Mr. Dan Noone reports

G2 EXPANDS GOLD MINERALIZATION AT OKO - DRILLING INTERCEPTS 5.1 G/T AU / 22.3M & 7.5 G/T AU / 9M

G2 Goldfields Inc. has released assay results from 20 diamond drill holes (totalling 4,783 metres) recently completed at the company's Ghanie zone, one of several mineralized areas discovered at the 27,719-acre Oko project, Guyana.

Ghanie lies between G2's OMZ gold discovery and Reunion Gold's Block 4 discovery. Both projects have established the Oko trend's multimillion-ounce potential and are currently the subject of continuing drilling with further resource estimates expected in March, 2024. The results of this program establish significant widths of gold mineralization at both the Ghanie Central and South areas to vertical depths exceeding 260 metres and provide further evidence as to the potential for additional high-grade gold discoveries along the Oko trend.

Holes GDD-70 (5.1 grams per tonne/22.3 m) and GDD-85 (14.1 grams per tonne/2.5 m) extended gold mineralization in the Ghanie Central area. Hole GDD-76 (7.5 grams per tonne/nine m) expanded the depth of mineralization in the Ghanie South area.

Boaz Wade, vice-president, exploration, commented: "These results continue to confirm that continuous, structurally controlled shoots occur as multiple mineralization styles in the Ghanie deposit. Magnetite-bearing volcanic rocks host broader disseminated gold in the hangingwall of Ghanie Central along with a coherent higher-grade footwall zone. In contrast, ductile carbonaceous mudstones and brittle arenaceous siltstones host more discrete high-grade laminated vein and breccia lodes in Ghanie South. Targeting the intersection of fertile shear structures with these prospective host rocks remains a key focus for G2 in aspiring for further discoveries in the Ghanie deposit and the remainder of the Oko-Aremu district."

Dan Noone, G2 chief executive officer, stated: "Gold mineralization at the Ghanie areas remains impressive, and is still relatively shallow. With our neighbours Reunion now extending gold mineralization to a depth beyond one kilometre, the considerable depth potential of the district is becoming evident. Ghanie has delivered some significant gold intercepts to date, and we look forward to additional drill results from our ongoing program."

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. Mineral resources are estimated by Dr. Tania Ilieva, PhD, PGeo, and Alan San Martin, MAusIMM(CP), consultants of Micon International Ltd.

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 MSA Labs 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 (MSA Labs method MSC 550). All other samples are analyzed for gold using standard fire assay atomic absorption with atomic absorption finish (MSA Labs method; FAS-121). Samples returning over 10 g/t gold are analyzed utilizing standard fire assay gravimetric methods (MSA Labs 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 assurance/quality control program (QA/QC). No QA/QC issues were noted with the results reported herein.

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