This morning, Omai Gold Mines Corp. (OMG:TSXV, OMGGF:OTC) announced assay results from the ongoing 2025 drill campaign at its 100% owned Omai Gold Project in Guyana. The Company reported results for three holes and one hole extension, totalling 2,607m, all in resource expansion areas. A total of 20 holes have been completed YTD, totalling 13,700m and the program is expected to surpass the already expanded 15,000m drill program. Assays are pending for 16 holes, and the updated resource is expected in the next 2-3 months. We are maintaining our BUY rating and $0.80/share target price on Omai Gold Mines. Highlights from the four holes reported today include (Figure 1): • Hole 25ODD-103 & 103W: 3.56 g/t Au over 21.8m, 3.93 g/t Au over 7.0m, and 5.66 g/t Au over 4.3m • Hole 25ODD-102: 28.04 g/t Au over 9.3m (8.51 g/t Au over 9.3m capped at 70 g/t), including 252.36 g/t Au over 1.0m, 8.98 g/t Au over 5.0m and 3.36 g/t Au over 12.5m • Hole 25ODD-105 & 105W: 2.32 g/t Au over 19.8m • Hole 24ODD-085EXT: 2.02 g/t Au over 18.7m As expected, the positive drill results over the last year have pushed the expected timeline for the release of the updated resource estimate by a couple months, however, this should be viewed as a positive as the resource continues to grow by the day. The mineral resource is now expected to be published late July or early August with the updated PEA expected to follow the resource by a month or two. We remind readers that the updated PEA will include the Gilt Creek deposit (which was excluded from the last one) as well as likely a much larger resource at Wenot. Find our research note where we discuss our estimates for the updated PEA in our note published February 6th, here. Our Take Today’s announcement builds on a series of positive drill results outside the current resource shell and continues to add ounces to the already large 2.45Moz deposit at Wenot. The results reported today would typically be exciting, but given the extremely impressive results reported lately, these are becoming the status quo. As a reminder, just this year, Omai has intersected some of the best intercepts in the industry (4.48 g/t Au over 57.0m and 1.0 g/t Au over 774m), all of which will be integrated into the upcoming MRE. We are expecting several batches of drill results to be reported between now and the MRE, making for a news-heavy next couple of months. Following the 1,148m drill hole at Gilt Creek in February this year (1.0 g/t Au over 774m), Omai is planning an additional hole to further test for potential expansion and collect useful data for the upcoming PEA.