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Guyana Goldfields Inc.

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Summary

Project:

Aurora

Deposit:Aurora
Location:Guyana
Commodities:Gold
Date:2/2/2017
Report Code:NI43-101
Report Type:Feasibility Study
Project Stage:Active Mining & Production
Report details:2-2-2017: Guyana Goldfields Inc. announces a Feasibility Study report for its Aurora deposit at the Aurora project. Updated Feasibility Study results incl. post-tax NPV (5%) of $850M, 16 year LOM. Guyana Goldfields Inc. (Guyana Goldfields, GGI or the Comp
Resources:(Reserve, P+P): 36.7Mt @ 2.99g/t Au for 3.537Moz Au contained at project total
CP/QP:[Resources]: Timothy Carew (SRK Consulting (Canada) Inc.)
ABSTRACT:Guyana Goldfields Inc. (Guyana Goldfields, GGI or the Company) owns a 100% interest in the Aurora Gold Mine (Aurora or the Mine), an open pit mine utilizing a standard 5,600 tonnes per day (tpd) CIL processing facility located in Guyana, South America. The Aurora mine poured its first gold in August 2015 and after a successful ramp-up declared commercial production on January 1, 2016. For the calendar year 2016, the mine produced 151,600 ounces with a total of 1.9 Mt processed at an average head grade of 2.74g/t Au. This feasibility study assumes a gold price of $1,200 per ounce and reflects an expansion of the current processing facility from 5,600 tonnes per day (tpd) to 8,000 tpd. The proposed expansion of the mill is planned to be implemented in two phases and is expected to increase annual production to above 200,000 ounces beginning in 2018 for the life of the mine with gold production peaking at 302,704 ounces in 2021.

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