Published: October 20, 2023 |

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Osisko Development Corp. has received an environmental assessment (EA) certificate for the company’s 100 percent owned Cariboo Gold Project located in central British Columbia, Canada.

The EA certificate was granted by the Environmental Assessment Office of the Province of British Columbia (EAO). Receipt of the EA certificate successfully concludes the EA process for the project, which was launched in October 2019.

“We are proud to be the first project, mining or otherwise, in BC to receive an EA certificate under the new streamlined EA framework of the Environmental Assessment Act, 2018, and we commend the EAO and the Government of BC for establishing this robust regulatory framework,” said Sean Roosen, chairman and CEO.

“Receipt of the EA certificate marks a major, positive milestone for the Cariboo Gold Project. We continue to be encouraged by the steady progress made to de-risk the project, bringing it closer to shovel ready status. As we all know, development projects fall into two buckets — those with permits and those without permits — and we are keen to unlock significant value at the Cariboo Gold Project as we move along that path,” added Roosen.

“I would like to thank our team for their dedication and tireless efforts in shepherding the project through this rigorous EA process that started in 2019. Together with our partners and stakeholders, we remain committed to developing a modern, safe and sustainable operation that benefits all,” concluded Roosen.

“We are extremely proud of the relationship fostered with Osisko Development on the Cariboo Gold Project over the past several years. This relationship has been reciprocal from day one, and Lhtako Chief and Council look forward to many more years of partnership and collaboration,” said Lhtako Dené Nation Chief and Council.

“Recently, Lhtako and Osisko engaged in the EA process for the company’s Cariboo Gold Project. Environmental risks, as well as wildlife concerns, are top priorities for both Osisko Development and the Lhtako Dené Nation. With the EA process now complete, we are quite confident that all of our areas of concern have been addressed and mitigated throughout this process,” added the Lhtako Dené Nation.

“This decision reflects the importance of meaningful collaboration between industry and Indigenous communities. This is a significant milestone in advancing sustainable mining practices within our traditional territory, particularly the QR Mill Site near Likely, BC. WLFN remains committed to monitoring the project’s progress to ensure it upholds the highest environmental and cultural standards. We look forward to continuing our positive partnership with Osisko Development,” said Chief Willie Sellars of the Williams Lake First Nation (WLFN).

“Xatśūll First Nation would like to congratulate the success of Osisko Development in being awarded approval for the Cariboo Gold Mine Project. We acknowledge the hard work, dedication and collaboration that went into getting the project to this point. Working together to ensure resource development projects meet environmental sustainability targets and improve the socio-economic wellbeing of our communities is a high priority for Xatśūll First Nation,” said Chief Rhonda Phillips of the Xatśūll First Nation.

The EA certificate is the first step in the permitting process of the Cariboo Gold Project. On May 8, 2023, the company signed two landmark permitting agreements — the process charter and the joint information requirements table — which establish a defined regulatory process timeline and outline all agreed upon information requirements to support a robust permit application for submission.

A joint permit application for the BC Mines Act / Environmental Management Act is in process. The company anticipates receiving the permits in Q1 2024.

The Cariboo Gold Project is an advanced stage gold project 100 percent owned by the company located in the historic Wells-Barkerville mining camp, in the District of Wells, central BC, Canada. The company’s total land package consists of 415 mineral titles. The company completed a feasibility study in January 2023 supported by the technical report.

Osisko Development Corp. is a premier North American gold development company focused on high-quality past-producing properties located in mining friendly jurisdictions with district scale potential. The company’s objective is to become an intermediate gold producer by advancing its 100 percent owned Cariboo Gold Project, located in central B.C., Canada, the Tintic Project in the historic East Tintic mining district in Utah, U.S.A., and the San Antonio Gold Project in Sonora, Mexico. In addition to considerable brownfield exploration potential of these properties, that benefit from significant historical mining data, existing infrastructure and access to skilled labor, the company’s project pipeline is complemented by other prospective exploration properties. The company’s strategy is to develop attractive, long-life, socially and environmentally sustainable mining assets, while minimizing exposure to development risk and growing mineral resources.

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