Osisko Development Completes Sale of San Antonio Gold Project

MONTREAL, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) (collectively with its subsidiaries, "Osisko Development" or the "Company") is pleased to announce that it has completed the previously announced sale of its 100% interest in the San Antonio Gold Project ("San Antonio" or the "Project") located in Sonora State, Mexico, to Axo Copper Corp. ("Axo") through the sale of all of the issued and outstanding equity interests of Sapuchi Minera S. de R.L. de C.V. ("Sapuchi Mexico") (the "Transaction").

Osisko Development has announced the successful completion of the sale of its San Antonio Gold Project located in Mexico. This significant transaction comes as part of their strategic focus on optimizing and diversifying their portfolio of mineral projects. The San Antonio Gold Project, known for its potential, has been an area of interest due to its favorable geological conditions and the presence of gold mineralization.

The sale, finalized on January 28, 2026, reflects Osisko Development's commitment to maximizing shareholder value and escalating its operational efficiency. The company has made considerable advancements in streamlining its assets towards more lucrative opportunities while mitigating risks associated with project development. This move also allows Osisko to allocate resources towards other projects that align more closely with their long-term strategic goals.

In the lead-up to the sale, Osisko Development conducted an extensive evaluation of the San Antonio Gold Project. This investigation highlighted the project's attributes, as well as the opportunities present within the mining sector in Mexico. The decision to sell was also influenced by market conditions and the evolving landscape of gold exploration, reaffirming the company's adaptive approach to business.

The purchaser of the San Antonio Gold Project is expected to utilize their expertise to advance the project, with a strong focus on further exploration and potential production developments. This transition marks an exciting phase for the San Antonio project as it enters new hands that are poised to unlock its intended value.

Overall, Osisko Development's divestiture of the San Antonio Gold Project is a strategic pivot that underscores the company's agile management approach. By shedding assets not essential to its core strategy, Osisko is better positioned in the competitive landscape of the mining industry, preparing for future growth trajectories that may yield sustainable success for its investors.