Guyana Goldfields Inc.

Guyana Goldfields Inc.
Coronation Minerals Inc.

March 06, 2008 12:50 ET

Guyana Appointees Elected to Coronation Board of Directors

TORONTO, ONTARIO--(Marketwire - March 6, 2008) - Guyana Goldfields Inc. (TSX:GUY) ("Guyana") announced today that, at a Special Meeting of the Shareholders of Coronation Minerals Inc. (TSX VENTURE:CMV) ("Coronation"), the current Board of Directors of Coronation was replaced by directors nominated by Guyana. The Special Meeting was called and held pursuant to a Requisition delivered by Guyana in December of 2007. At the meeting, Messrs. J. Patrick Sheridan, Alexander Po, Alan L.H. Ferry and Daniel J. Noone were elected to the Board of Directors of Coronation. Immediately following the Shareholders' meeting, the Board of Directors appointed Mr. J. Patrick Sheridan as interim President and Chief Executive Officer of Coronation. Edward J. Badida has agreed to remain as Chief Financial Officer. Mr. Sheridan stated: "We are gratified by the support that the shareholders of Coronation have shown in us and look forward to fully developing its potential. We will be communicating with shareholders further over the next few weeks as our plan for rejuvenating Coronation is implemented."

About Guyana Goldfields Inc.

Guyana Goldfields Inc. is a Canadian-based exploration company primarily focused on the exploration and development of gold deposits in the Guiana Shield of South America. The Guiana Shield is in the northern part of the Amazon Craton and covers part of Guyana, Venezuela, Suriname, French Guyana and northern Brazil.

The Company holds advanced exploration projects in various stages of development and has been operating in Guyana continuously since 1996. The Company currently has approximately $20 million in cash and no debt.

Contact Information

  • Guyana Goldfields Inc.
    Patrick Sheridan Jr.
    President and Chief Executive Officer
    (416) 628-5936
    (416) 628-5935 (FAX)