Guyana Goldfields Inc. Receives Notice of an Additional Dissident Director Nominee

TORONTO, April 17, 2019 - Guyana Goldfields Inc. (TSX:GUY) (the "Company") today reported that it has received a new notice from its former Executive Chairman Patrick Sheridan, who was terminated from his executive position by the Board of Directors on July 30, 2018. The notice informed the Company that Mr. Sheridan intends to nominate an additional, seventh dissident nominee to the slate of six dissident nominees named in the meeting requisition submitted by a group of dissident shareholders led by Mr. Sheridan (collectively, the "Sheridan Dissidents"). The Company is reviewing the notice to evaluate if it complies with its by-law regarding advance notice of director nominations.

The Company is preparing a Management Information Circular with a more fulsome response to the Sheridan Dissidents' proposals, which it intends to file and mail to its shareholders well in advance of the May 22, 2019 Annual and Special Meeting.

About Guyana Goldfields Inc.:
Guyana Goldfields Inc. is a Canadian based mid-tier gold producer primarily focused on the exploration, development and operation of gold deposits in Guyana, South America.

Forwarding-Looking Information

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the anticipated timing for the filing and content of the Company's Management Information Circular.  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, those factors discussed in the section entitled "Risk Factors" in the Company's annual information form for the year ended December 31, 2018, which is available on the Company's profile at www.sedar.com. 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.