Exchange Bulletin

Osisko Gold Royalties Ltd. (OR) To Trade On Toronto Stock Exchange


June 2, 2014

Osisko Gold Royalties Ltd. - An application has been conditionally approved by Toronto Stock Exchange ("TSX") for the listing of common shares (the "New Osisko Shares") of Osisko Gold Royalties Ltd (the "Company" or "New Osisko'"), upon completion of a proposed plan of arrangement (the "Arrangement") involving Osisko Mining Corporation ("Osisko"), Agnico Eagle Mines Limited ("Agnico") and Yamana Gold Inc. ("Yamana"), as described in the Management Information Circular of Osisko dated May 1, 2014 (the "Circular"). Upon completion of the Arrangement, New Osisko will own certain assets of Osisko, including a material interest in the Canadian Malartic Properties, as defined in the Circular.

Upon the Arrangement becoming effective, Osisko shareholders will receive, for each Osisko common share (an "Osisko Share") held: i) $2.09 in cash; ii) 0.07264 of a common share of Agnico; iii) 0.26471 of a common share of Yamana; and iv) one New Osisko Share. The New Osisko Shares will, immediately following the exchange of Osisko Shares, be consolidated on the basis one New Osisko Share for every 10 New Osisko Shares, resulting in Osisko shareholders receiving 0.1 of a New Osisko Share.

As soon as practicable, TSX will post the New Osisko Shares for trading on an "if, as and when issued" basis under the trading information set out below. Before the New Osisko Shares are posted for trading on such basis,TSX will issue a trader note confirming the expected effective date for the Arrangement. If and when the Arrangement becomes effective, the New Osisko Shares will be listed on TSX.

Stock Symbol: "OR" CUSIP: 68827L 10 1 Trading Currency: CDN$



Market Maker: W.D. Latimer Co. Limited
Other Markets: None
Settlement: Subject to the Arrangement becoming effective: (i) all trades in "OR" on and before the fourth trading day preceding the effective date will be for special settlement on the effective date and will appear on the Settlement Report from CDS Clearing and Depository Services Inc. ("CDS"); and (ii) all trades in "OR" for each of the three trading days preceding the effective date will be for special settlement three business days after the trade date and will appear on the Settlement Report from CDS. If the Arrangement does not become effective, all of the "if, as and when issued" trades will be cancelled. No securities will be delivered and no money will be owed by purchasers to sellers.

Parties who are entitled to receive New Osisko Shares under the Arrangement may sell such securities in the "if, as and when issued" market without being subject to restrictions on short sales. Parties who are not entitled to receive New Osisko Shares under the Arrangement must comply with the short sale rule in all respects for any sales they make in the "OR" "if, as and when issued" market.

If and when the Arrangement closes, there will be no further trading in "OR" on an "if, as and when issued" basis and the New Osisko Shares issued pursuant to the Arrangement will trade on a regular settlement basis.
Additional information on the New Osisko Shares may be found in the Circular, which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Circular.
Head Office Address: 1100 des Canadiens-de-Montréal Avenue
Suite 300, P.O. Box 211
Montréal, Québec H3B 2S2
Email Address: elevesque@osisko.com
Website: www.osisko.com
Head Office Telephone Number: (514) 735-7131
Fax Number: (514) 933-3290
Investor Relations: John F. Burzynski
Tel.: (416) 363-8653
Email: burzynski@osisko.com
Incorporation: The Company was incorporated under the Business Corporations Act (Québec) on April 29, 2014.
Fiscal Year End: December 31
Chief Financial Officer & Corporate Secretary: Elif Lévesque
Nature of Business: The Company is engaged in the acquisition and management of precious metals royalties and similar interests.
Transfer Agent & Registrar: CST Trust Company, at its principal offices in Montréal and Toronto.
Dividends: The Company does not currently anticipate paying any dividends on the New Osisko Shares.