Updated NI 43-101 Omai Mineral Resource Estimate announced (note updat

Briefing

The open pit will produce a total of 41.1 Mt of process plant feed at an average grade of 1.51 g/t Au, containing 1,989 koz over the LOM. Key points: The open pit will produce a total of 41.1 Mt of process plant feed at an average grade of 1.51 g/t Au, containing 1,989 koz over the LOM; No provision has been included in the cost estimates to offset future escalation.” 24.16.1 Capital Costs “The total initial capital cost of the Omai Gold Project is estimated at $375M; Sustaining capital costs incurred during the 13 production years are estimated to total $172M; 480 The Omai Gold Wenot Project PEA economic results are summarized in Table 24.5 and indicate an after-tax net present value (“NPV”) of $556M at a 5% discount rate, an internal rate of return (“IRR”) of 20% and a 4.3-ye; TABLE 24.5 PAYBACK PERIOD, NPV AND IRR FOR BASELINE FINANCIAL MODEL Item Payback NPV IRR 1 Period ($M) (%) (years) (5% discount rate) Pre-Tax 3.9 717 23 After-Tax 4.3 556 20 Note: 1 IRR value was calculated using Microso; Figure 24.4 shows the Project after-tax NPV sensitivity graph.” TABLE 24.6 PEA SUMMARY PARAMETERS AND RESULTS Parameter Amount Gold Price (Base case) US$/oz 1,950 LOM Tonnes Processed (Mt) 41.1 Average Process Plant Head. This brief is based on the cited source artifact and is intended as a research entry point, not a replacement for the original source or EGM canonical data tables.

Source Notes

The open pit will produce a total of 41.1 Mt of process plant feed at an average grade of 1.51 g/t Au,...

Extractive summary evidence · source

No provision has been included in the cost estimates to offset future escalation.” 24.16.1 Capital Costs “The total initial capital cost of...

Extractive summary evidence 2 · source

Sustaining capital costs incurred during the 13 production years are estimated to total $172M.

Extractive summary evidence 3 · source

480 The Omai Gold Wenot Project PEA economic results are summarized in Table 24.5 and indicate an after-tax net present value (“NPV”)...

Extractive summary evidence 4 · source

Extracted Document Text

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# Updated NI 43-101 Omai Mineral Resource Estimate announced (note updated MRE announced April 2026)

Source: https://omaigoldmines.com/site/assets/files/5486/2025_omg_wenot_umre_tech_report_final_20251009.pdf
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## Content

# Updated NI 43-101 Omai Mineral Resource Estimate announced (note updated MRE announced April 2026)
UPDATED MINERAL RESOURCE ESTIMATE AND
TECHNICAL REPORT ON
THE OMAI GOLD PROPERTY,
POTARO MINING DISTRICT NO. 2, GUYANA
UTM PSAD56 ZONE 21N 306,500 m E AND 601,700 m N
LONGITUDE 58º 44’ 48” W AND LATITUDE 5º 26’ 28” N
FOR
OMAI GOLD MINES CORP.
NI 43-101 and 43-101F1
TECHNICAL REPORT
William Stone, Ph.D., P.Geo.
Yungang Wu, P.Geo.
Jarita Barry, P.Geo.
Antoine Yassa, P.Geo.
D. Grant Feasby, P.Eng.
David Burga, P.Geo.
Eugene Puritch, P.Eng., FEC, CET
P&E Mining Consultants Inc.
Report 480
Effective Date: August 25, 2025
Signing Date: October 9, 2025
TABLE OF CONTENTS
1.0 SUMMARY .........................................................................................................................1
1.1 Property Description and Location ..........................................................................1
1.2 Accessibility, Climate, Local Resources, Infrastructure and Physiography ............2
1.3 History......................................................................................................................3
1.4 Geological Setting and Mineralization ....................................................................3
1.5 Deposit Type ............................................................................................................5
1.6 Exploration...............................................................................................................5
1.7 Drilling .....................................................................................................................6
1.8 Sample Preparation, Analyses and Security ............................................................7
1.9 Data Verification ......................................................................................................8
1.10 Mineral Processing and Metallurgical Testing ........................................................8
1.11 Mineral Resource Estimates ....................................................................................9
1.11.1 Wenot Deposit .....................................................................................12
1.11.2 Gilt Creek Deposit ...............................................................................14
1.12 Conclusions and Recommendations ......................................................................16
2.0 INTRODUCTION AND TERMS OF REFERENCE .......................................................19
2.1 Terms of Reference ................................................................................................19
2.2 Site Visits ...............................................................................................................19
2.3 Sources of Information ..........................................................................................20
2.4 Units and Currency ................................................................................................21
3.0 RELIANCE ON OTHER EXPERTS ................................................................................28
3.1 Mineral Tenure.......................................................................................................28
3.2 Surface Rights ........................................................................................................28
3.3 Permits ...................................................................................................................29
3.4 Environmental ........................................................................................................29
4.0 PROPERTY DESCRIPTION AND LOCATION .............................................................30
4.1 Location .................................................................................................................30
4.2 Property Description and Tenure ...........................................................................30
4.3 Mineral Tenure in Guyana .....................................................................................34
4.3.1 Prospecting Licences ...........................................................................34
4.3.2 Mining Licences...................................................................................34
4.4 Royalties ................................................................................................................36
4.5 Environmental and Permitting ...............................................................................36
4.5.1 Environmental Liabilities.....................................................................36
4.5.2 Permitting.............................................................................................37
4.6 Other Properties of Interest ....................................................................................38
4.7 Other Signficant Factors and (or) Risks.................................................................38
5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND
PHYSIOGRAPHY .............................................................................................................39
5.1 Accessibility...........................................................................................................39
5.2 Local Resources and Infrastructure .......................................................................42
5.3 Physiography..........................................................................................................45
5.4 Climate ...................................................................................................................45
6.0 HISTORY ..........................................................................................................................46
6.1 Exploration History................................................................................................46
P&E Mining Consultants Inc. Page i
Omai Gold Mines Corp., Omai Gold Property uMRE & Tech Report, Report No. 480
6.1.1 IAMGOLD ...........................................................................................49
6.1.1.1 2006-2007 Drilling Program ....................................................49
6.1.1.2 Historical Mineral Resource Estimate .....................................55
6.1.1.3 Historical Mineable Resource Estimate ...................................56
6.1.2 Mahdia Gold Corp. 2012 to 2017 ........................................................57
6.1.2.1 LiDAR Survey .........................................................................57
6.1.2.2 Drill Core Reconstruction and Rehabilitation..........................57
6.1.2.3 2012 Drilling ............................................................................58
6.2 Historical Mineral Processing ................................................................................60
6.3 Historical Site and Environmental Studies ............................................................60
6.4 Past Production ......................................................................................................60
6.5 Previous Mineral Resource Estimates ...................................................................64
6.5.1 2022 Updated Mineral Resource Estimate ..........................................64
6.5.2 2024 Updated Mineral Resource Estimates .........................................67
6.5.2.1 Wenot 2024 Mineral Resource Estimate .................................67
6.5.2.2 Gilt Creek 2022 Mineral Resource Estimate ...........................68
7.0 GEOLOGICAL SETTING AND MINERALIZATION ...................................................70
7.1 Regional Geology ..................................................................................................70
7.2 Local and Property Geology ..................................................................................73
7.2.1 Rock Types ..........................................................................................74
7.2.2 Structure ...............................................................................................77
7.2.3 Hydrothermal Alteration ......................................................................79
7.2.4 Laterite and Saprolite ...........................................................................80
7.3 Wenot Deposit Geology .........................................................................................81
7.4 Mineralization ........................................................................................................83
7.4.1 Primary Gold Mineralization ...............................................................83
7.4.2 Secondary Gold Mineralization ...........................................................88
7.5 Additional Primary Mineralization Prospects of Interest ......................................91
7.5.1 West Wenot Extension Area ................................................................91
7.5.2 East Wenot Extension Prospect Area ..................................................93
7.5.3 Gilt Creek (Fennel Deep) Geology ......................................................93
7.5.4 Broccoli Hill.........................................................................................96
7.5.5 Blueberry Hill ......................................................................................98
7.5.6 Snake Pond Prospect ............................................................................98
8.0 DEPOSIT TYPES ............................................................................................................100
9.0 EXPLORATION..............................................................................................................103
9.1 Airborne Geophysics ...........................................................................................103
9.2 Drone Survey .......................................................................................................106
9.3 Trenching and Sampling ......................................................................................108
9.3.1 Broccoli Hill Prospect Area ...............................................................108
9.3.2 Snake Pond Prospect Area .................................................................111
9.3.3 Blueberry Hill Prospect Area .............................................................115
9.4 Auger Soil Sampling ............................................................................................120
10.0 DRILLING .......................................................................................................................122
10.1 Historical Drill Core Re-Logging and Sampling Program (2020 to Early
2021) ....................................................................................................................122
10.1.1 Program Summary .............................................................................122
P&E Mining Consultants Inc. Page ii
Omai Gold Mines Corp., Omai Gold Property uMRE & Tech Report, Report No. 480
10.1.2 Results ................................................................................................125
10.2 2021 Drilling Program .........................................................................................127
10.2.1.1 Wenot Deposit Area ...............................................................128
10.2.1.2 Snake Pond, Gilt Creek and Blueberry Hill Prospect Areas ..138
10.3 2022 Drilling Program .........................................................................................142
10.4 2023 Drilling

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