Omai Gold Mines drilling Resource Expansion Program at Wenot Project, Guyana

Omai Gold Mines Corp. [TSXV: OMG; OTCQB: OMGGF] reported additional results from its ongoing 2025 drill program, focused on expanding the large Wenot deposit at the 100%-owned Omai Gold Project in Guyana, South America.

A total of 37 holes have been drilled to date this year, totalling 20,500 metres, having surpassed the original planned 15,000-metre program. Drilling continues to extend the known limits of gold mineralization at Wenot. Results are pending for an additional 8 holes. The long hole 25ODD-122, drilling across the Gilt Creek deposit, continues and is expected to test approximately 600m below the adjacent Wenot deposit.

Highlights – Hole 25ODD-119: 31.70 g/t Au over 7.5m (17.36 g/t Au over 7.5m capped at 70 g/t Au), including 141.74 g/t Au over 1.5m; 1.61 g/t Au over 36.4m, including 3.26 g/t Au over 3.8m; 3.89 g/t Au over 13.2m, including 6.02 g/t Au over 2.5m.

Hole 25ODD-124: 1.76 g/t Au over 20.5m, including 5.46 g/t Au over 3.5m and 5.67 g/t Au over 4.5m.

Hole 25ODD-124W: 2.64 g/t Au over 41.8m, including 9.25 g/t Au over 4.5m; 3.49 g/t Au over 17.4m, including 6.31 g/t Au over 7.4m; and 5.66 g/t Au over 7.5m.

Hole 25ODD-121: 9.85 g/t Au over 2.9m; 13.74 g/t Au over 3.5m; 11.26 g/t Au over 2.0m and 2.64 g/t Au over 12.4m.

Hole 25ODD-120: 1.66 g/t Au over 37.8m; 2.74 g/t Au over 9.4m and 0.96 g/t Au over 17.2m. Hole 25ODD-118: 3.10 g/t Au over 14.5m and 9.81 g/t Au over 2.5m.

Elaine Ellingham, President & CEO, commented: “Today’s news marks another excellent batch of drill results from the resource expansion drill program at Wenot. Highlights in hole 25ODD-119 alone include 31.70 g/t Au over 7.5m (17.36 g/t Au capped), 1.61 g/t Au over 36.4m, and 3.89 g/t Au over 13.2m.

“These drill results again exemplify the multiple zones we have at Wenot, with each hole testing multiple gold zones across the wide Wenot shear corridor. The Wenot shear corridor reaches widths of 350-400m in the central portion and extends at least 2.5km along strike. We are confident that the limits of the Wenot mineralization are still open for further expansion.

“With the very successful drilling over the past 18 months, we believe it is in the best interest of our shareholders to update the Mineral Resource Estimate. Our Wenot mantra over the past year has been simple: ΓÇÿHow Big Is It?’. The 2024-25 Wenot resource expansion drill program has now exceeded 33,000 metres and the updated Mineral Resource Estimate is underway. Focused additional drilling at Wenot will continue in support of the updated Preliminary Economic Assessment that is expected 3 to 4 months following the updated MRE.

Drilling is now shifting towards earlier-stage gold targets both along strike at Wenot and on certain near-surface zones where gold has already been identified. One drill has been mobilized to our Blueberry Hill target area and a second to the Camp Zone.

“The objective is to identify and quantify near-surface economic satellite deposits that could contribute to early mining. Concurrently, our exciting hole 25ODD-122, targeting both the Gilt Creek deposit and the Wenot depth potential, continues to progress well, and recently passed the 1,550m downhole mark. Drilling has been slow but steady.”

Omai Gold Mines is focused on rapidly expanding the two orogenic gold deposits at its 100%-owned Omai Gold Project in mining-friendly Guyana. The company has established the Omai Gold Project as one of the fastest growing and well-endowed gold camps in the prolific Guiana Shield greenstone belt.

In February 2024 the company announced an updated NI 43-101 Mineral Resource Estimate¹ (MRE) of 29 million tonnes grading 2.15 g/t Au and containing 2.0 million ounces of gold (Indicated) and 31 million tonnes grading 2.26 g/t Au and containing 2.3 million ounces (Inferred), comprised of both the Wenot open pit deposit and the adjacent Gilt Creek underground deposit.

This was followed by an initial baseline Preliminary Economic Assessment (PEA) in April 2024, which contemplated an open pit-only development scenario and included only 45% of the Omai Gold Project MRE. Subsequent to the 2024 MRE, the company has been drilling to expand gold resources at the Wenot deposit and has identified additional wide zones of high-grade gold mineralization.

In 2025 Omai Gold plans to continue its impactful drill programs, announce an updated and expanded MRE, and complete an updated PEA which would include an expanded Wenot open pit deposit and an underground mining scenario at Gilt Creek.

The Omai Gold Mine produced over 3.7 million ounces of gold from 1993 to 2005, ceasing operations when gold was below US$400/oz. The Omai site benefits from much existing infrastructure and will soon be connected to the two largest cities in Guyana, Georgetown and Linden, via paved road.