GXG

Iron Mineral Beneficiation Services Ltd. ("IMBS")

The joint venture agreement between G4G and IMBS was originally announced on July 7, 2008. G4G has determined that IMBS' Finesmelt™ technology is not developed to a sufficient level to warrant pursuing a joint venture with IMBS.

Crusader do Brasil Mineracao Ltda. ("Crusader")

The agreement between G4G and Crusader was originally announced on July 14, 2008. As the agreement with Crusader was for G4G to identify additional iron ore resources in Brazil to complement G4G's agreement with IMBS, G4G has discontinued the project due to inactivity with respect to the IMBS project.

Magnetite Holdings SA (Pty) Ltd. ("Magnetite Holdings")

The signing of the heads of agreement between G4G and Magnetite Holdings was originally announced on August 25, 2008. The agreement required commitment from an end user in order for G4G's acquisition of Magnetite Holdings to be feasible, which did not materialize. Accordingly, G4G has withdrawn from the project.

University of Witswatersrand ("WITS")

The signing of the memorandum between G4G and the University of Witswatersrand was originally announced on November 7, 2008. Due to WITS' inability to provide timely technical support, G4G has accordingly withdrawn from the MOU.

About G4G Resources Ltd.

G4G Resources Ltd. is a Canadian-based mineral exploration and development company focusing primarily on its iron sands projects in Guatemala.

Forward-Looking Statement

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 audited Financial Statements filed with SEDAR on April 30, 2010.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: G4G Resources Ltd. Basil Botha President & CEO 604-602-9868 604-602-9867 (FAX) ir@g4g4resources.com www.g4gresources.com

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