Omai Gold Delivers Strong Drill Results as Wenot Resource Expansion Program Continues

• Latest drill results include exceptional grades of 17.36 g/t Au capped over 7.5 metres and 2.64 g/t Au capped over 41.8 metres at the Wenot deposit 
• 2025 drill program has exceeded original 15,000 metre target, reaching 20,500 metres across 37 holes with results pending for 8 additional holes 
• Multiple wide, high-grade zones confirmed within the Wenot shear corridor, which spans 350-400 metres in width and extends over 2.5 kilometres along strike 
• Updated Mineral Resource Estimate is underway following successful 33,000 metre drilling campaign, with updated Preliminary Economic Assessment expected 3-4 months thereafter 
• Strategic deep drilling continues to test connectivity between Wenot and adjacent Gilt Creek deposits at depth

Omai Gold Mines Corp. (TSXV: OMG) (OTC: OMGGF) is a Canadian gold exploration and development company focused on rapidly expanding its 100 per cent owned Omai Gold Project in Guyana, South America. The company has established this project as one of the fastest growing and well-endowed gold camps in the prolific Guiana Shield greenstone belt. In February 2024, Omai Gold announced an updated NI 43-101 Mineral Resource Estimate of 29 million tonnes grading 2.15 g/t gold containing 2.0 million ounces (Indicated) and 31 million tonnes grading 2.26 g/t gold containing 2.3 million ounces (Inferred), comprised of both the Wenot open pit deposit and the adjacent Gilt Creek underground deposit.

The Omai Gold Mine previously produced over 3.7 million ounces of gold from 1993 to 2005, ceasing operations when gold prices were below US$400 per ounce. The site benefits from existing infrastructure and is positioned to benefit from improved road connectivity to Georgetown and Linden, Guyana's two largest cities. In 2025, Omai Gold plans to continue its drilling programs, announce an updated and expanded Mineral Resource Estimate, and complete an updated Preliminary Economic Assessment which would include an expanded Wenot open pit deposit and an underground mining scenario at Gilt Creek.

High-Grade Drill Results at Wenot

Omai Gold reported assay results for six holes totalling 3,760 metres from its resource expansion program at Wenot. The drilling targets gold mineralisation within the Wenot shear corridor, which reaches widths of 350-400 metres in the central portion.

Hole 25ODD-119 intersected 31.70 g/t gold over 7.5 metres (capped at 17.36 g/t gold), including 141.74 g/t gold over 1.5 metres within the "Dike Corridor". The hole also returned 1.61 g/t gold over 36.4 metres and 3.89 g/t gold over 13.2 metres. These intersections occurred at vertical depths between 280-450 metres. The company noted that these intervals correspond with similar results from neighbouring holes 25ODD-101 and 24ODD-092.

Hole 25ODD-124W intersected 2.64 g/t gold over 41.8 metres, including 9.25 g/t gold over 4.5 metres. The hole also returned 3.49 g/t gold over 17.4 metres and 5.66 g/t gold over 7.5 metres. These results are located approximately 100 metres below the 2024 Preliminary Economic Assessment pit shell.

The drilling results indicate multiple gold zones within the Wenot shear corridor system. All reported intervals are below the 2024 Mineral Resource Estimate pit shell and are expected to contribute to the upcoming updated estimate.

Progress of 2025 Drill Program

The company's 2025 drilling campaign has completed 37 holes totalling 20,500 metres, surpassing the original 15,000-metre program. Results are pending for an additional eight holes. The expanded program targets areas both within and below the current resource outline.

President and CEO Elaine Ellingham commented:

"Today's news marks another excellent batch of drill results from the resource expansion drill program at Wenot. 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 2024-25 Wenot resource expansion drill program has exceeded 33,000 metres. An updated Mineral Resource Estimate is underway, with an updated Preliminary Economic Assessment expected 3-4 months following the resource update.

Drilling activities are shifting towards earlier-stage gold targets along strike at Wenot and at near-surface zones where gold has been identified. One drill has been mobilised to the Blueberry Hill target area and another to the Camp Zone. The stated objective is to identify satellite deposits that could contribute to early mining scenarios.

Ongoing Deep Drilling to Connect Wenot and Gilt Creek

The company is conducting deep drilling to test potential connectivity between the Wenot and Gilt Creek deposits. Hole 25ODD-122 continues drilling and has passed the 1,550-metre downhole mark. The hole targets both the Gilt Creek deposit and Wenot's depth potential.

The technical team expects hole 25ODD-122 to test approximately 600 metres below the adjacent Wenot deposit. The company reported that drilling has been slow but steady due to technical challenges. The Gilt Creek deposit contains 1,151,000 indicated ounces of gold averaging 3.22 g/t gold and 665,000 inferred ounces averaging 3.35 g/t gold.

The deep drilling program forms part of the company's strategy ahead of the updated Preliminary Economic Assessment. The updated assessment is expected to include both an expanded Wenot open pit scenario and an underground mining component at Gilt Creek.

The program aims to test the full extent of the Wenot-Gilt Creek system. Results from this deep drilling will inform the development scenarios under consideration for the project.

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