Highlights
• Osino receives an Environmental Clearance Certificate (“ECC”) from Namibia’s Ministry of the
Environment, Forestry and Tourism (“MEFT”) for its Twin Hills Gold Project in Namibia.
• The ECC is subject to the relocation of historical graves which are located within the Twin Hills
project area. A process is underway to secure the necessary consent to conclude this to the
satisfaction of Namibia’s National Heritage Council (“NHC”).
• The issuance of the ECC thus concludes one of three significant outstanding conditions for the
conclusions of a full mining license (“ML”) for the Twin Hills gold project, to be issued by Namibia’s
Ministry of Mines & Energy (“MME”). The process has been further described in a news release
dated 31 October 2022.
• The other conditions to the issuance of a full, unconditional ML are the implementation of a 5% noncarried minority interest for local shareholders and achievement of customary affirmative action
quotas (20% of management) and the submission of a strategy for adherence to the Namibian
government’s poverty alleviation and socio-economic upliftment strategy of especially
disadvantaged population groups.
• Granting of the ECC thus substantially de-risks Osino’s permitting timeline and confirms Namibian
regulatory support for the rapid advancement of Osino’s Twin Hills Gold Project into the
development phase.
• Applications to obtain the necessary secondary permits have commenced with the aim of
concluding all permitting, initiating early works and commencing with construction during H2 2023.
Vancouver, British Columbia, January 27, 2023 – Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF)
(“Osino” or “the Company”) is pleased to announce that the Namibian Ministry of Environment, Forestry and
Tourism (“MEFT”) has issued an Environmental Clearance Certificate (“ECC”) for the Twin Hills Gold Project (“Twin
Hills” or “the Project”) which is valid for three years and renewable on a three yearly cycle.
Twin Hills’ most recent technical study, a pre-feasibility (“PFS”) study released in September 2022, outlines a 13-
year open-pit mine life with an average annual gold production rate of 169koz per annum at all-in sustaining costs
of US$930/oz in the 10 years of operation. This is based on 2.15 Moz in reserves.
Heye Daun, Osino’s co-founder, President and CEO commented: ‘’We are very pleased to have received
environmental authorization for full-scale mining for our Twin Hills gold project. We recognize that there are still a
few outstanding approvals and consents to be achieved (such as the grave relocation, conclusion of the site-specific
secondary permits, and the additional conditions to the mining license explained below). Nevertheless, this
milestone takes us one step closer to being fully permitted. This again confirms Namibia as one of the world’s top
mining jurisdictions, where it is possible to permit and advance a large-scale open pit gold mining project, according
to global best practices, from inception to approval within less than three years. We commend our Namibian
regulators and service providers for this remarkable achievement.”
Osino Environmental Clearance Certificate Approved
Following extensive stakeholder engagement and environmental baseline studies in 2021 and early 2022, the
Namibian Ministry of Mines and Energy (“MME”) and Ministry of Environment, Forestry, and Tourism (“MEFT”)
thoroughly reviewed the Project’s Environmental and Social Impact Assessment (“ESIA”) and Environmental
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Management Plan (“EMP”) and found no material flaws in the scope and assessment of the project.
Included in the assessment and the management plan are provisions that any archeological finds must be reported
to the National Heritage Council (“NHC”) for review, guidance and management.
Following the discovery of some historical grave sites within the Twin Hills Project area, Osino conducted a field
review and documentation of the burial sites as an addendum to the archeological baseline study. Following this,
an additional reconnaissance fieldwork program was carried out in the area to confirm that no other graves exist.
All documents have been submitted to NHC for review and it is anticipated that the graves will have to be relocated,
with consent from the descendants.
Namibian Environmental and Mining Permitting Process Overview
As per the Environmental Management Act, 2007 (“EMA”), the proposed mining project triggers listed activities
under Namibia’s EMA. Such activities require an environmental clearance certificate. In 2020 Osino appointed an
independent environmental consulting firm (Environmental Compliance Consultancy (Pty) Ltd) as the
Environmental Assessment Practitioner (EAP) in accordance with EMA 2007 Regulation 3 to conduct an
environmental and social impact assessment and apply for the required environmental clearance certificate.
The MME is the competent authority for the proposed Project, and accordingly, the application was submitted to
MME to carry out their designated functions. Once an ECC is issued, the certificate becomes effective from the
date endorsed and remains effective for a period not exceeding three years as per the EMA 2007. ECCs are eligible
for renewal every three years.
The issuance of the ECC is one of three outstanding conditions for the conclusions of a full mining license for the
Twin Hills gold project, to be issued by Namibia’s MME. The process has been further described in a news release
dated 31 October 2022.
As stated earlier, once the conditions relating to grave relocations have been met, The first of the three main
conditions to the issuance of the full and unconditional mining license will be achieved. The two remaining
conditions are the sale of a 5% local Namibian minority equity participation (under negotiation) and the fulfilment
of certain affirmative action and poverty alleviation measures which are customary under Namibian law.
Secondary License Approvals
As previously reported, the Osino team have been preparing to apply for site-specific secondary permits which are
operationally specific. The timeframes for approvals of these secondary permits generally vary between three to
six months, and the application process has been initiated.
It is planned to commence with early works (road relocation, ground preparations, camp construction) early in the
second half of 2023. The initial permits to be applied for include road and river relocation/diversion, vegetation
removal, water abstraction, wastewater discharge and accessory works permits, amongst others.
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