AngloGold Ashanti to make strategic investment in G2 Goldfields

AngloGold Ashanti intends, subject to execution of definitive documentation and satisfaction of customary conditions, to subscribe for 24,500,000 common shares in G2 Goldfields at C$0.90 per share for total consideration of C$22.05M. Following completion of the Subscription, AGA will own approximately 11.7% of G2’s issued and outstanding Shares. G2 is actively exploring in Guyana, a country which hosts the Guiana Shield, one of the world’s most prospective gold provinces. G2’s principal OKO project comprises the OKO Main Zone and Ghanie deposits. G2 announced, in April 2022, an Indicated Mineral Resource estimate for the OKO Main Zone containing 220,000 oz Au – 793,000 tons grading 8.63 g/t Au – and an Inferred Mineral Resource estimate of 974,000 oz Au – 3,274,000 tons, grading 9.25 g/t Au -. G2 intends to publish a Mineral Resource update in the first half of 2024. AGA believes that G2’s exploration properties have significant growth potential. As part of the Subscription, AGA will be granted pre-emptive and top-up rights for future security issuances by G2. The Subscription is expected to close in January 2024.