Osprey Gold Development Ltd. announced assay results from its diamond drill program at the Mitchell Lake Zone of the Company's Goldenville Property located in Guysborough County, Nova Scotia. A total of 646 metres ("m") in five holes were drilled across approximately 300 m of strike length; all five holes successfully intersected near surface zones of disseminated style gold mineralization within host rock argillites and slates. This style of mineralization is currently the focus at St. Barbara Mining Ltd.'s Moose River Consolidated mine. Highlights of these latest results include: All five holes returned near surface disseminated gold values from this expanding mineralized zone located 3.5 kilometers ("kms") from the Goldenville Resource; Results demonstrate lower-grade disseminated gold mineralization is present along at least 500m of strike length; Results step out 350 m to the west from known mineralization at Mitchell Lake; the deposit remains open in all directions and at depth; Hole MIT19-5 intersected 13.0 m of 1.05 grams per ton gold ("g/t Au") within a broader intercept of 32.0 m of 0.49 g/t Au; Hole MIT19-4 intersected 14.0 m of 0.49 g/t Au; Results from an additional five holes drilled at Goldenville are pending. All five holes reported here were drilled stepping out along strike to the west along a structural trend defined through mapping and geophysics. Mineralization occurs in sulphide-rich argillite sequences, as well as within quartz veins hosted within these sequences. This structure remains open in all directions, and at depth. Geophysical surveying results indicate over 1 kilometer of potential strike length, of which less than half has been drill tested to date.