Mots clés associés : Canada | Exploration | Mine | Report |

Guyana Goldfields Inc. (TSX:GUY) (the "Company") is pleased to provide an exploration update from the diamond drill program currently underway at the East Walcott deposit in Guyana. The drill program is focused on the delineation of higher grade mineralization within East Walcott to assist with underground planning including finalizing the location of the second underground portal. Highlights from assay results from the first five holes (totalling 1,715m) of a planned 12 hole program drilled at East Walcott are as follows(1):

9.09 g/t Au over 44.8 m from 205 m in hole EWD094
10.85 g/t Au over 21.4 m from 130 m in hole EWD094
6.8 g/t Au over 23.0 m from 102 m in hole EWD094
4.79 g/t Au over 20.0 m from 356 m in hole EWD099
4.21 g/t Au over 21.2 m from 291 m in hole EWD099
6.33 g/t Au over 12.7 m from 141 m in hole EWD097

(1) All drill results are presented in Table 1 at the end of this release; no grade cuts were applied to high grade intercepts.

Scott Caldwell, President & CEO, stated, "We are extremely pleased with these initial drill results from East Walcott. The excellent grades encountered from this drill program compare very favourably to the average underground reserve grade at East Walcott of 2.90 g/t Au while the consistent and continuous nature of the mineralized zones demonstrate the very robust underground potential of this zone.. We look forward to receiving the final assay results from East Walcott and evaluating further the preferred approach to accelerate the mining of this ore body."

The East Walcott zone is located immediately adjacent to the main Rory's Knoll ore body at the Aurora Gold Mine ("Aurora") and is currently being mined in the Rory's Knoll open pit. Underground development at Aurora, which is due to commence in the fourth quarter of 2018, is anticipated to access the East Walcott zone toward the end of 2019. Given the limited amount of drilling at depth at East Walcott, the current drill program, consisting of 12 diamond drill holes for a total of 4,500 metres, was focused on gaining a better understanding of the geological controls, dimensions and continuity of higher grade mineralization at East Walcott to assist with underground planning efforts..

Assay results from the first five holes have demonstrated that higher grade zones occur within shoots that are steeply plunging to the northwest and that coincide with fold hinges (see Figure 1 & Figure 2 for a long-section and plan map here). Geologically this is analogous to Rory's Knoll which, in conjunction with the excellent vertical continuity of higher grade zones demonstrated by this current drill program as well as historic drilling, bodes favourably for the potential to grow reserves and resources at depth at East Walcott. For reference, the current underground reserve at East Walcott is 78,000 ounces at an average grade of 2..90g/t while the current resource does not extend below the -450 mRL elevation (compared to the resource at Rory's Knoll which extends to the -2000 mRL elevation; see Figure 3 here).

A complete list of drill results from the five holes assayed at East Walcott is provided at the end of the release here. The Company is currently utilizing the services of two independent laboratories, Bureau Veritas and MS Analytical. Both laboratories have facilities in Georgetown, Guyana.. This news release and its contents have been prepared under the supervision of Mr. Daniel Noone (P.Geo), a qualified person within the meaning of National Instrument 43-101. Further details on reserves and resources for the Aurora Gold Mine can be found in the feasibility study report titled "Independent Technical Report Updated Feasibility Study, Aurora Gold Mine Project" with an effective date of December 31, 2016, and the subsequent reserve and resource update detailed in the press release issued on February 20, 2018, both of which are available on the Company's website www.guygold.com and at www.sedar.com.

Operational Update

Guyana Goldfields Inc. is also pleased to report that from July 1, 2018, to August 31, 2018, the Company produced 30,200 ounces of gold. Ore processed during this period averaged 6,900 tonnes per day at an average head grade of 2.30 g/t Au with gold recoveries averaging 94%.

For the full version of this press release, please click here.

Please don't hesitate to contact me if you have any questions.

Thank you,

Jacqueline Wagenaar

Vice President, Investor Relations & Corporate Communications

Guyana Goldfields Inc.| 1608-141 Adelaide St. West,
Toronto, Ontario, Canada M5H 3L5

D: 416-628-5936 Ext.5295 | E: jwagenaar@guygold.com

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Guyana goldfields Inc.

	EN DÉVELOPPEMENT
	CODE : GUY.TO
	ISIN : CA4035301080

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Guyana Goldfields est une société d’exploration minière d'or basée au Canada.

Guyana Goldfields détient divers projets d'exploration au Canada et en Guyana.

Son principal projet en développement est AURORA en Guyana et ses principaux projets en exploration sont LANGIS, KUGLUKTUK (FORMERLY COPPERMINE), ABITIBI BELT et COPPERMINE RIVER (CORONATION GULF) au Canada et PETER'S MINE, AREMU, ARANKA, POMEROON HEAD / FISH CREEK, OKO et SULPHUR ROSE en Guyana.

Guyana Goldfields est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 314,9 millions CA$ (239,5 millions US$, 202,4 millions €).

La valeur de son action a atteint son plus haut niveau récent le 18 mars 2011 à 9,99 CA$, et son plus bas niveau récent le 20 mars 2020 à 0,25 CA$.

Guyana Goldfields possède 171 150 000 actions en circulation.

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Guyana goldfields Inc.

Intercepts 9.09 g/t Au over 44.8 metres and 10.85 g/t Au over 21.4 metres from East Walcott Drill

Guyana goldfields Inc.