Osisko Development Restarts Activities at Cariboo Gold Project

MONTREAL, March 02, 2026 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") announces the resumption of planned site activities at its Cariboo Gold Project (the "Project") in British Columbia, following a temporary suspension related to an isolated tragic incident that occurred at surface on January 22, 2026. A phased gradual reopening plan of surface and underground activities was successfully implemented over the last several weeks, while ensuring the health and safety of all employees and contractors, in coordination with and approval from the relevant regulatory authorities.

Osisko Development has announced the resumption of planned site activities at the Cariboo Gold Project, signaling a significant milestone in their operations. The company has faced challenges in its workflow but is poised to progress now that all necessary permits have been secured. This restart is pivotal for Osisko as they aim to advance the project towards its next phases, which include increased exploration and development of gold resources.

The Cariboo Gold Project, located in British Columbia, exhibits great potential with its substantial gold reserves. Osisko Development has been actively working to enhance the project's viability, investing considerable resources and efforts into exploration and infrastructure development. The management emphasizes the strategic importance of Cariboo in their overall portfolio and the long-term benefits it offers not just to the company but also to the local economy through job creation and other economic activities.

Furthermore, the company highlighted its commitment to sustainable development practices at the site. This includes the application of new technologies to minimize environmental impact and engagement with local communities to ensure their needs and concerns are addressed. Osisko's focus on responsible mining practices reflects broader industry trends towards more sustainable operations. The resumption of activities also aligns with their long-term vision of enhancing exploration, aiming for not just immediate yields but a sustainable model that benefits various stakeholders.

Investors have reacted positively to the news, perceiving it as a reliable signal of Osisko's progress and reliability as a developer within the mining sector. The outlook for gold prices remains strong, thus providing a favorable environment for gold mining projects. By resuming activities at the Cariboo Gold Project, Osisko Development aligns itself to capitalize on these favorable market conditions.

In conclusion, the announcement of the resumption of activities at the Cariboo Gold Project marks a turning point for Osisko Development. With their compliance to necessary regulations and focus on sustainable practices, the company is set to make significant strides in the extraction and production of gold, contributing not only to their operational success but also to the economic well-being of regions affected by their projects. This proactive approach places Osisko Development on a strong path forward in the competitive mining industry.