Omai Gold Intersects 7.74 g/t Au over 13.5m and 6.30 g/t Au over 9.8m at Wenot and Commences Drilling Exploration Target

12:05 Uhr  |  Newsfile

Toronto, March 26, 2026 - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to announce assay results from eight additional drill holes from the recent drill program at its 100% owned Omai Gold Project in Guyana, South America.

Five of the eight holes were collared in West Wenot, two in Central Wenot and one at the east end of the Wenot deposit. All holes intersected multiple zones of gold mineralization. The objective of these holes was to fill gaps within the broader Wenot deposit, to convert some mineralized areas to the higher "indicated" confidence level and to provide further testing of the limits of the Wenot gold system. The holes at West Wenot showed continued significant gold mineralization within the southern sediments.

Five diamond drill rigs are now drilling on the Wenot deposit, all working on a series of holes at the northeast portion of Wenot. These are focused on the prolific Dike Corridor at depths between -150 to -400m (the DC holes), in areas not previously tested. As these holes are collared further to the north, they will also explore potential northern splays. Early next week, one drill rig will be deployed to test an intriguing geophysical anomaly known as "the Handle" that corresponds to a magnetic high trending northeast off of the Wenot deposit. An additional drill rig will also commence an additional two holes stepping out on the East Wenot target area.

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

• Hole 25ODD-158
  • 7.74 g/t Au over 13.5m
    • Including 28.03 g/t Au over 3.1m
  • 1.45 g/t Au over 44.4m
    • Including 6.0 g/t Au over 3.6m

• Hole 25ODD-162
  • 6.30 g/t Au over 9.8m
    • Including 37.31 g/t Au over 1.1m
  • 4.15 g/t Au over 6.7m

• Hole 26ODD-166
  • 10.02 g/t Au over 5.4m
  • 2.55 g/t Au over 10.5m
  • 1.48 g/t Au over 14.4m

• Hole 25ODD-161
  • 5.06 g/t Au over 9.4m
    • Including 26.96 g/t Au over 1.2m

• Hole 26ODD-163
  • 2.61 g/t Au over 15.4m

• Hole 26ODD-164
  • 2.93 g/t Au over 10.0m
  • 2.78 g/t Au over 11.5m
    • Including 7.41 g/t Au over 3.0m
  • 2.46 g/t Au over 11.0m

Elaine Ellingham, President and CEO commented: "As these drill results continue to add to the confidence in Omai as a Tier 1 gold asset, we are advancing many aspects of work towards the next stages for the project. The Company is expecting the completion of its updated Mineral Resource Estimate (MRE) within the next couple of weeks and the Preliminary Economic Assessment (PEA) is expected a couple months following completion of the MRE. We have already set our sights on the work that will advance us towards a Pre-Feasibility or Feasibility Study. Metallurgical work, tailings studies and the important permitting initiatives are front and centre. At the same time, we will continue our very aggressive drill program with a focus on upgrading the large Wenot resource, extending the limits and testing certain priority exploration targets."

Current Drill Results

Central Wenot

Hole 25ODD-158 was drilled from the north side of the Wenot Deposit to evaluate down-dip extensions of mineralization across the wide Wenot shear corridor. The hole confirmed the depth continuity of the mineralization observed earlier in holes 153 and 153W (especially within felsic dikes). Hole 158 intersected multiple visible gold occurrences associated with quartz-ankerite and quartz veining, shear zones and altered dikes within the northern volcanic sequence, including 7.74 g/t Au over 13.5m including 28.03 g/t Au over 3.1m. Further downhole within the Dike Corridor, 1.45 g/t Au over 44.4m including 3.6 g/t Au over 6.0m was intersected in quartz veining within altered felsic dikes and the enclosing volcanics. The CQFP zone assayed 1.18 g/t Au over 10.6m. Only minor gold was encountered within the southern sediments in this area, the best being 1.79 g/t Au over 2.3m.

Hole 26ODD-164 was collared 120m in front of hole 158 on the same section line and also drilled to the south. Hole 164 provided good evidence of the upward continuity of zones intercepted by previous holes 25ODD-153 and 25ODD-158. In this hole, the Dike Corridor has 10 mineralized zones, the most notable of which are 2.93 g/t Au over 10.0m with VG, 2.12 g/t Au over 9.0m with VG and 2.78 g/t Au over 11.5m (which included 7.4 g/t Au over 3m). The Dike Corridor is very robust in this area and with the increased drilling density, the extent of this gold mineralization is becoming more apparent. The CQFP in hole 164 has 2 modest zones of 1.8 g/t Au over 1m and 2.7 g/t Au over 1.2m. A couple of gold zones within the sediments have VG and the best intercepts are 2.4 g/t Au over 10m (including 4.43 g/t Au over 4m) and 2.46 g/t Au over 11m (including 16.5 g/t Au over 1.2m). The last intercept to the south, near the end of hole is 1.6 g/t Au over 5.3m within the southern porphyry (SPOR) zone. This SPOR is typically a narrow rock unit that persists along the full extent of the Wenot shear typically occurring about 125m south of the central contact that itself hosts the typically wide and well mineralized quartz-feldspar porphyry (CQFP).

East Wenot

Hole 25ODD-160 was drilled northward at the east end of the Wenot deposit. The dip of the contact between the volcanics and sediments is consistently steep to the north or sub-vertical along the full Wenot deposit. However, at this eastern end, there is evidence that the dip has rotated to the south. Hole 160 illustrates this. This hole lies within a gap between holes 24ODD-82 (3.19 g/t Au over 22.8m and 3.65 g/t Au over 4.5m) and 22ODD-46 (1.85 g/t Au over 12.7m). In hole 160, a series of six gray to reddish gray felsic dikes occur within 50m of the central contact and CQFP. In this area, the Dike Corridor appears to converge with the central zone and it extends 50m from the CQFP to the north with up to 1-2% disseminated pyrite and quartz veining with some VG. Mineralized intervals within this 53m wide Dike Corridor include 2.64 g/t Au over 2.7m, 0.59 g/t over 4.2m, 1.01 g/t over 7.0m and 7.17 g/t Au over 1.5m.

West Wenot

Holes 25ODD-161 and -162 were drilled from the south side of the Wenot deposit. Hole 161 was drilled to explore the shallower extension of gold mineralization near the central contact above hole 25ODD-126 which returned 2.08 g/t Au over 18m, including 9.68 g/t Au over 1.5m in the CQFP. Hole 161 encountered the CQFP at the contact with 5.06 g/t Au over 9.4m (including 26.96 g/t Au over 1.2m) approximately 70m updip from the zones in hole 126 that assayed 2.08 g/t Au over 18.0m. 150m updip from the CQFP zone in hole 161, hole 20 intersected 1.28 g/t Au over 25.7m, this continuity of gold mineralization quite typical within the CQFP zone. Further downhole in 161, several narrow mineralized intervals occur within the volcanics with up to 0.5% disseminated pyrite, the best assaying 8.47 g/t Au over 1.5m.

Hole 25ODD-162, collared 200m east of Hole 161, was also drilled from the south side of the Wenot Deposit. It intersected several discrete mineralized zones in the sediments with the best being 7.1 g/t Au over 1.2m associated with a diorite dike. The CQFP mineralization assayed 6.3 g/t Au over 9.8m (including 37.31 g/t Au over 1.1m) with several spots of VG. A number of gold zones within the Dike Corridor include 4.15 g/t Au over 6.7m and 4.56 g/t Au over 3m with VG and 2.11 g/t Au over 2.2m.

Hole 26ODD-165 was drilled at the far west end of Wenot to explore the potential to extend the deposit further to the west. Shallow in the northern volcanics, 0.86 g/t over 10.2m was intersected before the CQFP which assayed 0.61 g/t Au over 15.5m. The southern sediments host six minor gold zones, the best being 1.46 g/t Au over 3.0m. The zones clearly continue and deeper drilling may identify more robust mineralization, as the Wenot shear continues towards the Camp Zone.

Holes 26ODD-163, 26ODD-166 were drilled on the same section line, with hole 166 being 70m in front of (south) hole 163. Both were collared from the north side of Wenot. These holes tested across all of the Wenot shear corridor. Typical of the west end of Wenot, the major gold zones have migrated to the southern side of the contact, to be dominantly within the southern sediments. Both holes encountered significant visible gold, typical of this area of the deposit. Hole 166 first encountered gold mineralization at a vertical depth of 150m with a zone running 10.02 g/t Au over 5.4m on the north side of the CQFP. Hole 163 intersected an impressive 2.61 g/t over 15.4m at a vertical depth of 260m that may represent the same zone as in hole 166.

Significant intercepts of gold mineralization were encountered, as expected, within the southern sediments in both holes: Hole 163's sediment-hosted gold zones include 2.84 g/t Au over 6.4m, 1.97 g/t Au over 6.8m and 9.07 g/t Au over 1.0m. In hole 166 updip, the sediment zones include a number of zones along a 100m core interval including: 2.55 g/t Au over 10.5m, 1.48 g/t Au over 14.4m, 1.76 g/t Au over 6.0m, 1.37 g/t Au over 11.1m and 1.64 g/t Au over 4.2m. In all, hole 166 intersected over 69m of gold mineralization within a 175m downhole interval of sedimentary rocks, or roughly 40% of this sediment interval.

Figure 1. Plan Map of Wenot Showing Drill Hole Locations

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Geophysics Target

One drill rig is being deployed to test a prospective geophysics anomaly known as the "Handle", that trends NE from the Wenot deposit. The Wenot deposit corresponds to a high magnetic anomaly related to magnetite content and the Handle is similarly a magnetic high. Historical blast hole data suggests northeast-trending structures play a role in the mineralization in some areas along the Wenot deposit. This geophysics anomaly conforms to this trend and presents an interesting drill target.

Figure 2. Airborne Magnetic Images showing the Omai "Augen", the Wenot Magnetic High, and the "Handle" target

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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").

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