MONTREAL - Osisko Gold Royalties Ltd (the 'Corporation' or 'Osisko') (OR: TSX & NYSE) is pleased to provide the following corporate update.
PRELIMINARY Q4 2020 SALES
Osisko received approximately 18,800 attributable gold equivalent ounces1 ('GEOs') in the fourth quarter of 2020, for a total of approximately 66,100 GEOs in 2020, exceeding the revised guidance of 63,500 - 65,500 GEOs. The net proceeds from the Renard diamond stream were reinvested through the bridge loan with the operator of the mine.
Osisko recorded preliminary revenues2 of C$64.5 million during the fourth quarter. Preliminary cost of sales2, excluding depletion2, was C$18.2 million resulting in a cash operating margin3 of approximately C$46.3 million.
Excluding offtakes, Osisko's cash operating margin for royalties and streams3 was 93.5% during the fourth quarter of 2020 (97.1% excluding the Renard diamond stream).
Sandeep Singh, CEO of Osisko commented: 'We are extremely pleased with the strength of our business in the fourth quarter and on having exceeded our revised guidance for the year. The upward trend in GEOs continued during the quarter and we look forward to further growth catalysts in 2021 and beyond. Further in the release, we provide an update on certain producing and development stage assets. The depth of Osisko's portfolio is often overlooked, but we have a number of high-quality assets, at various stages of advancement, that have the potential to add significant value for shareholders.'
APPOINTMENT OF VICE PRESIDENT, INVESTOR RELATIONS
Osisko is also pleased to announce the appointment of Heather Taylor as Vice President, Investor Relations. Heather brings to the role over 15 years of capital markets experience in the metals and mining industry. Most recently, Ms. Taylor was Head of Business Development for Nexa Resources. Prior to that, she managed investor relations at Nevsun Resources until its sale. In addition, Heather brings with her a broad range of experience from former roles in institutional equity research, trading, sales and corporate development.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine.
Osisko's head office is located at 1100 Avenue des Canadiens-de Montreal, Suite 300, Montreal, Quebec, H3B 2S2.
Contact:
Heather Taylor
Tel: (514) 940-0670 #105
Email: htaylor@osiskogr.com
Forward-looking Statements
Certain statements contained in this press release may be deemed 'forward looking statements' within the meaning of applicable Canadian and U.S. securities laws. These forward looking statements, by their nature, require Osisko to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward looking statements. Forward looking statements are not guarantees of performance. These forward looking statements, may involve, but are not limited to, statements with respect to future events or future performance, the realization of the anticipated benefits deriving from Osisko's investments, the general performance of the assets of Osisko, and the results of development exploration and production activities as well as expansions projects relating to the properties in which Osisko holds a royalty, stream or other interest. Words such as 'may', 'will', 'would', 'could', 'expect', 'believe', 'plan', 'anticipate', 'intend', 'estimate', 'continue', or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward looking statements. Information contained in forward looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including, without limitation, management's perceptions of historical trends; current conditions; expected future developments; the ongoing operation of the properties in which Osisko holds a royalty, stream or other interest by the operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the operators of such underlying properties; no material adverse change in the market price of the commodities that underlie the asset portfolio; no adverse development in respect of any significant property in which Osisko holds a royalty, stream or other interest; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Osisko considers its assumptions to be reasonable based on information currently available, but cautions the reader that their assumptions regarding future events, many of which are beyond the control of Osisko, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect Osisko and its business. Such risks and uncertainties include, among others, that the financial information presented in this press release is preliminary and could be subject to adjustments, the successful continuation of mining activities in Quebec and more particularly of the operations underlying the Corporation's assets, the performance of the assets of Osisko, the growth and the benefits deriving from its portfolio of investments, risks related to the operators of the properties in which Osisko holds a royalty, stream or other interest, including changes in the ownership and control of such operators; risks related to development, permitting, infrastructure, operating or technical difficulties on any of the properties in which Osisko holds a royalty, stream or other interest, the influence of macroeconomic developments as well as the impact of and the responses of relevant governments to the COVID-19 outbreak and the effectiveness of such responses.
OSISKO GOLD ROYALTIES LTD 
