Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) has announced that a National Instrument 43-101 Technical Report dated October 2, 2026, has been made publicly available in support of the Preliminary Economic Assessment announced on August 19, 2026, for the Wenot Open Pit and Gilt Underground Deposits at its wholly-owned Omai Gold Project in Guyana. The report underpins a base-case after-tax net present value of $4.0 billion at a 5% discount rate using a $3,600 per ounce gold price. Investors may be watching this milestone as Omai advances the project toward a feasibility study.

Key Points

  • Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) announced the release of its NI 43-101 Technical Report for the Omai Gold Project in Guyana
  • The PEA projects average annual gold production of approximately 351,000 ounces over an 18-year mine life
  • After-tax NPV5 of $4.0 billion at $3,600/oz gold, rising to $5.5 billion at $4,200/oz; after-tax IRR of 24% at the base case
  • Investors may monitor progress toward a feasibility study and results from an ongoing 50,000-metre drill program

PEA Economics for the Wenot and Gilt Deposits

The PEA, first announced August 19, 2026, projects 6.327 million ounces of payable gold over an 18-year mine life, with average annual production of 351,488 ounces and a peak year of 435,667 ounces. At the base-case gold price of $3,600 per ounce, the project shows a 24% after-tax internal rate of return and a 4.1-year payback period. At $4,200 per ounce, the IRR rises to 30% and the payback shortens to 3.4 years. Cumulative after-tax cash flows are projected at $8.093 billion over the mine life.

Capital Costs, Operating Costs, and Processing Parameters

Initial capital is estimated at $1.427 billion, with sustaining and growth capital of $928 million over the life of mine. Average cash operating costs are projected at $1,501 per ounce, with all-in sustaining costs of $1,608 per ounce. The process recovery rate is estimated at 93% against an average head grade of 1.35 g/t Au, and the open-pit average strip ratio is 5.9:1. The report was prepared by SLR Consulting (Canada) Ltd. under the supervision of David Robson, P.Eng., an independent Qualified Person under NI 43-101.

Omai Gold Project Infrastructure and Resource Base

The Omai Gold Project benefits from its status as a past-producer, with existing infrastructure including a cleared site, an on-site airstrip, a tailings facility, and road access to Georgetown and Linden. The PEA is supported by a mineral resource estimate of 2.5 million ounces Indicated averaging 2.04 g/t Au and 5.5 million ounces Inferred averaging 1.59 g/t Au. An ongoing 50,000-metre drill program with five rigs is continuing, the release states, aimed at further expanding and optimising the deposits ahead of a planned feasibility study.