TORONTO, April 13 /CNW/ - Guyana Goldfields Inc. ("Guyana" or the
"Corporation") (TSX: GUY) announces today that in furtherance of its
commitment to establish appropriate corporate governance practices, the
board of directors of the Corporation (the "Board") has established a
standing nominating committee (the "Nominating Committee") comprised of
Messrs. Alan Ferry, Richard Williams and Robert Bondy, each of which
are independent directors of Guyana. The mandate of the Nominating
Committee will include considering on a regular basis the number of
directors of the Corporation, and identifying and recommending from
time to time new nominees as directors of the Corporation, based upon
considerations such as (i) the competencies and skills necessary for
the Board as a whole to possess; (ii) the competencies and skills
necessary for each individual director to possess; and (iii) the time
and resources which each proposed nominee to the Board will be able to
devote to the Corporation.
In addition to the foregoing, the Board has committed to review its
compensation discussion and analysis as contained in the annual filings
of the Corporation against the Canadian Coalition of Corporate
Governance Best Practises in order to enhance such disclosure on a
About Guyana Goldfields Inc.
Guyana Goldfields Inc. is a Canadian based mineral exploration Company
primarily focused on the exploration and development of gold deposits
in Guyana, South America where the Company has operated since 1996. The
Company is currently undertaking drilling and studies to advance and
develop the Aurora Gold Project in Guyana with a current total resource
of 6.7 million ounces gold (5.34 million oz Measured & Indicated; 1.33
million oz Inferred). An updated resource estimate will be released in
August 2011 followed by a Feasibility Study in the fourth quarter of
At the Aranka Properties, currently in advanced staged exploration,
drilling of highly prospective targets is ongoing. The Company
discovered a gold deposit at Sulphur Rose containing an initial
inferred resource of 460,400 oz and plans to release an updated
resource estimate in August 2011.
SOURCE Guyana Goldfields Inc.
For further information:
Guyana Goldfields Inc.
J. Patrick Sheridan, Chief Executive Officer
Tel: (416) 628-5936
Fax: (416) 628-5935