Guyana Goldfields Inc. (TSX:GUY) states that there is no connection with Guyana Gold Corp. (OTCBB:GUYGC) and Mr. Zanic



    TORONTO, Oct. 9 /CNW/ - Guyana Goldfields Inc. (TSX:GUY)
    Guyana Goldfields Inc. (the "Company") states that there is no
relationship, nor has there ever been a relationship between the Company and
Guyana Gold Corp. (OTBB:GUYGC) of Las Vegas. Recent news articles pertaining
to Guyana Gold Corp. (OTCBB:GUYGC) of Las Vegas have necessitated the Company
to provide this clarification.
    Guyana Goldfields is currently exploring and developing the world class
Aurora Gold Project in Guyana, South America. The current gold resources at
the Aurora Gold Project stand at 1.97 million ounces indicated and
2.68 million ounces inferred. The Company expects to release an updated gold
resource in the very near future.
    Guyana Goldfields Inc. is primarily focused on the exploration and
development of gold deposits in the Guiana Shield of South America. The Guiana
Shield is in the northern part of the Amazon Craton and covers parts of
Guyana, Venezuela, Suriname, French Guyana, and northern Brazil. Guyana holds
advanced exploration projects in various stages of development and has been
operating in Guyana continuously since 1996.

    
    The TSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.
    

    %SEDAR: 00022477E




For further information:

For further information: John Patrick Sheridan, President and Chief
Executive Officer, Guyana Goldfields Inc., Suite 1205-141 Adelaide Street
West, Toronto, Ontario, Canada, Telephone: (416) 628-5936, Fax: (416)
628-5935, Email: psheridan@guygold.com


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