Guyana Goldfields Reports Wide Gold Intercepts at North Aleck Hill
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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 email@example.com Contacts: Guyana Goldfields Inc. Patrick Sheridan Jr. President and Chief Executive Officer (416) 628-5936 (416) 628-5935 (FAX) Email: firstname.lastname@example.org Website: www.guygold.com Copyright 2008, Market Wire, All rights reserved. -0-