 Osisko Mining Corporation, based in Montreal, Canada, signed an agreement in August 2011 with La Rioja’s state mining corporation “Energia y Minerales Sociedad del Estado”(ESME) to develop the Famatina gold project.This project would cover an area of 40 km2 in the Famatina Mountain Range.Osisko agreed to pay US$500 000 to ESME within 15 days of the signing and invest $US 10 million within the first year of exploration.