G2 Goldfields Receives Notice of Grant of Large Scale Prospecting Licenses of the Oko Gold Project

Core Viewpoint - G2 Goldfields Inc. has received approval for two Large Scale Prospecting Licenses for its Oko-Ghanie Gold Deposit in Guyana, marking a significant advancement for the project and highlighting the company's strong relationship with the Guyanese government [1][2]. Group 1: Project Development - The approved Prospecting Licenses cover the Oko and Ghanie Deposits, which contain a combined total of 1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au, across approximately 17,451 acres [2]. - The licenses replace 11 medium-scale mining permits previously held by local entrepreneurs and have a three-year term with two one-year renewal options, granting exclusive rights to explore for gold and precious minerals [2]. Group 2: Environmental Considerations - Comprehensive environmental baseline studies have been conducted over the past two years to ensure effective project design and regulatory compliance, supporting the preparation of an Environmental Social Impact Assessment (ESIA) [3]. - The project area is not designated as a priority conservation site and does not overlap with any protected or Indigenous lands, indicating a favorable environmental context for development [3]. Group 3: Industry Context - Guyana has been recognized as a top ten jurisdiction globally for mining investment, reflecting the country's supportive stance towards the gold mining industry and foreign investment [2]. - G2 Goldfields has a history of discovering and developing significant gold deposits in Guyana, with the Oko Gold Project being the second multi-million ounce gold mine developed by the company in the last twenty years [2]. Group 4: Mineral Resource Estimates - An Updated Mineral Resource Estimate (MRE) for the Oko property was announced in March 2025, detailing significant resources across various zones, including 808,000 ounces Au indicated at 7.98 g/t Au and 1,024,500 ounces Au inferred at 2.64 g/t Au [5][6][7]. - The MRE was prepared by Micon International Limited and has an effective date of March 1, 2025, showcasing the ongoing exploration potential of the Oko district [7].