Toronto, Ontario--(Newsfile Corp. - June 24, 2026) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to announce assay results from six additional diamond drill holes from the ongoing 50,000m drilling program at its 100% owned Omai Gold Project in Guyana, South America. The Omai Project continues to deliver impressive results. Hole 26ODD-185 in central Wenot intersected 15 discrete gold zones starting at 200m downhole with 1.63 g/t Au over 23.6m and ending 340m further downhole with 7.22 g/t Au over 2.4m. Five rigs continue drilling at Omai. To date this year, 58 holes have been completed totalling 27,770 metres. Hole 26ODD-208, testing the depth potential of the Gilt Deposit, is progressing well having already reached a depth of 742m.

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

• Hole 26ODD-185
  • 7.26 g/t Au over 34.8m
    • Including 19.94 g/t Au over 2.5m
    • Including 54.05 g/t Au over 1.5m
    • Including 9.83 g/t Au over 3.0m
  • 15.89 g/t Au over 1.9m
  • 1.71 g/t Au over 14.0m
  • 2.10 g/t Au over 10.9m
  • 7.22 g/t Au over 2.4m
  • 2.28 g/t Au over 6.9m

• Hole 26ODD-183
  • 2.96 g/t Au over 14.3m
  • 1.57 g/t Au over 22.5m
    • Including 3.94 g/t Au over 5.5m

• Hole 26ODD-184
  • 2.47 g/t Au over 9.6m
    • Including 6.86 g/t Au over 2.2m
  • 3.24 g/t Au over 8.0m

Elaine Ellingham, President & CEO, commented: "We are pleased to deliver more impressive results from Wenot and we expect drilling to continue through much of 2026. Work continues to progress on the Preliminary Economic Assessment ("PEA") with an estimated 4- to 6-week timeframe. The new mine plan will integrate both the Wenot open pit deposit and the adjacent intrusion-hosted underground Gilt Deposit. The new expanded Mineral Resource Estimate for Omai announced April 14, 2026 will form the basis for the upcoming PEA. The Phase 1 metallurgical test results were provided earlier this week (news release June 22, 2026) and show 93% to 95% recoveries, demonstrating both Wenot and Gilt deposits are amenable to a standard bottle roll leach and carbon-in-leach (CIL) circuit. Gold dissolution rates were rapid with a 32-hour retention time and the mineralogies for both deposits proved to be clean with no deleterious components. We continue to accelerate work programs that will advance the Omai Project through to the next key milestones."

CENTRAL AND WEST CENTRAL WENOT

26ODD-185 (304965E) was collared at Central Wenot and confirms the continuity of mineralization in the main gold zones, up-dip from numerous gold zones encountered in holes 78, 107 and 169 (Figure 1 and 2, Table 1 and 2) Hole 185 intersected all of the main lithologic units in sequence from north to south, including the volcanics, dike corridor, central contact quartz feldspar porphyry ("CQFP"), protomylonite, sedimentary sequence and through to the southern QFP ("SPOR"). At least 15 discrete gold zones were intersected. The most northerly gold zone within the volcanics, at a vertical depth of approximately -120m, assayed 1.63 g/t Au over 23.6m and included 2.28 g/t Au over 6.9m and 8.41 g/t Au over 1.5m.

Numerous gold zones were encountered in the prolific Dike Corridor within the volcanic sequence. The best zone, assaying 7.26 g/t Au over 34.8m, lies at a vertical depth of between -170 to -190m and includes two high grade zones of 19.94 g/t Au over 2.5m and 54.05 g/t Au over 1.5m. Additional zones from the Dike Corridor include 2.10 g/t Au over 10.9m, 15.89 g/t Au over 1.9m, and 1.55 g/t Au over 6.2m. The CQFP assayed 1.71 g/t Au over 14.0m.

Within the southern sediments, five gold zones were intersected, the best being 7.22 g/t Au over 2.4m and 0.7 g/t over 9.5m. Although the sediment-hosted zones are generally not as high grade nor as wide as those within the volcanics, dike corridor and CQFP, the continued addition of these intercepts within the bounds of the Wenot constraining pit will likely lead to further reduction of the strip ratio.

ln H2 of last year, drilling focused on the sediment-hosted gold zones that lie south of the central Wenot contact. This work contributed to the significant increase in the Wenot Inferred MRE announced in April of this year. In the 2024 Preliminary Economic Assessment ("PEA"), the lack of drilling of the sediment-hosted gold zones resulted in a relatively high strip ratio of 7.8 (ratio of waste to mineralized material), since these undrilled areas were treated as waste. However, with last year's drilling and as we continue to increase the drilling density of these southern zones, we expect to further convert "waste" to mineralized material that can be expected to further lower the strip ratio. We expect this will be realized in the upcoming PEA.

26ODD-183, (305030E) drilled from the north, confirms the up-dip continuity of mineralization intersected in the Dike Corridor in hole 119 (3.89 g/t Au over 13.2m and 31.7 g/t Au over 7.5m). Hole 183 intersected six gold zones within the volcanics and Dike Corridor, including 2.96 g/t Au over 14.3m (including 5.40 g/t Au over 5.7m), 2.39 g/t Au over 4.5m and 3.15 g/t Au over 2.6m, approximately 100m vertically above the high-grade intercepts encountered in hole 119. The CQFP assayed 1.57 g/t Au over 22m, 140 m above the intercept of 1.61 g/t Au over 36.4m in hole 119. Two gold zones were intersected within the sediments, the best being 1.10 g/t Au over 8.7m.

26ODD-184 (304630E) is a longer deep hole at West Wenot, collared far to the north and drilling mostly through the volcanics. At the west end of Wenot, most of the gold zones are within the southern sedimentary rock sequence. As a result, hole 184 did not intersect any strong gold zones, however it did identify 8 gold zones within the volcanics, including 2.47 g/t Au over 9.6m, 2.61 g/t Au over 4.5m and 1.45 g/t Au over 6.4m. Many of these correlate well with gold zones above in holes 88 and 93.

The CQFP was narrow but an adjacent diorite dike with quartz-ankerite veining and sulphides assayed 3.24 g/t Au over 8.0m. The CQFP and adjacent sheared lithologies assayed 1.05 g/t Au over 8.1m. Four gold zones were intersected in the sediments, the best being 3.53 g/t Au over 3.0m.

Wenot Far East

Drill holes 186 and 182 were drilled at the far east end of the Wenot deposit, 400m east of the past-producing pit. Hole 25ODD-142 drilled late last year and located only 200m west of hole 186, intersected 11.07 g/t Au over 14.7m at a depth of -220m. This provides considerable incentive to continue exploration in this area, where limited drilling has been done. The Wenot shear continues through this area with the usual sequence of lithologies encountered in both holes. Hole 186 was drilled from the south and hole 182, located on a section line approximately 50m east of hole 186, was drilled from the north.

26ODD-186 (306332E) intersected three gold zones within the volcanic sequence of rocks on the north side of the central contact. These include 0.89 g/t Au over 2.3m within a felsic dike. The best intercept of 3.01 g/t over 5.7m was associated with sulphide-bearing quartz-ankerite veins with some visible gold, occurring within a zone of sheared volcanic rocks. A third gold zone assayed 2.13 g/t Au over 1.3m in altered volcanics.

26ODD-182 (306380E) drilling to the south tested across the volcanic sequence and remained in the volcanics through to the end of the hole. One intercept of 0.99 g/t Au over 1.2m likely correlates to a gold zone that assayed 2.56 g/t Au over 6.9m approximately 130m above in an old hole drilled by Placer Dome (circa 1990). Further downhole, a couple of occurrences of visible gold were noted, but the assay returned only 0.9 g/t Au over 1.0m. These two holes were drilled to explore the Wenot central shear in this far east area. Hole 182 intersected the contact between the northern volcanics and the southern sedimentary rocks at a depth of approximately -150m and as expected around 601425N. However, hole 186 did not encounter the contact, even as far south as 601275N, 150m south of where it is located near surface. This opens opportunities for further exploration to the south in this area as some flexure or folding is suggested.

Geophysical Anomaly Tested

26ODD-187 was drilled to test a geophysical anomaly (a magnetic high) that extends northeast from the Wenot deposit, which itself is associated with a strong magnetic geophysical signature. Hole 187 is one of two initial holes to test this anomaly. The hole drilled through a sequence of andesitic volcanics with minor diorite dikes. A minor gold zone, encountered within andesite 222m downhole, returned 0.50 g/t Au over 1.5m. A deformed quartz vein with disseminated pyrite and patchy alteration that resembled parts of Wenot, appeared interesting but assayed only 1.0 g/t Au over 3.0m. Results from a second hole are pending.

Figure 1. Plan Map of Wenot Deposit Showing Drill Hole Locations

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Figure 2. Cross-section for Hole 26ODD-185

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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, a certified laboratory 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.

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 5.0m internal dilution is applied. All grades are uncapped unless otherwise noted.

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 April 2026, the Company announced an updated NI 43-101 Mineral Resource Estimate¹ (MRE) which included expansions to both the Wenot Deposit and Gilt Deposit. Most significantly, the Wenot Indicated MRE increased 49.8% to 1,453,000 ounces ("oz") of gold with an average grade of 1.59 g/t Au, contained in 28.4 million tonnes ("Mt") and the Wenot Inferred MRE increased 7.6% to 3,999,000 oz grading 1.35 g/t Au, contained in 92.4 Mt. Similarly, the adjacent Gilt Deposit saw an overall increase in ounces over the previous MRE. Gilt's Inferred MRE increased 120% to 1,465,000 oz averaging 3.22 g/t Au (in 14.2 Mt), while the Indicated MRE decreased by 9.5% to 1,042,000 oz averaging 3.33 g/t Au (in 9.7 Mt).

Five diamond drills are working on a 50,000m drilling program for 2026: at Wenot the focus is to further test the limits of the deposit, including both east and west, and to commence converting the large Inferred MRE to Indicated. Additional drilling will continue to explore certain known gold occurrences for possible near-surface higher-grade satellite deposits. Following the current updated MRE, an updated PEA is planned for Q3 2026 to include the expanded Wenot open pit deposit and the adjacent Gilt Creek underground deposit. 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 site significantly benefits from existing infrastructure, including an on-site airstrip, and is connected by road to the two largest cities in Guyana, Georgetown and Linden.

¹ Omai Gold Mines news release titled "Omai Gold Increases Indicated Mineral Resources to 2.5 Moz Au at 2.04 g/t Au (38.1 Mt) and Inferred to 5.5 Moz Au at 1.59 g/t Au (106.6 Mt) with Expansion of Wenot and Gilt Deposits" dated April 14, 2026.
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.

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

Table 2. Drill Hole Coordinates

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 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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Source: Omai Gold Mines Corp.