OMG NEWS RELEASE 1 Omai Gold Announces New Director Derek Macpherson and AGM Results
OMG NEWS RELEASE 1
Omai Gold Announces New Director Derek Macpherson and AGM Results
December 11, 2023 Toronto, Ontario — Omai Gold Mines Corp. (TSXV: OMG) (OTC:OMGGF)
(“Omai” or the “Company”) is pleased to announce the election of Mr. Derek Macpherson to the
Board of Directors. The Company is also announcing the results from the Annual General and
Special Meeting (AGSM) and the granting of incentive stock options to a director of the Company.
Mr. Macpherson has over ten years of capital markets experience in mining , identifying
investment opportunities, consulting on business strategy, and raising money for junior mining
companies. For the last few years, he worked as a mining executive and director, prior to which
he worked in capital markets as Mining Analyst and Investment Banker at both boutique and
bank-owned investment dealers, primarily covering junior mining stocks. Pr eviously he worked
for six years as a metallurgist. Mr. Macpherson has a Bachelor of Engineering and Management
in Materials Science from McMaster University, and a Master of Business Administration from the
Schulich School of Business. Derek is of Guyanese descent. He is currently President and CEO
of Gold79 Mines Ltd and Executive Chairman of Olive Resource Capital Inc.
Omai Gold CEO, Elaine Ellingham, commented: " I am very pleased to welcome Derek to our
Board. He brings years of experience in the capital markets, together with technical experience
as a metallurgist, and senior executive experience leading exploration and investment companies.
His experience in the financial sector as well as in- depth knowledge of the technical aspects of
our business will add additional strength to our Board as we advance our Omai Gold project in
Guyana. I look forward to working with Derek as we continue to grow OMG.”
The Company held its AGSM on December 6, 2023. Shareholders voted in favour of all items of
business before the AGSM, including the re- election of directors Elaine Ellingham, Lon Shaver,
Don Dudek, and Nadine Miller, and the election of new director Derek Macpherson.
The Company has granted incentive stock options to a director of the Company to purchase up
to 1,000,000 common shares of the Company pursuant to the Company's stock option plan. The
options have a five -year term at an exercise price of $0.065 per share , subject to a vesting
schedule.
ABOUT OMAI GOLD
Omai Gold Mines Corp. holds a 100% interest in the Omai Prospecting License that includes the
past producing Omai gold mine in Guyana, and a 100% interest in the adjoining Eastern Flats
Mining Permits. The Company announced an updated NI 43-101 Mineral Resource Estimate
(“MRE”) October 20, 2022 that includes 1.9 million ounces of gold (indicated) and 1.8 million
ounces (inferred)1. 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. As a brownfields project, Omai benefits from good road
access and a wealth of historical data that provides knowledge of the geology and gold
mineralization on the property, as well as metallurgy , historical recoveries and many other
relevant mining parameters. The Company’s priorities are to compile results of the 2023 drilling
and proceed with an updated Mineral Resource Estimate that will form the basis of a Preliminary
Economic Assessment (PEA).
OMG NEWS RELEASE 2
1 The Company filed an NI43-101 technical report titled “Technical Report and Updated Mineral Resource
Estimate of the Omai Gold Property, Potaro Mining District No. 2, Guyana”, prepared by P&E Mining
Consultants Inc dated December 2, 2022 on the SEDAR website www.sedar.com.
For further information, please see our website www.omaigoldmines.com or contact:
Elaine Ellingham P.Geo.
President & CEO
Phone: +1 416-473-5351
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 include s 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 exploration, trenching and drill programs, 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 the Omai Gold 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 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 obl igation to update or revise any forward- looking
statements, whether as a result of new information, future events or otherwise, except as required by law.