G2 Goldfields Advancing High Grade Gold Discovery, Potential for Resource Expansion

About G2 Goldfields

G2 Goldfields is a gold exploration and development company focused on discovering and advancing high-grade gold projects in Guyana. The company has a large land package in the country, including the flagship Oko project where they have made a high-grade gold discovery.

The Oko Discovery and Resource

In 2019, G2 Goldfields made a high-grade gold discovery at the Oko project in Guyana after drilling their first holes under the historic Oko pit. Follow up drilling led to the delineation of an initial mineral resource in April 2022 of 974,000 ounces at 9.25 g/t gold inferred and 220,000 ounces at 8.5 g/t gold indicated. This demonstrated the potential for Oko to host a high-grade deposit amenable to low-cost mining.

G2 has continued aggressive drilling at Oko, focused on expanding and better defining the high-grade zones. Over 13,000 meters of drilling since the resource has extended mineralization outside of the current resource model, including intercepts like 8.4 meters at 70 g/t gold. The company is working towards an updated resource estimate by end of 2023 which will incorporate this new drilling.

Delineating High Grade at Oko

A key focus for G2 is delineating zones of +1 oz/ton "super high grade" mineralization within the broader resource at Oko. Based on detailed structural studies, the company has identified controls on the localization of these ultra high-grade zones related to fluid upwelling. G2 is currently drilling targeted holes to trace these high grade shoots down plunge, with results pending. Demonstrating continuity of these zones could significantly increase both tonnes and grade from current resource levels.

Beyond chasing high grade at depth, drilling is also focused on expanding the footprint of mineralization laterally. Step-out drilling has defined at least 3 separate zones over a 2 km strike length - Oko Main, Ghanie South and Ghanie North. All zones are open for expansion.

The Ghanie Discovery

In addition to resource growth at Oko Main, G2 has also made a brand new discovery this year at Ghanie, located 200m south of Oko Main. Early drilling has outlined high grade mineralization over a 500m strike length, to a depth of 200m and widths up to 25m. Highlights include intercepts of 28.5m at 6 g/t gold and 10.5m at 12.9 g/t gold.

This new discovery demonstrates the regional potential along the 20km long Oko-Aramu trend. G2 is still early days in evaluating the size potential at Ghanie but this presents significant upside to existing resources at Oko Main.

Regional Upside & Exploration Pipeline

Beyond resource expansion at Oko Main and Ghanie, G2 controls a district-scale land package covering 28,000 acres over a 17 km long trend. Numerous historic mines and workings demonstrate widespread gold mineralization across the project. Systematic exploration using geophysics, soil sampling and mapping has defined over 20 regional targets for drill testing.

Priority regional targets include Oko NW, Aramu and Birdcage which exhibit similar geology and structural settings as the Oko and Gani discoveries. These targets provide significant potential for new discoveries along trend which could generate substantial value uplift for G2 shareholders.

Infrastructure & Grade - Key Advantages

The Oko project benefits from good infrastructure, located within 10km of paved highways, 100km from the capital Georgetown. High gold grades drive low projected capital and operating costs. Initial metallurgy shows +98% recoveries.

The project development timeline could be as short as 2-3 years from discovery due to these advantages. G2's experienced team has successfully built mines in Guyana before, so has key technical expertise in-country.

Guyana - An Emerging Gold District

Guyana is rapidly emerging as a new gold exploration hotspot, with major companies like Newmont taking notice. Large under-explored greenstone belts exist with proven high grade deposit potential. Exxon's massive offshore oil discoveries are also transforming the country's economy and infrastructure access, benefitting miners.

G2's first mover advantage has allowed it to consolidate a district-scale position in the heart of this emerging gold district. As exploration continues to yield discoveries, G2 could become a prime takeover target for mid-tier and major miners looking for high grade, low cost gold ounces.

The Investment Thesis for G2 Goldfields

• High grade, low risk project with low capex intensity
• Significant resource growth potential from current 1M oz resource base
• Near surface, high margin deposits in mining friendly jurisdiction
• Clear exploration upside with over 20 untested targets along 20km trend
• Undervalued compared to peers, with EV/oz under $50/oz
• News flow from ongoing drilling can be a re-rate catalyst
• Takeover potential as Guyana emerges as a gold district

G2 Goldfield's Oko project offers investors exposure to a high grade gold deposit still in its infancy, with tremendous exploration upside remaining. The company's systematic exploration efforts continue to yield discoveries which have potential to significantly expand resources. G2 offers speculative upside for investors comfortable with exploration risk. Drilling results flowing over the next 6-12 months can act as share price catalysts to narrow the valuation gap with peers. As the company progresses toward feasibility and production, G2 will appear on the radar of mid-tier miners hungry for low cost, high grade ounces to replenish reserves.