Omineca's Mining Partner PSI Submits Dewatering Application for Fraser Canyon Placer Gold Project

Omineca Mining and Metals Ltd. (TSXV: OMM) (OTCQB: OMMSF) announced that its mining partner, PSI Group, has submitted an application to begin dewatering the Fraser Canyon underground paleoplacer gold recovery project, located 12 kilometers northwest of Quesnel, British Columbia. This step marks a critical milestone toward reinitiating gold recovery operations, which could begin later this year once all permits are secured.

PSI is also preparing a Notice of Work submission that includes a long-term mine plan and an engineered ground support management program. The company plans to re-enter the underground workings and immediately begin mining unrecovered placer gold-bearing material remaining between historic crosscuts within the paleochannel. The project holds significant potential, as historical operations at the Canyon and Tertiary Mines collectively produced 1,482 ounces of raw placer gold up to 1986.

Both PSI and Omineca have secured letters of full support from the Lhtako and Nazko First Nations, as well as the City of Quesnel. This backing underscores the commitment to responsible development that creates meaningful benefits for local communities and the province. PSI has already begun preparatory work, including mine engineering, planning, and equipment procurement, with a focus on modern mining methods. The use of self-propelled roadheaders for continuous excavation and an underground pre-sorting and gold recovery system aim to dramatically increase output compared to historical drill-and-blast techniques.

PSI has completed several key activities, including a mechanistic structural design and 3-D stress-strain model of the underground workings, and has established mechanical mining systems to enhance safety and efficiency. Once dewatering is complete, a 3-D laser survey will inform ground support design. Advanced ground support systems developed with HMI Company will enable 100% extraction and real-time backfilling using mine tailings, reducing surface impact and carbon footprint. An archaeological assessment has also been completed in conjunction with Tracker GPS Survey & Mapping Ltd., with protocols shared and well received by First Nations.

Historically, the Fraser Canyon Property claims extend 11 kilometers along the Fraser River, encompassing a buried paleochannel. In 1986, the Canyon Mine produced 10,804 loose cubic yards of pay gravel over 100 days, recovering 421.634 troy ounces of refined gold and 40.342 troy ounces of silver. As Omineca's mining partner, PSI will fully fund all costs in return for a 75% share of recovered metals, with Omineca retaining a 25% carried interest.

The scientific and technical information in this release has been approved by Stephen Kocsis, P.Geo., an independent qualified person under NI 43-101. Omineca's flagship Wingdam hard rock exploration and placer gold recovery projects are located 45 km east of Quesnel, encompassing over 61,000 hectares and 15 linear kilometers of placer claims. The Fraser Canyon Project, part of Omineca's original acquisitions in the Cariboo Mining District, is now poised to reinitiate underground paleochannel development for placer gold recovery.