Osprey Gold Development Ltd. announced it has initiated an additional high-resolution unmanned aerial vehicle ("UAV") magnetic geophysical survey at the Goldenville Gold Project ("Goldenville") in Nova Scotia. This additional survey will cover the western portion of the project and encompass areas of known resources, as well as extend beyond the resource envelope to the east. Goldenville is located within Nova Scotia's prospective Meguma Terrane which hosts St. Barbara's recently acquired Moose River Consolidated Project (formerly Atlantic Gold). The detailed UAV survey provides important vectoring information to aid in the prioritization and delineation of drill targets for potential gold discoveries outside the area of known mineralization, and in areas obscured by glacial overburden and limited prior exploration. The identification of geophysical magnetic highs provide important indicators for drill target delineation. Results from the first survey show several high quality targets; a magnetic high on the south limb that may correlate with zones of disseminated mineralization in argillite first drilled in 2017, another magnetic high on to the north east of the existing resource along a known important structural trend, and a magnetic high that aids in defining the orientation and structures in the Mitchell Lake Zone, 3.5 kilometers to the east of the existing resource where Osprey drilled three holes in 2017 that all showed disseminated mineralization in argillites. Targets generated in part from this additional survey will be incorporated into upcoming exploration and drill programs this fall, which will be announced as they commence. The eastern area of the claim block has received less exploration, but is a highly prospective zone. The Company drilled several holes in the Bluenose area on the north limb in 2017, and all holes intersected significant gold mineralization. The south limb remains very underexplored, with only limited drilling to date. This survey will help map potential extensions to mineralization on the north limb, increase structural understanding, and identify areas of potential mineralization. The Company is currently finalizing details of an upcoming drill campaign at Goldenville, utilizing the recent high resolution geophysics, and all past exploration data. Details of this program will be announced when it commences.