Osisko Appoints Investor Relations Firm

Business Wire, Nov 28, 2005

MONTREAL -- Osisko Exploration Ltd. (TSX VENTURE:OSK)(DEUTSCHE BOERSE:EWX)is pleased to announce that the Company has agreed to engage First Canadian Capital Corp. ("FCC") for investor relation services. The Toronto-based firm is a full and comprehensive provider of corporate finance and investor relations services, specializing in small-cap companies. Effective December 1, 2005, FCC will be responsible for assisting management in strengthening the Company's profile and visibility amongst the Canadian financial and investment communities, including portfolio managers, analysts, retail investors, letter writers and media contacts. Terms of the agreement include service fees of $6,000 per month and granting of 200,000 stock options, exercisable over a two year period at $0.70 per share. FCC has been engaged for an initial twelve month term, subject to a mutual review after the first three months. The terms and conditions of this agreement are subject to regulatory approval.

In other developments, the Company wishes to confirm that the previously announced brokered private placement with Pacific International Securities Inc. (the "Agent") has been over-subscribed by 382,500 Units. The Company has now agreed to issue a total of 3,482,500 Units for gross proceeds of $2,263,625. Each Unit shall consist of one common share and a half transferable common share purchase warrant. Each whole warrant will be exercisable into one additional common share of the Company at $0.80 for a period of two years from the closing date. The Agent will receive a cash commission of 8% of the gross proceeds raised in this offering and a corporate finance fee of $15,000. The Agent will also receive compensation options (warrants) equal in number to 10% of the number of Units sold. Each such warrant will entitle the Agent to purchase one common share at an exercise price of $0.80 for a period of two years from closing. This private placement is subject to TSX Venture Exchange acceptance for filing and required regulatory approvals.

Osisko is currently raising a total of approximately $ 4 million in order to finance the Phase Three and Four definition drill programs (total 27,000 meters) on its wholly-owned Canadian Malartic gold property.

Osisko Exploration Ltd. (TSX VENTURE:OSK)