G2 Drills Best Holes to Date in New OKO Surface Discovery

• Drilling intersects broad zones of high-grade gold mineralization down plunge of original Discovery Zone
• High grade intersections include:
  • AMD30 – 5.9 g/t Au over 60 metres (m) including 9.3 g/t Au over 22.5m
  • AMD50 – 2.2 g/t Au over 99.9m including 5.5 g/t Au over 25.5m
  • AMD37 – 3.0 g/t Au over 51.0m including 6.3 g/t Au over 10.5m
• Five drill rigs active in the Discovery Area
• Updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) anticipated in Q4 2025
  
  
  
  

TORONTO, July 15, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) announces new assay results from the Company’s ongoing drilling program in the greater OKO-AREMU district, Guyana. G2 currently holds exploration rights to 83,967 acres in the district and the New Oko Discovery Area represents the third significant gold discovery on the Company’s holdings. Drill results within this release are part of an ongoing program from a new discovery initially announced in March (see press releases dated March 18, April 1, April 28 and June 9, 2025, available on SEDAR+ and the Company’s website) which lies 10km north of its existing gold resources at the Oko-Ghanie Deposit (1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au). Multiple gold targets have been delineated north of existing resources along a 15km trend.

Figure 1 — Plan View of District Target Areas

G2 has completed 69 diamond drill holes totalling 13,239m in the New Oko Discovery Area, where 56 of these holes targeted the ‘Main Shear’. This release provides assay results for 25 drill holes (AMD26 to AMD50 inclusive) totalling 4,113m, of which, 17 holes targeted the Main Shear Zone. Complete results for all 25 holes are available  and results for the holes targeting the Main Shear are contained within Table 1 below.

Table 1 – Select Assay Results from New OKO Discovery

DRILL HOLE	FROM (METRES)	TO (METRES)	INT. (METRES)	GRADE (G/T AU)		GRADE X DH WIDTH
AMD26	No significant intercept.
AMD27	77.0	80.0	3.0	1.0	2.9
AMD27	90.5	93.5	3.0	3.4	10.1
AMD29	23.5	34.0	10.5	0.6	6.7
AMD30	80.5	82.0	1.5	1.8	2.7
AMD30	90.0	150.0	60.0	5.9	351.2
INCL.	127.5	150.0	22.5	9.3	209.0
AMD32	No significant intercept.
AMD34	103.5	111.0	7.5	3.2	24.0
AMD35	73.5	105.5	32.0	0.4	11.9
AMD37	83.5	134.5	51.0	3.0	150.5
INCL.	89.5	100.0	10.5	6.3	66.3
AMD38	118.0	132.0	14.0	1.1	16.1
AMD38	153.0	185.0	32.0	0.4	13.2
AMD41	33.0	75.0	42.0	2.2	93.8
INCL.	33.0	37.5	4.5	9.3	41.9
AMD42	183.0	236.0	53.0	0.5	26.2
AMD44	72.5	75.5	3.0	1.0	2.9
AMD45	168.0	206.5	38.5	0.6	21.3
AMD46	128.0	129.5	1.5	0.5	0.8
AMD48	18.5	21.0	2.5	0.6	1.6
AMD48	46.0	65.5	19.5	0.6	11.7
AMD49	62.5	64.0	1.5	1.1	1.7
AMD49	207.0	227.0	20.0	1.1	22.2
AMD50	52.5	152.4	99.9	2.2	224.4
INCL.	74.0	99.5	25.5	5.5	141.3

Notes to Table 1: Intercepts reported are down-hole widths. True widths are estimated between 49% and 93% of reported down-hole widths. Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade intercepts.

Discussion of Results

Drilling is primarily focused on exploring for gold mineralisation down-plunge of previously reported near surface gold intercepts. Broad zones of gold mineralisation were intercepted at vertical depths of up to 150m, with a distinct high-grade zone of mineralisation encountered in the south-western portion of the 700m long zone.

Figure 2 – Long Section of New OKO Discovery

Holes AMD37 (51m @ 3 g/t Au) and AMD30 (60m @ 5.9 g/t Au) explored for down-plunge mineralisation intersected in near surface prior holes AMD10 (51m @ 1.1 g/t Au) and AMD12 (43.7m @ 1.9 g/t Au), respectively. Both holes returned significant zones of high-grade mineralisation between vertical depths of 80m and 150m. In particular, hole AMD30 intersected a very significant zone of high-grade gold mineralisation which assayed 9.3 g/t Au over a core length of 22.5m. Photographs of whole core with individual assays of this high grade zone are available at the following .

Holes AMD41 (42m @ 2.2 g/t Au) and AMD50 (99.9m @ 2.1 g/t Au) intercepted true widths of gold mineralisation not dissimilar to that found in respective up-plunge prior holes AMD10 (51m @ 1.2 g/t Au) and AMD15 (50.5m @ 1.1 g/t Au). AMD41 and AMD50 returned grades at almost double the grade of the original holes.

Figure 3 – Oblique View of New OKO Discovery 

New drill holes in the north-eastern portion of the New OKO Discovery returned significant intercepts of low-grade mineralisation similar in tenor to up-plunge intersections. Scout drilling at mapped parallel shear structures had limited success, with hole AMD31 returning 1.1 g/t Au over 7.5m and hole AMD40 intersecting 1.4 g/t Au over 4.5m as well as 3.8 g/t Au over 1.5m. These intersections are approximately 500m north of the New OKO Discovery and require further work.

Figure 4 – Plan View of New OKO Discovery

Boaz Wade, VP Exploration, commented “This round of drilling, which was aimed at targeting higher grade zones, has delivered the two best down-hole intercepts on the New Oko Discovery to date. The other drill holes indicate continuity of mineralization within a plunging high-grade shoot as well as along strike in the broader shear structure. Extensions to the high-grade zone intersected by holes AMD30 and AMD50 will be part of the target areas for the next phase of drilling as we aim to aggressively advance exploration on this discovery with multiple drill rigs.”

Dan Noone, CEO, added: “These are some of the best holes drilled in the region to date. Near surface, high-grade hits like these bode well for our upcoming mineral resource estimate expected in early Q4 2025 - the Company’s fourth resource estimate in the last three years - as well as a Preliminary Economic Assessment (PEA) expected in Q4 2025.”

QA/QC 

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.

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 oz. Au – Inferred contained within 3,473,000 tonnes @ 4.60 g/t Au
• 808,000 oz. Au – Indicated contained within 3,147,000 tonnes @ 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 @ 2.64 g/t Au
• 663,400 oz. Au – Indicated contained within 10,288,000 tonnes @ 2.01 g/t Au

Total open pit Resource for the Oko NW Zone:

• 97,200 oz. Au – Inferred contained within 4,976,000 tonnes @ 0.61 g/t Au
  
  
  
  

The MRE was prepared by Micon International Limited 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 (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.

Additional information about the Company is available on SEDAR+ () and the Company's website ().

On behalf of the Board of G2 Goldfields Inc.

“Daniel Noone”

CEO & Director

For Further Information

Jacqueline Wagenaar, VP Investor Relations

Direct: +1.416.628.5904 x.1150

Email:

Forward-Looking Statements

This news release contains certain forward-looking statements, including, but not limited to, statements about multiple gold targets delineated north of existing resources along a 15km trend, the new Oko surface discovery remaining open, the mineralization and mineral resource estimates in respect of the Company’s properties, an updated MRE and PEA and the anticipated timing thereof. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “schedule”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including the risk factors set out in the annual information form of the Company for the year ended May 31, 2024. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Photos accompanying this announcement are available at: 

A pdf accompanying this announcement is available at: