G Mining Ventures Corp. (TSX:GMIN) (OTCQX:GMINF) is pleased to announce that its Board of Directors has formally approved the commencement of full construction of its 100%-owned Oko West Gold Project in Guyana, following the completion of permitting and financing milestones. Additionally, GMIN is excited to provide a progress update on Project construction activities, including engineering, procurement and early works activities. Unless otherwise stated, all dollar amounts in this news release are expressed in U.S. dollars.

• The Board of Directors has approved a positive construction decision for the Oko West Gold Project, with an initial capital cost of $973 million
• Detailed engineering is 36% complete
• Procurement and commitments for long-lead items are progressing, with $334 million committed to date, representing 33% of the total initial capital budget
• Early works construction activities are advancing on schedule

“The official launch of construction at Oko West marks a major milestone in GMIN’s evolution into an intermediate gold producer,” said Louis-Pierre Gignac, President & Chief Executive Officer. “With financing secured, we are advancing this fully permitted, world-class project using the same disciplined, self-perform approach that delivered Tocantinzinho safely, on time and on budget. Oko West will build on that success as the next cornerstone of our growth strategy, with first gold targeted for the second half of 2027”.

Project Update (as of September 30, 2025)

Project Cost

• $110M has been spent, with an additional $46M in prepayments, for a total expenditure of $156M
• Total commitments for project construction now stand at $334M (including amounts spent), representing 33% of the total initial capital cost estimate of $973M

Safety Record & Workforce

• Total workforce of 710 of which 520 are employees and 190 are contractors
• Over 80% of workforce are Guyanese nationals
• 596,551 hours worked to date with one recordable incident to date, resulting in a Total Recordable Incident Rate (TRIFR) of 0.33
• Completed a technical training program in partnership with the Ministry of Labour of Guyana, benefiting 200 residents from region 7, the administrative region hosting the Project.

Sustainability & Permitting

• Permitting: Fully permitted under Environmental Permit No. 20230912-RGIGM, issued by the Environmental Protection Agency on August 29, 2025. The permit is valid for five years and authorizes both construction and operational activities
• Licensing: The Mining License application has been submitted to the Guyana Geology and Mines Commission and is expected to be issued in Q4 2025
• Environmental and Social Management: The Corporation is advancing the implementation of a comprehensive Environmental and Social Management System addressing biodiversity conservation, water quality, waste management, air and noise control
• Community Engagement: A Community Development Committee has been established in Region 7 to guide social investment initiatives in education, healthcare, and infrastructure

Engineering & Procurement

• Detailed Engineering: Approximately 36% complete
• Procurement: Long-lead items have been ordered, securing pricing for key equipment from reputable high-quality suppliers, including:
  • Power Plant: Supplied by Wärtsilä
  • Mining Equipment: Primary open pit and support equipment from Komatsu, with the first mining shovel scheduled for commissioning in Q4 2025
  • Processing Equipment: Grinding mills, gyratory crusher, apron feeders, and pre-leach thickener from Metso. Gravity circuit, intensive leach reactor, and gold room supplied by FLSmidth, with additional mechanical packages sourced from other suppliers

Early Works Construction

• Camp facility: Expansion of the exploration camp to a capacity of 425 beds; first two permanent dorms due in October; barge landing satellite camp completed
• Site clearing: 15 % completed
• Access: 12 km external road operational, reducing travel time by three hours on return trip
• Mass excavation: 100% complete at permanent camp; 93% at barge landing
• Concrete: 2,815 m³ poured to date, 6% of the project
• Tailings storage facility: Coffer dam completed; foundation prep and dam construction underway

Approved Initial Capital Cost

• Board approved initial capex: $973M, in line with the Feasibility Study (“FS“) estimate
• Indirect costs: Increased due to additional construction equipment purchases
• Pre-production revenue: 30,000 ounces (“oz”) at $3,200/oz vs $2,500/oz in FS
  Contingency (incl. pre-production revenue): 8.8%

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 Mine in Brazil, supported by the Gurupi Project in Brazil and the Oko West Project in Guyana — all with significant exploration upside and located in mining-friendly jurisdictions. GMIN trades on the TSX under the symbol “GMIN”.

Figure 1 – Earthwork Progress at Industrial Area (CNW Group/G Mining Ventures Corp)

Figure 2 – Permanent Camp Construction (CNW Group/G Mining Ventures Corp)

Figure 2 – Permanent Camp Construction (CNW Group/G Mining Ventures Corp)

Figure 3 – Barge Landing Area (CNW Group/G Mining Ventures Corp)