Guyana Goldfields Inc.
TSX : GUY

Guyana Goldfields Inc.

June 25, 2008 12:13 ET

Guyana Goldfields: Exploration Update

TORONTO, ONTARIO--(Marketwire - June 25, 2008) - Guyana Goldfields Inc (TSX:GUY), is pleased to provide an update of it's ongoing exploration campaign at the Aurora Property, Guyana. Diamond drilling results from fifty-four holes from four different zones are included in this release and a complete list of results is attached hereto. The results demonstrate the continued expansion of the known gold resources as well as the development of two areas for which initial results indicate further potential for new, additional gold mineralization.

Rory's Knoll

Near surface holes RKD-109 and 110 provide necessary in-fill data for scoping and feasibility studies. Deeper holes, RKD 108, 113, and 114 have continued to demonstrate very good grades and continuity of the deeper portions of the Rory's Knoll deposits.



---------------------------------------------------------------------------
Grid
Azi- Drill Intercept
Grid Coordinates muth Dip (meters)
---------------- (Deg- (Deg- ------------------- Grade
Hole # Northing Easting rees) rees) From To Width (g/t Au)
---------------------------------------------------------------------------
RKD- 10049.000 10900.000 290 -79 460 468 8.00 0.93
108
---------------------------------------------------------------------------
516.3 774 257.70 2.79
------------------- 2.08
(cut to
25 g/t Au)
------------------------------
including 681 692.3 11.30 10.34
-------------------- 7.62
(cut to
25 g/t Au)
------------------------------
including 730 772 42.00 9.51
-------------------- 5.91
(cut to
25 g/t Au)
------------------------------
including 738 750 12.00 8.45
------------------------------
including 754 766 12.00 21.89
-------------------- 9.28
(cut to
25 g/t Au)
---------------------------------------------------------------------------

---------------------------------------------------------------------------
RKD- 10097.500 10895.000 295 -80 34 38 4.00 8.74
113
---------------------------------------------------------------------------
379.5 399 19.50 2.14
------------------------------
inclu-
ding 381.55 386 4.45 6.60
------------------------------
408 414 6.00 4.27
------------------------------
including 408 412.5 4.50 5.51
------------------------------
524 840 316.00 3.57
-------------------- 3.13
(cut to
25 g/t Au)
------------------------------
including 540 598 58.00 6.65
-------------------- 5.88
(cut to
25 g/t Au)
------------------------------
including 606 618 12.00 4.28
------------------------------
including 634 662 28.00 10.16
-------------------- 7.01
(cut to
25 g/t Au)
------------------------------
including 708 720 12.00 6.32
------------------------------
including 744 766 22.00 6.02
-------------------- 5.79
(cut to
25 g/t Au)
---------------------------------------------------------------------------

---------------------------------------------------------------------------
RKD- 10051.000 10900.000 310 -82 107 111 4.00 6.78
114
---------------------------------------------------------------------------
597 624 27.00 3.58
---------------------------------------------------------------------------
including 612 624 12.00 6.21
---------------------------------------------------------------------------
639 651 12.00 2.30
---------------------------------------------------------------------------
675 681 6.00 5.12
---------------------------------------------------------------------------
741 948 207.00 2.09
---------------------------------------------------------------------------
1.99
(cut to
25 g/t Au)
---------------------------------------------------------------------------
including 756 800 44.00 4.31
----------------------------------------------------------------- 4.23
(cut to
25 g/t Au)
---------------------------------------------------------------------------
including 808 832 24.00 5.68
----------------------------------------------------------------- 4.93
(cut to
25 g/t Au)
---------------------------------------------------------------------------


East Walcott

This zone lies proximal to the west of the Rory's Knoll area and is associated with the latter as parallel conjugate sets of veins, breccias, and stockworks that vary from wide to narrow steeply plunging vein stockworks. In-fill holes EWD 20, 21, 24, and 25 further define the existing resource in this area while step-out holes EWD-23 and 26 shows that the near surface mineralization is open to the south and will likely expand beyond the initial resource calculation.



---------------------------------------------------------------------------
Grid
Azi- Drill Intercept (meters)
Grid Coordinates muth Dip -------------------------- Grade
------------------- Deg- (Deg- True (g/t
Hole # Northing Easting rees rees) From To Width Width Au)
---------------------------------------------------------------------------
EWD-
23 272 -80 92 96.6 4.60 4.60 2.57
---------------------------------------------------------------------------
114 122 8.00 8.00 5.36
---------------------------------------------------------------------------
146 204.4 58.40 58.40 1.26
---------------------------------------------------------------------------

---------------------------------------------------------------------------
EWD-
26 10000.000 10720.000 273 -67 68 126.5 58.50 58.50 2.03
---------------------------------------------------------------------------
143 149 6.00 6.00 1.01
---------------------------------------------------------------------------


Central Zone

This large area is approximately 500m by 1km and lies between the Rory's Knoll and the Aleck Hill resources. Initial pit optimization studies for these two zones indicates that significant portions of the Central Zone lie within the parameters of the proposed open pit shells for the resources. To date, gold mineralization has been intersected in drill holes over a one kilometer strike length. Gold mineralization is associated with quartz-carbonate veins and stockworks, many of which exhibit an en-echelon pattern at depth, and which follow a regional NW-SE trend.

Highlights of recent drilling results include holes NAHD-28, NAHD-34, and SMKD-11, which returned true widths and grades of 20.84m of 1.97 g/t Au, 27m of 2.3 g/t Au, and 35.75m of 1.27 g/t Au respectively.

Swamp Vein Exploration Drilling

The Swamp Vein area is located approximately 1.5 km's south of Rory's Knoll and gold mineralization appears to lie within the same north-west trending regional shear zone as the Rory's Knoll. Prospecting initially led to the discovery of gold in the area which was followed by an I.P. geophysical survey in late 2007. Trenching exposed a zone of quartz stockworks with a true width of 14.67m grading 1.72 g/t Au.

Diamond drilling has returned some attractive intersections including SVD-19 intersecting 2.39 g/t Au over12 meters and SVD- 9 intersecting 1.28 g/t Au over 18.98 meters. This area requires further work to define true width and delineate additional gold mineralization.

The Company is currently conducting an economic scoping study of the Aurora Project. Open pit and underground optimization studies are well advanced and the Company will release the highlights of the study when available.

The Company also announces that drilling with its 50/50 joint venture partner Aranka Gold (TSX VENTURE:ARK), has commenced on the southern portion of the 275,000 acre property jointly controlled by the two Companies. Initial holes will target significant gold soil anomalies discovered last year as well as historical gold workings in the area. The initial twelve hole program will take approximately ten weeks to complete.

The Aurora exploration, drilling, and trenching program is being carried out under the direction of Mr. Neil Silvio, a qualified person within the meaning of National Instrument 43-101. Sample blanks, duplicates and recognized standards were inserted into the sample stream at regular intervals. The Company is utilizing the services of Loring Laboratories; a Canadian owned and operated facility located in Georgetown, Guyana. Mr. Silvio has reviewed the exploration results contained in this news release.

About Guyana Goldfields:

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) $17 million in cash and no debt.

Addition Information:

Information is available on the Company's website at www.guygold.com and on www.sedar.com.

Drill Results are Tabulated as follows:



---------------------------------------------------------------------------
Grid
Zone Hole # Azim Drill Intercept
Grid Coordinates -uth Dip (meters) Grade
---------------- (deg- (deg- ------------------- (g/t
Northing Easting rees) rees) From To Width Au)
---------------------------------------------------------------------------
EWD-20 10066.000 10656.000 273 -48 73.5 80.5 7.00 2.85
----------------------------------------------------------------------
inclu 73.5 76 2.50 4.81
-ding ----------------------------
110.5 163 52.50 1.09
----------------------------------------------------------------------

----------------------------------------------------------------------
EWD-21 10066.000 10656.000 273 -73 161 166.55 5.55 2.10
----------------------------------------------------------------------

----------------------------------------------------------------------
EWD-22 10075.000 10720.000 275 -75 52.5 72 19.50 10.33
----------------------------------------------------------------------
6.72
(cut to
25
g/t Au)
----------------------------
inclu 55.5 64 8.50 22.64
-ding ------------------- 14.37
(cut to
25
g/t Au)
----------------------------
198 213 15.00 1.17
----------------------------------------------------------------------

----------------------------------------------------------------------
EWD-23 10000.000 10720.000 272 -80 92 96.6 4.60 2.57
East ----------------------------------------------------------------------
Wal- 114 122 8.00 5.36
cott ----------------------------
146 204.4 58.40 1.26
----------------------------------------------------------------------

----------------------------------------------------------------------
EWD-24 10075.000 10720.000 275 -65 56 60 4.00 9.45
----------------------------------------------------------------------
154.5 189 34.50 2.20
inclu ----------------------------
-ding 168 174 6.00 5.14
----------------------------------------------------------------------

----------------------------------------------------------------------
EWD-25 10075.000 10720.000 282 -82 63 66 3.00 6.83
----------------------------------------------------------------------
172.5 181.5 9.00 6.36
----------------------------
inclu 172.5 177 4.50 11.16
-ding ----------------------------
232 238.2 6.20 14.77
------------------- 13.17
(cut to
25
g/t Au)
----------------------------
276 325.5 49.50 2.63
----------------------------
inclu 288 303 15.00 5.05
-ding ----------------------------
340.5 366 25.50 0.88
----------------------------------------------------------------------

----------------------------------------------------------------------
EWD-26 10000.000 10720.000 273 -67 68 126.5 58.50 2.03
----------------------------------------------------------------------
143 149 6.00 1.01
---------------------------------------------------------------------------

---------------------------------------------------------------------------
Rory's
Knoll
RKD-108 10049.000 10900.000 290 -79 460 468 8.00 0.93
----------------------------------------------------------------------
516.3 774 257.70 2.79
------------------- 2.08
(cut to
25 g/t
Au)
----------------------------
inclu 681 692.3 11.30 10.34
-ding ------------------- (cut to
25 g/t
Au)
----------------------------
inclu 730 772 42.00 9.51
-ding ------------------- 5.91
(cut to
25 g/t
Au)
----------------------------
inclu 738 750 12.00 8.45
-ding ----------------------------
inclu 754 766 12.00 21.89
-ding ------------------- 9.28
cut to
25 g/t
Au)
----------------------------------------------------------------------

----------------------------------------------------------------------
RKD-110 10025.000 10850.000 247 -55 98.5 118 19.50 2.75
----------------------------------------------------------------------
134 248 114.00 2.47
----------------------------------------------------------------------
RKD-112 10025.000 10825.000 262 -61 30 38 8.00 3.88
----------------------------------------------------------------------
78 212 134.00 1.51
----------------------------
245 260 15.00 1.02
----------------------------------------------------------------------

----------------------------------------------------------------------
RKD-113 10097.500 10895.000 295 -80 34 38 4.00 8.74
379.5 399 19.50 2.14
----------------------------
inclu 381.55 386 4.45 6.60
-ding ----------------------------
408 414 6.00 4.27
inclu 408 412.5 4.50 5.51
-ding ----------------------------
524 840 316.00 3.57
------------------- 3.13
(cut to
25 g/t
Au)
----------------------------
inclu 540 598 58.00 6.65
-ding ------------------- 5.88
(cut to
25 g/t
Au)
----------------------------
inclu 606 618 12.00 4.28
-ding ----------------------------
inclu 634 662 28.00 10.16
-ding ------------------- 7.01
(cut to
25 g/t
Au)
----------------------------
inclu 708 720 12.00 6.32
-ding ----------------------------
inclu 744 766 22.00 6.02
-ding ------------------- 5.79
(cut to
25 g/t
Au)
----------------------------------------------------------------------

----------------------------------------------------------------------
RKD-114 10051.000 10900.000 310 -82 107 111 4.00 6.78
----------------------------------------------------------------------
597 624 27.00 3.58
----------------------------
inclu 612 624 12.00 6.21
-ding ----------------------------
639 651 12.00 2.30
-------------------
675 681 6.00 5.12
----------------------------
741 948 207.00 2.09
------------------- 1.99
(cut to
25 g/t
Au)
----------------------------
inclu 756 800 44.00 4.31
-ding ------------------- 4.23
(cut to
25 g/t
Au)
----------------------------
inclu 808 832 24.00 5.68
-ding ------------------- 4.93
(cut to
25 g/t
Au)
---------------------------------------------------------------------------


---------------------------------------------------------------------------
Grid
Azim Drill Intercept
Zone Hole # -uth (meters)
Grid Coordinates (deg Dip ---------------------- Grade
------------------ re- (deg- True (g/t
Northing Easting -es) rees) From To Width Width Au)
---------------------------------------------------------------------------
Central NAHD-
Zone 18 10446.000 9745.000 219 -45 77 79 2.00 1.27 3.00
North -------------------------------------------------------------------
90 91 1.00 0.63 1.17
-------------------------------------------------------------------
130 133 3.00 1.79 1.32
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD- 10540.000 9924.000 90 -60 46 49 3.00 2.69 1.04
20
-------------------------------------------------------------------
86 90 4.00 3.57 3.74
-------------------------------------------------------------------
160 172 12.00 10.50 1.17
-------------------------------------------------------------------
inclu 161 163 2.00 1.75 5.04
-ding
---------------------------------------------------------------------------
220 223 3.00 2.60 1.27
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
21 10653.000 10131.000 265 -69 115 130 15.00 13.28 1.09
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
22 10498.000 9930.000 90 -45 0 3 3.00 2.27 1.03
-------------------------------------------------------------------
23 34 11.00 8.22 0.71
-------------------------------------------------------------------
inclu 30 34 4.00 2.99 1.78
-ding
-------------------------------------------------------------------
93 97 4.00 2.89 1.19
-------------------------------------------------------------------
134 135 1.00 0.71 4.90
-------------------------------------------------------------------
148 155 7.00 4.89 2.91
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD- 10498.000 9930.000 90 -60 103 106 3.00 2.61 1.10
23
-------------------------------------------------------------------
144 147 3.00 2.58 0.82
-------------------------------------------------------------------
inclu 146 147 1.00 0.86 1.07
-ding
-------------------------------------------------------------------
170 173 3.00 2.56 1.16
-------------------------------------------------------------------
178 181 3.00 2.56 1.13
-------------------------------------------------------------------
191 197 6.00 5.11 1.07
-------------------------------------------------------------------
inclu 191 192 1.00 0.85 3.17
-ding
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
24 10623.000 10168.000 260 -60 346 350 4.00 3.07 0.57
-------------------------------------------------------------------
365 374 9.00 6.82 1.44
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
25 10574.000 10020.000 270 -60 0 12 12.00 9.89 0.63
-------------------------------------------------------------------
98 103 5.00 3.99 1.56
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
26 10526.000 10006.000 270 -60 81 94 13.00 10.48 1.81
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
27 10636.000 9899.000 90 -78 200.5 217 16.50 16.25 0.62
-------------------------------------------------------------------
296 297 1.00 0.98 1.83
-------------------------------------------------------------------
325 329 4.00 3.92 3.40
-------------------------------------------------------------------
368 371 3.00 2.93 2.13
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
28 10346.000 10009.000 79 -46 0 27 27.00 20.84 1.97
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
29 10346.000 10008.000 79 -61 0 6 6.00 5.47 0.99
-------------------------------------------------------------------
22.5 36 13.50 12.30 1.53
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
30 10402.000 9681.000 90 -50 39 51 12.00 9.61 0.47
-------------------------------------------------------------------
61 65.5 4.50 3.59 1.55
-------------------------------------------------------------------

-------------------------------------------------------------------
NAHD-
34 10348.000 10006.000 80 -62 33 62.5 29.50 27.00 2.30
-------------------------------------------------------------------
inclu
-ding 45 53 8.00 7.31 5.57
---------------------------------------------------------------------------


---------------------------------------------------------------------------
Central
Zone MKD-23 9814.000 10308.000 230 -45 27 41 14.00 11.69 1.62
South
--------------------------------------------------------------------

--------------------------------------------------------------------
MKD-24 9812.000 10386.000 230 -46 36 40 4.00 3.36 1.07
--------------------------------------------------------------------

--------------------------------------------------------------------
NO
MKD-25 9640.000 10308.000 51 -45 SIGNIFICANT
ASSAYS
--------------------------------------------------------------------

--------------------------------------------------------------------
MKD-29 9812.000 10386.000 230 -65 37.05 66.5 29.45 27.99 1.80
--------------------------------------------------------------------
inclu
-ding 50 56 6.00 5.70 4.20
--------------------------------------------------------------------
inclu
-ding 59 60.5 1.50 1.43 5.57
--------------------------------------------------------------------


--------------------------------------------------------------------
NO
SMKD-9 9608.000 10105.000 91 -45 SIGNIFICANT
ASSAYS
--------------------------------------------------------------------

--------------------------------------------------------------------
SMKD-10 9147.000 10007.000 94 -45 119 1.25 1.08 3.00
120.25
--------------------------------------------------------------------

--------------------------------------------------------------------
SMKD-11 9113.000 10068.000 90 -61 0 40.5 40.50 35.75 1.27
--------------------------------------------------------------------
inclu
-ding 33.2 37.5 4.30 3.80 6.18
--------------------------------------------------------------------


--------------------------------------------------------------------
WMKD-20 9925.000 9905.000 92 -62.7 0 6 6.00 4.24 2.42
--------------------------------------------------------------------
175 183 8.00 5.46 2.02
--------------------------------------------------------------------
220 224 4.00 3.11 2.45
--------------------------------------------------------------------
240 8.50 6.61 6.44
248.5
----------------------------
3.53
(cut
to
25 g/t
Au)
--------------------------------------------------------------------
inclu
-ding 242 246 4.00 3.11 13.32
--------------------------------------------------------------------
7.13
(cut
to
5 g/t
Au)
--------------------------------------------------------------------

--------------------------------------------------------------------
WMKD-21 9896.000 9951.000 92 -46.2 0 6 6.00 4.24 2.84
--------------------------------------------------------------------
48.5 60 11.50 10.42 2.89
--------------------------------------------------------------------

--------------------------------------------------------------------
WMKD-22 9954.000 9932.000 85 -54 0 6 6.00 4.60 2.39
--------------------------------------------------------------------
124 130 6.00 4.60 1.99
--------------------------------------------------------------------
inclu
-ding 125 127 2.00 1.53 4.57
--------------------------------------------------------------------

--------------------------------------------------------------------
WMKD-23 9920.111 9940.261 90 -50 0 15 15.00 10.61 1.46
--------------------------------------------------------------------
94 97 3.00 2.30 1.25
--------------------------------------------------------------------
105 108 3.00 2.30 1.10
--------------------------------------------------------------------

--------------------------------------------------------------------
WMKD-24 9982.368 9974.644 90 -45 64.5 74 9.50 6.72 2.17
--------------------------------------------------------------------
inclu
-ding 72 74 2.00 1.41 8.47
--------------------------------------------------------------------
83.25 91 7.75 5.48 2.95
--------------------------------------------------------------------
inclu
-ding 83.25 88 4.75 3.36 3.74
--------------------------------------------------------------------

--------------------------------------------------------------------
WMKD NO
-25 10013.888 9936.121 90 -45 SIGNIFICANT
ASSAYS
--------------------------------------------------------------------

--------------------------------------------------------------------
WMKD NO
-26 10013.888 9935.321 90 -67 SIGNIFICANT
ASSAYS
--------------------------------------------------------------------

--------------------------------------------------------------------
WMKD
-27 9893.750 9907.790 90 -48 0 8.5 8.50 5.69 2.71
--------------------------------------------------------------------
180.5 3.00 2.72 4.17
183.5
--------------------------------------------------------------------

--------------------------------------------------------------------
WMKD
-28 9841.000 9935.000 90 -48 27 42 15.00 13.59 1.60
--------------------------------------------------------------------


---------------------------------------------------------------------------
Grid
Azi- Drill Intercept
Hole Grid Coordinates muth Dip (metres) Grade
# ------------------ (deg- (Deg- ------------------ (g/t
Zone Northing Easting rees) rees) From To Width Au)
---------------------------------------------------------------------------
Swamp NO
Vein SVD-8 8607.48 11284.33 90.00 -85.00 SIGNIFICANT
ASSAYS
---------------------------------------------------------------------

---------------------------------------------------------------------
SVD-9 8796.68 11383.23 228.00 -45.00 32.35 52.00 19.65 1.28
---------------------------------------------------------------------
incl-
uding 32.35 40.00 7.65 2.40
---------------------------------------------------------------------

---------------------------------------------------------------------
NO
SVD-10 8673.50 11417.31 248.00 -60.00 SAMPLING
DONE
---------------------------------------------------------------------

---------------------------------------------------------------------
NO
SVD-11 8581.69 11239.23 90.00 -55.00 SIGNIFICANT
ASSAYS
---------------------------------------------------------------------

---------------------------------------------------------------------
NO
SVD-12 8507.49 11254.62 90.00 -50.00 SIGNIFICANT
ASSAYS
---------------------------------------------------------------------

---------------------------------------------------------------------
NO
SVD-13 8404.89 11189.20 270.00 -45.00 SIGNIFICANT
ASSAYS
---------------------------------------------------------------------

---------------------------------------------------------------------
SVD-14 8620.38 11286.63 90.00 -45.00 32.50 34.00 1.50 2.33
---------------------------------------------------------------------

---------------------------------------------------------------------
SVD-15 8620.00 11286.00 90.00 -70.00 40.00 52.00 12.00 0.78
---------------------------------------------------------------------

---------------------------------------------------------------------
SVD-16 8594.09 11286.86 90.00 -45.00 46.00 59.00 13.00 0.49
---------------------------------------------------------------------

---------------------------------------------------------------------
SVD-17 8613.70 11357.65 90 -45 66.93 71.00 4.07 0.84
---------------------------------------------------------------------

---------------------------------------------------------------------
NO
SVD-18 8498.00 11373.00 280 -45 SIGNIFICANT
ASSAYS
---------------------------------------------------------------------

---------------------------------------------------------------------
SVD-19 8614.00 11358.00 235 -45 58.00 70.00 12.00 2.39
---------------------------------------------------------------------

---------------------------------------------------------------------
NO
SVD-20 8614.00 11358.00 238 -70 SIGNIFICANT
ASSAYS
---------------------------------------------------------------------------

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