Mr. Dan Noone reports

G2 GOLDFIELDS ANNOUNCES ANGLOGOLD ASHANTI'S INTENTION TO COMPLETE A STRATEGIC INVESTMENT

AngloGold Ashanti PLC (AGA) has confirmed its intention, subject to execution of definitive documentation and satisfaction of customary conditions, to complete a strategic investment in G2 Goldfields Inc. that will result in AGA owning 24.5 million common shares, equivalent to approximately 11.7 per cent of the company's issued and outstanding shares, at a price of 90 cents per share for gross proceeds of $22.05-million. Roth Canada Inc. and Cormark Securities Inc. are acting as agents in connection with the strategic investment.

The net proceeds from the strategic investment will be used to advance exploration activities at the company's Oko project in Guyana and for working capital and general corporate purposes.

As part of the strategic investment, AGA will be granted pre-emptive and top-up rights for future security issuances by G2. Completion of the strategic investment is subject to the parties entering into definitive documentation, which will provide for customary closing conditions, including approval of the TSX Venture Exchange, and is expected on or about Jan. 15, 2024, subject to satisfaction of customary conditions.

Dan Noone, G2 chief executive officer, stated: "We are delighted Anglo Ashanti has confirmed it intends to be a major shareholder in G2. This is a testament to the quality of our assets and exploration team. Anglo Ashanti's investment will allow us to continue to advance our high grade Oko project whilst aggressively exploring our district scale land package."

The shares will be sold on a private placement basis to the subscriber in the United States pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended and pursuant to one or more exemptions from the prospectus requirements under Canadian securities laws. The shares will be subject to a four-month hold period in accordance with Canadian securities laws. The shares offered hereby have not and will not be registered under the 1933 act and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the 1933 act) unless the securities have been registered under the 1933 act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 act, and in compliance with any applicable securities laws of any state or other jurisdiction of the United States.

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 announced its maiden mineral resource estimate on the newly discovered Oko property in Guyana (see press release dated April 25, 2022), and has 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.

All scientific and technical information in this news release has been reviewed and approved by Mr. 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 member of the Australian Institute of Geoscientists.

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