G Mining Ventures Provides Corporate Update

• Closes acquisition of the CentroGold Project in Brazil's prospective Gurupi Gold Belt from BHP
• CentroGold contains 1.7 million ounces of indicated and 0.6 million ounces of inferred JORC-compliant gold resource that is open for expansion in all directions and at depth
• District-scale land package comprises 47 tenements covering ~1,900 km2 and offers potential for multiple new discoveries
• Accretive transaction adds to GMIN's project pipeline with no upfront cost
• Appointment of Vincent Benoit, Managing Partner and Chief Investment Officer of La Mancha, to its Board of Directors

BROSSARD, QC, Dec. 20, 2024 /CNW/ - G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that the acquisition of tenements in the Gurupi Gold Belt from wholly owned subsidiaries of BHP Group Limited ("BHP") (ASX: BHP, NYSE: BHP, LSE: BHP, JSE: BHG) has closed. The acquisition gives GMIN an 100% interest in the tenements, including the CentroGold Project ("CentroGold" or the "Project"). In consideration for the acquisition, GMIN will grant BHP a 1.0% NSR royalty on the first 1 million ounces of gold produced at the tenements and a 1.5% NSR royalty on gold production thereafter (the "Transaction"). Details of the Project and Transaction were previously announced in GMIN's news release dated September 9, 2024.

CentroGold is located in the state of Maranhão, located in northern Brazil, and comprises 47 tenements encompassing ~1,900 square kilometers. The Project hosts multiple identified gold targets along a +80 km mineralized trend, including the Blanket, Contact and Chega Tudo open pit deposits, which currently host 2.3 million ounces of JORC-compliant gold resources and remain open for expansion. In July 2019, Oz Minerals Limited, which was later acquired by BHP in 2023, released a pre-feasibility study on the Blanket and Contact deposits. The pre-feasibility study envisioned a 10-year mine life with an average annual gold production of 100,000 to 120,000 ounces per year, with 190,000 to 210,000 ounces of gold per year in the first two years of production. 

GMIN plans to update the Project's JORC-compliant gold resource to meet National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") in Q1 2025.

Board Appointment

The Corporation is pleased to announce the appointment of Vincent Benoit, Managing Partner and Chief Investment Officer of La Mancha Capital Advisory LLP ("La Mancha"), to its Board of Directors, effective December 20, 2024. The GMIN Board of Directors is now comprised of 11 members.

Vincent Benoit has over 30 years of corporate finance, business development and M&A experience in the mining, telecom, and energy sectors. Vincent identified the opportunity to buy La Mancha and joined the company as Head of Strategy & Business Development in 2012. Between 2013 and 2015, he led La Mancha's portfolio restructuring and contributed to enhancing its mines' performance in Australia and Africa. Mr. Benoit identified and executed the combinations with Evolution Mining Limited (ASX:EVN) and Endeavour Mining plc (TSX:EDV) ("Endeavour"), positioning La Mancha as a leading private investor in the gold mining sector. From 2016 to 2019, Mr. Benoit was chief financial officer and executive vice president of Corporate Development at Endeavour, where he reshaped the strategy, improved the mine portfolio quality, and enhanced the balance sheet to fund organic growth. Endeavour's market capitalization was quadrupled by the time he left at the end of 2019. In early 2020, he re-joined La Mancha to oversee investments and fundraising.

Previously, Vincent was at Orange (2006-2012), where he served as EVP M&A. He led the development of the group's footprint in Africa and Europe and formed strategic partnerships with key European telecom players. Prior to this, Vincent held various finance positions, including those with Orano (ex-Areva), Bull Information Systems, and PwC.

Vincent holds an MSc from Kedge Business School and is a Chartered Accountant.

About G Mining Ventures Corp.

G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the Tocantinzinho Gold Mine in Brazil and Oko West Project in Guyana, both mining friendly and prospective jurisdictions.

Additional Information
For further information on GMIN, please visit the website at www.gmin.gold.

Cautionary Statement on Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) ; an gold resource at CentroGold remaining open for expansion in all directions and at depth; (ii) the acquired land package offering potential for multiple new discoveries; (iii) the Transaction being accretive for GMIN's project pipeline; (iv) the Project's 10-year mine life and production profile, as anticipated in its pre-feasibility study; (v) GMIN's plan to update the Project's JORC-compliant gold resource to meet NI 43-101 requirements; and (vi) more generally, Mr. Benoit's future contribution as a GMIN director as well as the section entitled "About G Mining Ventures Corp.". 

Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those relating to the price of gold and currency exchange rates, those outlined in the PEA and those underlying the items listed in the above section entitled "About G Mining Ventures Corp.".

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, (i) GMIN will achieve its stated objectives for the Project, or (ii) the Project will prove accretive to GMIN's project pipeline, or (iii) the 2.3 million ounces of JORC-compliant gold resources will meet the NI 43-101 requirements, or (iv) the Project's current resources will be expanded in all directions and at depth, (v) the Project will have a 10-year mine life or will be mined at all, or (vi) GMIN will use TZ and Oko West to grow  into the next intermediate producer, as future events could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that Brazil and/or Guyana will remain mining friendly and prospective jurisdictions.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant sections of the (i) Annual Information Form of G Mining TZ Corp. (then known as G Mining Ventures Corp.) dated March 27, 2024, for the financial year ended December 31, 2023, (ii) Annual Information Form of Reunion Gold dated April 25, 2024, for the financial year ended December 31, 2023, and (iii) the Corporation's (i) Annual Information Form dated March 27, 2024, for the financial year ended December 31, 2023, and (ii) Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

SOURCE G Mining Ventures Corp

Jessie Liu-Ernsting, Vice President, Investor Relations and Communications, 647.728.4176, [email protected]