Osino Resources Corp. provided an update on the Phase 2 drill program at the Eureka Project. This current drill program is aimed at further definng and expanding the Eureka godl discovery announced in the news release dated 9th August 2023.

A total of seven holes for 1400m were planned for the Phase 2 Drill Program which commenced in late September 2023. Five holes have been completed to date for a total of 1,133m and it is possible that the drill budget will be extended due to the continuing positive results from step out holes. Holes ORD010 to ORD014 were drilled on an azimuth of 090, perpendicular to the strike of the parasitic fold mapped on surface.

Holes ORD015 and 016 are planned on an azimuth of 135 degrees perpendicular to the strike of lithologies to the east of the parasitic fold. These holes will test the continuity of mineralization to the east of the parasitic fold within the gossan and garnet alteration, as well as the marble contact where a recent rock chip sample returned an assay value of 12.1 g/t Au. The mineralization is contained within the Okonguarri Formation of the Damara Supergroup.

The Okonguarri Formation is the same host rock to B2Gold Corp.'s Otjikoto gold project, which is located approximately 140km's to the north-east along strike. The mineralization currently being drilled appears to be in a south-westerly plunging shoot which has been intersected over an area (projected to surface) of 350 x 150m to date, with an apparent thickness of approximately 20 - 60m and open to the west, south and east. The gold mineralization appears to have occurred in two phases, initially a low-grade pulse associated with bedding parallel, quartz-carbonate veins and subsequently a higher-grade pulse in massive sulphide breccias along axial planar faults.

The sulphides consist of pyrrhotite and pyrite with minor chalcopyrite. The highest grade intervals are dominated by massive pyrrhotite and intense brecciation. Garnet alteration in finely interbedded sands and shales is often associated with high-grade zones, and this is used as an indicator for gold exploration in the area.

The planned work program for the next few months for the Eureka discovery and surrounding area includes the following: Complete Phase 2 drilling and assaying, then update the geological and structural model. Complete a detailed heli-borne magnetic survey (50m line spacing) across the licence, planned for late November 2023. This will better define the five magnetic targets outlined from the regional magnetics to date and hopefully identify further targets.

Alteration mapping using satellite and airphoto data. Step out and infill surface geochemistry sampling programs, including recently generated targets in the far north of the license, located within the highly prospective Kuiseb Formation Sediments (host rocks to the Twin Hills, Kokoseb and Ondundu Gold Project). Further delineation and step-out drilling - first quarter of 2024.

Follow-up mapping and rock chip sampling from licence-wide soil program. Scout drilling of magnetic targets (pyrrhotite dominated mineralization has strong magnetic signature).