G2 Goldfields Inc. announced an updated Mineral Resource Estimate (?MRE? or ?Resource?) within the Company?s 27,719-acre OKO project, Guyana. The updated MRE is comprised of a discrete high-grade resource for the Oko Main Zone (OMZ) and a disseminated bulk mineable resource for the Ghanie Zone.

Total contained gold increased by 69% to 2.0 million ounces. Total indicated gold increased by 320% to 922,000 ounces. The total combined open pit and underground Resource reported in the MRE for the OMZ includes 686,000 ounces (oz) of gold (Au) inIndicated Resource contained within 2.36 million tonnes (Mt) grading 9.03 grams per tonne (g/t) Au, with an additional 495,000 oz of gold in Inferred Resources, contained within 2.41 Mt grading 6.38 g/t Au.

The total combined open pit and underground Resource reported in the MRE for the Ghanie Zone includes 236,000 ounces (oz) of gold (Au) inIndicated Resource contained within 3.34 million tonnes (Mt) grading2.20 grams per tonne (g/t) Au, with an additional 604,000 ozof gold in Inferred Resources, contained within 12.22 Mt grading 1.54 g/t Au. The MRE was prepared by Micon International Limited with an effective date of March 27, 2024. This Maiden Mineral Resource Estimate at Ghanie signifies a major shift towards realising the district-scale nature of the OKO gold system.

The Ghanie Zone represents a disseminated bulk mineable and open-pittable deposit which strongly complements the adjacent high-grade underground deposit at the OMZ. Ghanie South (GS), Central (GC), and North (GN) all remain open with substantial depth potential. A recent high-grade discovery at Ghanie North (GDD-93) returned 24.5m @ 5.3 g/t Au from 124 metres downhole (including 4.5m @ 25.2 g/t Au from 134.5m).

This intercept is indicative of additional near surface mineralization and there is much evidence to suggest the potential for further zones to be discovered along the 1.75-kilometre strike. Since April 2022, the Oko Main Zone (OMZ) has been further defined with additional Indicated resources confirmed. The OMZ is characterised by shear vein hosted mineralization with spectacularly high grade.

Notably, the Shear 5 Indicated Underground Resource averages 15.78 g/t Au. The Resource at the OMZ has been diluted to a minimum mining width of 2 metres. The Company?s geological model is evolving and becoming more predictive, leading to regular discoveries along the 20-kilometre-long Oko-Aremu trend.

Approximately 500 metres to the North-West of the OMZ lies the recent NW OKO discovery where NWOD-22 intercepted 15.0m @ 6.3 g/t. The company will be introducing an additional drill rig at NW OKO. The Company?s mandate is to add value through additional discoveries to complement the continuing expansion of the OMZ and Ghanie resource with a focused on exploring near surface mineralization. In April 2024, the Company is to commence drilling at Tracy, located a further 5-kilometres along strike.

Subsequently, G2 will initiate drilling at Aremu. To this end, the Company is targeting a further resource estimate update in Fourth Quarter 2024. The drilling database used to estimate the Mineral Resources reported in this press release was reviewed by Micon International Limited.

A site visit was conducted by Alan J. San Martin, MAusIMM(CP), to inspect mineralized intervals, alteration assemblages and QA/QC protocols and to conduct field checks of trenches and to validate drill collars. Database verifications consisted of drill logs (including lithology, alteration, weathering), assay certificates, sample intervals, drill hole collars, downhole survey information and QA/QC results validations. 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 mineralisation are analysed for total gold using an industry-standard 500g metallic screen fire assay (MSALABS method MSC 550). All other samples are analysed for gold using standard Fire Assay-AA with atomic absorption finish (MSALABS method; FAS-121).

Samples returning over 10.0 g/t gold are analysed 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.

The Company intends to file a technical report to support the updated MRE on sedarplus.ca within 45 days of this news release in accordance with National Instrument 43-101 ? Standard of Disclosure of Mineral projects (?NI 43-101?). All scientific and technical information in this news release has been reviewed and approved by Dan Noone (CEO of G2 Goldfields Inc.), a ?qualified person?

within the meaning of National Instrument 43-101. Mr. Noone (B.Sc. Geology, MBA) is a Fellow of the Australian Institute of Geoscientists.