Guyana Goldfields Inc.
TSX : GUY

Guyana Goldfields Inc.

August 30, 2005 08:00 ET

Guyana Goldfields Inc.: Aurora Exploration Update

TORONTO, ONTARIO--(CCNMatthews - Aug. 30, 2005) - Guyana Goldfields Inc. (TSX:GUY) is pleased to report additional encouraging results from the Aurora Property, Guyana, South America. The Company holds a 100% interest in the Property.

Aleck Hill Zone

Drilling continues to outline significant near surface mineralization in this area. The Company has previously reported seventeen boreholes from this area. An additional 17 holes are reported herein. Highlights include holes SPD 24 which intersected 2.21 g/t Au over 87 metres, hole SPD 25 which intersected 3.88 g/t Au over 64.5 metres, as well as hole AHD 3 which intersected 7.22 g/t Au(cut) over 19.9 metres.

Mad Kiss Zone

Drilling has continued to delineate significant gold mineralization in this area. Highlights of current results, which management believes represents the "limbs" of the structure include hole MKD-2 which intersected 15.4 metres grading 9.1 g/t Au (cut) as well as hole MKD-4 which returned 10.7 g/t Au(cut) over 17.4 metres.

Exploration of the Mad Kiss showing is shedding light in understanding the underlying structural make-up of the area. Review of works by previous operators, as well as data from the current program, indicates that the Mad Kiss mineralization is controlled by what appears to be an isoclinal anticline with the axis plunging at 70 degrees and trending approximately 280 degrees (meridian). The fold nose of this anticline is a probable site for thickening of mineralization and is currently the target for proving a Saddle Reef type deposit. The surface location of the fold nose is also the site of a previous production shaft and open cast mining by both former operators and local miners, giving added credence to the hypothesis that a "thickened" deposit does exist along this fold. Current drilling at Mad Kiss is now focused from following the north limb of the anticline to probing the down-dip continuity of the steeply plunging fold nose.

Further Exploration

Drilling will commence next week on the Rory's Knoll area with a rig capable of drilling to depths in excess of 1200 m (NQ size core).

Reconnaissance work elsewhere on the property continues to define areas of anomalous gold mineralization for follow up work.

About Guyana Goldfields

The Aurora exploration and drilling program is being carried out under the direction of Mr. Rory Calhoun, a qualified person within the meaning of National Instrument 43-101. Mr. Calhoun has reviewed the exploration results contained in this news release. Core is split, with half sent to Loring Laboratories in Georgetown, Guyana for preparation and analysis using fire assay. Loring Laboratories is a Canadian owned and operated laboratory. 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) $9 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 by contacting:



Patrick Sheridan, President and Chief Executive Officer
347 Bay Street, Suite 301
Toronto, ON
M5H 2R7

Tel: 416-628-5936
Fax: 416-628-5935
E-mail: psheridan@guygold.com



Hole # Location Dip Az Mineralized Length (Metres) Grade
North East From To Length g/t Au
AHD-3 10000 9771 -55 58 0 15 15 2.35
66.21 91 19.88 7.92
7.221 cut to 25 g/t
AHD-6 10050 9764 -55 58 0 4 4 2.75
AHD-7 10000 9688 -80 58 0 4.5 4.5 1.97
280 298 18 2.15
AHD-8 9950 9692 -60 58 144 174 30 1.24
Including 144 150 6 1.21
Including 166.5 174 7.5 3.89
AHD-9 9950 9750 -60 58 31 34 3 27.45
22.38 cut to 25 g/t
103.5 109.5 6 6.06
AHD-10 10100 9780 -60 58 0 1.5 1.5 1.03
36 37.5 1.5 2.47
68 74 6 1.25
AHD-11 10050 9793 -61 58 0 3 3 2.35
97.5 100.5 3 5.69
AHD-12 9900 9750 -60 58 4 5.5 1.5 1.23
68.5 70 1.5 1.25
83.5 87 2 4.27
102 105 3 12.13
AHD-13 9850 9746 -60 58 0 7.5 7.5 11.21
8.19 cut to 25 g/t
95 97 2 1.93
114 116 2 4.07
AHD-14 9800 9753 -60 58 33 37.5 4.5 6.84
60 75 15 8.00
6.29 cut to 25 g/t
SPD-18 9750 9770 -45 58 23.5 38.5 15 3.92
SPD-19 9750 9742 -45 58 No significant results
SPD-20 9750 9750 -60 58 3.0 4.5 1.5 4.90
57 75 18 9.80
5.45 cut to 25 g/t
SPD-22 9900 9840 -45 238 0 45 45 4.53
1.79 cut to 25 g/t
SPD-23 9975 9780 -45 58 0 63 63 4.30
3.50 cut to 25 g/t
SPD-24 9975 9780 -60 58 0 87.17 87.17 2.21
SPD-25 10031 9805 -45 58 0 64.5 64.5 3.87
MKD-1 9830 10210 -60 148 0 13.5 13.5 2.96
59 62 3 1.98
117.5 119 1.5 1.10
MKD-2 9820 10255 -60 148 32 47.4 15.4 18.01
9.12 cut to 25 g/t
MKD-3 9873 10264 -60 113 0 7 7 1.90
119.76 131.54 11.78 1.51
MKD-4 9883 10210 -40 123 111 128.4 17.4 11.07
10.70 cut to 25 g/t
MKD-5 9907 10265 -70 128 0 1.5 1.5 1.70
171 186 15 2.35
MKD-6 9896 10204 -70 118 0 12 12 1.95
156 162.5 6.5 3.85
MKD-7 9931 10309 -70 128 34 35.5 1.5 1.13
63 64.5 1.5 1.47
248 249.6 1.6 1.90
MKD-8 10415 9850 -65 178 100.6 102 1.40 17.20

MKD - Mad Kiss zone
AHD - Aleck Hill Primary Zone Program
SPD - Aleck Hill Saprolite Program


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