Mr. Heye Daun reports
OSINO ANNOUNCES FILING OF DEFINITIVE FEASIBILITY STUDY TECHNICAL REPORT FOR TWIN HILLS GOLD PROJECT, NAMIBIA
Further to the announcement of its definitive feasibility study on June 12, 2023, Osino Resources Corp. has now filed the technical report entitled "Definitive Feasibility Study of the Twin Hills Gold Project, Namibia, NI 43-101 Technical Report," with an effective date of June 12, 2023, signed July 5, 2023.
The DFS is for the Company's flagship Twin Hills Gold Project ("Twin Hills" or the "Project"), which is located in central Namibia and is being advanced rapidly through accelerated drilling and fast-tracked development studies.
The DFS was prepared by Lycopodium Minerals Canada Ltd. ("Lycopodium") in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects ("NI 43-101") and contemplates a low-risk, technically simple, open-pit gold mine utilizing contract mining and a conventional processing plant utilizing three-stage crushing, milling, gravity separation and carbon-in-leach ("CIL") at a planned processing capacity of 5 mtpa.
For additional information and the most current technical information, please refer to the Technical Report available on the Osino website (www.osinoresources.com) and filed on SEDAR under the Company's profile at www.sedar.com.
Qualified Person
Mr. David Underwood, BSc. (Hons) is Vice-President Exploration of Osino and has reviewed and approved the scientific and technical information in this news release. He is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr.Sci.Nat. Nr 400323/11) and is a Qualified Person for the purposes of NI 43-101.
Issuance of DSU's
The Company also announces that is has approved the grant of 35,716 deferred share units ("DSUs") having an aggregate value of $40,000 to independent directors of the Company pursuant to the Company's Omnibus Long-Term Incentive Plan, which was approved by the Company's shareholders at its last shareholder meeting.
About Osino Resources
Osino is a Canadian gold exploration and development company focused on the fast-tracked development of our wholly owned Twin Hills Gold Project ("Twin Hills") in central Namibia. Since its grassroots discovery by Osino in August 2019 the Company has completed more than 225,000m of drilling and has completed a suite of specialist technical studies culminating in the recently published Twin Hills Definitive Feasibility Study ("DFS") dated effective June 12, 2023. The DFS describes a technically simple and economically robust open-pit gold operation with a 2.15moz gold reserve, 13-year mine life and average annual gold production of over 169koz per annum.
Osino has a commanding ground position of approximately 8,000km2 located within Namibia's prospective Damara sedimentary mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. The Company is actively exploring a range of gold prospects and targets along the belt by utilizing a portfolio approach geared towards discovery, targeting gold mineralization that fits the broad orogenic gold model.
Our core projects are favourably 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 our Namibian portfolio.
We seek Safe Harbor.
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