Guyana Goldfields Inc. Announces New General Manager At Its Aurora Gold Mine

TORONTO, July 16, 2018 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) (or "The Company") is pleased to announce the appointment of Mr. Brennan Lang as the new General Manager of the Aurora Gold Mine in Guyana, South America effective at the end of July.

Mr. Lang replaces Mr. Tom Henderson, the outgoing General Manager, and the Company expresses their sincere gratitude for his service and dedication to the Aurora Mine during his tenure at the project.

Mr. Lang is a professional mining engineer with over 30 years diversified engineering, operations, and management experience at open pit and underground gold mines in Canada, United States, South America, and the Asia Pacific. He is a proven, hands-on leader with excellent intercultural competence and stakeholder management skills to advance mining projects in developing countries. Mr. Lang has held various General Manager and Mining Manager roles over his career and most notably that of Chatree Gold Mine in Thailand, Didipio Operations in Phillipines where he led the greenfields development and operation of a 3.5 million tons per annum gold and copper mine, and Khamkeut Saen Oudom Mine in Asia where he oversaw a large pre-strip campaign and developed the plan to commence underground operations. In addition, Mr. Lang was the Mining Manager for Hidden Valley Mine in Papua New Guinea, where he helped build a 250,000 ounce per year gold mine, and Tolukuma Mine in Papua New Guinea where he was responsible for coaching and mentoring of underground and surface operations foremen (expat and national), increasing production levels from the underground operation, and reducing unit costs, and improving grade delivered to the processing plant. Mr. Lang holds a M.A.Sc.and B.A.Sc. from the Department of Mining Engineering from the University of British Columbia.

Mr. Lang will be responsible for overseeing all operational activities, achieving production and cost objectives, managing employees and contractors, and maintaining the highest level of safety and environmental compliance.

Scott A. Caldwell, President & CEO, states, "On behalf of the Company, I am pleased to welcome Brennan to the team. His global experience as a professional mining engineer and track record in the mining industry will add strong technical expertise, particularly as we transition into the underground and commence development in the fourth quarter of 2018."

About Guyana Goldfields Inc.:

Guyana Goldfields Inc. is a Canadian based mid-tier gold producer primarily focused on the exploration, development and operation of gold deposits in Guyana, South America.

Forwarding-Looking Information

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the estimation of mineral resources. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the receipt of applicable regulatory approvals, the timing of the advance of the funds pursuant to the project loan facility to fund the development and construction of the Aurora Gold Project (the "Facility"), fulfilling all conditions precedent to the advance of funds pursuant to the Facility, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in GGI's annual information form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

SOURCE Guyana Goldfields Inc.