Osisko Development Divests San Antonio Gold Project

MONTREAL, Nov. 24, 2025 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce that it has entered into a securities purchase agreement dated November 21, 2025 (the "Purchase Agreement") with Axo Copper Corp. (TSXV:AXO) ("Axo") to sell its 100% interest in the San Antonio Gold Project ("San Antonio" or the "Project") located in the Sonora State, Mexico. Pursuant to the Purchase Agreement, Axo will acquire Sapuchi Minera S.A. de R.L. de C.V. ("Sapuchi"), which holds a 100% interest in the mineral concessions comprising San Antonio, subject to the satisfaction of certain conditions (the "Transaction").

Osisko Development has officially announced that it has reached a significant agreement to divest its non-core San Antonio Gold Project, situated in Mexico. This strategic move is part of Osisko's broader operational focus and aims to streamline its portfolio while rationalizing its resource management.

The San Antonio Gold Project has been considered an asset that does not align with Osisko's primary strategic objectives. By divesting this project, Osisko Development intends to concentrate on its more lucrative gold projects, thus optimizing resource allocation and capital investment towards areas with higher potential returns.

This decision follows a thorough review of Osisko's asset portfolio, emphasizing the company's commitment to maximizing shareholder value. The intended buyers have shown strong interest in the development potential of the San Antonio project, signaling a promising transition for both parties.

Through this divestment, Osisko Development affirms its strategic priority of focusing on advancing its flagship projects that are essential for achieving long-term sustainable growth in the gold market. The company believes that this transaction will enhance its operational efficiencies and develop a more focused approach toward its primary mining activities.

The divestment of the San Antonio Gold Project highlights the dynamic nature of the mining and resource sector, where companies continually adapt and restructure their portfolios in response to market conditions and investment opportunities. Osisko Development's proactive strategy reflects an understanding of the necessity to prioritize assets that align closely with its operational goals and expectations for future growth.