Mr. Daniel Noone reports

G2 GOLDFIELDS EXPANDS TEAM AND APPOINTS VP, INVESTOR RELATIONS AND VP, BUSINESS DEVELOPMENT - GUYANA

G2 Goldfields Inc. has appointed Jacqueline Wagenaar as vice-president, investor relations, and promoted Roopesh Sukhu to vice-president, business development, Guyana, effective immediately.

Ms. Wagenaar will drive the capital markets program for G2 and the proposed spinout and eventual stock listing of G3 Goldfields Inc., which was recently approved at the company's annual general meeting of shareholders and is expected to include G2's interest in certain non-core assets through a plan of arrangement under the Canada Business Corporations Act. Mr. Sukhu will be responsible for driving the company's regional growth strategy through land identification, acquisitions and partnerships with local Guyanese entities. In addition to supporting continuing drilling and exploration programs, Mr. Sukhu will be responsible for tenement management and government relations, ensuring regulatory compliance while fostering strong relationships with local miners and authorities.

Ms. Wagenaar is an award-winning investor relations executive with more than 17 years of capital market experience in exploration, development and producing staged mining projects. She has a proven record of launching and executing successful investor relations programs that have resulted in significant shareholder returns. Most recently, Ms. Wagenaar played a key role in the successful IPO (initial public offering) of Solaris Resources Inc., where she led the investor relations efforts and supported the growth of the company to 10 times its original size before its successful exit from Canada. Prior to Solaris, Ms. Wagenaar spent over a decade at Guyana Goldfields Inc., where she established and led the inaugural investor relations program that supported the advancement and financing of the Aurora gold project from early exploration to production and the resulting evolution of the shareholder registry. Ms. Wagenaar is a certified professional in investor relations (CPIR) from the Richard Ivey School of Business at the University of Western Ontario.

Mr. Sukhu is an experienced geological engineer with over 15 years in mining exploration, resource modelling and environmental management. Mr. Sukhu, previously appointed senior geologist, has been promoted to serve as G2's new vice-president, business development, Guyana. Mr. Sukhu is based in Guyana and has been involved with the company since April, 2022, and played an integral role in the planning and mobilization of exploration activities. Prior to G2, Mr. Sukhu held progressively senior roles in mining, technical services, life-of-mine plans and mine optimization for key gold and bauxite projects in Guyana and Burkina Faso. Mr. Sukhu holds a master of science in hydrogeology and water resources management from Newcastle University and a bachelor of engineering (geology) from the University of Guyana.

Patrick Sheridan, executive chairman of G2, stated: "We are thrilled to welcome Jacqueline to the team and to recognize Roopesh's contributions. Jacqueline's extensive experience in delivering IR programs that drive significant shareholder value will be instrumental as we continue executing G2's corporate strategy and launch the proposed G3 spinout. Roopesh has been a key leader in our exploration success, and his expanded role will further strengthen our efforts in advancing the Oko gold property and engaging with strategic Guyanese partners. These appointments reinforce our commitment to building a world-class team as we continue to unlock the full potential of our assets."

The spinout remains subject to final court and regulatory approvals, including final approval of the Toronto Stock Exchange. For a more detailed description of the spinout, please refer to the company's management information circular dated Dec. 20, 2024. Subject to the approval of the Ontario Superior Court of Justice (Commercial List) and the Toronto Stock Exchange and the determination of the boards of directors of G2 and G3, the spinout is anticipated to be completed in Q1 2025.

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.

AngloGold 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 $37-million (unaudited) 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 Dan Noone, BSc (geology), MBA, chief executive officer of G2 Goldfields and a qualified person within the meaning of NI 43-101. Mr. Noone is a fellow of the Australian Institute of Geoscientists.

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