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Osisko Development Announces the Vote Results From Its Annual and Special Meeting of Shareholders

Press Release

(Montréal, April 27, 2022) – Osisko Development Corp. (“Osisko Development” or the “Corporation”) (TSX.V-ODV) announces that, at the annual and special meeting of shareholders held on April 26, 2022, each of the 6 nominees listed in the management information circular filed on April 4, 2022 with the regulatory authorities were elected as directors of the Corporation.

Election of Directors

Based on the proxies received, the following individuals were elected as directors of the Corporation until the next annual shareholders’ meeting, with the following results:

RESOLUTION No1 Votes cast Percentage (%) Votes Percentage (%)
of votes cast
Name of Nominee FOR WITHHELD WITHHELD
FOR
Marina Katusa 116,471,844 99.997 3,984 0.003
Michèle McCarthy 116,446,149 99.975 29,679 0.025
Duncan Middlemiss 116,445,349 99.974 30,479 0.026
Charles E. Page 116,444,649 99.973 31,179 0.027
Sean Roosen 116,444,800 99.973 31,028 0.027
Éric Tremblay 116,440,821 99.970 35,007 0.030

Appointment and Remuneration of Auditor

Based on the proxies received, PricewaterhouseCoopers, LLP, Chartered Professional Accountants, was appointed as independent auditor of the Corporation for the ensuing year and the directors are authorized to fix its remuneration, with the following results:

RESOLUTION No2 Votes cast Percentage (%) Votes Percentage (%)
of votes cast
FOR WITHHELD WITHHELD
FOR
Appointment and Remuneration of
Auditor 116,755,518 99.960 46,827 0.040

Approval of the existing Stock Option Plan

Based on the proxies received with respect to the adoption of an ordinary resolution to approve the Corporation’s existing Stock Option Plan, the results are as follows:

RESOLUTION No3 Votes cast Percentage (%) Votes cast Percentage (%)
of votes cast
FOR AGAINST AGAINST
FOR
Ordinary  Resolution  to  approve  the
existing Stock Option Plan 115,709,094 99.342 766,734 0.658

Approval of the Share Consolidation

Based on the proxies received with respect to the adoption of a special resolution authorizing an amendment to the articles of the Corporation to effect a consolidation of the issued and outstanding common shares of the Corporation for a number to be determined within a range of two (2) and three (3) pre-consolidation common shares and authorizing the directors of the Corporation to determine the final consolidation ratio within such range, the results are as follows:

RESOLUTION No4 Votes cast Percentage (%) Votes cast Percentage (%)
of votes cast
FOR AGAINST AGAINST
FOR
Special resolution to approve the Share
Consolidation 116,414,128 99.947 61,700 0.053

Following the annual and special meeting of shareholders of the Corporation, the Board of Directors determined to consolidate its common shares on a 3 for one basis, subject to the receipt of all necessary approvals.

About Osisko Development Corp.

Osisko Development Corp. is uniquely positioned as a premier gold development company in North America to advance the Cariboo Gold Project and other Canadian and Mexican properties, with the objective of becoming the next mid-tier gold producer. The Cariboo Gold Project, located in central British Columbia, Canada, is Osisko Development’s flagship asset with measured and indicated resource of 21.44 million tonnes at 4.6 g/t Au for a total of 3.2 million ounces of gold and inferred resource of 21.69 million tonnes at 3.9 g/t Au for a total of 2.7 million ounces of gold. The considerable exploration potential at depth and along strike distinguishes the Cariboo Gold Project relative to other development assets as does the historically low, all-in discovery costs of US$19 per ounce. The Cariboo Gold Project is advancing through permitting as a 4,750 tonnes per day underground operation with a feasibility study on track for completion in the first half of 2022. Osisko Development’s project pipeline is complemented by potential near-term production targeted from the San Antonio Gold Project, located in Sonora, Mexico.

For further information about Osisko Development Corp., please contact:

Jean Francois Lemonde, VP Investor Relations
Telephone: (514) 299-4926
Email: [email protected]

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