Mr. Daniel Noone reports

G2 GOLDFIELDS PROVIDES COMMENTS ON RECENT TRADING ACTIVITY AND GENERAL CORPORATE UPDATE

G2 Goldfields Inc. has provided further details on recent trading activity in the company's common shares, as well as provide a general corporate update on near-term catalysts and deliverables.

Recent trading activity

On July 8, 2025, a total of over 36 million common shares of the company traded on the Toronto Stock Exchange and the OTCQX, representing over 15 per cent of the current issued and outstanding G2 shares. On July 9, 2025, AngloGold Ashanti Holdings PLC announced that it disposed of its share holdings in the company, representing approximately 14.95 per cent of G2's issued and outstanding common shares.

The G2 shares previously held by Anglo were placed with two large European investors. A total of 23 million G2 shares or approximately 9.5 per cent of the issued and outstanding G2 shares were placed with one investor, with the balance of the Anglo position placed with another investor.

Patrick Sheridan, G2 executive chairman, stated: "The ability to place the Anglo shares in such short notice and with such high-quality and very supportive investors is a testament to the quality of our team and assets. We will continue to expand the considerable gold resource at G2, focusing on our new Oko discovery as well as our regional portfolio of gold exploration properties. We remain steadfast and excited about the future of this emerging 25 plus km gold district which currently hosts several significant multimillion-ounce resources."

General corporate update

In addition, the company would like to provide an update with respect to the proposed spinout of G3 Goldfields Inc. On March 18, 2025, G2 announced the discovery of a new zone of gold mineralization on certain properties to be transferred to G3 pursuant to the proposed spinout. Subsequently, G2 extended the outside date for the completion of the proposed spinout to June 30, 2025, in accordance with the terms of the arrangement agreement with G3. The new Oko discovery has led to a management review of both core and non-core assets within the G2 property portfolio, and the new Oko discovery as well as certain on-strike properties are currently considered by the company to be core assets. The company has terminated the arrangement agreement as it continues to evaluate the reorganization of its portfolio of properties to further optimize shareholder value. The company anticipates providing an update to shareholders in August, 2025, and completing any proposed spinout of its non-core assets in Q4 2025, subject to shareholder and regulatory approvals.

Dan Noone, G2 chief executive officer, stated: "This is a fortuitous situation for G2. Since the March discovery announcement, we have completed over 60 diamond drill holes in the new Oko discovery and have also established further promising drill targets along this major structural break. We anticipate providing an updated MRE in early Q4 which will encompass all drilling completed up to September, 2025. G2 also anticipates completing a PEA on the greater Oko resource, combining multiple open pits and underground mining plans. We expect to have five drill rigs operating all summer at the project and we're excited to continue to grow our global resource base."

About G2 Goldfields Inc.

G2 Goldfields finds and develops gold deposits in Guyana. The founders and principals of the company have been directly responsible for the discovery of more than 10 million ounces of gold in the prolific and underexplored Guiana shield. G2 continues this legacy of exploration excellence and success.

In March, 2025, G2 announced an updated mineral resource estimate (MRE) for the Oko property in Guyana (see press release dated March 10, 2025). Highlights of the updated MRE include:

Total combined open pit and underground Resource for the Oko Main zone (OMZ):

• 513,500 ounces Au -- inferred contained within 3,473,000 tonnes at 4.60 grams per tonne 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 open pit resource for the Oko NW 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. 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.

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.

We seek Safe Harbor.