Omai Gold Increases Indicated Mineral Resources to 2.5 Moz Au at 2.04 g/t Au (38.1 Mt) and Inferred to 5.5 Moz Au at 1.59 g/t Au (106.6 Mt) with Expansion of Wenot and Gilt Deposits
TSX.V: OMG | OTC: OMGGF
Omai Gold Increases Indicated Mineral Resources to
2.5 Moz Au at 2.04 g/t Au (38.1 Mt) and Inferred to 5.5 Moz Au at 1.59 g/t Au (106.6 Mt) with
Expansion of Wenot and Gilt Deposits
Toronto, Ontario – (April 14, 2026) – Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF)
(“Omai Gold” or the “ Company”) is pleased to announce an updated Mineral Resource Estimate
(“MRE”) on its 100% -owned Omai Gold Property in Guyana. The MRE includes expansions to both
the Wenot Deposit and Gilt Deposit. Most significantly, the Wenot Indicated MRE increased 49.8% to
1,453,000 ounces (“oz”) of gold with an average grade of 1.59 g/t Au, contained in 28.4 million tonnes
(“Mt”) and the Wenot Inferred MRE increased 7.6% to 3,999,000 oz grading 1.35 g/t Au, contained in
92.4 Mt. Similarly, the adjacent Gilt Deposit saw an overall increase in ounces over the previous MRE.
Gilt’s Inferred MRE increased 120% to 1,465,000 oz averaging 3.22 g/t Au (in 14.2 Mt), while the
Indicated MRE decreased by 9.5% to 1,042,000 oz averaging 3.33 g/t Au (in 9.7 Mt).
HIGHLIGHTS:
The Omai Gold Property hosts two orogenic gold deposits: the shear-hosted Wenot Deposit and the
adjacent, intrusion-hosted Gilt Deposit (Figure 1), with a combined updated MRE (over the August
2025 MRE) of:
• 2,495,000 ounces of gold (Indicated MRE), a 17.6% increase, averaging 2.04 g/t Au in 38.1 Mt
and
• 5,465,000 ounces of gold (Inferred MRE), a 24.7% increase, averaging 1.59 g/t Au in 106.6 Mt
Wenot Deposit (a constrained pit approach with minor underground is applied)
• 1,453,000 oz of gold in 28.4 Mt (Indicated), a 49.8% increase in ounces (+483,000 oz) over
the August 2025 MRE1
• 3,999,000 oz of gold in 92.4 Mt (Inferred), a 7.6% increase in ounces (+282,000 oz)
• 1.59 g/t Au grade of Indicated MRE, an 8.9% increase (from 1.46 g/t Au)
• 1.35 g/t Au grade of Inferred MRE, a 25.8% decrease (from 1.82 g/t Au)
• Increased gold price assumption to $3,0 00/oz from $2,500/oz at the same cut -off of 0.30 g/t
Au
Gilt Deposit (an underground mining approach is applied)
• 1,042,000 oz of gold (Indicated) averaging 3.33 g/t Au, in 9.7 Mt, a 9.5% decrease in ounces
(-109,000) over the August 2025 MRE
• 1,465,000 oz of gold (Inferred) averaging 3.22 g/t Au, in 14.2 Mt, a 120.3% increase in ounces
(+800,000 oz)
• 3.33 g/t Au grade of Indicated MRE, a 3.4% increase (from 3.22 g/t Au)
• 3.22 g/t Au grade of Inferred MRE, a 3.9% decrease (from 3.35 g/t Au)
• Increased gold price assumption to $3,000/oz from $2,500/oz and increased cut-off to 1.7 g/t
Au from 1.5 g/t Au
O MG.V - OMGGF: OTCQB News Release 2026/4/14
Elaine Ellingham, President & CEO commented, “We are pleased to be delivering yet another very
substantial increase to the Mineral Resource Estimate for our Omai Gold Project in Guyana. This
reinforces Omai’s position as the largest gold project in Guyana. Omai ’s unique road access and
location just ten kilometres from Guyana’s main road that connects to the two largest towns in Guyana
and to northern Brazil, will continue to simplify logistics as the project advances. Omai’s legacy
benefits include an on- site airstrip, a cleared site, known metallurgical recoveries, and established
tailings sites. In addition to these unique advantages for developing a large- scale gold deposit ,
Guyana is proving to be a favourable jurisdiction for permitting with Government and communit ies’
support for large-scale mine development.
This, our 5 th Mineral Resource Estimate, again reinforces the potential for large -scale mine re-
development at Omai. The Omai team’s dedication has continued to deliver superior value creation
for all stakeholders. With each successive milestone it becomes even clearer that Omai has the
potential to be a multi-decade large-scale gold mining operation.
Notwithstanding this large gold Mineral Resource Estimate, we still see very significant potential to
further expand the gold mineralization at both the Wenot and the Gilt Deposits. Both are open to depth
and the deep hole drilled under Wenot in 2025 (25ODD-122W) established the presence of the Wenot
shear (hosting 7 gold zones) a full 700 m below the known Wenot deposit.
A 50,000 m drill program has commenced with five drills turning. Our next major catalyst is the
Preliminary Economic Assessment (”PEA”), expected to be completed in 2 to 3 months. We are
continuing to aggressively drill to increase the Mineral Resources and to upgrade the Inferred
Resources, as we set our sights on a future Prefeasibility or Feasibility Study. Drilling is now focused
on the Wenot deposit and on certain nearby targets.”
Figure 1. Cross-Section of Wenot Shear-Hosted Gold Deposit and Gilt Intrusion-Hosted Deposit
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Figure 2. Plan Map of Omai Project showing Gold Mineralized Zones for Wenot and Gilt Deposits
Table 1. Omai Mineral Resource Estimate – April 7, 2026
Notes to Accompany the April 2026 Mineral Resource Estimate:
1. The effective date of this Mineral Resource is April 7, 2026.
2. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM), Standards on Mineral Resources and Reserves Definitions (2014) and Best Practices
Guidelines (2019).
3. Rock density averages 2.69 t/m3 for Wenot and 2.92 t/m3 for Gilt.
O MG.V - OMGGF: OTCQB News Release 2026/4/14
4. Open pit resources have been constrained to a conceptual pit shell using Whittle software and underground
blocks were constrained by an underground shape optimizer using Deswik (DSO) software.
5. A gold price of US$3,000/oz was used.
6. Process gold recoveries for Wenot are assumed to be 90% for Alluvium/Saprolite and 92% for
Transition/Fresh Rock and for Gilt are assumed to be 92%.
7. Open pit operating costs were assumed to be $2.40/t for soft rock material mining, $3.00/t for fresh rock
mining, $8.93/t for Alluvium/Saprolite processing, and $14.62/t for Fresh Rock processing. A cost of $3.25/t
was used for G&A. All costs are assumed to be US$.
8. Mineral Resources are reported at cut-off grades of 0.20 g/t Au for soft rock, 0.30 g/t Au for hard rock within
the open pit, and 1.70 g/t Au for underground shapes.
9. The Wenot pit assumed an overall slope angles of 30° for soft rock and 50° for the fresh rock. Wenot
resources assume the recovery of a crown pillar below the pit shell.
10. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
11. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
12. Numbers have been rounded to the nearest thousand tonnes and ounces. Differences in totals may occur
due to rounding.
13. The cut-off date of the supporting geological database is March 12, 2026.
14. The Wenot Mineral Resource Estimate incorporates 24,484 composites from 699 diamond drill holes
totalling 36,133 m of core within the mineralized wireframes. The Gilt Mineral Resource Estimate
incorporates 6,125 composites from 50 diamond drill holes, totalling 6,091 m of core within the mineralized
wireframes.
15. Composite gold grades were assessed separately for Wenot and Gilt and were capped at values between
11.5 g/t and 40 g/t gold.
16. Grade interpolation methods were Ordinary Kriging for Wenot and Inverse Distance Cubed (ID3) for Gilt.
17. Rock density was applied using average values of lithological units based on 209 measurements of Wenot
drill core and 190 measurements of Gilt drill core.
18. The Mineral Resource has been classified in the Indicated and Inferred categories, using reference drilling
spacing of 40-70 m for Indicated and up to 100 m of extrapolation distance for Inferred.
19. Mr. Alan J. San Martin, P.Eng. from SLR Consulting (Canada) Ltd., is the Qualified Person (QP) for this
Mineral Resource Estimate.
Table 2. Comparison between Wenot April 2026 MRE and August 2025 MRE
Table 3. Comparison between Gilt April 2026 MRE and August 2025 MRE
O MG.V - OMGGF: OTCQB News Release 2026/4/14
Wenot Deposit – Mineral Resource Estimate
Wenot is an orogenic gold deposit, consisting of a series of near -vertical zones within a broad 300 -
400 m wide shear corridor. The shear corridor straddles the east-west contact between a sequence
of volcanic rocks to the north and sedimentary rocks to the south. The contact itself is persistently
occupied by a quartz feldspar porphyry, which is typically well mineralized. A series of felsic and dioritic
dikes occupy a shear zone within the volcanic sequence. These dikes are variably altered, often host
quartz vein stockworks and are often well mineralized. Multiple gold zones occur across the Wenot
shear corridor, including in the southern sedimentary sequence.
This updated Mineral Resource Estimate provides a further expansion of the Wenot gold deposit. The
Indicated MRE increased to 1.45 million ounces (“Moz”) and the Inferred MRE increased to 4.0 Moz.
Previous drilling, plus the additional 31 diamond drill holes totalling 15,004 metres since the August
2025 MRE, supported a comprehensive refinement of the geological model and the gold mineralized
zones which were then used to build the wireframes and block model for this MRE. This was an
important step as it now forms the basis for an optimized mine plan for the upcoming Preliminary
Economic Assessment.
One objective of the 2024-2025 drilling at Wenot was to commence the conversion of the large Inferred
MRE to the Indicated category. The recent drilling successfully added 483,000 ounces to bring
Wenot’s Indicated MRE to 1.45 million ounces, representing a 49% increase. Grade also increased
8.9% to 1.59 g/t Au. The Wenot Indicated MRE now stands at 1,453,000 ounces at an average grade
of 1.59 g/t Au in 28.4 Mt. Increased drilling density of the higher grade and often very wide gold zones
discovered within the “Dike Corridor” and within the central Quartz Feldspar Porphyry -hosted gold
zone (CQFP) was the main contributor to the increases in both the Indicated ounces and the average
gold grade, mostly through the conversion of Inferred ounces.
The Inferred MRE for Wenot increased by 7.4% to 3,999,000 ounces. An estimated 483,000 ounces
were upgraded from the Inferred MRE category to the Indicated category. Additions to the Inferred
MRE are from several areas along the 2.5 km strike of the Wenot deposit, including additions at the
west end of the deposit and also along the southern side of the deposit within the sedimentary
sequence, an area that was more of a focus during the recent drilling programs. The average grade
of the Inferred MRE of 1.35 g/t Au represents a 25.8% decrease in grade. This results mostly from the
conversion of higher grade Inferred ounces from the 2025 MRE into the Indicated category (mostly
from the Dike Corridor and CQFP), and the addition of lower grade Inferred MRE ounces coming from
extensions at the west end of the deposit and within the sediment-hosted zones on the southern side
of Wenot.
The impact of cut -off grade on the Wenot Mineral Resource Estimate size and grades is shown in
Figure 3 below, with selective data provided in Table 4. Additional sensitivity data for Wenot is provided
in Table 6. The cut-off grade for Wenot was maintained at 0.30 g/t Au, consistent with the 2025 MRE,
despite a significantly higher spot gold price. A higher gold price assumes that a lower gold grade can
normally be economically extracted and processed. The gold price assumption for the current MRE is
$3,000/oz versus $2,500/oz for the August 2025 MRE. Figure 3 shows that even at a higher cut-off
grade of 0.5 g/t Au, the number of ounces in the Indicated MRE is reduced only slightly to 1.37 Moz,
but is at a higher average grade of 1.88 g/t Au. Further, the Inferred MRE at the same higher cut -off
gives 3.6 Moz at a higher grade of 1.62 g/t Au. The overall impact of raising the cut-off from 0.3 g/t Au
(the base case) to 0.5 g/t Au is less than a 6% reduction in the number of ounces in the overall MRE;
however, the grade of the Indicated MRE increases by 14.6% and the grade of the Inferred MRE
increases by 20%.
O MG.V - OMGGF: OTCQB News Release 2026/4/14
Table 4. Sensitivity of Wenot MRE to Cut-Off Grade
Figure 3. Chart Illustrating Impact of Cut-Off Grade on Size and Grade of Wenot MRE
Gilt Deposit – Mineral Resource Estimate
Gilt is an orogenic gold deposit hosted predominantly within a 500 m by 300 m quartz diorite intrusion
known as the “Omai Stock”. The mineralized zones extend into the surrounding volcanic sequence
as evidenced by the detailed drilling in the upper part of the deposit that was previously mined. The
upper 250 m of the deposit produced 2.4 million ounces of gold (1993- 2005). The Gilt deposit is
located approximately 500 m north of the Wenot gold deposit. Gilt is an underground deposit, likely to
be accessed by a ramp from surface, with its shallowest point relatively shallow at a depth of 275 m.
Gilt has been drilled to a maximum depth of 960 m and is open at depth.
O MG.V - OMGGF: OTCQB News Release 2026/4/14
This updated Mineral Resource Estimate for the Gilt deposit includes t wo additional deep holes
(24ODD-095 and 25ODD-122) that were drilled across the deposit in 2024 and 2025 . These post -
date the MRE last completed for Gilt in 2022. In each of the two new holes, over 700 m of the intrusion
was intersected with evidence that mineralization extends into the adjacent volcanic rocks. Similar to
Wenot, a comprehensive re finement of the geological model and the gold mineralized zones was
completed, integrating the new drilling data. This was then used to build the wireframes and block
model for this updated Gilt MRE, which will form the basis for the upcoming PEA.
By utilizing a 1 g/t Au cutoff, t he new resource model was able to establish 26 separate gold
mineralized zones, up from the previous model with 11 mineralized zones for Gilt. This reduced the
width of the zones to better confine the above- cut-off mineralization and reduce waste within the
zones, which is expected to provide better mining continuity for the upcoming mine plan.
This updated study shows an overall increase to the Gilt MRE. Most of this impact was in the Inferred
category that increased 120.3% or by 800,000 ounces, with grades decreasing by 3.9% to 3.22 g/t Au
from 3.35 g/t Au. The increase in the Inferred MRE resulted from the QP re-examining data from the
upper part of the Gilt deposit, which was mined out as well as the drilling data at depth on the deposit.
This showed that the gold zones within the Gilt intrusion typically extend into the surrounding volcanic
rocks. Similarly, the new drilling of the Gilt deposit at depth shows the gold mineralized zones
extending into the adjacent volcanic rocks. The modelling of the gold zones integrated these
extensions which were the major contributor to the increase in the Gilt Inferred MRE.
The Gilt Indicated MRE decreased by 9.5% to 1,042,000 ounces, a decrease of 109,000 oz, whereas
grade increased by 3.4% to 3.33 g/t Au from 3.22 g/t Au. Application of the slightly higher cut-off grade
of 1.7 g/t Au versus the previous 1.5 g/t Au and application of greater selectivity in defining
mineralization domains resulted in the increase in grade relative to the previous estimate. The
decrease in Indicated resource tonnage is due to a more restrictive criteria for the classification of
Indicated blocks.
The impact of cut-off grade on the Gilt Creek Mineral Resource Estimate size and grades is shown in
Figure 4 below with data summarized in Table 5.
Table 5. Impact of Cut-Off grade on the Gilt Mineral Resource Estimate
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Figure 4. Impact of Cut-Off Grade on Size and Average Grade of Gilt MRE
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 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 and surrounding samples within
deemed gold zones, two separate 250 g or 500 g 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
Alan J. San Martin, P.Eng., Principal Resource Geologist of SLR, and Elaine Ellingham, M.Sc., P.Geo.
are both Qualified Persons (QPs) under National Instrument 43 -101 "Standards of Disclosure for
Mineral Projects" and have reviewed and 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. Mr. San Martin is independent of Omai
Gold Mines Corp.