Osino Successfully Lists on the Namibian Stock Exchange
August 29 2023 - 3:55PM
Osino Resources Corp. (TSXV:OSI)(NSX:OSN)(FSE:RSR1) (OTCQX:OSIIF)
(
"Osino” or “the Company”) is pleased to announce
that the Company has successfully dual-listed on the Namibian Stock
Exchange
(“NSX”) under the symbol
“
OSN”. There will be no change to Osino’s listing
on the TSX Venture Exchange (
TSXV) which will
remain the primary listing for Osino’s common shares.
Heye Daun, Osino’s Co-Founder and
CEO, and Namibian-born mining engineer,
commented: “The Twin Hills Gold Project is
expected to provide significant economic and social benefits for
Namibians. Listing on the NSX is another opportunity for Osino to
engage with Namibian stakeholders and provides access to the
Namibian capital markets for project development at Twin
Hills.”
The announcement of the successful listing falls
during a regional roadshow introducing investors to Osino’s
exploration and development activities in Namibia. Osino commenced
operations in Namibia in 2016 and listed on the TSX Venture
Exchange in 2018. The Company’s flagship Twin Hills Gold Project
(the “Project”) is comprised of 11 exclusive
prospecting licenses (“EPLs”) granted by the government of Namibia,
which are held over a combined area of 153,206 ha in and around the
regional towns and settlements of Usakos, Karibib, Omaruru, and
Wilhelmstal in the Erongo Region of Namibia.
Osino was founded by Namibians and the company
is led by many of the individuals who were instrumental in the
development of the Otjikoto mine in Namibia prior to its
acquisition in 2011 by B2Gold Corp. Osino’s Twin Hills Gold
Project, which is anticipated to become the next gold mine in
Namibia, is expected to be larger than the Otjikoto mine. The
Project has been substantially de-risked with the recent release of
a Definitive Feasibility Study in July 2023.
Cirrus Capital (Namibia) advised on the NSX
listing and anticipates increased exposure and awareness for Osino
in Namibian capital markets. Rowland Brown, Co-Founder
at Cirrus Capital commented: “This is the first real
opportunity for Namibian investors to purchase NSX-listed shares in
one of Namibia’s largest mines at a relatively early, but highly
de-risked stage. This rare opportunity should be converted into a
precedent for future mine development in the country, linking
Namibians to ownership of local extractive industry
opportunities.”
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 ("DFS") 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 169koz per
annum.
Osino has a commanding ground position of
approximately 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.
Further details are available on the Company's
website at https://osinoresources.com/ and under the Company's
profile on SEDAR+ at www.sedarplus.ca.
Further details are available on the Company's
website at https://osinoresources.com/
On Behalf of The Board of DirectorsHeye Daun,
President & CEO
CONTACT INFORMATIONOsino
Resources Corp.Yaron Conforti, Corporate
Developmentyconforti@osinoresources.com+1-604-687-2038
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
Cautionary Statement Regarding
Forward-Looking Information
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the use of proceeds from the
Company's future plans or prospects of the Company, including
prospects for economic recoverability of mineral resources.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are necessarily based upon a number of assumptions that,
while considered reasonable by management, are inherently subject
to business, market and economic risks, uncertainties and
contingencies that may cause actual results, performance or
achievements to be materially different from those expressed or
implied by forward-looking statements. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. Other factors
which could materially affect such forward-looking information are
described in the risk factors in the Company's most recent annual
management's discussion and analysis which is available on the
Company's profile on SEDAR+ at www.sedarplus.ca. The Company does
not undertake to update any forward- looking information, except in
accordance with applicable securities laws.
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