TORONTO, April 19, 2012 /PRNewswire/ - Guyana Goldfields Inc. ("Guyana" or the "Company") (TSX: GUY) announces that Mr. Alexander Po has resigned as a director of the Company, effective as of April 19, 2012. Mr. Po will continue to serve the Company in the capacity of Exploration Manager.
Mr. Patrick Sheridan (Interim President & COO, CEO) states "We wish to thank Mr. Po for his long-term guidance and contributions provided to the Board of Directors of the Company, we look forward to continuing to work with Mr. Po in his role as Exploration Manager."
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 Feasibility Study ("FS") by year-end. For further details regarding the Aurora Gold Project FS, reference should be made the FS 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.
As at the date hereof, the Company has approximately $24 million in cash and short-term bank guaranteed investment certificates and no debt; there are approximately 83 million shares issued and outstanding.
SOURCE Guyana Goldfields Inc.