Omai Gold Reports High-Grade Drill Results at Wenot as Resource Estimate Nears Completion

• Hole 25ODD-152W returned 12.34 g/t Au over 17.5 metres, including 138.18 g/t Au over 1.3 metres, within the Dike Corridor at central Wenot.
• Hole 25ODD-154 returned 3.09 g/t Au over 24.6 metres, including 19.54 g/t Au over 1.1 metres and 4.02 g/t Au over 9.0 metres, with visible gold observed in core.
• All five drill holes intersected multiple separate gold zones across different geological settings within the deposit.
• Results will be incorporated into an upcoming Mineral Resource Estimate (MRE) targeted for Q1 2026, to be followed by an updated Preliminary Economic Assessment (PEA) in Q2 2026.
• Step-out drilling continues at East Wenot, with additional holes planned following receipt of assays from Hole 25ODD-160.

Omai Gold Mines Corp. (TSXV: OMG | OTCQB: OMGGF) is a Canada-based gold exploration and development company focused on expanding two orogenic gold deposits at its wholly owned Omai Gold Project in Guyana, South America. The site previously hosted the Omai Gold Mine, which produced over 3.7 million ounces of gold between 1993 and 2005, and retains existing infrastructure including an on-site airstrip and road connections to Georgetown and Linden. As of August 2025, the project's global mineral resource stands at 2.12 million ounces of gold in the Indicated category and 4.38 million ounces in the Inferred category across the Wenot and Gilt Creek deposits. An updated MRE and PEA are planned for the first half of 2026.

High-Grade Intercepts at Central Wenot, Including 12.34 g/t Au over 17.5m and 3.09 g/t Au over 24.6m

Hole 25ODD-152W was drilled as a wedge off an earlier hole from the south side of the Wenot deposit. No significant gold was intersected in the upper sedimentary sequence, but multiple zones were returned further downhole. Within the Central Quartz Feldspar Porphyry Dike (CQFP, an intrusive rock unit that serves as one of the main gold hosts at Wenot) and an adjacent diorite dike, the hole returned 2.29 g/t Au over 12.6 metres. Continuing into the Dike Corridor, the hole intercepted 2.34 g/t Au over 10.6 metres, 5.23 g/t Au over 5.1 metres, and the best result of 12.34 g/t Au over 17.5 metres, which included a 1.3-metre core grading 138.18 g/t Au.

Hole 25ODD-154 was drilled from the south as well and intersected gold across several distinct geological domains. A southern intrusive unit returned 2.91 g/t Au over 3.6 metres, followed by two narrower zones in the sedimentary sequence grading 7.57 g/t Au over 1.1 metres and 8.26 g/t Au over 1.5 metres, associated with quartz and ankerite veins containing pyrite and visible gold. After the CQFP, the hole returned 3.50 g/t Au over 13.4 metres, and further into the Dike Corridor, 3.09 g/t Au over 24.6 metres, which included 19.54 g/t Au over 1.1 metres and 4.02 g/t Au over 9.0 metres.

President and CEO Elaine Ellingham stated:

"These continued strong assay results from Wenot demonstrate the size and potential of the gold system at the Omai project. Additional drill results are expected in the short term as we drive forward to complete the Mineral Resource Estimate in Q1, to be followed by the updated Preliminary Economic Assessment in Q2."

Multiple Gold Zones Across Five Drill Holes Supporting the Upcoming Mineral Resource Estimate

Each of the five holes reported intersected gold across multiple structural settings, rather than in a single zone. Hole 25ODD-149W2 returned mineralisation in the sedimentary sequence, within the CQFP and an adjacent diorite dike, and again within the Dike Corridor. Hole 25ODD-153, drilled from the north on a different cross-section, intersected 2.13 g/t Au over 8.5 metres and 5.53 g/t Au over 1.1 metres in the CQFP contact area, in addition to several zones within the Dike Corridor. True widths across all holes are estimated at 70 to 90% of reported downhole intervals.

The results from all five holes will be included in the company's upcoming MRE. An MRE is an independent, standardised estimate of the total gold contained in a deposit, categorised by confidence level. The company's most recent MRE, published in August 2025, reflected a 96% increase in Indicated ounces at Wenot to 970,000 ounces averaging 1.46 g/t Au. The current drilling programme includes both infill holes, which aim to convert existing Inferred resources to the higher-confidence Indicated category, and step-out holes designed to test the boundaries of the deposit.

The April 2024 PEA, which modelled an open pit development scenario, incorporated less than 30% of the current resource base. The updated PEA planned for Q2 2026 will be based on the revised MRE and is expected to include both the expanded Wenot open pit deposit and the adjacent Gilt Creek underground deposit.

President and CEO Elaine Ellingham added:

"Wenot has proven to be a very large gold deposit and although it is already sufficiently large to advance towards development, we are confident that the overall gold resources will continue to increase."

Ongoing Step-Out Drilling Targeting Deposit Expansion at East Wenot

Hole 25ODD-155 was drilled at the eastern end of the Wenot deposit, 59 metres northeast of Hole 25ODD-142, which had previously returned 11.07 g/t Au over 14.7 metres at approximately 220 metres depth in December 2025. Hole 155 was positioned further north than planned due to a surface terrain restriction and did not intercept the same zone. Multiple narrow gold intervals were nonetheless returned within the Dike Corridor, including 2.83 g/t Au over 2.5 metres and 4.48 g/t Au over 1.5 metres.

A follow-up hole, 25ODD-160, was subsequently drilled on a section line 108 metres to the west, with the objective of better defining the geometry of the high-grade zone from Hole 142. The company is awaiting assays and geological interpretation from Hole 160 before proceeding with further drilling in the area. The company also notes indications that the main geological contact at the east end of the deposit may dip to the south, which differs from the predominantly vertical to steeply north-dipping orientation seen across most of Wenot, and that additional drilling will be required to understand this variation.

Several historically drilled, shallow gold zones at the east end of Wenot remain underexplored, and the company has indicated that a series of holes targeting these zones are planned. The company has three drill rigs active as part of its 2026 programme, with work continuing across central and eastern Wenot as well as other known gold targets on the broader Omai property.

Milestones and Next Steps

With five holes now reported from the 2025 drilling programme and additional assay results pending, Omai Gold is working towards the completion of its updated MRE in Q1 2026. That estimate will capture results from the expanded programme and feed directly into the revised PEA targeted for Q2 2026. Drilling is ongoing, with the 2026 programme focused on resource upgrading at central Wenot and continued step-out work to the east and west. Further assay results are expected in the near term.

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