Omai Gold Files NI 43-101 Technical Report Supporting an Updated Mineral Resource Estimate on Its Omai Gold Property in Guyana
Omai Gold Files NI 43-101 Technical Report
Supporting an Updated Mineral Resource
Estimate on Its Omai Gold Property in Guyana
Toronto, Ontario--(Newsfile Corp. - October 9, 2025) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB:
OMGGF) ("Omai Gold" or the "Company") announces that a National Instrument 43-101 Technical
Report dated October 9, 2025 (the "Report") has been filed on the SEDAR+ website
www.sedarplus.ca
in support of the updated Mineral Resource Estimate ("MRE") announced August 25, 2025 on its 100%-
owned Omai Gold Property in Guyana. The MRE includes an expansion to the Wenot Deposit and
incorporates the previously disclosed Gilt Creek Deposit. Most significantly, for the Wenot Mineral
Resource Estimate ("MRE"), the Inferred MRE increased 130% to 3,717,000 oz grading 1.82 g/t Au,
contained in 63.4 million tonnes ("Mt"), and the Indicated MRE increased 16% to 970,000 oz grading
1.46 g/t Au, contained in 20.7 Mt. The Report was prepared under the supervision of Eugene Puritch,
P.Eng., FEC, CET of P&E Mining Consultants Inc., who is independent of the Company and a Qualified
Person in accordance with NI 43-101.
The Omai Property hosts two orogenic gold deposits: the shear-hosted Wenot Deposit and the adjacent
intrusive-hosted Gilt Creek Deposit. On August 25, 2025, the Company issued a news release
announcing the update combined MRE (over the February 2024 MRE) with the following
highlights
:
2,121,000 ounces of gold (Indicated MRE), a 7% increase, averaging 2.07 g/t Au in 31.9Mt
and
4,382,000 ounces of gold (Inferred MRE), a 92% increase, averaging 1.95 g/t Au in 69.6Mt
Wenot Deposit
(a constrained pit and underground approach is applied)
970,000 oz of gold in 20.7Mt (Indicated), a 16% increase in ounces over the Feb 2024 MRE
3,717,000 oz of gold in 63.4Mt (Inferred), a 130% increase in ounces
1.46 g/t Au grade of Indicated MRE, a 1.4% decrease*
1.82 g/t Au grade of Inferred MRE, an 8.5% decrease*
*Increased gold price assumption to $2,500/oz from $1,850/oz allowed cutoff lower to 0.30 g/t Au
from 0.35 g/t Au, resulting in lower average grades however increased ounces
~60% above 350m depth from surface
~30% of Wenot MRE is west of the historical open pit, an area considered to be well suited to
initial mining
Expansion potential is evident along a minimum 2.5 km length of the host Wenot shear corridor,
including within, adjacent to, below, and along strike
Gilt Creek Deposit
(an underground mining approach is applied)
1,151,000 ounces of gold (Indicated) averaging 3.22 g/t Au, in 11.1Mt (Feb 2024 MRE)
665,000 ounces of gold (Inferred) averaging 3.35 g/t Au, in 6.2Mt (Feb 2024 MRE)
Hosted within a 500m by 300m quartz diorite intrusive "Omai stock" that produced 2.4 million
ounces of gold (1993 to 2005) from the upper 250m
Located 500m north of the Wenot Deposit and below the past-producing Fennel open pit
Characterized by very wide sub-horizontal zones of gold mineralization
Open to depth and holds demonstrated potential for lateral expansion
Full details are presented in the Report filed on SEDAR+ and the Company's website
https://omaigoldmines.com/site/assets/files/5486/2025_omg_wenot_umre_tech_report_final_20251009.pdf
Qualified Persons
Elaine Ellingham, M.Sc., P.Geo. and Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining
Consultants Inc., both Qualified Persons (QPs) under National Instrument 43-101 "Standards of
Disclosure for Mineral Projects", have 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. The
Mineral Resource Estimate, including verification of the data, was under the supervision of Mr. Puritch,
who is independent for the purposes of National Instrument 43-101.
About Omai Gold Mines Corp.
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 a Preliminary Economic Assessment ("PEA"), 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. More recently, 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 2005
2
, 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.
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" by P&E Mining
Consultants Inc. is available on SEDAR+ and on the Company's website.
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.
For further information, please see our website
www.omaigoldmines.com
or contact:
Elaine Ellingham, P.Geo.
President & CEO
+1.416.473.5351
Jason Brewster
VP Operations
+1.416.618.2178
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.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the
TSX-V) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/269897