Omega Announces Revised First Tranche Closing

• Omega Pacific Resources Ltd. announced the revised closing of the first tranche of its non-brokered private placement on May 12, 2026.
• Total gross proceeds raised in this tranche are approximately $1.5 million ($1,211,010 from Flow-Through Units and $297,000 from Non-Flow-Through Units).
• The offering price was set at $0.21 per Flow-Through Unit and $0.20 per Non-Flow-Through Unit.
• This follows a preliminary announcement on May 1, 2026, which reported slightly higher proceeds ($1.59 million), indicating a revision in the final closing numbers.
• The company highlighted historical drilling results at the GIC Prospect within the Williams Property, specifically WM24-01 (1.69 g/t Au over 104 m) and WM22-02ext (2.16 g/t Au over 96.92 m).
• Management plans to complete an additional tranche of the offering in the near future, subject to CSE approval.
• The 2026 exploration program focuses on expanding known mineralization along a drill-confirmed 750m strike length eastward and up-dip from 2024 drill collars.

• Capital Adequacy: The $1.5 million raise provides immediate liquidity for the 2026 exploration program, reducing near-term dilution risk compared to a failed financing. However, it is less than the initial March 2026 target of up to C$3.70M total gross proceeds (FT + NFT), suggesting the company may need to return to the market sooner than anticipated to meet its $5M exploration covenant by Dec 2027.
• Price vs. Placement: The stock closed at $0.19 on May 12, trading below the placement price of $0.21/$0.20. This indicates weak secondary market demand immediately following the financing, which is a risk factor for future capital raises.
• Operational Continuity: The news confirms the company has secured funds to continue drilling at the GIC Prospect, validating the strategic shift from optioning to 100% ownership (completed Nov 2025).
• Revision Risk: The revision of proceeds from $1.59M (May 1) to $1.5M (May 12) is minor but highlights potential oversubscription issues or administrative adjustments that investors should monitor for future tranches.

• Company: Omega Pacific Resources Ltd., a junior exploration company focused on gold projects in British Columbia.
• Flagship Project: Williams Property (Toodoggone District, BC).
• Property Status: 100% owned following acquisition of remaining 49% interest from Copaur Minerals in November 2025.
• Key Prospect: GIC Prospect features a bulk-tonnage gold system with mineralization open in all directions.
• Exploration Strategy: 2026 program targets expansion along a 750m strike length and testing the secondary ROI Prospect (porphyry-style anomalies).