Vancouver, British Columbia - Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF) ('Osino' or 'the Company') is pleased to announce that the Namibian Ministry of Environment, Forestry and Tourism ('MEFT') has issued an Environmental Clearance Certificate ('ECC') for the Twin Hills Gold Project ('Twin Hills' or 'the Project') which is valid for three years and renewable on a three yearly cycle. Twin Hills' most recent technical study, a pre-feasibility ('PFS') study released in September 2022, outlines a 13- year open-pit mine life with an average annual gold production rate of 169koz per annum at all-in sustaining costs of US$930/oz in the 10 years of operation. This is based on 2.15 Moz in reserves.

Heye Daun, Osino's co-founder, President and CEO commented: ''We are very pleased to have received environmental authorization for full-scale mining for our Twin Hills gold project. We recognize that there are still a few outstanding approvals and consents to be achieved (such as the grave relocation, conclusion of the site-specific secondary permits, and the additional conditions to the mining license explained below). Nevertheless, this milestone takes us one step closer to being fully permitted. This again confirms Namibia as one of the world's top mining jurisdictions, where it is possible to permit and advance a large-scale open pit gold mining project, according to global best practices, from inception to approval within less than three years. We commend our Namibian regulators and service providers for this remarkable achievement.'

Osino Environmental Clearance Certificate Approved Following extensive stakeholder engagement and environmental baseline studies in 2021 and early 2022, the Namibian Ministry of Mines and Energy ('MME') and Ministry of Environment, Forestry, and Tourism ('MEFT') thoroughly reviewed the Project's Environmental and Social Impact Assessment ('ESIA') and Environmental - 2 - Management Plan ('EMP') and found no material flaws in the scope and assessment of the project. Included in the assessment and the management plan are provisions that any archeological finds must be reported to the National Heritage Council ('NHC') for review, guidance and management. Following the discovery of some historical grave sites within the Twin Hills Project area, Osino conducted a field review and documentation of the burial sites as an addendum to the archeological baseline study. Following this, an additional reconnaissance fieldwork program was carried out in the area to confirm that no other graves exist. All documents have been submitted to NHC for review and it is anticipated that the graves will have to be relocated, with consent from the descendants.

Namibian Environmental and Mining Permitting Process

Overview As per the Environmental Management Act, 2007 ('EMA'), the proposed mining project triggers listed activities under Namibia's EMA. Such activities require an environmental clearance certificate. In 2020 Osino appointed an independent environmental consulting firm (Environmental Compliance Consultancy (Pty) Ltd) as the Environmental Assessment Practitioner (EAP) in accordance with EMA 2007 Regulation 3 to conduct an environmental and social impact assessment and apply for the required environmental clearance certificate. The MME is the competent authority for the proposed Project, and accordingly, the application was submitted to MME to carry out their designated functions. Once an ECC is issued, the certificate becomes effective from the date endorsed and remains effective for a period not exceeding three years as per the EMA 2007. ECCs are eligible for renewal every three years. The issuance of the ECC is one of three outstanding conditions for the conclusions of a full mining license for the Twin Hills gold project, to be issued by Namibia's MME. The process has been further described in a news release dated 31 October 2022. As stated earlier, once the conditions relating to grave relocations have been met, The first of the three main conditions to the issuance of the full and unconditional mining license will be achieved. The two remaining conditions are the sale of a 5% local Namibian minority equity participation (under negotiation) and the fulfilment of certain affirmative action and poverty alleviation measures which are customary under Namibian law

About Osino Resources

Osino is a Canadian gold mine developer and explorer focused on the fast-tracked development of our PFS-stage Twin Hills Gold Project ('Twin Hills') in central Namibia. Since its grassroots discovery by Osino in August 2019 the Company has completed more than 250,000m of drilling at Twin Hills and in September 2022 released a prefeasibility study ('PFS') which outlines a 13-year open-pit mine life with an average annual gold production rate of 169koz per annum at all-in sustaining costs of US$930/oz in the 10 years of operation. This is based on 2.15 Moz in reserves. Osino also 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 has an active exploration program targeting gold mineralization that fits the broad orogenic gold model. Our core projects are favorably 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.

Contact:

Osino Resources Corp.

Leily Omoumi

VP

Corporate Development

E: lomoumi@osinoresources.com

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