Guyana Goldfields Inc. Comments on Venezuela Border Dispute

TORONTO, Oct. 22, 2015 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) (the "Company" or "GGI") would like to comment on recent developments regarding the Venezuela-Guyana border dispute as it recently received an unfounded notification of a possible legal claim from Venezuela.

The Venezuela-Guyana border dispute was resolved and agreed upon by all parties under the 1899 Arbitration Agreement and any claims made outside of such agreement violate international law. The matter is currently before the United Nations, however Venezuela's border claim is widely viewed by the international community to be without merit.

Guyana Goldfields is an emerging gold producer with the onset of its Aurora Gold Mine and has been exploring and developing in Guyana since 1996.

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. GGI is an emerging gold producer with the onset of its 100% owned Aurora Gold Mine which achieved first production in mid-2015. The Aurora Gold Mine has a total gold resource of 6.54 million ounces in the measured and indicated categories (62.83 million tonnes at 3.24 g/t Au) as well as an additional 1.82 million ounces in the inferred category (16.93 million tonnes at 3.34 g/t Au).  For further details, please refer to the press release dated December 9, 2013 and the report entitled "NI 43-101 Technical Report, Updated Feasibility Study – Aurora Gold Project" dated January 29, 2013 available on SEDAR at www.sedar.com. 

SOURCE Guyana Goldfields Inc.

Guyana Goldfields Inc., Scott A. Caldwell, President and Chief Executive Officer; Jacqueline Wagenaar, Vice President, Investor Relations & Corporate Communications, Tel: [phone] Ext. 2295, E-mail: [email protected], Website: www.guygold.com