Mr. Rene Marion reports

GUYANA GOLDFIELDS INC. ANNOUNCES APPOINTMENT OF CHIEF EXECUTIVE OFFICER

Guyana Goldfields Inc. has appointed Alan Pangbourne as the company's president and chief executive officer (CEO), effective Jan. 1, 2020. Mr. Pangbourne will succeed Allen Palmiere, a director of the company who was appointed interim CEO in late July, 2019, until the company could complete its search for a permanent CEO. Mr. Palmiere will continue in his role as a director of the company.

Mr. Pangbourne brings to the role of CEO over 35 years of diversified management and senior operational experience with resource industry expertise in operations, engineering and major project development, along with a successful history of company turnarounds and mergers and acquisitions. Mr. Pangbourne was most recently the chief operating officer at SSR Mining Inc. Prior to that, he was vice-president of projects, South America, with Kinross Gold Corp., and before that Mr. Pangbourne held a number of senior roles over 15 years at BHP Billiton Ltd., including president and chief operating officer of Nickel Americas which included Cerro Matoso, Colombia and project development in Guatemala and Cuba. Mr. Pangbourne holds a bachelor of applied science in extractive metallurgy and a graduate diploma in mineral processing from WA School of Mines, Kalgoorlie, Australia. Mr. Pangbourne was appointed as a director of the company in May, 2019.

"We are delighted that Alan Pangbourne will join our team as president and CEO," stated Rene Marion, non-executive chair of the board of directors. "Alan's extensive experience, as well as his operational background and technical expertise, will be of tremendous benefit as we advance the company's corporate strategy."

"I am excited to be working with the team," stated Mr. Pangbourne. "I look forward to the opportunities we have to improve operational performance at Aurora and to create value for our shareholders through a disciplined approach to both productivity and value creation."

"On behalf of the company and the board of directors, I want to thank Allen for his strong leadership as interim CEO as we completed our search for a permanent CEO. Allen's contribution during this period has been critical to advance our corporate strategy and we look forward to his continued guidance as a member of the board of directors," added Mr. Marion.

About Guyana Goldfields Inc.

Guyana Goldfields is a Canadian-based mid-tier gold producer primarily focused on the exploration, development and operation of gold deposits in Guyana, South America.