• Tocantinzinho reaches commercial production on time and on budget in less than two years
• Tocantinzinho engineered to have a 10.5-year mine life with an average annual gold production of 174,700 ounces, and an average annual gold production of 196,200 for the first five full years
• Nameplate throughput expected by Q1 2025
• Share price outperformed GDXJ by +120% since the construction decision in September 2022

G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has reached commercial production on time and on budget at its 100%-owned Tocantinzinho Gold Mine located in the State of Pará, Brazil. Commercial production is defined as a period of 30 consecutive days of operations during which the mill operated at a minimum of 60% of nameplate throughput of 12,890 tonnes per day. During August 2024, the mill operated at 76% of nameplate throughput, processing a total of 304,312 ore tonnes (9,817 tpd) at a recovery rate of 88%.

Louis-Pierre Gignac, President & Chief Executive Officer, commented: “I am proud to announce this momentous achievement of starting commercial production at the Tocantinzinho Gold Mine. We have delivered TZ on time and on budget, with an industry-leading safety record. This achievement is the culmination of 5.8 million person-hours focused on building, testing and ramping up production at Brazil’s newest major gold mine. I would like to recognize the immense efforts of our dedicated team, who have invested their talent, expertise, and passion in reaching this transformational milestone. With this accomplishment behind us, we remain committed to enhancing plant performance and achieving our production and cost KPIs.”

The plant’s ramp-up continues to progress in line with internal production schedules, with all major equipment demonstrating the capability to operate at or above design levels. After the initial pour announced in July 2024, GMIN has focused on ramping production to test the processing circuits’ ability to handle nameplate loads while improving recovery toward a life of mine average of 90%. The Corporation plans to ramp up production through H2-24, targeting nameplate throughput by Q1 2025.

TZ is engineered to have a 10.5-year mine life with an average annual gold production of 174,700 ounces and 196,200 ounces for the first five full years, capitalizing on the record-high gold price environment. The Corporation plans to provide annual guidance for TZ in January 2025.

Virtual Site Tour and Feasibility Study Presentation

Updated satellite imagery and 360 photography showing the site progress is available through the corporate presentation at: https://vrify.com/decks/14338. A 3D presentation of the Project Feasibility Study is available at: Feasibility Study 3D VRIFY Presentation. Both presentations can be accessed by visiting GMIN’s website at https://www.gmin.gold.

Timetable and Next Steps

Upcoming key milestones include:

• September 2024: Preliminary Economic Assessment on the Oko West Project
• Q4-2024: Exploration results from the Oko West Project
• Q4-2024: Exploration results from TZ
• Q1-2025: Nameplate capacity reached at TZ

Qualified Person

Louis-Pierre Gignac, President & Chief Executive Officer of GMIN, a QP as defined in NI 43-101, has reviewed the press release on behalf of the Corporation and has approved the technical disclosure contained in this press release.

About G Mining Ventures Corp.

G Mining Ventures Corp. is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the Tocantinzinho Gold Mine in Brazil and Oko West Project in Guyana, both mining friendly and prospective jurisdictions.