Mr. Dan Noone reports

G2 GOLDFIELDS STATEMENT ON REGIONAL GEOPOLITICAL AFFAIRS

G2 Goldfields Inc. has provided context and comments regarding the recent actions of the Venezuelan government with respect to Guyana's Essequibo district. G2 is developing its high-grade Oko gold project in Guyana and has been operating in Guyana since 2019. Additionally, the management team of G2 has led the discovery, construction and development of the $225-million (U.S.) Aurora gold project in Guyana, now one of South America's largest operating gold mines, and has been actively investing in Guyana since 1996.

The matter is currently before the International Court of Justice. Significantly, almost every country in the world recognizes Guyana's existing borders.

Guyana has received international support concerning the most recent actions of the Venezuelan government, with United States Secretary of State Antony Blinken reiterating Washington's "unwavering support for Guyana's sovereignty" and reaffirming its position that Guyana has full authority over its Essequibo region. Additionally, Britain's Foreign Office stated: "The U.K. [United Kingdom] is concerned by the recent steps taken by Venezuela, with respect to the Essequibo region of Guyana. ... We believe this is unjustified and should cease. We are clear that the border was settled in 1899 through international arbitration." (via X (formerly known as Twitter), quoted in Stabroek News, Dec. 7, 2023).

In a televised address to the nation, President of Guyana Dr. Irfaan Ali affirmed: "You have nothing to worry about when you invest in a country that governs itself in accordance with the rule of law, that stands on the side of democracy and understands what true freedom is. So there is nothing to fear. Our international partners and international community are ready to support us. They've assured us of their support, and all we want is for these missteps to be corrected by President Maduro of Venezuela." (The Guardian, Dec. 6, 2023).

G2 Goldfields' operations are not affected in any way by the current actions in Venezuela, with five diamond drill rigs currently turning around the clock. G2 will continue to be a supportive international investor in Guyana, one of the fastest-growing economies in the world, and will continue to develop the Oko project in accordance with international best practice.

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 released 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 ounces of gold -- inferred mineral resource contained within 3,274,000 tonnes at 9.25 grams per tonne gold;
• 220,000 ounces of gold -- 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 in geology, MBA) is a fellow of the Australian Institute of Geoscientists.

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