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Press release from PR Newswire

Guyana Goldfields Hires Vice-President, Projects

Monday, April 23, 2012

Guyana Goldfields Hires Vice-President, Projects10:35 EDT Monday, April 23, 2012 TORONTO, April 23, 2012 /PRNewswire/ - Guyana Goldfields Inc. (TSX: GUY) ("GGI" or "the Company") is pleased to announce the hiring of St. John Lees in the position of Vice-President, Projects. This key appointment is part of the Company's strategic plan to expand its project team with leaders in the mining industry as GGI moves towards production. St. John Lees is the former Area Manager Infrastructure for Rio Tinto Iron Ore Atlantic's Simandou Project in Guinea, West Africa. With a background in Civil Engineering and Geology backed up by an MBA, St. John has over fifteen years of international experience in the building and resource industries. "St. John's substantial expertise managing large-scale infrastructure projects will be a real asset to the Aurora Gold Project. He has the experience, education, leadership skills, and technical knowledge this role demands. Most importantly, St. John possesses a proven-track record of achieving milestones.  In the coming months, we will continue building the strong team that will be instrumental in making this project an enormous success," stated Patrick Sheridan, CEO. During the last five years, St. John was responsible for leading the design and building strategy for the multi-billion dollar infrastructure associated with the development of the Simandou Project. The infrastructure items within his scope of work included: electrical supply and distribution, fuel supply and distribution, offices, housing and accommodation, communications, water supply and distribution, and the road network. Prior to this, St. John held various positions with Rio Tinto including: Manager Technology and Energy, Simandou Project; Manager Contracts and Commercial Systems, Value in Use Manager (Business Improvement). Preceding his work with Rio Tinto, St. John Lees was employed by several other large-scale projects such as, Minara Resources (Perth), KCGM Gold Mine (SuperPit-Kalgoorlie), Western Mining Corporation (Melbourne) and Kumagai Gumi Co. Ltd. (Thailand, Singapore, Vietnam). St. John Lees will be based in Guyana and will be directly responsible for overseeing the construction of all of the Aurora Gold Project's infrastructure and mine development including: roads, port, airstrip, camp and related facilities, communications, fuel supply and distribution, power plant, and processing plant. About Guyana Goldfields Inc. Guyana Goldfields Inc. is a Canadian based company, primarily focused on the exploration and development of gold deposits in Guyana, South America where the Company has operated since 1996. The Aurora Gold Project in Guyana has a current measured and indicated resource of 5.71 million ounces gold (47.040 million tonnes at a grade of 3.83 g/t) (see press release dated September 9, 2011). The Company plans to issue a revised Aurora resource estimate mid-2012 and a new FS by year-end. For further details regarding the Aurora Gold Project, reference should be made to the technical report for the Aurora Gold Project which has been filed on SEDAR at www.sedar.com and on the Company website at www.guygold.com, with no material changes from the February 24, 2012 press release. At the Aranka Properties, the Company has discovered a deposit at Sulphur Rose and N-1 and other highly prospective targets within a 5-km radius have been identified for drill testing in 2012. 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 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. SOURCE Guyana Goldfields Inc.For further information: <p> <b>Guyana Goldfields Inc. </b> </p> <p> Patrick Sheridan,<br/> Interim President & COO, CEO<br/> Jacqueline Wagenaar<br/> Vice President, Corporate Communications<br/> Tel: (416) 628-5936 Ext. 2295<br/> Fax: (416) 628-5935<br/> E-mail: <a href="mailto:jwagenaar@guygold.com">jwagenaar@guygold.com</a><br/> Website: <a href="http://www.guygold.com">www.guygold.com</a> </p>