OMG News Release 1 Omai GOLD Mines Appoints Joshua Bailey as Strategic and Technical Advisor & Presents at Beaver Creek Precious Metals Summit
OMG NEWS RELEASE 1
OMAI GOLD MINES APPOINTS JOSHUA BAILEY AS
STRATEGIC AND TECHNICAL ADVISOR
& PRESENTS AT BEAVER CREEK PRECIOUS METALS SUMMIT
Toronto, Ontario – (September 4, 2024) – Omai Gold Mines Corp. (TSXV:OMG)
(OTCQB:OMGGF) ("Omai" or the "Company") is pleased to announce the appointment of Joshua
Bailey, P.Geo as Technical and Strategic Advisor to the Company, effective immediately.
Mr. Bailey brings over 20 years professional experience in mineral exploration having played key
executive leadership roles in corporate strategy and governance, technical and operational
execution, transactions and partnerships, and corporate development. Joshua holds an MSc in
geology from Laurentian University and an MBA. Previous roles include:
• Head of Global Generative and Head of Commercial with BHP Exploration where he led
global technical and commercial teams to evaluate hundreds of opportunities, negotiate
multiple transactions, and manage multiple partnerships.
• Chief Operating Officer and Director with private explorer Exiro Minerals, with a key role
in securing partnerships and financing from top- tier private equity firms and senior
companies, consolidating large tracts of prospective ground, and assembl ing a portfolio
of projects and royalties across North America.
• Vice President of Exploration with Wallbridge Mining where he drove the pivot towards
gold in 2014, sourced and led the evaluation and acquisition of the Fenelon gold project,
and led the initial successful drilling campaigns of what is now a multi -million-ounce
deposit. He also negotiated and managed multiple partnerships over many years.
• Chair of the Ontario Prospectors Association, President of the Sudbury Prospectors and
Developers Association, and on the Advisory Board of the Mineral Exploration Research
Centre at Laurentian University.
Elaine Ellingham, CEO, commented. “We welcome Josh’s experience and industry knowledge as
we a ccelerate our work on the Omai project in Guyana. The completion of the Preliminary
Economic Assessment in April was a major milestone and we are now well financed to continue
on our growth trajectory. Josh’s expertise in both corporate development and exploration
complements our management and technical teams.“
Mr. Bailey commented, “I am thrilled to be working with Elaine and the team to help them further
advance and expand the Omai project. Having just returned from a site visit to the project, I am
impressed with the excellent work that the team is doing and the support for the project that exists
in country. The large scale resource growth potential of the project is clear and it is an exciting
time for the company.”
Beaver Creek 2024 Precious Metal Summit (Beaver Creek, Colorado)
Omai Gold will be presenting at the Beaver Creek Precious Metal Summit, September 10-13,
2024, in Colorado. Omai Gold’s CEO Elaine Ellingham will be presenting Thursday September
12th at 9:00 am, Room 2.
OMG NEWS RELEASE 2
ABOUT OMAI GOLD
Omai Gold Mines Corp. holds a 100% interest in the past producing Omai gold property in Guyana which
it is exploring for its resource potential to support large-scale, long-lived, gold production starting at shallow
depths. The Company announced a Preliminary Economic Assessment (“PEA”) on its Wenot deposit at
Omai on April 4, 2024, supporting an open pit operation to produce 1.84 million ounces of gold over a 13-
year period, with an NPV5% of US$556 million at a US$1950/oz gold price1. An updated NI 43- 101 Mineral
Resource Estimate (“MRE”) announced February 8, 2024 for both the Wenot and Gilt Creek deposits
includes 2.0 million ounces of gold (Indicated) and 2.3 million ounces (Inferred) 1. Once South America’s
largest producing gold mine, Omai produced over 3.7 million ounces of gold from two open pits between
1993 and 2005 before closing when the average gold price was less than US$400 per ounce. Historic
mining only extended to 150-180 metres depth on part of the known deposits and considerable current
resource remains at very shallow depths, including along the flanks of the historic pits. As a brownfields
project, Omai benefits from good access and a wealth of historical data that provides knowledge of the
geology, nature of the gold mineralization on the property, as well as metallurgy and historical recoveries.
The Company’s priorities through 2024 and 2025 are to: i) Drill to expand the resource base and overall
property Mine Plan, ii) Enhance the economics beyond the initial baseline PEA, and iii) Advance permitting,
engineering and baseline studies.
1The NI43-101 Technical Report dated May 21, 2024, titled “UPDATED MINERAL RESOURCE ESTIMATE
AND PRELIMINARY ECONOMIC ASSESSMENT OF THE OMAI GOLD PROPERTY, POTARO MINING
DISTRICT NO. 2, GUYANA”, prepared under the supervision of Eugene Puritch, P.Eng., FEC, CET,
President of P&E Mining Consultants Inc., who is a Qualified Person (QP) and is independent of Omai Gold
for the purposes of NI 43-101. The report is available on SEDAR+ and on the Company’s website.
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 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 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 consider ed 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 a re 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 th e 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 obligation to update or re vise any forward- looking
statements, whether as a result of new information, future events or otherwise, except as required by law.