Osisko Gold Group Inc.

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Founder, president, CEO, and director of the Cisco Mining Corporation, he was responsible for developing the strategic plan for the discovery, financing, and development of the Canadian Malartic Mine. And he also led the, the efforts that, spawned off a Cisco royalties. He's currently the founder, executive chairman and CEO of Cisco Development Corp, which he'll talk about this afternoon. he's received many accolades over his, his long-standing career, including, an award from Minds and Money Americas for best CEO, top 20 most influential individuals, and so on. Mhm Don, thanks very much. I grab this one. So over to you, Sean. Thanks. All right, thank you, everybody for, making the time for us today. so, in traditional Cisco fashion, a bit about myself and the background. Don did a good job summing it up. founder of a Cisco Mining One, founder of a Cisco Gold Royalties, and was currently CEO and chairman of a Cisco Development. we built about $17 billion worth of company under companies under the Cisco Development. Under the Cisco brand, and currently I have a sister company called O Cisco Metals, which is doing the, the Gas Bay Copper project. So, I know you guys like these cautionary statements, but I'm gonna skip through it for you. in terms of what we're doing here, the advanced program that we're working on is focused on the Caribou Gold Project and our TinTech project in Utah. currently, the main focus is on the Cariboo Gold Project, and we'll talk a little bit about Tintech at the end. We've been, we've been to this movie before, so we have a large project located in central British Columbia, called the Caribou Gold Project, and where we see it right now. it's becoming one of the bigger development projects, in the space, with phase one being our 200,000 ounce year mine with a 2 million ounce reserve on it, with another 3.5 million ounces of measurement indicated and inferred, and that's just down to a depth of 350 m. We've raised a bunch of money, since we've published our feasibility study in spring of 2025. so we've done, about $885 million US dollars of available financing since we did this feasibility update. So the numbers are fresh. This feasibility study was completed within the last 12 months. $203 million of, of equity, an initial draw of $100 million from an APN facility, and we have an additional $350 million US dollars, that we're working on with the APN that we probably see sometime early Q3 as we complete the final investment decision FID. And as you can see, that would bring us to about $885 million or about $1.2 billion Canadian dollars. The capex for the project is about $653 million. US, so we have some excess, financing in place that we're using for drilling, on the future, deposits that are around and and and below us, in this project. so, you know, we've been very active on that front and the markets have, have been very accommodating and we've got, had very good access to capital. So we received our full permitting process in November of 2024. so we're fully permitted, fully financed, in construction in British Columbia with a power allocation from BC Hydro, which is green power from site C at 6.6 cents Canadian a kilowatt hour. We also own our milling equipment which is on our property, in Prince George. and we're in construction underground for about 2.2 kilometers as well as, some of the infrastructure that we'll see later on in the deck. The way that we think about this company, is in comparison, to some of the, the companies that are mentioned on this slide. so if you want to understand how we think about things tactically and how we think the most, most, catalyst that we can obtain for shareholders in the short to near term, as well as the mid and long term, this is the slide that does it. If you look at where we. Sorry? So, you know, in terms of, of what we're trying to achieve here, the G mining is a good model for us. So they're sitting at about $12 billion.17 billion dollars market cap, as we sit today. They have one mine in Brazil in production. They have a, a mine in Guyana that is under construction, and they're in the acquisition mode, for G2. We can achieve all the things that G Mining is doing right now on the footprint that we have and within the permit. that we have in our existing, we have to execute and we'll be in production with phase one of this project, in the beginning of 2028. So, you know, we're not that far out and we've got the money in the bank. We've got the permits in hand. Some of the other things we looked at in this, in this slide, we see the market cap on the vertical scale, and we see the annual ounces of production on the horizontal scale. The importance of that is that not all ounces are created equal. 100,000 ounces of production, for example, at West Dome, gets about a $2 billion enterprise market cap value on the scale. 100,000 ounces of production under Alamos, which is a 600,000 ounce a year producer, gets $4.4 billion so more than a double from where the West Em's valuation is. And if we look at the, the G Mining, they get about a $6 billion valuation for the same 100,000 ounces that's in production today because the market is giving them credit for future production. So we think that for us the truth lies somewhere in between. The first milestone for us is to get to where West Dome is. with phase one, we would get to 200,000 ounces year production with eyes on our second project. Sorry, can you guys. Can you guys correct the screen, please? OK, thank you. So you know where we are on, on this, slide is if you look at the 200,000 ounces a year, you can see there's quite a cluster of companies in there. if you go to 400,000 ounces a year, which is where we believe we get to by developing our 2 million ounces of reserves and about 60% of our measured and indicated and inferred ounces, that would be the target. You see that, you know, SKA's in there, you see Lundin Gold, and then Alamos is over at the 50,000 to 600,000 ounce a year bracket. and you know, Alamos is at about a $27 billion market cap. Lundin gold at 400,000 ounces a year is at $27 billion. Artemis is, sitting at around $8 billion. Dollars, for about 400,000 ounces a year. So we want to get into that dotted zone. That's our target, in the near term and, we're gonna tell you how we do that now. Sorry, can you go to the next slide? It's not working. Thank you. So this project is located in northern BC, outside of the town of Quinnell, which has a couple of mines in the area. So we have Quinnell, we have Prince George, we have Wells, within that area we have Tesco's Gibraltar mine, and we have Imperial's Mount Polly mine as well. so these, these projects are, you know, this is a mining area that's been a mining camp since 1859. What we have in our existing spot is. 2 million ounces in the reserve category, as you can see in probable reserves. We have, 1.61 million ounces in measured and indicated. We have another 1.864 million ounces in the inferred category. If you add all that up, it's 5.6 million ounces. a feasibility study has been completed. as we said, the numbers on the feasibility study are here 190,000 ounces a year over 10 years, starting at a 200,000 ounces a year for the 1st 5 years. 10-year mine life, 24 month mine build pushing us into. first half of 2028 for production. an ASIC of $1,157 an ounce, which as today would leave us about a $3600 US dollar an ounce margin. Or if you look at the 200,000 ounces a year, it would be somewhere in the neighborhood, of about a billion dollars Canadian or about $650 million US dollars, in profit per year, at the current gold price of $4700. If we look at the NPV of the project at $4500 goal, we're at $3.25 billion. And we're at 51.9% IRR. Again, this is just on the reserve base. It doesn't include the other 3.6 million ounces. Initial capex of $652 million US or $881 million Canadian, so relatively low cost. And the reason for that is this is a brownfield site, and we also own a significant amount of the processing equipment already. and we've spent about $100 million on the project, for infrastructure adjustments that are already paid for. A little of that infrastructure that we've done, so things that we needed to do pre-construction, set the stage was the, the, the, the waste rock stockpile that you see in the top left, the water treatment facility, which handles all our contact water before we release it. And then the bottom left is the sediment control pond, and the middle slide is the 270-man camp, that's gonna be expanded to 370 men. And then on the right is inside of our commissioning of the water treatment plant. So, a lot of that work is underway. Originally, I talked about the first two mines. The pink M is the reserves. That's the 2 million ounces that we have right now. And as you can see, there's a lot of blue ounces around that. The blue ounces are the measured indicator inferred. So, the immediate catalyst for shareholders is the conversion of those ounces into the M plan. So we, if we look at about a 60% conversion rate on the blue ounces from 3.6 million ounces, we would expect to see a conversion of roughly another 2 million ounces to the reserve category, bringing it to 4 million. So that's, that's gonna happen in the next 24 months as we open up the underground, we complete that infill drilling from the underground, as we get back into it. Now, this slide shows a longer section of the same zone. this is 4.4 kilometers of strike length out of a total of 83 kilometers of known mineralization in this system. The red represents the vision indicated, the inferred, and the reserves, so it's about 5.6 million ounces in the red. So, that red has got conversion drilling on the go right now. There's 3 drills underground now, and we'll go to 5 or 6 as we get more underground opened up. But the near-term catalyst that we'll see, for shareholders in the next 3 to 6 months starting up is the infill drilling from the gray zone down below us as we add depth. So, in this 1st 350 m, the red zone, we've averaged about 1.5 million ounces for each 100 m vertically, we've gone down. So if you extend that down to 15 to 1000 m, you have a chance at 15 million ounces. Now, we haven't drilled that yet, so that's a very forward-looking statement, but we are drilling it now. And you can see historically in some of the graves, the old underground miners went down below where we are right now. So we know that the deposit goes down to at least 1000 m. We think it can go significantly deeper. It's an orogenic system. we think that it probably goes down to 1500 to 2000 m. So. If you're to extend it down to 2000 m, the numbers get a bit crazy, but this is a very big system and it's the reason that I'm still not sitting on my dock, driving my boats around because we're pretty passionate about these big projects. this is a, you know, a chance for another Canadian Malarctic style win for us. we think that this project's gonna generate probably 4 or 5 mines, over the course of the development as we get further into it. and then for those of you who know us, We operate on what's called the SUD system, which stands for shut up and drill, stupid. and we've been successful with that tactic, and we're gonna be probably running, we're at 11 drills right now. We'll probably have 20+ drills here going in, in Q3, as we get further into this. as you see the inset on the right-hand corner, this deposit is a little bit different than what we see typically in Canadian gold deposit. This is a sediment hosted deposit, and it's opened up, like an accordion or a book. on the anticlinal structures and we get these main corridors, we've documented 481 of them economically so far, and they run about 500 m long on average, perpendicular to the long strike. Now, we've drilled down to 350. We've drilled down to 1000 test work, but we're in the process right now of documenting the ounces from 350 down to 1000 m vertically. And once we're finished with that, we'll push down to probably 1500 m. So there's quite a bit of Drill information coming at you this year. and we believe that one of the big resets in this market and getting closer to that G-mining expectation is we need to demonstrate that these at-depth ounces are real. The other aspect of these at-depth ounces that's very important is that they're permitted. So, everything within that 4.4 kilometer long strike length is covered by the mining permit. We have a 4900 ton a day permit right now, and we'll be looking to expand that to 7500, 10,000, and on up to 15,000 tons a day as we document more of it, vertically. but we started out at 4900 tons a day because in Canada, that kept us out of a federal EA process and we were able to achieve full permitting here in 4 years, 10 months, which in the industry is, is pretty good. So we've had good support from the BC government on permitting, good support from our First Nations partners, and we were able to get a, a fairly expeditated process for this project. So that's, you know, taking advantage of that permit area. To put this in context and compare it to something that you probably know something about, we've shown you the Young Davidson mine owned by Alamos here, as well as the Goldex Mine and the Laurent mine, both owned by Agnico. So, our grade is at 3.62 g. The Young Davidson grade is at 2 g. Goldex is one of the lower grade, bulk tonnage underground mines in the world at 1.55 g. And, Larond is exactly the same grade as us at 3.62 g. So if you were to look at our strike length of 4.4 kilometers, you could actually put the Young Davidson M in here four times. they're mining at 8000 tons a day and producing about, 2, about 175,000 ounces a year, but their ASIC is $1300 US an ounce at about 60% of the grade of what we have. So, we have higher grade, much bigger strike length, which allows us to look at bigger mining techniques because we have more room, to move around in. If you look at gold decks, they're about $1300 an ounce, highly mechanized mining method, about 1.5 g, less than half the grade of what we're seeing here at Caribou. And then the Rhond is right on the same grade as we are, but they've got a, they're at 3300 tons a day. They've got a high grade pod down at the bottom that's almost 3000 m down. so they're, they're about 1.5 kilometers strike length and they're lower grade component on the top. All that to say that with 4.4 kilometers, of strike length, you have quite an advantage. What this means in the big picture is if you look at the Caribou Gold Project, it's the 4 kilometers off to the, off to the left here. And then you have another 10 kilometers of information that we have gathered. We've done some drillings on Barkerville Mountain Williams Creek, but right now, we're focused on the Proserpine Mountain area, which is 6 kilometers long. So it's, it's almost 60, almost 50% longer strike length than the Caribou goal project. The Caribou project is about 500 m wide into the screen, and this one's about 1 kilometer wide, so it's 600 m, 6 kilometers by 1 kilometer wide as opposed to 4 kilometers by 500 m wide. We don't know how deep it goes, but we know that the old timers have mined down here to about 800 m. So this is a pretty good project. It's also up on top of the mountain. It's above the aquifer, so it has a chance to be an open pit. So we're gonna document this year and next year for you on that, and that could be a very significant game changer, if the grade from what we see in the main corridors over here holds up over here. we're talking an order of magnitude, to increase the strike length. So, this is a very big project, with a lot of upside potential. we raised $143 million US dollars in January. So we have $100 million US dollars dedicated to drilling, for 2026 in the first quarter of 2027. So while the mine construction is ongoing and fully funded, you'll be seeing the documentation of these other ounces coming into play, which we think is going to be pretty important as this project scales up and we show you that this can go from a 200,000 to 400,000 ounce and potentially significantly more ounces than that as we get further into it. So, the overall footprint of this project, you know, we were, we talked about 4.4 kilometers and 16 kilometers strike length. We have 83 kilometers of known mineralization here. This was a mine, this mine started in 1859, and there's over 100 mines in this historic belt. It's the reason that British Columbia is part of the Canadian Confederation. there was 4000 people here in the latter half of the 1800s from 1860 to 1920. It was the largest city north of north of Chicago. And it's the reason that a lot of BC was opened up. it paid for a lot of things. This was the big, gold rush after the California 49ers and before the Klondike, which came in the early 1900s, 1903. so this has been an active camp and we have all that history to work with. There's over 150 active placer deposits still in the area, with people still out alluvial mining every summer. And if you look at the footprint of this project, we have about 1500 square kilometers of permitted mineral licenses in the area. we compared that to the Val d'Or camp, which is about a 1400 square kilometer area. it's a camp we know well, obviously, since we found and built Canadian Malartic, which is Canada's largest gold mine right now, or second largest depending on who's telling the story. but that's the size and scale that we're dealing with here, and it's the reason that we're so excited about it is this, this is a project that could be a top, top 10 project in the gold space worldwide, when we're done with it. So, you know, on that note, I'm gonna stop there. We'll talk about, Tintick if anybody wants to catch up with us later, and that'll give us about a minute and a half for some questions. Great. So, as Sean said, we do have a little bit of time for a question if the audience, Sean, Looking at Proserpine, you got this, potentially meaningful organic upside at at Proserpine. Can you give us a sense of the, the timing and potential magnitude that drilling might unveil at, at that target? good question, Don, because I think that's the most immediate. It's a new discovery. so it's 6 kilometers long. It's, you know, it's up on top of the hill as you can see here. it's above the aquifer and has a chance to be an open pit. So, if we look at it from a Canadian melartic style deposit, this is something that could be comparable. Melartic was about 4.5 kilometers long, and about 800 m wide. And it was a deposit when we, when we did the 13.8 million ounce resource there, it was 1.03 g. So, we think that, you know, depending on where we push the cutoff to, obviously cutoffs with this gold price are, are probably much lower than they were when we were at 750 when we were building that one. so this could be a significant deposit, speculating on the number of ounces if, if the grade was to hold up, you know, we've definitely got a shot at 5 million ounces in the shallow, and the overall pit, you know, could be significantly more than that. it's first pass. We have the historic data from the old mines and, and the, and the underground access, but that's kind of where we're at right now. And there's 4 drills out there right now. and, and hopefully we'll, as we add, we're adding a rig every 2 weeks right now. we'll be at 6 to 10 rigs out there by the, by the end of Q3. OK, excellent. Well, thank you very much, Sean. That's, certainly checks a lot of boxes. You've got the expiration upside, but there's also, You know, the theme of flight to jurisdictional quality and, fully permitted, fully funded. Yeah, thanks everybody, and if there's any extra questions we're around, today and tomorrow. Thank you for listening. Thank you. Yeah, you're welcome. OK. Up next, we've got another company that has a, trajectory of growth, I-80 Gold Corp. I'd like to welcome to the stage, Richard Young, president and CEO. Now,