G2 Goldfields Inc.  (TSX-V: GTWO) (OTCQX: GUYGF) announces additional assay results from the ongoing drill program at the Company’s newly discovered Ghanie Zone located within G2’s 19,200-acre OKO Project, Guyana.

The Ghanie area is the second significant discovery made by G2 and lies between the Company’s OKO Main Zone (OMZ) (974,000 oz inferred, and 220,000 oz indicated; see press release dated April 25, 2022) and Reunion Gold’s Block 4 discovery. Diamond drilling has continued to intersect significant near surface disseminated gold mineralization, with the new zone now defined over a strike length of 800 metres. G2 will be aggressively drilling this discovery with multiple drill rigs whilst continuing to advance additional regional targets to the drill-ready stage.

Assay results for a total of fifteen diamond drill holes are reported hereunder. A complete list of drill results is available here. Highlights of the fifteen drill holes are summarized below.

^{Intervals in this press release have been calculated using a grade cut-off of 0.3 g/t Au and up to 10 metres maximum length of internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths.}

A plan view of the recent drilling results is available here. Three cross sections from the centre of the Ghanie zone are available here. Significantly, all gold mineralization discovered to date lies within 100 vertical metres of surface along the established 800 metres strike length. In addition, the recent results have established a higher-grade core within the footwall of the deposit as evidenced by the following holes:

Boaz Wade, V.P. Exploration, stated, “The latest drill results from the Ghanie target have confirmed a significant new discovery directly to the south of our OMZ deposit. The high-grade footwall zone, within the broader zone of disseminated gold mineralization, is continuous and remains open along strike and down plunge.”

Patrick Sheridan, Executive Chairman, commented, “The G2 exploration team continues to discover highly prospective gold targets at OKO. We now have a considerable pipeline of new areas to explore whilst we expand areas with established mineralization.”

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.

The G2 Goldfields team is comprised of professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana as well as the financing and development of the Aurora Gold Mine, Guyana’s largest gold mine. G2 recently announced its maiden mineral resource estimate on the newly discovered Oko property in Guyana (see press release dated April 25, 2022), and has recently filed on SEDAR an independent technical report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Oko Gold property, Cooperative Republic of Guyana, South America”, with an effective date of April 14, 2022.

Highlights of the report include:

• 974,000 oz. Au – Inferred Mineral Resource contained within 3,274,000 tonnes @ 9.25 g/t Au; and
• 220,000 oz. Au – Indicated Mineral Resource contained within 793,000 tonnes @ 8.63 g/t Au.

Significantly, all of the maiden mineral resources lie within 350 meters of surface and remain open down plunge. G2 continues to expand this maiden resource while discovering additional areas for diamond drilling.

All scientific and technical information in this press release has been prepared under the supervision of Dan Noone, a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc. Geology, MBA) is a Member of the Australian Institute of Geoscientists.