Guyana Goldfields Inc.
TSX : GUY

Guyana Goldfields Inc.

December 12, 2007 15:26 ET

Guyana Goldfields Inc.: Aurora Exploration Update

TORONTO, ONTARIO--(Marketwire - Dec. 12, 2007) - Guyana Goldfields Inc. (TSX:GUY) is pleased to announce diamond drill results from it's ongoing exploration program on its 100% owned Aurora Project located in the Cuyuni Mining District, Guyana, South America.

Walcott Hill Area

The Wallcott Hill zone is located between the Rory's Knoll- East Walcott and Aleck Hill zones of the Golden Square Mile where an estimated resource of 4.65 Million Ounces Au (Indicated and Inferred) was reported in a press release dated October 10, 2007.

The Company has completed an additional eight diamond drill holes designed to define and delineate the nature of the mineralized zone, its geometry and continuity. Early interpretations indicate that the area is comprised of a north-northwest striking zone, which is dipping approximately 65degrees SW. The Walcott Hill zone is characterized by closely-spaced stockworks of quartz veinlets hosted in quartz-sericite-pyrite altered tonalite. The true thickness and strike length of the zone is still undefined although early drill intercepts indicate an initial 150 m strike length. The Walcott Hill zone remains open in all directions.



These holes were drilled to expand the known mineralization at Walcott
Hill.

------------------------------------------------------------------------
Location Orientation Drill Intercept (metres)
---------------------------------------------------------------- Grade
Hole North East Azimuth Dip From To Length g/t Au
------------------------------------------------------------------------
WHD-14 10119 10224 90 -51 6 9 3.00 1.87
-------------------------------------
16.2 28 11.80 0.82
-------------------------------------
63.7 64.6 0.90 1.33
-------------------------------------
129.5 131 1.50 0.99
-------------------------------------
139 145 6.00 0.56
-------------------------------------
149.94 151 1.06 3.63
-------------------------------------
165 176 11.00 0.97
-------------------------------------
184.9 188 3.10 1.16
------------------------------------------------------------------------
WHD-15 10141 10274 90 -47 no significant results
------------------------------------------------------------------------
WHD-16 10144 10224 90 -49 3 7.5 4.50 0.73
-------------------------------------
16.5 18 1.50 1.10
-------------------------------------
115 117.35 2.35 0.88
-------------------------------------
135 137 2.00 0.81
-------------------------------------
155 169 14.00 0.35
-------------------------------------
173 181 8.00 1.25
-------------------------------------
193 195 2.00 0.72
-------------------------------------
282 289 7.00 3.72
------------------------------------------------------------------------
WHD-17 10091 10274 90 -48 6 9 3.00 0.59
-------------------------------------
41 43 2.00 4.53
-------------------------------------
58.5 63 4.50 0.36
-------------------------------------
104 109 5.00 3.60
-------------------------------------
120 122.6 2.60 0.93
-------------------------------------
141.85 146 4.15 4.70
-------------------------------------
141.85 152 10.15 2.50
------------------------------------------------------------------------
WHD-18 10144 10118 90 -52 89 92 3.00 2.33
-------------------------------------
105.5 118 12.50 0.90
-------------------------------------
136 146 10.00 1.16
-------------------------------------
Incl 137 138 1.00 4.43
-------------------------------------
158 161 3.00 3.14
-------------------------------------
243 263 20.00 1.30
-------------------------------------
Incl 254 256 2.00 6.64
-------------------------------------
243 244 1.00 4.00
------------------------------------------------------------------------
WHD-19 10144 10192.5 90 -50 27 43 16.00 1.05
-------------------------------------
Incl 27 29.5 2.50 3.20
-------------------------------------
59 61 2.00 6.87
-------------------------------------
90.9 95.85 4.95 2.94
-------------------------------------
Incl 90.9 92.4 1.50 9.03
-------------------------------------
103 106 3.00 1.08
-------------------------------------
142 167 25.00 0.63
-------------------------------------
194 201 7.00 1.24
------------------------------------------------------------------------
WHD-20 10040 10354 90 -66 18 23.5 5.50 1.20
-------------------------------------
68 71 3.00 0.71
------------------------------------------------------------------------
WHD-21 10040 10354 90 -45 21 27 6.00 0.79
-------------------------------------
53 60 7.00 6.24
------------------------------------------------------------------------


Rory's Knoll

The Company reports results for twelve infill holes at the Rory's Knoll zone. The Company is encouraged by multiple high grade intercepts within the broader zones of gold mineralization. A long section showing the higher grade portion of the Rory's Knoll mineralization is available on the Company's web site at: http://www.guygold.com/maps/RK10750lg.jpg



---------------------------------------------------------------------------
Location Orientation Drill Intercept (metres)
------------------------------------------------------------------- Grade
Hole North East Azimuth Dip From To Length g/t Au
---------------------------------------------------------------------------
RKD-74 Devico Directional 646 823 177.00 2.67
Hole Kick-off point at 2.48 (cut to 25 g/t Au)
365.70 m from RKD-60 --------------------------------------
Incl 650 657 7.00 12.95
10.26 (cut to 25 g/t Au)
--------------------------------------
Incl 650 663 13.00 8.34
6.90 (cut to 25 g/t Au)
--------------------------------------
Incl 686 690 4.00 16.86
13.04 (cut to 25 g/t Au)
--------------------------------------
Incl 686 697 11.00 9.36
7.97 (cut to 25 g/t Au)
--------------------------------------
719 725 6.00 6.50
--------------------------------------
795 803 8.00 4.65
---------------------------------------------------------------------------
RKD-76 9900 10775 270 -63 3.75 58 54.25 2.47
--------------------------------------
Incl 27 33 6.00 6.15
--------------------------------------
Incl 27 43 16.00 4.11
--------------------------------------
74 84 10.00 1.42
---------------------------------------------------------------------------
RKD-77 9900 10760 270 -53 0 58 58.00 2.37
--------------------------------------
Incl 0 12 12.00 4.57
--------------------------------------
Incl 30 36 6.00 3.79
--------------------------------------
Incl 52 55 3.00 4.05
---------------------------------------------------------------------------
RKD-78 9900 10900 270 -63 173.35 181 7.65 2.06
196 250 54.00 0.95
--------------------------------------
RKD-79 10025 10894 270 -63 145.8 316 170.20 2.34
---------------------------------------------------------------------------
Incl 145.8 160.9 15.10 6.85
--------------------------------------
Incl 166.9 168.9 2.00 5.63
--------------------------------------
Incl 194.5 198.5 4.00 6.47
--------------------------------------
Incl 233 237 4.00 5.47
--------------------------------------
Incl 255 257 2.00 7.10
--------------------------------------
Incl 289 303 14.00 5.70
---------------------------------------------------------------------------
RKD-80 10098 10901 304 -74 7.5 50 42.50 8.73
--------------------------------------
Incl 16.5 30.5 14.00 12.37
--------------------------------------
Incl 26 29 3.00 16.47
--------------------------------------
Incl 35 44 9.00 15.00
--------------------------------------
Incl 36.5 39.5 3.00 22.32
--------------------------------------
Incl 41 44 3.00 16.84
--------------------------------------
320 326 6.00 1.77
--------------------------------------
347 351.5 4.50 3.52
---------------------------------------------------------------------------
RKD-81 9925 10900 273 -62 170 283.2 113.20 3.62
--------------------------------------
Incl 190.5 208 17.50 9.12
--------------------------------------
Incl 198.5 204 5.50 17.27
--------------------------------------
Incl 238 246 8.00 5.08
--------------------------------------
Incl 248 252 4.00 4.42
--------------------------------------
Incl 260 264 4.00 7.37
--------------------------------------
Incl 260 282 22.00 4.66
--------------------------------------
Incl 278 283.2 5.20 8.51
---------------------------------------------------------------------------
RKD-83 10050 10900 303 -76 322 331 9.00 6.22
--------------------------------------
388 394 6.00 1.58
--------------------------------------
458 661 203.00 3.20
--------------------------------------
Incl 464 498 34.00 5.73
--------------------------------------
Incl 478 498 20.00 6.82
--------------------------------------
Incl 504 512 8.00 9.38
--------------------------------------
Incl 532 538 6.00 9.20
--------------------------------------
Incl 592 610 18.00 5.41
--------------------------------------
Incl 592 596 4.00 4.37
--------------------------------------
Incl 600 610 10.00 7.41
--------------------------------------
Incl 650 654 4.00 4.90
---------------------------------------------------------------------------
RKD-84 9925 10875 272 -63 7 28 21.00 3.86
3.22 (cut to 25 g/t Au)
--------------------------------------
Incl 11.5 16 4.50 12.83
9.87 (cut to 25 g/t Au)
--------------------------------------
26.5 28 1.50 9.97
--------------------------------------
77 79 2.00 1.33
--------------------------------------
138 245 107.00 2.87
2.73 (cut to 25 g/t Au)
--------------------------------------
Incl 159 163 4.00 9.38
--------------------------------------
Incl 173 185 12.00 5.90
--------------------------------------
Incl 209 213 4.00 4.48
--------------------------------------
Incl 231 235 4.00 17.20
13.52 (cut to 25 g/t Au)
---------------------------------------------------------------------------
RKD-85 10150 10800 190 -89 401.35 608 206.65 3.28
3.19 (cut to 25 g/t Au)
--------------------------------------
Incl 440 450 10.00 4.91
--------------------------------------
Incl 488 496 8.00 8.09
--------------------------------------
Incl 526 546 20.00 5.59
--------------------------------------
Incl 530 538 8.00 7.73
--------------------------------------
Incl 552 578 26.00 4.14
--------------------------------------
Incl 582 588 6.00 5.13
--------------------------------------
Incl 592 606 14.00 10.18
8.91 (cut to 25 g/t Au)
---------------------------------------------------------------------------
RKD-86 9900 10875 273 -63 128.3 192.4 64.10 1.97
--------------------------------------
Incl 150.25 154.5 4.25 4.99
--------------------------------------
Incl 168 186 18.00 3.19
---------------------------------------------------------------------------
RKD-87B 10025 10875 270 -71 86 89 3.00 2.80
--------------------------------------
137.5 152 14.50 4.71
--------------------------------------
215 369 154.00 3.91
3.89 (cut to 25 g/t Au)
--------------------------------------
Incl 232 240 8.00 9.45
9.12 (cut to 25 g/t Au)
--------------------------------------
Incl 268 311 43.00 7.50
--------------------------------------
Incl 323 337 14.00 7.99
--------------------------------------
399 425 26.00 1.79
---------------------------------------------------------------------------


Rory's Knoll infill holes RKD-78/79/81/84/86/87B have delineated consistently high grade gold values associated within tonalite mineralization at shallow depths until -300 mRL while medium depth holes RKD-83/85 probed depths -300 mRL until -500 mRL. The deepest hole RKD-74 was likewise successful in delineating the western boundaries of the mineralized tonalite at depths -500 mRL until -700 mRL.

Patrick Sheridan, CEO, is very optimistic about the current results noting "Walcott Hill exploration work is starting to shape up into something that can be a significant additional resource inside the Golden Square Mile. The geological feature in terms of nature of mineralization (stockwork) and alteration (quartz-sericite-pyrite) has a close semblance with the Rory's knoll zone."

The Company is continuing its drilling program inside the Golden Square Mile. It is also expanding the exploration campaign by sending geological teams to prospective targets in the Greater Aurora area.

Aranka Exploration Update

Raskassa/Arangoy Areas

A grid auger soil-sampling program was recently completed covering about 39.5 square kilometers in the Raskassa and Arangoy areas. A 50mx200m grid was laid-out aggregating about 201.5 kilometers of cut gridlines. A total of 4,083 soil stations were established.

Soil samples were collected every meter to a maximum depth of two meters. Splits of all first-meter samples were separated and panned for visible gold, which were counted and recorded. The results indicate a strong west-northwest trending gold-pan anomaly in the Raskassa area.

The Company is awaiting assay results from this program.

Red Hill

A limited auger soil-sampling program was completed in the Red Hill area during November and early December. A 25m x 50 m grid was cut totaling approximately 18 line kilometers. Soil samples were collected every meter to maximum four meters depth.

Six hundred and fourteen soil samples were collected from 163 sampling stations.

In addition, sixty-two channel samples with some selective rock samples were taken from the land-dredge pits in the Red Hill area. Samples were taken from quartz stockwork zones as well as in exposed quartz veinlets. Visible gold blebs were observed in some of the samples associated with sugary, friable quartz.

The Company is awaiting assay results from this program.

About Guyana Goldfields

The Aurora exploration and drilling program is being carried out under the direction of Mr. Augusto Flores IV, a qualified person within the meaning of National Instrument 43-101. Mr. Flores has reviewed the exploration results contained in this news release. Core is split, with half sent to laboratories for fire assaying. The Company is currently utilizing the services of two independent laboratories, one of which is Loring Laboratories, a Canadian owned and operated facility, as well as the laboratory of a major Canadian mining company. 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) $25 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:



Suite 301-141 Adelaide St. West
Toronto, ON, Canada
M5H 3L5

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

Attention: Patrick Sheridan Jr. President & C.E.O.


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

Contact Information