Mr. Dan Noone reports

G2 HITS HIGH GRADE AT OMZ (6.7M @ 32 G/T AU) AND EXPANDS GHANIE (64.5M @ 1.3 G/T AU)

G2 Goldfields Inc. has released results from the continuing drill programs at Oko Main zone (OMZ) and the Ghanie zone, located within G2's 19,200-acre Oko project in Guyana. Following up on work that modelled the controls on high-grade domains at the OMZ, G2 Goldfields has intercepted exceptional intervals of high-grade gold mineralization, and current drilling is tracing these high-grade corridors to depth.

OKD-178 intercepted shear 5 at a depth of 450 metres below surface and returned 6.7 metres of 32 grams per tonne gold (from 477 metres downhole). OKD-178 intercepted shear 5 40 metres to the north of OKD-121 (3.7 metres of 58 grams per tonne gold) (see press release dated Sept. 19, 2022) and 40 metres south of OKD-126a (three metres of 27.8 grams per tonne gold) (see press release dated Nov. 16, 2022).

A table of results from the OMZ drilling is attached as follows.

Dan Noone, chief executive officer, commented: "These results demonstrate the presence of high-grade domains that can be successfully targeted as we continue to drill deeper. This allows for more cost-effective and rapid expansion of the OMZ resource."

Ghanie

A table of results from Ghanie drilling is attached as follows.

Drilling is continuing along the Ghanie trend, where recent drilling continues to intercept the high-grade footwall zone within the broader halo of disseminated gold mineralization as in hole GDD-63, which intersected 64.5 metres of 1.3 grams per tonne gold (from 256.5 metres), including the footwall zone of 2.3 metres of 13.4 grams per tonne gold (from 317 metres). Drilling has encountered the Ghanie Central zone (GCZ) to 250 metres below surface over a strike length of 150 metres.

Boaz Wade, vice-president, exploration, stated: "We are now leveraging our understanding of the Ghanie Central zone to target drilling on other sections of the 1.2-kilometre-long Ghanie trend. At Ghanie South, we are following up on the previous high-grade intercept in GDD-06, which returned three metres of 17 grams per tonne (see press release dated April 12, 2023)."

Target generation

G2 continues to target near-surface anomalous zones adjacent to the OMZ and Ghanie trends with shallow drilling. An aggressive program is continuing to explore and generate new targets along the Oko to Aremu trend spanning 20 kilometres.

Quality assurance/quality control

Drill core is logged and sampled in a secure core storage facility located on the Oko project site in Guyana. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to MSALABS Guyana in Georgetown, Guyana, which is an accredited mineral analysis laboratory, for analysis. Samples from sections of core with obvious gold mineralization are analyzed for total gold using an industry-standard 500-gram metallic screen fire assay (MSALABS method MSC 550). All other samples are analyzed for gold using standard fire assay AA with atomic absorption finish (MSALABS method FAS-121). Samples returning over 10.0 grams per tonne gold are analyzed utilizing standard fire assay gravimetric methods (MSALABS method FAS-425). Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream as part of G2 Goldfield's quality control/quality assurance program. No QA/QC issues were noted with the results reported herein.

About G2 Goldfields Inc.

The G2 Goldfields team comprises professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana as well as the financing and development of the Aurora gold mine, Guyana's largest gold mine. G2 recently announced its maiden mineral resource estimate on the newly discovered Oko property in Guyana (see press release dated April 25, 2022), and has recently filed on SEDAR an independent technical report entitled "NI 43-101 Technical Report and Mineral Resource Estimate for the Oko Gold property, Cooperative Republic of Guyana, South America," with an effective date of April 14, 2022. Mineral resources are estimated by Dr. Tania Ilieva, PhD, PGeo, and Alan San Martin, MAusIMM (CP), consultants of Micon International Ltd.

Highlights of the report include:

• 974,000-ounce-gold inferred mineral resource contained within 3,274,000 tonnes at 9.25 grams per tonne gold;
• 220,000-ounce-gold indicated mineral resource contained within 793,000 tonnes at 8.63 grams per tonne gold.

Significantly, all of the maiden mineral resources lie within 350 metres of surface and remain open down plunge. G2 continues to expand this maiden resource while discovering additional areas for diamond drilling.

All scientific and technical information in this press release has been approved by and prepared under the supervision of Mr. Noone (chief executive officer of G2 Goldfields), a qualified person within the meaning of National Instrument 43-101. Mr. Noone has a BSc in geology and an MBA and is a fellow of the Australian Institute of Geoscientists.

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