Osino Resources Releases Assays for First Part of In-Fill Drilling at Twin Hills Central Discovery, Namibia

• Assay results received for eight in-fill holes at Twin Hills Central confirm continuation of mineralization over a strike length of 800m.
• Six of the eight in-fill holes intersected significant mineralization including one hole containing 49m @ 1.04g/t incl. 16m @ 1.58g/t and 16m @ 1.23g/t.
• Two holes from the Phase 1 drill program were extended, increasing the total width of gold mineralization in both holes to 241m and 148m respectively.
• The on-going drill program is aimed at defining higher grade shoots and strike extensions at Twin Hills Central as well as initial drill traverses at Twin Hills West, Barking Dog and Clouds.
• The next batch of drill results is expected before middle of December 2019.

VANCOUVER, British Columbia, Nov. 14, 2019 (GLOBE NEWSWIRE) — Osino Resources Corp. (TSXV: OSI) (FSE: RSR1) (“Osino” or “the Company”), is pleased to announce the receipt of assays for eight in-fill holes drilled at Twin Hills Central, confirming mineralization over a strike length of 800m. Six of the eight holes intersected significant mineralization with OKR007 containing 49m @ 1.04g/t including 16m @ 1.58g/t and 16m @ 1.23g/t. Two holes from the Phase 1 drill program were extended as they both ended in mineralization. OKD001 was extended from 219m to 263m. The total width of gold mineralization in OKD001 is now 148m and open to depth. Hole OKD002 was extended from 210m to 281m. The total width of gold mineralization in OKD002 is now 241m.

Further drilling is aimed at defining higher grade shoots and strike extensions at Twin Hills Central as well as initial drill traverses at Twin Hills West, Barking Dog and Clouds.

Dave Underwood, Osino’s VP Exploration commented: “These results provide further confirmation of the significant width and strike extent of the gold mineralization at Twin Hills Central. Since the completion of the Phase 1 drill program, our geological team has carried out detailed core logging and structural interpretation which has resulted in an improved understanding of the geometry and controls of the Twin Hills gold system. The gold mineralization is associated with parasitic folds and limb faults within a meta-greywacke unit, which has been tightly folded into a large syncline – a similar structural setting to B2 Gold’s Otjikoto Gold Mine further northeast along the Damara Belt. The latest assays received (OKR007) intersected a higher-grade zone on the southern limb of the syncline which appears to plunge gently to the east. Further RC and DD drilling planned for this area should confirm the orientation of this zone. The Phase 2 drill program at Twin Hills is now well underway and on schedule to be completed by year end.”

Assay Results for Twin Hills Central Infill Drilling

Assays have now been received for eight holes from the Twin Hills Central in-fill and step-out drill program (refer to Figure 1), highlighting the position of the mineralized zone on the southern side of the magnetic anomaly at Twin Hills Central. The mineralized zone has been faulted and displaced by a series of north east striking structures as indicated on Figure 1. Holes OKR001, OKR003, OKR004, OKR006, OKR007 and OKD008 all intersected mineralization which was partially faulted out in holes OKR001 and OKR004.

The gold mineralization at Twin Hills Central is associated with shears and parasitic folds in a meta-greywacke unit, which has been tightly folded into a syncline. OKR007 intersected the higher-grade zone which was previously intercepted in holes OKD003 and OKD007 during the Phase 1 drill program. This zone appears to plunge gently to the east and is probably related to the dominant fold axis measured on the core, which plunges in a similar orientation.

A list of significant intercepts received to-date is presented in Table 1 below.

Assay Results for Hole Extensions Drilled at OKD001 and OKD002

Downhole extensions were drilled for two Phase 1 diamond holes (OKD001 and OKD002) which both ended in mineralization. Hole OKD001 was extended from 218.8 to 263.4m with the hole ending in mineralization again and a bottom-of-hole meter sample of 1.64g/t. The total width of gold mineralization in OKD001 is now 148m grading 0.65g/t incl. 10m @ 1.27g/t, 25m @ 1.03g/t and 12m @1.00g/t.

Hole OKD002 was extended from 209.9 to 281.4m and the overall width of gold mineralization now stands at 241m at 0.65g/t, incl. 14m @ 1.14g/t, 7m @ 1.42g/t, 12m @ 1.11g/t and 5m @ 1.51 g/t. Hole OKD002 was terminated in the footwall cordierite schist.

Phase 2 Drill Program Status

There are currently two diamond drill rigs and two RC rigs on site completing the balance of the Phase 2 program including step-out holes at Twin Hill Central and fence lines over Twin Hills West, Barking Dog and Clouds (refer to news release dated October 10, 2019).

A summary of the significant Phase 2 drill intersections received to-date is presented in Table 1 below.

Table 1: Significant Drill Intercepts (Interim) from Phase 2 Drilling at Twin Hills

* Reported previously in New Release dated September 26, 2019
^# Restated and additional intercepts after extension drilling

Notes: All reported intercepts are apparent widths. True widths are unknown at this stage. Included intercepts are at 0.4g/t cut-off, minimum 2m wide and no more that 2m internal dilution. Total intersections are unconstrained.

Geology and Structure

The Twin Hills Project lies within the Kuiseb Formation, a sequence of turbiditic marine sediments several kilometers thick, which was folded during the Damaran orogen. The gold mineralization at Twin Hills Central is hosted by a meta-greywacke unit which has been tightly folded into an overturned syncline, as indicated in the schematic cross sections below. The meta-greywacke unit is underlain by biotite schist and cordierite schist.

The gold mineralization is focused within the upward facing, southern limb of the syncline, where there has been shearing along fold limbs (refer to Section B-B’). The footwall to the mineralization is the barren cordierite schist which was intersected in OKD002 and OKD008 on Section A-A’. The footwall has not been intersected on Sections B-B’ and C-C’ to date and future drilling will complete these sections into the footwall.

Twin Hills Central remains open along strike and dip.

Qualified Person

David Underwood, BSc. (Hons) is Vice President Exploration of Osino Resources Corp. and has reviewed and approved the scientific and technical information related to geology and exploration in this news release, and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No.400323/11) and a Qualified Person for the purposes of National Instrument 43-101.

Quality Assurance

All Osino sample assay results have been independently monitored through a quality assurance / quality control (“QA/QC“) program including the insertion of blind standards, blanks and duplicate samples. QA/QC samples make up 10% of all samples submitted. Logging and sampling is completed at Osino’s secure facility located in Omaruru near the Twin Hills Project. Drill core is sawn in half on site and half drill-core samples are securely transported to the Actlabs sample prep facility in Windhoek, Namibia. The core is dried, crushed to 95% -10mesh, split to 250g and pulverised to 95% -150mesh. Sample pulps are sent to Actlabs in Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5 g/t. In addition, pulps undergo 4-Acid digestion and multi-element analysis by ICP-AES or ICP-MS. RC drill samples are prepared at Actlabs sample prep facility in Windhoek, Namibia. The RC chips are dried, crushed to 95% -10mesh, split to 250g and pulverised to 95% -150mesh. Sample pulps are sent to Actlabs in Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5 g/t.

About Osino Resources

Osino is a Canadian gold exploration company, focused on the acquisition and development of gold projects in Namibia. Our 23 exclusive prospecting licenses are located within Namibia’s prospective Damara mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is targeting gold mineralization that fits the broad orogenic gold model. We are actively advancing a range of gold discoveries, prospects and targets across our 6,577km² ground position by utilizing a portfolio approach geared towards discovery.

Osino’s focus in 2019 is on further advancing the Twin Hills and Goldkuppe discoveries within the developing Karibib Gold District, testing our Otjikoto East and Otjiwarongo targets and generating new ones on our remaining licenses. Our core projects are favorably located north and north-west of Namibia’s capital city Windhoek. By virtue of their location, the projects benefit significantly from Namibia’s well-established infrastructure with paved highways, railway, power and water in close proximity. Namibia is mining-friendly and lauded as one of the continent’s most politically and socially stable jurisdictions. Osino continues to evaluate new ground with a view to expanding its Namibian portfolio.

Further details are available on the Company’s website at https://osinoresources.com/

CONTACT INFORMATION
Osino Resources Corp.
Heye Daun: CEO
Tel: +27 (21) 418 2525
[email protected]

Julia Becker: Investor Relations Manager
Tel: +1 (604) 785 0850
[email protected]

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