Osino Resources Corp. (TSX-V:OSI) (NSX:OSN) (FSE:RSR1) (OTCQX:OSIIF) is pleased to announce that it has completed the initial tranche of its previously announced non-brokered private placement of common shares of the Company to Dundee Precious Metals Inc. The Company issued 4,424,779 Common Shares to DPM at a price of C$1.13 per Common Share for aggregate gross proceeds to the Company of C$5,000,000.27. The initial tranche of the Offering was completed in connection with the arrangement agreement dated December 17, 2023 between Osino and DPM, whereby DPM will acquire all of the issued and outstanding common shares of Osino pursuant to a court-approved plan of arrangement. After giving effect to the initial tranche of the Offering, DPM holds an aggregate of 8,235,379 Common Shares, representing approximately 4.9% of the Common Shares issued and outstanding on the date hereof, on a non-diluted basis.

The net proceeds of the Offering will be used for project activities, including engineering, drilling and other corporate purposes in accordance with Osino’s budget, as agreed with DPM pursuant to the Arrangement Agreement.

The Common Shares were offered by way of private placement pursuant to applicable exemptions from prospectus requirements in British Columbia and Ontario. The securities issued under the Offering are subject to a four month hold period under applicable Canadian securities laws.

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 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 dated effective June 12, 2023. The DFS describes a technically simple and economically robust open-pit gold operation with a 13-year mine life and average annual gold production of over 169,000oz per annum.

Osino has a commanding ground position of over 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.