G2 Goldfields Makes High-Grade Gold Discovery at Ghanie South Zone

• G2 Goldfields has made a significant high-grade discovery at the Ghanie South Zone, located within the 19,200-acre OKO Project, in Guyana.
• The company's previous resource estimate was 1.2 million ounces at about 9 grams per ton, and they have been drilling for 18 months, uncovering high-grade mineralization.
• The company brought in a structural expert to better understand the controls on high-grade mineralization, leading to successful targeting of high-grade zones.
• The high-grade mineralization is present in several shear zones with varying orientations, with grades ranging from 20 to 30 grams per ton.
• G2 Goldfields plans to release a new resource estimate by the end of the year or early next year, potentially changing the economic outlook and adding value to the project. The company is also considering a standalone project or a merger with a neighboring company.

About G2 Goldfields

G2 Goldfields is a Canadian gold exploration and development company focused on discovering and advancing high-grade gold projects in Guyana. The company has assembled a highly experienced team with a track record of major gold discoveries and mine development in the Guiana Shield region of South America.

G2's flagship project is the 19,200-acre OKO project located in Guyana's Cuyuni-Mazaruni region. The OKO project contains multiple gold deposits along a 20km corridor, including the Oko Main Zone, Ghanie Zone, and Aremu Zone. In April 2022, G2 announced a maiden resource estimate for the Oko Main Zone of 974,000 ounces of gold inferred and 220,000 ounces of gold indicated. The company continues to expand the resource through an aggressive drilling program.

Interview with CEO & Director, Dan Noone

Ghanie South Discovery

G2 has made an exciting new high-grade gold discovery at the Ghanie South Zone, located within the company's OKO project.

Hole GDD-68A intercepted 11 meters grading 37.9 g/t gold from 148 meters downhole. This exceptional result builds on an earlier high-grade intercept in hole GDD-06 of 3 meters grading 17 g/t gold from 58 meters.

The Ghanie South Zone is situated approximately 300 meters south of the Ghanie Main Zone. It represents a new zone of high-grade mineralization along the 1.2 kilometer long Ghanie trend.

According to G2's CEO Dan Noone, "We are leveraging our understanding of the Ghanie Central Zone to target high grade on other sections of the trend. These results demonstrate the potential for additional high-grade discoveries throughout the Oko district."

Ongoing Drilling Program

Drilling is ongoing at the Oko Main Zone and Ghanie Central Zone with two rigs targeting down plunge extensions of the high-grade mineralization. The goal is to expand the current resource base through step-out drilling along strike and at depth.

Meanwhile, shallow drilling is being conducted across the broader OKO project area to test near-surface anomalies and generate additional targets. The company aims to systematically explore the entire 20km corridor between the Oko and Aremu trends.

This aggressive drill program is a key part of G2's strategy to rapidly advance the OKO project. The project has demonstrated potential for multiple deposits containing exceptionally high grades.

According to Noone, "We have probably drilled about 50,000 meters now. Between now and Christmas, we'll probably get about another 10,000 meters done."

Importance for G2 Goldfields

The discovery of high-grade mineralization over a wide area at Ghanie South has important implications for G2 Goldfields.

Confirms Upside for Resource Growth

The Ghanie South results provide proof of concept that additional high-grade zones exist along the Ghanie trend and across the broader OKO project. This points to strong potential for resource growth through further drilling and new discoveries. The maiden resource estimate of 1.2 million ounces gold inferred and indicated is likely just the beginning.

Enhances Economics of Potential Mining Operation

The exceptionally high grades intercepted at Ghanie South and Ghanie Central will be positive for the economics of a potential mining operation. High-grade mineralization improves mine productivity and lowers costs. This increases the overall value of the project.

Supports Standalone Operation at OKO

The discovery of multiple zones of high-grade mineralization along the OKO trends improves the prospects for a standalone mining operation focused just on the OKO project area. In the past, G2 has contemplated a central processing facility at Oko to treat additional deposits on the Aremu side. However, with grades above 10 g/t gold, the OKO project likely warrants its own dedicated operation.

According to Noone, "I think we've thought for a while now that this is a standalone project. A mining company with what we have now would start going full steam ahead into production."

Next Steps for G2 Goldfields

G2 Goldfields is in an exciting position with its OKO project quickly evolving into a premier high-grade gold discovery. Upcoming catalysts include:

• Ongoing drill results from the aggressive resource expansion and exploration program. Additional high-grade hits would be a major stock catalyst.
• An updated resource estimate toward the end of 2023/early 2024 to incorporate new drilling. This has potential to show a substantial increase over the maiden estimate.
• Metallurgical testing to prove out recoveries from the high-grade mineralization.
• Further economic studies to illustrate project value based on new resources.
• Permitting activities to advance the project toward a development decision.

G2's strong cash position, with $19 million as of July 2023, allows the drilling program to continue uninterrupted. The company is fully funded for extensive resource expansion and new deposit discovery.

The OKO project checks all the boxes for investors: high-grade, open-pit amenable mineralization in a top mining jurisdiction. As drilling continues, G2 Goldfields offers explosive upside potential from both resource growth and new discoveries.

Conclusion

G2 Goldfield's latest results confirm the OKO project as an emerging high-grade gold discovery. The new zone of bonanza grades at Ghanie South provides proof that additional discoveries are possible along the 20km corridor. OKO has potential to host multiple economic deposits.

With an aggressive drill program in progress, G2 offers investors tremendous upside through continued resource expansion and new discoveries. The project has quickly gained critical mass with a maiden resource of over 1 million ounces indicated and inferred.

G2 Goldfields presents a rare opportunity to get in early on a new gold district with grades above 10 g/t. The company has both the management experience and funding needed to systematically explore and develop OKO.

For investors seeking leveraged exposure to high-grade gold discoveries, G2 Goldfields warrants consideration. The upcoming flow of drill results provides continuous news flow and opportunities to take profits along the way.