Mots clés associés : Canada | Mine |

Guyana Goldfields Inc. (TSX:GUY) (the "Company") is pleased to announce that it has signed an open pit contract mining agreement with STRACON GyM International S.A.C. ("STRACON") in order to meet higher waste stripping requirements through to the end of 2021 as forecasted in its optimised life of mine plan ("Optimised Life of Mine Plan") which was press released on February 20, 2018.

STRACON is a leading world class contractor focused on open pit and underground mining in the Caribbean and Latin America. STRACON has extensive experience providing efficient and innovative mining and earthworks services to international mining companies with the highest standards in safety, environment and community relations. STRACON, along with Guyana Goldfields, is committed to the employment of local personnel and the utilisation of local suppliers of goods and services.

STRACON participated in a tender process along with other mining contractors for mining of overburden at the Aurora Gold Mine. The mining requirement is to cover a 3-and-a-half-year peak in waste mining requirements, which is in excess of the Company´s own mining fleet capacity, and will allow the Company to focus on mining of gold-containing ore for processing. STRACON is expected to commence work on July 1, 2018.

In addition, following the positive results from accelerating selective underground mining from the Optimized Life of Mine study, the Company has initiated and continues to advance the bidding process for the contract mining of the initial underground development. A site visit for potential underground contract miners has been completed and the Company has initiated the movement of the previously-purchased underground mining equipment to Guyana. The Company is targeting the commencement of underground development in the fourth quarter of 2018.

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.

Signs Open Pit Contract Mining Agreement and Targets Commencement of Underground Development for the

Guyana goldfields Inc.