Mr. Daniel Noone reports

G2 DRILLS 24M @ 2 G/T AU IN NEW GOLD DISCOVERY

G2 Goldfields Inc.'s exploration teams have made a significant gold discovery several miles north of G2's existing gold resource at the Oko project, Guyana. On March 10, 2025, G2 announced an updated mineral resource estimate (MRE) of 1.5 million ounces of gold (indicated) and 1.6 million ounces of gold (inferred) at the Oko project. G2 is currently executing on district-scale exploration programs across its exploration portfolio in Guyana, currently comprising 83,967 acres of exploration rights.

History of discovery

Stream sediment sampling conducted by G2 in the discovery area in 2023 and 2024 returned highly anomalous values. Follow-up soil sampling campaigns outlined a series of anomalous gold zones in a 1,400-metre-by-900-metre area. The initial eight-hole diamond drilling program focused on mapped parallel shear zones associated with the more southerly anomalous areas. Significantly, four of five diamond drill holes targeting the most prominent shear intercepted shallow gold mineralization along a 420-metre strike length.

Patrick Sheridan, G2 executive chairman, stated: "This new discovery is a testament to the very high quality of our exploration portfolio and the exceptional talents of our exploration team led by Dan Noone (CEO) and Boaz Wade (VP, exploration). This is a brand-new discovery from 'first principles' and we look forward to additional exploration success from our team, partners and portfolio of properties."

Additional financing approved for G3 spinout

This most recent gold discovery lies within properties in the proposed G3 Goldfields Inc. spinout portfolio. G2 intends to distribute G3 shares to existing shareholders (see news releases dated Jan. 28, 2025, and Jan. 14, 2025). The G2 board of directors has decided it is in the best interest of G2 shareholders to spin out the G3 assets with $15-million in cash instead of $10-million as originally announced.

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 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-AA (atomic absorption) with atomic absorption finish (MSA Labs method; FAS-121). Samples returning over 10.0 grams per tonne (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 control/quality assurance program (QA/QC). 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 March, 2025, G2 announced an updated mineral resource estimate for the Oko property in Guyana (see news release dated March 10, 2025). Highlights of the updated MRE include the following.

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

• 513,500 ounces (oz) gold (Au) inferred contained within 3,473,000 tonnes at 4.60 g/t Au;
• 808,000 oz Au indicated contained within 3,147,000 tonnes at 7.98 g/t Au.

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

• 1,024,500 oz Au inferred contained within 12,062,000 tonnes at 2.64 g/t Au;
• 663,400 oz Au indicated contained within 10,288,000 tonnes at 2.01 g/t Au.

Total combined open-pit resource for the Oko NW (northwest) zone:

• 97,200 oz Au inferred contained within 4,976,000 tonnes at 0.61 g/t Au.

The MRE was prepared by Micon International Ltd. with an effective date of March 1, 2025. Significantly, the updated mineral resources lie within an average depth of 370 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 (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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