Guyana Goldfields Inc. Files Management Information Circular Supplement

TORONTO, May 2, 2019 - Guyana Goldfields Inc. (TSX:GUY) (the "Company" or "Guyana Goldfields") today announced that it has filed a Management Information Circular Supplement and a WHITE form of proxy (collectively, the "Supplemental Proxy Materials") in respect of the upcoming Annual and Special Meeting of the Company's shareholders (the "Meeting").

The Supplemental Proxy Materials, which can be found on SEDAR (www.sedar.com) and the Company's website (www.guygold.com), are being mailed to the Company's shareholders.

As announced by the Company on April 29, 2019, the Company has reached a settlement with a group of shareholders who had requisitioned a special meeting of the Company's shareholders (the "Requisitioning Shareholders").

As part of the settlement, the Company appointed two experienced mining executives, Alan Pangbourne and Allen Palmiere, to join the Board as independent directors, and two long-serving independent directors have stepped down.

The Supplemental Proxy Materials set out the Company's recommendation that shareholders vote FOR the election of each of the seven directors of the reconstituted Board at the Meeting:

Peter Dey
Wendy Kei
René Marion
Allen Palmiere
Alan Pangbourne
Maryse Saint-Laurent
Scott Caldwell

As part of the settlement, the Requisitioning Shareholders also withdrew their special meeting requisition. Accordingly, the Supplemental Proxy Materials reflect that the advisory resolutions set out in the Requisitioning Shareholders' special meeting requisition will no longer be considered at the Meeting.

The Meeting is being held at 10:00 a.m. (Toronto time) on Wednesday, May 22, 2019 at Vantage Venues (formerly St. Andrew's Conference Centre) 150 King Street West, 27th Floor, St. Andrew's Hall S1, Toronto, ON M5H 1J9.

The proxy voting deadline is 10:00 a.m. (Toronto time) on May 17, 2019 or, if the Meeting is adjourned or postponed, 48 hours (excluding Saturdays, Sundays or statutory holidays in the Province of Ontario) prior to the time and date to which the Meeting is adjourned or postponed.

Shareholders with questions about how to vote their common shares of Guyana Goldfields at the Meeting should contact the Company's proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 (North American Toll Free); or 416-304-0211 (Collect Outside North America); or by email at assistance@laurelhill.com.

Guyana Goldfields recommends that shareholders vote the WHITE form of proxy and/or voting instruction form for Guyana Goldfields' nominees.

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.

SOURCE Guyana Goldfields Inc.