Mr. Daniel Noone reports

G2 GOLDFIELDS CLOSES C$49.5 MILLION PRIVATE PLACEMENT

G2 Goldfields Inc. has completed the non-brokered private placement announced by the company on Sept. 11, 2025. The offering consisted of 15 million common shares of the company at a price of $3.30 per share for aggregate gross proceeds of $49.5-million.

The net proceeds from the offering are expected to be used for continued exploration and development of the company's mineral properties in Guyana and for general working capital and general corporate purposes.

Certain insiders of the company participated in the offering. Participation by such insiders of the company was considered a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insiders' participation in the offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report in connection with the participation of the insiders in the offering will be filed less than 21 days in advance of the closing of the offering, which the company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and 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 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 gold inferred contained within 3,473,000 tonnes at 4.60 grams per tonne gold;
  • 808,000 ounces gold 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 ounces gold inferred contained within 12,062,000 tonnes at 2.64 g/t Au;
  • 663,400 ounces gold indicated contained within 10,288,000 tonnes at 2.01 g/t Au;
• Total open-pit resource for the Oko NW zone:
  • 97,200 ounces gold 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, BSc (geology), MBA, chief executive officer of G2 Goldfields, a qualified person within the meaning of National Instrument 43-101. Mr. Noone is a fellow of the Australian Institute of Geoscientists.

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