In June 2009 the Company signed a strategic alliance with Osisko Mining Corporation Ltd., whereas Osisko acquired approximately 33% of Bowmore Exploration through a private placement and named two of their top executives Mr. Robert Wares and Sean Roosen to the board of directors of Bowmore. The parties believe that their strategic alliance should create shareholder value for both Osisko and Bowmore, as Osisko intends to involve Bowmore in exploration projects that would not be suitable for Osisko given its focus on the Canadian Malartic gold deposit, and thereby reduce Osisko's exploration risk, and Bowmore will benefit from deal flow generated by Osisko.

As Osisko's strategic partner in future grass-roots exploration projects, Bowmore will be able to move quickly to evaluate opportunities of merit. This will allow Osisko to participate in grassroots exploration as a significant shareholder. Our goal is to enhance value for our shareholders by providing a solid pathway for the Company's future growth".