G2 Goldfields Inc. continues to expand and define high grade gold mineralization at the Company's 19,200-acre OKO project, Guyana. The Company has completed 131 diamond drill holes to date of which a further eight holes are reported herein. Drilling is focussing on expanding and further defining the Company's initial resource estimate of 974,000 oz (@ 9.25 g/t Au) inferred and 220,000 oz (@ 8.63 g/t Au) indicated.

G2 Goldfields intends to release an updated resource estimate in First Quarter 2023. This intercept pierced the northern part of Shear Zone 3 and adds confidence to the high-grade nature of this zone. The upper section of this hole provides further evidence of the high-grade shoots within Shear 3. The lower intercept is 397m below surface and is the deepest intercept in Shear 5 to date, extending mineralization a further 87m down dip from previously reported OKD-115 (37.2 g/t Au over 4.2m).

Shear Zone 5 currently has inferred resources of 511,000 oz at 11.55 g/t Au. The intercept confirms the continuity of mineralization below the -180m RL in Shear 3 which remains open to depth.