# Osisko Development (TSXV:ODV)

> Osisko Development Corp.

## About

Osisko Development Corp. is a North American gold development company focused on past-producing mining camps located in mining friendly jurisdictions with district scale potential. The Company's objective is to become an intermediate gold producer by advancing its fully-permitted 100%-owned Cariboo Gold Project, located in central B.C., Canada, and the Tintic Project in the historic East Tintic mining district in Utah, U.S.A. Osisko is committed to responsible mining practices with a vision of building modern, safe, socially and environmentally sustainable mining operations that support generations to come in the surrounding communities.

## Key facts

- **Cash position:** $422 million
- **Shares outstanding:** 304.6 million
- **Fully diluted shares:** 428.2 million
- **Warrants:** 115.6 million
- **Options:** 8.0 million
- **Mineral resource:** Mineral Resources Estimate (April 22, 2025) – Exclusive of Mineral Reserves
The Mineral Resources estimate included in the 2025 FS have an effective date of April 22, 2025, and are reported exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that Mineral Resources will be converted into Mineral Reserves. Mineral Resources include Inferred Mineral Resources which have had insufficient work to classify them as Indicated Mineral Resources. It is uncertain but reasonably expected that Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The Mineral Resources estimate follows the 2014 CIM Definition Standards on Mineral Resources and Reserves and the 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.

| **Mineral Resources** | **Measured Resources** |  | **Indicated Resources** |  | **Inferred Resources** |
| --- | --- | --- | --- | --- | --- |
| **Deposit** | **Tonnes**<br> (000’s) | **Grade**<br> (g/t Au) | **Ounces**<br> (koz Au) |  | **Tonnes**<br> (000’s) | **Grade**<br> (g/t Au) | **Ounces**<br> (koz Au) |  | **Tonnes**<br> (000’s) | **Grade**<br> (g/t Au) | **Ounces**<br> (koz Au) |
| Bonanza Ledge | 47 | 5.06 | 8 |  | 32 | 4.02 | 4 |  | — | — | — |
| BC Vein | — | — | — |  | 1,057 | 3.00 | 102 |  | 596 | 3.17 | 61 |
| KL | — | — | — |  | 527 | 2.80 | 47 |  | 2,514 | 2.53 | 205 |
| Lowhee | — | — | — |  | 1,333 | 2.76 | 118 |  | 486 | 3.01 | 47 |
| Mosquito | — | — | — |  | 1,553 | 2.96 | 148 |  | 1,883 | 3.08 | 186 |
| Shaft | — | — | — |  | 6,121 | 2.92 | 575 |  | 7,457 | 3.44 | 826 |
| Valley | — | — | — |  | 2,718 | 2.70 | 236 |  | 2,470 | 3.01 | 239 |
| Cow | — | — | — |  | 3,991 | 2.91 | 374 |  | 3,368 | 2.78 | 301 |
| **Total Resources** | **47** | **5.06** | **8** |  | **17,332** | **2.88** | **1,604** |  | **18,774** | **3.09** | **1,864** |
- **Projects:** ["Cariboo Gold Project\n[Highlights](https://osiskodev.com/projects/cariboo-gold/)\n[Overview](https://osiskodev.com/projects/cariboo-gold/)\n[Feasibility Study](https://osiskodev.com/projects/cariboo-gold/)\n[Mineral Reserves & Resources](https://osiskodev.com/projects/cariboo-gold/)\n[Gallery](https://osiskodev.com/projects/cariboo-gold/)\n[Technical Reports](https://osiskodev.com/projects/cariboo-gold/)\n[Project News](https://osiskodev.com/projects/cariboo-gold/)\n\n## Overview\n\nA Feasibility Study on the Cariboo Gold Project, released in April 2025, envisions a robust and scalable underground operation expected to produce approximately 1.89 million ounces of gold over a 10-year mine life, with an after-tax NPV5% of C$943 million and 22.1% IRR at a US$2,400/oz gold price (after-tax NPV5% of C$2,066 million and 38.0% IRR at a US$3,300/oz gold price). The Project received an Environmental Assessment Certificate on October 10, 2023, in accordance with the BC Environmental Assessment Act (2018). Receipt of the EA Certificate successfully concluded the EA process for the Project, which was launched in October 2019. The Company was granted the BC Mines Act and Environmental Management Act permits in Q4 2024.\n\n[Project Site](https://www.cariboogold.com/)\n[VRIFY Virtual Site Visit](https://vrify.com/decks/12611)\n[Optimized Feasibility Study (2025)](https://osiskodev.com/_resources/presentations/ODV_Cariboo-2025-OFS-Apr-25_vFINAL.pdf)\n\n## Feasibility Study\n\nApril 2025\n\nThe scientific and technical information related to the 2025 Feasibility Study (\"2025 FS\") relating to the Cariboo Gold Project is supported by the 2025 FS which was prepared in accordance with NI 43-101 with an effective date of April 22, 2025 and will be filed on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov) under Osisko Development's issuer profile within 45 days of the date of April 28, 2025. For readers to fully understand the information in this news release, reference should be made to the full text of the Technical Report, once filed, including all assumptions, qualifications and limitations therein. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. Refer to [ODV news release dated April 28, 2024](https://osiskodev.com/_resources/news/nr-20250428.pdf). The 2025 FS has been prepared by independent representatives of BBA, InnovExplo, a subsidiary of Norda Stelo, Alius, Falkirk, WSP, Okane, Integrated Sustainability, Clean Energy, and JDS, each of whom is a \"qualified person\" (within the meaning of NI 43-101) (each, a \"QP\").\n\n#### Table 1: Cariboo Feasibility Study Highlights\n\n| **Cariboo Gold 2025 FS vs. 2023 FS – Project Operating and Financial Metrics** |\n| --- |\n| **Assumptions** | **units** | **2023 FS** | **2025 FS** |\n| Gold price | US$/oz | 1,700 | 2,400 |\n| Exchange rate | USDCAD | 1.30 | 1.35 |\n| Discount rate | % | 5.0% | 5.0% |\n| **Production** |  |  |  |\n| Mine life | yrs | 12.0 | 10.0 |\n| Total ore mined | kt | 16,703 | 17,815 |\n| Peak annual throughput | tpd | 4,900 | 4,900 |\n| Average gold head grade | g/t Au | 3.78 | 3.62 |\n| Total contained gold | koz | 2,031 | 2,071 |\n| Avg. gold recovery | % | 92.0% | 92.6% |\n| Total recovered gold, payable | koz | 1,869 | 1,894 |\n| Avg. gold production, LOM | koz/yr | 164 | 190 |\n| Avg. gold production, first 5 yrs | koz/yr | 96 | 202 |\n| **Operating Unit Costs** |  |  |  |\n| Underground mining | $/t mined | 53.6 | 62.3 |\n| Processing | $/t mined | 31.2 | 23.2 |\n| Water and waste management | $/t mined | 7.2 | 5.0 |\n| Electrical transmission line | $/t mined | — | 4.9 |\n| General and administrative | $/t mined | 10.7 | 15.4 |\n| Total unit operating costs | $/t mined | 102.6 | 110.7 |\n| **Total operating costs** | **$ mm** | **1,714** | **1,921** |\n| Royalty payments | $ mm | 206 | 292 |\n| Offsite charges | $ mm | 5 | 143 |\n| **Operating Costs** |  |  |  |\n| Total cash costs2 | US$/oz | $792 | $947 |\n| AISC2 | US$/oz | $968 | $1,157 |\n| **Capital Expenditures** |  |  |  |\n| Initial costs | $ mm | 137.3 | 881 |\n| Expansion costs | $ mm | 451.1 | — |\n| Sustaining costs | $ mm | 466.6 | 426 |\n| Closure costs, net3 | $ mm | (38.9) | 99 |\n| **Total capex** | **$ mm** | **1,016** | **1,406** |\n| **Economics (after-tax)** |  |  |  |\n| Total free cash flow, LOM2 | $ mm | 901 | 1,577 |\n| Net Present Value (NPV5%) | $ mm | 502 | 943 |\n| Internal Rate of Return (IRR) | % | 20.7% | 22.1% |\n| Payback, from commercial production | yrs | 5.9 | 2.8 |\n| Average free cash flow, first 5 yrs2 | $ mm | (63) | 296 |\n| Average free cash flow, LOM2 | $ mm | 75 | 158 |\n\nScroll right to view more\n\nScroll right to view more\n\nScroll right to view more\n\nView Notes \n\n1. Total may not add up due to rounding.\n2. Cash costs, all-in sustaining costs per ounce and free cash flow are non-IFRS measures or ratios. Refer to \"Non-IFRS Financial Measures\" at the end of this news release for more information. Total cash costs are presented on a per ounce payable basis inclusive of total operating costs mining costs, processing costs, site G&A costs, royalties, smelting, refining, and transports costs. AISC are presented on a per ounce payable basis and include cash costs plus sustaining and closure costs.\n3. Closure costs are shown net of salvage value.\n4. Pre-final investment decision capital costs total $38.6 million.\n\n#### Table 2: Economic Sensitivities to Gold Price (base case in bold)\n\n| **Cariboo Gold 2025 FS – Economic Sensitivity Analysis, after-tax (base case in bold)** |\n| --- |\n| **Gold Price** | **NPV5%** | **IRR** | **Payback** | **Avg. FCF** |\n| (US$/oz) | ($ mm) | (%) | (yrs) | ($ mm per yr) |\n| $1,800 | 251 | 9.9% | 5.3 | 65 |\n| $2,100 | 610 | 16.5% | 3.5 | 113 |\n| **$2,400** | **943** | **22.1%** | **2.8** | **158** |\n| $2,700 | 1,275 | 27.2% | 2.2 | 204 |\n| $3,000 | 1,604 | 31.9% | 1.9 | 250 |\n| $3,300 | 1,934 | 36.3% | 1.7 | 296 |\n| $3,600 | 2,263 | 40.5% | 1.5 | 342 |\n| $3,900 | 2,592 | 44.5% | 1.3 | 388 |\n| $4,200 | 2,921 | 48.3% | 1.2 | 433 |\n| $4,500 | 3,249 | 51.9% | 1.1 | 479 |\n\nScroll right to view more\n\nScroll right to view more\n\nScroll right to view more\n\n## Mineral Reserves & Resources\n\n#### Mineral Reserves Estimate (April 10, 2025)\n\nMineral Reserves were classified in compliance with the CIM Definition Standards for Mineral Resources and Mineral Reserves. As such, the Mineral Reserves are based on Measured and Indicated Mineral Resources and do not include any Inferred Mineral Resources. Measured and Indicated Mineral Resources are exclusive of proven and probable reserves. Mineral Reserves are the estimated tonnage and grade of ore that is considered economically viable for extraction.\n\nMineral Reserves for the Project deposit incorporate dilution and mining recovery factors based on the selected mining method and design. In addition, economic analyses were completed to validate the profitability of particular areas of the reserves.\n\n| **Cariboo Gold 2025 FS – Mineral Reserves Statement (April 10, 2025)** |\n| --- |\n| **Category / Zone** | **Tonnage** | **Gold Grade** | **Contained Gold** |\n|  | (tonnes) | (g/t) | (oz) |\n| **Proven** | **—** | **—** | **—** |\n| **Probable** |  |  |  |\n| Cow | 3,999,971 | 3.35 | 430,548 |\n| Valley | 3,238,636 | 3.59 | 374,058 |\n| Shaft | 8,548,295 | 3.72 | 1,021,599 |\n| Mosquito | 1,105,370 | 3.94 | 140,102 |\n| Lowhee | 923,162 | 3.52 | 104,491 |\n| **Total Proven & Probable** | **17,815,435** | **3.62** | **2,070,798** |","Tintic Project\n[Highlights](https://osiskodev.com/projects/tintic/)\n[Overview](https://osiskodev.com/projects/tintic/)\n[Mineral Reserves & Resources](https://osiskodev.com/projects/tintic/)\n[Gallery](https://osiskodev.com/projects/tintic/)\n[Technical Reports](https://osiskodev.com/projects/tintic/)\n[Project News](https://osiskodev.com/projects/tintic/)\n\n## Overview\n\nThe Tintic Project is an exploration and development stage precious and base metal property, located in western Utah County, ~95 south of Salt Lake City. The historical Tintic District is the second largest metal producing district in Utah, following Bingham, [historically producing 2.8 Moz of gold, 285 Moz of silver, 128 kT of copper, 1.2 MT of lead and 259 kT of zinc](https://www.researchgate.net/publication/328676854_Production_history_of_the_Bingham_mining_district_Salt_Lake_County_Utah_-_an_update), of which the Main and East Tintic sub-districts were the main producing regions.\n\nThe Tintic Project encompasses most of the East Tintic District with 23 past-producing mines and includes the Trixie gold deposit, one of several gold and base metal targets, including porphyry, epithermal and carbonate targets within the project boundaries.\n\n[Tintic Project Factsheet](https://osiskodev.com/_resources/fact-sheets/factsheet-tintic.pdf)\n\n## Mineral Reserves & Resources\n\n#### Trixie Mineral Resources Estimate (March 14, 2024)\n\nScientific and technical information relating to the Tintic Project and the mineral resource estimate for the Trixie deposit (the \"2024 Trixie MRE\") and the assumptions, qualifications and limitations thereof, is supported by the technical report titled \"NI 43-101 Technical Report, Mineral Resource Estimate for the Trixie Deposit, Tintic Project, Utah, United States of America\" and dated April 25, 2024 (with an effective date of March 14, 2024), prepared for the Company by independent representatives of Micon International Limited (the \"Tintic Technical Report\"). Reference should be made to the full text of the Tintic Technical Report, which was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).\n\nThe 2024 Trixie MRE comprises six mineralized zones within the greater Trixie deposit, including T2, T3, T4, Wild Cat, 40 Fault and 75-85 over a strike length of 530 m, a maximum width of 105 m and to a maximum depth of 195 m for the deposit and is 350 m from surface. These dimensions are for the overall size of the mineralized zone structures, with the 2024 Trixie MRE blocks contained within a smaller 440 m strike length, 60 m total width and 195 m depth footprint.\n\n| Domain | Category | Tonnes | Grade<br> (Au g/t) | Contained<br> Gold (oz) | Grade<br> (Ag g/t) | Contained<br> Silver (oz) |\n| --- | --- | --- | --- | --- | --- | --- |\n| **T2** | Measured | 22,678 | 106.27 | 77,484 | 115.99 | 84,572 |\n| Indicated | 11,939 | 23.19 | 8,902 | 51.07 | 19,602 |\n| **M+I** | **34,617** | **77.62** | **86,387** | **93.60** | **104,173** |\n| Inferred | 1,996 | 9.82 | 630 | 61.38 | 3,938 |\n| **T3** | Measured | 2,385 | 9.46 | 725 | 75.34 | 5,776 |\n| Indicated | 970 | 5.47 | 171 | 57.32 | 1,787 |\n| **M+I** | **3,355** | **8.30** | **896** | **70.13** | **7,564** |\n| Inferred | 139 | 6.27 | 28 | 63.14 | 282 |\n| **T4 + Wild Cat + 40 FLT** | Measured | 94,784 | 8.93 | 27,227 | 48.41 | 147,520 |\n| Indicated | 51,827 | 6.48 | 10,795 | 37.59 | 62,637 |\n| **M+I** | **146,611** | **8.07** | **38,023** | **44.58** | **210,156** |\n| Inferred | 104,676 | 6.57 | 22,127 | 38.57 | 129,792 |\n| **75-85** | Measured | - |  | - |  | - |\n| Indicated | 60,008 | 12.93 | 24,943 | 80.95 | 156,185 |\n| **M+I** | **60,008** | **12.93** | **24,943** | **80.95** | **156,185** |\n| Inferred | 94,793 | 9.12 | 27,784 | 59.28 | 180,666 |\n| **Total** | Measured | 119,847 | 27.36 | 105,437 | 61.73 | 237,868 |\n| Indicated | 124,743 | 11.17 | 44,811 | 59.89 | 240,211 |\n| **M+I** | **244,590** | **19.11** | **150,248** | **60.80** | **478,078** |\n| Inferred | 201,603 | 7.80 | 50,569 | 48.55 | 314,678 |"]
- **Leadership:** Sean Roosen
Chair of the Board of Directors and Chief Executive Officer
Mr. Sean Roosen is the Founder, Executive Chairman and Chief Executive Officer of Osisko Development Corp. He is also the founder and former Executive Chairman and CEO of Osisko Gold Royalties, where he served from its inception in 2014 until 2023. Additionally, Mr. Roosen was a founding member of Osisko Mining Corporation (2003) and of EurAsia Holding AG, a European venture capital fund.

Mr. Roosen has over 30 years of progressive experience in the mining industry. As founder, President, Chief Executive Officer and Director of Osisko Mining Corporation, he was responsible for developing the strategic plan for the discovery, financing and development of the Canadian Malartic mine. He also led the efforts for the maximization of shareholders’ value in the sale of Osisko Mining Corporation, which resulted in the creation of Osisko Royalties. 

Mr. Roosen is an active participant in the resource sector, contributing to the formation of new companies exploring for mineral deposits both in Canada and internationally.

In 2017, Mr. Roosen received an award from Mines and Money Americas for best Chief Executive Officer in North America and was, in addition, named in the "Top 20 Most Influential Individuals in Global Mining". In prior years, he has been recognized by several organizations for his entrepreneurial successes and his leadership in innovative sustainability practices. Mr. Roosen is a graduate of the Haileybury School of Mines.

Chris Lodder
President
Mr. Chris Lodder has more than 30 years’ experience working on and managing Greenfields exploration, Brownfields exploration, and mine development with major and junior mining companies worldwide with the majority of his career focused in the Americas. He has led teams responsible for discoveries of compliant resources containing more than 34 million ounces of gold. He was President, CEO and a Director of Barkerville Gold Mines from 2016 until its acquisition by Osisko Gold Royalties in 2019. Chris is also the President of Talisker Exploration Services Inc., an Ontario based mining and exploration services company founded by Mr. Lodder and two partners in 2010, whose principal clients are Osisko Gold Royalties and their associated companies. From 1999 to 2010 he was South American Exploration Manager and later the Americas Exploration Manager for AngloGold Ashanti and prior that he had various management roles with Queenstake Resources in South America. Chris is a volunteer director on the board of the Barkerville Heritage Trust which oversees the management of the Barkerville Historic Town and Park which is a living museum which preserves the history of the Cariboo Gold Rush.

Alexander Dann
CPA

Chief Financial Officer and Vice President, Finance
Mr. Alexander Dann is a bilingual chartered professional accountant with over 30 years of experience leading financial operations and strategic planning for multinational public companies, primarily in the mining and manufacturing sectors. Most recently, Alex served as Chief Financial Officer of The Flowr Corporation, where he successfully guided them from a small private company to a TSXV publicly traded corporation. Prior to that, Alex was CFO of Avion Gold Corp. and Era Resources Inc., until their acquisitions by Endeavour Mining Corporation and The Sentient Group, respectively. Alex also held senior finance roles with Falconbridge Ltd. (now part of Glencore), Rio Algom Limited (now part of BHP Billiton) and Litens Automotive Partnership (a group within Magna International Inc.).

Alex obtained his Chartered Accountant designation in 1995 and holds a Bachelor degree in Business Administration from L’Université Laval in Québec City.

David Rouleau
Vice President, Project Development
Mr. David Rouleau is a seasoned executive with over 35 years of operational and management experience in the mining industry. His experience spans across projects and operations at various stages of growth including feasibility studies, environmental assessments, permitting, construction, start-up, expansion, and continuous improvement settings. Most recently, Mr. Rouleau served as Vice President of Mine Optimization and Strategic Planning at Victoria Gold, where he oversaw the Brewery Creek Project and supported business development initiatives in assessing mining and exploration projects. Earlier, he worked in British Columbia’s Cariboo Regional District as Vice President of Operations for Barkerville Gold Mines (2016-2018) and at Taseko Mines (2010-2016), responsible for the Gibraltar Mine.

Earlier in his career, Mr. Rouleau was a key member of the Canadian Natural Resources senior management team developing the Horizon Oil Sands Project in Fort McMurray, Alberta. Additionally, Mr. Rouleau spent 17 years with Teck Cominco in various operational and engineering roles across multiple mine sites. Mr. Rouleau holds a BSc in Mine Engineering from the South Dakota School of Mines and a Mine Technology Diploma from the Haileybury School of Mines.

Laurence Farmer
General Counsel and Vice President, Strategic Development
Mr. Farmer joined the Company in July 2022 from Osisko Gold Royalties Ltd, where he held the position of Senior Counsel. Prior to his role at Osisko Gold Royalties, Mr. Farmer worked in investment banking at RBC Capital Markets in London and, before that, practiced as a corporate lawyer with Norton Rose Fulbright LLP in London, England and Montréal, Canada.

Philip Rabenok
CFA

Vice President, Investor Relations
Mr. Rabenok has over 15 years of progressive transactional, capital markets, and corporate experience in the resources sector, most recently working in an Investor Relations role with IAMGOLD, a Canadian mid-tier gold producer. Prior to his role at IAMGOLD, he spent the majority of his career in metals and mining investment banking at Société Générale, and in equity research at Scotiabank, focused on precious metals companies. Philip holds a Bachelor of Commerce (B.Com.) degree from the University of Toronto (Trinity College) and is a CFA Charterholder.

Scott Smith
Vice President, Exploration
Mr. Scott Smith is a registered Professional Geologist with over 30 years of experience in mine production, exploration, and advanced-stage mining projects across Canada, Mexico, Peru, Chile, and the United States. Mr. Smith has spent more than 18 years in senior management roles, leading geological teams in both mine production and exploration throughout North and South America, spanning operating mines, brownfields, and greenfield projects. Most recently, he served as Executive Vice President of Exploration at Prime Mining Corp., where he led resource extension and exploration strategies for the Los Reyes Project in Mexico, delivering significant resource growth and contributing to the company's successful sale to Torex Gold Resources Inc. Previously, he was Chief Geologist at Gibraltar Mines Ltd. (2015-2021), a major copper-molybdenum operation in central British Columbia, Canada. Earlier in his career, he managed exploration teams for Teck Resources Limited in Chile and Argentina and led district geology teams with Newmont Corporation at Minera Yanacocha in Peru. He also spent 5 years in operational roles with Compañía Minera Antamina in Peru, contributing to the mine's startup and operational geology. Mr. Smith holds a B.Sc. in Geology from the University of Alberta and is a registered Professional Geologist (P.Geo.) with APEGA in Canada.

Sarah Harrison
Vice President, Permitting and Compliance
Ms. Harrison is a permitting and regulatory compliance professional with over 13 years of experience across environmental assessment, reclamation, permitting, and regulatory compliance in the mining sector. Her experience spans the full mine development lifecycle, from early-stage exploration through construction and operations, including major permit amendments for large-scale mining projects. Her recent roles include Environmental Manager supporting permitting and compliance activities at Artemis Gold Inc's Blackwater Gold Mine, an environmental compliance leadership role with Arctic Canadian Diamond Company, and regulatory experience with the British Columbia Environmental Assessment Office. Most recently, Ms. Harrison has advised a range of mining clients on navigating British Columbia's permitting and compliance landscape.

Charles E. Page
Lead Director
Mr. Charles E. Page is a corporate director and has more than 40 years of experience in the mineral industry. During his career, Mr. Page has held progressive leadership roles in developing strategies to explore, finance and develop mineral properties in Canada and internationally. Mr. Page worked at Queenston Mining Inc. in various capacities, including President and Chief Executive Officer, from 1990 to its sale to Osisko Mining Corporation in 2012.

Mr. Page holds a Bachelor of Science degree in Geological Science from Brock University and a Master of Science degree in Earth Science from the University of Waterloo. He is a Professional Geologist registered in the province of Ontario and Saskatchewan, and is also a Fellow of the Geological Association of Canada.

Michèle McCarthy
Director
Ms. Michèle McCarthy is the President and Chief Executive Officer of McCarthy Law Professional Corporation as well as President and Chief Executive Officer of Independent Review Inc., a corporate governance and advisory services provider. She is an experienced corporate director and has significant experience in corporate restructuring and regulatory compliance, with over 30 years of board director experience. Ms. McCarthy is a director of Electric Metals (USA) Limited, a director/Audit Chair of Russell Investments Corporate Class and a trustee of Pier 4 REIT. She was the Chair of the boards of Sandy Lake Gold Inc., Big 8 Split Inc., TD Split Inc. and 5Banc Split Inc. She also served as a director and member of the Audit Committee and Risk Management Committees at Equity Financial Holdings Inc. and Bitcoin Well Inc. She is the former Chair of the Toronto Port Authority and former member of the Small Business Advisory Committee of the Ontario Securities Commission.

Ms. McCarthy is the Chair of the board of the Queen’s Own Rifles’ Museum and serves on its Senate. She also served on the boards of the McMichael Foundation, Canada’s National Ballet School, the St. George’s Society of Toronto, the University of Toronto (Trinity College), Honourable Company of Freemen of the City of London in North America, The Rekai Centres and the Humber Memorial Hospital.

Ms. McCarthy holds an LLB and LLM in Securities Law from Osgoode Hall and has obtained the ICD.D designation from the Institute of Corporate Directors in 2004 and a CDI.D on March 2, 2022.

Duncan Middlemiss
Director
Mr. Duncan Middlemiss, P.Eng, was the President and Chief Executive Officer and a director of Wesdome Gold Mines Ltd. from 2016 to 2023. Prior to joining Wesdome Gold Mines Ltd., he was President and Chief Executive Officer and a director of St. Andrew Goldfields Ltd. until its acquisition by Kirkland Lake Gold Inc. in January 2016. Mr. Middlemiss joined St. Andrew Goldfields Ltd. in July 2008 as General Manager and Vice President Operations, later assuming the role of Chief Operating Officer. He was appointed as President and Chief Executive Officer in October 2013. He earned a B. Sc. in mining engineering at Queen’s University in 1989 and worked for Inco Limited (now Vale Canada Limited) as Mine Design Engineer until 1995. At that time, he joined Barrick Gold Inc. at their Holt-McDermott Mine, where he held the position of Chief Mine Engineer. In 2002, he joined Foxpoint Resources (now Kirkland Lake Gold Inc.) where he was instrumental in overseeing the rehabilitation, development, and commencement of production at the Macassa Mine beginning as Engineering & Production Manager, and later as Mine Manager. Mr. Middlemiss is a native of Kirkland Lake, Ontario and has extensive experience in the mining of gold deposits in the Abitibi Greenstone Belt. Mr. Middlemiss is the Past Chair of the Ontario Mining Association and remains active in the organization.

David Danziger
Director
Mr. David Danziger is a Chartered Professional Accountant with over 30 years of experience in audit, accounting and management consulting and has over 25 years of experience in the resources sector. He was the Senior Vice President, Assurance and the National Leader of Public Companies at MNP LLP, Chartered Professional Accountants, Canada’s fifth largest accounting firm, until May 31, 2023. Mr. Danziger is currently a Senior Advisor for the Firm working on special projects and supporting the Public Company audit team nationally.

Mr. Danziger has extensive experience in advising public and private companies in North America on significant public markets transactions, complex accounting and regulatory matters, and draws on many years of experience serving as a director for many publicly listed companies on the TSX, TSXV, CSE and the NYSE. He is also a member of the advisory committee to the TSXV, a past member of the Ontario Securities Commission’s Advisory Committee on Small and Medium Sized Enterprises, as well as a past member of the CPA/PDAC Taskforce on IFRS for Mining.

David graduated from the University of Toronto with a Bachelor of Commerce and is a Chartered Professional Accountant (CPA), qualifying as a Chartered Accountant (CA) in 1983.

Stephen Quin
Director
Mr. Quin holds a BSc (Honours) in Mining Geology from the Royal School of Mines, London, and brings over 40 years of experience across all stages of the mining industry, from exploration through operations and closure. Most recently, he spent a decade as President & CEO of Midas Gold Corp. (now Perpetua Resources Corp.) advancing a large-scale gold-antimony project from a maiden mineral resource through completion of a feasibility study. Prior to that, he held senior leadership roles including President & COO of Capstone Mining Corp. and, before its merger with Capstone, President & CEO of Sherwood Copper Corp. Additionally, he served as Executive Vice President at Miramar Mining Corp. and its copper exploration affiliate, Northern Orion Exploration. Mr. Quin started his career with what became Imperial Metals Corp., where he was responsible for the advancement of their polymetallic copper-lead-zinc project. He currently serves as a non-executive director of Hot Chili Limited and Bravo Mining Corp., as well as the non-executive Chair of TDG Gold Corp.

Susan Craig
Director
Ms. Susan Craig is a geologist with over 35 years of experience in the mining industry, with a strong focus on regulatory, environmental, social, Indigenous, and community relations. Her career spans projects in Yukon and British Columbia across all stages of development, from exploration and permitting to production and closure. She held senior executive roles, including President & CEO and Director of Northern Freegold Resources, and worked extensively with governments, Indigenous communities, and publicly listed companies. Ms. Craig played key roles in advancing the Galore Creek project through its EA and in negotiating a landmark Participation Agreement with the Tahltan Nation. Prior to that, she was part of the team that permitted and developed the Brewery Creek gold mine and collaborated with the First Nation to implement one of Canada's first socio-economic accords. More recently, she supported Indigenous negotiations and the EA processes for the Kemess Underground and Kutcho Copper projects. Ms. Craig has received multiple industry awards recognizing her leadership in sustainable development, including the Canadian Women in Mining Trailblazer Award (2017), and the Yukon Women in Mining Champion Award (2013) and has been a longstanding advocate for responsible mining practices. Ms. Craig currently serves as chair of the Advisory Board at Lakehead University's Centre of Excellence for Sustainable Mining & Exploration, and is a non-executive director of Yukon Metals Corp.

_Verified data last updated: 2026-06-05_

## Recent filings

- 2026-06-09 — press_release — [ODV:CA_2026-06-09_20-28-27.pdf](https://chat.orbiton.app/osisko-development/preview/54845?documentId=54845)
- 2026-06-05 — other — [ODV:CA_2026-06-05_22-53-30.pdf](https://chat.orbiton.app/osisko-development/preview/54639?documentId=54639)
- 2026-06-02 — press_release — [ODV:CA_2026-06-02_20-14-42.pdf](https://chat.orbiton.app/osisko-development/preview/53963?documentId=53963)
- 2026-06-02 — press_release — [ODV:CA_2026-06-02_00-34-07.pdf](https://chat.orbiton.app/osisko-development/preview/53762?documentId=53762)
- 2026-06-01 — press_release — [ODV:CA_2026-06-01_07-39-17.pdf](https://chat.orbiton.app/osisko-development/preview/53352?documentId=53352)
- 2026-05-29 — annual_report — [ODV:CA_2026-05-29_16-05-03.pdf](https://chat.orbiton.app/osisko-development/preview/53300?documentId=53300)
- 2026-05-28 — press_release — [ODV:CA_2026-05-28_07-43-27.pdf](https://chat.orbiton.app/osisko-development/preview/53013?documentId=53013)
- 2026-05-27 — other — [ODV:CA_2026-05-27_16-12-43.pdf](https://chat.orbiton.app/osisko-development/preview/52979?documentId=52979)

## Investor FAQ

### [Latest news?](https://chat.orbiton.app/osisko-development/faq/latest-news)

The latest news from Osisko Development includes the press release dated June 9, 2026, which likely contains updates on the company's activities and projects. For specific details, please refer to the press release.

### [Projects Overview](https://chat.orbiton.app/osisko-development/faq/projects-overview)

Osisko Development is focused on two main projects: the Cariboo Gold Project in British Columbia, which is fully permitted and aims to produce approximately 1.89 million ounces of gold over a 10-year mine life, and the Tintic Project in Utah, which is in the exploration and development stage. The Cariboo Gold Project received an Environmental Assessment Certificate on October 10, 2023, and is supported by significant historical mining data.

## Live AI chat

- https://chat.orbiton.app/osisko-development/chat
- Investor website: https://osiskodev.com/