Highlights:
• NPV of US$742m (pre-tax) and IRR of 34% at 5% discount rate and US$1750/oz gold price.
• NPV of US$480m (post-tax) and IRR of 28% at 5% discount rate and US$1750/oz gold price.
• At spot gold prices (US$1,950/oz) the project generates just under US$1.5bn of net pre-tax cashflows,
demonstrating the strong margins, cash generation potential & economics of the project.
• Overall capital cost of US$365m (incl. US$34m contingency & US$18m capitalised pre-strip) with a payback
period of 2.2 years.
• 13-year Life-of-Mine ("LOM") and 5.0 million tonnes per annum ("mtpa") design processing capacity.
• LOM gold recovery of 92% utilising conventional 3-stage crushing, ball milling, gravity separation, preoxidation and CIL circuit plus filtration & dry-stack tailings deposition.
• Responsible social and environmental design criteria have been key study elements and have been integral
to design and project planning from the outset, contributing considerably to the robustness of the project.
Osino will host a webinar to discuss the DFS results, today, June 12, 2023 at 11am ET (8am PT). Register here
to participate: Osino DFS Presentation.
Vancouver, British Columbia, June 12, 2023 – Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF)
("Osino” or “the Company”) is pleased to announce the results of the definitive feasibility study (“DFS”) for Osino’s
Twin Hills Gold Project (“Twin Hills“ or the “Project”), which is located in central Namibia and is being advanced
rapidly through accelerated expansion drilling and fast-tracked development studies.
The DFS was prepared by Lycopodium Minerals Canada Ltd. (“Lycopodium”) in accordance with National
Instrument 43-101—Standards of Disclosure for Mineral Projects ("NI 43-101") and contemplates a low-risk,
technically simple open-pit mine utilizing contract mining and feeding a conventional carbon-in-leach (“CIL”)
metallurgical plant processing 5mtpa of mineralized material.
Heye Daun, Osino’s co-founder, President & CEO commented: “We are very pleased with the results of this DFS
which confirms Twin Hills as a technically simple, long-life and low-cost gold project with very strong economics
and plenty of upside. Now that the DFS has been completed, we will immediately commence with detailed
engineering and our vision is to reach a fully financed construction decision by the end of 2023. The results of this
DFS demonstrate that Twin Hills is a very robust, cash generative project which will deliver outstanding returns to
shareholders once it goes into production, hopefully towards the end of 2025 or early 2026.”
The Twin Hills Gold Project is located within Namibia’s prospective Damara mineral belt. Twin Hills is a
sedimentary-hosted, structurally controlled gold deposit that fits the broad orogenic model and is amenable to
conventional open-pit gold mining and carbon-in-leach metallurgical processing. Twin Hills lies in proximity to and
along strike of the producing, open-pit Navachab and Otjikoto gold mines.
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DFS Overview and Financial Analysis
The table below summarizes the results and key valuation metrics of the DFS on a pre- and post-tax basis.
Table 1: Feasibility Study Economic Assessment Summary

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