# 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 Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/omai-gold-increases-indicated-mineral-resources-to-2-5-moz-au-at-2-04-g-t-au-38--c8a7fbf0-f004-48a7-8d72-6ff8201ec8fc Original source: https://orestocks.com/company/OMG.V/press-releases/5937577607845879 Publisher: orestocks Original announcement: 2026-04-14T19:11:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-01T04:20:19.138Z Atlas analysis updated: 2026-10-01T04:20:19.138Z - Company: Omai Gold Mines Corp. - Ticker: OMG - Exchange: TSXV - Region: Guyana - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-10-01 04:20:19 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Omai Gold has announced an updated Mineral Resource Estimate for its Omai Gold Property in Guyana, significantly increasing total project ounces. The update features a 49.8% increase in Wenot Indicated gold ounces and a 120.3% increase in Gilt Inferred gold ounces, supported by a higher gold price assumption of $3,000/oz. Reasoning: The update delivers substantial scale increases in gold ounces across the project, driven by both expansion and category conversion, despite some grade dilution in the Inferred categories. - Positive factor: Significant tonnage and ounce growth in both Indicated and Inferred categories - Positive factor: Successful conversion of Inferred to Indicated at Wenot \(+49.8% ounces\) - Positive factor: Major expansion of Gilt Inferred resource \(+120.3% ounces\) - Positive factor: Increased gold price assumption used in modeling \($3,000/oz\) - Positive factor: QA/QC disclosed with certified labs and QP sign-off - Negative factor: Grade decline in Wenot Inferred \(-25.8%\) - Negative factor: Grade decline in Gilt Inferred \(-3.9%\) - Negative factor: Indicated tonnage decrease at Gilt \(-9.5%\) Facts used in scoring: 6 ## Classification and evidence **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: Wenot Indicated MRE increased by 49.8% through conversion of Inferred ounces. Evidence · text > The recent drilling successfully added 483,000 ounces to bring Wenot's Indicated MRE to 1.45 million ounces, representing a 49% increase. **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Combined project Indicated tonnage increased significantly. Evidence · text > combined updated MRE ... 2,495,000 ounces of gold \(Indicated MRE\), a 17.6% increase **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Alan J. San Martin, P.Eng. is named as the Qualified Person. Evidence · text > Mr. Alan J. San Martin, P.Eng., Principal Resource Geologist of SLR, is the Qualified Person \(QP\) **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with NI 43-101 standards. Evidence · text > The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum \(CIM\), Standards on Mineral Resources and Reserves Definitions \(2014\) and Best Practices Guidelines \(2019\). **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades for different mining methods and rock types are explicitly stated. Evidence · text > Mineral Resources are reported at cut-off grades of 0.20 g/t Au for soft rock, 0.30 g/t Au for hard rock within the open pit, and 1.70 g/t Au for underground shapes. ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-increases-indicated-mineral-resources-to-2-5-moz-au-at-2-04-g-t-au-38--c8a7fbf0-f004-48a7-8d72-6ff8201ec8fc#fact-resource-facts-0) gold #### Identity - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, Elaine Ellingham - Resource group id: resource:320e4b7ecb28549ea2ef - Deposit or zone: Omai Gold Property - Mining method: combined - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 38100000 - Grade: 2.04 - Grade Unit: g/t - Contained Metal: 2495000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-14T00:00:00.000Z Reasoning: Significant growth in total project Indicated gold ounces. - Positive factor: 17.6% increase in ounces vs August 2025 MRE Evidence · text > combined updated MRE \(over the August 2025 MRE\) of: 2,495,000 ounces of gold \(Indicated MRE\), a 17.6% increase, averaging 2.04 g/t Au in 38.1Mt #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-increases-indicated-mineral-resources-to-2-5-moz-au-at-2-04-g-t-au-38--c8a7fbf0-f004-48a7-8d72-6ff8201ec8fc#fact-resource-facts-1) gold #### Identity - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, Elaine Ellingham - Resource group id: resource:68019521063ec2c0c464 - Deposit or zone: Omai Gold Property - Mining method: combined - Ownership percent: 100 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 106600000 - Grade: 1.59 - Grade Unit: g/t - Contained Metal: 5465000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-14T00:00:00.000Z Reasoning: Substantial increase in total project Inferred gold ounces. - Positive factor: 24.7% increase in ounces vs August 2025 MRE Evidence · text > 5,465,000 ounces of gold \(Inferred MRE\), a 24.7% increase, averaging 1.59 g/t Au in 106.6 Mt #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-increases-indicated-mineral-resources-to-2-5-moz-au-at-2-04-g-t-au-38--c8a7fbf0-f004-48a7-8d72-6ff8201ec8fc#fact-resource-facts-2) gold Historical result Needs review: historical\_restatement #### Identity - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, Elaine Ellingham - Resource group id: resource:4f590d3dfaf3eecca5d4 - Deposit or zone: Wenot Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 28400000 - Grade: 1.59 - Grade Unit: g/t - Contained Metal: 1453000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-04-14T00:00:00.000Z Reasoning: Strong growth in Indicated ounces and grade due to conversion and infill. - Positive factor: 49.8% increase in ounces - Positive factor: 8.9% increase in grade Evidence · text > 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 \("Mt"\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-increases-indicated-mineral-resources-to-2-5-moz-au-at-2-04-g-t-au-38--c8a7fbf0-f004-48a7-8d72-6ff8201ec8fc#fact-resource-facts-3) gold Historical result Needs review: historical\_restatement #### Identity - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, Elaine Ellingham - Resource group id: resource:89f1d589bdf3d6cbc0f7 - Deposit or zone: Wenot Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 92400000 - Grade: 1.35 - Grade Unit: g/t - Contained Metal: 3999000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-04-14T00:00:00.000Z Reasoning: Ounce growth offset by significant grade dilution from new extensions. - Positive factor: 7.6% increase in ounces - Negative factor: 25.8% decrease in grade Evidence · text > Wenot Inferred MRE increased 7.6% to 3,999,000 oz grading 1.35 g/t Au, contained in 92.4 Mt #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-increases-indicated-mineral-resources-to-2-5-moz-au-at-2-04-g-t-au-38--c8a7fbf0-f004-48a7-8d72-6ff8201ec8fc#fact-resource-facts-4) gold #### Identity - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, Elaine Ellingham - Resource group id: resource:ef6a04a5f35765e6cb6d - Deposit or zone: Gilt Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9700000 - Grade: 3.33 - Grade Unit: g/t - Contained Metal: 1042000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-14T00:00:00.000Z Reasoning: Indicated resource tonnage decreased due to more restrictive classification criteria. - Positive factor: 3.4% increase in grade - Negative factor: 9.5% decrease in ounces Evidence · text > Gilt's ... Indicated MRE decreased by 9.5% to 1,042,000 oz averaging 3.33 g/t Au \(in 9.7 Mt\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/omai-gold-increases-indicated-mineral-resources-to-2-5-moz-au-at-2-04-g-t-au-38--c8a7fbf0-f004-48a7-8d72-6ff8201ec8fc#fact-resource-facts-5) gold Historical result Needs review: historical\_restatement #### Identity - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, Elaine Ellingham - Resource group id: resource:2f10cea4d07cec34f2b5 - Deposit or zone: Gilt Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 14200000 - Grade: 3.22 - Grade Unit: g/t - Contained Metal: 1465000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-04-14T00:00:00.000Z Reasoning: Massive expansion of Inferred resource through depth drilling and re-examination of upper zones. - Positive factor: 120.3% increase in ounces - Negative factor: 3.9% decrease in grade Evidence · text > Gilt's Inferred MRE increased 120% to 1,465,000 oz averaging 3.22 g/t Au \(in 14.2 Mt\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.