Mr. Louis-Pierre Gignac reports

G MINING VENTURES PROVIDES Q1 2026 PROJECT STATUS UPDATE ON OKO WEST; CONSTRUCTION ADVANCING ON SCHEDULE AND ON BUDGET

G Mining Ventures Corp. has provided a status update as of Q1 2026 on its 100-per-cent-owned Oko West gold project in Guyana, which continues to advance on schedule and on budget, with first gold pour targeted for the second half of 2027 and commercial production expected in January, 2028.

Since commencing development activities in October, 2025, G Mining has made substantial progress across engineering, procurement, site infrastructure and process plant development while enhancing cost visibility and execution certainty. The corporation's early works strategy has enabled it to secure key contracts ahead of inflationary pressures, strengthening cost control and reducing schedule risk across critical scopes.

Unless otherwise stated, progress and milestones referenced in this press release are as of March 31, 2026.

Highlights:

• Safety performance, a critical pillar of project success, remains strong, with one lost-time incident recorded to date, resulting in a total recordable incident frequency rate (TRIFR) of 0.37;
• Overall project progress has reached 19.7 per cent based on earned value, with construction advancing on schedule;
• Approximately $292-million (U.S.) has been spent to date (approximately 30 per cent of initial capital), with $525-million (U.S.) committed (approximately 54 per cent of initial capital), and the project remains on budget;
• Detailed engineering is approximately 80 per cent complete;
• Procurement is approximately 80 per cent complete, with long-lead equipment largely secured and most remaining equipment and contract packages either awarded or in progress; pricing remains in line with expectations, supporting improved cost visibility;
• Georgetown port facility investment finalized, providing a dedicated long-term logistics solution with priority handling;
• The on-site work force has increased to 1,379 personnel, of which 82 per cent are Guyanese, with more than 1.6 million hours worked to date, reflecting G Mining's commitment to local employment and community engagement;
• Camp capacity has increased to 1,058 beds to support continuing work force ramp-up, with full occupancy expected by November, 2026.

Louis-Pierre Gignac, president and chief executive officer, commented: "We are very pleased with the rapid construction progress being made at Oko West, which is tracking well on schedule for first gold pour in the second half of 2027 and on budget. Our strategy of initiating development activities well ahead of final permit receipt has delivered meaningful value for our shareholders. By acting early, we reduced project timeline risk and minimized inflationary impacts across key scopes by securing procurement contracts earlier."

Oko West project update

Construction at Oko West is advancing across key work areas, including the process plant, power infrastructure, tailings storage facility and site infrastructure. Recent developments include:

• Process plant construction continues to advance:
  • Detailed excavation of the carbon-in-pulp (CIP) area has been completed;
  • Mass excavation for the primary crusher has been completed;
  • Ball mill foundations were recently poured and the preparation of rebar and formwork for the SAG (semi-autogenous grinding) mill piers is under way;
  • Major components scheduled for delivery in mid-2026, grinding mills expected to be operational by August, 2027;
• Engineering, design, and procurement are progressing on schedule as detailed engineering for the infrastructure remains on track to be completed by Q3 2026; all major procurement items have been awarded, at or below budget prices;
• Tailings storage facility development activities are progressing, including clearing activities reaching 36-per-cent completion;
• Mine preproduction activities continue to advance, including mining fleet assembly and commissioning in preparation for operations;
• Power plant generator deliveries expected throughout Q2 2026, approximately two months ahead of schedule; the power plant is expected to be operational in July, 2027;
• The permanent camp construction is advancing well as 1,058 beds installed and utilized; a further 888 beds are expected to be added in Q2 and Q3 2026; full occupancy on track for November, 2026;
• Barge landing caisson and ramp were completed on schedule at the end of March, 2026.

Capital expenditures status and outlook

As of March 31, 2026, approximately $292-million (U.S.) had been spent on the project, representing roughly 30 per cent of the initial capital estimate of approximately $973-million (U.S.). Total commitments reached approximately $525-million (U.S.) (approximately 54 per cent), with approximately $681-million (U.S.) remaining to be spent through completion. Total capital expenditures guidance at Oko West for 2026 and 2027 remains unchanged at $514-million (U.S.) to $568-million (U.S.) and $217-million (U.S.) to $240-million (U.S.), respectively, with the project remaining in line with budget.

Engineering and procurement

Detailed engineering at Oko West reached 79.8-per-cent completion, while procurement is approximately 80 per cent complete. All major procurement packages have been awarded, with pricing in line with expectations, reinforcing cost visibility and reducing exposure to inflationary pressures. Infrastructure detailed design is scheduled to be completed in Q2 2026, and process plant detailed engineering is 70 per cent complete.

Port facility investment to secure long-term logistics platform

G Mining has completed the acquisition of a 20-per-cent interest in Rock Solid International Inc., which indirectly owns and operates the wharf and storage facilities at the Eccles port facility on the Demerara River. This investment provides priority handling and preferential rates for equipment, materials and supplies. A planned expansion, targeted for completion by year-end, is expected to allow incoming vessels to berth and unload cargo. The facility currently includes a laydown area and barge loading point.

Work force and staffing status

As of March 31, 2026, the project's on-site work force totalled 1,379 personnel, including 1,018 employees and 361 contractors, with more than 1.6 million hours worked to date. Guyanese nationals comprise 82 per cent of the work force, underscoring G Mining's commitment to local employment and capacity building. Recruitment for the mining team is progressing well, supported by active training programs and on-site equipment simulators. General and administrative staffing is also well advanced, positioning the project to support both continuing construction and the transition to operations.

Project construction progress

In the process plant area, the grinding circuit remains on the project's critical path. Detailed excavation of the CIP area and mass excavation for the primary crusher have been completed. Concrete placement for the ball mill foundations has been successfully executed, and rebar installation and formwork for the SAG mill piers are progressing. Delivery of both mills is expected in July, 2026, supporting the transition to mechanical installation and advancing the project toward commissioning.

In March, 2026, a key logistics milestone was achieved with the completion and opening of a steel bridge on the access road, enabling delivery of the main power plant generators -- the heaviest components of the project. In addition, the offloading ramp and wharf at the barge landing are now fully operational, enhancing logistical efficiency and supporting the delivery of major equipment and materials.

Concrete works continue to advance across priority areas, including the grinding circuit and the main power plant engine hall. Overall concrete completion has reached approximately 20 per cent, with monthly placement volumes increasing in line with the construction schedule.

At the tailings storage facility, clearing activities have reached 36-per-cent completion, while foundation preparation for the main tailings dam is progressing well. Placement of fill material is scheduled to commence in Q2 2026.

Mining fleet assembly and commissioning are advancing steadily in preparation for preproduction activities. Several primary production units have been assembled and commissioned, along with supporting equipment. The explosives storage facility is nearing completion and ready to receive initial deliveries. Grade-control drilling and sampling activities have also commenced, supporting readiness for planned mining operations.

Near-term milestones and timeline to first gold pour

Coming near-term milestones include:

• Barge landing speedboat docking facility and initial use of wharf facility;
• Initiation of construction of the main fuel storage facility at the barge landing;
• Commissioning of the permanent camp kitchen and mess hall;
• Completion of welcome centre and laundry facilities as part of the new camp facility;
• Steel erection for key facilities;
• Delivery and installation of main power generator sets;
• Process plant tankage and primary crusher concrete works and initial deliveries of the main grinding mill components.

The project continues to advance on schedule toward first gold pour in the second half of 2027.

About the Oko West project

Oko West ranks among the largest gold projects currently under construction globally and is expected to produce an average of 350,000 ounces of gold per year at mine-site AISC (all-in sustaining costs) of $1,123 per ounce. Oko West is expected to drive consolidated production to approximately 500,000 ounces in 2028, up from 160,000 to 190,000 ounces in 2026.

Qualified person

Mr. Gignac, president and chief executive officer of G Mining, a qualified person as defined in National Instrument 43-101, has reviewed the press release on behalf of the corporation and has approved the technical disclosure contained in this press release.

About G Mining Ventures Corp.

G Mining Ventures is a mining company engaged in the acquisition, development, operation and exploration of precious metal projects to capitalize on the value uplift from successful mine development. G Mining is well positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. G Mining is currently anchored by the Tocantinzinho mine in Brazil, supported by the Gurupi project in Brazil and the Oko West project in Guyana -- all with significant exploration upside and located in mining-friendly jurisdictions. G Mining trades on the Toronto Stock Exchange under the symbol GMIN.

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