Osisko Metals Incorporated (TSX: OM; OTCQX: OMZNF; FRANKFURT: 0B51) announced on September 15, 2026 its intention to create a new mineral exploration company called Osisko Critical Minerals Corporation ("OCMC"), which will hold a portfolio of New Brunswick mineral exploration properties currently non-core to Osisko Metals. John Burzynski is named as incoming Chief Executive Officer of OCMC. The proposed transaction is designed to allow capital markets to value the New Brunswick assets independently from Osisko Metals' flagship Gaspé Copper Project, a structure investors in Canadian critical minerals exploration may find significant.

Key Points

  • Osisko Metals Incorporated (TSX: OM; OTCQX: OMZNF; FRANKFURT: 0B51) announced plans to spin out New Brunswick properties into a new entity named Osisko Critical Minerals Corporation (OCMC)
  • OCMC will receive an aggregate of 2,972 mineral claim units (approximately 645 square kilometres) in New Brunswick, prospective for copper, silver, and gold
  • Osisko Metals intends to retain a minority interest in OCMC following completion of any financing; transaction remains subject to multiple conditions including regulatory approvals
  • Investors may be watching for further details on OCMC's financing structure, board composition, and potential stock exchange listing, none of which have been confirmed

New Brunswick Properties to Transfer into Standalone OCMC Exploration Vehicle

The Properties comprising the OCMC portfolio total 2,972 mineral claim units, covering approximately 645 square kilometres in New Brunswick, and include both claims staked by Osisko Metals and claims the company holds options to acquire under three separate option agreements dated January 9, 2026, April 20, 2026, and September 9, 2026. Those option agreements will be assigned to OCMC in exchange for OCMC shares. The Properties include several large-scale targets prospective for copper, silver, and gold, underlain by geology the company describes as analogous to its Gaspé Copper Project in Québec.

NB Copper Project Hosts Untested Bulk-Tonnage Porphyry-Skarn Target in Northern New Brunswick

The flagship NB Copper Project, located in northern New Brunswick and accessible via paved and gravel roads on Crown land, hosts an interpreted alteration footprint of approximately 5 kilometres by 2 kilometres — described in the release as larger in scale than the Gaspé Copper alteration aureole. Historical drilling intersected copper-bearing skarn zones but was largely confined to shallow depths, with only two holes reaching 500 to 600 metres. The release notes 21 additional porphyry intrusions on the property that have never been evaluated for bulk-tonnage copper potential.

Bathurst Mining Camp Holdings Also Included in OCMC Portfolio

OCMC will also receive Osisko Metals' Bathurst Mining Camp holdings, which include the Key Anacon and Gilmour South mineral resources and the Mount Fronsac occurrence. The Key Anacon NI 43-101-compliant resource estimate, completed in 2019, includes indicated resources of 1.96 Mt averaging 5.77% zinc and inferred resources of 3.85 Mt averaging 5.34% zinc, among other metals. The Mount Fronsac deposit carries a historical, non-NI 43-101-compliant resource of 1.26 million tonnes; Osisko Metals cautions investors that this estimate should not be relied upon without further verification work.

Gaspé Copper Flagship Remains Core Focus as Transaction Conditions Are Assessed

The proposed spin-out will allow Osisko Metals to concentrate resources on advancing the Gaspé Copper Project near Murdochville, Québec — described as the largest undeveloped copper resource in eastern North America, with pit-constrained Measured and Indicated Mineral Resources of 1.83 Bt averaging 0.32% CuEq and Inferred Mineral Resources of 239 Mt averaging 0.46% CuEq. The release explicitly states there is no certainty the OCMC transaction will be completed as proposed, and the Osisko Metals board retains the right not to proceed should market conditions change.