Osino Provides Update on DFS for Twin Hills Gold Project, Namibia - Seite 2

The DFS has generated cost estimates with an accuracy range of approximately ± 15%. In July 2023 our team intends to commence a five-month front-end engineering design (“FEED”) package. A small Owner’s Project team will coordinate the activities of the main engineering, procurement and construction management (“EPCM”) contractor and several other consultancies, with Owner’s team responsibilities including direction of project implementation as well as detailed planning and early implementation of Operational Readiness activities.

In parallel to finalising the DFS, Osino has also progressed financing negotiations with a credible mining project financier and is working closely with their team to advance due diligence and transaction structuring towards relevant approvals in H2 2023. Osino will provide a further update on the financing process upon such approvals being received. Project implementation will commence once permitting has been completed, full project financing is in place and a formal investment decision (“FID”) has been made by Osino’s Board of Directors.

London Stock Exchange Assessment

From time to time the Board of Osino, in conjunction with its advisors reviews its current capital markets profile, including access to institutional investors and financing alternatives. To that end, and to broaden its shareholder base and capital markets access, the company is currently assessing a dual listing of its Shares on the standard listing segment of the Official List of the FCA and admission to trading on the main market of the London Stock Exchange.

Osino's portfolio of assets are located in Namibia, and an LSE listing, from its geographical, time-zone friendly and historic investment perspective are expected to increase investor awareness of the Company’s African projects. The Board will update the market as and when a formal decision is made to pursue a London listing which should enhance the Company's access to the pools of equity capital available in the UK and in the EMEA region.

Qualified Person’s Statement

David Underwood, BSc. (Hons) is Vice President Exploration of Osino Resources Corp. and has reviewed and approved the scientific and technical information 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 NI 43-101.