Mr. Daniel Noone reports

G2 GOLDFIELDS ANNOUNCES C$49.5 MILLION PRIVATE PLACEMENT

G2 Goldfields Inc. has arranged a non-brokered private placement of up to 15 million common shares of the company at a price of $3.30 per share for aggregate gross proceeds of up to $49.5-million.

The net proceeds from the offering are expected to be used for continued exploration and development of its mineral properties in Guyana, and for general working capital and general corporate purpose. The offering is fully subscribed and is expected to close in September, 2025, and is conditional on the satisfaction of customary conditions, including approval of the Toronto Stock Exchange.

Daniel Noone, chief executive officer and director of G2, commented: "The completion of this offering, backed by the continued support of our two largest shareholders, places the company in a strong financial position ahead of delivering on key milestones in the fourth quarter of 2025, including the updated mineral resource estimate (MRE) and preliminary economic assessment (PEA). Their confidence underscores the quality of our assets and our near-term strategy, and with this strengthened balance sheet we are well positioned to advance our projects and deliver value to all shareholders."

Insiders of the company are expected to subscribe for 325,000 shares for aggregate gross proceeds of $1,072,500. Accordingly, the offering will be considered a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, the company is exempt from the requirements to obtain a formal valuation and minority shareholder approval because the fair market value of insiders' participation in the offering does not exceed 25 per cent of the company's market capitalization. The company will file a material change report in respect of the offering, but it may be filed less than 21 days in advance of the closing of the offering, which the company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and to complete the offering in an expeditious manner.

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 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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