Mr. Daniel Noone reports

G2 GOLDFIELDS RECEIVES NOTICE OF GRANT OF LARGE SCALE PROSPECTING LICENSES OF THE OKO GOLD PROJECT

The Ministry of Natural Resources and the Guyana Geology and Mines Commission have approved the issuance of two large-scale prospecting licences (PLs) that encompass G2 Goldfields Inc.'s high-grade Oko-Ghanie gold deposit in Guyana.

Dan Noone, chief executive officer, commented: "Securing the prospecting licences for our flagship Oko-Ghanie deposit is a significant milestone in the advancement of the project and underscores our strong working relationship with the government of Guyana. This approval provides a clear pathway to advance exploration and development of this world-class gold system. With this licence in hand, we are well positioned to unlock the full potential of this highly prospective gold district and rapidly drive the advancement of this project."

Patrick Sheridan, executive chairman, stated: "Guyana was recently recognized as a top-10 jurisdiction globally for mining investment (1). This milestone is a testament to both the prolific prospectivity of the Guiana shield, and the government of Guyana's strong support for the rapidly advancing gold mining industry and foreign investment development in general. The Oko gold project is the second multimillion-ounce gold mine that our group has discovered and developed in Guyana in the last 20 years and we remain excited to continue to be a supportive partner in the development of the industry."

The large-scale PLs encompass the Oko and Ghanie deposits (1.5 million ounces indicated at 3.40 grams per tonne (g/t) gold (Au) and 1.6 million ounces inferred at 2.48 g/t Au) with a combined area of approximately 17,451 acres and replace 11 separate medium-scale mining permits previously held in the name of Guyanese entrepreneurs through option agreements. The PLs have a three-year term with two renewal rights for one year each, and provide for the right of occupation and exclusive right to explore for gold and precious minerals.

Over the last two years, comprehensive environmental baseline studies have been conducted by G2 via third party consultants. These studies were designed to recommend actions for effective project design, for regulatory compliance and to support the preparation of an environmental social impact assessment (ESIA). Importantly, the project area is not designated as a priority conservation site and does not overlap with any protected or indigenous lands.

(1) Source: Fraser Institute Annual Survey of Mining Companies, 2024.

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 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) 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 open-pit resource for the Oko 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. 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 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.

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