Guyana Goldfields Inc. Announces C$100 Million Bought Deal Financing

Wed Jan 30, 2013 3:34pm EST

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Marketwire

Guyana Goldfields Inc.

January 30, 2013 - 03:34:02 PM

Guyana Goldfields Inc. Announces C$100 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwire - Jan. 30, 2013) - 

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.

Guyana Goldfields Inc. (TSX:GUY) (the "Company") has announced today that it
has entered into an agreement with a syndicate of underwriters led by BMO
Capital Markets, as bookrunner, under which the underwriters have agreed to
buy on a bought deal basis by way of a short form prospectus, 29,420,000
common shares (the "Common Shares"), at a price of C$3.40 per Common Share for
gross proceeds of approximately C$100 million (the "Offering"). The Company
has granted the Underwriters an option, exercisable at the offering price for
a period of 30 days following the closing of the Offering, to purchase up to
an additional 15% of the Offering to cover over-allotments, if any. The
offering is expected to close on February 22, 2013 and is subject to the
Company receiving all necessary regulatory approvals.

The net proceeds of the offering will be used to fund the development of the
Aurora Gold project and for general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act
of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any State in which such offer, solicitation or sale would be unlawful.

About Guyana Goldfields Inc.: 

Guyana Goldfields Inc. is a Canadian based company, focused on the exploration
and development of gold deposits in Guyana, South America where the Company
has operated since 1996. The Company is focused on bringing the Aurora Gold
Project into production with infrastructure development currently underway.
Active exploration continues at Aurora and at the Company's Aranka Group of
Properties with the intention of further expanding these resources.
Greenfields exploration by our experienced team of geologists is also ongoing
in the broader Aranka group of properties. 

As at the date hereof, the Company has approximately C$32 million in cash and
cash equivalent and no debt; there are approximately 95 million shares issued
and outstanding. 

Forwarding-Looking Information 

This news release contains "forward-looking information" which may include,
but is not limited to, statements with respect to the estimation of mineral
resources. 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 GGI 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 final findings set forth in the NI 43-101
Technical Report, Updated Feasibility Study, general business, economic,
competitive, political and social uncertainties; the actual results of
exploration activities; changes in project parameters as plans continue to be
refined; accidents, labour disputes and other risks of the mining industry;
political instability; delays in obtaining governmental approvals or financing
or in the completion of development or construction activities, as well as
those factors discussed in the section entitled "Risk Factors" in GGI's annual
information form. Although GGI 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 GGI 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. Accordingly, readers should not place
undue reliance on forward looking statements. 

FOR FURTHER INFORMATION PLEASE CONTACT: 
Guyana Goldfields Inc.
Patrick Sheridan
CEO and Director
(416) 628-5936 Ext. 2295
(416) 628-5935 (FAX)


Guyana Goldfields Inc.
Jacqueline Wagenaar
Vice President, Corporate Communications
(416) 628-5936 Ext. 2295
(416) 628-5935 (FAX)
jwagenaar@guygold.com
www.guygold.com
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