Name of the Project
Twin Hills gold project.

Location
Namibia’s prospective Damara sedimentary mineral belt.

Project Owner/s
Osino Resources.

Project Description
A preliminary economic assessment (PEA) completed has proposed a low-risk, technically simple openpit mine using contract mining and supplying a conventional carbon-in-leach metallurgical plant processing 3.5-million tonnes a year of mineralised material.

The PEA is based on the previously reported indicated mineral resources of 14-million tonnes grading 0.98 g/t gold, and inferred resources of 46.2-million tonnes grading 1.02 g/t gold.

The project is expected to produce and estimated 1.39-million ounces of gold over a 15-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value (NPV), at a 5% discount rate, of $579-million and an internal rate of return (IRR) of 45% at a gold price of $1 700/oz, with a payback of 2.2 years.

At a gold price of $1 850/oz, the project has a pretax NPV, at a 5% discount rate, of $724-million and an IRR of 53%, with a payback of 1.9 years.

Capital Expenditure
Preproduction capital is estimated at $176-million, plus $26-million contingency.

Planned Start/End Date
Not stated.

Latest Developments
Ongoing infill, resource expansion and brownfield exploration drilling, in addition to ongoing project optimisation, is likely to result in improved production parameters and economic outcomes.

A feasibility study is expected to be completed in the first half of 2022.

Key Contracts, Suppliers and Consultants
Lycopodium Minerals Africa (PEA).

Contact Details for Project Information
Osino Resources manager investor relations Julia Becker, tel +1604785 0850 or email jbecker@osinoresources.com.