Osisko Critical Minerals Corporation Upsizes Previously Announced Private Placement of Special Warrants to C$250 Million

TORONTO, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Osisko Critical Minerals Corporation ("OCMC" or the "Corporation"), a newly incorporated entity and a wholly-owned subsidiary of Osisko Metals Incorporated ("Osisko Metals") (TSX: OM; OTCQX: OMZNF; FRANKFURT: 0B51), is pleased to announce an upsize of its previously announced "best efforts" private placement (the "Private Placement") of special warrants of the Corporation (the "Special Warrants"), from aggregate gross proceeds of up to $100 million to up to $250 million.

Incoming CEO John Burzynski commented: "The decision to upsize our Private Placement from $100 million to $250 million is a result of overwhelming demand from investors for OCMC. This strong reception reflects confidence in our exploration portfolio and the significant opportunity we see in New Brunswick. We look forward to completing this upsized offering to capitalize this new venture and to advancing our aggressive exploration program on these highly prospective copper assets and our larger critical minerals strategy."

The Private Placement is more particularly described in the news release of Osisko Metals dated September 16, 2026 titled "Osisko Critical Minerals Corporation Announces C$100 Million Private Placement of Special Warrants" (the "Prior News Release"). The Private Placement will be led by Canaccord Genuity Corp. ("Canaccord Genuity"), acting as lead agent and sole bookrunner, on behalf of a syndicate of agents (collectively, the "Agents"). All other terms of the Private Placement remain as described in the Prior News Release.

Bennett Jones LLP is acting as legal advisors to Osisko Metals in connection with the Private Placement. Peterson McVicar LLP is acting as legal advisors to OCMC in connection with certain corporate matters. Cassels Brock & Blackwell LLP is acting as legal advisors to the Agents in connection with the Private Placement.

Additional Information

There is no certainty that the Private Placement will be completed on the terms proposed, or at all. Completion of the Private Placement is subject to a number of conditions, including: completion of legal and tax structuring; completion of financial analysis; negotiation and execution of definitive documentation; and required regulatory approvals. There can be no assurance that any securities of the Corporation will be listed on any stock exchange.

About Osisko Critical Minerals Corporation

Osisko Critical Minerals Corporation is a newly incorporated Canadian mineral exploration company focused on the discovery and development of copper and critical minerals deposits. The Corporation's principal assets are the Properties, comprising approximately 645 square kilometres of mineral claims in northern New Brunswick, Canada. The Properties include the NB Copper Project, which hosts large-scale exploration targets for bulk-tonnage copper deposits in a geological setting analogous to the nearby Gaspé Copper Project. OCMC is led by John Burzynski as Chief Executive Officer and is a wholly-owned subsidiary of Osisko Metals Incorporated pending completion of the Private Placement.

For further information on this news release, contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information in this news release includes, but is not limited to, statements with respect to: the terms, timing, completion and outcome of the Private Placement, including the actual size of the Private Placement, the expected use of proceeds and the expected closing date; the completion of the related legal and tax structuring; the listing of any securities of the Corporation on any stock exchange; the future plans, objectives and business strategy of the Corporation, including with respect to the exploration and development of copper and critical minerals deposits; the Corporation’s exploration program on the Properties, including the NB Copper Project and the exploration targets thereon; the geological potential of the Properties, including the analogous geological setting to the nearby Gaspé Copper Project; and the anticipated role and leadership of the Corporation’s management team. Forward-looking information is based on certain assumptions and other factors, including: that the Private Placement will be completed on the terms described herein and in the Prior News Release; that required regulatory approvals will be obtained in a timely manner; that the Corporation will be able to execute on its business strategy and exploration plans; and that general market and economic conditions will not materially change. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks relating to the completion of the Private Placement; the inability to obtain required regulatory approvals; uncertainty regarding the listing of the Corporation’s securities on any stock exchange; risks inherent to mineral exploration activities, including the uncertainty of mineral resource estimates; changes in general economic, business and political conditions, including changes in the financial markets; fluctuations in commodity prices, including copper and other critical minerals prices; risks related to the early stage of the Corporation’s business and the Properties; and the other risks and uncertainties described in Osisko Metals' public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. For a more complete discussion of forward-looking information and the risks and assumptions related thereto, readers are referred to the Prior News Release and Osisko Metals' public disclosure record on SEDAR+.

Although Osisko Metals believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Forward-looking information in this news release is not a guarantee of future performance and involves estimates, assumptions, risks and uncertainties (including those described above and in Osisko Metals' public disclosure record on SEDAR+ (www.sedarplus.ca)). Actual results or events may differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Osisko Metals and the Corporation disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.