Osino obtains Final Court Order approving Plan of Arrangement and Yintai obtains NDRC Approval

VANCOUVER, British Columbia, May 15, 2024 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSX:OSI.V) (NSX:OSN) (FSE:RSR1) ("Osino" or the "Company") today announced that (i) it obtained on May 2, 2024 a final order from the Supreme Court of British Columbia approving the previously announced statutory plan of arrangement under Business Corporations Act (British Columbia), pursuant to which Yintai Gold Co., Ltd ("Yintai") will acquire all of the outstanding common shares of Osino for cash consideration of C$1.90 for each Osino Share (the "Arrangement"), all as more particularly described in Osino's management proxy circular dated March 25, 2024 (the "Circular"); and (ii) Yintai has obtained the approval of the National Development and Reform Commission of the People's Republic of China.

This means that two of the necessary three Chinese regulatory approvals have now been fulfilled and the Arrangement therefore remains on track to close on or about the end of H1 2024, subject to approvals by regulatory authorities, namely the Namibian Competition Commission and the State Administration of Foreign Exchange of the People's Republic of China.

For a more detailed description of the Arrangement, readers should review the Circular.

About Osino Resources Corp.

Osino is a Canadian gold exploration and development company focused on the fast-tracked development of our wholly owned, Twin Hills Gold Project in central Namibia. Since its grassroots discovery by Osino in August 2019, Osino has completed more than 250,000m of drilling and has completed a suite of specialist technical studies culminating in the recently published Twin Hills Definitive Feasibility Study ("DFS") dated effective June 12, 2023. The DFS describes a technically simple and economically robust open-pit gold operation with a 13-year mine life and average annual gold production of over 162,000oz per annum.

Osino has a commanding ground position of over 8,000km² located within Namibia's prospective Damara sedimentary mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is actively exploring a range of gold prospects and targets along the belt by utilizing a portfolio approach geared towards discovery, targeting gold mineralization that fits the broad orogenic gold model.