Omineca Partners with PSI to Fully Fund Fraser Canyon Gold Revival

Omineca Mining and Metals Ltd. has forged a strategic partnership with PSI Group, a leader in advanced mining engineering, to fully fund and accelerate the development of the Fraser Canyon Project in British Columbia. Under a newly signed Memorandum of Understanding, PSI will assume all capital and operational expenses for exploration, development, and mining in return for a 75% share of recovered metals, while Omineca retains a 25% zero-cost carried interest. The project targets a historically productive, buried paleochannel along the Fraser River, where the historic Canyon and Tertiary mines collectively produced 1,482 ounces of raw placer gold. PSI plans to deploy modern technologies like roadheaders to expedite excavation and implement an underground pre-sorting operation, aiming for continuous, year-round gold recovery with a significantly reduced carbon footprint compared to traditional methods.

The partnership outlines a comprehensive program beginning with data review, engineering, and submission of a Notice of Work for permitting in Q1 2026, targeting the initiation of a 300-meter test mining bulk sample operation at the South Placer site by Q4 2026. This trial will inform methodology for the North Placer area, with a longer-term framework to mine both areas concurrently and develop a formal mine plan. Additionally, the agreement includes provisions for investigating underlying mineral claims for potential lode gold through groundwork and drilling. PSI can also earn up to a 50% ownership interest in each project component—South Placer, North Placer, and Mineral Exploration—through performance-based milestones, with both companies working toward a definitive agreement. The collaboration reunites the original team from the 1986 bulk sample, combining historical expertise with contemporary engineering to rapidly reinitiate operations.

Omineca's Fraser Canyon Project is part of its broader portfolio in the Cariboo Mining District, which includes the flagship Wingdam gold exploration project. The company, publicly traded on the TSX Venture Exchange and OTCQB, emphasizes that historical production figures are based on pre-NI 43-101 records, with all technical information approved by a qualified person. This strategic move positions Omineca to leverage PSI's two decades of North American and European mining success, potentially unlocking significant value from a known gold-bearing formation while minimizing financial risk through the fully funded partnership structure. For further details, the original release can be viewed on www.newmediawire.com, highlighting the project's potential to contribute to regional economic activity and gold supply.