Osisko Exploration has concluded acquisition of the East Amphi property and related surface equipment from Richmont Mines. Osisko will immediately proceed with the acquisition and compilation of Richmont’s East Amphi data base with the objective of defining drill targets for potential bulk tonnage gold mineralization.

Osisko’s 100%-owned Canadian Malartic gold deposit in Quebec, Canada, and adjacent areas are being evaluated for a large-scale open pit, bulk-tonnage mining operation. A preliminary NI 43-101 compliant, inferred gold resource estimate on the main deposit was released on December 6, 2006 and the full report is available on SEDAR. Ongoing drilling is leading to an upgraded inferred resource calculation, which is slated to be released in early July 2007.