March 17, 2018
Wisconsin Resources Protection Council
Box 263
Tomahawk, WI 54487
Mr. Sean Roosen, CEO and Chair of Board
Osisko Gold Royalties Ltd.
1100 Avenue des Canadiens-de-Montreal
Suite 300
Montreal, Quebec H3B 2S2
Canada
Dear Mr. Roosen:
We are once again writing in regard to Osisko’s 15% ownership of Aquila Resources’ Back Forty metallic sulfide deposit in Michigan’s Upper Peninsula. You have undoubtedly seen Aquila’s March 9 permitting update announcing that the U.S. Environmental Protection Agency has provided comments to the Michigan Department of Environmental Quality (MDEQ) regarding the company’s wetlands permit.