Osisko Gold Royalties Ltd ("Osisko Gold Royalties") (TSX:OR) is pleased to
announce closing of its transaction with Agnico Eagle Mines Limited ("Agnico")
and Yamana Gold Inc. ("Yamana") pursuant to a plan of arrangement (the
"Arrangement"). 


"Osisko Gold Royalties is pleased to be making its debut today," reported Sean
Roosen, Chairman and Chief Executive Officer. "We are pleased that Osisko
shareholders have the unique opportunity to continue to participate in the
Canadian Malartic success story as shareholders of Osisko Gold Royalties, a
royalty company founded on the strong platform of that asset." 


The Arrangement 

Under the Arrangement, each outstanding common share of Osisko Mining
Corporation ("Osisko") was exchanged for C$2.09 in cash, 0.07264 of a common
share of Agnico Eagle, 0.26471 of a common share of Yamana, and one common share
(one tenth of a common share on a consolidated basis) of Osisko Gold Royalties.


For Further Information 

Securityholders are encouraged to read Osisko Mining Corporation's management
information circular dated May 1, 2014 for full details of the Arrangement which
was mailed to Osisko Mining Corporation's Securityholders and is also available
on Osisko Mining Corporation's website at www.osisko.com or on SEDAR at
www.sedar.com. 


Shareholders who have questions or who may need assistance with the completion
of letters of transmittal are advised to contact our Information Agent, Laurel
Hill Advisory Group at: 




North American Toll Free:          1-877-452-7184                     
Banks, Brokers or collect calls:   416-304-2011                       
Email:                             assistance@laurelhill.com          



About Osisko Gold 

Osisko Gold is the holder of a net smelter return royalty on the Canadian
Malartic Gold Mine in Malartic, Quebec as well as royalty and other interests in
a number of exploration properties.


Forward-looking statements 

Certain statements contained in this press release may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical fact, that address events or developments that Osisko
Gold Royalties expects to occur, are forward looking statements. Forward looking
statements are statements that are not historical facts and are generally, but
not always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential", "scheduled" and
similar expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur including, without limitation, the realization of all
expected benefits of this Arrangement, and the view on (i) the royalty interest
in and continued performance of the Canadian Malartic assets, (ii) the quality
and the potential of Osisko Gold Royalties' exploration and mining assets, (iii)
the value of consideration offered to Osisko shareholders, and (iv) the
potential of Osisko Gold Royalties. Although Osisko Gold Royalties believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results may differ materially from those in forward looking
statements. Factors that could cause the actual results to differ materially
from those in forward-looking statements include, gold prices, the Company's
royalty interest, access to skilled consultants, results of mining operation,
exploration and development activities, with production and development stage
mining operations, uninsured risks, regulatory changes, defects in title,
availability of personnel, materials and equipment, timeliness of government or
court approvals, actual performance of facilities, equipment and processes
relative to specifications and expectations, unanticipated environmental impacts
on operations market prices, continued availability of capital and financing and
general economic, market or business conditions. These factors are discussed in
greater detail in the management information circular of Osisko Mining
Corporation and its most recent Annual Information Form, which are filed on
SEDAR and also provide additional general assumptions in connection with these
statements. Osisko Gold Royalties cautions that the foregoing list of important
factors is not exhaustive. 

Investors and others who base themselves on the forward looking statements
contained herein should carefully consider the above factors as well as the
uncertainties they represent and the risk they entail. Osisko Gold Royalties
believes that the expectations reflected in those forward-looking statements are
reasonable, but no assurance can be given that these expectations will prove to
be correct and such forward-looking statements included in this press release
should not be unduly relied upon. These statements speak only as of the date of
this press release. Osisko Gold Royalties undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, other than as required by applicable
law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
John Burzynski
Vice-President Corporate Development
(416) 363-8653
jburzynski@osiskogr.com


Sylvie Prud'homme
Director of Investor Relations
(514) 940-0670
sprudhomme@osiskogr.com

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