07:39 AM EDT, 08/28/2025 (MT Newswires) -- G2 Goldfields ( GUYGF ) said Thursday that it secured regulatory approval for two large-scale prospecting licenses covering the company's Oko-Ghanie gold deposit in Guyana.

The Ministry of Natural Resources and Guyana Geology and Mines Commission issued the licenses, which clear the pathway to advance exploration and development at the project, the company said.

"With this license in hand, we are well positioned to unlock the full potential of this highly prospective gold district and rapidly drive the advancement of this project," CEO Dan Noone said.

The licenses have a three-year term with two renewal rights for one year each, G2 said.

G2 plans to release an updated resource estimate and a preliminary economic assessment in the fourth quarter.