Osino Resources : Makes New Gold Discovery at Twin Hills West in Close Proximity to Current Mineral Resource, Twin Hills Gold

Osino Resources Corp.

Suite 810 - 789 West Pender St.

Vancouver, BC

V6C 1H2

OSINO MAKES NEW GOLD DISCOVERY AT TWIN HILLS WEST

IN CLOSE PROXIMITY TO CURRENT MINERAL RESOURCE,

TWIN HILLS GOLD PROJECT, NAMIBIA

Highlights

• Diamond and reverse circulation ("RC") drilling at Twin Hills West ("THW") delineates significant new gold discovery 3km west of existing mineral resource at Bulge and Twin Hills Central ("THC").
• Gold mineralization confirmed in three new zones over >1,000m strike length.
• 54 diamond and reverse circulation ("RC") holes for 10,472m completed at THW since March 2021.
• Some of the best intercepts received to-date include:
• • OKR385 - 35m @ 1.22g/t (124-159m) incl. 12m @ 2.23g/t
  • OKR387 - 15m @ 1.73g/t (94-109m) incl. 5m @ 3.87g/t
  • OKD311 - 44m @ 1.07g/t (100-144m) incl. 32m @ 1.15g/t
  • OKD175 - 32m @ 1.06g/t (116-148m) incl. 12m @ 1.93g/t
  • OKD287 - 32m @ 1.04g/t (100-134m) incl. 6m @ 2.60g/t and 4m @ 3.28g/t
  • OKR251 - 51m @ 0.74g/t (41-92m) incl. 21m @ 1.01g/t
• A follow-up RC drill program initiated in September 2021 is defining the mineralization at 50 x 50m drill spacing for resource definition as soon as possible.
• The program consists of approximately 9,000m and will be completed in December 2021.
• Mineralization at THW is hosted in sheared and altered meta-greywackes, similar to the main mineralized bodies at Bulge and THC.

Vancouver, British Columbia, December 1, 2021 - Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF) ("Osino" or "the Company") is pleased to announce the discovery of new shallow zones of gold mineralization at Twin Hills West ("THW"), just 3km from the main mineral resource at Bulge and Twin Hills Central ("THC"). After initially drilling twelve diamond and RC holes in the area in 2019, Osino followed this up with 54 additional holes drilled since March 2021. The program comprised a first-pass exploration diamond drill campaign and follow-up RC drilling which is ongoing.

The program identified three new coherent zones of mineralization. The mineralization is currently being defined at a 50 x 50m drill spacing with the aim of adding inferred ounces to the next Twin Hills mineral resource estimate, scheduled to be released at the end of Q1 2022.

David Underwood, Osino's VP Exploration commented: "Gold mineralization at THW has taken quite a while to reveal itself since the initial bedrock sampling in 2019. The latest round of diamond drilling has led to the discovery of mineralization in three steeply dipping parallel zones within meta-greywacke.The style of mineralization and structural controls appear similar to those at the rest of Twin Hills and Clouds East in particular. This latest discovery has the potential to add significant value to the Twin Hills project, as it lies only 3km from the main mineral resource and is located along trend to the west, within the planned Twin Hills mining license boundary. Additional RC drill rigs have been added to the fleet to ensure that the areas of best mineralization are drilled out at 50 x 50m before the year end and the THW ounces added to the next resource update."

Figure 1 below depicts the 15km Twin Hills gold system at district scale, indicating the location of the regional Karibib fault (discovered through cover by Osino in 2018 using geophysics), a new subsurface geology map

derived from geological logging of the 2020 and 2021 drilling, and the location of drill defined, mineralized meta-greywacke horizons.

Figure 1: District scale geology map of Osino's Twin Hills gold system and location of mineral resources/discoveries

Osino controls a consolidated district-scale land package which has so far yielded four significant gold discoveries. Scout drilling at Terminal One, 1,500m to the west of THW, has also intersected narrow zones of mineralization indicating the potential in that direction - see Figure 1. The exploration and resource drilling is ongoing across the district, with the aim of growing the existing mineral resources and making new discoveries.

Previous Exploration at THW

THW was first identified in the calcrete sampling program of 2018 as a low-level anomaly along a secondary structure south of the Karibib Fault, coincident with a magnetic anomaly. In 2019, a total of 111 vertical RAB holes in three fence lines were drilled over THW to sample bedrock beneath the calcrete cover, which is generally between 15-40m thick in this area.

These bedrock samples produced several anomalous assays with a best result of 2.68g/t over 1m. In 2019 a total of 12 diamond holes were drilled over the central part of THW with the best hole returning 16m @ 1.38g/t (OKD037). At that time the drilling was stopped at THW to focus on the large-scale discoveries made at Bulge and THC.

A short program of 7 holes was completed at THW early in 2021 as part of the brownfields exploration initiative which returned another significant hole from the central portion (OKD175 - 32m @ 1.06 g/t incl. 12m @ 1.93g/t). Following an updated structural study and remodeling of the magnetics, it became clear that THW was divided into three portions, cut by NNW faults which were later infiltrated by mafic dykes - see Figure 2.

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A diamond drill program was initiated in March 2021 to test the three lobes of the THW deposit named Eland, Oryx and Kudu - see Figure 2. A total of 28 holes for 5,862m were completed in August and assays indicated two mineralized zones at Oryx and one at Kudu all striking ENE and plunging to the NE.

Significant results include OKD175 - 32m @ 1.06g/t (116-148m) incl. 12m @ 1.93g/t, OKD287 - 32m @ 1.04g/t (100-134m) incl. 6m @ 2.60g/t and 4m @ 3.28g/t and OKD311 - 44m @ 1.07g/t (100-144m) incl. 32m @ 1.15g/t. The Eland lobe has not produced any anomalous assays to date. A table of intercepts for all THW drill assays received to date is appended as Table 1.

Geology of THW

THW consists of three lobes of greywacke which are separated by northwest striking faults resulting in vertical displacement between the lobes - see Figure 2. The faults were later infiltrated by narrow mafic dykes which are visible in the magnetic data.

The Oryx and Kudu lobes are both syncline - anticline pairs, overturned to the north i.e. in the opposite direction to Twin Hills general orientation which is overturned to the south - see sections in Figures 3 and 4.

Figure 2: THW drill intercepts, GM Values1,2 and planned RD drill collars. Section lines A-A' and B-B' in Figures 3 and 4

The mineralization is located within high strain zones which have undergone intense flexural slip and local shearing.

The most extensive zone of mineralization intersected thus far is within the smaller southern syncline at Oryx above the southern contact between greywacke and cordierite schist.

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This zone is approximately 500m long and up to 44m drilled width. Gold is associated with arsenopyrite mineralization in veinlets and dissemination. The sulphide veinlets generally have an alteration selvage of secondary biotite.

Figure 3: Section A-A' through Oryx showing syncline - anticline pairs overturned to the north and strong mineralization in southern syncline

Figure 4: Section B-B' through Oryx with development of strong shoot of mineralization in northern syncline

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Mineralization at Oryx is present in two steeply dipping lobes which subcrop against the calcrete cover. Initial structural readings from drill core indicate that the shears and veins hosting the mineralization strike northeast and plunge in the same direction, somewhat oblique to the east - west bedding. The mineralized shoots are focused around parasitic fold noses accompanied by quartz-sulphide veinlets with secondary biotite selvages.

Resource Definition Drilling

An RC drill program was initiated in September 2021 to drill out the mineralized areas on a 50 x 50m grid with the aim of producing an inferred resource for THW, which can be included in the next resource update scheduled to be released at the end of Q1 2022. The RC program comprises approximately 9,000m of drilling and will be completed before the year-end.

Early results for the RC drilling include OKR385 - 35m @ 1.22g/t (124-159m) incl. 12m @ 2.23g/t, OKR387 - 15m @ 1.73g/t (94-109m) incl. 5m @ 3.87g/t and OKR251 - 51m @ 0.74g/t (41-92m) incl. 21m @ 1.01g/t.

Table 1: Intercepts for all Drilling at Twin Hills West to Date

	Hole			From			To			Width			Grade			X				Y			GM			GM Class			Location
																											(m x g/t)
											DIAMOND DRILL HOLES
	OKD011	130		151	21			0.83		597030	7583217	17.43	10-25				THW
	incl.							11			1.16																	THW
	and	199		200	1			4.13																	THW
	OKD013		No significant intercepts				596988	7583311	0.00	<10				THW
	OKD014	83		90		7			0.79		597069	7583123	5.53	<10				THW
	OKD017	117		131	14			0.76		597025	7583218	10.64	10-25				THW
	incl.							9			0.91																	THW
	and	154		169	15			0.49																	THW
	OKD019	23		27		4			0.75		596986	7583309									THW
	and	45		56		11			1.08									11.88	10-25				THW
	OKD021		No significant intercepts				596949	7583404	0.00	<10				THW
	OKD026	101		106	5			0.47		597252		THW	2.35	<10				THW
	OKD028		No significant intercepts				597214	7583411	0.00	<10				THW
	OKD037	169		185	16			1.38		597087	7583036	22.08	10-25				THW
	and	269		278	9			0.52																	THW
	OKD040	45		50		5			1.30		596962	7583083	6.50	<10				THW
	OKD043	55		59		4			1.96		596927	7583174	7.84	<10				THW
	OKD045		No significant intercepts				596895	7583266	0.00	<10				THW
	OKD171		No significant intercepts				597370	7583456	0.00	<10				THW
	OKD175	116		148	32			1.06		596932	7582958	37.92	25-50				THW
	incl.							12			1.93																	THW
	OKD179	205		206	18			0.57		597203	7583084	10.26	10-25				THW
	incl.							10			0.78																	THW
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