Deepest Hole To Date Drilled At Ghanie Discovery

TORONTO - G2 Goldfields Inc. reported on the ongoing drill program at the Ghanie Zone located within the 19,200-acre OKO Project, Guyana. The Ghanie Zone is the second significant discovery on the project and lies between the OKO Main Zone and Reunion Gold’s Block 4 discovery. G2 intends to release an updated resource estimate for the OKO Project (which will include the OMZ, Ghanie and Shear 1 zones) in the second half of 2023.

Diamond drilling has continued to intersect significant mineralization at Ghanie which now has a strike length in excess of 1 km. Hole GDD-55 is the deepest drill intercept to date in the central portion of the Ghanie area where multiple intercepts of high-grade gold have been previously reported. Hole GDD-32 was collared approximately 100m south of GDD-55 and targeted down plunge mineralization encountered in GDD-18 (25m @ 2.2 g/t Au), GDD-20 (30.4m @ 1.8 g/t Au), and GDD-10 (26.6m @ 5.1 g/t Au). Hole GDD-43 intercepted multiple zones of gold mineralization in the northern part of the Ghanie Zone, including a new high-grade zone near the top of the hole which returned 10 g/t Au over 10.5 meters. Hole GDD-36 was drilled in the southern part of the Ghanie area and establishes multiple parallel zones of near surface mineralization.

The current drill results continue to expand the strike of the Ghanie Zone and further establish high priority targets for follow up drilling in the north, south and central areas. Significantly, hole GDD-55 (27m @ 6.5 g/t Au) highlights the potential for the discovery of additional high-grade mineralization down plunge of previous intercepts.

Dan Noone, CEO, stated, “This latest round of results continues to build upon our understanding of the OKO Project and provides further encouragement for future exploration work in this emerging district.”