Osisko Gold announces transaction with Hot Chili on Costa Fuego Project

Osisko Gold Royalties announces that it has entered into a binding agreement to acquire a 1.0% copper net smelter return royalty and a 3.0% gold NSR royalty from Hot Chili Limited covering Hot Chili’s Costa Fuego Copper-Gold Project in Chile, for total cash consideration of $15M. Sandeep Singh, President and CEO of Osisko commented: “Costa Fuego has the potential to be a long-life, lower-cost copper mine in Chile, with significant by-product credits, importantly situated at low elevation and in close proximity to key infrastructure. We are impressed with what the Hot Chili team has been able to accomplish to date, most notably on the exploration and permitting fronts, and we look forward to future development milestones at Costa Fuego.”