Omai Gold's Guyana Project Unveils $6.3 Million Ounces Production Over 18 Years

Omai Gold Mines Corp. has announced positive results from its Preliminary Economic Assessment (PEA) for its 100%-owned Omai Property in Guyana, South America.

The PEA mine plan incorporates both the Wenot open pit deposit and the adjacent Gilt underground deposit, supporting production averaging 351,488 ounces of gold per year over an 18-year mine life, with peak year production of 435,667 ounces. Total combined production from the two deposits is estimated at 6,326,775 ounces of payable gold.

At a base case gold price of $3,600/oz, the project has an after-tax Net Present Value5% (NPV) of $4.0 billion, a 24% Internal Rate of Return (IRR), and a payback period of 4.1 years. At the recent spot price of $4,200/oz, the after-tax NPV5% increases to $5.5 billion, IRR increases to 30%, and the payback reduces to 3.4 years.

Elaine Ellingham, President and CEO comments: 'We are very pleased to deliver this PEA, which reinforces the potential for Omai to become a very large-scale mining operation with a clear path to bringing significant economic benefits to the people of Guyana.'