Omai Gold Reports 2025 Resource Growth and 2026 Development Timeline

• Completed 39,000 metres of drilling in 2025, increasing mineral resource estimate by over 50% to 6.5 million ounces of gold across Wenot and Gilt Creek deposits
• Raised C$65 million through two private placements, ending year with C$57 million cash position
• Submitted Environmental Impact Assessment application and completed formal community consultations
• Preliminary Economic Assessment scheduled for Q2 2026 will incorporate Wenot open pit and Gilt Creek underground deposit
• Discovered Wenot shear extension at 700 metres depth with seven gold zones intersected

Omai Gold Mines Corp. (TSXV: OMG) is a Canadian gold exploration and development company advancing two orogenic gold deposits on its 100%-owned Omai Gold Project in Guyana. The project's mineral resource estimate, announced in August 2025, totals 2.1 million ounces indicated at 2.07 grams per tonne gold in 31.9 million tonnes, and 4.4 million ounces inferred at 1.95 grams per tonne gold in 69.6 million tonnes across the Wenot and Gilt Creek deposits. The property is located on the site of the historic Omai Gold Mine, which produced 3.7 million ounces between 1993 and 2005. The project has existing infrastructure including road access and an airstrip.

2025 Exploration and Resource Expansion Achievements

Omai Gold completed approximately 39,000 metres of diamond drilling in 2025, operating five drill rigs between January and December. The programme focused on expanding the Wenot shear-hosted deposit along strike and at depth. Drilling results included multiple high-grade intercepts, with hole 25ODD-119 returning 31.7 grams per tonne gold over 7.5 metres, 1.61 grams per tonne over 36.4 metres, and 3.89 grams per tonne over 13.2 metres. Hole 25ODD-102 intersected 28.04 grams per tonne over 9.3 metres and three additional mineralised zones.

The August 2025 mineral resource estimate showed a 92% increase in inferred resources to 4.4 million ounces and a 7% increase in indicated resources to 2.1 million ounces compared to the February 2024 estimate. The Wenot open pit deposit resources increased by 96%, adding 2.2 million ounces of inferred gold. Step-out drilling identified new zones at East Wenot with 11.07 grams per tonne over 14.7 metres and West Wenot with 2.63 grams per tonne over 27.5 metres.

The company drilled a 2,014-metre hole that first intersected 699 metres across the Gilt Creek deposit, averaging 1.06 grams per tonne gold over 708.1 metres of core, before continuing to discover the Wenot Shear extension at approximately 700 metres depth below the known deposit. This deeper intersection encountered seven gold zones. By year end, an additional 18,000 metres of drilling was completed with assay results pending.

Permitting and Corporate Financing Progress

Omai Gold advanced permitting activities in 2025, building on the interim environmental permit received in late 2024 from Guyana's Environmental Protection Agency. The company engaged ERM International to assist with the Environmental Impact Assessment application process, which was submitted during the year. Formal community consultations were completed by year end with assistance from the Environmental Protection Agency. The company expects to receive defined terms and scope for the Environmental Impact Assessment early in 2026.

The company completed two private placements during 2025. In February, Omai Gold closed a C$25.3 million bought-deal placement at C$0.30 per share. In October, the company raised an additional C$40 million at C$1.15 per share. These financings provided a year-end cash position of C$57 million. The October financing price represented a 283% increase from the February placement price.

Management participated in investor conferences in Stockholm, Paris, London, Zurich, Miami, New York and New Orleans throughout the year. The company added institutional shareholders and increased analyst coverage during 2025. The share price increased by over 500% during the year.

2026 Development Milestones and Outlook

Omai Gold plans to release an updated mineral resource estimate in Q1 2026, incorporating results from the additional 18,000 metres of drilling completed in late 2025. This will be followed by a Preliminary Economic Assessment in Q2 2026, which will integrate both the Wenot open pit deposit and the Gilt Creek underground deposit. This represents the first time Gilt Creek will be included in an economic study.

The upcoming assessment will differ from the baseline Preliminary Economic Assessment released in April 2024, which contemplated only an open pit development scenario and included less than 30% of the current mineral resource base. The Q2 2026 study will incorporate the expanded Wenot resource, which increased by 96% in the August 2025 estimate, along with revised pit optimisation and the addition of underground mining at Gilt Creek.

Drilling operations resumed in January 2026 to continue testing the limits of the Wenot deposit and to upgrade inferred resources to the indicated category for future prefeasibility or feasibility studies.

President and CEO Elaine Ellingham stated:

"As we look ahead to 2026, the Company is focused on several other key objectives in addition to the PEA, including advancing permitting activities, the delivery of an updated mineral resource estimate early in the year, and looking further ahead to commence work towards a Pre-Feasibility or Feasibility Study."

Conclusion

Omai Gold completed 39,000 metres of drilling in 2025, increasing its mineral resource estimate to 6.5 million ounces of gold. The company holds C$57 million in cash following two private placements and has submitted its Environmental Impact Assessment application. An updated mineral resource estimate is scheduled for Q1 2026, followed by a Preliminary Economic Assessment in Q2 2026 that will incorporate both the Wenot open pit and Gilt Creek underground deposits. Drilling resumed in January 2026 to support resource upgrade work and future feasibility studies.

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