not your average exploration company
TRANSCRIPT
NOT YOUR
AVERAGE
EXPLORATION
COMPANY
November 2021
Investor presentation
TSX.V: OMG 2
Forward-looking Statement
This presentation contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements
include, but are not limited to, statements with respect to the future price of gold, copper and other minerals and metals, the estimation of mineral reserves
and resources, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new
deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government
regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.
Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and
phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking
statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or
achievements of Omai Gold Mines Corp. to be materially different from those expressed or implied by such forward-looking statements, including but not
limited to: risks related to international operations; actual results of current exploration activities; conclusions of economic evaluations; changes in project
parameters as plans continue to be refined; future prices of gold, copper and other minerals and metals; general market conditions; possible variations in ore
reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining
industry; uncertainty of access to additional capital; delays in obtaining governmental approvals or in the completion of development or construction
activities. Although Omai Gold Mines Corp. has attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, you should not place undue reliance on forward-looking statements. Specifically, this information is not be construed as an offer to
purchase securities or invest. All readers are encouraged to consult with a lawyer and an investment professional prior to embarking on any investment
scenario regardless.
TSX.V: OMG 3
• Omai averaged over 300,000 oz/yr gold production over 12 year mine life• Once South America’s largest primary gold producer• Outperformed feasibility study - produced 3.7 Moz vs 2.7 Moz
Significant Past Gold Producer - History of Performance
• Inherited quality drilling and mining database• Mineralized shears known to extend below Wenot Pit along 1.7 km• Fennell has historic resource of 9 mt @ 2.4 g/t Au1 open at depth
Untapped Drilled Resources
• 165 km S of capital city, road access plus airstrip for 45 min flight• Remediated mine site with large camp infrastructures• No communities nearby, no issues
Well Located and Amenable to Mining
• Guiana Shield holds significant gold potential, rifted part of the W African belt• Recent acquisitions at premium to market• Majors actively entering the region
Guyana - a Hot Region for Exploration and Mining
• Stable jurisdiction, Mining Act and legacy of British law and business practices• Omai is a famous asset and Government keen to see its untapped potential
developedEnthusiastic Government
• New management focused on realizing potential of 100% owned asset• Cash position of $2.0 m• Fast tracking to an initial Wenot Resource by year end
New Management Brings Clear Corporate Direction
Gold Discovery & Development Potential in Guyana
1 See page 11 on historic resource
Board of Directors & Management
TSX.V: OMG4
RENAUD ADAMS
P.Eng
Non-Executive Chairman
New Gold Inc.
Richmont Mines
Primero Mining
IAMGOLD Corporation
25 years of experience in the mining industry. President, CEO of New Gold Inc. Former CEO of Richmont
Mines Inc.; former COO at Primero Mining Corporation; former General Manager of the Rosebel mine in
Suriname. Bachelor of Engineering degree in Mining and Mineral Processing from Laval University.
ELAINE ELLINGHAM
P.Geo, MBA, M.Sc
Director & Interim CEO
Richmont Mines
Aurania Resources
Alamos Gold
Toronto Stock Exchange
Over 35 years of experience in mineral exploration, corporate development and investor relations for mining
companies. National Leader, Mining Toronto Stock Exchange for 8 years. 15 years as Corporate Director for
exploration & mining companies. Consultant advising companies on going public transactions and M&A.
Holds an M.Sc. and MBA from the University of Toronto and is a Professional Geoscientist (PGeo).
DENIS CLEMENT
B.Comm. LL.B., LL.M.
Director
CGX Energy Inc.
Smith Lyons, now
Gowling WLG
Over 35 years’ extensive experience in finance, law, M&A, banking and management, primarily in the finance,
oil and gas, mining and tech industries. Pioneered the offshore oil and gas exploration industry in Guyana. As
founding President of CGX Energy Inc., negotiated and cosigned the first offshore oil and gas license in 1997.
Practiced international and commercial law at Smith Lyons LLP & Gowlings. Member of the Law Society of
Ontario.
NADINE MILLER
MBA, PEng
Director
JDS
Wesdome
AWZ Ventures
VP at JDS Engineering. Director for Wesdome Gold Mines and a Strategic Advisor at Awz Ventures, a
Canadian-based venture capital fund. A professional engineer (geotechnical) with over 19 years of experience
in engineering design and project management in the mining and transportation industries.
LON SHAVER
CFA
Director
Silvercorp Metals
Raymond James
Merrill Lynch
Over 25 years of capital markets and corporate finance experience. Vice President at Silvercorp Metals,
overseeing investor relations and corporate development activities.
Held investment banking roles with Raymond James and Merrill Lynch, focused on financing and M&A
transactions. B.Comm. degree, with a major in finance, and CFA charterholder.
Experienced and Diverse Technical Team
TSX.V: OMG 5
Renaud Adams
Chairman
P.Eng Experienced Mine Developer
Jason Brewster
VP Operations
Mining Engineer
Andres Rincon
Senior Geologist
Linda Heesterman
Consulting Geologist
John Spurney
Chief Geologist
Elaine Ellingham
President & CEO
Geologist
TSX.V: OMG 6
$349/oz
Average gold price
when Omai was in
production
$1,802/oz
2021 average
to date
Omai produced 3.7 million
Ounces of gold
2021 average
gold price is
$1,802/oz
Today’s Gold Market Offers Opportunity
• Omai was profitable in historically lower gold price environment -average gold price was $349/oz
• No budget or incentive to pursue exploration targets
• Significant opportunity given today’s gold prices
Decision to relocate mill to Rosebel;
dismantling commenced 2003
TSX.V: OMG 7
Untapped Potential in Proven Greenstone Belt
• Located in elephant country, Omai is underexplored relative to local peers
• Low risk exploration targeting:
• historical resource,• deposit expansions,• near-mine targets
• Opportunity to quickly illustrate Omai potential to be more in line with peers
87,845
180,207
411,088
491,479
763,811
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
Omai Mine(1992-2007)
Toroparu Prj(GranColombia)
Aurora Mine(Zijin)
Merian Mine(Newmont)
Rosebel Mine(Iamgold)
Omai is relatively unexplored
Me
ters
Dri
lle
d
that one?
Guyana
Guiana Shield – An Underexplored Greenstone Belt
8
Market interest in Guyana ignited by recent acquisitions:
• Guyana Goldfields (Aurora Mine) acquired by Zijin $323m 35% premium over Silvercorp’s (71% premium) bid - June 2020
• GoldX (Toroparu) acquired by Gran Colombia $252m 39% premium to market [7.4 m oz –253 mt @0.91 g/t Au] – June 2021
• Troy Resources (Karouni) Barrick invested $1.2 m to acquire a 4.9% stake – July 2021
The Guiana Shield: a Paleoproterozoic Greenstone Belt (2.1 Ga) with affinities to Birimian Greenstone Belts of West Africa, but much less explored
West African Shield has ~300M oz of gold
Guiana Shield is less explored - only ~100M oz of gold
Omai - A Tale of Two Pits
TSX.V: OMG 9
Fennell
WenotBroccoli
Hill
Circa 2004
Circa 2001
FennellProduced 2.4 m oz Au
WenotProduced 1.4 m oz
TSX.V: OMG 10
Wenot & Fennell – Evidence of Depth Potential
Aurora Mine, Guyana
JDS, 2018-2000 L
-1000 L
RORY’S KNOLL
2 kilometers depth
Omai Project, Guyana NS
WENOT FENNELL
Zijin acquired Aurora from
Guyana Goldfields June
2020
• Deposits at Zijin’s Aurora Mine illustrate depthpotential to more than 2km in very similar rocks
• Fennell pit was mined to 250m depth andIamgold drilled a resource at depth, identifyingmineralization down to 967m
• Wenot Pit was 190m deep at mid-pit and only50-120m deep at the west end
Max pit depth
Unminedresource
2021 Resource
Target
2022 Resource
Target
12
Current Drilling – To Deliver a Wenot Resource
• Engaged Independent QP for initial Wenot resource by year end
• Currently drilling with two rigs
• Completed 16 holes (9,367m) to date testing the Wenot Shear Corridor to 100 to 250m below pit bottom
• All 2021 holes under Wenot intersected multiple gold-mineralized zones
• Wealth of pre-production and production data assists in modelling geological, structural and grade trends
• Many Cambior and Iamgold drill holes extended below pit bottom providing assays and lithologs
WENOT PIT
Holes in progress
Wenot – Drilling Below Pit Confirms Shear’s Continuity
• Wenot Shear Corridor 200-350m wide extends 1.7 km+ along strike
• Straddles major lithologic contact between volcanics and sediments
• Contact typically hosts a wide well-mineralized feldspar porphyry dike up to 35 m wide
• Multiple near vertical shears intruded by felsic dikes and variably mineralized
650 m13
13
• Fennell gold production of 2.4 million oz avg 1.5 gpt ~9600 oz per vertical meter
• hosted in a 400m diameter quartz diorite intrusive - the “Omai stock”
• Pit bottomed at 250 m in a barren ~180m thick diabase sill
• 2006-07 Iamgold dewatered the pit and drilled ~27,000 meters in 46 holes
• Discovered high grade gold mineralization down 650 m below the sill; deepest hole to depth of 967 metres ended in mineralization
• Impressive intersections:
• 41 intervals > 34g/t Au over 1m • 3 intervals 1000 to 3350 g/t Au • 143m @ 2.6 g/t Au over 1 m
• Modelled 13 subhorizontal mineralized zones; Goldspot re-modelling
Fennell – A Significant Untapped Historic Resource
2.4 moz
Fennell Pit
14
Next steps for Fennell in 2022:
• Model historic data and incorporate Goldspot analysis
• Drill an estimated 4-5 holes to bring historic resource to NI 43-101
• 2 deep holes to test depth potential (similarities to Aurora’s Rory’s Knoll - which extends to 2 km depth)
1 Drilled historic (2007) by Iamgold. Non-compliant resource of 1.4 Moz @ 2.51 g/t gold with a cutoff grade of 1.5 g/t & 15 g/t cap. This resource is included for illustration purposes to indicate the potential of the property and should not be relied upon.
Fennell – Upgrade Resource & Pursue Depth Extension
Historic resource1 Million TonnesGold Grade
(gpt)Contained Gold
(thousands ounces)
Capped @ 15 gpt Au
Indicated 11.18 2.49 894.3
Inferred 6.28 2.56 516.8
~1.5 million
Uncapped
Indicated 11.76 4.32 1,632.5
Inferred 19.69 3.42 871.1
~2.5 million
Aeromagnetic DataReduction to Pole – Highpass Filter
0 600m
Broccoli Hill
Shear splay into metasediments
Wenot Pit
Fennell Pit
Gilt Creek
Dunclain
Snake Pond
FennellHistoric resource
East Wenot Extension
Game Changers - Extensions and Exploration Targets
• Broccoli Hill – another Fennell?
• Eastern Wenot extension zone
• Wenot west shear extension & splays
• West of Fennell mineralization
• Airborne magnetics shows a number ofFennell-type and Wenot-type anomalies
• Intense artisanal miner activity are proven areas for discoveries in the Guiana Shield:
• East end of Wenot• The “boneyard”• NE edge of Broccoli hill
17
Airborne geophysics, lidar,
and drone coverage
completed in 2020
20m @ 6.9 gpt Au
40m@ 1.2 gpt Au
TSX.V: OMG
Next Drilling - East Wenot Extension
• Unmined near-surface gold mineralization
• Shallow drilling to only 50 – 75 m depth in 1993-95 drill program
• 1 km strike of the Wenot contact
• Abundant small-scale alluvial miners historically in this area Meta-sediments
0100 metres
Best intersections:
• 21 m @ 1.3 g/t Au• 9 m @ 2.6 g/t Au• 15 m @ 1.9 g/t Au• 27 m @ 3.6 g/t Au (Sap)
Saprolite & Clay Cover
16
TSX.V: OMG
• Shear Corridor migrates or splays further into the metasediments at the west end of the pit
• West end potential in sediments not pursued due to constraints of mine infrastructure at the time
• Significant potential for open pit resource
West Wenot
Former Mill Site
WEST END OF WENOT PIT LOOKING
WEST
Potential For Near-Surface Deposit
1716
West End of Pit
North
South
Old model assumed
Shear Corridor restricted
to Volcanic Unit
North
Sediments
South
Volcanics
TSX.V: OMG 18
West Wenot – Near Surface Gold Mineralization
shear corridor
TSX.V: OMG 19
Broccoli Hill – Another Fennell ?
• First drilling planned for late 2021
• Significant alluvial workings back to the 1890s on the southern
flank and more recently on western and northeastern flanks
• Broad gold-in-soil anomalies across the 750m x 500m hill, with
one 8m deep auger sample of 12.4 g/t Au
• Airborne magnetics highlights a magnetic low signature similar
to Fennell; another quartz diorite intrusion?
• Excavator trenching commenced recently for saprolite mapping
and sampling quartz veinlets, to refine drill targets
•
Broccoli Hill
Gold-in-soil >0.1 g/t yellow contours
2.4 M ounces
1.3 M ounces
?
Broccoli Hill
Wenot Pit
Fennell Pit
The path to building resources……
20
• Complete current drill program of ~10,000m to test below and adjacent to Wenot pit, targeting NI 43-101 resource by year end
Wenot
• Drill ~4 deep holes commencing late Q1 2022 to allow verification of historic resource
• Initiate deep drill testing for further extension of the gold mineralized Omai Stock at depth
Fennell
• Broccoli Hill trenching and mapping with soil sampling to define drill program for late 2021
• Drill Wenot Extensions, where potential for new near-surface open pitable resources
• Develop exploration plan for areas of intense artisanal mining
Potential
Near-Surface
“Game Changers”
Ticker symbol TSXV: OMG
Shares issued 227 million
Escrowed Shares 57.5 million
Market Capitalization CDN$25 million
Options 16.4 million
Warrants 52.8 million @ avg $0.30
Strategic Shareholders
Silvercorp Metals (TSX & NYSEAM: SVM) 15.2%Sandstorm Gold Royalties (TSX: SSL; NYSE: SAND) ~ 9%
Capital Structure
TSX.V: OMG 21
*As at September 7, 2021
TSX.V: OMG 23
Fennell Pit (1993-2005)Produced 2.4 million ounces (49mt @ 1.5 g/t Au)
Wenot Pit (1993-2002)Produced 1.3 million ounces @ 1.5 g/t Au
Tailings