Environmental Certificate Issued For Cariboo Gold Project Near Barkerville

October 13, 2023

WELLS – Gold will once again be mined near Barkerville, as the province has issued an

Environmental Assessment Certificate to the Osisko Development Corp. for its Cariboo Gold Project.

The Cariboo Gold Project, 100 per cent owned by Osisko, is an advanced stage gold project in the Wells-Barkerville mining camp in the historic Wells-Barkerville mining camp, in the District of Wells east of Quesnel that extends for approximately 77 kilometres from northwest to southeast. The EA was applied for four years ago, in October, 2019.

“Receipt of the EA certificate marks a major, positive milestone for the Cariboo Gold Project,” says Osisko Chairman and CEO Sean Roosen. “We continue to be encouraged by the steady progress made to de-risk the project, bringing it closer to shovel ready status. As we all know, development projects fall into two buckets – those with permits and those without permits – and we are keen to unlock significant value at the Cariboo Gold Project as we move along that path.

“I would like to thank our team for their dedication and tireless efforts in shepherding the Project through this rigorous EA process that started in 2019. Together with our partners and stakeholders, we remain committed to developing a modern, safe and sustainable operation that benefits all.”

The EA Certificate is the first step in the permitting process of the Cariboo Gold Project. In May, the Osisko announced the signing of two landmark permitting agreements – the Process Charter and the Joint Information Requirements Table – which establish a defined regulatory process timeline and outline all agreed upon information requirements to support a permit application for submission.

First Nations in the area are pleased with the project, including Lhtako Dene Nation, Xatsull First Nation and Williams Lake First Nation.

Chief Willie Sellars of the Williams Lake First Nation noted “This decision reflects the importance of meaningful collaboration between industry and Indigenous communities. This is a significant milestone in advancing sustainable mining practices within our traditional territory, particularly the QR Mill Site near Likely. WLFN remains committed to monitoring the Project’s progress to ensure it upholds the highest environmental and cultural standards. We look forward to continuing our positive partnership with Osisko Development.”

Chief Rhonda Phillips of the Xatśūll First Nation adds “We acknowledge the hard work, dedication and collaboration that went into getting the project to this point. Working together to ensure resource development projects meet environmental sustainability targets and improve the socio-economic wellbeing of our communities is a high priority for Xatśūll First Nation. We look forward to continuing work with Osisko and other stakeholders to advance this Project.”

Osisko’s total land package consists of 415 mineral titles and covers an area of approximately 1,920 square kilometres. As of last December 30, the project’s probable reserves totalled 16.70 million tonnes grading 3.78 g/t gold for 2.031 million ounces.

Business Examiner Staff

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