G2 Goldfields Inc. (TSX-V: GTWO) (OTCQX: GUYGF) 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 (see press release dated April 26, 2022). G2 Goldfields intends to release an updated resource estimate in Q1 2023.

Highlights of the current drill results include the following:

A complete list of assay results from the current drilling is available here. Reported intercepts vary between 72% and 87% of the true widths of mineralization.

Discussion

DDH OKD-120 – 9.5 g/t Au over 7.8m

This intercept pierced the northern part of Shear Zone 3 and adds confidence to the high-grade nature of this zone.

DDH OKD-121 – 12.7 g/t Au over 6m & 58 g/t Au over 3.7m

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.

DDH OKD-123 – 7 g/t over 9.6m

The intercept confirms the continuity of mineralization below the -180m RL in Shear 3 which remains open to depth.

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 mineralization 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 involved in the discovery of more than 7 million ounces of gold in Guyana and the financing and development of Guyana’s largest gold mine (RPA, 43-101, Technical Report on the Aurora Gold Mine, March 31, 2020). The Oko Main Zone discovery is the initial fruit of the application of this extensive in-country experience.

Ongoing exploration within the 17km long Aremu – Oko trend has generated multiple drill targets, similar in geological setting and scale to Oko Main. The Aremu – Oko district has been a prolific alluvial goldfield since the rush of the 1870’s. Modern exploration by the G2 Goldfields team has begun and continues to reveal the exceptional potential of this district.

All scientific and technical information in this press release has been prepared under the supervision of 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 Member of the Australian Institute of Geoscientists.