Omai Gold Mines Drills 3.08 g/t Au over 25.8m, 6.84 g/t Au over 9.5m, and 1.52 g/t Au over 37.5m at Wenot Deposit; Provides Update on Deep Hole Beneath Wenot Deposit

Toronto, Ontario--(Newsfile Corp. - September 24, 2025) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to announce additional assay results from the ongoing 2025 drill program on its 100% owned Omai Gold Project in Guyana, South America. Assays are reported for 6 drill holes on the Wenot deposit totaling 3,782m (Table 1). 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.

Highlights* from the recent Wenot holes include:

• Hole 25ODD-127
  • 3.08 g/t Au over 25.8m
    • Including 17.06 g/t Au over 3.1m
  • 1.52 g/t Au over 37.5m
  • 7.33 g/t Au over 1.5m

• Hole 25ODD-125
  • 6.84 g/t Au over 9.5m
    • Including 27.51g/t Au over 1.2m
  • 9.80 g/t Au over 1.5m

• Hole 25ODD-126
  • 1.31 g/t Au over 39.5m
  • 2.08 g/t Au over 18.0m
    • Including 9.68 g/t Au over 1.5m
  • 5.39 g/t Au over 3.4m
  • 1.33 g/t Au over 8.9m
  • 5.04 g/t Au over 3.0m

• Hole 25ODD-117
  • 10.16 g/t Au over 2.6m
  • 1.98 g/t Au over 7.5m
  • 4.53 g/t Au over 2.4m

Elaine Ellingham, CEO and Executive Chairman commented, "We are very pleased with our recently announced, significantly increased, updated Mineral Resource Estimate ("MRE"). The NI 43-101 Report will be filed on SEDAR+ in the next couple of weeks. Today's 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."

The reported drill holes are all from the Wenot deposit, each investigating extensions of specific gold-bearing zones:

Hole 25ODD-114 was drilled from the north side of Wenot, between holes 23ODD-071 and 24ODD-077. It targeted the down dip extension of the broad mineralization intersected in Hole 071 which intersected 2.26 g/t Au over 70.0m (including 4.6 g/t Au over 19.2m) (News Release dated October 23, 2023). This wide zone is within the CQFP and extends far into the sediments. Hole 114 tested 100-150m below these intervals. At least 5 intervals of gold mineralization were intersected within the Dike Corridor, including 2.33 g/t Au over 3m and 6.3 g/t Au over 1.5m. The best intercepts below the broad zone included 1.35 g/t Au over 9.4m and 0.70 g/t Au over 5.6m, mostly within the CQFP. No significant mineralization was encountered in the sedimentary sequence.

Hole 25ODD-117 was drilled from the north side of Wenot, approximately 35m west of Hole 24ODD-096, testing zones intersected in Holes 104 (2.04 g/t Au over 8.9m in the dike corridor) and in Hole 096 (0.98 g/t Au over 26.2m in the CQFP and 1.31 g/t Au over 22m in the dike corridor). Hole 117 intersected nine mineralized zones, including 0.49 g/t Au over 7.5m, and 1.73 g/t Au over 2.1m, within the diorite dikes in the volcanics, and 1.20 g/t Au over 5.8m, 4.53 g/t Au over 2.4m, within the main Dike Corridor. Within the CQFP a number of zones were intersected including 1.98 g/t Au over 7.5m, 1.41 g/t Au over 4.5m, 0.54 g/t Au over 16.5m, and 10.16 g/t Au over 2.6m. Further downhole, 0.98 g/t Au over 4.50 m was intersected within the southern sediments.

Hole 25ODD-125, drilled at West Wenot, testing deep between holes 22ODD-039 and 24ODD-086, and targeting the down-dip extension of the mineralization intersected in Hole 086 which included 2.96 g/t Au over 19.4m. Hole 125 intersected multiple zones including: 9.8 g/t Au over 1.5m within the volcanics, four notable intercepts within the prolific Dike Corridor, including 6.84 g/t Au over 9.5m, 1.72 g/t Au over 3.4m, 3.80 g/t Au over 1.5m, and 4.7g/t Au over 1.2m, correlating to the same zone assaying 2.96 g/t Au over 19.4m in hole 086. Narrow zones of gold mineralization were also intersected within the sediments that includes 0.48 g/t Au over 3.8m and 0.40g/t Au over 8.8m and within the Southern QFP, 3.10g/t Au over 1.0m.

Hole 25ODD-126 was drilled from north side of Wenot, approximately 50m east of 25ODD-108. Hole 126 targeted the down-dip extension of zones identified in 21ODD-020 and 24ODD-088, which included 1.28 g/t Au over 25.7m in the CQFP (hole 020) and 1.46 g/t Au over 9m in the sediments (hole 088). Three gold zones were intersected within the Dike Corridor including 1.37 g/t Au over 2.5m, 1.33 g/t Au over 8.9m, and 5.39 g/t Au over 3.4m. At the CQFP 2.08 g/t Au over 18.0m was intersected. Significant mineralization was intersected within the southern sediments, including a 39.5m interval of 1.31 g/t Au. Further downhole, a diorite dike intruding the sediments assayed 5.04 g/t Au over 3.0m.

Hole 25ODD-127 was a very successful hole, drilled from the south side of Wenot, collared 100m southeast of 24ODD-076 (see Figure 2). The primary objective was to test the down dip extension of the mineralized zones previously intersected in 25ODD-099 (3.58 g/t Au over 7m in the dike corridor) and the corresponding 2.12 g/t Au over 12m intersected in 21ODD-014. As it was drilled from the south, hole 127 first intersected the southern QFP, containing 0.87g/t Au over 3.6m, followed by multiple zones of mineralization within the sediments including 0.9 g/t Au over 3.0m, 2.09 g/t Au over 3.0m, 0.79 g/t Au over 5.8m, 6.85 g/t Au over 1.0m, 0.63 g/t Au over 5.8m, and 7.33 g/t Au over 1.5m. A wide mineralized zone of 1.52 g/t Au over 37.5m was then intersected within the sediments that persisted until the central contact complex which, as typical, consisted of a protomylonite zone and the Central QFP. Another wide intercept of 3.08g/t Au over 25.8m was encountered within the main Dike Corridor.

Hole 25ODD-128 was drilled from the north side of Wenot, beside 23ODD-063, but in different orientation (105^o azimuth). This hole was to follow up on an impressive new mineralized zone first identified in 25ODD-116 (2.63 g/t Au over 27.5m) (News Release dated May 29, 2025), however due to surface ground restrictions it was drilled from a less than optimal location. Nonetheless, it intersected the same zone, but at a very oblique angle, assaying 1.18 g/t Au over 7.5m. This zone is hosted within diorite dikes intruding the volcanic sequence. Drilling is planned to test for further extensions of this new northwest zone, located on the edge of the known Wenot deposit. Little to no drilling has been done alone strike in this area.

Figure 1. Plan Map of Geology and Drill Hole Locations 

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 was applied. Grades are uncapped unless otherwise noted.

Figure 2. Cross-Section DDH 25ODD-127

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. (An updated MRE was announced in a news release dated August 25, 2025 and the NI 43-101 Technical Report will be filed shortly)

² Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on SEDARplus.ca, 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"), followed by the announcement of an initial baseline Preliminary Economic Assessment ("PEA"), both reported in an NI 43-101 Report filed in April 2024, available on www.sedarplus.ca. The 2024 PEA contemplated an open pit-only development scenario and included only 45% of the Omai Gold Project MRE. The Company announced an updated, significantly increased Mineral Resource Estimate on August 25, 2025 and is commencing the preparation of an updated PEA that is expected in early 2026. Four 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 upgrade some of the large Inferred Resource to Indicated. Additional drilling will explore certain known gold occurrences for possible near surface higher-grade satellite deposits.

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 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 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.com. 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.