Omai Gold Reports 708-Metre Gold Intercept at Gilt Creek Deposit

• Hole 25ODD-122(w) returned 708.1 metres averaging 1.06 g/t gold starting at 364.9 metres downhole, with mineralisation beginning at approximately 260 metres vertical depth
• Higher-grade intervals include 1.32 g/t gold over 99.2 metres (containing 5.7 g/t gold over 8 metres) and 1.78 g/t gold over 46.2 metres (containing 4.88 g/t gold over 7 metres)
• Forty percent of samples from the Gilt Creek intrusive returned grades above 0.5 g/t gold, consistent with historical drilling by IAMGOLD in 2006-2007
• Results will support mine planning and metallurgical studies for integration into an updated Preliminary Economic Assessment scheduled for the first half of 2026
• Combined resources at Omai total 2.1 million ounces Indicated (2.07 g/t gold in 31.9 Mt) and 4.4 million ounces Inferred (1.95 g/t gold in 69.9 Mt)

Omai Gold Mines Corp. (TSXV: OMG) is a Canadian exploration and development company advancing two orogenic gold deposits at its wholly owned Omai Gold Project in Guyana. In August 2025, the company reported a 96% increase to the Wenot deposit Mineral Resource Estimate, bringing combined resources at the Wenot and Gilt Creek deposits to 2.1 million ounces Indicated and 4.4 million ounces Inferred. The project is located at the site of the historic Omai Mine, which produced 3.7 million ounces between 1993 and 2005. 

Gilt Creek Drilling Results and Higher-Grade Zones

Hole 25ODD-122(w) was drilled to test the Gilt Creek deposit at depth and laterally beyond previous drilling limits. The hole intersected the Gilt Creek intrusive complex at 367.5 metres downhole and continued through 711 metres of this unit to 1,078.5 metres. Gold mineralisation was encountered from 364.9 metres to 1,073 metres, yielding the reported 708.1-metre interval averaging 1.06 g/t gold. The hole was collared northwest of the old Gilt Creek pit and drilled through mafic volcanic rocks and a diabase dike before entering the intrusive.

Within the broader mineralised interval, several higher-grade zones were identified. A 99.2-metre section from 702 metres averaged 1.32 g/t gold and included 5.7 g/t gold over 8 metres. A 46.1-metre interval from 635.6 metres returned 1.78 g/t gold, incorporating 17.8 metres at 2.98 g/t gold. Additional intervals include 32 metres at 1.99 g/t gold, 24 metres at 3.10 g/t gold, and 43.2 metres at 2.04 g/t gold. Due to the presence of visible coarse gold, samples exceeding 0.5 g/t gold were analysed using metallic screening, which involves sieving a 500-gram sample and separately assaying coarse and fine fractions to provide more representative grades.

Of the 572 samples taken from the Gilt Creek intrusive portion of the hole, 226 samples (40%) assayed above 0.5 g/t gold. This proportion aligns with IAMGOLD's 2006-2007 drilling programme, which saw 41% of samples exceed this threshold across approximately 27,000 metres in 46 holes, and with Omai's earlier hole 24ODD-095, where 39% of samples exceeded 0.5 g/t gold.

President and CEO Elaine Ellingham stated:

"These assay results from the upper part of the 2,014m long hole show the robust and continuous nature of the gold-mineralised regime within the Gilt Creek quartz-diorite intrusive stock."

Mine Planning and Updated PEA Integration

The drilling programme at Gilt Creek addresses several objectives for project advancement. Results from holes 25ODD-122 and 24ODD-095 will support mine planning and metallurgical studies required to include Gilt Creek in an updated Preliminary Economic Assessment expected in the first half of 2026. The baseline PEA released in April 2024 contemplated an open-pit-only scenario and included less than 30% of the current Mineral Resource Estimate. The updated study will incorporate both the expanded Wenot open-pit deposit and the Gilt Creek underground deposit.

The current Mineral Resource Estimate for Gilt Creek comprises 1.15 million ounces of Indicated resources averaging 3.22 g/t gold in 11.1 million tonnes and 665,000 ounces of Inferred resources averaging 3.35 g/t gold in 6.2 million tonnes, using a 1.5 g/t gold cutoff. Approximately 80% of these resources lie at vertical depths between 280 and 600 metres. Initial engineering concepts anticipate a ramp from surface to access the deposit, with mining methods likely to include sub-level open stoping and transverse open stoping, followed by cut-and-fill mining.

A televiewer survey was conducted on hole 095 and select Wenot holes to provide detailed structural mapping for mine design and geological modelling. The optical and acoustic system maps rock structures to assist in ground control planning. Neither hole 122(w) nor hole 095 encountered high-pressure water or significant water return during drilling or surveying. Hole 122(w) continued beyond the Gilt Creek deposit to test the adjacent Wenot deposit at depth, reaching 2,014 metres and intersecting seven gold zones within the Wenot shear corridor.

Deposit Geology and Mineralisation Extent

The Gilt Creek deposit is an orogenic gold deposit hosted primarily within the Omai quartz-diorite intrusive stock, with gold zones extending into surrounding volcanic rocks. The upper portion of this deposit was mined by open pit between 1993 and 2005, producing 2.4 million ounces averaging 1.5 g/t gold. IAMGOLD's 2006-2007 drilling programme confirmed mineralisation continuation to a depth of 967 metres below surface, though drilling below 600 metres was sparse.

Before intersecting the main intrusive complex, hole 122(w) encountered gold mineralisation within mafic volcanic rocks, returning 3.10 g/t gold over 24 metres. Similarly, hole 095 intersected grades of 2.09 g/t gold over 10.5 metres and 1.59 g/t gold over 7.5 metres in volcanic rocks. These results indicate that mineralisation extends beyond the immediate footprint of the Gilt Creek intrusive. The hole ultimately reached the Wenot deposit at approximately 1,200 metres depth, some 700 metres below previously known Wenot mineralisation, demonstrating continuity between the two deposits separated by 500 metres at surface.

Mr. Ellingham noted:

"Mineralization in the Gilt Creek deposit first occurs just 46m downhole with 1.37 g/t Au over 7.5m in saprolite and ends at 2,014m with 3.61 g/t Au over 4.4m within less than 5m of the end of the hole in the adjacent Wenot deposit. This long hole across the two deposits exemplifies the sheer extent of gold mineralization on the Omai property."

Project Development and Next Steps

Omai Gold's current activities focus on advancing towards the updated Preliminary Economic Assessment expected in the first half of 2026. This study will integrate both the Wenot open-pit deposit and the Gilt Creek underground deposit, representing the first comprehensive economic evaluation of the combined project. At Wenot, ongoing drilling aims to optimise pit design, test lateral extensions of mineralisation, and upgrade Inferred resources to the Indicated category. Additional drilling is exploring known gold occurrences elsewhere on the property for potential near-surface satellite deposits. The project benefits from existing infrastructure at the historic Omai Mine site, which is connected to Georgetown and Linden, Guyana's two largest cities.

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