Omai Gold's Deep Hole Intersects 2.57 g/t Au over 8.6m and 5.12 g/t Au over 3.6m, 700m Below Wenot Gold Deposit

Omai Gold Mines Corp. (TSXV: OMG,OTC:OMGGF) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to announce assay results from the deep drill hole (25ODD-122W) testing the depth potential of the Wenot Gold Deposit at its 100% owned Omai Gold Project in Guyana, South America. The hole intersected multiple gold zones within the down dip extension of the Wenot Shear Corridor at a depth of approximately 700m below the known Wenot deposit. The Wenot Shear Corridor hosts the large Wenot gold deposit that has been identified to a maximum depth of 530m. The upper part of hole 122W intersected 699m of the Gilt Creek deposit, then continued and encountered the Wenot Shear Corridor at approximately 1,739m downhole with the shearing continuing until the end of the hole at 2,014m. Seven discrete gold zones were intersected within broader lower-grade envelopes. The last zone downhole, returning 2.19 gt Au over 7.9m (including 3.61 gt Au over 4.4m), ended at 2,009.8m, less than five metres from the end of the hole. The hole ended still within the Wenot Shear Corridor but could not continue due to excessive flattening. The final depth reached exceeded expectations, but it is likely that the shear zone continues further.

Highlights from Lower Part of Hole 25ODD-122W, includes multiple gold zones:
(intersections below are between 1,785.0m to 2,009.8m downhole (see Table 1), or at a vertical depth from surface of between 1,220m and 1,280m)

• 2.57 g/t Au over 8.6m

• 5.12 g/t Au over 3.6m

• 2.19 g/t Au over 7.9m, including 3.61 g/t Au over 4.4m

• 3.34 g/t Au over 4.5m

• 1.80 g/t Au over 5.5m

• 1.23 g/t Au over 4.6m

• 2.07 g/t Au over 3.3m

Elaine Ellingham, President & CEO, commented, "These are very significant results. This single deep hole not only proved that the prominent Wenot Shear Corridor that hosts the large Wenot deposit continues at depth, but that it also hosts multiple gold zones. This "proof of concept" sheds a new light on the ultimate size potential of the Wenot deposit. This apparent down dip extension of the Wenot gold deposit is at least 700m below the previously deepest-known mineralization at Wenot. Although it will not be integrated into a near-term resource estimate, it suggests a doubling of the scale of the overall size potential of Wenot. Multiple gold zones were intersected across at least 220m north to south and these could similarly have significant strike length considering the 2.5 km length of the Wenot Deposit. We believe that the current Mineral Resource Estimate that includes both the Wenot and Gilt Creek gold deposits (see News Release August 25, 2025), can support a significant mine life, and this discovery 700m below the known Wenot deposit suggests potential for a much longer mine life."

"Demonstrating that the Wenot Shear extends this far to depth is a great win. Encountering these multiple gold zones is hitting a home run or in Guyanese terms we've 'hit a six'…..and we did not reach the southern limit of the highly prospective Wenot Shear Corridor."

Deep Hole 25ODD-122W

Hole 25ODD-122 was designed to test across the Gilt Creek deposit and to continue southward to test the Wenot deposit at a significant depth below the known deposit. The hole was wedged at 299m downhole due to early deviation and then continued as 25ODD-122W. Drilling continued to a downhole depth of 2,014m, where it ended due to excessive flattening to -11 degrees. It was successful in identifying the depth extension of the Wenot Shear Corridor approximately 1,250m below surface or approximately 700m below the deepest known intersections of the Wenot gold deposit. The assay results show that it hosts multiple gold zones, similar to the upper part of Wenot.

Hole 122 was collared in the volcanics north of the Gilt Creek deposit and intersected the known diabase dike from 298.9m to 364.9m downhole, then drilled through a hornblende porphyry followed by a 699m interval of Omai quartz-diorite intrusive stock that hosts most of the Gilt Creek gold mineralization. Since there is significant known mineralization and visible gold within the Gilt Creek deposit, the drill core is being assayed using metallic screening that is a longer process with these results expected shortly. At 1,079m, the drilling re-emerged from the quartz diorite intrusion into the surrounding mafic volcanic sequence. Several narrow gold intercepts and minor sheared horizons were intersected within the volcanics that lie between the Gilt Creek and Wenot deposits.

The Wenot Shear Corridor was first encountered around 1,740m downhole. Within the Wenot Shear Corridor, sheared and variably altered mafic volcanics were encountered north of the central contact with the sedimentary rocks to the south. The volcanics host a few narrow rhyolite dikes and diorite dikes with two main mineralized zones (1.23 g/t Au over 4.6m and 2.07 g/t over 3.3m). The central quartz-feldspar porphyry dike (CQFP) was intersected from 1,839.6 to 1,850.0m downhole and is associated with intense shearing on either side. The CQFP is a later dike that persistently occupies the contact between the volcanic rocks on the north and the sedimentary rocks to the south. It is variably silicified and sericitized with approximately 2% pyrite. Several points of visible gold were recorded. The best interval within the CQFP assayed 1.80 g/t Au over 5.5m.

In the lower part of Hole 122W, the best gold zones occur within the southern sedimentary sequence and these extend from the CQFP at 1,850m through to within 5m of the end of the hole. The best zones in the sediments (using a 0.5 g/t Au cutoff) include 5.12 g/t Au over 3.6m, 3.34 g/t Au over 4.5m, 2.57 g/t over 8.6m and near the end of the hole 2.19 g/t Au over 7.9m that included 3.61 g/t Au over 4.4m.

Due to the increased depth, a 0.5 g/t Au cutoff was used to calculate assay composites, with a maximum internal dilution of 3m. However, if an increased width of internal dilution is applied, selected intervals returned grades of 0.74 g/t Au over 47.0 m and 1.16 g/t Au 20.4m in the southern sedimentary rocks. These wide intervals illustrate the extent of gold mineralization within the Omai gold system.

This hole also confirms that the Wenot shear and the central contact dip almost vertically, with an estimated 85° dip to the north.

Results for the upper part of hole 25ODD-122W await assays being done by metallic screening which are taking longer to complete.

Table 1. Summary of Drill Results for Hole 25ODD-122W Below 1,750m Downhole*

*True widths vary as mineralization at Wenot is generally hosted within stockwork vein systems, with an estimated true width range of 70-80%. Cut-off grade of 0.50 g/t Au with maximum 3.0m-5.0m internal dilution applied. Grades are uncapped unless otherwise noted.

Figure 1. Plan Map Showing Location of Hole 25ODD-122W

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8712/274128_73dd97a7f49809d5_001full.jpg

Figure 2. Cross-Section of Hole 25ODD-122W

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8712/274128_73dd97a7f49809d5_002full.jpg

Figure 3. Cross Section and Assay Results for Lower Part of Hole 25ODD-122W

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8712/274128_73dd97a7f49809d5_003full.jpg

Figure 4. Illustrating Wenot Shear Corridor and Hole 25ODD-122 Gold Zones Relative to the Upper Wenot Deposit

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8712/274128_73dd97a7f49809d5_004full.jpg

Table 2. Drill Hole Coordinates

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 Act Labs 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 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, P.Geo., 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 a director and officer of the Company and 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. In August 2025, the Company announced a 96% increase to the Wenot Gold Deposit NI 43-101 Mineral Resource Estimate¹ (MRE) to 970,000 ounces of gold (Indicated) averaging 1.46 g/t Au, contained in 20.7 Mt and 3,717,000 ounces of gold (Inferred MRE) averaging 1.82 g/t Au, contained in 63.4 Mt. This brings the global MRE at Omai, including the Wenot and adjacent Gilt Creek deposits, to 2,121,000 ounces of gold (Indicated MRE) averaging 2.07 g/t Au in 31.9 Mt and 4,382,000 ounces of gold (Inferred MRE) averaging 1.95 g/t Au in 69.9 Mt. A baseline PEA announced in April 2024, contemplated an open pit-only development scenario and included less than 30% of the new Mineral Resource Estimate for Omai. Five drills are currently active on the property: at Wenot the focus is to optimize the upcoming PEA, to further test the limits of the deposit, including both east and west, and to commence upgrading the large Inferred MRE to Indicated. Additional drilling will continue to explore certain known gold occurrences for possible near-surface higher-grade satellite deposits. An updated PEA is planned for H1 2026 to include the expanded Wenot open pit deposit and the adjacent Gilt Creek underground deposit. 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 significantly benefits from existing infrastructure and is connected to the two largest cities in Guyana, Georgetown and Linden.

¹ NI 43-101 Technical Report dated October 9, 2025 titled "UPDATED MINERAL RESOURCE ESTIMATE AND TECHNICAL REPORT ON THE OMAI GOLD PROPERTY, POTARO MINING DISTRICT NO.2, GUYANA" was prepared by P&E Mining Consultants Inc. and is available on www.sedarplus.ca and on the Company's website.

² Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on www.sedarplus.ca, including March 31, 2006 AIF and news release August 3, 2006.

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 the drill program, 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 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 process 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.

Cautionary Note Regarding Mineral Resource Estimates

Until mineral deposits are actually mined and processed, Mineral Resources must be considered as estimates only. Mineral Resource Estimates that are not Mineral Reserves have not demonstrated economic viability. The estimation of Mineral Resources is inherently uncertain, involves subjective judgement about many relevant factors and may be materially affected by, among other things, environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant risks, uncertainties, contingencies and other factors described in the Company's public disclosure available on SEDAR+ at www.sedarplus.ca. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration. The accuracy of any Mineral Resource Estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource Estimates may have to be re-estimated based on, among other things: (i) fluctuations in mineral prices; (ii) results of drilling, and development; (iii) results of future test mining and other testing; (iv) metallurgical testing and other studies; (v) results of geological and structural modeling including block model design; (vi) proposed mining operations, including dilution; (vii) the evaluation of future mine plans subsequent to the date of any estimates; and (viii) the possible failure to receive required permits, licenses and other approvals. It cannot be assumed that all or any part of a "Inferred" or "Indicated" Mineral Resource Estimate will ever be upgraded to a higher category. The Mineral Resource Estimates disclosed in this news release were reported using Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (the "CIM Standards") in accordance with National Instrument 43-101- Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101").

Cautionary Statements to U.S. Readers

This news release uses the terms "Mineral Resource", "Indicated Mineral Resource" and "Inferred Mineral Resource" as defined in the CIM Standards in accordance with NI 43-101. While these terms are recognized and required by the Canadian Securities Administrators in accordance with Canadian securities laws, they may not be recognized by the United States Securities and Exchange Commission. The "Mineral Resource" Estimates and related information in this news release may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274128