Guyana Goldfields Inc. Announces Officer Departure

TORONTO, March 6, 2020 - Guyana Goldfields Inc. (TSX:GUY) (the "Company") wishes to advise that Suresh Kalathil, the Company's Senior Vice President and Chief Operating Officer ("COO"), has left the Company effective March 5, 2020. At this time, the Company does not plan on filling the COO position.

Alan Pangbourne, President and CEO of the Company, said, "We thank Suresh for his contributions over the last year and wish him well in his future endeavors."

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.

Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (together, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements may include, but are not limited to, statements and information with respect to financial results, current and future financing needs and strategic alternatives, and possible changes in Company management. 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," "should", "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 Company's ability to obtain financing on terms acceptable to the Company; the results of the Company's ongoing comprehensive mine plan and cost review; general business, economic, competitive, political and social uncertainties; the actual results of exploration and development activities; accidents, labour disputes and other risks of the mining industry; political instability; as well as those factors discussed in the sections entitled "Risk Factors" in the Company's latest annual information form and management discussion and analysis for the third quarter of 2019, each available on SEDAR 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.