Corporate Member

Omai Gold Mines Corp. holds a 100% interest in the past-producing Omai gold project1 in Guyana (located on the north coast of South America).

In February 2024, the Company announced an updated Mineral Resource Estimate of 2.0 million ounces of gold (Indicated) averaging 2.15 g/t Au plus 2.3 million ounces of gold (Inferred) averaging 2.26 g/t Au.

In April 2024, the Company announced the completion of a Preliminary Economic Assessment (“PEA”) for after-tax NPV5% of $556 million and 19.8% Internal Rate of Return (“IRR”) at a $1,950 base case gold price for the Wenot Project, one of the two gold deposits located on the property.

The PEA supports an initial open pit mining scenario for production of 1.84 million ounces, averaging 142,000 ounces of gold per year over a 13-year mine life, with peak year production of 184,000 ounces. By applying the higher spot gold price recently experienced, for example, at $2,200/oz, this supports an after-tax NPV5% of $777 million, a 24.7% IRR, and a payback period of 3.5 years.

The past-producing Omai gold mine produced 3.8 million ounces averaging 1.5 g/t Au between 1993 and 2005, while the gold price was less than $400/oz, profitably producing an average of more than 300,000 oz Au per year.

Our new discoveries are along strike, on the flanks and beneath the past producing gold deposits, with the mineralization open in all directions for further possible expansion. This substantial new Resource, combined with the many benefits of a brownfields project, is proving that Omai has the potential to rival its historical status as a large-scale mine.

For 2025, the Omai team is focused on completing a resource expansion drill program at the Wenot deposit, followed by a resource update on Wenot in Q2 2025, and an updated PEA incorporating the expanded Wenot resource and the Gilt Creek underground resource for a higher production profile and enhanced economics.