G2 Goldfields Inc. (TSX: GTWO) Provides Exploration Update on 58,000-Acre OKO-AREMU Gold Project in Guyana

Highlights

• G2 announces additional 200 drill holes completed, expanding the OKO-GHANIE gold system.
• Exploration successes include the expansion of Ghanie open pit and identification of new gold zones.
• Updated mineral resource estimate (MRE) to be released in Q1 2025, highlighting significant growth potential.

 G2 Goldfields Inc. (“G2” or the “Company”) (TSX:GTWO; OTCQX: GUYGF) is excited to provide an update on the ongoing exploration efforts at the Company’s flagship 58,000-acre OKO-AREMU gold project located in Guyana. Following the April 2024 release of the mineral resource estimate (“MRE”), which indicated a substantial 922,000 ounces of gold in the “Indicated” category and 1,099,000 ounces in the “Inferred” category, G2 has continued to expand its exploration efforts, drilling a total of 509 diamond drill holes covering 139,180 meters at the 2.2 km long OKO-GHANIE gold system.

Ongoing Exploration and Expansion

Since the April 2024 MRE, G2 Goldfields has completed an additional 200 drill holes, totaling 56,887 meters. These drill results are expected to significantly contribute to the updated MRE, which is set for release in Q1 2025. The additional drilling efforts have provided valuable data that will further define the gold resources at the OKO-AREMU project, strengthening the potential for future development.

The OKO gold resource spans a prominent 2.5 km north-south structure, with significant resources located at both the northern OMZ (Oko Main Zone) and the southern Ghanie deposit. The northern OMZ resource is currently estimated at 688,000 ounces of gold at an average grade of 9.03 g/t Au (Indicated) and 495,000 ounces at 6.38 g/t Au (Inferred). To the south, the Ghanie deposit includes both open-pit and underground resources.

In the latter half of 2024, the exploration program focused on the southern portion of the regional trend, with the goal of achieving the following four objectives:

1. Expansion of the Ghanie Open Pit: The program successfully extended the Ghanie open pit along strike and to depth.
2. Identification of New Gold Zones: Exploration between the Ghanie and Oko deposits revealed potential for new gold mineralization zones.
3. Strike Extensions to the OMZ High-Grade Deposit: Exploration confirmed strike extensions to the high-grade OMZ deposit to the south.
4. Depth Extensions to the Ghanie Central Deposit: The program was successful in identifying further gold mineralization at depth in the central Ghanie deposit.

These accomplishments reflect the significant progress made in the exploration of the OKO-GHANIE system and point to the strong growth potential for the project as additional resources are discovered and defined.

Assay Results and Future Developments

The Company has received assay results from a total of 54 diamond drill holes, with the complete set of results now available on G2 Goldfields’ website. These results further confirm the continuity of gold mineralization across the OKO-AREMU project area.

In addition to the immediate exploration achievements, G2 remains focused on expanding its resource base and advancing the project toward the next stages of development. The upcoming MRE update in Q1 2025 is expected to incorporate the latest drill results, enhancing the Company's understanding of the full scope of the gold system and providing a clearer picture of its potential value.

Looking Ahead

G2 Goldfields is committed to further expanding its footprint in the OKO-AREMU gold project and unlocking additional value. Key next steps for the Company include:

• Updated Mineral Resource Estimate (MRE) (Q1 2025): Incorporating additional drill data to enhance the resource base.
• Continued Drilling (2025): G2 will continue its drilling program to further define and expand the gold resource at the OKO-AREMU project.
• Feasibility Studies (2025): As the resource grows, G2 will focus on advancing feasibility studies for potential future development.

The successful completion of the exploration program in 2024 sets the stage for significant growth at the OKO-AREMU gold project, with G2 Goldfields focused on capitalizing on the exciting exploration potential in Guyana.