Ongoing Drill Program At The Omai Gold Project

TORONTO – Omai Gold Mines Corp. reported on the ongoing 2025 drill program on its Omai Gold Project in Guyana, South America. Assays are reported for 6 drill holes on the Wenot deposit totaling 3,782m. A total of 43 drill holes have been drilled to date this year, totalling 23,500m. Two drills commenced testing earlier stage gold targets while the recently released updated Mineral Resource Estimate was being prepared. The third drill continues on the deep hole 25ODD-122, testing the blue sky potential at depth below the Wenot deposit. It has reached a downhole depth of 1860m, encountering the targeted Wenot shear structural corridor at 1598m downhole, at a vertical depth approximately 1100 m below surface and 605 m below the deepest known parts of the Wenot deposit. A fourth rig commenced drilling last week on the eastern end of Wenot.
Elaine Ellingham, CEO and Executive Chairman, said, “We are very pleased with our recently announced, significantly increased, updated Mineral Resource Estimate (MRE). New drill results from Wenot, were completed at the end of the resource drilling program, but assays were received after the cutoff date for the the MRE. These results will contribute to the updated Preliminary Economic Assessment (PEA), expected in early Q1/26.
While the MRE was being prepared, we redeployed two of the drills to exploration targets to assess the potential for new near-surface satellite deposits. One drill focused on the Camp Zone, located approximately 500m west of the current limits of the Wenot deposit, along the projected strike of the regional shear structure. Five holes have been completed in this area and assays are pending. A second drill focused on the Blueberry Hill trend that extends 500m northeast towards the northern edge of the old Gilt Creek pit. Historical drill results and a number of trenches have intersected high gold grades. Although structurally complex, these zones have the potential to add higher grade mill feed early in the mine life, potentially improving project economics. Six (6) holes have been completed and once assay results are received we will plan further drilling along this trend.
The long hole 25ODD-122 continues albeit slowly and is now at a downhole depth of 1860m. This hole is designed to explore the deep blue sky potential of the Wenot deposit, approximately 600m below its known limits. The Wenot shear-hosted orogenic gold deposit consists of a series of near-vertical gold zones within a broad almost 400m wide shear corridor that extends at least 2.5km along strike. Given the strike length and width of the Wenot deposit, should this deposit continue to greater depths and at economic grades, it could significantly increase the potential size and ultimate mine life of the Omai project. Hole 122 commenced north of the Gilt Creek deposit and intersected the gold mineralized Gilt Creek intrusion from 405m to 1079m (674m) downhole then continued to the south. The hole encountered the Wenot shear corridor at 1598 m downhole and has continued within the shear for the last 267 meters. Drilling has progressed very slowly due to the significant length and shallow dip of the hole. Regardless, we are very satisfied, particularly since we have identified the wide shear corridor at depth. Sampling has just commenced on the lower zone. Samples from the upper part of hole 122, through the Gilt Creek deposit, are being analysed using Metallic Screening, recommended due to the presence of coarse gold as is typical of the Gilt Creek deposit. Historical production from the upper portion of Gilt Creek deposit saw over 30% recovery from the gravity circuit. Assays are pending for the upper part of the hole and sampling of the lower part awaits completion of drilling.
A fourth drill arrived at the property and has commenced drilling at the eastern end of Wenot, focused at testing the limits of the deposit in this area. The two other drills are testing from the south side of Wenot. The current drilling at Wenot is focused on optimizing the resource for the upcoming PEA by drilling large gaps within the deposit in order to reduce the strip ratio. These holes and are also expected to further expand the resource. As these holes continue drilling to the north, they will increase the drilling density in the Central quartz-feldspar porphyry zone (CQFP) and northern Dike Corridor which is expected to upgrade some of the large Inferred Resource to Indicated. These holes at Wenot are designed for multiple purposes to further advance the Omai project.
Work is underway on an updated PEA and we will provide an update on progress and milestones in an upcoming news release.”