MONTREAL, Quebec — February 12, 2026 — Leads & Copy —
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has announced new infill drilling results from its ongoing 13,000-meter program on 10 meter drill spacing that commenced in August 2025 in the Lowhee Zone of the Company’s permitted, 100%-owned Cariboo Gold Project, located in central British Columbia, Canada.
The six drill hole fans reported comprise an additional ~5,043 meters of underground infill drilling, bringing the total tally of drilling with full results to 11,025 m, or ~80% of the planned total.
The infill program is anticipated to conclude in early Q2 2026.
According to Chris Lodder, President, the tighter drill spacing gives a better understanding of vein corridor spatial geometries and local variability specific to this part of the Lowhee deposit, while reinforcing the importance of continued drilling in underexplored zones. Lodder added that the resulting information is expected to help refine infill drill requirements and production designs and sequencing in the Lowhee Deposit of the Cariboo Gold Project as this work concludes.
An aggregate of approximately 12.1 kilometres, representing ~88% of the total planned drill meters, has been completed. Full assay results and associated quality assurance and quality control reviews are pending for the remaining holes not reported.
Infill drilling activities were suspended following the incident reported on January 23, 2026.
Assays are included from fifty-four underground infill HQ diamond drill holes totaling 5,043 m with depths ranging from 51 to 117 m completed between mid-October 2025 and December 2025. Assays for six complete drill fans were received by January 11, 2026.
Select photon assay highlights include:
596.40 g/t gold over 2.0 m in BMU-25-132 from 6.1 m downhole, including:
- 2,293.56 g/t over 0.5 m from 6.6 m downhole, and
- 90.95 g/t over 0.5 m from 7.6 m downhole
21.67 g/t over 3.5 m in BMU-25-145 from 96.5 m downhole, including:
- 135.44 g/t over 0.5 m from 99.5 m downhole, and
- 11.88 g/t over 0.6 m from 97.0 m downhole
21.97 g/t over 2.5 m in BMU-25-174 from 48.7 m downhole, including:
- 88.08 g/t over 0.5 m from 49.7 m downhole, and
- 20.91 g/t over 0.5 m from 50.2 m downhole
9.21 g/t over 4.9 m in BMU-25-157 from 53.9 m downhole, including:
- 39.26 g/t over 0.5 m from 54.9 m downhole, and
- 19.10 g/t over 0.5 m from 55.9 m downhole, and
- 15.95 g/t over 0.5 m from 55.4 m downhole, and
- 6.88 g/t over 1.0 m from 53.9 m downhole
10.57 g/t over 4.8 m in BMU-25-157 from 84.9 m downhole, including:
- 95.61 g/t over 0.5 m from 88.7 m downhole, and
- 2.84 g/t over 0.5 m from 80.0 m downhole
10.48 g/t over 4.0 m in BMU-25-140 from 11.0 m downhole, including:
- 54.01 g/t over 0.5 m from 12.4 m downhole, and
- 28.34 g/t over 0.5 m from 11.9 m downhole
6.91 g/t over 4.5 m in BMU-25-145 from 90.0 m downhole, including:
- 52.35 g/t over 0.5 m from 92.5 m downhole, and
- 2.36 g/t over 0.7 m from 90.5 m downhole, and
- 2.78 g/t over 0.5 m from 90.0 m downhole, and
- 2.10 g/t over 0.5 m from 92.0 m downhole
5.94 g/t over 4.7 m in BMU-25-163 from 41.1 m downhole, including:
- 18.91 g/t over 0.5 m from 43.65 m downhole, and
- 14.44 g/t over 0.65 m from 45.15 m downhole, and
- 8.94 g/t over 0.8 m from 42.0 m downhole, and
- 2.47 g/t over 0.5 m from 44.15 m downhole
15.75 g/t over 1.95 m in BMU-25-148 from 108.1 m, including:
- 30.84 g/t over 0.7 m from 108.1 m downhole, and
- 11.18 g/t over 0.75 m from 109.3 m downhole
10.46 g/t over 3.0 m in BMU-25-134 from 81.4 m, including:
- 51.40 g/t over 0.5 m from 82.9 m downhole, and
- 8.10 g/t over 0.5 m from 81.4 m downhole
Based on the results observed to date, the above cut-off assay composites show a general spatial correlation with the modelled reserve stopes. Individual intercepts are not expected to align precisely with the modelled areas, and a degree of variability within the vein corridors is both anticipated and acceptable as tighter spaced infill drilling informs a refinement of the local reserve model. This work is one of the key objectives of the ongoing program.
Occurrences of above cut-off assays are also being observed in areas not previously included in the reserve model, suggesting potential for upside mineralization. These intervals will be incorporated in the planned remodelling and mineral resource calculation process to determine their implications on the updated local block model and any potential adjustments to planned reserve stopes. In certain areas, this may support the addition of new planned reserve stopes, subject to the final estimation process outcome.
A spatial offset of certain intercepts when compared to the modelled vein corridors and mineral reserve stope shapes is evident in the cross sections. This reflects, in part, the lower spatial accuracy of the surface-based drill hole data compared to underground drilling, which carries higher survey precision, as well as the more oblique angles of intercepts that the surface-based drill holes have with the vein planes. These factors will be accounted for in the vein corridor remodelling process to be undertaken upon conclusion of this program and will serve as an important operational template for future infill drilling used in production stope design.
The Cariboo Gold Project is a permitted, 100%-owned feasibility-stage project located in the historic Wells-Barkerville mining camp of central British Columbia, Canada. Spanning approximately 186,740 hectares, the Company’s land package includes 443 mineral titles and covers a ~83-kilometre strike of highly prospective exploration targets extending northwest to southeast. In late 2024, the Project was granted the Mines Act and Environmental Management Act (British Columbia) permits, marking the successful completion of the permitting process for key approvals, solidifying the Project’s shovel-ready status.
The Cariboo Gold Project hosts probable mineral reserves of 2.071 million ounces of contained Au (17,815 kt grading 3.62 g/t Au); measured mineral resources of 8,000 ounces of contained Au (47 kt grading 5.06 g/t Au); indicated mineral resources of 1.604 million ounces of contained Au (17,332 kt grading 2.88 g/t Au); and inferred mineral resources of 1.864 million ounces of contained Au (18,774 kt grading 3.09 g/t Au). Mineral resources are reported exclusive of mineral reserves.
Osisko Development Corp. is a continental North American gold development company focused on past producing mining camps with district scale potential. The Company’s objective is to become an intermediate gold producer through the development of its flagship, fully permitted, 100%-owned Cariboo Gold Project, located in central British Columbia, Canada. Its project pipeline is complemented by the Tintic Project located in the historic East Tintic mining district in Utah, U.S.A., a brownfield property with significant exploration potential, extensive historical mining data, and access to established infrastructure. Osisko Development is focused on developing long-life mining assets in mining-friendly jurisdictions while maintaining a disciplined approach to capital allocation, development risk management, and mineral inventory growth.
Source: Osisko Development Corp.
