TAKEOVER: Osisko reveals friendly bid to acquire Brett Resources

MONTREAL - Osisko Mining has announced a friendly takeover of Vancouver-based Brett Resources in a deal worth ...

MONTREAL - Osisko Mining has announced a friendly takeover of Vancouver-based Brett Resources in a deal worth $308 million. Osisko will issue 0.34 of a common share for each Brett share held by Brett investors. The boards of both companies have unanimously approved the transaction.

Brett brings to the merger its Hammond Reef gold project near Atikokan, ON. A 43-101-compliant resource estimate contains an inferred resource of 6.7 million oz in 259.4 million tonnes at 0.8 g/t Au (0.3 g/t cut-off). The preliminary study of the project done in November 2009 is available at www.SEDAR.com.

News of the deal comes as Osisko is pushing to reach the Canadian Malartic open pit mine and mill start up in Q2 2011. Full production of 688,000 oz/yr should be reached in 2012.

More information is available at www.Osisko.com.

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