Omar Gold Project Ongoing Drill Program Expanding Deposit

TORONTO - Omai Gold Mines Corp. reported on its ongoing 2025 drill program, which is primarily focused on expanding the large Wenot deposit at the Omai Gold Project in Guyana. Assays are reported for four holes totaling 2,157m drilled, two of which were focused on Wenot and two were drilled on the Camp Zone approximately 1km west of Wenot along the same shear corridor.

Elaine Ellingham, President & CEO, said, "These new Wenot results provide strong additions to our 2025 drill program focused on resource expansion. Hole 101 alone intersected three separate standout intervals of gold mineralization - all of which effectively extend both the 2024 resource limits and the 2024 PEA pit shell. Given our recent discovery of much wider and higher grade zones such as the 4.48 g/t Au over 57.0m encountered in hole -092 (News Release January 21, 2025) and 4.57 g/t Au over 45.5m in hole -087 (News Release December 4, 2024), we are expanding the program to pursue potential strike and dip extensions of these zones that can be expected to have positive impact on the next resource estimate. We are increasing the current drill program from 10,000m to at least 15,000m, with potential for further expansion pending additional favourable results. Fortunately, we are well-funded with a cash position of approximately C$30million, following our financing completed in February. Drilling will pave the way to an updated Mineral Resource Estimate anticipated in Q2 2025, and an updated PEA planned for Q3 2025. We believe the potential for value creation through the drill bit continues to be strong."

The ongoing 2025 drill program at Wenot has 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 increase the shallow drilling at West Wenot, an area with known broad mineralized zones within the southern sedimentary rocks with potential as a starter pit.

As a result of our recent discovery of very wide and higher grade zones, an added objective is to test the potential strike and dip extensions of these exceptionally robust gold zones, that eclipse any previous mineralization identified at Wenot.