G3 Goldfields Spins Out: A Pure-Play Bet on Guyana's Golden Future

TORONTO, ON – July 29, 2026 – The complex machinery of the global mining industry has produced a new, sharply focused engine for growth. G3 Goldfields Inc. today announced it has officially completed its spin-out from G2 Goldfields Inc., emerging as a pure-play exploration company dedicated to unlocking the vast, untapped gold potential of Guyana.

The transaction carves out a distinct identity for G3, equipping it with G2's former interests in the Puruni project, a C$45 million war chest, and a management team whose track record in the region is the stuff of mining legend. This move is more than a simple corporate restructuring; it's a calculated bet that singular focus, deep regional expertise, and substantial capitalization are the keys to the next major discovery in the prolific Guiana Shield.

“Today's completion of the spin-out establishes G3 as a pure-play Guyana gold exploration company with the capital, technical expertise and strategic focus to unlock significant value from our portfolio,” said Daniel Noone, Chief Executive Officer of G3. “G3 was created to do what our team does best—discover gold deposits in Guyana.”

A Strategic Uncoupling for Focused Value Creation

The creation of G3 Goldfields is a masterclass in modern resource sector strategy, designed to optimize value across multiple corporate entities. The spin-out was part of a broader arrangement that saw G Mining Ventures Corp. (GMIN) acquire G2 Goldfields, a move aimed at consolidating assets to create a large-scale, low-cost gold mining hub in Guyana. By spinning out G3, the stakeholders have engineered a win-win-win scenario.

For GMIN, the acquisition consolidates key assets, creating operational and capital synergies. For former G2 shareholders, the deal provided shares in the enlarged GMIN entity while also granting them a direct stake in a new, high-potential exploration story through their pro-rata distribution of G3 shares (0.5 of a G3 share for each G2 share held). This structure allows them to retain exposure to the very exploration upside that G2's so-called “non-core assets” represented—assets now forming the foundation of G3.

For G3 itself, the benefits are clear and immediate. It begins life unburdened by the operational demands of a producing miner, free to dedicate 100% of its resources to exploration. The C$45 million in initial funding, sourced from G2’s treasury and GMIN, provides a robust financial runway for its ambitious plans. Furthermore, the deal includes an innovative Contingent Value Right (CVR) that could inject up to an additional US$200 million into G3's coffers. This CVR is tied to the success of GMIN's newly acquired properties, paying out in increments as new mineral resources are defined over a ten-year term. It’s a clever mechanism that aligns interests and gives G3 continued financial exposure to the broader district's success.

Unearthing Potential in the Guiana Shield

The assets now under G3's control are not speculative greenfield plots; they are drill-ready targets in one of the world's most prospective and underexplored geological regions. The Guiana Shield, geologically analogous to the gold-rich belts of West Africa and Western Australia, is estimated to hold over 140 million ounces of gold. G3's portfolio, detailed in a May 2026 technical report, is centered on the Puruni project, which includes the historic Peters Mine, the Tiger Creek property, and Property B.

The Peters Mine is particularly compelling. As Guyana’s first gold mine, it produced over 41,000 ounces between 1905 and 1910 from exceptionally high-grade ore (reportedly over 1 ounce per tonne). Despite this rich history, the property has seen remarkably little modern exploration. Scout drilling by G2 in 2025 confirmed the potential, hitting not only shallow, bulk-tonnage mineralization (76 meters at 1.5 g/t gold) but also deeper, high-grade veins (3 meters at 12.5 g/t gold). This demonstrates the potential for both types of deposits, a flexibility that significantly enhances the project's economic prospects.

G3's mandate is to apply systematic, modern exploration techniques to properties like Peters Mine, which have been overlooked for decades. The company’s strategy is to methodically advance these known targets while hunting for new discoveries across its extensive land package in the Oko-Aremu and Puruni gold districts.

The People Behind the Prospect: A Legacy of Discovery

In mineral exploration, assets are only as good as the team tasked with developing them. This is where G3’s story becomes particularly compelling for investors. The company’s leadership, including CEO Daniel Noone and Executive Chairman Patrick Sheridan, are part of the core group directly responsible for discovering more than 11 million ounces of gold in Guyana.

Their crowning achievement was the discovery, financing, and development of the 6.5-million-ounce Aurora Gold Mine, a project that fundamentally reshaped the perception of Guyana's mining potential and was ultimately sold for C$323 million in 2020. This is not a team hoping to find gold; it is a team that has a proven, repeatable methodology for doing so in this specific geological environment. Their deep understanding of the local geology, logistics, and political landscape represents an intangible but invaluable asset.

Mr. Sheridan's confidence in the venture is underscored by his significant personal investment. As a result of the arrangement, he now controls nearly 16% of G3's outstanding shares. This level of insider ownership is a powerful signal to the market that leadership's interests are firmly aligned with those of fellow shareholders. As the company states, its leadership is “laser focused on making the next major gold discovery in Guyana.”

Structuring for the Market

With its strategic focus, assets, and leadership in place, G3 is now moving to establish its public market presence. The company has applied to list on the Canadian Securities Exchange (CSE) under the symbol “GTRE,” which will provide liquidity for existing shareholders and open the door for new investors to participate in the story. Former G2 shareholders are being guided through the process of claiming their G3 shares via the depositary, TSX Trust Company.

To further bolster its financial position, G3 also announced its intention to complete a C$1.6 million non-brokered private placement in August. This financing, priced at $0.40 per share, is designed to supplement the initial treasury and ensure the company is fully capitalized to execute its initial exploration programs without delay. The combination of the spin-out capital, the CVR, and this follow-on financing positions G3 as one of the best-funded junior explorers focused on the Guiana Shield.

By uncoupling these high-potential exploration assets from a larger corporate entity, G3 Goldfields has created a streamlined, purpose-built vehicle for discovery. For investors seeking direct exposure to the risks and rewards of gold exploration, guided by a team with an unparalleled track record of success in one of the world's final gold frontiers, G3 has just stepped onto the world stage.