OKO Project Intercepts High Grade Gold Intercepts

TORONTO - G2 Goldfields Inc. reports additional high grade gold intercepts from the ongoing drill program at the 19,200-acre OKO Project, Guyana. G2 currently has five diamond drill rigs operating on the project.

High grade gold zones in the Shear 3 structure appear to be hosted in distinct upper and lower zones. The Upper Zone was further defined by hole OKD-180 which intercepted 13.0 g/t Au over 8.9 m followed by an extensional quartz vein a further 6.6 m downhole which assayed 1275.1 g/t Au over 0.8 m (40.8 ounces per ton over 2.6 feet). Hole 182 expanded this Upper High-grade Zone a further 70 m down-plunge and returned 14.4 g/t Au over 3.6 metres. Hole OKD-181W2 expanded the Lower Zone Area of Shear 3 by intercepting 53.1 g/t Au over 5.7m (from 345.6 m downhole). This high-grade structure lies 65 m down-plunge of Hole 121 (12.7 g/t Au over 6.0 m). All of the Shear 3 zones remain open to depth.

In Shear 5, OKD-181W2A intercepted 4.0m @ 36.8 g/t Au from 508m. This intercept lies 50 metres down-plunge from hole OKD-178 which returned 32 g/t Au over 6.7m. The lower part (below 225 metres) of the Shear 5 high grade zone is now defined by 15 pierce points of which nine exceed 100 gram x metres of which two exceed 200 gram x metres. Shear 5 remains open to depth and represents an outstanding target for additional high-grade gold.

In addition to high grade intercepts in Shear 3, hole OKD-182 also intercepted Shear 1 at a downhole depth of 88.1m. This near surface zone assayed 5.6 g/t Au over 6.2 metres. Shear 1, omitted from the original maiden resource estimate due to lack of data is now the subject of an ongoing drilling campaign targeting NE plunging shoots. The Shear 1 Zone appears to be geologically similar to the Ghanie area, located approximately 1 km to the South.

Soil and stream sampling programs have been completed across both the Tracy and Amsterdam Zones. Scout drilling has commenced at the OKO North and OKO Northwest areas. Dan Noone, CEO, stated, “We continue to explore the OKO district with five drill rigs and multiple exploration teams. As we increase our knowledge and understanding of the district, we also increase the probability of additional exploration success. We look forward to publishing a new, updated Resource Estimate in early 2024 and also to drilling multiple new target areas in the coming months.”