Osisko Wins Bill Dennis Prospector of the Year Award

MONTREAL, QUEBEC (FRANKFURT: EWX) is very pleased to announce that the Prospectors and Developers Association of Canada has selected Osisko to receive the 2007 Bill Dennis Prospector of the Year Award. This award, which honours the memory of a PDAC past president, is presented annually at the association's annual convention to a person or team who has/have made an important contribution to the prospecting and/or exploration industry. Osisko is being recognized for its discovery and ambitious expansion of the gold resource on the Canadian Malartic property and for the company's determination to move ahead to production in 2010.

The presentation of this award will be made at the PDAC's Annual Awards Banquet, which will be held during the PDAC Convention in Toronto on March 3, 2008. The Award will be accepted by Sean Roosen, President & CEO, Robert Wares, Executive Vice President and COO, and John Burzynski, Vice President of Corporate Development.

Osisko President & CEO, Sean Roosen commented: "It is a great honour for the company to have been selected as the winner of the Bill Dennis Prospector of the Year Award. On behalf of the entire team I would like to thank the PDAC for this recognition, as well as the residents and the town council of Malartic for their ongoing support of our project. Canadian Malartic proves once again that Canada still holds significant discovery potential. It is our hope that our success at Canadian Malartic will stimulate further exploration in the region, and that continued work will lead to the discovery and development of new mines."

Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $180 million on hand and is carrying out an aggressive definition drilling and exploration campaign on the Canadian Malartic deposit and surrounding property.

Contacts: Osisko Exploration Ltd. John Burzynski Vice-President Corporate Development 514-735-7131 www.osisko.com Osisko Exploration Ltd. Daniel Boase Investor Relations 416-742-5600 Toll Free: 1-866-580-8891