stock exchange.

Scientific and Technical Disclosure

Qualified Person

The scientific and technical information within this news release was reviewed and approved by Jared Hansen, P.Geo., a "qualified person" within the meaning of NI 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") who is not independent of Osisko Metals for purposes of Section 1.5 of NI 43-101.

About Osisko Critical Minerals Corporation

Osisko Critical Minerals Corporation is a newly incorporated Canadian mineral exploration company focused on the discovery and development of copper and critical minerals deposits. The Corporation's principal assets are the Properties, comprising approximately 645 square kilometres of mineral claims in northern New Brunswick, Canada. The Properties include the NB Copper Project, which hosts large-scale exploration targets for bulk-tonnage copper deposits in a geological setting analogous to the nearby Gaspé Copper Project. OCMC is led by John Burzynski as Chief Executive Officer and is a wholly-owned subsidiary of Osisko Metals Incorporated pending completion of the Private Placement.

For further information on this news release, contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects" or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends", or variations of such words and phrases, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: statements with respect to the terms, timing and outcome of the Private Placement, including the expected closing date; that the Corporation will use the proceeds from the Private Placement to fund exploration and development of the Properties and general working capital; the timing of the satisfaction of the Release Conditions; the anticipated listing of the Common Shares and Warrants on the TSX Venture Exchange; the pre-closing steps to be completed by Osisko Metals, including the transfer of the Properties and the subscription for Units; Osisko Metals' retention of an interest in the Corporation; receipt of the required regulatory approvals in connection with the Private Placement; the anticipated benefits of the Private Placement; anticipated strategic and growth opportunities; and the future plans and objectives of the Corporation.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: completion of the Private Placement, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary approvals for the Private Placement; completion of the Go-Public Transaction and satisfaction of the Release Conditions within the required timeframe; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Private Placement; that the anticipated benefits of the Private Placement will be realized; that general business and economic conditions will not change in a material adverse manner; that financing will be available if and when needed and on reasonable terms; that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Corporation's planned exploration activities will be available on reasonable terms and in a timely manner; the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of minerals; the timing and results of exploration and drilling programs; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in Osisko Metals' public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile.

Although Osisko Metals believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Osisko Metals disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.