Osisko Gold Announces Amendment to US$450 Million Appian Credit Facility and Satisfaction of Key Technical Conditions Precedent Following Successful Completion of the Lowhee Infill Drill Program at the Cariboo Gold Project

TORONTO, Aug. 20, 2026 (GLOBE NEWSWIRE) — Osisko Gold Group Inc. (NYSE: OGG, TSXV: OGG) (“ Osisko Gold ” or the “ Company “) is pleased to announce that it has entered into an amended and restated credit agreement (the “ Amendment “) with funds advised by Appian Capital Advisory Limited (“ Appian “) in respect of its US$450 million senior secured project loan credit facility dated July 21, 2025 (the “ Credit Facility “). The Credit Facility was entered into by the Company’s wholly owned subsidiary, Barkerville Gold Mines Ltd. (“ Barkerville “), to finance the development and construction of the Company’s 100%-owned, fully permitted Cariboo Gold Project (the “ Project “).

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The Amendment provides the Company with more favourable covenants, reduces the overall cost of capital, and extends the Company’s option to settle accrued interest in kind (“ PIK “) for an additional 12 months. Importantly, following Appian’s review of the results of work completed to date, Appian has confirmed satisfaction of certain key technical conditions precedent to the US$350 million second draw under the Credit Facility, including those related to the Lowhee Zone infill drilling and ore sorting programs, and these conditions have been removed from the Credit Facility pursuant to the Amendment. The second draw remains subject to certain remaining conditions precedent associated with ongoing Project-related construction readiness activities and other customary requirements.

Sean Roosen, Chairman and CEO, commented: “The amended terms of this credit facility provide us with meaningful financial flexibility as we advance the Cariboo Gold Project toward construction readiness. Appian’s confirmation that the key technical conditions precedent have been satisfied, including those related to the completed Lowhee infill drilling and ore sorting programs, represents an important validation of the quality of this deposit and the significant de-risking work our team has completed. With the improved economics under the Amendment and US$350 million of additional capital now substantially de-risked, we are well positioned to continue advancing toward our next major development milestones. We thank Appian for its continued partnership and look forward to working together through the next phase of development at Cariboo.”

The Amendment provides for a reduction in applicable interest rate margins under the Credit Facility as follows: (i) for the initial draw, 3-month Secured Overnight Financing Rate (“ SOFR “) plus a margin of 9.00% per annum (reduced from SOFR plus 9.50% per annum), together with the elimination of the 0.10% per annum SOFR adjustment; and (ii) for the second draw and thereafter, SOFR plus a margin of 7.25% per annum (reduced from SOFR plus 7.50% per annum).