Osino Resources Announces Drill Results and Discovery of New System with Large Scale Potential

VANCOUVER, July 18, 2018 - Osino Resources Corp. (TSXV:OSI) ("Osino” or “the Company”), is pleased to provide results and interpretation of the drill program completed at its Goldkuppe prospect extension targets (32 inclined RC holes, for a total of 3,309m). The results have now been received and interpreted and the Company is pleased to announce the discovery of a new gold system at Oasis and Wedge.

Oasis and Wedge are Goldkuppe extension targets located up to 2,500m along strike to the southwest of Goldkuppe (refer to Figure 1 on next page). Drilling in the area was targeting a surface geochem and structural target within the prospective schist geology located stratigraphically below the Goldkuppe carbonates, and in rocks similar to the nearby Navachab Gold Mine located 30km to the southwest which has a global resource of more than 5moz and is currently in production.

Heye Daun, Osino’s CEO, commented: “We are very excited about the results and on-going interpretation of our Goldkuppe extension drilling campaign, particularly at Oasis and Wedge where we achieved some very encouraging drill results. Osino was successful in intersecting high grade veins within a thick package of lower grade, more disseminated schist material. This is especially exciting as this represents a style of gold mineralisation not previously seen at Goldkuppe, with large-scale potential and many similarities to Navachab Gold Mine.”

The gold mineralisation at Oasis occurs within a broad unit of banded marble which has been highly altered to skarn and calc-silicate. The best hole at Oasis is OJR210 which intersected several high-grade quartz-sulphide veins which occur within or adjacent to narrow calc-silicate layers. Assays of 9.45 and 6.95g/t Au over a metre each are contained within lower grade haloes of 10m @ 1.58 and 8m @ 1.45g/t Au respectively, all contained within a disseminated zone of 45m at 0.75g/t Au. This gold bearing zone is open to the north and south as well as down dip. The gold mineralisation at Wedge North, 1,000m to the southwest of Oasis, is similar in style to Oasis and is possibly the strike continuation of the same large-scale system.

At Wedge South two holes were drilled to intercept gold mineralized quartz veins sampled at surface which returned an assay of 5.48g/t Au. These veins occur within biotite schist just below the contact with the marble. The best intercept is in hole OJR215 which returned 10m @ 2.00g/t Au within intensive (diopside – garnet) skarn altered schist. Soil sampling and mapping indicates that this mineralisation continues to the southwest.

Gold at Calidus, North End and Spang occurs in boudinaged, massive sulphide (pyrrhotite) zones within dolomitic marble. These sulphide zones generally occur near fold noses and are associated with skarn alteration. Similar larger scale massive sulphide zones at Goldkuppe Central returned intercepts of 22m @ 3.44g/t and 28m @ 1.75g/t Au. Calidus, North End and Spang are located along strike, approximately 1km northeast of Goldkuppe.

Goldkuppe is a large (3,000m long) mineralised system with gold occurring in several discontinuous, plunging shoots. The geology of the Goldkuppe Prospect is dominated by a series of interbedded marble and dolomite units belonging to the Karibib Formation.

The marbles are folded into an anticline which plunges gently to the northeast with beds dipping to southeast. These marbles are underlain by biotite schists which form into an anticline approximately 1km towards the southeast in the Oasis and Wedge area and which outcrop further to the southwest at Wedge South.

The drill program testing the Goldkuppe extension and adjacent targets was completed in late 2017 but was hindered at that time by a delay in assay results from the laboratory. The results have now been received and interpreted and the schematic drill plan in Figure 1 below indicates the location of the most significant drill holes and intercepts at Goldkuppe, Oasis and Wedge, together with the geological and structural setting.

Figure 1: http://www.globenewswire.com/NewsRoom/AttachmentNg/42eb8e2a-eeff-4da8-a273-9f4debf885f2

A large part of Goldkuppe remains untested.

A detailed magnetic survey, in-fill soil sampling, rock chip sampling and mapping are currently underway at Oasis and Wedge and will be completed in August. A follow-up drill program is planned for September 2018.

Table 1 below provides a summary of all the significant intercepts from the Goldkuppe extension drilling campaign.


Table1: Table of Significant Intercepts from Goldkuppe Extension Scout Drilling Campaign

Prospect	Hole ID	From	To	Interval	Au Grade	Azimuth	Dip	Type
 	 	 	 	(m)	(g/t)	(°)	(°)	 
Oasis	OJR210	75	76	1	3.10	300	-60	RC
 	And	85	93	8	1.45	 	 	 
 	And	114	124	10	1.58	 	 	 
 	In	75	124	49	0.75	 	 	 
 	And	50	51	1	2.17	 	 	 
Oasis	OJR211	49	50	1	1.15	300	-60	RC
 	And	92	93	1	2.08	 	 	 
 	And	113	117	4	1.38	 	 	 
Wedge South	OJR215	11	21	10	2.00	270	-60	RC
Wedge North	OJR212	23	25	2	1.15	300	-60	RC
 	And	29	30	1	1.12	 	 	 
 	And	38	42	4	1.25	 	 	 
 	And	73	74	1	2.40	 	 	 
Wedge North	OJR213	20	21	1	2.40	300	-60	RC
Spang	OJR206	11	16	5	1.48	337	-60	RC
North End	OJR188	33	36	3	1.52	337	-60	RC
 	And	42	46	4	1.03	 	 	 
 	And	83	84	1	1.20	 	 	 
North End	OJR189	12	16	4	1.03	337	-60	RC
Calidus	OJR200	71	72	1	1.34	337	-60	RC
Calidus	OJR201	0	3	3	1.09	337	-60	RC
 	And	9	11	2	2.20	 	 	 
 	And	37	39	2	1.26	 	 	 
 	And	87	88	1	1.32	 	 	 
Calidus	OJR203	38	40	2	1.42	337	-60	RC
 	And	65	66	1	1.24	 	 	 
Calidus	OJR205	83	84	1	1.50	337	-60	RC

Note: Intersections of significance are reported using a cut-off of 1g/t Au for the downhole weighted average of the continuous interval. The maximum gold assay reported is 9,45g/t over 1m and no top cutting has been applied to the assay data. All intersections reported are considered apparent width as the strike and dip of mineralization is currently unknown.


Quality Assurance

All Osino sample assay results have been independently monitored through a quality control / quality assurance ("QA/QC") program including the insertion of blind standards, blanks and pulp and reject duplicate samples. Logging and sampling are completed at Osino’s secure facility located in Omaruru near the Goldkuppe project. Drill core is sawn in half on site and half drill-core samples are securely transported to the Actlabs sample prep facility in Windhoek, Namibia. The core is dried, crushed to 95% -10mesh, split to 250g and pulverised to 95% -150mesh. Sample pulps are sent to Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5 g/t. In addition, pulps undergo 4-Acid digestion and multi-element analysis by ICP-AES or ICP-MS.


Qualified Persons

David Underwood, a Chartered Professional Geologist (SACNASP), and a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Karibib Gold Project has reviewed, verified and approved the contents of this news release.


About Osino Resources

Osino Resources Corp. (TSXV: OSI) is a Canadian company, focused on the acquisition and development of gold projects in Namibia. Osino’s Namibian interests comprise eighteen exclusive exploration licenses located within the central zone of Namibia’s prospective Damara belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is currently focusing its efforts on developing the Karibib Gold Project and defining new exploration targets in the Otjikoto East area and on our other licenses. The Karibib Gold Project is located approximately 130 km north-west of Namibia’s capital city Windhoek.

By virtue of its 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 its Namibian portfolio.

Further details are available on the Company's website at https://osinoresources.com/



CONTACT INFORMATION

Osino Resources Corp.
Heye Daun, CEO
Tel: +27 21 418 2525
hdaun@osinoresources.com



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