Guyana Goldfields Inc.
TSX : GUY

Guyana Goldfields Inc.

January 22, 2008 13:54 ET

Guyana Goldfields: Aurora Exploration Update-190m @ 5.09 g/t Au

TORONTO, ONTARIO--(Marketwire - Jan. 22, 2008) - Guyana Goldfields Inc. (TSX:GUY) is pleased to announce the latest assay results of the diamond drilling program of two mineralized zones in the Golden Square Mile of its 100%-owned Aurora project. The project is located in the Cuyuni Mining District in the northwest of the Republic of Guyana, South America.

Rory's Knoll

Drilling at Rory's Knoll was designed to delineate the mineralized zone at close spaced piercing point intervals of no more than 50 m. This was done to increase the confidence level in the resource estimate done by Micon International Ltd. (4.65 million ounces Indicated and Inferred-please see News Release dated October 10, 2007).

The drill program targeted near surface (0 to -250mRL) horizons and mid-level depth horizons (down to -350mRL). One hole was designed to probe continuity of a relatively deep zone (-500mRL to -600mRL) to close a gap in the piercing point distribution at that horizon.



---------------------------------------------------------------------------
Location Drill Intercept (meters) Grade
Hole # -------------------------------------------------------------------
North East Azimuth Dip From To Width (g/t Au)
---------------------------------------------------------------------------
RKD-88 10100 10900 300 -75 19.7 31 11.30 15.09
13.55 (cut
to 25 g/t Au)
---------------------------------------------------------------------------
including 27 30 3.00 31.35
---------------------------------------------------------------------------
25 (cut to 25 g/t Au)
----------------------------------
316.5 318 1.50 11.30
----------------------------------
331.5 333 1.50 15.23
----------------------------------
356.5 374 17.50 3.63
----------------------------------
including 357.5 360 2.50 15.73
----------------------------------
480 509 29.00 6.35
----------------------------------
including 480 485 5.00 7.69
---------------------------------------------------------------------------
including 499 507 8.00 13.41
----------------------------------
576 650 74.00 2.01
----------------------------------
including 604 606 2.00 8.77
---------------------------------------------------------------------------
RKD-89 9950 10905 275 -60 156 297 141.00 2.38
---------------------------------------------------------------------------
including 163 165 2.00 9.37
----------------------------------
193 197 4.00 9.30
----------------------------------
217 219 2.00 8.83
----------------------------------
247 249 2.00 8.97
----------------------------------
285 287 2.00 8.37
---------------------------------------------------------------------------
RKD-90A Abandoned - excessive hole deviation
RKD-90B
---------------------------------------------------------------------------
RKD-91 9950 10875 275 -60 77 263 186.00 2.56
---------------------------------------------------------------------------
including 159 169 10.00 9.67
----------------------------------
including 215 221 6.00 7.74
----------------------------------
including 257 259 2.00 9.40
---------------------------------------------------------------------------
RKD-92 10025.2 10874 260 -65 114 120 6.00 2.93
---------------------------------------------------------------------------
including 132 301 169.00 2.67
----------------------------------
including 138 152 14.00 11.56
----------------------------------
including 265 273 8.00 8.89
---------------------------------------------------------------------------
RKD-93 10050 10950 291 -73 327 472 145.00 3.43
---------------------------------------------------------------------------
3.23 (cut to 25 g/t Au)
----------------------------------
334 338 4.00 15.58
----------------------------------
including 341 352 11.00 9.75
----------------------------------
9.31 (cut to 25 g/t Au)
----------------------------------
including 434 449 15.00 8.91
----------------------------------
7.35 (cut to 25 g/t Au)
----------------------------------
490 502 12.00 1.16
---------------------------------------------------------------------------
RKD-94 10025 10850 271 -71 141 289 148.00 2.88
---------------------------------------------------------------------------
including 178 182 4.00 12.27
----------------------------------
including 212 216 4.00 7.09
----------------------------------
including 250.5 255 4.50 8.56
----------------------------------
including 261 279 18.00 7.08
---------------------------------------------------------------------------
RKD-95 9950 10840 273 -63 53 217 164.00 2.36
---------------------------------------------------------------------------
including 91 101 10.00 8.34
----------------------------------
including 137 141 4.00 8.03
----------------------------------
including 187 189 2.00 9.37
----------------------------------
223 231 8.00 2.01
---------------------------------------------------------------------------
RKD-96B 10000 10898.5 265 -63 142.5 345 202.50 2.68
---------------------------------------------------------------------------
2.65 (cut to 25 g/t Au)
----------------------------------
including 144 150 6.00 10.75
----------------------------------
including 151.5 154.5 3.00 19.65
----------------------------------
18.35 (cut to 25 g/t Au)
----------------------------------
including 299 307 8.00 9.49
----------------------------------
including 313 319 6.00 9.28
---------------------------------------------------------------------------
RKD-97 9950 10825 270 -61 16.5 196 179.50 2.79
---------------------------------------------------------------------------
including 72 82 10.00 11.34
---------------------------------------------------------------------------
RKD-98 9950 10800 270 -62 3 178 175.00 2.81
---------------------------------------------------------------------------
2.50 (cut to 25 g/t Au)
---------------------------------------------------------------------------
including 51.55 55.4 3.85 7.55
----------------------------------
including 95 96.1 1.10 11.33
----------------------------------
including 118 122 4.00 13.85
----------------------------------
9.19 (cut to 25 g/t Au)
----------------------------------
including 130 132 2.00 9.57
----------------------------------
including 138 140 2.00 10.73
----------------------------------
including 146 148 2.00 9.47
---------------------------------------------------------------------------
RKD-99 10025 10850 260 -65 109 299 190.00 5.09
---------------------------------------------------------------------------
2.37 (cut to 25 g/t Au)
----------------------------------
including 123 134 11.00 7.05
----------------------------------
including 203.5 208 4.50 109.44
----------------------------------
11.11 (cut to 25 g/t Au)
----------------------------------
including 285.5 286.5 1.00 98.15
----------------------------------
25 (cut to g/t Au)
----------------------------------
312 315 3.00 1.90
----------------------------------
336 339 3.00 1.63
---------------------------------------------------------------------------
RKD-100 9925 10800 270 -60 0 157 157.00 3.05
---------------------------------------------------------------------------
2.71 (cut to 25 g/t Au)
----------------------------------
including 24 26 2.00 13.67
----------------------------------
including 49.75 54.9 5.15 9.17
----------------------------------
including 96 103 7.00 8.52
----------------------------------
including 112.55 119 6.45 14.67
----------------------------------
7.62 (cut to 25 g/t Au)
----------------------------------
including 151 154 3.00 20.82
----------------------------------
17.87 (cut to 25 g/t Au)
----------------------------------
180 184 4.00 3.60
---------------------------------------------------------------------------


RKD-89/91/95/97/98 and 100 intercepted significant mineralized intercepts from surface to vertical depth of -250 mRL. These holes effectively probed near surface resources that are potentially amenable for open pit mining.

RKD-92/93/94/96B/99 targeted mainly the central sector of the mineralized zone down to a vertical depth of -350 mRL.

RKD-88 probed the comparatively deeper part of the zone down to -500 mRL until -600 mRL. This hole closed the gap between widely spaced piercing points at that horizon.



Walcott Hill

---------------------------------------------------------------------------
Location Drill Intercept (meters) Grade
Hole # -------------------------------------------------------------------
North East Azimuth Dip From To Width (g/t Au)
---------------------------------------------------------------------------
WHD-22 10119 10224 90 -51 65.5 67 1.50 43.16
25 (cut
to 25 g/t Au)
---------------------------------------------------------------------------
97 105 8.00 2.29
----------------------------------
254.68 256.51 1.83 1.73
---------------------------------------------------------------------------


WHD-22 is follow-up exploration drilling of the Walcott Hill mineralized zone. The hole intersected near surface mineralization consisting of crosscutting pyritized quartz vein/stockworks/breccias associated with quartz-sericite-pyrite alteration halo.

Walcott Hill area is between the Rory's Knoll, East Walcott and Aleck Hill zones. It is immediately west and adjacent to the East Walcott zone which in turn was proven to merge with the Rory's Knoll zone. Mineralization is in the form of auriferous veins developed within a distinctly highly altered porphyritic tonalite unit. (pls. see Press release dated December 12, 2007)

Patrick Sheridan, President & CEO of the Company states that "I am very encouraged by these drill results. The delineation drilling of the near surface resource at Rory's Knoll is definitely indicating presence of a near surface gold resource with cohesive geometry that is amenable to open cast mining method. The continuing success in exploratory drilling such as Walcott Hill certainly shows that the Golden Square Mile potential is still not yet fully defined - we certainly have more room to discover additional resources."

About Guyana Goldfields

The Aurora exploration and drilling program is being carried out under the direction of Mr. Rex Camit, a qualified person within the meaning of National Instrument 43-101. Mr. Camit has reviewed the exploration results contained in this news release. Core is split, with half sent to laboratories for fire assaying. The Company is utilizing the services of Loring Laboratories; a Canadian owned and operated facility. The Company maintains an archive of half core samples and a photographic record of all cores for future reference. Sample blanks, duplicates and recognized standards were inserted into the sample stream at regular intervals.

Guyana Goldfields Inc is a Canadian based mineral 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 parts 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 (CDN) $21 million in cash and no debt.

Additional Information

Information is available on Guyana Goldfields' website at www.guygold.com and on www.sedar.com and through its offices at:

Suite 301-141 Adelaide Street West, Toronto, ON, M5H 3L5

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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