Guyana Goldfields Inc.
TSX : GUY

Guyana Goldfields Inc.

June 02, 2006 08:00 ET

RETRANSMISSION: Guyana Goldfields Intersects 304.1 Metres of 4.85 g/t Au.

TORONTO, ONTARIO--(CCNMatthews - June 1, 2006) - Guyana Goldfields Inc. (TSX:GUY) is pleased to announce additional assay results from the ongoing drilling program at the Aurora Mine Property ,Guyana.

Rory's Knoll

Diamond Drill Holes RKD-55 (170.4m @ 2.73 g/t Au), RKD-56 (303m @ 3.20 g/t) and RKD-57 (304.1m @ 4.85 g/t Au) were designed to test the vertical continuity of mineralization at Rory's Knoll. A longitudinal section illustrating these holes is available at http://www.guygold.com

RKD-55 was designed to probe continuity from depth interval of -150m to - 300m; RKD 56 to probe from depth -250m to - 650m and RKD-57 to probe from -500m to -800m from different positions due to the -70 plunge of the mineralized zone. These holes were successful in identifying such continuity.

The three holes were drilled vertically for 2 additional reasons:

1. To be used as mother holes for a directional drilling program using the Devico system.

2. To study any vertical zonation of mineralization

Full results are tabulated below:



---------------------------------------------------------------------
Mineralized
Location Core Length (m) Grade
---------------------------------------------------------------------
Hole # North East Dip Azimuth From To Length g/t Au
---------------------------------------------------------------------
RKD-55 10053 10760 90 0 118.6 126.6 8 6.68
degrees degrees
---------------------------------------------------------------------
172.6 343 170.4 2.73
-------------------------------
2.71 (cut to 25g/t Au)
-------------------------------
Including: 227.1 239.1 12 8.64
-------------------------------
254.76 272.1 17.34 5.94
---------------------------------------------------------------------
5.82 (cut to 25g/t Au)
---------------------------------------------------------------------
RKD-56 10100 10750 90 0 96.9 156.6 59.7 1.79
degrees degrees
---------------------------------------------------------------------
254.6 299.1 44.5 2.17
-------------------------------
278.1 282.6 4.5 8.29
-------------------------------
320.6 374.1 53.5 2.77
-------------------------------
366.6 374.1 7.5 12.53
-------------------------------
395.1 698.1 303 3.20
-------------------------------
2.92 (cut to 25g/t Au)
-------------------------------
Including: 446.1 473.1 27 7.62
-------------------------------
6.47 (cut to 25g/t Au)
-------------------------------
482.1 503.1 21 7.44
-------------------------------
6.87 (cut to 25g/t Au)
-------------------------------
599.1 603.6 4.5 16.51
-------------------------------
9.75 (cut to 25g/t Au)
-------------------------------
644.1 650.1 6 7.33
-------------------------------
657.6 666.6 9 10.47
-------------------------------
9.18 (cut to 25g/t Au)
---------------------------------------------------------------------
Mineralized
Location Core Length (m) Grade
---------------------------------------------------------------------
Hole # North East Dip Azimuth From To Length g/t Au
---------------------------------------------------------------------
RKD-57 10198 10773 90 0 482 491.5 9.5 0.81
degrees degrees
---------------------------------------------------------------------
534 838.1 304.1 4.85
-------------------------------
4.24 (cut to 25g/t Au)
-------------------------------
Including 558 610.5 52.5 10.29
-------------------------------
9.06 (cut to 25g/t Au)
-------------------------------
663 669 6 24.76
-------------------------------
8.12 (cut to 25g/t Au)
-------------------------------
684 690 6 8.74
-------------------------------
700.5 715.5 15 8.08
-------------------------------
7.32 (cut to 25g/t Au)
-------------------------------
727.5 736.5 9 7.68
-------------------------------
6.86 (cut to 25g/t Au)
-------------------------------
742.5 750 7.5 12.22
-------------------------------
766.5 771 4.5 11.91
---------------------------------------------------------------------
859 868.35 9.35 1.41
---------------------------------------------------------------------

Drilling continues in this area.


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 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) $30 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 St. 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.

Contact Information

  • Guyana Goldfields Inc.
    Patrick Sheridan Jr.
    President & C.E.O.
    (416) 628-5936
    (416) 628-5935 (FAX)
    psheridan@guygold.com