Omai Gold Grants Incentive Stock Options

(MENAFN- Newsfile Corp) Omai Gold Grants Incentive Stock Options

January 09, 2026 8:57 AM EST | Source: Omai Gold Mines Corp.

Toronto, Ontario--(Newsfile Corp. - January 9, 2026) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) (" Omai Gold " or the " Company ") announces that it has granted incentive stock options to Officers, Directors, employees and consultants of the Company to purchase up to 10,720,000 common shares of the Company pursuant to the Company's stock option plan. The options have a five-year term at an exercise price of $1.44 per share, with one third vesting upon the date of grant, one third on the first anniversary of the date of grant and the final third on the second anniversary of the date of grant with an expiry date of January 8, 2031.

Qualified Person

Elaine Ellingham, P.Geo., is a Qualified Person (QP) under National Instrument 43-101 "Standards of Disclosure for Mineral Projects" and has 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 Creek deposits, 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. A baseline PEA announced in April 2024, contemplated an open pit-only development scenario and included less than 30% of the new Mineral Resource Estimate for Omai. Three drills are currently active on the property: at Wenot the focus is to optimize the upcoming PEA, 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. An updated MRE and PEA are planned for H1 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 and is connected by road to the two largest cities in Guyana, Georgetown and Linden.

¹NI 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 and on the Company's website.

² Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on , including March 31, 2006 AIF and news release August 3, 2006.

For further information, please see our website or contact:

Elaine Ellingham, P.Geo.
President & CEO
...
+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 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 CIM Standards ") in accordance with National Instrument 43-101- Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators (" NI 43-101 ").

To view the source version of this press release, please visit

Source: Omai Gold Mines Corp.

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