Guyana Goldfields Inc.
TSX : GUY

Guyana Goldfields Inc.

April 10, 2006 11:46 ET

Guyana Goldfields Inc.: Aker Kvaerner to Conduct Preliminary Metallurgical Engineering Study for Peter's Mine

TORONTO, ONTARIO--(CCNMatthews - April 10, 2006) - Guyana Goldfields Inc. (TSX:GUY), is pleased to announce the engagement of Aker Kvaerner E & C, a Division of Aker Kvaerner Canada Inc, to carry out a preliminary metallurgical engineering study of the Peters Mine property located in the Puruni District of Guyana, South America.

Aker Kvaerner will conduct a review of previous metallurgical work on the property and will undertake an evaluation of possible process route options, recovery methods and throughput. They will develop equipment sizing data, a process equipment list, preliminary equipment layout drawing and an estimate of capital cost to an overall accuracy tolerance of +/- 30%. Aker Kvaerner E&C is part of the internationally renowned engineering and construction Norwegian-based Aker Kvaerner ASA group of companies.

This study is in conjunction with the on-going development of the Peter's Mine property which has obtained the necessary environmental permitting for a 1000 tonnes per day cyanide leaching operation from the Guyanese government.

About The Peters Mine Property (8358 acres)

The Peters Mine Property was in production from 1904 to 1909. During this period approximately 1.24 tonnes of gold was recovered from 63,000 tonnes of ore mined. Mill head grades were approximately 41g/t Au with recoveries of about 75%. The Property was subject to a sporadic exploration campaign between 1996 and 2002. Drilling and prospecting during that period outlined at least five areas that host gold mineralization. All of these areas lie within a major deformation zone which runs for 8km through the center of The Property. Historical drill holes from this exploration campaign include 52.67m @5.7 g/t Au, 120m @ 2.82 g/t Au, 12.19m @ 46.03 g/t Au, and 24.99m @ 5.2 g/t Au.

In 2005 the Company commissioned an airborne geophysical survey on The Property. This survey outlined several additional areas for follow up ground geophysics as well as possible drilling. The Company plans an aggressive exploration program concomitant with ongoing engineering and development work for the ensuing 12 months.

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) $11.7 million in cash and no debt.

Additional Information

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

141 Adelaide Street West, Suite 301 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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