Guyana Goldfields Inc.
TSX : GUY

Guyana Goldfields Inc.

November 27, 2006 08:01 ET

Guyana Goldfields Intersects 231m @ 3.18 g/t Au

TORONTO, ONTARIO--(CCNMatthews - Nov. 27, 2006) - Guyana Goldfields Inc. (TSX:GUY):

The Company is pleased to report assay results from twenty eight diamond drill holes from four different zones at its' 100% owned Aurora Property, Guyana.

Rory's Knoll

The Company currently has two rigs committed to drilling in the lower portion of the Rory's Knoll mineralized zone utilizing the Devico(tm) directional drilling system. This program is designed to explore for gold mineralization between depths of 600 metres to 1200 metres vertically below surface and to position acceptable "piercing point" density for resource delineation.

The first hole in the current "directional drilling" program, Hole RKD-60, was successful in proving continuity of the Rory's Knoll zone at vertical depths from 644m to 857m below surface. The hole intersected gold mineralization having a weighted average assay of 3.18 g/t Au over 231 metres (core length) and containing internal high grade sections as shown in the table below:



Mineralized
Location Core Length (m) Grade
---------------- -------------------------------
Hole # North East Azimuth Dip From To Length g/t Au
---------------------------------------------------------------------------
RKD-60 10345 10745 175 -85 723 954 231 3.18
---------------------------------------------------------------------------
2.60 (cut to 25 g/t Au)
-------------------------------
Including: 744 786 42 8.43
-------------------------------
7.03 (cut to 25 g/t Au)
-------------------------------
776 786 10 14.83
-------------------------------
10.79 (cut to 25 g/t Au)
-------------------------------
798 814 16 11.64
-------------------------------
7.01 (cut to 25 g/t Au)
---------------------------------------------------------------------------


The estimated width of this mineralization at this vertical depth interval is approximately 150 metres based on long section 10750E (attached) containing the drill path of RKD-60.

Two additional deep holes have been completed in the lower portion of the Rory's Knoll zone. Assays are pending from these holes and will be publicly released when results are made available to the Company.

A map of the Rory's Knoll zone is available at: http://www.ccnmatthews.com/docs/guyana.jpg

West Mad Kiss

A total of seventeen drill holes from this previously unexplored area are reported hereunder. These are purely exploratory holes testing surface geological showings and geochemical anomalies. The West Mad Kiss zone is approximately 500 metres northwest of Rory's Knoll and 500 metres east of Aleck Hill. Lithological units (tonalite), and nature of alteration, are similar to that of the Rory's Knoll's zone. Significant intercepts include hole WMKD-10 (40m @ 1.94 g/t Au) and hole WMKD-17 (6m @ 6.94 g/t Au).



Mineralized
Location Core Length (m) Grade
---------------- -------------------------------
Hole # North East Azimuth Dip From To Length g/t Au
---------------------------------------------------------------------------
WMKD-1 10282 10175 220 -50 no significant results
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WMKD-2 10372 10079 215 -50 18 20 2.00 1.03
---------------------------------------------------------------------------
40 41.5 1.50 1.10
---------------------------------------------------------------------------
WMKD-3 10204 10199 215 -50 109.6 121 11.40 1.05
---------------------------------------------------------------------------
WMKD-3A 10205 10199 215 -75 24 27 3.00 1.60
---------------------------------------------------------------------------
120 127 7.00 0.69
---------------------------------------------------------------------------
159 180 21.00 0.73
---------------------------------------------------------------------------
WMKD-4 10177 10240 215 -50 0 6 6.00 0.93
---------------------------------------------------------------------------
47 54 7.00 1.06
---------------------------------------------------------------------------
68.5 80 11.50 1.72
---------------------------------------------------------------------------
WMKD-5 10304 10129 215 -50 31 32.5 1.50 1.82
---------------------------------------------------------------------------
108 111 3.00 1.15
---------------------------------------------------------------------------
0.00
---------------------------------------------------------------------------
WMKD-6 10187 10250 215 -75 0 10 10.00 1.68
---------------------------------------------------------------------------
25 27 2.00 1.31
---------------------------------------------------------------------------
WMKD-7 10138 10273 220 -50 30 32 2.00 1.84
---------------------------------------------------------------------------
58 60 2.00 1.93
---------------------------------------------------------------------------
84 91.5 7.50 1.53
---------------------------------------------------------------------------
183 184.5 1.50 1.12
---------------------------------------------------------------------------
WMKD-8 10138 10274 220 -70 12 15 3.00 0.93
---------------------------------------------------------------------------
64.5 66 1.50 1.36
---------------------------------------------------------------------------
WMKD-9 10306 10192 215 -55 no significant results
---------------------------------------------------------------------------
WMKD-10 10199 10202 35 -65 48 88 40.00 1.94
---------------------------------------------------------------------------
including 62 66 4.00 4.16
---------------------------------------------------------------------------
103 106 3.00 1.07
---------------------------------------------------------------------------
263 265 2.00 1.19
---------------------------------------------------------------------------
315 319.5 4.50 1.12
---------------------------------------------------------------------------
387 388.3 1.30 1.55
---------------------------------------------------------------------------
WMKD-11 10156 10351 215 -70 0 2 2.00 1.80
---------------------------------------------------------------------------
26 28 2.00 1.34
---------------------------------------------------------------------------
136.5 139.5 3.00 3.15
---------------------------------------------------------------------------
153 163.5 10.50 1.12
---------------------------------------------------------------------------
246 247.5 1.50 2.99
---------------------------------------------------------------------------
307.5 310.5 3.00 1.89
---------------------------------------------------------------------------
WMKD-12 10115 10325 140 -60 90 92.5 2.50 3.78
---------------------------------------------------------------------------
WMKD-13 10102 10506 220 -60 106 108 2.00 3.08
---------------------------------------------------------------------------
174 176 2.00 1.24
---------------------------------------------------------------------------
364 368 4.00 1.49
---------------------------------------------------------------------------
WMKD-14 10306 10192 36 -65 128 130 2.00 2.54
---------------------------------------------------------------------------
241 244.3 3.30 1.04
---------------------------------------------------------------------------
WMKD-15 10281 10378 310 -65 no significant results
---------------------------------------------------------------------------
WMKD-16 10282 10377 215 -60 162.33 165 2.67 2.13
---------------------------------------------------------------------------
170.75 172 1.25 2.33
---------------------------------------------------------------------------
185 196 11.00 0.83
---------------------------------------------------------------------------
246 248 2.00 1.33
---------------------------------------------------------------------------
WMKD-17 10305 10192 360 -90 256 262 6.00 6.94
---------------------------------------------------------------------------
294 300 6.00 2.02
---------------------------------------------------------------------------
354 368 14.00 1.19
---------------------------------------------------------------------------
418 434 16.00 0.66
---------------------------------------------------------------------------


Further drilling is required to determine true width of gold mineralization.

West of North Aleck Hill

Three holes are reported from this zone. These holes tested the near surface potential of anomalous gold in trenches west of the main North Aleck Hill mineralization. Hole NAHD-9 returned 5m grading 8.32 g/t Au. These hoes represent continuing exploration work to investigate the Aleck Hill zone to the north and west.



Mineralized
Location Core Length (m) Grade
---------------- -------------------------------
Hole # North East Azimuth Dip From To Length g/t Au
---------------------------------------------------------------------------
NAHD-9 10744 9611 225 -50 77 82 5.00 8.32
---------------------------------------------------------------------------
116 123.5 7.50 1.78
---------------------------------------------------------------------------
NAHD-10 10774 9574 225 -50 94.5 95.5 1.00 2.87
---------------------------------------------------------------------------
NAHD-11 10708 9645 225 -50 no significant results
---------------------------------------------------------------------------


Further drilling is required to determine true width of gold mineralization.

Aleck Hill

Assays for seven holes from the Aleck Hill area are reported hereunder. These holes targeted the primary zone at Aleck Hill. Gold mineralization continues to be encountered in this area of known historical workings. Significant results include hole AHD-29 (12.75m @ 3.64 g/t Au), hole AHD-31 (35m @ 1.53 g/t Au) and hole AHD-32 (24.9m @ 2.77 g/t Au). The results have demonstrated continuity of mineralization towards the north and south of the main Aleck Hill zone.



Mineralized
Location Core Length (m) Grade
---------------- -------------------------------
Hole # North East Azimuth Dip From To Length g/t Au
---------------------------------------------------------------------------
AHD-29 9650 9653 90 -60 60 72.75 12.75 3.64
---------------------------------------------------------------------------
150.15 151 0.85 2.98
---------------------------------------------------------------------------
AHD-30 9601 9650 90 -60 no significant results
---------------------------------------------------------------------------
AHD-31 10250 9707 90 -60 9 44 35.00 1.53
---------------------------------------------------------------------------
including 28.3 32 3.70 5.43
---------------------------------------------------------------------------
88 90 2.00 1.29
---------------------------------------------------------------------------
114 116 2.00 1.90
---------------------------------------------------------------------------
162.65 164 1.35 1.29
---------------------------------------------------------------------------
228 230.58 2.58 1.20
---------------------------------------------------------------------------
AHD-32 10247 9526 90 -60 239.7 242.3 2.60 1.33
---------------------------------------------------------------------------
261.4 286.3 24.90 2.77
---------------------------------------------------------------------------
including 277.75 284.3 6.55 4.29
---------------------------------------------------------------------------
AHD-33 10153 9669 90 -60 0 6 6.00 1.12
---------------------------------------------------------------------------
43.5 45.65 2.15 1.09
---------------------------------------------------------------------------
142.8 153 10.20 4.69
---------------------------------------------------------------------------
159 161 2.00 6.46
---------------------------------------------------------------------------
250 258 8.00 1.25
---------------------------------------------------------------------------
AHD-34 10138 9756 90 -45 105.75 114.3 8.55 6.39
---------------------------------------------------------------------------
153 159 6.00 1.99
---------------------------------------------------------------------------
AHD-35 10346 9529 90 -60 no significant results
---------------------------------------------------------------------------


Further drilling is required to determine true width of gold mineralization.

There are currently 6 drill rigs operating on the property. Ongoing exploration within the golden mile, as well as to the North West and South East continues to expand areas of possible gold mineralization.

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 lab 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) $24 million in cash and no debt.

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

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