Guyana Goldfields Inc. announces the addition of two new independent board members

TORONTO, March 6, 2019 - Guyana Goldfields Inc. (TSX:GUY) (the "Company") announces the appointments of Mr. Peter Dey and Ms. Maryse Saint-Laurent as independent, non-executive directors, to its Board of Directors, effective immediately.

"On behalf of the Board, I welcome Peter and Maryse as we continue the process of refreshing the Board and senior management team that began July 30, 2018," said René Marion, non-executive Chairman of the Company. "These two appointments follow regular engagement with major shareholders on board renewal."

Continued Mr. Marion, "Our two new appointees have more than 70 years of combined governance, capital markets, human resources, regulatory and legal experience, including service as directors of large Canadian-based mineral producers operating overseas. They will add valuable expertise and further increase our board independence and diversity. They will also continue to enhance corporate governance practices and support the Company to create value in its next stage of growth."

Peter Dey's experience

Mr. Dey has been a leader in governance reform in Canada and internationally over his 50-year career. He has served as Chairman of the Ontario Securities Commission and was Canada's representative to the OECD Task Force that developed the OECD Principles of Corporate Governance released in 1999.

Mr. Dey has been the Chairman of Paradigm Capital, an independent Toronto-based investment dealer, since 2005. He recently retired as a director of Vancouver-based Goldcorp Inc., one of Canada's largest gold mining companies, after 11 years.

Mr. Dey was a member of the International Advisory Committee of the Chinese Securities Regulatory Commission (CSRC) from 2008 to 2015. The Committee provides advice to the CSRC and to other securities regulators in China on the development of capital markets.

From 1993 to 1995, Mr. Dey chaired The Toronto Stock Exchange Committee on Corporate Governance in Canada that released the report entitled "Where Were the Directors?", known as the Dey Report.

In his former law practice, Mr. Dey was a Partner of the Toronto law firm Osler, Hoskin & Harcourt LLP, where he specialized in corporate board issues and mergers and acquisitions, from 2001 to 2005, and prior to that from 1985 to 1994 and from 1973 to 1983. From 1994 to 2001, Mr. Dey was Chairman of Morgan Stanley Canada Limited, where he helped develop the Canadian investment banking business and the overall strategic direction of Morgan Stanley in Canada.

Mr. Dey currently serves as a director of Calgary-based Gran Tierra Energy Inc. He also recently retired from the board of Toronto-based Granite REIT.

Mr. Dey holds a Master of Laws degree from Harvard University, a Bachelor of Laws degree from Dalhousie University and a Bachelor of Science degree from Queen's University.

Maryse St-Laurent's experience

Ms. Saint-Laurent, ICD.D, is an accomplished executive, corporate director and senior legal advisor with over 20 years of experience as a transactional, corporate and securities lawyer in the energy and electricity sectors. She has led several public financing transactions and has a strong governance background.

Ms. Saint-Laurent is a director of Vancouver-based Turquoise Hill Resources Ltd., majority-owner of an open pit copper and gold mine in Mongolia. Turquoise Hill Resources is also developing an adjacent underground mine that, on completion, will be one of the world's largest copper mines.

Ms. Saint-Laurent also possesses over 10 years of experience in human resources management and compensation analysis. From 2013 until 2015, Ms. Saint-Laurent was Vice-President Legal and Corporate Secretary for TransAlta Renewables Inc. From 2005 until 2015, she was Corporate Secretary and later appointed Vice-President Legal and Corporate Secretary for TransAlta Corporation.

From 2001 until 2005, Ms. Saint-Laurent served as Corporate Secretary for TC PipeLines, LP. From 1997 until 2005, she was Senior Legal Counsel at TransCanada Corporation. From 1981 until 1992, Ms. Saint-Laurent served in a variety of labor relations and human resources positions.

In addition to her board position at Turquoise Hill Resources, Ms. Saint-Laurent serves as a director of the Alberta Securities Commission, the Calgary Prostate Cancer Centre and Western Sky Land Trust.

Ms. Saint-Laurent holds a Master of Laws degree from Osgoode Hall, York University, a Bachelor of Laws degree from the University of Alberta and a Bachelor of Arts degree from the University of Alberta.

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 Mr. Dey and Ms. Saint-Laurent adding invaluable expertise and further increasing the Company's board independence, continuing to enhance corporate governance practices, and supporting the Company in its next stage of growth.  Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "will" or variations of such word, or state that certain actions, events or results "will" be taken, occur or be achieved. Forward-looking statements are based on the opinions 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, Mr. Dey or Ms. Saint-Laurent's roles being different than expected. 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.