Toronto, Ontario--(Newsfile Corp. - February 25, 2026) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to announce assay results from six additional drill holes from the recent drill program at its 100% owned Omai Gold Project in Guyana, South America.

Multiple zones of gold mineralization were intersected in each of these holes, most notably, central Wenot Hole 25ODD-119W intersected 4.18 g/t Au over 14.6m, 2.07 g/t Au over 27.4m, and 3.73 g/t Au over 17.3m. These new results will be included in the upcoming Mineral Resource Estimate ("MRE").

The Company is also pleased to announce that a 50,000-metre diamond drill program has commenced. It is designed to further pursue opportunities to expand the overall Omai gold resources, explore certain nearby geophysical anomalies, while continuing the priority work of upgrading the large Wenot resource, an important next step.

Highlights* from the recent drilling include:
(refer to Table 1 for full assays and downhole depths):

• Hole 25ODD-119W
  • 4.18 g/t Au over 14.6m
    • Including 9.12 g/t Au over 4.1m
  • 2.38 g/t Au over 23.3m
    • Including 3.95 g/t Au over 11.8m
  • 2.07 g/t Au over 27.4m
    • Including 11.64 g/t Au over 1.1m
    • Including 10.49 g/t Au over 1.2m
  • 3.73 g/t Au over 17.3m
    • Including 8.61 g/t Au over 5.1m

• Hole 25ODD-150W3
  • 1.94 g/t Au over 30.3m
    • Including 3.03 g/t Au over 15.9m
    • Including 14.35 g/t Au over 2.5m

• Hole 25ODD-159
  • 1.75 g/t Au over 19.3m
  • 14.45 g/t Au over 2.5m

"As Omai continues to report positive drill results from Central and East Wenot, we are excited to have commenced a 50,000-metre diamond drill program to further expand the overall Omai gold resources and continue to unlock value for our shareholders," commented Elaine Ellingham, President and CEO. "The primary objective of this current program is to upgrade the large Wenot Inferred resource in order to move the Omai project forward to the next key milestones," concluded Ms. Ellingham.

2026 Drill Program

Drilling recommenced January 14^th and 5,395m have been completed to date in 2026 in 11 holes, three of which started at the end of 2025. A majority of the planned 50,000m drill program will focus on upgrading the large Wenot inferred resource, which as a by-product is expected to increase the overall MRE as remaining gaps are drilled and zones are extended to depth. To assist in executing efficiently, the Company has engaged Objectivity of Sudbury Ontario, a geological data analytics consultancy. They are partnering with the Company's geology team to maximize the effectiveness and efficiency of the upcoming resource drill program. Objectivity's proprietary software generates deposit-specific algorithms that can improve expected resource conversion and systematically address gaps within geological models. The Objectivity work has outlined a program over the main body of the Wenot deposit consisting of 59 holes (32,500m). This approach is expected to accelerate the timeline to bring the Wenot resource to the next step.

The planned drill program also includes a Deep Dike Corridor initiative ("DDC") focused on the northeast portion of the Wenot Deposit, where it remains open for expansion. This drilling is planned at spacings to support the Indicated resource classification. Multiple previous high-grade drill intersections within the northern-most Dike Corridor zones have only been tested to depths of 150-200m including: 8.98g/t over 5m in hole 25ODD-102, 4.48g/t Au over 10m in hole 25ODD-112, 15.15 g/t Au over 6m in hole 21ODD-024 and 1.23 g/t Au over 10.5m in hole 25ODD-118. An estimated 20-hole program (12,500m) will pursue the down-dip extension of these zones. As these drill collars will step back to the north, they will also be testing the stratigraphy to the north of Wenot that has seen little or no exploration. An additional part of the drill program will test a 400m strike along the East Wenot extension with an initial 9 holes (3,200m).

A review of the geophysics has helped refine certain targets near or extending from the Wenot deposit, one in particular that correlates with a strong magnetic signature. These geophysical anomalies hold potential for new zones, within either splays off the main Wenot shear or separate satellite zones. An initial 1,800m program will pursue these targets.

Three drills are currently operating with two additional drills on site scheduled to commence next week.

Current Drill Results

Central Wenot

Hole 25ODD-119W, which was drilled from the north side of Wenot Deposit, is a wedge up from Hole 25ODD-119 that intersected 31.70 g/t Au over 7.5m, 1.61 g/t Au over 36.4m and 3.89 g/t Au over 13.2m (News Release dated July 29, 2025). Hole 119W intersected multiple wide zones of gold mineralization with several spots of visible gold within the Dike Corridor. Results included 4.18 g/t Au over 14.6m, 4.0 g/t Au over 8.0m, 2.38 g/t Au over 23.3m, and 18.03 g/t Au over 1.87m. The Central Wenot Contact, consisting of CQFP and adjacent diorite, also showed several spots of visible gold and quartz and ankerite veins, assayed 2.07 g/t Au over 27.4m. South of the contact within the sedimentary sequence, a 17.30m wide interval returned 3.73 g/t Au. This interval included a higher-grade interval of 8.61 g/t Au over 5.4m, associated with gold-bearing quartz and ankerite veins within a diorite dike within the sediments.

Hole 25ODD-150W3, is wedged from hole 25ODD-150W, drilled from the southern side of Wenot. The hole intersected several spots of visible gold within the southern sedimentary sequence with multiple gold mineralized zones, including 4.87 g/t Au over 2.25m, 1.54 g/t Au over 16.0m and 1.94 g/t Au over 30.3m (including 14.35 g/t Au over 2.50m). Intersections such as these, intersecting gold mineralization within the southern sediments are evidence of the potential for robust mineralization along the south side of Wenot and can be expected to contribute to reducing the Wenot strip ratio as the project progresses. Downhole, within the volcanic-hosted Dike Corridor, multiple narrow mineralized zones were also intersected, the best being 9.21 g/t Au over 1.05m. Additional zones include 0.92 g/t Au over 4.2m, 1.50 g/t Au over 2.15m, 5.40 g/t Au over 1.0m and 4.83 g/t Au over 1.5m.

Hole 25ODD-153W is wedged up from Hole 153 and was drilled from the north in the Central Wenot area. The hole intersected several mineralized zones within the Dike Corridor, including 2.38 g/t Au over 4.7m and 2.33 g/t Au over 9m. Within the Central QFP and adjacent sheared diorite dike and protomylonite, a gold mineralized zone was intersected yielding 0.64 g/t Au over 29.6m. Further down the hole, within the sedimentary sequence, 1.72 g/t Au over 8.8m was intersected, associated with diorite dikes and altered quartz-ankerite-pyrite veins cutting across the bedding of the sediments.

Hole 25ODD-156, was collared on the north side of Central Wenot Deposit. It targeted the up-dip extension of mineralization intersected in hole 24ODD-091, in which a wide mineralized zone within the Dike Corridor contains 0.79 g/t Au over 48m, and other zones include 5.76 g/t Au over 5.4m and 2.50 g/t Au over 9.0m (News Release dated January 21, 2025). By comparison, hole 156 intersected multiple narrow zones of gold mineralization within the Dike Corridor, including 5.22 g/t Au over 4.25m, 7.92 g/t Au over 2.0m and 7.51 g/t Au over 1.5m. Two gold zones within the Central Wenot Contact, were intersected, including 2.90 g/t Au over 1.5m and 0.52 g/t Au over 8.7m. Within the sedimentary sequence, a narrow-mineralized interval associated with diorite dike intersected 1.09 g/t Au over 4.4m.

Hole 25ODD-159, was drilled from the south side of Wenot Deposit. It intersected narrow zones of gold mineralization within the sediments, with best values of 0.82 g/t Au over 1.5m. A 19.3m wide mineralized zone containing 1.75 g/t Au was intersected within the Central Wenot Contact and 2.79 g/t Au over 6.75 m was intersected within the adjacent volcanics. North of the contact, several zones of gold mineralization were also intersected within the Dike Corridor, including 14.45 g/t Au over 2.5m, 2.69 g/t Au over 2.3m, 1.54 g/t Au over 1.5m and 0.54 g/t Au over 5.4m.

East Wenot

Hole 25ODD-157 was drilled 40m south of Hole 142, in East Wenot. Multiple zones of gold mineralization were intersected within the Dike Corridor, including 0.64 g/t Au over 7.5m, 1.44 g/t Au over 2.5m and 1.95 g/t Au over 2.5m. Within the Central QFP, and adjacent volcanics, 0.89 g/t Au over 8.1m was intersected. Further downhole, within the sedimentary sequence, a few narrow gold-mineralized zones associated with diorite dikes and quartz and ankerite veins with pyrite and visible gold were intersected, including 1.43 g/t Au over 8.0m. This was to follow-up on hole 142 that intersected a shallow high-grade zone. The results of this hole support the interpretation that the primary zones of interest likely dip to the south in this area and need to be drilled from the south. Additional holes will follow up.

Figure 1. Plan Map of Wenot Showing Drill Hole Locations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8712/285229_0d7913c7a4ff9b2b_001full.jpg

Table 1. Recent Wenot Drill Results*

*True widths vary as mineralization at Wenot is generally hosted within stockwork vein systems with alteration halos, with an estimated true width range of 70-90%. Cut-off grade 0.30 g/t Au with maximum 3.0m internal dilution is applied. **If indicated, a maximum 5.0m internal dilution was applied. All grades are uncapped unless otherwise noted.

Quality Control

Omai maintains an internal QA/QC program to ensure sampling and analysis of all exploration work is conducted in accordance with best practices. Certified reference materials, blanks and duplicates are entered at regular intervals. Samples are sealed in plastic bags.

Drill core samples (halved-core) were shipped to Act Labs and some batches to MSALABS, both certified laboratories in Georgetown Guyana, respecting the best chain of custody practices. At the laboratory, samples are dried, crushed up to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm, including cleaner sand. Fifty grams of pulverized material is then fire assayed by atomic absorption spectrophotometry (AA). Initial assays with results above 3.0 ppm gold are re-assayed using a gravimetric finish. For samples with visible gold and surrounding samples within deemed gold zones, two separate 250g or 500g pulverized samples are prepared, with 50 grams of each fire assayed by atomic absorption spectrophotometry, with assays above 3.0 ppm gold being re-assayed using a gravimetric finish. Certified reference materials and blanks meet with QA/QC specifications.

Qualified Person

Elaine Ellingham, P.Geo., is a Qualified Person (QP) under National Instrument 43-101 "Standards of Disclosure for Mineral Projects" and has reviewed and approved 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 National Instrument 43-101.

ABOUT OMAI GOLD

Omai Gold Mines Corp. is a Canadian gold exploration and development company focused on rapidly expanding the two orogenic gold deposits at its 100%-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 Shield.

In August 2025, the Company announced a 96% increase to the Wenot Gold Deposit NI 43-101 Mineral Resource Estimate¹ (MRE) to 970,000 ounces of gold (Indicated) averaging 1.46 g/t Au, contained in 20.7 Mt 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 deposit, 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.

The Company completed 39,000m of diamond drilling in 2025. An updated MRE is planned for Q1 2026 to be followed by an updated Preliminary Economic Assessment ("PEA") in Q2, that will include the Wenot open pit deposit and the adjacent Gilt underground deposit. Three drills have commenced the 2026 drill program: at Wenot the focus is to further test the limits of the deposit, including both east and west, and to commence upgrading the large Inferred MRE to Indicated. Additional drilling will continue to explore certain known gold occurrences for possible near-surface higher-grade satellite deposits. The Omai Gold Mine produced over 3.7 million ounces of gold from 1993 to 2005², ceasing operations when gold was below US$400 per ounce. The Omai brownfields project benefits from known metallurgical recoveries, existing tailings facilities, and infrastructure, including an on-site airstrip, and road access, connecting to the two largest cities in Guyana, Georgetown and Linden.

¹ NI 43-101 Technical Report dated October 9, 2025 titled "UPDATED MINERAL RESOURCE ESTIMATE AND TECHNICAL REPORT ON THE OMAI GOLD PROPERTY, POTARO MINING DISTRICT NO.2, GUYANA" was prepared by P&E Mining Consultants Inc. and is available on www.sedarplus.ca and on the Company's website.

² Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on www.sedarplus.ca, including March 31, 2006 AIF and news release August 3, 2006.

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.

Table 2. Drill Hole Coordinates

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 the drill program, 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 this 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 process 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 revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Cautionary Note Regarding Mineral Resource Estimates

Until mineral deposits are actually mined and processed, Mineral Resources must be considered as estimates only. Mineral Resource Estimates that are not Mineral Reserves have not demonstrated economic viability. The estimation of Mineral Resources is inherently uncertain, involves subjective judgement about many relevant factors and may be materially affected by, among other things, environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant risks, uncertainties, contingencies and other factors described in the Company's public disclosure available on SEDAR+ at www.sedarplus.ca. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration. The accuracy of any Mineral Resource Estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource Estimates may have to be re-estimated based on, among other things: (i) fluctuations in mineral prices; (ii) results of drilling, and development; (iii) results of future test mining and other testing; (iv) metallurgical testing and other studies; (v) results of geological and structural modeling including block model design; (vi) proposed mining operations, including dilution; (vii) the evaluation of future mine plans subsequent to the date of any estimates; and (viii) the possible failure to receive required permits, licenses and other approvals. It cannot be assumed that all or any part of a "Inferred" or "Indicated" Mineral Resource Estimate will ever be upgraded to a higher category. The Mineral Resource Estimates disclosed in this news release were reported using Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (the "CIM Standards") in accordance with National Instrument 43-101- Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101").

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285229