Maiden Resource Estimate At Ondundu Gold Project

VANCOUVER - Osino Resources Corp. reported a maiden mineral resource estimate (MRE) for Osino’s Ondundu Gold Project comprising 26 million tonnes (Mt) at an average grade of 1.13 g/t Au for a total of 0.9 million ounces (Moz) of gold in the Inferred mineral resource category (0.5 g/t cut-off). Ondundu is owned by Osino and is located approximately 130 km northwest of Osino’s flagship Twin Hills Project in Namibia. Osino completed the acquisition of Ondundu from B2Gold Corp.

Heye Daun, President & CEO said, “We are very pleased with the completion of this maiden resource estimate at Ondundu, which adds almost a million ounces of gold at 1.13g/t and significantly increases the size potential of our combined Namibian gold portfolio. Ondundu is the oldest known gold deposit in Namibia, with a history of small-scale gold production and historical technical work by a range of operators, including most recently B2Gold. These operators recognized Ondundu’s significant potential due to its extremely coarse and nuggety nature of gold mineralization. Given the nature of the deposit, we believe that there is potential to improve the grade and size of the deposit with additional drilling and using larger sample volumes. This will be tested with a limited RC drill program which is about to commence. Our vision of delivering a feasible mining and process route involving gravity pre-concentration at Ondundu with subsequent processing at Twin Hills is now one step closer to fruition.”

The mineral resource was estimated from approximately 46,500m of diamond core (“DD”) and reverse circulation (“RC”) drilling, which was completed by previous operators, but mainly B2Gold between 2015 and 2020 but was never converted into a code-compliant MRE. Drill collars were spaced on various grids from 25m to 100m on surface and inclined at 60° at an azimuth of 70°.