Osisko Mining Urges Shareholders to Be Cautious With Goldcorp

Osisko Mining Corporation today commented on Goldcorp Inc.’s decision to extend its hostile take-over of Osisko which was initiated January 14, 2014, until March 21, 2014.

In a news release issued March 10, 2014 Osisko reminded all shareholders that, pursuant to the settlement agreement entered into by Goldcorp and Osisko, Goldcorp is prohibited from taking up and paying for any Osisko shares deposited to its hostile take-over bid prior to April 15, 2014.

The Goldcorp offer continues to be highly conditional. Until April 15, 2014, absent intervening events.

“Osisko shareholders should expect to receive further extensions from Goldcorp in addition to communications with respect to the waiver or satisfaction of the numerous conditions to the Goldcorp offer,” Osisko’s news release reported.

Osisko is continuing to manage a robust process to aggressively pursue a range of value maximizing alternatives that are in the best interests of Osisko, the Osisko shareholders and other stakeholders.

The settlement contemplates that the deadlines described above may be abbreviated if Osisko announces a value maximizing alternative to Goldcorp's hostile bid prior to April 15, 2014.

Reject the Inadequate Goldcorp Offer

As previously disclosed, the Osisko Board of Directors has unanimously recommended that Osisko shareholders reject the hostile take-over bid initiated by Goldcorp and not tender their Osisko shares to the Goldcorp offer. The Osisko Board determined that the Goldcorp offer fails to adequately compensate Osisko shareholders for, among others things, the strategic value of Osisko's world-class asset base, the significant upside potential of Osisko's Canadian Malartic Mine, or the increased risk inherent in Goldcorp common shares. The full basis for the Osisko Board's recommendation is available in a Directors' Circular, a copy of which is available online at www.osisko.com.

Shareholders who have questions or who may have already tendered their shares to the Goldcorp Offer and wish to withdraw them, may do so by contacting our Information Agent, Laurel Hill Advisory Group at:

About Osisko Mining Corporation

Osisko Mining Corporation operates the Canadian Malartic Gold Mine in Malartic, Quebec and is pursuing exploration on a number of properties in Ontario and Mexico.