Osisko Development Advances Cariboo Gold Project Toward Production as Regional Interest Builds

By Jamie Hyland, MiningIR.com

Osisko Development Corp. (TSXV: ODV | NYSE: ODV), a leading Canadian gold development company, continues to progress toward production at its flagship Cariboo Gold Project, located in British Columbia’s historic Barkerville mining district. The project is now nearing a pivotal transition from advanced exploration and permitting into construction and, ultimately, commercial production—positioning Osisko as a potential key player in Canada’s next wave of mid-tier gold producers.

In its recently released fourth quarter and year-end 2024 financial results, Osisko Development reported holding approximately $106.7 million in cash and cash equivalents, providing strong financial footing for continued advancement at Cariboo. The Company also disclosed that approximately $36.0 million (US$25.0 million) was drawn under its delayed draw term loan with the National Bank of Canada, maturing on October 31, 2025. This capital structure supports ongoing development activities, including site preparation, infrastructure advancement, and final permitting.

Located near the historic town of Wells, BC, the Cariboo Gold Project represents one of the most promising high-grade, district-scale gold assets in Canada. The Project encompasses 192,000 hectares of mineral rights and continues to demonstrate robust potential with a growing resource base. The Company has been focused on advancing key infrastructure, including the QR Mill and underground ramp development, while simultaneously progressing toward a final permit decision expected in the near term.

The project’s environmental assessment certificate (EAC) application has undergone thorough review under British Columbia’s updated Environmental Assessment Act, with substantial consultation from Indigenous groups and local stakeholders. Osisko Development’s collaborative and transparent approach has earned strong regional support and set a new benchmark for responsible mining in the province.

Importantly, Osisko’s Cariboo footprint is drawing increasing attention to the surrounding region. Golden Cariboo Resources Ltd. (CSE: GCC | OTCQB: GCCFF | WKN: A0R2CQ | FSE: 3TZ) is strategically positioned, holding claims contiguous on three sides of Osisko’s Cariboo Project. With exploration targets aligned along the same prospective geological structures, Golden Cariboo may benefit significantly from Osisko’s infrastructure development and continued drilling success. Investors and analysts are watching closely as Golden Cariboo prepares for its 2025 exploration season, aiming to further validate its potential across this historically productive gold belt.

The broader Cariboo mining district has long been known for its prolific production, dating back to the 1860s gold rush. Today, modern exploration techniques and the availability of critical infrastructure—such as roads, power, and processing facilities—have revitalized interest in the area. With Osisko Development’s project acting as the anchor, the region is rapidly emerging as a high-potential, multi-operator mining hub.

Looking ahead, Osisko Development’s leadership remains focused on value creation through disciplined project execution and a strong commitment to ESG principles. The Company’s updated 2025 guidance is expected to outline construction milestones, potential production timelines, and a framework for long-term scalability.

As the Cariboo Gold Project moves closer to production, investors should keep a keen eye on developments from both Osisko Development and Golden Cariboo Resources. The synergies between these two players could further unlock value across the entire district, providing exposure to one of the most dynamic emerging gold camps in North America.

Stay connected with MiningIR for continued updates on Cariboo’s path to production and Golden Cariboo’s evolving exploration strategy.

ABOUT OSISKO DEVELOPMENT CORP.

Osisko Development Corp. is a North American gold development company focused on past-producing mining camps located in mining friendly jurisdictions with district scale potential. The Company’s objective is to become an intermediate gold producer by advancing its flagship fully permitted 100%-owned Cariboo Gold Project, located in central B.C., Canada. Its project pipeline is complemented by the Tintic Project in the historic East Tintic mining district in Utah, U.S.A., and the San Antonio Gold Project in Sonora, Mexico—brownfield properties with significant exploration potential, extensive historical mining data, access to existing infrastructure and skilled labour. The Company’s strategy is to develop attractive, long-life, socially and environmentally responsible mining assets, while minimizing exposure to development risk and growing mineral resources.

For further information, visit our website at www.osiskodev.com or contact: