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Omai Gold Mines Adds Second Drill to Accelerate Exploration and Appoints Interim Chief Financial Officer

04.04.2022  |  Newsfile

Toronto, April 4, 2022 - Omai Gold Mines Corp. (TSXV: OMG) (OTC Pink: OMGGF) ("Omai" or the "Company") is pleased to announce the appointments of Sandra Evans, CPA, CGA (Alberta) as the Company's Interim Chief Financial Officer and Igor Zonenschein as Corporate Secretary effective immediately. Both Ms. Evans and Mr. Zonenschein join Omai through Grove Corporate Services Ltd., a specialist corporate management and administration firm based in Toronto, Canada. The Company thanks John Ross for his service as CFO.

Sandra Evans is a Certified General Accountant with 30 years of experience in the energy, mining and manufacturing industries, both domestically and internationally. Ms. Evans has held senior accounting roles in a number of highly successful international exploration companies and brings her hands-on approach to cash management and public reporting to Omai.

Igor Zonenschein is Manager of Governance and Regulatory Affairs with Grove Corporate Services has serves as Corporate Secretary to several TSX, TSXV and CSE listed companies. He holds a BA (Law) and post-graduate certification in International Business Management.

Elaine Ellingham, President and CEO stated, "Our focus continues to be on advancing exploration at our 100%-owned Omai Project in Guyana, to create tangible value and real growth for our shareholders. We have added a second drill at the Omai Gold project in Guyana, which started drilling last week. This will allow us to accelerate our work to expand the Wenot resource, while the first drill can continue to explore the additional nearby targets identified by our exploration team."

"We are a lean and experienced corporate team that are dedicated to working in the best interest of our shareholders. We welcome Sandra, Igor and Grove Corporate Services, who I have worked with in the past, as we further streamline Omai's corporate administrative and financial management functions."

The Company further announces a grant of options to acquire 750,000 common shares at a price of $0.12/share for a period of 5 years in conjunction with the retention of Grove. This grant of options may be subject to regulatory and/or exchange approvals and includes vesting provisions.

ABOUT OMAI GOLD

Omai Gold Mines Corp., through its wholly owned subsidiary Avalon Gold Exploration Inc., holds a 100% interest in the Omai Prospecting License that includes the past producing Omai Gold Mine, and a 100% interest in the adjoining Eastern Flats Mining Permits. Once South America's largest producing gold mine, Omai produced over 3.7 million ounces of gold between 1993 and 2005. In 2022, the Company announced an initial Mineral Resource Estimate on the new Wenot gold deposit. The Company's short-term priorities are to build on the known Mineral Resources, while advancing exploration on key targets, providing a solid opportunity to create significant value for all stakeholders.

For further information, please see our website www.omaigoldmines.com or contact:

Elaine Ellingham P.Geo.
President & CEO
elaine@omaigoldmines.com
Phone: +1 416-473-5351

Greg Ferron
VP Business Development
greg.ferron@omaigoldmines.com
Ph: +1 416-270-5042

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 exploration, trenching and drill programs, 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 the Omai Gold 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119138


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