Omai to complete resource estimate, PEA for Omai

Executive Summary

• Omai Gold Mines Corp. has engaged SLR Consulting to deliver an updated Mineral Resource Estimate (MRE) and a Preliminary Economic Assessment (PEA) for its 100%-owned Omai gold project in Guyana.
• The updated MRE is expected in Q1 2026, followed by the PEA in Q2 2026. The PEA will incorporate a mine plan for the expanded Wenot open-pit deposit and the adjacent Gilt Creek underground deposit.
• This engagement follows a significant resource expansion announced in August 2025, which increased the global MRE to over 6.5 million ounces of gold (indicated and inferred).

Key Details

• Engagement: SLR Consulting retained to complete updated MRE and PEA.
• Timeline:
  • Updated MRE expected: First Quarter 2026.
  • PEA expected: Second Quarter 2026.
• Project Scope: The updated studies will cover the 100%-owned Omai gold project, specifically incorporating the expanded Wenot open-pit deposit and the immediately adjacent Gilt Creek underground deposit.
• Recent Resource Update (August 2025):
  • Wenot Deposit: 970,000 oz Au (Indicated) at 1.46 g/t Au in 20.7 Mt; 3,717,000 oz Au (Inferred) at 1.82 g/t Au in 63.4 Mt.
  • Global MRE (Wenot + Gilt Creek): 2,121,000 oz Au (Indicated) at 2.07 g/t Au in 31.9 Mt; 4,382,000 oz Au (Inferred) at 1.95 g/t Au in 69.9 Mt.
• Drilling Activity:
  • Five drills operated until December (prior to holiday break).
  • Three drills commenced the 2026 drill program at Wenot.
  • Drilling focus: Testing deposit limits (east and west), upgrading Inferred to Indicated resources, and exploring for near-surface higher-grade satellite deposits.
• Historical Context: Previous baseline PEA (April 2024) contemplated an open-pit-only scenario and included less than 30% of the new mineral resource estimate.
• Infrastructure: Site benefits from existing infrastructure, including an on-site airstrip and road connections to Georgetown and Linden.

Notable Quotes

• "These next steps will provide all stakeholders with a better understanding of the size and value potential of the Omai project... We anticipate that this upcoming preliminary economic assessment will be transformational and will illuminate the pathway to development." — Elaine Ellingham, President and CEO