The invention discloses a novel fine metal mask plate for producing an organic light emitting diode (OLED) display panel and a fabrication method of the novel fine metal mask plate. The novel fine metal mask plate comprises a border formed by a plurality of through holes formed in a metal substrate, wherein a layer of fine mask is electroformed on the upper surface of the border, so that the fine mask and the border are combined into a whole; the fine mask divides a pattern area and a border area, on which a part with a fine structure is formed; the through holes in the pattern area and the border correspond to each other. The fabrication method comprises the following steps: A, preparing the metal substrate, namely carrying out rough shape cutting on an invar alloy plate or a stainless steel plate, so as to accord with the design size and form the metal substrate; B, fabricating the fine mask, namely coating a photoresist layer on the metal substrate, developing required patterns on the photoresist layer on the metal substrate, and orderly electroforming a metal substrate layer and a metal layer with a low coefficient of thermal expansion, so as to form the fine mask of the mask plate; and C, etching the substrate, namely dividing the pattern area on the refine mask, etching off the metal substrate in a district corresponding to the back part of the pattern area by a chemical etching method, so as to form the through holes, and leaving an external border and an internal partition frame, so that the external border and the internal partition frame jointly support the fine mask.