Omai Gold Reports 7.26 g/t Gold Over 34.8 Metres at Central Wenot

• Hole 26ODD-185 returned 7.26 g/t gold over 34.8 metres at Central Wenot, including a higher-grade section of 54.05 g/t gold over 1.5 metres
• The hole intersected 15 separate gold zones, confirming continuity with earlier drilling in the same area
• Additional holes at West and Far East Wenot returned results including 2.96 g/t gold over 14.3 metres and 3.24 g/t gold over 8.0 metres
• Sediment-hosted gold zones within the planned pit boundary continue to be intersected, which the company expects will lower the strip ratio used in its 2024 economic assessment
• Five drill rigs remain active, with 58 holes and 27,770 metres completed so far in 2026

Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) is a Canada-based gold exploration and development company advancing the Omai Gold Project in Guyana, South America, where it holds a 100 percent interest in the Wenot and Gilt deposits. The site was previously a producing mine that yielded more than 3.7 million ounces of gold between 1993 and 2005 before closing when gold prices fell below US$400 per ounce. It has existing infrastructure, including an on-site airstrip and road access to Georgetown and Linden, Guyana's two largest cities. Following an updated mineral resource estimate in April 2026, the company is running a 50,000-metre drill program in 2026 and preparing an updated economic assessment for the Wenot and Gilt deposits.

High-Grade Drill Results Including 7.26 g/t Au Over 34.8m Confirming Continuity at Central Wenot

Hole 26ODD-185, drilled at Central Wenot, returned 7.26 g/t gold over 34.8 metres within the dike corridor, a structure that has previously hosted gold at Wenot. Within that interval, narrower sections assayed 54.05 g/t gold over 1.5 metres and 19.94 g/t gold over 2.5 metres. The hole intersected 15 separate gold zones across the volcanic rocks, dike corridor, and sedimentary sequence that make up the deposit.

The hole was drilled up-dip, closer to surface, from earlier holes 78, 107, and 169, which had previously returned gold in the same structural position. The company stated that the result confirms continuity of mineralisation between these locations.

Two other holes, 26ODD-183 at Central Wenot and 26ODD-184 at West Wenot, returned results including 2.96 g/t gold over 14.3 metres and 3.24 g/t gold over 8.0 metres. Both holes intersected mineralised zones above previously drilled intercepts in holes 119, 88, and 93.

Multi-Zone Intersections Across Central, West and Far East Wenot Supporting Strip Ratio Reduction

Drilling also intersected gold within the sedimentary rocks south of the main Wenot structure. These zones are generally lower grade than those in the volcanic and dike-hosted areas but fall within the boundary of the pit outlined in the company's 2024 economic assessment. The company noted that continued drilling of these zones is expected to convert material previously classified as waste into mineralised material, which would reduce the strip ratio used in that assessment, currently 7.8 to 1.

At the far eastern end of Wenot, 400 metres beyond the historic pit, holes 26ODD-186 and 26ODD-182 returned results including 3.01 g/t gold over 5.7 metres. This follows a nearby intercept of 11.07 g/t gold over 14.7 metres from a hole drilled in late 2025, an area the company said warrants further exploration given the limited drilling completed there to date.

A separate hole, 26ODD-187, tested a geophysical anomaly northeast of Wenot and returned a minor gold zone of 0.50 g/t gold over 1.5 metres. Results from a second hole testing the same target are pending.

Progress Toward Q3 2026 PEA Following Recent MRE Update and Positive Metallurgy

The current drill program follows two earlier 2026 updates. In April, Omai Gold increased the Wenot deposit's Indicated resource by 49.8 percent to 1,453,000 ounces of gold at 1.59 g/t, while the Gilt deposit's Inferred resource increased 120 percent to 1,465,000 ounces at 3.22 g/t. In June, metallurgical testing returned gold recovery rates of 93 to 95 percent using a standard leach and carbon-in-leach process, with no deleterious elements identified in either deposit.

These updates will form the basis of an updated Preliminary Economic Assessment expected in the third quarter of 2026, which will combine the Wenot open pit and the adjacent underground Gilt deposit into a single mine plan for the first time.

President and CEO Elaine Ellingham said:

"We are pleased to deliver more impressive results from Wenot and we expect drilling to continue through much of 2026. Work continues to progress on the Preliminary Economic Assessment with an estimated four to six week timeframe. The new mine plan will integrate both the Wenot open pit deposit and the adjacent intrusion-hosted underground Gilt Deposit."

Outlook

Drilling at Omai continues with five rigs active across the Wenot and Gilt deposits. The updated Preliminary Economic Assessment, incorporating the April 2026 resource estimate and recent metallurgical results, is expected in the third quarter of 2026. Results from the second hole testing the geophysical target northeast of Wenot are pending.

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