Mr. Dan Noone reports

G2 DRILLS 114M @ 2.9 G/T AU & 51.8M @ 2.1 G/T AU SIGNIFICANTLY EXPANDING NEW GOLD ZONE

G2 Goldfields Inc. has provided an update on its continuing exploration program at the company's 58,000-acre Oko-Aremu gold project, Guyana. G2 currently has six rigs operating at the project, building on the company's current mineral resource, which comprises 922,00 ounces of gold (indicated) and 1,099,000 ounces (inferred) (see news release dated April 3, 2024). G2 continues to expand and define existing gold zones while discovering new high-grade parallel zones of gold mineralization. The company intends to issue an updated mineral resource estimate (MRE) for the Oko project in Q1 (first quarter) 2025.

Subsequent to the April 3 mineral resource estimate (MRE), to date, G2 has completed an additional 124 holes totalling 42,853 metres. This drilling campaign has led to the discovery of new zones of gold mineralization along strike and downplunge of the previously defined resource (see news release dated Sept. 3, 2024). One of the more promising new discoveries was announced on Sept. 3, 2024. It described a new mineralized structure starting from near surface and running parallel to the central Ghanie zone. Select intercepts from the initial discovery are highlighted in table No. 1.

Subsequent drilling has encountered the most expansive zone of gold mineralization discovered to date at Ghanie and has extended mineralization a farther 200 metres downplunge. Highlights from the latest 18 drill holes are tabulated in table No. 2.

Dan Noone, G2 Goldfields chief executive officer, stated, "We are eager to continue this intensive exploration campaign across the Ghanie district, where multiple discoveries have demonstrated that the district has been extensively mineralized."

QA/QC (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-AA with atomic absorption finish (MSALABS method; FAS-121). Samples returning over 10.0 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' QA/QC 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 (RPA, 43-101, technical report on the Aurora gold mine, March 31, 2020).

In April, 2024, G2 announced an updated MRE for the Oko property in Guyana (see news release dated April 3, 2024). Highlights of the updated MRE include the following.

Total combined open-pit and underground resource for the Oko main zone (OMZ):

• 495,000 ounces (oz) gold (Au) inferred contained within 2,413,000 tonnes at 6.38 grams per tonne (g/t) Au;
• 686,000 oz Au indicated contained within 2,368,000 tonnes at 9.03 g/t Au.

Total combined open-pit and underground resource for the Ghanie zone:

• 604,000 oz Au inferred contained within 12,216,000 tonnes at 1.54 g/t Au;
• 236,000 oz Au indicated contained within 3,344,000 tonnes at 2.20 g/t Au.

The MRE was prepared by Micon International Ltd. with an effective date of March 27, 2024. Significantly, the updated mineral resources lie within 500 metres of surface. The Oko district has been a prolific alluvial goldfield since its initial discovery in the 1870s and modern exploration techniques continue to reveal the considerable potential of the district.

Anglo Gold Ashanti currently holds 35,948,965 shares, representing 15.03 per cent of the issued and outstanding shares of G2. G2 currently has cash holdings exceeding $49-million and is well financed to execute on this regional exploration program.

All scientific and technical information in this news release has been reviewed and approved by Mr. Noone, who is 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.

We seek Safe Harbor.