Omai Gold Appoints John Jentz as Independent Director

Toronto, Ontario--(Newsfile Corp. - September 13, 2022) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai" or the "Company") is pleased to announce the appointment of Mr. John Jentz as an independent Director of the Company. Mr. Jentz replaces Mr. Denis Clement who has resigned to pursue another opportunity and the Company thanks him for his commitment through the formative stages of the Company. The Company's CEO, Elaine Ellingham, Director Don Dudek and our newly appointed Director, John Jentz will be at the Beaver Creek Precious Metals Summit this week in Colorado.

Mr. Jentz is an experienced mining professional and corporate director. During his 20+ year career in mining, Mr. Jentz has held roles across investment banking and mining corporates - most notably in recent positions of VP Corporate Development of Semafo Gold and Director of North American Palladium, each of which were acquired for ~C$1B in the last 3 years. He has a strong strategic mindset, capital markets experience which spans institutional, HNW and retail investor bases, and a corporate finance skill base relevant across the capital structure. Mr. Jentz has an HBSc (Actuarial) from the University of Western Ontario, and MBA from McMaster University and is both a Charted Accountant (CA) and Chartered Professional Accountant (CPA). He is currently a Director of Consolidated Uranium Inc. and Mawson Gold Limited.

Elaine Ellingham, CEO, commented "I am very pleased to welcome John to the Board. His wealth of experience both in the capital markets and with successful mining corporations will further strengthen our Board as we continue to unlock the potential of our Omai gold project in Guyana. We are nearing our second major milestone in one year, with an updated NI 43-101 resource expected in mid-October. John's experience will be valuable as we continue our strategy of building resources and pursuing new discoveries, to drive increased value for all stakeholders."

The Company also wishes to acknowledge Mr. Clement for his contributions to Omai and we wish him the best in his next venture. In a statement Mr. Clement said, "As a result of my recent appointment as President and CEO of Critical Minerals Americas Inc., I have determined that I must devote my full time and attention to this exciting new company. I want to thank the shareholders of Omai for their ongoing and loyal support, and I am confident that Omai is well on the path to success."

In connection with the appointment of Mr. Jentz, the Company has granted incentive stock options to purchase 1,000,000 common shares of the Company. The options have a five-year term with an exercise price of $0.07 per common share.

ABOUT OMAI GOLD

Omai Gold Mines Corp., through its wholly owned subsidiary Avalon Gold Exploration Inc., holds a 100% interest in the Omai Prospecting License that includes the past producing Omai Gold Mine, and a 100% interest in the adjoining Eastern Flats Mining Permits. Once South America's largest producing gold mine, Omai produced over 3.7 million ounces of gold between 1993 and 2005. In 2022, the Company announced an initial Mineral Resource Estimate on its new Wenot gold deposit. The Company's short-term priorities are to build on the known Mineral Resources, while advancing exploration on key targets, providing a solid opportunity to create significant value for all stakeholders.

For further information, please see our website www.omaigoldmines.com or contact:

Elaine Ellingham P.Geo.
President & CEO
elaine@omaigoldmines.com
+1-416-473-5351

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.

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 exploration, trenching and drill programs, 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 the Omai Gold 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136909

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