Omai Gold's New Wenot Zone Discoveries: A Catalyst for Growth in the Guiana Shield

The recent drilling results at Omai Gold's (OMAI) Wenot deposit in Guyana's Guiana Shield have unveiled a transformative opportunity for investors. The discovery of a high-grade gold zone outside the boundaries of the 2024 Mineral Resource Estimate (MRE) has positioned the company as a near-term development play with significant upside potential. With an updated MRE expected by Q3 2025, Omai stands at a pivotal moment to redefine its resource base and unlock value for shareholders. Let's dissect why these discoveries matter and why investors should pay close attention.

The New Zone: Expanding Resources Beyond the 2024 MRE

The newly identified West Wenot zone, located 100 meters north of previously mapped areas, has delivered standout intercepts, including 2.63 g/t Au over 27.5 meters with a high-grade segment of 4.68 g/t Au over 9.5 meters. Crucially, this zone lies entirely outside the 2024 MRE, which reported 834,000 indicated ounces and 1.6 million inferred ounces for Wenot. This means the upcoming MRE could see a material increase in resources, particularly in the inferred and indicated categories. The zone's vertical depth of 315 meters and northwest extension suggest it could form part of an expanded open-pit or underground mine plan, enhancing the project's scale and economics.

Drilling Efficiency and Strategic Advantages

Omai's 2025 drilling program has already exceeded its 15,000-meter target, with 24 holes completed and results pending for 12 additional holes. The program's efficiency underscores management's execution capability. Highlights include:- Hole 25ODD-109/109W: Delivered 2.37 g/t Au over 15.0 meters near the surface, supporting a potential low-strip starter pit in West Wenot. Such a pit could offer early production with minimal upfront costs, a critical path to value creation.- Hole 25ODD-111: Extended mineralization below the 2024 PEA pit shell, intersecting 4.87 g/t Au over 9.5 meters, signaling robust continuity at depth.- Dike Corridor: A historical high-grade zone returned 2.64 g/t Au over 21.0 meters in Hole 25ODD-106, reinforcing the deposit's structural complexity and resource potential.

These results, combined with the discovery of visible gold occurrences and stockwork veining, highlight the deposit's richness and the effectiveness of Omai's targeting strategy.

The Q3 2025 MRE: A Game-Changer for Valuation

The updated MRE, expected to incorporate all 2025 drilling results, could redefine Omai's project economics. The current 2024 MRE already underpins a preliminary economic assessment (PEA) with a 10-year open-pit mine plan for Wenot. However, the new zone and deeper intercepts could:1. Expand the resource base: The West Wenot zone and other extensions may add significant ounces, potentially doubling Wenot's resource size.2. Improve project economics: A starter pit could reduce payback periods, while underground potential at Gilt Creek (adjacent to Wenot) may enhance long-term value.3. Attract strategic interest: A robust MRE could draw the attention of majors seeking high-grade assets in stable jurisdictions like Guyana, which offers existing infrastructure and proximity to roads.

The reflects investor anticipation of these catalysts. With the MRE deadline approaching, the stock is poised for a re-rating once the updated numbers are released.

Path to Development: A Near-Term Play

Omai's focus on low-strip starter pits and multi-stage mine plans aligns with the current gold market's demand for projects with clear development pathways. The Guiana Shield, a world-class gold belt, has seen major discoveries (e.g., Saddle Ridge, Ahafo), and Omai's location within this region bodes well for scalability. With Guyana's mining-friendly policies and existing infrastructure—including proximity to the Omai River for transportation—the project's development costs could be minimized compared to greenfield sites.

Why Act Now?

• Catalyst-driven upside: The Q3 MRE and subsequent PEA update will provide clarity on resource size and economics, creating a catalyst-driven opportunity for investors.
• Low valuation risk: The stock trades at a discount to peers, offering asymmetric upside if the MRE exceeds expectations.
• Strategic asset in a top-tier jurisdiction: Guyana's stability and the Guiana Shield's proven geology reduce geopolitical and exploration risks.

Conclusion: A Compelling Near-Term Opportunity

Omai Gold's new discoveries at Wenot are more than just incremental results—they represent a structural shift in the project's potential. With an MRE update imminent and a clear path to development, the company is primed to deliver a significant value inflection point in Q3 2025. For investors seeking exposure to a high-grade, low-cost gold asset in a world-class region, Omai Gold presents a compelling case for immediate action. The clock is ticking—don't miss the window before the MRE transforms this story into a mining success.