MONTREAL, QUEBEC - June 30, 2009 - Osisko Mining Corporation (TSX:OSK) (FRANKFURT:EWX) is pleased to announce that it has closed its previously announced non-brokered financing. Osisko issued a total of 1,216,000 flow-through shares at a price of $8.75 per share for aggregate gross proceeds of C$10,640,000. The securities issued under this private placement are subject to a four month hold period ending on October 27, 2009.
These funds will be used to aggressively pursue exploration programs on several exploration projects and on the Canadian Malartic project with the objective of increasing Osisko's reserve and resource base.
About Osisko
Osisko Mining Corporation is currently developing the Canadian Malartic gold deposit and evaluating adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Canadian Malartic deposit currently represents one the biggest gold reserves in Canada for a single deposit, and is still growing through ongoing drilling on new mineralized zones. Current reserves for the Canadian Malartic property are 6.28 million ounces, plus (including the Barnat deposit) a measured and indicated resource of 3.65 million ounces and an inferred resource of 0.84 million ounces. Osisko is well-funded with approximately $420 million on hand
