Guyana's Gold Future: G Mining Forges a Titan From G2 Acquisition

TORONTO, ON – June 16, 2026 – In a move that redraws the map of Guyana's gold sector, shareholders of G2 Goldfields Inc. have delivered a near-unanimous endorsement for a complex and transformative transaction. With an overwhelming 99.99% of votes cast in favor, the deal will see G Mining Ventures Corp. acquire G2, consolidating a premier gold district, while simultaneously spinning out a new, nimble exploration entity, G3 Goldfields Inc.

This is not a simple corporate buyout; it is a sophisticated piece of institutional architecture designed to unlock value on multiple fronts. For G2 shareholders, it represents a strategic pivot, exchanging their holdings for a stake in both a burgeoning gold production giant and a pure-play exploration venture poised to uncover the next big discovery. The arrangement, expected to close in July pending final court approval, signals a new era of strategic investment and consolidation in the resource-rich Guiana Shield.

The Making of a Mining Behemoth

The strategic rationale behind G Mining Ventures' acquisition is a masterclass in regional dominance. The transaction is fundamentally about consolidating the Oko district, uniting GMIN's fully permitted Oko West project with G2's adjacent Oko-Ghanie project. Analysts have long viewed these assets as two parts of the same whole, and their combination under a single operator is expected to create a Tier-1 mining complex with formidable scale.

By integrating the two projects, G Mining anticipates unlocking over C$1 billion in capital and operating synergies. These savings stem from shared infrastructure, a unified processing facility, and a streamlined permitting process that leverages Oko West's existing approvals to accelerate the development of Oko-Ghanie. The result is a combined entity with a staggering resource base of 7.0 million ounces in Measured & Indicated minerals, targeting annual production that could exceed 700,000 ounces of gold at industry-leading low costs.

This move firmly positions G Mining Ventures to become a leading intermediate producer, building on the execution prowess it demonstrated by bringing its Tocantinzinho mine in Brazil into commercial production. The company is not just acquiring ounces; it is acquiring a clear, accelerated path to becoming a 500,000-plus ounce-per-year producer. As one industry analyst noted, the deal “makes a lot of sense as it consolidates the Oko district into a single integrated mining complex,” calling G Mining the “natural acquirer.”

G3 Goldfields: A New Chapter in Exploration

While G Mining builds a giant, the spin-out of G3 Goldfields ensures that the spirit of exploration that defined G2 is not lost but rather sharpened. G3 will emerge as an independent entity, inheriting a portfolio of G2's highly prospective, non-core assets. This structure is a clever mechanism to prevent these valuable, earlier-stage projects from being overshadowed within a large production-focused company.

Among the assets transferred to G3 are the historic Peters Mine and Aremu Mine properties, which have a rich history of high-grade gold production and significant modern exploration potential. The Peters Mine, for instance, produced over 41,000 ounces of gold at an astonishing grade of over 41 g/t Au in the early 1900s. G3 is not being sent out on its own without resources. The new company will be well-capitalized with C$45 million in cash and will also hold a Contingent Value Right (CVR) that could deliver up to an additional US$200 million based on future resource growth at the properties acquired by GMIN. This innovative CVR provides a direct link for G3 and its shareholders to the continued success of the consolidated Oko project.

The venture is further bolstered by the deep experience of its leadership. J. Patrick Sheridan, the founder and chairman of G2, is a legendary figure in Guyanese gold exploration credited with developing the Aurora Gold project. His specific approval as a new control person for G3 was a required component of the transaction, signaling his pivotal role in guiding the new company's strategy. With plans to list on the Canadian Securities Exchange, G3 Goldfields is set to become a compelling new opportunity for investors seeking exposure to high-impact exploration in one of the world's most prospective gold belts.

A Blueprint for Shareholder Value

The overwhelming shareholder approval is a direct reflection of the compelling value proposition presented by the deal. G2 shareholders are receiving 0.212 of a GMIN share and 0.5 of a G3 share for each G2 share they hold. At the time of the announcement, this represented a premium of over 70% to G2's recent trading price, a figure that immediately resonated with the market and sent the company's stock soaring.

This two-pronged return offers a balanced portfolio: immediate exposure to a de-risked, large-scale producer in GMIN with a clear growth profile, complemented by the pure exploration upside of a well-funded and experienced team at G3. It is a structure that aims to capture the best of both worlds—production and discovery.

Market analysts have largely lauded the strategic fit, with many calling the deal transformative. While noting the price paid by GMIN was significant, one expert stated the deal “accelerates G Mining's transformation into a large-scale intermediate producer” and is ultimately accretive once the immense synergies are factored in. This transaction is more than a line item on a ledger; it is a forward-looking strategy that creates two distinct, purpose-built companies designed to thrive in their respective domains, ultimately reshaping Guyana's gold landscape for years to come.