- Large world-class gold project in mining-friendly jurisdiction
- 2.0m oz gold (Indicated) + 2.3m oz gold (Inferred) in NI43-101 as of February 20241 with >20,000m of drilling subsequently completed.
- Clearly a major gold camp in the Guiana Shield with 2 large orogenic gold deposits that produced 3.8m oz gold2 with Resources already eclipsing past production.
- Guyana has emerged as a top tier mining-friendly jurisdiction boasting exciting gold discoveries and attracting M&A investment from major gold producers.
- Government very supportive of exploration and development to create jobs and bring infrastructure to the interior of Guyana.
- Brownfields site with road access and skilled workforce nearby
- Cleared site from past production and known metallurgy (92% gold recovery)
- Soon to have paved road access from Georgetown. Nearby town of Linden with skilled mining workforce.
- Proven track record of rapid growth in resources driven by experienced exploration team
- Two NI 43-101 Resource Estimates since Jan 2022, for ~160% growth in gold ounces1 at an overall discovery cost of <US$2.50/oz
- Gold Deposits with robust grades1
- Wenot Deposit: open pit grade of 1.48 g/t Indicated + 1.99 g/t Inferred. 2024 PEA head grade of 1.51 g/t - historical fresh rock at Wenot reconciled 1.67 g/t
- Gilt Creek Deposit: underground grade of 3.22 g/t Indicated + 3.35 g/t Inferred at 1.5 g/t cut-off grade; at higher 2.75 g/t cut-off there remains over one million ounces at over 5 g/t.
- Successful large-scale past production supports lower risk to Re-Development
- Produced 3.8 million oz gold2 at 1.5 g/t Au from 1993-2005 and shut down when the gold price was below US$400/oz. Minimal historical exploration done outside of the mined deposits, leaving deposit extensions and targets undrilled.
- Government very supportive of exploration and development to create jobs and infrastructure in the interior of Guyana
- Environmental permit granted in October 2024 following public comment period
- Management focused on creating superior shareholder value
- Rapid resource growth has and will continue to be the focus to create superior shareholder returns.
- Especially given recent acquisitions in Guyana at significant market premiums, now is the right time to expand gold resources on a world-class project with superior site access and infrastructure.
- Well-financed with Experienced Board
- Completed a C$25m financing with no warrants in February 2025.
- Well-balanced board of directors with complementary skillsets including gold discovery and exploration, capital markets and M&A, and project engineering and advancement.
- 2025 Catalysts:
- Ongoing aggressive exploration program with 3 diamond drills will provide a regular flow of drill results;
- Significant additional drilling of over 25,000m on the Wenot deposit expected to positively impact updated NI43-101 Resource Estimate planned for Q2 2025;
- Updated PEA to include expanded Wenot open pit resource plus first inclusion of Gilt Creek underground in a combined life of mine plan, expected in Q3 2025;
- Environmental Permit granted, paves the way for EISA advancement towards Mining Licence for the Omai Gold Project.
1 NI43-101 Technical Report dated May 21, 2024 “UPDATED MINERAL RESOURCE ESTIMATE AND PRELIMINARY ECONOMIC ASSESSMENT OF THE OMAI GOLD PROPERTY, POTARO MINING DISTRICT NO.2, GUYANA” was prepared by Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc. is available on SEDAR+ and on the Company’s website. It includes a Wenot resource of 834,000 indicated ounces of gold averaging 1.48 g/t Au and 1,614,000 inferred ounces of gold averaging 1.99 g/t Au, and the adjacent Gilt Creek resource of 1,151,000 indicated ounces of gold averaging 3.22 g/t Au and 665,000 inferred ounces of gold averaging 3.35 g/t Au.
2 Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on SEDARplus.ca, including March 31, 2006 AIF and news release August 3, 2006.
