G2 Goldfields files technical report for PEA, MRE for Oko Gold Project

G2 Goldfields (GUYGF) announced an independent technical report entitled “NI 43-101 Technical Report for the Preliminary Economic Assessment on the Oko Gold Project in the Co-operative Republic of Guyana, South America”, with an effective date of December 8, has been filed under the Company’s profile on SEDAR+. The Technical Report supports the results of a preliminary economic analysis and an updated mineral resource estimate on the Company’s high-grade Oko Gold Project announced by the Company on December 18. PEA Highlights: High-grade updated resource: Underpinned by G2’s updated Mineral Resource Estimate, including 1.6 Moz Au at 3.24 g/t Au and 1.9 Moz Au at 3.31 g/t Au. Long life, significant production and industry-leading margins: 14-year LOM underground and open pit operation with average annual gold production of 282,000 ounces at AISC of $1,175/oz Au from years 2 through 11. Attractive capital profile: Initial capital expenditures of $664M sustaining capital expenditures of $499M over the LOM, and net mine closure costs of $29M. Robust economics and fast payback: After-tax NPV5% of $2.5B, IRR of 38% and payback of 2.7 years at $3,000/oz Au. Daniel Noone, CEO, stated, “This PEA clearly demonstrates that the Oko Project is exceptionally well positioned across a wide range of gold price environments. The study highlights strong Project economics characterized by robust margins, attractive returns and a rapid payback, underpinned by the natural high-grade of the deposit and a low average AISC of $1,175 per ounce. These compelling fundamentals, which represent only a snapshot of the potential value we believe exists at Oko, combined with supportive macroeconomic and structural tailwinds, position us to deliver significant long-term value as we continue to advance Oko towards permitting and unlock the broader district’s full potential.”