Guyana Goldfields Reports Wide Gold Intercepts at North Aleck Hill

Thu Mar 13, 2008 11:27am EDT

* Reuters is not responsible for the content in this press release.

  TORONTO, ONTARIO, Mar 13 (MARKET WIRE) -- 
 Guyana Goldfields Inc. (TSX: GUY) reports the discovery of a potentially
significant new area of gold mineralization at the Company's 100% owned
Aurora Gold Property, Cuyuni River, Guyana, South America.

    In January 2008 the Company initiated an extensive trenching program on
four of five mineralized areas which lie in between the Aleck Hill and
Rory's Knoll resources. Currently, 4.65 million ounces of gold, of which
1.79 million ounces are classified as indicated and 2.68 million ounces
are classified as inferred, have been reported from these zones. (See
press release dated October 10, 2007) Approximately four kilometers of
trenching outside of these zones has been completed to date and
currently, complete assay results are available for one zone, North Aleck
Hill.

    Six trenches were cut along grid lines fifty metres apart. Trenches
averaged four metres in depth and varied in length from 183 metres to 243
metres. Broad zones of gold mineralization were discovered in trenches
NAHT-2 through NAHT-5 inclusive. Trench NAHT-2 returned 36.5 m @ 3.74 g/t
Au, NAHT-3 averaged 2.42 g/t Au over 133 metres, NAHT-4 cut 141 metres
grading 1.84 g/t Au as well as 6 metres grading 7.81 and NAHT-5 returned
1.16 g/t Au over 87 metres. Mineralization consists of a series of wide
sheeted veins and breccias with moderate stockworking between zones.
These intercepts appear to delineate a "swarm" of mineralized zones. The
strike direction of the "swarm" is north-north westerly and conforms with
the regional foliation as also observed at the Rory's Knoll area.
Currently this new zone has a minimum strike length of 175 metres and
pinches and swells between 36.5 and over 141 metres in width. Further
information on the North Aleck Hill trenching and sampling program and
procedures is available at www.guygold.com/nah

    The Company intends to publish an updated resource calculation for the
Golden Mile area in the third quarter of 2008, which will include at
least seven mineralized zones currently under investigation and
delineation.

    The Aurora exploration, drilling and trenching program is being carried
out under the direction of Mr. Niel Silvio, a qualified person within the
meaning of National Instrument 43-101. Sample blanks, duplicates and
recognized standards were inserted into the sample stream at regular
intervals. The Company is utilizing the services of Loring Laboratories;
a Canadian owned and operated facility located in Georgetown, Guyana. Mr.
Silvio has reviewed the exploration results contained in this news
release.

    About Guyana Goldfields:

    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) $20 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:

Suite 1201-141 Adelaide St. West
Toronto, ON, Canada
M5H 3L5
Phone: 416-628-5936
Fax: 416-628-5935
info@guygold.com


    

Contacts:
Guyana Goldfields Inc.
Patrick Sheridan Jr.
President and Chief Executive Officer
(416) 628-5936
(416) 628-5935 (FAX)
Email: psheridan@guygold.com
Website: www.guygold.com

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