MONTREAL, QUEBEC--(Marketwired - Mar 29, 2017) - Osisko Gold Royalties Ltd (TSX:OR)(NYSE:OR) ("Osisko") announces that it has
entered into a binding purchase agreement with 2176423 Ontario Ltd. ("2176423"), a company controlled by Mr. Eric S. Sprott,
whereby Osisko has agreed to acquire ownership from 2176423 of an aggregate of 55,281,643 common shares in the capital of
Barkerville Gold Mines Ltd. (TSX VENTURE:BGM) ("Barkerville") at a purchase price of $0.509 per share (the "Barkerville Shares")
for an aggregate price of $28,138,356.29 (the "Transaction"). Barkerville is located at 1111 Melville Street, 11th
Floor, Vancouver, British Columbia, V6E 3V6.
Immediately prior to the closing of the Transaction, Osisko held 61,090,863 common shares of Barkerville, representing
approximately 18.5% of Barkerville's issued and outstanding common shares. Immediately following the closing of the Transaction,
Osisko owns, beneficial ownership of, or control and direction over 116,372,506 common shares of Barkerville, representing
approximately 35.2% of Barkerville's issued and outstanding common shares.
Osisko acquired the Barkerville Shares described in this press release for investment purposes and in accordance with
applicable securities laws. Osisko may, from time to time and at any time, acquire additional shares and/or other equity, debt or
other securities or instruments (collectively, "Securities") of Barkerville in the open market or otherwise, and reserves the
right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage
in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of
Barkerville and other relevant factors.
A copy of the early warning report to be filed by Osisko in connection with the Transaction described above will be available
on SEDAR under Barkerville's profile. This news release is issued under the early warning provisions of the Canadian securities
legislation.
2176423 Ontario Ltd.
Mr. Sprott currently holds indirectly, through 2176423, 55,281,643 common shares of Barkerville and 3,260,000 common share
purchase warrants, representing approximately 16.7% of the outstanding common shares of Barkerville on a non-diluted basis and
17.5% on a partially diluted basis assuming exercise of the warrants. Immediately following the closing of the Transaction, Mr.
Sprott will hold indirectly 3,260,000 warrants, representing approximately 1% of the outstanding common shares on a partially
diluted basis. Mr. Sprott sold the Barkerville Shares for investment purposes. Mr. Sprott has a long-term view of the investment
and may acquire additional Barkerville securities either on the open market or through private acquisitions or sell Barkerville
securities either on the open market or through private dispositions in the future depending on market conditions, reformulation
of plans and/or other relevant factors. A copy of Mr. Sprott's early warning report will appear on Barkerville's profile on SEDAR
and may also be obtained by calling (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario,
M5J 2J2.
About Osisko Gold Royalties Ltd
Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. It
holds over 50 royalties and streams, including a 5% NSR royalty on the Canadian Malartic Mine (Canada), a 2.0-3.5% NSR royalty on
the Éléonore Mine (Canada) and a silver stream on the Gibraltar Mine (Canada). It maintains a strong financial position and has
distributed $30.8 million in dividends to its shareholders during the past nine consecutive quarters.
Osisko's head office is located at 1100 avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.