Guyana Goldfields announces filing of NI 43-101 technical report for the Aurora Gold Project

Thursday, Jan 31, 2013

TORONTO, Jan. 30, 2013 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) (the "Company") is pleased to announce that it has filed a technical report ("Report") prepared in accordance with Canadian Securities Administrators' National Instrument 43-101. The Report may be found on the Company website or under the Company's profile at www.sedar.com.

The independent Report, dated January 29, 2013, entitled "NI 43-101 Technical Report, Updated Feasibility Study, Aurora Gold Project, Guyana, South America" was issued by Tetra Tech Inc., with contributions from SRK Consulting (Canada) Inc., and other key industry consultants. The Report provides detail to the disclosure contained in the Company's news release issued on January 11, 2013, announcing the key finding results of the Updated Feasibility Study for its 100% owned and fully permitted Aurora Gold Project. As previously announced, the Report indicates that the open pit and underground mining operations at Aurora are anticipated to be economically robust with substantial upside potential.

About Guyana Goldfields Inc.

Guyana Goldfields Inc. is a Canadian based company, focused on the exploration and development of gold deposits in Guyana, South America where the Company has operated since 1996.  The Company is focused on bringing the Aurora Gold Project into production with infrastructure development currently underway. Active exploration continues at Aurora and at the Company's Aranka Group of Properties with the intention of further expanding these resources. Greenfields exploration by our experienced team of geologists is also ongoing in the broader Aranka group of properties.

As at the date hereof, the Company has approximately $32 million in cash and cash equivalent and no debt; there are approximately 95 million shares issued and outstanding.

SOURCE Guyana Goldfields Inc.