Guyana Precious Metals Announces $350,000 Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE US

TORONTO, Aug. 28, 2012 /CNW/ - Guyana Precious Metals Inc. (TSX-V: GPM) ("Guyana") is pleased to announce a non-brokered private placement (the "Placement") of up to 4,666,667 common shares ("Shares") at a price of $0.075 per Share for gross proceeds of up to approximately $350,000.

Insiders of Guyana, and their affiliates, are expected to subscribe for up to 666,667 of the Shares being distributed under the Placement.

Guyana intends to use the net proceeds of the Placement for the acquisition, exploration and development of properties in the Guiana Shield, South America and for general working purposes. The Placement remains subject to the approval of the TSX Venture Exchange.


About GPM

GPM is led by an experienced management team with demonstrable project generation and development talents in Guyana. The Company is presently expanding the exploration and development of its Aremu and Peters Mine Properties; 2 of the 4 historical past gold producers in Guyana. GPM maintains an interest in acquiring additional key exploration and development properties in the country of Guyana.


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.



For further information:

Guyana Precious Metals Inc.
Suite 1205 141 Adelaide Street West
Toronto, Ontario M5H 3L5
Attn: John Patrick Sheridan
Tel: (416) 628 5936
Fax: (416) 628 5935

Website: www.gpmgold.com
E-mail: psheridan@gpmgold.com
info@gpmgold.com