G Mining Ventures Corp. announced that it has entered into a power purchase agreement (PPA) with Companhia Energética de Minas Gerais (CEMIG) and CEMIG Geração e Transmissão S.A., securing low-cost, 100% renewably generated power for its 100% owned Tocantinzinho Gold Project ("TZ" or the "Project"). TZ is currently under construction in the State of Pará, Brazil and remains on budget and on track for commercial production in second half of 2024.

The PPA was entered into between Brazauro Recursos Minerais S.A., a subsidiary of the Corporation, and CEMIG, a large and reputable energy provider in Brazil with a generating capacity of 3.3GW (hydroelectric, wind, and solar). he PPA guarantees the supply and delivery of power from March 1, 2024 through December 31, 2026, supplying more than 100% of the expected power demand at TZ during commissioning, ramp-up and initial commercial production. The contract functions on a consumption basis, with no take-or-pay obligations, ensuring GMIN's costs are variable based on actual usage.

The all-in cost of electricity inclusive of energy, transmission costs, distribution costs, other expenses and taxes represent a ~25% cost reduction compared the $/kWh assumed in the 2022 Tocantinzinho Feasibility Study. Electricity costs represent ~25% of processing costs, and ~10% of total operating costs.