Mr. Dan Noone reports

G2 ANNOUNCES FURTHER EXPLORATION ALLIANCES

G2 Goldfields Inc. has entered into definitive agreements to acquire two highly prospective property packages in Region 7, Guyana. The alliances further expand and complement the company's already extensive regional targets. The Oko-Aremu area hosts world-class gold resources, with a total resource exceeding 7.8 million ounces. G2 expects to publish an updated mineral resource estimate (MRE) in the coming weeks, whilst continuing to aggressively drill the corridors of high-grade mineralization extending to the north.

Property A (5,457 acres) is adjacent to G2's current holdings in the Oko-Aremu district. The properties include four kilometres of strike length of a prominent north- to northeast-trending corridor along the contact of the Bartica batholith and strongly deformed greenstone volcanics and sediments. The geological setting is similar to that which hosts G2's OMZ and Ghanie gold zones located approximately 10 km to the south along the same contact zone. The property has never been subject to modern exploration techniques.

Property B (20,739 acres) contains at least a six km strike length of a very large-scale shear zone that is interpreted to be on the margin of a lower volcanic sequence and upper sedimentary basin -- an ideal geological setting for the discovery of large gold deposits. A significant amount of angular gold nuggets and chips have been, and continue to be, produced from surface workings by the property vendor. Significantly, these nuggets and chips occur within first order creeks adjacent to the interpreted shear zone. Additionally, a quartz vein outcrop with visible gold occurs on the western extent of this very extensive property. G2 is currently mobilizing significant resources into the district which has never been subject to modern exploration techniques.

Patrick Sheridan, G2 executive chairman, stated: "G2 continues to execute on its highly successful regional strategy of partnering with local mining entities to explore, define and develop the region's significant gold resources. We are 100-per-cent focused on Guyana, discovering and developing gold resources for the benefit of the Guyanese people and shareholders of G2. Leveraging over 30 years of experience in country, we believe strongly in structuring win-win partnerships designed to unlock the tremendous prospectivity of Guyana's historical gold districts."

Mr. Sheridan further stated: "We will be announcing additional partnerships in the near future, further establishing our dominant position in the region. G2 remains an exciting growth story with multiple drill programs currently being conducted across the district. We are laser focused on the development of the Guyanese gold mining industry."

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, National Instrument 43-101 technical report on the Aurora gold mine, March 31, 2020).

In April, 2024, G2 announced an updated mineral resource estimate (MRE) for the Oko property in Guyana (see press release dated April 3, 2024). Highlights of the updated MRE include:

• Total combined open-pit and underground resource for the Oko Main zone (OMZ):
  • 495,000 ounces gold inferred contained within 2,413,000 tonnes at 6.38 grams per tonne gold;
  • 686,000 ounces gold indicated contained within 2,368,000 tonnes at 9.03 grams per tonne gold;
• Total combined open-pit and underground resource for the Ghanie zone:
  • 604,000 ounces gold inferred contained within 12,216,000 tonnes at 1.54 grams per tonne gold;
  • 236,000 ounces gold indicated contained within 3,344,000 tonnes at 2.20 grams per tonne gold.

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 14.99 per cent of the issued and outstanding shares of G2. G2 currently has cash holdings exceeding $38-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 (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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