Osisko Gold Group (TSXV: OGG, NYSE: OGG) and the District of Wells, B.C. have signed a support and benefits agreement to support social and economic initiatives within the district relating to Osisko’s Cariboo gold project.
Under the three-year agreement, the company may contribute C$3 million in total toward community initiatives identified by the district. Currently, the only agreed-upon initiative is C$500,000 for the WILDways High School. This funding will support the school’s infrastructure needs. The contribution is voluntary and at Osisko’s discretion.
“Through this agreement, we remain committed to ensuring that the positive benefits of the [Cariboo] are felt locally and meaningfully,” said Greg Perrins, the vice-president of sustainable development at Osisko.
Ed Coleman, the mayor of the District of Wells, said the agreement aligns with the district’s goals. “As the project moves toward construction, this agreement provides us with critical resources and structure to address community needs and ensure that residents benefit from the opportunities ahead.”
The Cariboo project is 100%-owned by Osisko and is the company’s flagship site in central B.C., viewed as foundational to the company’s growth strategy. A 2025 feasibility study projected production of 1.89 million ounces of gold over a 10-year mine life.
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