Omai Announces Grant of Stock Options to a New Officer and Consultants

Omai Gold Mines Corp. (TSX.V: OMG) announces that, pursuant to its management transition, it has granted 1,650,000 incentive stock options to a new officer, employee and consultants. The incentive stock options have an exercise price of $0.13 per share for a five-year term expiring September 3, 2026.

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.

About Omai Gold Mines Corp.

Omai Gold Mines Corp., through its wholly owned subsidiary Avalon Gold Exploration Inc., holds a 100% interest in the Omai Prospecting License covering 4,590 acres, that includes the past producing Omai gold mine. Once South America's largest producing gold mine, Omai produced over 3.7 million ounces of gold between 1993 and 2005. Mining ceased at a time when the average gold price was less than US$400 per ounce, leaving significant drilled resources untapped. The Company's short-term priorities are to verify and expand the known resources, while advancing exploration on nearby targets, providing a solid opportunity to create significant value for all stakeholders.

For further information, please see our website www.omaigoldmines.com or contact:

Elaine Ellingham
Interim CEO and Director
info@omaigoldmines.com
elaine@omaigoldmines.com
Phone: +1-416 473-5351


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Omai Gold Mines

Omai Gold Mines

Overview

Base and precious metals mining make up a significant portion of Guyana’s economy. The country’s mineral heritage not only includes high-quality copper, iron and nickel occurrences but well-known deposits of gold, bauxite and diamonds. Leveraging Guyana’s pro-mining government and the country’s stable Mining Act, resource companies operating in the country could offer investors significant returns.

Omai Gold Mines’ Company Highlights

  • Omai Gold Mines is a mineral exploration company focused on developing the highly prospective high-grade Omai gold mine in Guyana. This asset was once Guyana’s largest gold mine, producing 3.7 million ounces of gold from 1992 to 2006.
  • The company currently has 100 percent interest in Omai, which was granted by Guyana’s government. This grant offers fast-tracked development and drilling potential.
  • The Omai asset includes two open pits: the main Fennell pit and the Wenot pit. Omai Gold Mines expects to engage in productive exploration and advance drilling campaigns starting in 2021.
  • Omai Gold Mines is also owns the high-quality Grenfell property in the Kirkland Lake region of Ontario, Canada. The limited exploration history poses exciting gold discovery possibilities for the company.
  • The company presently has just under 200 million shares issued, and strategic shareholders that include Silvercorp Metals at 15.1 percent, Sandstorm Gold Royalties at 9.9 percent and Gold Spot Discoveries at 3 percent.
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