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Omai Gold Drills 17.36 g/t Au over 7.5m (capped), 2.64 g/t Au over 41.8m and 3.49 g/t Au over 17.4m in Resource Expansion Program at Wenot

Toronto, Ontario--(Newsfile Corp. - July 29, 2025) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to announce additional 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 6 holes totaling 3,760 m drilled (Table 1). A total of 37 holes have been drilled to date this year, totalling 20,500m, having surpassed the original planned 15,000m program. Drilling continues to extend the known limits of gold mineralization at Wenot (Figure 1). Results are pending for an additional 8 holes. The long hole 25ODD-122, drilling across the Gilt Creek deposit, continues and is expected to test approximately 600m below the adjacent Wenot deposit.

Highlights include:

• Hole 25ODD-119 (Figure 2)
  • 31.70 g/t Au over 7.5m (17.36 g/t Au over 7.5m capped at 70 g/t Au)
    • including 141.74 g/t Au over 1.5m
  • 1.61 g/t Au over 36.4m
    • including 3.26 g/t Au over 3.8m
  • 3.89 g/t Au over 13.2m
    • including 6.02 g/t Au over 2.5m
• Hole 25ODD-124 (Figure 3)
  • 1.76 g/t Au over 20.5m
    • including 5.46 g/t Au over 3.5m
  • 5.67 g/t Au over 4.5m
• Hole 25ODD-124W (Figure 3)
  • 2.64 g/t Au over 41.8m
    • including 9.25 g/t Au over 4.5m
  • 3.49 g/t Au over 17.4m
    • including 6.31 g/t Au over 7.4m
  • 5.66 g/t Au over 7.5m
• Hole 25ODD-121
  • 9.85 g/t Au over 2.9m
  • 13.74 g/t Au over 3.5m
  • 11.26 g/t Au over 2.0m
  • 2.64 g/t Au over 12.4m
• Hole 25ODD-120
  • 1.66 g/t Au over 37.8m
  • 2.74 g/t Au over 9.4m
  • 0.96 g/t Au over 17.2m
• Hole 25ODD-118
  • 3.10 g/t Au over 14.5m
  • 9.81 g/t Au over 2.5m

Elaine Ellingham, President & CEO, commented: "Today's news marks another excellent batch of drill results from the resource expansion drill program at Wenot. Highlights in hole 25ODD-119 alone include 31.70 g/t Au over 7.5m (17.36 g/t Au capped), 1.61 g/t Au over 36.4m, and 3.89 g/t Au over 13.2m. These drill results again exemplify the multiple zones we have at Wenot, with each hole testing multiple gold zones across the wide Wenot shear corridor. The Wenot shear corridor reaches widths of 350-400m in the central portion and extends at least 2.5km along strike. We are confident that the limits of the Wenot mineralization are still open for further expansion. With the very successful drilling over the past 18 months, we believe it is in the best interest of our shareholders to update the Mineral Resource Estimate. Our Wenot mantra over the past year has been simple: "How Big Is It?". The 2024-25 Wenot resource expansion drill program has now exceeded 33,000m and the updated Mineral Resource Estimate is underway. Focused additional drilling at Wenot will continue in support of the updated Preliminary Economic Assessment that is expected 3 to 4 months following the updated MRE.

Drilling is now shifting towards earlier-stage gold targets both along strike at Wenot and on certain near-surface zones where gold has already been identified. One drill has been mobilized to our Blueberry Hill target area and a second to the Camp Zone. The objective is to identify and quantify near-surface economic satellite deposits that could contribute to early mining. Concurrently, our exciting hole 25ODD-122, targeting both the Gilt Creek deposit and the Wenot depth potential, continues to progress well, and recently passed the 1,550m downhole mark (see News Release May 23, 2025). Drilling has been slow but steady."

Details on the currently reported holes are as follows:

Hole 25ODD-119 (Figure 2) was drilled from the north side of Wenot approximately 50m west of holes 24ODD-092 and 25ODD-101, both of which intersected broad zones of high-grade gold mineralization within the most prolific historically-mined zone known as the "Dike Corridor". Within the Dike Corridor, Hole 25ODD-119 intersected nine gold zones, the best ones being 3.57 g/t Au over 5.4m, 3.89 g/t Au over 13.2m (including 21.9 g/t Au over 1.2m) and 31.70 g/t Au over 7.5m (which includes 141.74 g/t Au over 1.5m). These zones were intersected at a vertical depth of approximately 280m and extend to a depth of 380m, however older shallower holes show similarly impressive grades and widths within this Dike Corridor. The correlation and extent of these multiple gold zones is best illustrated in Figure 2. The interval assaying 31.7 g/t Au over 7.5m corresponds well to 50m up-dip interval of 3.83 g/t Au over 18.8m in hole 25ODD-101 and the 50m down-dip interval of 4.48 g/t Au over 57.0m in hole 24ODD-092.

Also significant, Hole 119 continued on to intersect 1.61 g/t Au over 36.3m (including 4.60 g/t Au over 3.0m) in the central quartz feldspar porphyry dike "CQFP" at a vertical depth of approximately 450m. This CQFP was emplaced along the contact between the volcanic rocks on the north and the sedimentary sequence of rocks to the south. This mineralized QFP corresponds well with the 50m up-dip interval of 2.13 g/t Au over 48.5m (including 10.34 g/t Au over 3.3m) in hole 25ODD-101. All-in-all, hole 119 was spectacular and together with neighbouring holes -092 and -101 show the very significant potential of Wenot to host wide, high-grade zones within the larger resource. Important to note that all of these intervals are below the 2024 MRE pit shell and can be expected to contribute to the upcoming MRE.

Hole 25ODD-124 (Figure 3) was drilled from the south side of Central Wenot across from Hole 25ODD-111 recently drilled from the north, and between holes 25ODD-120 & 121 drilled from the north and also reported in this release. Hole 124 targeted the Dike Corridor in an area 200m below the 2024 MRE and PEA pit shell. It intersected 5.67 g/t Au over 4.5m in the very persistent Southern Porphyry Dike (SPOR), a unit that can be traced the full strike essentially marking the southern extent of the main Wenot Shear Corridor. Often hosting visible gold, this is a particularly high-grade example of this zone. The SPOR occurs within the sedimentary sequence, approximately 100m south of the main contact. The CQFP was not sampled in this hole, due to the proximity of the wedged hole 124W. Hole 104 then was sampled through the Dike Corridor where it intersected 1.76 g/t Au over 20.5m, 0.54 g/t Au over 12.0m, and 0.70 g/t Au over 9.9m.

Hole 25ODD-124 was wedged at 350m downhole in order to drill an up-dip gap area approximately 50-75m from the impressive 68.7m interval grading 3.16 g/t Au from hole 24ODD-085. The wedged Hole -124W went on to intersect the CQFP which assayed 3.49 g/t Au over 17.4m, including 6.31 g/t Au over 7.4m. Further downhole, in the Dike Corridor, the hole intersected 5.66 g/t Au over 7.5m and 2.64 g/t Au over 41.8m, including 9.25 g/t Au over 4.5m, and 0.76 g/t Au over 15.5m, starting at a vertical depth of 375m from surface and approximately 100m below the 2024 PEA pit shell. The nearby Hole 124 intersected equivalent zones within the Dike Corridor, including 1.76 g/t Au over 20.5m.

Hole 25ODD-120 was drilled from the north side of Central Wenot designed to test the Dike Corridor at depth below hole 24ODD-085. The hole was not intended to extend to the central QFP zone that was already tested to a depth of 465m where it assayed 2.02 g/t Au over 18.7m. In 2024, Hole -085 intersected 3.16 g/t Au over 68.7m, including 6.65 g/t Au over 29.9m within the Dike Corridor (News Release dated December 4, 2024). Hole -120 was to test 50m below those intervals. It intersected at least 6 intervals of gold mineralization within the Dike Corridor and although a 68m interval was not intersected, the downdip extension did intersect 2.74 g/t Au over 9.4m, 9.29 g/t Au over 1.7m, 1.26 g/t Au over 11.0m, and 1.66 g/t Au over 37.8m. These intervals represent a cumulative 59.9m of gold mineralization (not continuous) within the Dike Corridor, approximately 150m below the 2024 PEA pit shell. The hole also intersected 0.96 g/t Au over 17.2m in the northern extreme of the Dike Corridor, within the volcanics.

Hole 25ODD-121 was drilled from the north side of Central Wenot behind hole 21ODD-025 and between recently drilled holes 24ODD-091 (50m to the east) and 25ODD-111 (50m to the west). Hole 25ODD-121 intersected several intervals of gold mineralization approximately 100m below Hole 21ODD-025, including 9.85 g/t Au over 2.9m and 13.74 g/t Au over 3.5m,11.26 g/t Au over 2.0m and other minor zones. Hole 121 then intersected 2.64 g/t Au over 12.4m at the CQFP at a vertical depth of 400m from surface, approximately 150m below the 2024 PEA pit shell. Further downhole, 3.30 g/t Au over 5.3m was intersected within the southern sediments.

Hole 25ODD-118 was drilled about ½ km east from the above holes, from the north side towards the eastern end of Wenot, in an area less drilled. It targeted 100-200m down-dip from the 2024 MRE and PEA pit shell. At a relatively shallow vertical depth of approximately 200m, Hole 25ODD-118 intersected 1.23 g/t Au over 10.5m within the volcanics to the north that could be the extension of one of the known splays. Within the Dike Corridor, wide diorite dikes were encountered with several narrow felsic dikes. Only minor gold zones were intersected in the Dike Corridor in this hole, but included 2.61 g/t Au over 2.6m and 1.73 g/t Au over 4.0m. Further downhole, the CQFP hosted various intervals of gold mineralization including 0.55 g/t Au over 6.0m and 1.43 g/t Au over 6.0m. In the southern sedimentary sequence, the hole intersected 3.10 g/t Au over 14.5m, 5.2 g/t Au over 2.4m and then bottomed in 9.81 g/t Au over 2.5m, at a vertical depth of approximately 450m.

Table 1. Recent Wenot Drill Results*

*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. 
**A maximum 5.0m internal dilution is applied. Grades are uncapped unless otherwise noted.

Figure 1. Omai Plan Map Showing Drill Hole Locations 

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Figure 2. Cross-section for Hole 25ODD-119

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Figure 3. Cross-section for Holes 25ODD-120 and 25ODD-124/124W

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Table 2. Drill Hole Coordinates

¹NI 43-101 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 within 17.6 million tonnes and 1,614,000 inferred ounces of gold averaging 1.99 g/t Au within 25.2 million tonnes, and the adjacent Gilt Creek resource of 1,151,000 indicated ounces of gold averaging 3.22 g/t Au within 11.1 million tonnes and 665,000 inferred ounces of gold averaging 3.35 g/t Au within 6.2 million tonnes.

² Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on , 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 and some batches to MSALABS, both certified laboratories 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 250g or 500g 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. is a Canadian gold exploration and development company focused on rapidly expanding the two orogenic gold deposits at its 100%-owned Omai Gold Project in mining-friendly Guyana, South America. The Company has established the Omai Gold Project as one of the fastest growing and well-endowed gold camps in the prolific Guiana Shield greenstone belt. In February 2024 the Company announced an updated NI 43-101 Mineral Resource Estimate¹ ("MRE") of 29 million tonnes grading 2.15 g/t Au and containing 2.0 million ounces of gold (Indicated) and 31 million tonnes grading 2.26 g/t Au and containing 2.3 million ounces (Inferred), comprised of both the Wenot open pit deposit and the adjacent Gilt Creek underground deposit. This was followed by an initial baseline Preliminary Economic Assessment ("PEA") in April 2024, which contemplated an open pit-only development scenario and included only 45% of the Omai Gold Project MRE. Subsequent to the 2024 MRE, the Company has been aggressively drilling to expand gold resources at the Wenot deposit and has identified additional wide zones of high-grade gold mineralization.

In 2025 Omai Gold plans to continue its impactful drill programs, announce an updated and expanded MRE, and complete an updated PEA which would include an expanded Wenot open pit deposit and an underground mining scenario at Gilt Creek. The Omai Gold Mine produced over 3.7 million ounces of gold from 1993 to 2005², ceasing operations when gold was below US$400 per ounce. The Omai site benefits from much existing infrastructure and will soon be connected to the two largest cities in Guyana, Georgetown and Linden, via paved road.

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.

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