Guyana Goldfields Inc.

Guyana Goldfields Inc.

September 14, 2007 17:47 ET

Guyana Goldfields Inc.

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2007) - Guyana Goldfields Inc. ("Guyana") (TSX:GUY) announces it has filed its interim consolidated financial statements for the nine month period ended July 31, 2007, together with the corresponding management's discussion and analysis, which are now available on SEDAR at

Guyana also announces that as a result of a regulatory review, amended and restated interim consolidated financial statements financial statements for the three and six month periods ended January 31 and April 30, 2007, together with amended and restated management's discussion and analysis for such periods, are in the process of being prepared and will be made available on SEDAR at These statements originally recorded a fair value adjustment on marketable securities calculated based upon the market value of the securities as of October 31, 2005 of $3,201,587. However, the fair value adjustment on marketable securities should have been based on the market value of the securities as of October 31, 2006 of $3,930,425. The impact of this matter is that the unrealized income for the three months ended January 31, 2007 and April 30, 2007 was overstated by $728,838 and the deficit at November 1, 2006 was understated by $728,838. While these adjustments affect Guyana's profitability, they do not affect its cash position or the value of its mineral property assets. Certain corresponding changes have also been made to the management's discussion and analysis for these periods, together with other clarifying amendments.

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. Guyana Goldfields holds advanced exploration projects in various stages of development and has been operating in Guyana continuously since 1996.

Additional Information

Information is available on Guyana Goldfields' website at and on and through its offices at:

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

Contact Information