Core Viewpoint - G2 Goldfields Inc. has successfully obtained shareholder approval for the spin-out of its non-core assets into G3 Goldfields Inc., a wholly owned subsidiary, through a plan of arrangement under the Canada Business Corporations Act [1][4]. Voting Results - A total of 190,251,811 G2 Shares were voted, representing approximately 74.03% of all outstanding shares [2]. - The election of directors received significant support, with J. Patrick Sheridan receiving 99.21% approval and Daniel Noone receiving 96.69% [3]. - The approval for the spin-out plan was overwhelmingly supported, with 99.96% of votes cast in favor [3]. Spin-Out Update - The final court hearing for the spin-out approval is scheduled for December 3, 2025, and the completion is expected in Q1 2026, pending regulatory approvals [4]. - G2 will transfer its interests in non-core assets to a Guyanese subsidiary of G3 and provide approximately C$15 million in cash to meet G3's working capital needs [5]. Share Distribution - G2 shareholders will receive one G3 Share for every two G2 Shares held as of the effective date of the spin-out [5]. - Only shareholders of G2 as of the close of business on the effective date will be entitled to receive G3 Shares, with no change in their holdings in G2 as a result of the spin-out [5]. Company Overview - G2 Goldfields focuses on finding and developing gold deposits in Guyana, with a history of discovering over 10 million ounces of gold in the Guiana Shield [7]. - The company announced an updated mineral resource estimate for the Oko property, highlighting significant inferred and indicated gold resources [7][11].

Core Insights - G2 Goldfields Inc. is advancing the Oko Gold Project in Guyana towards production, with an updated Mineral Resource Estimate (MRE) and a maiden Preliminary Economic Assessment (PEA) expected in November 2025 [1][2] - The Oko Project is a high-grade gold project with significant exploration activities aimed at resource growth and regional discovery [1][2] Corporate Update - The Oko Project is adjacent to the Oko West Project developed by G Mining Ventures Corp. G2 will publish its maiden PEA based on data from 666 diamond drill holes totaling 170,329 meters, with a cut-off date of August 31, 2025 [2] - The PEA will evaluate the economic viability of a standalone mining operation that includes multiple open pits and underground operations [2] - G2 is conducting additional environmental and geotechnical studies to support permitting activities for the Project [2] Spin-Out of G3 Goldfields Inc. - G2 will complete a spin-out of G3 Goldfields Inc., where G2 shareholders will receive one G3 share for every two G2 shares held as of the effective date [3] - G3's exploration portfolio includes three historical gold mines covering approximately 87,000 acres [3] - The spin-out is subject to regulatory and court approvals, as well as a two-thirds vote at the annual general meeting on November 27, 2025 [3] Near-Mine Resource Growth and Discovery Drilling Programs - In September, G2 conducted a comprehensive review of existing data and completed a drone-assisted geophysical survey over its 105,000-acre land package [4] - This review led to the identification of eight high-priority drill target areas for near-mine resource growth and discovery [4] Highlights of Upcoming Assessments - The maiden PEA is anticipated to be released in November, alongside the completion of the G3 spin-out in December [6] - Drilling is currently underway with multiple rigs testing new high-priority targets, including visible gold identified in two of five maiden drill holes in a new border zone [6] Target Areas for Drilling - **Target 1 - Border Zone**: Focuses on extensions of high-grade drilling intercepts by G Mining, with planned drilling of 7,400 meters [8] - **Target 2 - OMZ West**: Involves drilling to test shear zones with high-grade mineralization, with an initial program of 2,200 meters planned [12] - **Target 3 - High Hill**: Initial drilling has shown promising results, with a follow-up program of 1,060 meters planned [15] - **Target 4 - Oko North**: This area has indicated resources of 808,000 ounces and inferred resources of 513,500 ounces, with an 800-meter drill program planned [20] - **Target 5 - Birdcage**: A 1,700-meter drill program is planned to test the known strike extent of the shear structure [23] - **Target 6 - RED Zone**: Initial drilling has defined a shear zone over 300 meters, with further drilling planned [24] - **Target 7 - Sands**: An 800-meter diamond drill program is planned to explore a quartz vein exposed by artisanal mining [25] - **Target 8 - Aremu West**: Initial soil sampling has identified gold anomalies, with trenching planned to follow up [30] Company Overview - G2 Goldfields Inc. focuses on finding and developing gold deposits in Guyana, with a history of discovering over 10 million ounces of gold in the Guiana Shield [33] - The updated MRE for the Oko property includes significant resources across various zones, indicating the project's potential [36][34][35]

Core Viewpoint - G2 Goldfields Inc. plans to spin out its non-core properties into a new entity, G3 Goldfields Inc., to unlock value for shareholders and focus on its primary OKO project in Guyana [1][2]. Spin-Out Details - The spin-out will involve transferring non-core assets and a cash amount to G3 through a plan of arrangement under the Canada Business Corporations Act [1]. - Each G2 shareholder will receive one share of G3 for every two shares of G2 held as of the effective date of the arrangement [3]. - The spin-out requires shareholder approval at a meeting scheduled for November 27, 2025, where a special resolution will be presented [4]. Regulatory and Listing Information - The completion of the arrangement is contingent upon G2 entering into an arrangement agreement and receiving necessary regulatory and court approvals, including from the Toronto Stock Exchange [5]. - G3 shares are intended to be listed on the Canadian Securities Exchange, subject to meeting all listing requirements [5]. Additional Information - Further details regarding the spin-out will be provided when G2 enters into the arrangement agreement and will be included in the management information circular to be filed in early November 2025 [6]. - G2 Goldfields focuses on gold exploration and development in Guyana, with a significant mineral resource estimate for the OKO property, including 513,500 ounces of inferred gold [7][9].

Secures two new large European investorsUpdated Mineral Resource Estimate (MRE) anticipated in early Q4/25Preliminary Economic Assessment (PEA) anticipated in Q4/25Update on Proposed G3 Spin-Out TORONTO, July 10, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) would like to provide further details on recent trading activity in the Company’s common shares, as well as provide a general corporate update on near-term catalysts and deliverables. Recent Trading Activ ...