Osino Releases Sustainability Report

Twin Hills Gold Project Aspiring to Become a Model for Responsible Mining in Namibia

VANCOUVER, British Columbia, Nov. 17, 2023 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV:OSI) (NSX:OSN) (FSE:RSR1) (OTCQX:OSIIF) (“Osino” or “the Company”) is pleased to announce the release of its Sustainability Report for 2022, which summarises the company’s social, environmental and economic performance and outlines plans for the ongoing integration of sustainability into the design of the Twin Hills Gold Mine.

The Twin Hills Gold Project, located near Karibib in Namibia, is on track to create approximately 1,000 permanent new jobs in the region and has, since inception, attracted C$56 million (N$634 million) in foreign direct investment for the Namibian economy, as detailed in Osino’s 2022 Sustainability Report.

Report Highlights:

Foreign direct investment in Namibia

• During 2022, Osino’s Namibian procurement spend was C$9.5 million (N$124 million)
• Additionally, Osino paid C$2 million (N$27 million) in wages and C$221k (N$3 million) to the Namibian government (social security, PAYE, workman’s compensation and training levy)
• Since 2017, Osino has invested a total of C$56 million (N$634 million) in Namibia
  

Prioritising local employment

• 92% of Osino employees are Namibian nationals and 38% are from local communities around the Twin Hills Gold Project
• Equal pay for equal positions applies throughout the company
• 22% female employees in a male-dominated industry
• Approximately 1,000 jobs likely to be created with local and national employment prioritized, subject to skills availability

Strengthening local communities and relationships

• 79% local procurement spend in Namibia, of which a quarter was within 75km of Twin Hills
• Ongoing support of strategic socio-economic development projects through the Twin Hills Trust
• Well-attended public engagement meetings held in Windhoek, Karibib and Omaruru in November 2021. Meetings with local authorities are ongoing
  

Rigorous compliance approach

• Completed environmental and social impact assessment (ESIA) for the Twin Hills Gold Project to establish baseline and identify potential impacts
• Completed environmental and social management plan (ESMP) for the Twin Hills Gold Project to guide management of current and future impacts
• Completed the Pre-feasibility Study (PFS) in 2022 and Definitive Feasibility Study (DFS) in July 2023
• Received Environmental Clearance Certificate in November 2022

A focus on environmental performance