Name of the Project
Cariboo gold project.

Location
Wells-Barkerville mining camp, in the District of Wells, British Columbia, Canada.

Project Owner/s
Osisko Gold Royalties acquired Cariboo in September 2019 through the acquisition of Barkerville Gold Mines.

Project Description
The Cariboo gold project is an extremely scarce asset, with measured and indicated resources totalling 14.6-million ounces grading 3.33 g/t gold, and 15.47-million ounces in the inferred resource category grading 3.44 g/t gold. Probable reserves are estimated at 16.7-million tonnes grading 3.78 g/t gold.

A feasibility study,released in early 2023, envisions a robust and scalable underground operation expected to produce about 1.87-million ounces of gold over a 12-year mine life.

Potential Job Creation
The project is expected to contribute about 320 permanent jobs during the production phase and an additional 120 during the construction phase.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of C$502-million and an internal rate of return of 20.7%.

Capital Expenditure
Preproduction capital expenditure is estimated at C$137.3-million. Expansion capital is estimated C$451.1-million.

Planned Start/End Date
First production is expected in 2024 and Phase 2 in 2027.

Latest Developments
Cariboo underground gold mine has received environmental approval.

The project is the first to be entirely assessed under the province’s new 2018 Environmental Assessment Act.

Environment and Climate Change Strategy Minister George Heyman, and Energy, Mines and Low Carbon Innovation Minister Josie Osborne has imposed 22 legally binding conditions in the environmental assessment certificate to prevent or reduce potential adverse impacts from the mine.

Key Contracts, Suppliers and Consultants
Allnorth Consultants; BBA; InnovExplo; Golder Associates; Mining Plus Canada Consulting; SRK Consulting; and WSP Canada (PEA).

Contact Details for Project Information
Osisko Gold Royalties, tel +1 514 940 0670 or email info@osiskogr.com.