Omai closes $40-million bought deal offering

Ms. Elaine Ellingham reports OMAI GOLD MINES CORP. ANNOUNCES CLOSING OF C$40 MILLION BOUGHT DEAL PRIVATE PLACEMENT OF COMMON SHARES Omai Gold Mines Corp. has closed its previously announced bought deal private placement offering of 34,783,000 common shares of the company, issued at $1.15 per share, for gross proceeds of $40,000,540. The offering was conducted by Paradigm Capital Inc., as lead underwriter and sole bookrunner, Haywood Securities Inc., Agentis Capital Markets (First Nations Financial Markets Limited Partnership), National Bank Financial Inc., Desjardins Securities Inc., Cormark Securities Inc. and Stifel Nicolaus Canada Inc. In connection with the offering, the company paid to the underwriters a cash commission of $2,194,274.75. The purchase of 200,000 shares by an officer of the company constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101, specifically sections 5.5(a) and 5.7(1)(a), as the fair market value of the shares issued to, and the consideration paid by, insiders does not exceed 25 per cent of the company's market capitalization. The company did not file a material change report 21 days prior to closing of the offering as the insider participation had not been confirmed at that time. The net proceeds from the offering will be used for exploration and development, and general working capital purposes. The securities issued under the offering are subject to a hold period under Canadian law expiring four months and one day from the closing date of the offering. The offering remains subject to final acceptance of the TSX Venture Exchange. About Omai Gold Mines Corp. Omai is a Canadian gold exploration and development company focused on rapidly expanding the two orogenic gold deposits at its 100-per-cent-owned Omai gold project in mining-friendly Guyana, South America. The company has established the Omai gold project as one of the fastest-growing and well-endowed gold camps in the prolific Guiana greenstone belt. In August, 2025, the company announced a 96-per-cent increase to the Wenot gold deposit National Instrument 43-101 mineral resource estimate to 970,000 ounces of gold (indicated) averaging 1.46 grams per tonne gold, contained in 20.7 million tonnes, and 3,717,000 ounces of gold (inferred MRE) averaging 1.82 g/t Au, contained in 63.4 Mt. This brings the global MRE at Omai, including the Wenot and adjacent Gilt Creek deposits, to 2,121,000 ounces of gold (indicated MRE) averaging 2.07 g/t Au in 31.9 Mt and 4,382,000 ounces of gold (inferred MRE) averaging 1.95 g/t Au in 69.9 Mt. A baseline preliminary economic assessment announced in April, 2024, contemplated an open-pit-only development scenario and included less than 30 per cent of the new mineral resource estimate for Omai. Four drills are currently active on the property: At Wenot, the focus is to optimize the coming PEA, to further test the limits of the deposit, including both east and west, and to upgrade some of the large inferred MRE to indicated. Additional drilling will continue to explore certain known gold occurrences for possible near-surface higher-grade satellite deposits. An updated PEA is planned for first quarter 2026 to include the expanded Wenot open-pit deposit and the adjacent Gilt Creek underground deposit. The Omai gold mine produced over 3.7 million ounces of gold from 1993 to 2005, ceasing operations when gold was below $400 (U.S.) per ounce. The Omai site significantly benefits from existing infrastructure and will soon be connected to the two largest cities in Guyana, Georgetown and Linden, through paved road. Elaine Ellingham, PGeo, is a qualified person under National Instrument 43-101 (Standards of Disclosure for Mineral Projects" and has reviewed 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 NI 43-101. We seek Safe Harbor.