GoldMinerPulse Report on Osisko Mining Corporation: (NI) 43-101 Metal Valuation Report

Osisko Mining Corporation (OSK)

Company Web Site: www.osisko.com
This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2010-05-22. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.
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Note: The December 24, 2009 update of Osisko Resources was in error. Based on a review of the March 2010 NI 43-101 report available at Sedar it appears that GoldMinerPulse double counted some ore tonnes in both the reserve category and the resource category. This GoldMinerPulse error has been corrected with the April 12, 2010 update. Unfortunately, this error had a major impact on accessing Osisko's valuation. All gold valuation charts will be up to date with the April 12, 2010 update.
GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02
Project/Deposit CC MVpSh PP% MI% I% Gold
    Canadian Malartic CA $27.46 75% 17% 9% 8.43 M oz
    Hammon Reef CA $21.72 0 0 100% 6.67 M oz
    South Barnat CA $6.86 0 100% 0 2.11 M oz
    Duparquet CA $3.41 0 18% 82% 1.05 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal Gold
    Metal Totals 18.26 M oz
    Metal Prices in US$ (from 2010-09-02) $1,251.30 per oz
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $59.45
    Percentage of Total Metal Value 100.00%
    PP% | MI% | I% 35% | 20% | 45%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)    US$59.45
    Average Ore Value per Tonne    US$39.15
    Metal Value Leverage (MVL)    4.56
    Market Capitalization as % of Metal Value    21.9%
    Recent Stock Price    C$13.73   (TSX/TSXV close on 2010-09-02.)
Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count    384.32 M    ( Osisko Mining Corporation Share Structure web page viewed May 2010 plus the additional shares added in the acquisition of Brett Resources Osisko's offer to Acquire Brett Resources Succeeds )
    PP% | MI% | I%    35% | 20% | 45%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade    0.973 g/t
    Market Capitalization
    per oz of Gold In Ground    $274.34   US$  |   289.00   C$
    Gold Eq Oz Estimate    18.26 M oz   ( 18.26 M oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent    $274.34   US$  |   289.00   C$

See terms for more about GoldMinerPulse metrics.
GoldMinerPulse Coverage Status:
GoldMinerPulse coverage of Osisko Mining Corporation is complete pending a final internal review.

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold
Canadian Malartic	CA	$27.46	75%	17%	9%	8.43 M oz
Hammon Reef	CA	$21.72	0	0	100%	6.67 M oz
South Barnat	CA	$6.86	0	100%	0	2.11 M oz
Duparquet	CA	$3.41	0	18%	82%	1.05 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal	Gold
Metal Totals	18.26 M oz
Metal Prices in US$ (from 2010-09-02)	$1,251.30 per oz
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$59.45
Percentage of Total Metal Value	100.00%
PP% \| MI% \| I%	35% \| 20% \| 45%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
Metal Value per Share (MVpSh)	US$59.45
Average Ore Value per Tonne	US$39.15
Metal Value Leverage (MVL)	4.56
Market Capitalization as % of Metal Value	21.9%
Recent Stock Price	C$13.73 (TSX/TSXV close on 2010-09-02.) Conversion rate used: 1 Cnd$ = 0.949244 US$ )
Fully Diluted Share Count	384.32 M ( Osisko Mining Corporation Share Structure web page viewed May 2010 plus the additional shares added in the acquisition of Brett Resources Osisko's offer to Acquire Brett Resources Succeeds )
PP% \| MI% \| I%	35% \| 20% \| 45%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade	0.973 g/t
Market Capitalization per oz of Gold In Ground	$274.34 US$ \| 289.00 C$
Gold Eq Oz Estimate	18.26 M oz ( 18.26 M oz are in ground)
Market Capitalization per oz of Gold Equilavent	$274.34 US$ \| 289.00 C$

See terms for more about GoldMinerPulse metrics.

Canadian Malartic - ^top^

(NI) 43-101 Report:

Title: Updated resource and reserve estimates for the Canadian Malartic Project Malartic, Quebec on behalf of Osisko Mining Corporation
Date: 2010-03-22 (278 pages)

Updates:

Project Location: Quebec, Canada / Mining Region: Abitibi

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Proven + Probable

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $20.53 6.31 M oz 1.070 g/t 183.30 M t
Estimate notes: See Updated resource and reserve estimates for the Canadian Malartic Project – March 2010 on p. 46 of 278 in the NI 43-101 dated March 2010.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$20.53	6.31 M oz	1.070 g/t	183.30 M t
Estimate notes: See Updated resource and reserve estimates for the Canadian Malartic Project – March 2010 on p. 46 of 278 in the NI 43-101 dated March 2010.

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $4.58 1.41 M oz 0.810 g/t 54.00 M t
Estimate notes: See Proven notes.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$4.58	1.41 M oz	0.810 g/t	54.00 M t
Estimate notes: See Proven notes.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $2.35 721.46 K oz 0.600 g/t 37.40 M t
Estimate notes: See notes for Proven + Probable above.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.35	721.46 K oz	0.600 g/t	37.40 M t
Estimate notes: See notes for Proven + Probable above.

Duparquet - ^top^

(NI) 43-101 Report:

Title: Technical Report on BEATTIE-DONCHESTER GOLD MINE PROPERTY DUPARQUET TOWNSHIP, QUEBEC. NI 43-101 Report On Behalf of: Clifton Star Resources Inc.
Date: 2009-10-22 (182 pages)

Updates: Osisko and Clifton Star Complete Joint Venture Agreement on Duparquet Project", December 11, 2009.

NOTE: This report assumes Osisko will earn its maximum 50% interest in the project.

Project Location: Quebec, Canada

Map View: View Duparquet project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Measured + Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $0.49 151.01 K oz 3.220 g/t 2.92 M t
Estimate notes: Estimate from Beattie mine: See p. 7 of 182 of the NI 43-101 report dated October 2009.
Resource quantities adjusted for ownership percentage of 50.0%.
1.0 g/t Au/t cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.49	151.01 K oz	3.220 g/t	2.92 M t
Estimate notes: Estimate from Beattie mine: See p. 7 of 182 of the NI 43-101 report dated October 2009. Resource quantities adjusted for ownership percentage of 50.0%. 1.0 g/t Au/t cut-off.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $1.12 345.18 K oz 3.060 g/t 7.02 M t
Estimate notes: Estimate from Beattie mine: See p. 8 of 182 of the NI 43-101 report dated October 2009.
Resource quantities adjusted for ownership percentage of 50.0%.
1.0 g/t Au cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.12	345.18 K oz	3.060 g/t	7.02 M t
Estimate notes: Estimate from Beattie mine: See p. 8 of 182 of the NI 43-101 report dated October 2009. Resource quantities adjusted for ownership percentage of 50.0%. 1.0 g/t Au cut-off.

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $0.11 34.86 K oz 3.720 g/t 582.94 K t
Estimate notes: Estimate from Donchester mine: See p. 8 of 182 of the NI 43-101 report dated October 2009.
Resource quantities adjusted for ownership percentage of 50.0%.
1.0 g/t Au cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.11	34.86 K oz	3.720 g/t	582.94 K t
Estimate notes: Estimate from Donchester mine: See p. 8 of 182 of the NI 43-101 report dated October 2009. Resource quantities adjusted for ownership percentage of 50.0%. 1.0 g/t Au cut-off.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $1.68 515.94 K oz 2.780 g/t 11.54 M t
Estimate notes: Estimate from Donchester mine: See p. 8 of 182 of the NI 43-101 report dated October 2009.
Resource quantities adjusted for ownership percentage of 50.0%.
1.0 g/t Au cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.68	515.94 K oz	2.780 g/t	11.54 M t
Estimate notes: Estimate from Donchester mine: See p. 8 of 182 of the NI 43-101 report dated October 2009. Resource quantities adjusted for ownership percentage of 50.0%. 1.0 g/t Au cut-off.

Hammon Reef - ^top^

(NI) 43-101 Report:

Title: PRELIMINARY ASSESSMENT OF THE HAMMOND REEF GOLD PROJECT, ATIKOKAN, ONTARIO, CANADA
Date: 2009-11-27 (176 pages)

Updates: See Project Location: Ontario, Canada
Map View: View the Hammond Reef Gold deposit on a Google Map.
Most Optimistic Resource Estimates (MORE):
•Inferred
Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $21.72 6.67 M oz 0.800 g/t 259.40 M t
Estimate notes: See TABLE 1-4 INFERRED MINERAL RESOURCES – JULY 2009 Brett Resources Inc. – Hammond Reef Project, Ontario on p. 21 of 176 in the NI 43-101 dated November 2009.
Cut-off 0.30 Au g/t

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$21.72	6.67 M oz	0.800 g/t	259.40 M t
Estimate notes: See TABLE 1-4 INFERRED MINERAL RESOURCES – JULY 2009 Brett Resources Inc. – Hammond Reef Project, Ontario on p. 21 of 176 in the NI 43-101 dated November 2009. Cut-off 0.30 Au g/t

South Barnat - ^top^

(NI) 43-101 Report:

Title: Updated resource and reserve estimates for the Canadian Malartic Project Malartic, Quebec on behalf of Osisko Mining Corporation
Date: 2010-03-22 (278 pages)

Updates:

Project Location: Quebec, Canada / Mining Region: Abitibi

Most Optimistic Resource Estimates (MORE):

•Measured + Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $6.64 2.04 M oz 1.710 g/t 37.10 M t
Estimate notes: See Table 6.5 South Barnat Deposit in-pit Mineral Resources (June 2009) on p. 48 of 278 in the NI 43-101 dated March 2010.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$6.64	2.04 M oz	1.710 g/t	37.10 M t
Estimate notes: See Table 6.5 South Barnat Deposit in-pit Mineral Resources (June 2009) on p. 48 of 278 in the NI 43-101 dated March 2010.

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $0.22 66.17 K oz 1.470 g/t 1.40 M t
Estimate notes: See Proven notes.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.22	66.17 K oz	1.470 g/t	1.40 M t
Estimate notes: See Proven notes.