Early Warning News Release

Osisko Gold Royalties Ltd.

MONTRÉAL, QUÉBEC--(Marketwired - May 30, 2017) - Osisko Gold Royalties Ltd (TSX:OR)(NYSE:OR) ("Osisko") announces that it has subscribed for and received from Minera Alamos Inc. (TSX VENTURE:MAI) ("Minera Alamos") 22,045,000 common shares at a price of $0.15 per share (the "Shares"), in connection with the closing by Minera Alamos of a private placement transaction (the "Private Placement").