Omai Gold Reports High-Grade Results at Wenot Northeast and Begins Deep Drilling at Gilt

• Hole 26ODD-180 returned 8.54 g/t gold over 20.6 metres, including 25.89 g/t over 2.5 metres and 13.42 g/t over 5.8 metres.
• Twelve holes confirmed splay zones extending as far as 310 metres north of the Wenot central contact zone.
• A newly arrived drill rig with rod-pulling assistance has begun a deep hole targeting more than 1,200 metres at the Gilt Deposit.
• Five drill rigs remain active under the Company's 50,000 metre 2026 program, with 23,685 metres completed to date.
• The Preliminary Economic Assessment is expected to be completed within six to eight weeks, incorporating the expanded Wenot and Gilt resources.

Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) is a Canada-based gold exploration and development company advancing its 100%-owned Omai Gold Project in Guyana, South America. The project hosts the Wenot and Gilt deposits, both orogenic gold systems. In April 2026, the Company announced an updated resource estimate that increased Wenot's Indicated resource to 1,453,000 ounces of gold and Gilt's Inferred resource to 1,465,000 ounces. The Omai Gold Mine previously produced over 3.7 million ounces of gold between 1993 and 2005. The project includes an on-site airstrip and road access to Georgetown and Linden, Guyana's two largest cities.

High-Grade Intercepts at Wenot Northeast Confirm New Splay Zones and Extend the Dike Corridor Gold System

Omai Gold reported assay results from twelve drill holes collared along a 450 metre section on the northeastern part of the Wenot deposit. The holes were designed to test a series of splay zones branching off the main Wenot shear corridor and to extend known gold zones within the Dike Corridor. Results confirmed gold mineralisation in the splay zones as far as 310 metres north of the Wenot central contact zone, an area with limited prior drilling.

Deeper intervals within the same holes intersected the Dike Corridor. Hole 26ODD-180 returned 8.54 g/t gold over 20.6 metres, including 25.89 g/t over 2.5 metres and 13.42 g/t over 5.8 metres. Additional intercepts included 5.79 g/t over 7.7 metres in hole 26ODD-173W and 14.07 g/t over 2.3 metres, also in hole 26ODD-180. Most holes extended the Dike Corridor zones by 50 to 75 metres down dip from previous drilling.

The splay zones identified in this program fall within the area being evaluated for the proposed open pit.

Elaine Ellingham, President and CEO, stated:

"These holes confirm the strike extension of these shallow zones that fall within the proposed pit area, but are far outside the area of historical mining. Multiple impressive drill intersections in the Dike Corridor continue to speak to the ongoing strength of this project."

Deep Hole Drilling Commences to Test the Depth Potential of the Gilt Deposit

Omai Gold has started drilling a deep hole at the Gilt Deposit, targeting a depth of more than 1,200 metres to test the down-dip extension of the deposit. Company management was on site for the start of this hole.

The hole is being drilled using a newly arrived rig equipped with rod-pulling assistance, which allows rods to be added and removed more quickly during deep drilling. According to the release, this is expected to allow the hole to advance more quickly than would otherwise be the case.

Gilt's current Inferred resource averages 3.22 g/t gold, compared with 1.35 g/t at Wenot. The deep hole is part of ongoing work to test the deposit's extension at depth, ahead of its inclusion in the upcoming Preliminary Economic Assessment.

Preliminary Economic Assessment Progresses Toward Completion Incorporating the Expanded Wenot and Gilt Resources

Independent consultant SLR Consulting (Canada) Ltd. continues to advance the updated Preliminary Economic Assessment, expected to be completed within six to eight weeks. The study will incorporate an expanded Wenot open pit and an underground mine plan for the Gilt Deposit, based on the resource estimate announced in April 2026.

Alongside the PEA, the Company is finalising the scope of an Environmental Impact Assessment with Guyana's Environmental Protection Agency. Results from metallurgical testing on 73 representative samples from the Wenot and Gilt deposits are also expected shortly.

The release states that all technical work streams, including environmental assessment, metallurgy, tailings, and mine planning, are being advanced to a standard aligned with pre-feasibility and feasibility-level study requirements.

Looking Ahead

Omai Gold has drilled 23,685 metres of its planned 50,000 metre 2026 program to date, with five rigs in operation. Completion of the updated Preliminary Economic Assessment, expected within six to eight weeks, will incorporate the expanded Wenot and Gilt resources. Results from the Gilt deep hole, ongoing metallurgical testing, and the Environmental Impact Assessment review are also expected in the coming months.

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