Osisko Mining Inc. (TSX:OSK) (“Osisko“) provides the update today, that further to its announcement of November 30, 2021, Osisko and Northern Star Resources Limited (“Northern Star“) have agreed to terminate joint venture negotiations with respect to Osisko’s Windfall Project.

Osisko has determined that development of the Windfall Project on an independent basis would be optimal for the shareholders of Osisko. While joint venture negotiations have concluded, Osisko maintains a mutually beneficial relationship with Northern Star as an important debt holder through its $154 million in a convertible senior unsecured debenture due December 1, 2025 (the “Debentures“) with interest at a rate of 4.75% per annum.

The exclusivity period for negotiation of the joint venture and associated special rights of conversion into a joint venture interest under certain circumstances expire on March 1, 2022.