Ongoing Program In The Oko-Aremu District

TORONTO – G2 Goldfields Inc. reported on the ongoing drilling program in the greater OKO-AREMU district, Guyana. G2 currently holds exploration rights to 83,967 acres in the district and the New Oko Discovery Area represents the third significant gold discovery on the Company’s holdings. New discovery from the ongoing program. The discovery lies 10km north of its existing gold resources at the Oko-Ghanie Deposit (1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au). Multiple gold targets have been delineated north of existing resources along a 15km trend.

G2 has completed 69 diamond drill holes totalling 13,239m in the New Oko Discovery Area, where 56 of these holes targeted the ‘Main Shear’. This release provides assay results for 25 drill holes (AMD26 to AMD50 inclusive) totalling 4,113m, of which, 17 holes targeted the Main Shear Zone.

Drilling is primarily focused on exploring for gold mineralisation down-plunge of previously reported near surface gold intercepts. Broad zones of gold mineralisation were intercepted at vertical depths of up to 150m, with a distinct high-grade zone of mineralisation encountered in the south-western portion of the 700m long zone.

Holes AMD37 (51m @ 3 g/t Au) and AMD30 (60m @ 5.9 g/t Au) explored for down-plunge mineralisation intersected in near surface prior holes AMD10 (51m @ 1.1 g/t Au) and AMD12 (43.7m @ 1.9 g/t Au), respectively. Both holes returned significant zones of high-grade mineralisation between vertical depths of 80m and 150m. In particular, hole AMD30 intersected a very significant zone of high-grade gold mineralisation which assayed 9.3 g/t Au over a core length of 22.5m. Photographs of whole core with individual assays of this high grade zone are available at the following link.

Holes AMD41 (42m @ 2.2 g/t Au) and AMD50 (99.9m @ 2.1 g/t Au) intercepted true widths of gold mineralisation not dissimilar to that found in respective up-plunge prior holes AMD10 (51m @ 1.2 g/t Au) and AMD15 (50.5m @ 1.1 g/t Au). AMD41 and AMD50 returned grades at almost double the grade of the original holes.

New drill holes in the north-eastern portion of the New OKO Discovery returned significant intercepts of low-grade mineralisation similar in tenor to up-plunge intersections. Scout drilling at mapped parallel shear structures had limited success, with hole AMD31 returning 1.1 g/t Au over 7.5m and hole AMD40 intersecting 1.4 g/t Au over 4.5m as well as 3.8 g/t Au over 1.5m. These intersections are approximately 500m north of the New OKO Discovery and require further work.

Boaz Wade, VP Exploration, said, “This round of drilling, which was aimed at targeting higher grade zones, has delivered the two best down-hole intercepts on the New Oko Discovery to date. The other drill holes indicate continuity of mineralization within a plunging high-grade shoot as well as along strike in the broader shear structure. Extensions to the high-grade zone intersected by holes AMD30 and AMD50 will be part of the target areas for the next phase of drilling as we aim to aggressively advance exploration on this discovery with multiple drill rigs.”