Technical Report for the Karibib Gold Project in Namibia Update Of
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Technical Report, Karibib Gold Project, 11 October 2019 Technical Report for the Karibib Gold Project in Namibia Update of Exploration Activities Report Prepared By: David Underwood, BSc (Hons), Chartered Professional Geologist (SACNASP) Vice President Exploration Osino Resources Corp. 11 October 2019 Osino Resources Corp. Suite 810 – 789 West Pender Street Vancouver, BC V6C 1H2 AC/6905879.2 Technical Report, Karibib Gold Project, 11 October 2019 Technical Report for the Karibib Gold Project in Namibia - Update of Exploration Activities Report prepared for: Osino Resources Corp. Suite 810 – 789 West Pender Street Vancouver, BC V6C 1H2 Effective date: 11 October 2019 Signature date: 15 October, 2019 Report prepared by: David Underwood BSc (Hons), Chartered Professional Geologist (SACNASP) Vice President Exploration Osino Resources Corp. __________________ Cover: Photo of Diamond Drilling at Twin Hills Central, Third Quarter, 2019. Osino Resources Corp. Suite 810 – 789 West Pender Street, Vancouver, BC, V6C 1H2 AC/6905879.2 Technical Report, Karibib Gold Project, 11 October 2019 Table of Contents Table of Contents ........................................................................................................... i List of Tables ................................................................................................................ iii List of Figures .............................................................................................................. iv 1. Summary ............................................................................................................... vi 2. Introduction ............................................................................................................ 1 2.1. Scope of Work ................................................................................................. 2 2.2. Basis of Technical Report ................................................................................ 2 2.3. Qualified Person .............................................................................................. 3 2.4. Site Visit .......................................................................................................... 3 3. Reliance on Other Experts .................................................................................... 3 4. Property Description and Location ....................................................................... 4 4.1. Mineral Tenure ................................................................................................ 4 4.2. Underlying Agreements, Permits and Authorizations ....................................... 5 4.3. Environmental Considerations ......................................................................... 7 4.4. Mining Rights in Namibia ................................................................................. 8 5. Accessibility, Climate, Local Resources, Infrastructure and Physiography ...... 9 5.1. Accessibility ..................................................................................................... 9 5.2. Climate 9 5.3. Local Resources and Infrastructure ............................................................... 10 5.4. Physiography ................................................................................................ 10 6. History .................................................................................................................. 10 7. Geological Setting and Mineralization ................................................................ 15 7.1. Regional Geology .......................................................................................... 15 7.1. Property Geology .......................................................................................... 18 8. Deposit Types ...................................................................................................... 24 9. Exploration ........................................................................................................... 28 9.1. Geochemistry ................................................................................................ 28 Stream Sediment Surveys ...................................................................................... 28 Soil Sampling Surveys ............................................................................................ 29 Rock Chip Sampling ............................................................................................... 34 9.2. Geophysical Surveys ..................................................................................... 36 Regional Survey ..................................................................................................... 36 Geophysical Surveys at Goldkuppe (EPL3739) ...................................................... 37 Osino Resources Corp. Suite 810 – 789 West Pender Street, Vancouver, BC, V6C 1H2 i AC/6905879.2 Technical Report, Karibib Gold Project, 11 October 2019 Geophysical Surveys at Twin Hills (EPL3739, EPL6953, EPL6167, EPL5649, EPL5658, EPL5117 and EPL5196) ........................................................................ 38 9.3. Exploration in the Project's Wilhelmstal Property (EPL 3738) ........................ 39 Geochemistry ......................................................................................................... 39 Geophysical Exploration ......................................................................................... 42 10. Drilling .................................................................................................................. 43 Drilling at Goldkuppe, Oasis and Wedge (EPL 3739) ............................................. 43 Drilling at Twin Hills Project (EPL 3739, 5658, 6953, 6167, 5196, 5649) ................ 49 11. Sample Preparation, Analyses and Security ...................................................... 59 12. Data Verification ................................................................................................... 64 13. Mineral Processing and Metallurgical Testing ................................................... 65 14. Mineral Resource Estimates ............................................................................... 65 15. Adjacent Properties ............................................................................................. 65 16. Other Relevant Data and Information ................................................................. 66 17. Interpretation and Conclusions .......................................................................... 66 18. Recommendations ............................................................................................... 67 19. References ........................................................................................................... 68 Osino Resources Corp. Suite 810 – 789 West Pender Street, Vancouver, BC, V6C 1H2 ii AC/6905879.2 Technical Report, Karibib Gold Project, 11 October 2019 List of Tables Table 1-1: The EPLs comprising the Karibib Gold Project in Namibia............................. vii Table 4-1: Details of the nine EPLs making up the Karibib Gold Project. .......................... 5 Table 4-2: Summary of farm access agreements for the Karibib Gold Project. ................. 6 Table 6-1: Summary of Historic Exploration by AAPS on EPL 3738 ............................... 13 Table 6-2: Historical exploration carried out in the area now covered by EPL5880. ....... 14 Table 7-1: General stratigraphy of the Damara Supergroup in the Central Zone of the Damara Belt with selected significant gold occurrences highlighted. ............................. 19 Table 9-1: Summary of Targets from Geochemical and Geophysical Data. ................... 36 Table 10-1: Significant Intercepts from Historical and 2016 Osino Drilling at Goldkuppe. .......................................................................................................... 45 Table 10-2: Significant Intersections for 2017 RC Drilling at Goldkuppe Extensions, Oasis and Wedge. ......................................................................................................... 47 Table 10-3: Significant Intercepts 2018 Diamond Drilling at Oasis and Wedge. ... 49 Table 10-4: Significant Intercepts in Twin Hills East RC and Diamond Drill Program. .......................................................................................................... 50 Table 10-5: Significant Intersections for Twin Hills Central Diamond Drill Program. ....... 51 Table 10-6: DD Hole Specifications..................................................................... 57 Table 10-7: Significant DD Intersections at B1, Cheshire Cat and Birds Nest Targets. .......................................................................................................... 57 Table 10-8: RC Hole Specifications..................................................................... 58 Table 10-9: Significant Intersections at the Leatherman Target. .......................... 58 Table 18-1: General planning for Osino’s work programs in Namibia in 2019 (prior to Twin Hills Central Discovery). .................................................................................... 67 Osino Resources Corp. Suite 810 – 789 West Pender Street, Vancouver, BC, V6C 1H2 iii AC/6905879.2 Technical Report, Karibib Gold Project, 11 October 2019 List of Figures Figure 1-1: Location of all Osino’s EPLs in Namibia, note the location of those EPLs that make up the Karibib Gold Project