Guyana Goldfields Announces Mr. Claude F. Lemasson as President and Chief Operating Officer



    TORONTO, Feb. 27 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) ("Guyana") is
pleased to announce the appointment of Claude F. Lemasson, P.Eng., MBA, as the
new President and Chief Operating Officer (COO) of Guyana.
    Former President Mr. Patrick Sheridan will continue in his role as Chief
Executive Officer (CEO) and Director with Guyana, and will provide ongoing
leadership and guidance to the Company.
    Mr. Sheridan states "Guyana Goldfields is pleased to welcome Mr. Lemasson
to the Company. The addition of Mr. Lemasson to our executive management team
is a significant milestone in the corporate development of our company. His
demonstrated knowledge and hands-on experience in mine engineering,
development and operation will be a valuable asset as we move towards the
definitive feasibility study, construction and subsequent operation of the
Aurora Gold Project."
    Mr. Lemasson is a professional engineer with 20 years of experience in
mining construction and operations across Canada and the United States. From
May 2006 to present, Mr. Lemasson was Goldcorp's General Manager of Projects
for Canada and U.S. and was specifically responsible for Opinaca Mine's
"Eléonore Project" in Northern Quebec. In his capacity of General Manager, he
was responsible for all project management activities, including
administration, logistics, human resources, community affairs, project
exploration, environmental, general management, corporate relations, as well
as scoping and pre-feasibility studies particularly encompassing geology,
mining, processing, infrastructure, and economic analysis.
    He was previously employed (2000-2006) with Goldcorp Inc. (TSX:G) as the
Mine General Manager of the Red Lake mine. Prior to Goldcorp, as a Project and
Construction Manager with Merit Consultants International Inc., he oversaw the
engineering and construction of the Goldcorp-owned Red Lake mine in Northern
Ontario.
    Mr. Lemasson is also a recent graduate of the prestigious
Kellogg-Schulich Executive MBA program, where he gained international
perspectives on global strategic management and decision-making, and
unparalleled exposure to international business contexts.
    Mr. Lemasson states "I am pleased to join this dynamic team and to have
the unique opportunity to contribute to the strategic advancement of such a
solid gold discovery and deposit as is the Aurora project. We expect to create
significant value for both shareholders and stakeholders."
    Mr. Lemasson has been granted 150,050 stock options at $2.69, and an
additional 599,950 stock options at $2.69 subject to shareholder approval at
the upcoming Guyana Goldfields Annual and Special Meeting scheduled for April
7, 2009.

    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 technical studies to advance and develop the Aurora
Project in Guyana. As previously announced, (see press release dated December
8, 2008 at www.sedar.com under the Guyana Goldfields Inc. profile, "Guyana
Goldfields Announces Increased Resource at Aurora 3.69 Million Ounces Measured
and Indicated and 1.72 Million Ounces Inferred"), the Aurora Project contains
a Measured resource of 8.08 million tonnes @ 4.11 g/t Au., Indicated resource
of 21.06 million tones @ 3.87 g/t Au. and an Inferred resource of 19.97
million tonnes @ 2.77 g/t Au. Mr. D. K. Mukhopadhyay, MAusIMM, Senior Mineral
Resource Geologist of Micon International Co. Limited, reviewed and approved
the technical data in his capacity of a Qualified Person under National
Instrument Policy 43-101. As at the date hereof, the Company has approximately
$20 million in cash and short-term bank guaranteed investment certificates and
no debt.

    %SEDAR: 00022477E




For further information:

For further information: Mr. John Patrick Sheridan, CEO, Mr. Claude F.
Lemasson, President & COO, Guyana Goldfields Inc., Suite 1205-141 Adelaide
Street West, Toronto, Ontario, Canada, M5H 3L5, Tel: (416) 628-5936, Fax:
(416) 628-5935, info@guygold.com, www.guygold.com


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