If You Invested in G2 Goldfields (GUYGF)

G2 Goldfields Inc. (OTCQX: GUYGF) is a gold exploration and development company focused on finding and developing gold deposits in Guyana. The company states that its founders and principals have been directly responsible for the discovery of more than 10 million ounces of gold in the prolific and underexplored Guiana Shield. G2 Goldfields is advancing the multi-million-ounce Oko Gold Project, which includes the Oko-Ghanie gold deposits and the New Oko Discovery within a broader OKO-AREMU district land package.

According to multiple company news releases, G2 Goldfields "finds and develops gold deposits in Guyana" and is advancing the high-grade Oko Gold Project in the Cuyuni-Mazaruni Region (Region 7) of north-central Guyana. The project lies approximately 120 km west-southwest of Georgetown and 60 km west of Bartica and is accessed by an existing road network. The Oko district has been described as a prolific alluvial goldfield since its initial discovery in the 1870s, with modern exploration techniques continuing to reveal considerable potential.

Core projects and mineral resources

The company’s flagship asset is the Oko Gold Project, which includes several deposits and target areas. G2 Goldfields has reported an updated Mineral Resource Estimate (MRE) for the Oko property prepared by Micon International Limited in accordance with NI 43-101. The MRE, with an effective date of November 20, 2025, covers five deposits: Oko Main Zone (OMZ), Ghanie, Northwest Oko (Oko NW), North Oko (Oko N) and the New Oko Discovery. The company reports total combined open pit and underground Indicated resources of 1,620,600 ounces of gold and Inferred resources of 1,910,300 ounces of gold across the Oko Project.

Within this broader inventory, the company highlights high-grade underground Indicated mineral resources at the Oko Main Zone, and both open pit and underground resources at Ghanie and the New Oko Discovery. Earlier disclosures also summarized combined open pit and underground resources for the Oko Main Zone and Ghanie Zone, as well as an open pit resource for the Oko NW Zone, all within the Oko district. G2 Goldfields notes that the Oko district hosts multiple discoveries along a prominent structural trend and that the New Oko Discovery represents a third significant gold discovery on its holdings.

Oko Gold Project and development studies

G2 Goldfields has released key findings from a Preliminary Economic Assessment (PEA) for the high-grade Oko Gold Project in Guyana. The PEA outlines a combined open pit and underground operation with a 14-year life of mine, based on drilling completed up to August 31, 2025, and incorporating Indicated and Inferred mineral resources from the Oko deposits. The company reports that total gold production over the mine life is estimated at 3.2 million ounces, with production averaging 281,000 ounces per year from years 2 through 11, and that the project is envisaged as a mix of conventional open pit mining and mechanized long hole open stoping underground mining with on-site processing using a conventional circuit including comminution, gravity concentration, cyanide leach and carbon-in-leach (CIL) gold recovery.

In a subsequent news release, G2 Goldfields refers to the PEA as outlining a combined open pit and underground operation with a 14-year mine life and total estimated gold production of 3.2 million ounces, with gold production estimated at 298,000 ounces per annum during years 3 through 10. The company indicates that the Oko gold project is expected to contribute to Guyana’s economy through royalties, taxes and employment opportunities. The PEA is described as preliminary in nature and based on Indicated and Inferred mineral resources that are not mineral reserves and do not have demonstrated economic viability.

Exploration focus and drilling programs

G2 Goldfields reports extensive drilling activity across its Guyana land package. The company has described the Oko Project as a multi-million-ounce high-grade gold project located immediately adjacent to the Oko West Project being developed by G Mining Ventures Corp. It has undertaken near-mine resource growth and discovery drilling programs targeting multiple areas, including the Border Zone, OMZ West (Shears 5 and 6), High Hill, Oko North, Birdcage, Sands and other targets within its +105,000-acre land package.

At the New Oko Discovery, G2 Goldfields has reported multiple rounds of diamond drilling, with drill holes intersecting broad zones of gold mineralisation, including both near-surface and deeper intercepts. The company notes that the New Oko Discovery lies approximately 10 km north of its existing gold resources at the Oko-Ghanie Deposit and that multiple gold targets are being explored along a prominent trend extending north from Oko-Ghanie. Drill results have included both expansion holes extending mineralisation down plunge and infill holes confirming near-surface high-grade gold mineralisation.

At the Ghanie and Border zones within the Oko Project, G2 Goldfields has reported new assay results from diamond drill programs. These include near-surface mineralisation in the Border Zone and deeper mineralisation in the central part of the Ghanie resource area, with one drill hole representing the deepest intercept in the Ghanie deposit and on the Oko Project to date. The company states that these results confirm depth extension potential and that mineralisation remains open in multiple directions.

Permitting and prospecting licenses

G2 Goldfields has announced that the Ministry of Natural Resources and the Guyana Geology and Mines Commission approved the issuance of two Large Scale Prospecting Licenses that encompass the company’s high-grade Oko-Ghanie Gold Deposit. These licenses replace multiple medium-scale mining permits previously held through option agreements and provide the right of occupation and exclusive right to explore for gold and precious minerals over a combined area of approximately 17,451 acres. The company notes that the licenses have a three-year term with renewal rights and that comprehensive environmental baseline studies have been conducted to support project design, regulatory compliance and preparation of an Environmental Social Impact Assessment.

Corporate strategy and spin-out of non-core assets

G2 Goldfields has described a corporate strategy that includes focusing on its core Oko Project while considering the spin-out of certain non-core assets into a separate company, G3 Goldfields Inc., through a plan of arrangement under the Canada Business Corporations Act. The company has outlined that the non-core assets to be held by G3 would include interests in several properties in Guyana, such as Tiger Creek, Peters Mine, Aremu Mine, the Aremu Partnership (including the historic Wariri Mine), the Ghanie Medium Scale Mining Permit, and other properties in Region 7. The spin-out is intended to transfer these non-core assets and sufficient cash to G3, with G2 shareholders receiving G3 shares on a pro rata basis, subject to shareholder, court and regulatory approvals.

In later updates, G2 Goldfields reported that the discovery of the New Oko Discovery led to a management review of core and non-core assets and that the company terminated an earlier arrangement agreement while continuing to evaluate reorganization of its property portfolio. Subsequent news indicates that G2 pursued a revised spin-out structure, with shareholders approving matters related to the proposed spin-out of non-core assets into G3 Goldfields at an annual general and special meeting, subject to final court and regulatory approvals and finalization of timing.

Geological setting and district scale potential

The company situates its activities within the Guiana Shield, which it describes as prolific and underexplored. G2 Goldfields notes that the Oko district has a history as an alluvial goldfield dating back to the 1870s and that modern exploration techniques are revealing considerable potential. The Oko Project area includes multiple deposits and target zones along structural trends, including the Oko Main Zone, Ghanie, New Oko Discovery, Oko North, Oko Northwest and other regional targets such as High Hill and Aremu West. The company has highlighted soil sampling anomalies, mapped shear structures, trenching results and artisanal mining evidence as part of its exploration targeting.

Stock listing and jurisdiction

G2 Goldfields Inc. trades on the Toronto Stock Exchange under the symbol GTWO and on the OTCQX market under the symbol GUYGF. The company’s primary business activities, as described in its news releases, are the exploration and development of gold projects in Guyana, with a focus on advancing the Oko Gold Project through resource definition, economic assessment and permitting.

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