Omai Gold Appoints Petra Decher as Chief Financial Officer and Corporate Secretary

Rhea-AI Summary

Omai Gold Mines (TSXV: OMG) (OTCQB: OMGGF) has appointed Petra Decher as its new Chief Financial Officer and Corporate Secretary. Decher brings over 25 years of mining industry experience, with expertise in financial reporting, corporate governance, M&A, capital markets, compliance, and ESG. She previously served as CFO of Marimaca Copper Corp and held the position of Vice President, Finance and Assistant Secretary at Franco-Nevada Corporation. The company has granted Decher 900,000 stock options at $0.44/share with a five-year term.

Positive

• Appointment of experienced CFO with over 25 years in mining industry
• New CFO's strong background in financial reporting, M&A, and capital markets
• Previous experience as CFO of public companies and VP Finance at Franco-Nevada Corporation

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - May 1, 2025) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to announce the appointment of Ms. Petra Decher, CA, CPA as its Chief Financial Officer and Corporate Secretary, effective immediately.

Ms. Decher is a seasoned finance executive with over twenty-five years' experience in the mining industry. She has a deep understanding of financial reporting, corporate governance, M&A, capital markets, compliance and ESG. Ms. Decher has held the CFO position for several publicly-listed exploration/development and producing mining companies and has served as an independent board member, chairing Audit Committees, being the Lead Independent Director, and member of compensation committees. She most recently was the CFO of Marimaca Copper Corp. Prior to Marimaca, Ms. Decher was the Vice President, Finance and Assistant Secretary for Franco-Nevada Corporation. Ms. Decher is a Chartered Professional Accountant.

Elaine Ellingham, CEO, commented. "We are very pleased to welcome Petra to Omai Gold's team at a very exciting time. We will benefit from her wealth of financial management experience and her deep understanding of the mining industry. We would like to thank Donna McLean for stepping in to serve as interim CFO."

The Company has granted to Ms. Decher incentive stock options to purchase 900,000 common shares of the Company at an exercise price of $0.44/share pursuant to the Company's stock option plan. The options have a five-year term.

ABOUT OMAI GOLD

Omai Gold Mines Corp. holds a 100% interest in the Omai Prospecting License that includes the past-producing Omai Gold Mine in Guyana, and a 100% interest in the adjoining Eastern Flats Mining Permits. The Company announced a Preliminary Economic Assessment ("PEA")¹ on its Wenot Deposit at Omai in April 2024, showing an open pit operation to produce 1.84 million ounces of gold over a 13-year period, with an NPV_5% of US$556 million at a US$1,950/oz gold price. This baseline PEA incorporates only 45% of the property's MRE and management believes that with additional work the mine plan can be significantly expanded, the economics enhanced, and the open pit resources further increased. An updated NI 43-101 Mineral Resource Estimate ("MRE")¹ of 2.0 million ounces of gold (Indicated) and 2.3 million ounces (Inferred) reflects a notable increase as a result of 2023's successful drilling. Once South America's largest producing gold mine, Omai produced over 3.7 million ounces of gold between 1993 and 2005². Mining ceased at a time when the average gold price was less than US$400 per ounce. As a brownfields project, Omai benefits from good road access and a wealth of historical data that provides knowledge of the geology and gold mineralization on the Property, as well as metallurgy, historical processing recoveries and many other relevant mining parameters.

¹ NI43-101 Technical Report dated May 21, 2024 "UPDATED MINERAL RESOURCE ESTIMATE AND PRELIMINARY ECONOMIC ASSESSMENT OF THE OMAI GOLD PROPERTY, POTARO MINING DISTRICT NO.2, GUYANA" was prepared by Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc. is available on SEDAR+ and on the Company's website. It includes a Wenot resource of 834,000 indicated ounces of gold averaging 1.48 g/t Au and 1,614,000 inferred ounces of gold averaging 1.99 g/t Au, and the adjacent Gilt Creek resource of 1,151,000 indicated ounces of gold averaging 3.22 g/t Au and 665,000 inferred ounces of gold averaging 3.35 g/t Au.

² Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on SEDARplus.ca, including March 31, 2006 AIF and news release August 3, 2006.

For further information, please see our website www.omaigoldmines.com or contact:
Elaine Ellingham, P.Geo.
President & CEO
elaine@omaigoldmines.com
+1.416.473.5351

David Stewart, P.Eng.
VP Corporate Development & Investor Relations
dstewart@omaigoldmines.com
+1.647.294.8361

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the timing of completion of exploration, trenching and drill programs, and the potential for the Omai Gold Project to allow Omai to build significant gold Mineral Resources at attractive grades, and forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the price of gold and copper; and the results of current exploration. Further, the Mineral Resource data set out in the Omai Gold news release are estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Further, the Preliminary Economic Assessments and related data discussed in this news release are estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Omai Gold Mines Corp. to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to international operations; actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, copper and other minerals and metals; general market conditions; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; uncertainty of access to additional capital; delays in obtaining governmental approvals or in the completion of development or construction activities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250397

FAQ

Who is the new CFO of Omai Gold Mines (OMGGF)?

Petra Decher, CA, CPA has been appointed as the new Chief Financial Officer and Corporate Secretary of Omai Gold Mines, effective May 1, 2025.

What is Petra Decher's experience in the mining industry?

Petra Decher has over 25 years of experience in the mining industry, with expertise in financial reporting, corporate governance, M&A, capital markets, compliance, and ESG. She previously served as CFO of Marimaca Copper Corp and VP Finance at Franco-Nevada Corporation.

How many stock options were granted to OMGGF's new CFO?

Omai Gold Mines granted Petra Decher 900,000 incentive stock options at an exercise price of $0.44 per share with a five-year term.

Who did Petra Decher replace as CFO of Omai Gold Mines?

Petra Decher replaced Donna McLean, who had been serving as interim CFO of Omai Gold Mines.