G2 Goldfields extends strike length to 1.7 km at Oko and Reports 17.8 g/t Au over 2.5 m, 9.5 g/t Au over 4.4 m, 21.1 g/t Au over 2.1 m, and 26.1 g/t Au over 1.6 m in three separate holes

G2 Goldfields Inc. is pleased to announce multiple high-grade drilling intercepts from the Company’s ongoing drilling program at the 19,200-acre Oko-Aremu property, Region 7, Guyana.  The Company has completed 63 diamond drill holes to date, totalling 13,971 metres.  Drilling has demonstrated that within the Oko mine area high-grade gold mineralization is hosted in (i) shallow north plunging hinge zones, and (ii) in steeply dipping limbs of tightly folded carbonaceous sediments.

Highlights of recent drilling in the main Oko zone include 17.8 g/t Au over 2.5 m (OKD – 46), 9.5 g/t Au over 4.4 m (OKD – 47), as well as 21.1 g/t Au over 2.1 m and 26.1 g/t Au over 1.6 m (OKD – 48).  Significantly, a series of drill holes to the south of the main Oko zone have also encountered gold mineralization, with hole OKD – 37 intercepting multiple zones of mineralization including 7.6 g/t Au over 2.6 m.  Recent drilling demonstrates that the limits of mineralization at Oko have yet to be defined.  A list of completed drill hole locations is available at the following link https://g2goldfields.com/wp-content/uploads/2020/07/DrillHoleLocations.pdf.

Oko Main Drilling Zone

Drilling in the Oko main zone continues to provide encouraging results. Several holes intercepted multiple zones of mineralization, a select list of which is available in Table 1.  A plan view of drilling completed to date at Oko with selective high-grade results is available herein as Figure 1.

TABLE 1

HOLE	FROM (m)	TO (m)	INTERVAL (m)	GRADE G/T AU
OKD – 40	300.4	307.4	7.1	1.3
OKD – 44	123.1	124.8	1.7	1.0
	193.9	201.0	7.1	0.8
Incl	197.0	198.8	1.8	2.1
	217.3	218.6	1.6	1.6
	243.6	247.9	4.3	1.4
Incl	243.6	244.3	0.7	4.1
	329.0	329.4	0.4	3.6
	335.0	336.2	1.2	2.9
OKD – 45	289.7	290.1	0.4	11.2
OKD – 46	53.0	54.4	1.4	1.3
	188.0	190.5	2.5	17.8
	257.9	260.5	2.6	4.7
Incl	256.6	257.9	1.3	7.6
	263.8	264.6	0.8	33.7
OKD – 47	89.0	90.0	1.0	2.9
	93.4	93.8	0.4	2.4
	195.4	208.0	12.6	2.3
Incl	197.6	198.6	1.0	5.3
Incl	206.7	207.5	0.8	10.6
	219.0	223.4	4.4	9.5
	237.1	237.5	0.4	7.1
	239.4	240.9	1.5	1.3
	271.0	271.5	0.5	15.3
	277.1	277.5	0.4	1.9
	279.8	280.3	0.5	1.2
OKD – 48	162.3	162.8	0.5	1.0
	216.9	219.0	2.1	21.1
	272.6	273.0	0.5	5.5
	295.4	297.0	1.6	26.1

Regional Exploration Update

Oko South

South of, and adjacent to, the main Oko Deformation Zone (ODZ), a recently optioned property was subject to initial geological mapping and reconnaissance diamond drilling.  Three diamond drill holes (OKD – 37, 39 & 41) explored a 700 m section along a prominent shear zone.  Holes OKD – 37 and 39 intersected multiple zones of mineralization including 8 g/t Au over 1 m, 7.6 g/t Au over 2.6 m and 10.9 g/t Au over 0.4 m (OKD – 37) as well as 1.6 g/t Au over 12 metres (OKD – 39).  Highlights of drilling results from Oko South are contained in Table 2.

TABLE 2

HOLE	FROM (m)	TO (m)	INTERVAL (m)	GRADE G/T AU
OKD- 36	130.8	133.4	2.6	2.6
Incl	130.8	131.7	0.9	6.6
OKD – 37	71	72	1	8.0
	78.8	81.4	2.6	7.6
	182.3	186.5	4.2	1.7
Incl	182.3	182.7	0.4	10.9
OKD – 38	128.5	129.5	1	2.6
	150.5	151.5	1	5.4
	168	170.2	2.2	4.0
Incl	168	168.8	0.7	6.4
	169.6	170.2	0.7	6.4
	186	187	1	1.0
OKD – 39	7.5	10.5	3	0.8
	36	37	1	3.1
	76	77	1	1.3
	81	93	12	1.6
Incl	81	82	1	6.2
	90	92	2	3.6
OKD – 41	13	17	4	3.6
	25	31	6	0.8

Mineralization south of the main Oko zone appears to be comprised of steeply south-east plunging shoots.

These initial results have demonstrated the potential of this new area and have defined gold mineralization between lines 703000 N and 704700 N, a strike length of 1.7 km.  Interpreted Geology and a diamond drilling plan at Oko South is available at the following link https://g2goldfields.com/wp-content/uploads/2020/07/OkoSoutnMainZone.pdf.

Aremu and Tracy

The Aremu-Oko high grade district extends over 17 km (see Figure 2).  The high-grade mineralization at Aremu and Tracy reflects the same structural and geological setting as seen at Oko.  At the historic Aremu Mine, over 20 auriferous veins have been mined over a 4-kilometer strike length, both through open-pit and underground methods (see technical report dated January 25, 2019 available on Sedar.com).

Dan Noone, G2 CEO, stated, “Our enhanced understanding of the geological and mineralization model is accelerating the targeting and discovery process. G2’s recently completed $5 million financing ensures a steady stream of exploration results for the balance of the year”.

QA/QC
Drill core is logged and sampled in a secure core storage facility located on the Oko project site, Guyana. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to MSALABS Guyana, in Georgetown, Guyana, which is an accredited mineral analysis laboratory, for analysis. Samples from sections of core with obvious gold mineralization are analyzed for total gold using an industry standard 500g metallic screen fire assay (MSALABS method MSC 550). All other samples are analysed for gold using standard Fire Assay-AA with atomic absorption finish (MSALABS method; FAS-121). Samples returning over 10.0 g/t gold are analyzed utilizing standard fire assay gravimetric methods (MSALABS method; FAS-425). Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of G2 Goldfield’s quality control/quality assurance program (QAQC). No QA/QC issues were noted with the results reported herein.

About G2 Goldfields Inc.

G2 Goldfields Inc. is focused on the discovery of large gold deposits in the Guiana Shield.  The Company owns a 100% interest in two past gold producing mines, as well as a regional portfolio of highly prospective projects.

All scientific and technical information in this press release has been prepared under the supervision of Dan Noone (CEO of G2 Goldfields Inc.), a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc. Geology, MBA) is a Member of the Australian Institute of Geoscientists.

For further information please contact:
Dan Noone
CEO
+1.416.628.5904
Email: d.noone@g2goldfields.com