Mr. Dan Noone reports

G2 MAKES HIGH GRADE DISCOVERY AT GHANIE SOUTH (11M @ 37.9 G/T AU)

G2 Goldfields Inc. has discovered the high-grade Ghanie South zone, located within G2's 19,200-acre Oko project, Guyana.

GDD-68A intercepted 11 metres at 37.9 grams per tonne gold from 148 metres down hole. This hole is a follow-up to the previous high-grade GDD-06 intercept (three m at 17 g/t from 58 metres; see press release dated April 12, 2023).

Situated approximately 300 metres to the south of Ghanie Main zone, Ghanie South is the site of continuing drilling targeting extensions to this exciting high-grade discovery.

Boaz Wade, vice-president, exploration, stated: "We are leveraging our understanding of the Ghanie Central zone to target high grade on other sections of the 1.2-kilometre-long Ghanie trend. These results demonstrate the presence of multiple high-grade zones along trend and the potential for more discoveries throughout the Oko district."

Drilling continues at the Oko Main zone and Ghanie Central, with two drill rigs targeting down-plunge extensions of the high-grade mineralization.

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 complete 20 kilometres of the Oko to Aremu trend.

Quality assurance/quality control

Drill core is logged and sampled in a secure core storage facility located on the Oko project site, 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 atomic absorption with atomic absorption finish (Msalabs method; FAS-121). Samples returning over 10 g/t 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 Goldfields' quality assurance/quality control program (QA/QC). 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.

Highlights of the report include:

• 974,000 ounces Au -- inferred mineral resource contained within 3,274,000 tonnes at 9.25 g/t Au;
• 220,000 oz Au -- indicated mineral resource contained within 793,000 tonnes at 8.63 g/t Au.

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 Dan Noone (chief executive officer of G2 Goldfields), a qualified person within the meaning of National Instrument 43-101. Mr. Noone (BSc, geology, MBA) is a fellow of the Australian Institute of Geoscientists.

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