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Omai Gold Drills 8.51 g/t Au over 9.3m (capped), 3.56 g/t Au over 21.8m, and 2.32 g/t Au over 19.8m in Resource Expansion Drill Program at Wenot

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Omai Gold Mines (OMGGF) announced significant drill results from its ongoing 2025 drill program at the Wenot deposit in Guyana. Key highlights include intersections of 8.51 g/t Au over 9.3m (capped), 3.56 g/t Au over 21.8m, and 2.32 g/t Au over 19.8m. The company has completed 20 holes totaling 13,700m, with results pending for 16 holes. The program is expected to exceed the planned 15,000m as mineralization continues to extend beyond known limits. An independent engineering firm has been engaged to update the NI 43-101 Mineral Resource Estimate, expected to take 2-3 months. The drilling program aims to expand the 2.5km long Wenot deposit, identify mineralization in undrilled areas, and extend known mineralization to depths of 400-450m. The company plans to include both the Wenot expansion and Gilt Creek underground deposit in an updated 2025 PEA mine plan.

Omai Gold Mines (OMGGF) ha annunciato risultati significativi dai carotaggi del programma di perforazione 2025 in corso presso il giacimento Wenot in Guyana. Tra i principali risultati si segnalano intersezioni di 8,51 g/t Au su 9,3 m (con limite massimo), 3,56 g/t Au su 21,8 m e 2,32 g/t Au su 19,8 m. La società ha completato 20 fori per un totale di 13.700 m, con risultati ancora in attesa per 16 fori. Il programma dovrebbe superare i 15.000 m previsti, poiché la mineralizzazione continua ad estendersi oltre i limiti conosciuti. È stata incaricata una società di ingegneria indipendente per aggiornare la stima delle risorse minerarie NI 43-101, con una tempistica stimata di 2-3 mesi. L'obiettivo del programma di perforazione è espandere il giacimento Wenot lungo 2,5 km, individuare mineralizzazioni in aree non ancora perforate ed estendere la mineralizzazione conosciuta fino a profondità di 400-450 m. La società prevede di includere sia l'espansione di Wenot sia il giacimento sotterraneo Gilt Creek nel piano minerario aggiornato 2025 PEA.
Omai Gold Mines (OMGGF) anunció resultados significativos de perforación en su programa continuo de 2025 en el depósito Wenot en Guyana. Los puntos destacados incluyen intersecciones de 8,51 g/t Au sobre 9,3 m (con límite), 3,56 g/t Au sobre 21,8 m y 2,32 g/t Au sobre 19,8 m. La compañía ha completado 20 perforaciones que suman 13.700 m, con resultados pendientes de 16 perforaciones. Se espera que el programa supere los 15.000 m planificados, ya que la mineralización continúa extendiéndose más allá de los límites conocidos. Se contrató una firma de ingeniería independiente para actualizar la estimación de recursos minerales NI 43-101, con un plazo estimado de 2-3 meses. El programa de perforación busca expandir el depósito Wenot de 2,5 km de longitud, identificar mineralización en áreas no perforadas y extender la mineralización conocida a profundidades de 400-450 m. La compañía planea incluir tanto la expansión de Wenot como el depósito subterráneo Gilt Creek en el plan minero actualizado PEA 2025.
Omai Gold Mines (OMGGF)는 가이아나 Wenot 광상에서 진행 중인 2025년 시추 프로그램의 중요한 시추 결과를 발표했습니다. 주요 하이라이트는 9.3m 구간에서 8.51 g/t Au (상한 적용), 21.8m 구간에서 3.56 g/t Au, 그리고 19.8m 구간에서 2.32 g/t Au의 교차입니다. 회사는 총 13,700m에 달하는 20개의 시추공을 완료했으며, 16개 시추공의 결과는 아직 대기 중입니다. 광물화가 알려진 한계를 넘어 계속 확장됨에 따라 시추 프로그램은 계획된 15,000m를 초과할 것으로 예상됩니다. 독립 엔지니어링 회사가 NI 43-101 광물 자원 추정치를 업데이트하기 위해 참여했으며, 이는 2-3개월이 소요될 예정입니다. 시추 프로그램의 목적은 2.5km 길이의 Wenot 광상을 확장하고, 시추되지 않은 지역에서 광물화를 확인하며, 알려진 광물화를 400-450m 깊이까지 확장하는 것입니다. 회사는 Wenot 확장과 Gilt Creek 지하 광상을 2025년 PEA 채굴 계획에 포함할 계획입니다.
Omai Gold Mines (OMGGF) a annoncé des résultats de forage significatifs dans le cadre de son programme de forage 2025 en cours sur le gisement Wenot en Guyane. Les points clés incluent des intersections de 8,51 g/t Au sur 9,3 m (avec plafonnement), 3,56 g/t Au sur 21,8 m et 2,32 g/t Au sur 19,8 m. La société a terminé 20 forages totalisant 13 700 m, avec des résultats en attente pour 16 forages. Le programme devrait dépasser les 15 000 m prévus, la minéralisation continuant de s'étendre au-delà des limites connues. Une société d'ingénierie indépendante a été engagée pour mettre à jour l'estimation des ressources minérales NI 43-101, ce qui devrait prendre 2 à 3 mois. Le programme de forage vise à étendre le gisement Wenot long de 2,5 km, à identifier la minéralisation dans des zones non forées et à prolonger la minéralisation connue jusqu'à des profondeurs de 400-450 m. La société prévoit d'inclure à la fois l'expansion de Wenot et le gisement souterrain de Gilt Creek dans le plan minier PEA mis à jour pour 2025.
Omai Gold Mines (OMGGF) hat bedeutende Bohrergebnisse aus seinem laufenden Bohrprogramm 2025 am Wenot-Lagerstätte in Guyana bekannt gegeben. Zu den wichtigsten Ergebnissen gehören Abschnitte mit 8,51 g/t Au über 9,3 m (gedeckelt), 3,56 g/t Au über 21,8 m und 2,32 g/t Au über 19,8 m. Das Unternehmen hat 20 Bohrlöcher mit insgesamt 13.700 m abgeschlossen, Ergebnisse für 16 Bohrlöcher stehen noch aus. Das Programm wird voraussichtlich die geplanten 15.000 m überschreiten, da sich die Mineralisierung über die bekannten Grenzen hinaus ausdehnt. Ein unabhängiges Ingenieurbüro wurde beauftragt, die NI 43-101 Mineralressourcenschätzung zu aktualisieren, was 2-3 Monate dauern soll. Ziel des Bohrprogramms ist es, die 2,5 km lange Wenot-Lagerstätte zu erweitern, Mineralisierung in bisher unbeforschten Bereichen zu identifizieren und die bekannte Mineralisierung auf Tiefen von 400-450 m auszudehnen. Das Unternehmen plant, sowohl die Erweiterung von Wenot als auch das unterirdische Gilt Creek-Lagerstätte in den aktualisierten 2025 PEA-Minenplan aufzunehmen.
Positive
  • Multiple high-grade gold intersections with significant widths discovered
  • Drilling program exceeding planned 15,000m due to positive results
  • Gold mineralization extends beyond 2024 Mineral Resource Estimate boundaries
  • Three drilling rigs operating simultaneously for rapid exploration
  • Updated NI 43-101 Resource Estimate and PEA planned for 2025
Negative
  • Delay in next NI 43-101 Mineral Resource Estimate by a couple of months
  • Resource estimate update will take 2-3 months to complete

Toronto, Ontario--(Newsfile Corp. - May 12, 2025) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to announce assay results from its ongoing 2025 drill program, focused on expanding the large Wenot deposit at the Company's 100%-owned Omai Gold Project in Guyana, South America. Assays are reported for three holes and one hole extension totaling 2,607m drilled. A total of 20 holes have been completed to date this year totalling 13,700m. The program is expected to surpass the planned 15,000m program as results continue to extend the known limits of the gold mineralization at Wenot. Results are pending for an additional 16 holes and drilling continues with three rigs (Figure 1). The Company has engaged an independent engineering firm to commence the updated NI 43-101 Mineral Resource Estimate which is expected to take 2-3 months to complete.

Highlights include:

  • Hole 25ODD-103 & 103W (Figure 2)

    • 3.56 g/t Au over 21.8m

    • 3.93 g/t Au over 7.0m

    • 5.66 g/t Au over 4.3m

  • Hole 25ODD-102

    • 28.04 g/t Au over 9.3m (8.51 g/t Au over 9.3m capped at 70 g/t Au)

      • including 252.36 g/t Au over 1.0m

    • 8.98 g/t Au over 5.0m

    • 3.36 g/t Au over 12.5m

    • 4.55 g/t Au over 7.0m

  • Hole 25ODD-105 & 105W

    • 2.32 g/t Au over 19.8m

  • Hole 24ODD-085EXT

    • 2.02 g/t Au over 18.7m

Elaine Ellingham, President & CEO, commented: "Today's results exemplify the continued resource expansion potential of our Wenot shear-hosted orogenic deposit. Wide intercepts of high-grade gold mineralization continue to extend the known limits of gold mineralization at Central, East, and West Wenot. Much of the gold mineralization identified by our 2025 drilling to date is outside of the 2024 Mineral Resource Estimate1 ("MRE") and well outside of the pit limits as defined within our 2024 Preliminary Economic Assessment1 ("PEA"). As such, management believes that these results will contribute to a significant expansion in the upcoming MRE update. Given the very positive results and rapid pace of drilling with three rigs, we anticipate surpassing the expanded 15,000m drill program. Although we have delayed this next (fourth) NI 43-101 MRE by a couple of months from our original plans, we believe that maximizing the Wenot resource will create more value for our shareholders. This drilling paves the way for a near-term updated MRE, that will form the basis for an updated PEA later in 2025.

We consider our 2024 PEA as a baseline as it was based on only 45% of the Omai Project's MRE. The adjacent intrusion-hosted Gilt Creek deposit also hosts a sizeable gold resource1. We completed an 1,148m drill hole at Gilt Creek at the end of 2024 (see News Release dated February 24, 2025) and intersected 774m of mineralized intrusion. The hole ended in mineralized intrusion with visible gold within 7m of the end of the hole. An additional hole at Gilt Creek is expected to start shortly to further test for potential expansion and to collect data for the upcoming PEA. Although not included in the baseline 2024 PEA, we plan to include the Gilt Creek underground deposit as well as an expanded Wenot deposit in the updated 2025 PEA mine plan."

The 2025 drill program at Wenot continues with the following objectives: 1) to identify further mineralization in some of the wide undrilled areas within the 2.5 km long strike of the Wenot deposit, particularly within the under-explored southern sedimentary rock sequence, 2) to extend the known mineralization in the multiple subparallel gold zones down to the 400m to 450m level, which management believes is a reasonable depth for a potential large-scale open pit operation, and 3) to test for near surface extensions of the broad mineralized zones discovered within the southern sedimentary rocks at West Wenot, in an area with potential as a starter pit. With the discovery late last year of particularly wide and higher-grade zones, a further objective of the 2025 drilling is to step out to test for potential strike and dip extensions of these exceptionally robust gold zones. The current results are showing success on this objective. Once the work on the updated MRE is underway, the Company plans to continue drilling to further extend the Wenot deposit, to complete a second deep hole on the Gilt Creek deposit, and to refine and drill certain exploration targets with known gold mineralization.

Hole 25ODD-103 & -103W (Figure 2) was drilled from the north side of East Wenot approximately 350m from the eastern limit of the historically mined pit and was targeting the flanks of the northern wall of the 2024 MRE1 pit shell and extensions at depth below the MRE. Hole 103 successfully intersected multiple zones of gold mineralization within the main gold horizons. The headline interval of 3.56 g/t Au over 21.8m was intersected within the most prolific historically mined zone, known as the "Dike Corridor". Other notable intercepts within this Dike Corridor included 1.42 g/t Au over 10.6m, 1.84 g/t Au over 8.5m, and 2.0 g/t Au over 6.0m. The Dike Corridor is one of five dominant subparallel, near-vertical gold zones that comprise the large 2.5km long Wenot deposit. Lying within the broader Wenot Shear, the roughly 100-200m wide Dike Corridor is typically 25-100m north of the central volcanic-sedimentary contact, that itself hosts gold mineralization within a persistent quartz feldspar porphyry unit. The Dike Corridor is comprised of a series of felsic and diorite dikes that intruded into the volcanic sequence and were later subjected to varying degrees of shearing, alteration and stockworks of quartz veining. Hole 25ODD-103 continued on to intersect 0.85 g/t Au over 17.6m within the central quartz feldspar porphyry ("QFP") at the main contact at a vertical depth of approximately 470m.

Hole 103 was wedged at a depth of 309m and was drilled a further 375m at a shallower angle for an ultimate depth of 677.5m (Figure 2). This was targeting a shallower cut of the mineralized zones above those intersected in Hole 103. Hole 25ODD-103W successfully intersected 2.57 g/t Au over 7.5m, 1.35 g/t Au over 6.0m, and 3.93 g/t Au over 7.0m, with each of these containing multiple occurrences of visible gold.

Hole 25ODD-102 was drilled from the north in Central Wenot, targeting approximately 50m east of the very wide mineralized zone of 4.57 g/t Au over 45.5m in hole 25ODD-087. It also tests approximately 100m down-dip from hole 21ODD-001 that intersected multiple high‐grade and thick intervals including 2.2 g/t Au over 19.5m (in the volcanics), 3.6 g/t Au over 13.5m (in the Dike Corridor), and 9.0 g/t Au over 16.0m (at the contact QFP). (see News Release dated April 21, 2021). Hole 102 intersected a very high-grade interval of 28.04 g/t Au over 9.3m within the Dike Corridor, which included a 1.0m sub-interval grading 252.36 g/t Au (Figure 3) at 362m down hole. If capped at 70 g/t Au, the 9.3m interval grade is 8.51 g/t Au. Hole 102 also intersected a high-grade interval of 3.36 g/t Au over 12.5m approximately 115m deeper than the corresponding interval of 3.60 g/t Au over 13.5m in Hole 001, within the Dike Corridor. Similarly, the interval of 4.55 g/t Au over 7.0m in Hole 102 is approximately 120m deeper than the corresponding interval of 9.0 g/t Au over 16.0m in Hole 001 within the contact QFP.

Hole 25ODD-085EXT is a 150m extension of hole 24ODD-085 drilled in 2024 (see News Release dated December 4, 2024). Hole 24ODD-085 was drilled from the north side of Central Wenot and was stopped as planned at 563m and successfully intersected depth extensions of multiple gold zones within the Dike Corridor, including an impressive 68.7m wide zone averaging 3.16 g/t Au (including 6.65 g/t over 29.9m). The goal of the extension was to test the contact QFP and adjacent protomylonite zones that are typically among the best mineralized zones at Wenot. This extension successfully intersected 2.02 g/t Au over 18.7m at the contact QFP, at a vertical depth of approximately 430m. This is over 100m below the 2024 resource and over 200m below the 2024 PEA pit shell in that area. This intersection is approximately 125m below the closest QFP intercept of 2.16 g/t Au over 18.4m in hole 21ODD-002, and 225m below an intercept of 1.99 g/t Au over 31.0m.

Hole 25ODD-105 & -105W was drilled at West Wenot, at an azimuth towards the southeast. The hole was drilled to test the depth potential in this area, roughly 300m west of the past producing pit and in an area with potential as a large starter pit. The hole targeted a very robust area of mineralization within the sediments that appears coincident with a magnetic low seen in the airborne geophysics. Geological and recent structural modelling suggests a zone of enrichment around a series of subtle NNE trending structures. Although the very dominant and persistent shearing and mineralization at Wenot is east-west, old blast hole data from the shallow and limited historic pit plus our drill data suggest zones of enrichment along the east-west zones that may correspond to these subtle cross-cutting structures. Significant mineralization has been intersected within the sediments on the southern side of the main contact at West Wenot, including a 31.1m interval of 4.07 g/t Au in hole 23ODD-063. Hole -105 was drilled to test across one of these potential NNE structures and was drilled to an ultimate depth of 581, after it was wedged at 250m to correct the azimuth. Hole 25ODD-105W successfully intersected the target, encountering 2.32 g/t Au over 19.8m, over 50m below the 2024 MRE pit shell and approximately 200m below the 2024 PEA pit shell in that area. It confirmed enriched mineralization along a NNE structure and also extended the known gold mineralization deeper in this "starter pit" area.

Table 1. Recent Drill Results*

DDHFrom
(m)		To
(m)		Interval
(m)		Grade
(g/t Au)		Gold Zone
24ODD-085EXT** 590.0 591.8 1.8 0.94 Dike Corridor
598.6 604.0 5.4 0.44 Dike Corridor
634.5 653.2 18.7 2.02 Central QFP Complex
703.4 706.1 2.8 2.12 Sediments
25ODD-102

 93.5 99.5 6.0 0.68 Volcanics
198.5 209.5 11.0 1.52 Volcanics
242.0 249.0 7.0 0.51 Volcanics
257.0 258.5 1.5 1.20 Volcanics
280.0 285.0 5.0 8.98 Volcanics
326.5 330.5 4.0 0.39 Dike Corridor
342.5 344.0 1.5 4.76 Dike Corridor
361.2 370.5 9.3 28.04*** Dike Corridor
including362.0363.0
1.0
252.36
Dike Corridor
  391.5 404.0 12.5 1.03 Dike Corridor
458.0 459.5 1.5 1.15 Dike Corridor
463.5 476.0 12.5 3.36 Dike Corridor
576.5 583.5 7.0 4.55 Central QFP Complex
588.0 589.5 1.5 1.16 Central QFP Complex
605.0 612.5 7.5 1.19 Sediments
629.0 635.2 6.2 1.11 Sediments
667.5 669.6 2.1 3.68 Sediments
25ODD-103 333.0 334.5 1.5 1.40 Dike Corridor
382.5 385.0 2.5 3.48 Dike Corridor
406.0 412.0 6.0 2.00 Dike Corridor
438.5 442.5 4.0 2.14 Dike Corridor
447.0 457.6 10.6 1.42 Dike Corridor
475.8 479.0 3.2 3.09 Dike Corridor
524.2 546.0 21.8 3.56 Dike Corridor
552.0 559.5 7.5 0.38 Dike Corridor
570.0 576.0 6.0 0.34 Dike Corridor
597.0 605.5 8.5 1.84 Dike Corridor
638.8 656.4 17.6 0.85 Central QFP Complex
25ODD-103W** 334.5 336.0 1.5 1.61 Dike Corridor
385.0 386.5 1.5 4.15 Dike Corridor
400.0 407.5 7.5 2.57 Dike Corridor
423.3 425.2 1.9 1.19 Dike Corridor
432.5 434.4 1.9 1.80 Dike Corridor
443.0 449.0 6.0 1.35 Dike Corridor
481.0 484.0 3.0 0.72 Dike Corridor
499.0 506.0 7.0 3.93 Dike Corridor
560.0 564.3 4.3 5.66 Dike Corridor
601.0 605.5 4.5 0.56 Central QFP Complex
614.5 616.0 1.5 2.51 Sediments
670.0 677.5 7.5 0.32 Sediments
25ODD-105 156.1 159.0 2.9 1.19 Volcanics
262.5 263.5 1.0 7.25 Central QFP Complex
297.0 300.9 3.9 0.54 Sediments
340.0 342.0 2.0 1.50 Sediments
25ODD-105W** 370.9 372.0 1.1 3.26 Sediments
387.0 388.0 1.0 13.21 Sediments
407.3 408.6 1.3 1.54 Sediments
414.5 416.0 1.5 1.15 Sediments
447.0 466.8 19.8 2.32 Sediments
565.5 566.7 1.2 1.67 Sediments

 
*True widths vary as mineralization at Wenot is generally hosted within stockwork vein systems with alteration halos, with an estimated true width range of 70-90%. Cut-off grade 0.30 g/t Au with maximum 3.0m internal dilution is applied. Grades are uncapped unless otherwise noted.

** For wedges (W) and hole extensions (EXT), the From and To numbers indicate down hole lengths from original hole collar.

*** Uncapped. Capping at 70g/t Au will result in a 9.3m interval of 8.51 g/t Au.
 

Cannot view this image? Visit: https://images.newsfilecorp.com/files/8712/251672_52abe6355461f9b2_001.jpg

Figure 1. Wenot Plan Map Showing Drill Hole Locations

To view an enhanced version of this graphic, please visit:
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Figure 2. Cross-section for Hole 25ODD-103 & -103W

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Figure 3. Visible gold from Hole 25ODD-102 at a depth of 362m, 1.0m interval reported 252.36 g/t Au.

To view an enhanced version of this graphic, please visit:
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Table 2. Drill Hole Coordinates

Hole IDAzimuth
(degrees)		Inclination
(degrees)		EastingNorthingDepth
(m)		Status
25ODD-085EXT173-56305159601619713.0Reporting
25ODD-102176-53305529601886699.6Reporting
25ODD-103176-53305681601854692.0Reporting
25ODD-103W180-53305691601675599.0Reporting
25ODD-105115-55304077601757359.0Reporting
25ODD-105W124-53304203601686581.0Reporting
25ODD-104356-53305384601273599.0 Pending
25ODD-106354-53.0305639601231369.4Pending
25ODD-106W357-52.5305619601391312.7Pending
25ODD-107176-53.0304967601996710.0Pending
25ODD-108178-53.0304534601953646.7Pending
25ODD-109170-53.0304498601772308.0Pending
25ODD-109W169-52.8304510601392300.5Pending
25ODD-110176-53.0305836601819704.0Pending
25ODD-111176-54.0305231601928656.0Pending
25ODD-112175-54.0305578601831643.7Pending
25ODD-113110-48.0304265601657484.3Pending
25ODD-114A176-57.0304796602029313.0Pending
25ODD-114176-57.0304790602030700.0Pending
25ODD-115A355-53.0305427601247105.0Pending
25ODD-115355-52.0305429601248106.5Pending
25ODD-116356-50.0304487601468571.6Pending
25ODD-117176-50.0305429601849646.0Pending
25ODD-118176-53.0305928601800541.0Drilling
25ODD-119175-54.0305028601981356.0Drilling
25ODD-120176-54.030518260206749.5Drilling

 
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.
 

Quality Control

Omai maintains an internal QA/QC program to ensure sampling and analysis of all exploration work is conducted in accordance with best practices. Certified reference materials, blanks and duplicates are entered at regular intervals. Samples are sealed in plastic bags.

Drill core samples (halved-core) were shipped to ActLabs, a certified laboratory in Georgetown Guyana, respecting the best chain of custody practices. At the laboratory, samples are dried, crushed up to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm, including cleaner sand. Fifty grams of pulverized material is then fire assayed by atomic absorption spectrophotometry (AA). Initial assays with results above 3.0 ppm gold are re-assayed using a gravimetric finish. For samples with visible gold two separate 500g or 1000g pulverized samples are prepared, with 50 grams of each fire assayed by atomic absorption spectrophotometry, with assays above 3.0 ppm gold being re-assayed using a gravimetric finish. Certified reference materials and blanks meet with QA/QC specifications.

Qualified Person

Elaine Ellingham is a Qualified Person (QP) under National Instrument 43-101 "Standards of Disclosure for Mineral Projects" and has approved the technical information contained in this news release. Ms. Ellingham is not considered to be independent for the purposes of National Instrument 43-101.

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 NPV5% 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.

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/251672

FAQ

What are the latest drill results from Omai Gold's OMGGF Wenot deposit?

Key intersections include 8.51 g/t Au over 9.3m (capped), 3.56 g/t Au over 21.8m, and 2.32 g/t Au over 19.8m from the 2025 drill program.

How many drill holes has OMGGF completed in its 2025 program?

The company has completed 20 holes totaling 13,700m, with results pending for 16 holes and drilling continuing with three rigs.

When will Omai Gold (OMGGF) release its updated resource estimate?

The updated NI 43-101 Mineral Resource Estimate is expected to take 2-3 months to complete, with an independent engineering firm engaged for the work.

What are the expansion plans for OMGGF's Wenot deposit?

The company aims to expand the 2.5km long Wenot deposit by identifying mineralization in undrilled areas and extending known mineralization to depths of 400-450m.

How will the new drill results impact OMGGF's upcoming PEA?

The company plans to include both the expanded Wenot deposit and Gilt Creek underground deposit in an updated 2025 PEA mine plan, potentially increasing the project's scope beyond the 2024 baseline PEA.
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Omai Gold Mines

OTC:OMGGF

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OMGGF Latest News

May 7, 2025
Gold's Return to $3,400 Spurs Sector Gains Amid $4,000 Forecasts
May 1, 2025
Omai Gold Appoints Petra Decher as Chief Financial Officer and Corporate Secretary
Mar 27, 2025
Omai Gold Drills 10.40 g/t Au over 10.5m (capped), 2.13 g/t Au over 48.5m, and 3.83 g/t Au over 18.8m at Wenot
Mar 10, 2025
Omai Gold Grants Incentive Stock Options
Mar 5, 2025
Omai Gold Drills 5.21 g/t Au over 19.3m at Wenot, Including 11.44 g/t Au over 4.6m and 11.75 g/t Au over 3.6m

OMGGF Stock Data

158.95M
600.70M
1.5%
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