MONTREAL, QC — March 2, 2026 — Leads & Copy —
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has resumed activities at its Cariboo Gold Project in British Columbia after a temporary suspension due to a tragic incident on January 22, 2026.
The company implemented a phased reopening plan for both surface and underground operations, prioritizing the health and safety of employees and contractors, with approval from regulatory authorities.
Currently, over 250 personnel are on site, supporting pre-construction, early works, and exploration drilling.
Upgrades to the Bonanza Ledge water treatment plant are in the final stages of commissioning, with full operation expected in the coming weeks.
Approximately 2.1 kilometers of underground development has been completed from the Cow Portal into the Lowhee Zone, and along the main access ramp, encountering challenging ground conditions in the Lowhee fault, requiring enhanced ground support. Improved development rates are expected as the ramp progresses beyond this zone.
Infill drilling has resumed, with about 1.6 km remaining in the final drill fan under the ongoing 13-km underground program on the 1260 level. Additional exploration and infill drilling is ongoing on the 1290 level, with three drill rigs operating underground.
Six drill rigs are operating on two surface exploration programs. Three rigs are exploring below the Cariboo Gold deposit to a depth of 1,000 meters, with approximately 5,000 meters drilled and assays pending. A second program on the adjacent Proserpine regional target has commenced with three drill rigs, and approximately 500 meters completed.
Construction continues on the waste rock storage facility, sediment control pond, mine site complex area, and other infrastructure.
The upgrade and expansion of the site camp to 266 rooms is complete, providing accommodation for peak construction manpower requirements.
Sean Roosen, Chairman and CEO, thanked the site team for their commitment during the difficult period, emphasizing that the health and safety of everyone at Osisko Development remains the top priority.
Scott Smith, P. Geo., Vice President, Exploration of Osisko Development, has reviewed and approved the scientific and technical information in the news release.
Osisko Development Corp. is a North American gold development company focused on past-producing mining camps. The company aims to become an intermediate gold producer through the development of the Cariboo Gold Project in British Columbia. The Tintic Project in Utah is also part of its project pipeline.
Source: Osisko Development Corp.
