Guyana Goldfields Inc: SAG Mill Arrives At Aurora Gold Project

TORONTO, Dec. 12, 2014 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) ("GGI") is pleased to announce the arrival of the semi-autogenous grind ("SAG") mill shells to its Aurora Gold Project ("Aurora") presently under construction in Guyana, South America.

The 26ft diameter x 18ft long SAG mill was manufactured by CITIC Heavy Industries Co., Ltd and has an installed power of 5.5 megawatts designed to process an initial throughput of 5,000 tonnes of ore per day. The mill arrived at GGI's Buckhall wharf and was transported along the access road to Aurora earlier this month by being split into two sections. Each shell section weighed approximately 49 tonnes and the total combined weight was approximately 100 tonnes. The mill shells were the heaviest component that needed to be transported to Aurora from Buckhall wharf as part of the entire construction process.

To view pictures of the arrival and transportation of the mill, please go to:

http://www.guygold.com/s/Aurora_Project.asp?ReportID=673438&_Type=Aurora-Project&_Title=Photos

Aurora currently has over 700 people working at site with this rapidly expanding to 900 personnel by the end of the year

Scott Caldwell, President & CEO, states, "We are pleased that the arrival of this critical plant completes yet another key milestone towards the development of Aurora and achieving first production in mid-2015. The safe, efficient transportation of the SAG mill to the Aurora site is a real credit to the entire logistics team composed of our own logistics personnel, local service providers and the EPC contractor, as well as the cooperation of other road users. The arrival of the SAG mill shells was the heaviest component to be transported to site which clearly demonstrates that our logistics chain is fully operational."  

About Guyana Goldfields Inc.

Guyana Goldfields Inc. is a Canadian based company, focused on the exploration and development of gold deposits in Guyana, South America. GGI is focused on the construction and development of the Aurora Gold Project scheduled for commercial production in mid-2015. The Aurora Gold Project has a total gold resource of 6.54 million ounces in the measured and indicated categories (62.83 million tonnes at 3.24 g/t Au) as well as an additional 1.82 million ounces in the inferred category (16.93 million tonnes at 3.34 g/t Au).  For further details, please refer to the press release dated December 9, 2013 and the report entitled "NI 43-101 Technical Report, Updated Feasibility Study – Aurora Gold Project" dated January 29, 2013 available on SEDAR at www.sedar.com.  GGI also holds a significant portfolio of attractive exploration properties and holds cash and cash equivalents of US$68M as of July 31, 2014.

Forwarding-Looking Information

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the estimation of mineral resources. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the receipt of applicable regulatory approvals, the timing of the advance of the funds pursuant to the Facility, fulfilling all conditions precedent to the advance of funds pursuant to the Facility, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in GGI's annual information form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

SOURCE Guyana Goldfields Inc.