New Risk • Dec 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 23% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.3m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 14% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$14.4m market cap, or US$10.4m). Announcement • Dec 05
Omineca Mining and Metals Ltd. Begins Follow Up Diamond Drill Program at Wingdam Exploration Project in the Cariboo Mining District of South Central British Columbia Omineca Mining and Metals Ltd. announced that it has initiated its 2025 winter drill program at the Wingdam exploration project in the Cariboo Mining District of south central British Columbia. TerraLogic Exploration Inc. of Cranbrook, BC, have provided a high priority follow up program for 2025. The drill crew has been mobilized to conduct the 8 hole, 4,000 meter diamond drill program. Drilling is expected to run through December 2025 with results anticipated to be reported early in the new year. This exploration program continues to be based on the assumption that Lightning Creek may have once flowed west to east before reversing to its present westward flow. The lode source of the rich placer gold beneath Lightning Creek may be related to the Eureka Thrust Fault system, located downstream (west) of the Wingdam underground placer project where 173.4 ounces of placer gold was recovered from a single 2.4 meter wide by 23.5 meter long crosscut sample in 2012. The previous 2024 program was successful in intercepting anomalous gold, copper, lead and zinc concentrations located downstream from the Wingdam underground placer projects. The anomalous concentrations were associated with semi-massive to massive sulphides in ultramafic rocks, mineralized quartz veins and veinlets, and the Eureka Fault zone and its peripheral structures. This year's drill program is designed to follow up on the mineralization found in the 2024 program with continuation drilling further to depth at elevations below the Wingdam underground placer workings, specifically in areas down dip of mineralization in the ultramafic unit intersected in WD24-37. Additional drilling will take place southeast of WD24-37 along strike of the mapped Eureka Thrust Fault towards the UAV magnetic high. Other drilling will consist of deep holes to determine if the quartz veins identified in holes WD24-38 to 40 continue at depth. A progress report from the mining contractor at the Wingdam underground paleoplacer project is to follow and will be covered in a separate update. 
