Mr. Dan Noone reports

G2 EXTENDS HIGH GRADE GOLD MINERALIZATION AT OKO: OKD-54 INTERSECTS 6.7 M @ 10.5 G/T AU & 3.2 M @ 8.4 G/T AU

G2 Goldfields Inc. has provided multiple high-grade drilling intercepts from the company's continuing drilling program at the 19,200-acre Oko-Aremu property, region 7, Guyana. G2 Goldfields has completed 63 diamond drill holes to date, totalling 13,971 metres.

Drilling has shown that within the Oko mine area, high-grade gold mineralization is hosted in (i) shallow, north-plunging zones, and (ii) in steeply dipping limbs of tightly folded carbonaceous sediments. The company emphasizes that only a small part of the property has been drilled to date, with drilling imminent on significant new zones, including the four-kilometre-long Aremu mine zone.

Oko Main drilling zone

Diamond drilling has intercepted the best mineralized section to date with hole OKD-54 intercepting three zones of mineralization including 6.7 m at 10.5 grams per tonne gold, 3.2 m at 8.4 g/t Au and 10.1 m at 2.1 g/t Au. This hole extended high-grade gold mineralization to 210-metre vertical depth, 95 metres down dip from previously reported hole OK-35 (25 m at 2.2 g/t Au and 4.8 m at 10.6 g/t Au, see press release dated May 26, 2020). OKD-54 is situated on the northernmost section of the 750-metre-long Oko Main zone, with mineralization remaining open to the north and south.

Hole               From (m)             To (m)       Interval (m)     Grade (g/t Au)

OKD-49                57.1               59.0                2.0                1.0
                      77.1               77.5                0.4                2.0
                     157.9              160.5                2.7                2.2
OKD-50               100.0              107.0                7.0                0.4
                      47.1               50.0                2.9                2.7
OKD-51               122.0              122.4                0.4               13.3
                     181.6              182.7                1.1                2.6
OKD-52               146.7              153.5                6.8                2.7
Incl.                151.5              153.1                1.6                6.8
OKD-52               283.4              285.0                1.6                6.9
Incl.                283.4              284.1                0.7               15.3
OKD-53                59.0               60.9                1.9                6.0
OKD-54               135.0              141.0                6.0                2.4
                     149.0              159.1               10.1                2.1
Incl.                149.0              152.1                3.1                4.1
OKD-54               166.5              167.4                0.9                5.2
                     196.4              196.8                0.4                5.4
                     291.3              294.4                3.2                8.4
OKD-54               301.0              307.7                6.7               10.5
Incl.                303.2              304.1                0.9               34.6
Incl.                306.9              307.7                0.8               42.7
        
Widths reported are drill indicated core length. True widths are estimated at 75 per
cent to 85 per cent of core lengths for holes OKD-49 to OKD-54. Average grades are 
calculated with uncapped gold assays, as insufficient drilling has been completed to 
determine capping levels for higher grade intercepts. All holes are drilled at an 
angle of 60 degrees to the horizontal.

Regional exploration update

Aremu and Tracy

G2 is pleased to announce that the company has mobilized for its initial drill program at the Aremu mine area where currently 20 auriferous veins have been mapped over a four km strike length (see technical report National Instrument 43-101 dated Nov. 23, 2018, available on SEDAR).

Additionally, as part of an expansion of exploration activity along the Oko-Aremu trend, trenching has commenced at the Tracy target zone, a significant gold-in-soil anomaly located between the Oko and Aremu zones.

Dan Noone, G2 chief executive officer, commented: "We continue to step out aggressively at Oko and are starting to see a periodicity to the high-grade mineralization along the northern half of the ODZ. Furthermore, we are excited to have mobilized for the highly anticipated initial drill program at the Aremu mine area."

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 MSALABS 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 (MSALABS method MSC 550). All other samples are analyzed for gold using standard fire assay-AA with atomic absorption finish (MSALABS method; FAS-121). Samples returning over 10.0 g/t gold are analyzed utilizing standard fire assay gravimetric methods (MSALABS 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 (QAQC). No QA/QC issues were noted with the results reported herein.

About G2 Goldfields Inc.

G2 Goldfields is focused on the discovery of large gold deposits in the Guiana shield. The company owns a 100-per-cent interest in two past-producing gold mines, as well as a regional portfolio of highly prospective projects. All scientific and technical information in this press release has been prepared under the supervision of Dan Noone (CEO of G2 Goldfields), a qualified person within the meaning of National Instrument 43-101. Mr. Noone (BSc, geology, MBA) is a member of the Australian Institute of Geoscientists.

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