Early Warning News Release

Osisko Gold Royalties Ltd.

MONTRÉAL, QUÉBEC--(Marketwired - June 7, 2017) - Osisko Gold Royalties Ltd (TSX:OR)(NYSE:OR) ("Osisko") announces that it has subscribed for and received from Falco Resources Ltd. (TSX VENTURE:FPC) ("Falco") 3,101,000 units ("Units") at a price of $1.29 per Unit. Each Unit is comprised of one common share ("Common Share") in the share capital of Falco and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant") of Falco. Each Warrant entitles the holder to acquire one Common Share at a purchase price of $1.70 for a period of 18 months from the closing of the previously announced bought deal financing (the "Bought Deal"). The Bought Deal was announced on May 17, 2017.