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Omineca Lode Gold Exploration Program Update - Drilling Has Commenced

V.OMM | 2 hours ago

SASKATOON, SK, Nov. 15, 2024 /CNW/ - Omineca Mining and Metals Ltd. (TSXV: OMM) (OTCQB: OMMSF) (TSXV: OMM.RT) ("Omineca" or the "Company"), is pleased to report that road access and first drill pads have been completed and diamond drilling has commenced on the Wingdam hard rock exploration project located in the Cariboo Mining District of south central British Columbia. As detailed in the previous exploration update (see News Release September 13, 2024), TerraLogic Exploration Services has designed a 10 hole program consisting of approximately 4,000 meters in close proximity, but importantly downstream of the Wingdam underground placer gold recovery project (see News Release November 7, 2024). The holes are on trend to the west of the Eureka Thrust Fault (see Map 1) with several sited at lower elevations than previous programs with drill lengths of approximately 400 meters targeting bedrock at and below the depth of the underground gold-enriched paleochannel.

The 8 drill pads for the 10 hole program are situated on or to the west of the Eureka Thrust Fault where several orogenic gold systems have been found along the western side of this geological trend. Of note, Spanish Mountain Gold Ltd.'s 2.34 million oz deposit 50 kilometers to the south of Wingdam, and Karus Gold's high grade FG discovery 125 kilometers south of Wingdam are both located just west of the Eureka Thrust Fault. More recently, Golden Cariboo Resources (CSE: GCC) has encountered visible gold in 4 holes at its Quesnelle Gold Quartz project 50 kilometers north of Wingdam also located along and to the west of the Eureka Thrust Fault.*

With the first drill hole nearly completed, the Company will provide updates as the program progresses and results are received.

*from GCC news release October 29, 2024

Qualified Person

All scientific and technical information in this news release has been prepared by, or approved by Stephen Kocsis, P.Geo., Lead Geologist. Mr. Kocsis is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Omineca Mining and Metals Ltd.

Omineca Mining and Metals Ltd.'s flagship Wingdam gold exploration and placer recovery projects are located along the Barkerville Highway 45 km east of the City of Quesnel. The Wingdam Property includes mineral tenures totaling over 61,392 hectares (613 square kms) and in excess of 15 linear kilometers of placer claims, both encompassing the Lightning Creek valley where topographic conditions created thick layers of overburden, which preserved a large portion of a buried paleochannel containing placer gold-bearing gravels. Omineca also has an exploration and diamond drill program currently underway exploring for the potential multiple hard rock sources of the placer gold at Wingdam.

Forward Looking Statements

This release includes forward-looking statements regarding Omineca and its business. Such statements are based on the current expectations and views of future events of Omineca's management. In some cases, the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of the failure to secure TSX Venture Exchange of the grant of options and many other factors beyond the control of Omineca. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Forward-looking statements speak only as of the date on which they are made and Omineca undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

Neither 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.