Osprey Gold Development Ltd. announced assay results from the final five holes of its 13 hole drill program at the Company's Goldenville Property, located in Guysborough County, Nova Scotia. Four holes returned elevated gold values, successfully identifying significant near-surface, disseminated style gold mineralization; Hole G19-23 encountered multiple zones of near-surface gold mineralization including 3.0 metres ("m") of 0.97 grams per tonne gold ("g/t Au"), in a step out along strike approximately 400 m from earlier drilling; All five holes step-out from the existing mineral resource area The deposit remains open in multiple directions and at depth; Results continue to demonstrate the presence of disseminated gold mineralization across the Goldenville Property ("Goldenville"); The 2019 drill program demonstrates that abundant, near-surface gold remains in Nova Scotia to be discovered; and The Company is planning an ambitious exploration program for 2020, details will be released as they become available. Holes G19-19 and G19-20 were drilled on the north limb of the Goldenville Anticline, stepping out to the west from the existing resource. They were collared targeting a magnetic high thought by Company personnel to be the signature of a historically mapped flexure zone, structurally significant to gold mineralization. Both holes intersected multiple zones of mineralization, starting from 26.0 m depth in G19-20. This area is open along strike to the west, and down dip to the northwest. Hole G19-22 was drilled as a step-out on the north limb, approximately 60m from the easternmost hole drilled during Osprey's 2017 program around the historic Bluenose shaft; this hole intersected multiple zones of mineralization, and leaves the deposit open to the east. This hole was terminated early after encountering historic workings. Hole G19-23 was drilled on the south limb, as a 400 m step-out from G19-16 and G19-17, which encountered sulphide-rich zones of mineralization within the host rock argillites and greywackes. This hole encountered multiple zones of disseminated and vein-hosted gold mineralization, showing substantial room for resource expansion on this limb. The deposit remains open to the east on both limbs of the main anticline structure.