Guyana Goldfields Discovers a New Mineralized Gold Zone at the Aurora Gold
Project

TORONTO, Oct. 8 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) ("Guyana Goldfields" or the "Company") is pleased to announce the discovery of a new mineralized gold zone just north-east of the existing main Mad Kiss zone in the Golden Square Mile at its Aurora Gold Project in Guyana.

As of September 11, 2009, thirteen (13) diamond drill holes, totaling 3,333 meters, have been drilled to delineate the shape and attitude of this new zone. The results are set out in Table 1 below.

The best drill holes include MKD-45W which returned a significant intercept of 27 m at 4.94 g/t Au including 14 m at 8.60 g/t Au, MKD-52 which returned 17 m at 4.06 g/t Au including 6 m at 10.35 g/t Au, and BH09- RK-RMP-04 which returned 29 m at 4.60 g/t Au including 7.4 m at 14.19 g/t Au.

Claude F. Lemasson, the President and Chief Operating Officer (COO) of Guyana Goldfields, states, "This new discovery validates our belief that the Golden Square Mile hosts additional gold deposits. We are convinced that there is upside potential within the area under review. All of this supports our plans to move forward with the development of a profitable gold mine at Aurora."

The new zone is located approximately 115 meters northeast from the east end of the main Mad Kiss zone. It resembles a tabular body with an east-west strike and has a dip of -60 degrees to the north. The new zone has a dimension of 40 meters along strike, 250 meters along dip and thickness of 20 meters. The zone is drill tested down to -260 m rl (relative level = sea level) (approximately 310 m depth from surface), and remains open at depth.

The new zone has been intersected in nine (9) holes. As well, four (4) holes drilled to the east of the new zone returned narrow Quartz-Feldspar Porphyry ("QFP") zones possibly cut by younger diorite intrusive.

The gold mineralization is associated with quartz-carbonate-sulfide veining and stockworks cross-cutting the QFP body. The high grade zone is characterized by 5-20% quartz-carbonate veining with 3-5% pyrite dissemination. The high grade shoot is from -150m rl to -260m rl and remains open at depth. This style of mineralization is similar to the main Mad Kiss gold mineralization. The QFP body appears to connect to the main Mad Kiss zone. There is a blind zone at line 9850N between 10320E and 10400E from -164 to -207 m rl that separates the two zones. The new zone is a viable target for underground mining and if the high-grade shoot expands farther to the west, this may extend the current Mad Kiss pit depth by 115 meters.

The mineralized zones were drilled in NQ core, sampled with an average length of 2 meters and assayed for Au using FA-AAS with Fire Assay- gravimetric finish for samples with (greater than)3000 ppb Au. Assays were done at Acme Analytical Laboratories in Georgetown, Guyana.

This discovery is part of the ongoing infill and exploration drilling effort in the Golden Square Mile being carried out with 6 drills. This new zone was not included in the last resource estimate and Preliminary Assessment (August 2009), but will be included in the new resource estimate in support of the Feasibility Study in 2010.

    
    Table 1 - New Zone Intercepts

    -------------------------------------------------------------------------
                                Grid             Drill Intercept        Grade
    Hole     Grid Coordinates  Azimuth  Dip           (meters)           (g/t
    Number  Northing   Easting (deg.)  (deg.)   From    To   Width*     Au)
    -------------------------------------------------------------------------
    MKD-39   9806.60  10386.22    89    -60    35.90   38.00     2.10    0.66
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-40   9806.52  10385.83    89    -70    40.00   40.65     0.65   14.90
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-41   9806.11  10384.64    66    -87    63.00   73.00    10.00    3.80
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-42   9853.10  10410.05   173    -83    25.50   28.00     2.50    0.45
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-43   9933.13  10431.83   170    -75   267.00  270.00     3.00    1.04
    -------------------------------------------------------------------------
                                              297.00  306.00     9.00    0.42
    -------------------------------------------------------------------------
                                              332.35  334.10     1.75    2.06
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-44W  9933.13  10431.83   170    -75   294.00  304.00    10.00    0.60
    -------------------------------------------------------------------------
                                              331.00  348.00    17.00    1.66
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-45W  9933.13  10431.83   170    -75   282.84  310.00    27.16    4.94
    -------------------------------------------------------------------------
                                       Incl.  284.00  298.00    14.00    8.60
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-46   9933.13  10431.83   200    -75   191.00  195.00     4.00    0.44
    -------------------------------------------------------------------------
                                              213.00  215.00     2.00    0.52
    -------------------------------------------------------------------------
                                              221.00  223.00     2.00   12.60
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-47   9901.18  10491.91   192    -80   306.00  315.00     3.00    0.78
    -------------------------------------------------------------------------
                                              333.00  339.00     6.00    1.15
    -------------------------------------------------------------------------
                                              364.05  364.55     0.50    1.16
    -------------------------------------------------------------------------
                                              378.00  386.00     8.00    0.93
    -------------------------------------------------------------------------
                                              412.00  414.00     2.00    0.54
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-50   9862.13  10424.17   170    -65    22.30   23.00     0.70    0.58
    -------------------------------------------------------------------------
                                              117.00  119.00     2.00    0.73
    -------------------------------------------------------------------------
                                              129.00  133.00     4.00    0.35
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-51   9884.40  10430.22   170    -65   199.60  201.00     1.40    3.94
    -------------------------------------------------------------------------
                                              199.60  205.00     5.40    1.36
    -------------------------------------------------------------------------
                                              217.00  219.00     2.00    0.67
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MKD-52   9933.13  10431.83   180    -78   245.00  247.00     2.00    0.57
    -------------------------------------------------------------------------
                                              255.00  259.00     4.00    0.38
    -------------------------------------------------------------------------
                                              312.00  329.00    17.00    4.06
    -------------------------------------------------------------------------
                                                                        3.638
                                                                      (cut to
                                                                       25 g/t
                                                                          Au)
    -------------------------------------------------------------------------
                                       Incl.  323.00  329.00     6.00   10.35
    -------------------------------------------------------------------------
                                                                        9.148
                                                                      (cut to
                                                                       25 g/t
                                                                          Au)
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    BH09-
     RK-
     RMP-04  9869.79  10492.63   234    -70   228.40  257.40    29.00    4.60
    -------------------------------------------------------------------------
                                                                        4.561
                                                                      (cut to
                                                                       25 g/t
                                                                          Au)
    -------------------------------------------------------------------------
                                       Incl.  250.00  257.40     7.40   14.19
    -------------------------------------------------------------------------
    *True width cannot be determined
    

The Aurora exploration and infill drilling program is being carried out under the direction of Mr. Niel Silvio (Aus.IMM), a qualified person within the meaning of National Instrument 43-101. Mr. Silvio has reviewed the content of this news release, including the drilling results.

    
    View Figure 1a, 2 and 3 below:
    http://files.newswire.ca/826/MADKISS_PLAN.pdf
    

The advancement of the Aurora project will continue with extensive drilling in the next few months, completion of the Environmental and Social Impact Assessment (ESIA) in Q4 2009, completion of the Hydropower Feasibility Study and the issue of the Permit to build and operate the mine in Q1 2010, as well as the completion of the Definitive Feasibility Study by AMEC in Q2 2010.

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 at the date hereof, the Company has approximately $22 million in cash and short-term bank guaranteed investment certificates and no debt.

%SEDAR: 00022477E

SOURCE Guyana Goldfields Inc.

For further information: For further information: Mr. Claude F. Lemasson, President & COO or Ms. Jacqueline Wagenaar, Director of Investor Relations, 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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