G3 Goldfields Announces Closing of Private Placement Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Aug. 06, 2026 (GLOBE NEWSWIRE) -- G3 Goldfields Inc. (“G3” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”). In connection with the Offering, the Company issued 4,000,000 common shares of the Company (“Shares”) at a price of C$0.40 per Share for aggregate gross proceeds of C$1,600,000.

The proceeds from the Offering will be used for working capital and general corporate purposes. The securities issued pursuant to the Offering will be subject to a four-month and a day hold period.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About G3 Goldfields Inc.

G3 Goldfields is a mineral exploration company focused on finding and developing gold projects in Guyana, South America. Formed through a spin-out of G2 Goldfields Inc. (“G2”) in July 2026, G3 holds multiple drill-ready targets in the prolific Oko-Aremu gold belt and the active Puruni gold district, representing one of the most compelling early-stage exploration opportunities with exceptional discovery potential in the Guiana Shield. The founders and principals of the Company have been directly responsible for the discovery of more than 11 million ounces of gold in Guyana and are laser focused on making the next major gold discovery in Guyana.

Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.g3goldfields.com).

On behalf of the Board of G3 Goldfields Inc.

“Daniel Noone”
CEO & Director

For Further Information

Jacqueline Wagenaar, VP Investor Relations
Direct: +1.416.628.5904 x.1150
Email: j.wagenaar@g3goldfields.com

Forward-Looking Statements

Certain information contained in this news release constitutes “forward-looking information” under Canadian securities legislation. This includes, but is not limited to, the expected use of proceeds of the Offering. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “schedule”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, commodity prices, general business, economic, competitive, political and social uncertainties, changes in project parameters as plans continue to be refined, accident, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing, as well as the risk factors set out in “Risk Factors – Risks Relating to G3 and the Spin-Out” in the management information circular of G2 dated May 12, 2026. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.