Osino Resources Corp. to provide an update on the infill drill program at the Twin Hills Gold Project (?Twin Hills? or ?the Project?).

The objective of the program is to convert the first 2 years of mining from Indicated to Measured mineral resource category and to confirm and upgrade the Twin Hills Mineral Resource Estimate (?MRE?). Osino remains focused on the financing and pre-construction activities at Twin Hills, including de-risking the mineral resource estimate and the initial years of production. A total of 11,427m from 110 RC holes were completed within a block of 160m x 110m at Bulge pit.

These holes were drilled on a 12.5m x 12.5m grid spacing and ranged in depth from 60m to 123m. Drilling was generally done to a datum with a maximum hole depth of 123m. The program conforms to the existing inclined drill pattern with holes drilled at minus 60° dip towards the south-southeast.

The drill program covers the Bulge year one starter pit hosting sub-cropping mineralisation, which plunges north-northeast to form the main ore shoot. Most assay results from the Bulge pit have been received with only 13 holes outstanding from a total of 110. All remaining drill results are expected to be reported before end of November 2023.

An additional infill drill program was commenced during November at the Clouds and THC pits, with the aim of producing representative results for all of the main Twin Hills satellite pits. The infill program results will drive an internal review of geological and resource modelling techniques and parameters utilised in the generation of the latest MRE comprising 2.94moz at 1.08 g/t (Indicated & Measured) and 0.25moz at 1.10g/t. The program is on track to achieve its ultimate objective of confirming and upgrading the next MRE iteration. This drilling has intentionally been focused on the respective starter pits in the Bulge, THC, and Clouds areas and thereby not only significantly reduces the grade risk in the early years of production, but it will also assist in fine-tuning the geological modelling, wire-framing and grade estimation of the remainder of the deposit.

All holes drilled so far produced very good assay results which not only demonstrate the consistency and grade continuity of the Twin Hills mineralization, but also indicate the potential for grade improvements through constraining and utilizing a selective mining approach to modelling to improve the recoverable gold grade. Once the remaining drill results have been received, Osino will quantify the effect of this drilling on the mineral resource definition and grade estimation. It is expected that the increased drill density will result in a better definition of ore and waste boundaries and therefore has the potential to exclude areas of internal waste and result in an overall grade improvement.

The additional infill program at Twin Hills Central and Clouds pits is also aimed at converting the starter pit from Indicated to Measured category, thereby substantially de-risking the first 2 years of ore mining. A total of 3,517m in 43 reverse circulation holes have been planned on the Twin Hills Central orebody, at a similar 12.5 x 12.5m grid spacing, with a surface expression of about 75m x 75m. This block is an extension of the 100m x 50m block drilled in 2022 as an orientation study at the THC portion of the Twin Hills gold deposit.

This study validated the wider spaced modelling and resulted in a 9% improvement in average grade over the mineral resource without a loss in contained metal. 24 holes for a total of 1,921m have been drilled to date with 1,596m (19 holes) still to be completed before year-end. All holes have been drilled to a maximum depth of 84m.

A further 1,311m in 19 holes have been completed at the Clouds deposit to drill out a representative area with a similar grid spacing. The surface expression of the Clouds block is 75 x 50m in size. A total of 546m (8 holes) drilled to a maximum depth of 77m are still to be completed with first results expected at the beginning of December.

All new assay results from this tight spaced drilling will be used to validate and confirm the Twin Hills Mineral Resource Estimate (?MRE?) modelling techniques and parameters utilized, and to upgrade the current MRE. The first tight infill drill program was completed in early 2022 as an orientation study at the THC portion of the Twin Hills gold deposit. The program aimed to validate Osino's resource estimation techniques and parameters while firming up on the geological model, ahead of the planned release of the MRE that would ultimately inform the prefeasibility and definitive feasibly studies late in 2022 and early in 2023 respectively.

The THC program returned good results as expected and provided better definition of the ore envelope boundaries. Detailed variability analysis of the block similarly informed on the grade continuity of the mineralisation and therefore the drill spacing needed to convert Indicated resources to the Measured category. The infill block at THC ultimately served to compare different estimation methods.

It was found that estimation by Ordinary Kriging, as previously used by Osino to determine the Twin Hills resource, produced smoothed estimates, smearing grades and diluting mineralisation envelopes. In comparison, the non-linear estimation method of Uniform Conditioning (UC) estimates the tonnage and grade of mineralisation that can be recovered using the Selective Mining Unit (SMU) at selected cut-off values. The Localised Uniform Conditioning (LUC) method then further enhances the UC approach by ranking and arranging the SMUs within larger panels (blocks).

LUC produces results representative of grade and geology, but also in a more practical format, particularly for use in mine planning. The net result of the 2022 THC infill drill program was a 9% improvement in average grade over the drilled block with no loss in contained metal. As soon as all of the Bulge infill drill results have been received, plan to complete a similar analysis in order to confirm or improve on the resource modelling and estimation techniques with the aim of confirming or improving the grade estimate for the Twin Hills MRE.