August 2012 Investor Presentation

Forward Looking Statement

This presentation of Guyana Goldfields Inc. (the "Company") contains statements that constitute "forward‐looking statements." Such forward‐looking statementsinvolve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or developments in our industry, todiffer materially from the anticipated results, performance or achievements expressed or implied by such forward‐looking statements. Forward looking statements arestatements that are not historical facts and are generally, but not always, identified by the words "expects," "aims," "plans," "anticipates," "believes," "intends,"g y, y , y p , , p , p , , ,"estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred fromthe interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as such informationconstitutes a prediction of what might be found to be present when and if a project is actually developed. Forward‐looking statements this document includes arestatements regarding: the Company's expectations regarding drilling and exploration activities on properties in which the Company has an interest; and the Company'sstatements regarding estimates of resources on properties in which the Company has an interest. There can be no assurance that such statements will prove to beaccurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance onh f d l ki h k l f h i i d I f h ld l l diff i ll f h C 'these forward‐looking statements that speak only as of their respective dates. Important factors that could cause actual results to differ materially from the Company'sexpectations include among others, risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timelymanner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfillexpectations and realize the perceived potential of the Company's properties; uncertainties involved in the estimation of resources; the possibility that requiredpermits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may precludecommercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipmentbreakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overrun or unanticipated expenses in the work program; thebreakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overrun or unanticipated expenses in the work program; therisk of environmental contamination or damage resulting from the Company's operations; risks associated with title to mineral properties; and other risks anduncertainties discussed appear elsewhere in the Company's documents filed from time to time with the Toronto Stock Exchange and Canadian securities regulators.These statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposedtransactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. Forward‐lookingstatements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as expressly required byapplicable securities laws, the Corporation undertakes no obligation to update these forward‐looking statements in the event that management's beliefs, estimates oropinions, or other factors, should change.

This presentation uses the terms "Inferred Resource", "Indicated Resource" and "Mineral Resource". The Company advises readers that although these terms arerecognized and required by Canadian securities regulations (under National Instrument 43‐101 "Standards of Disclosure for Mineral Projects"), the US Securities andExchange Commission does not recognize these terms. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever beconverted into reserves. In addition, "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot beassumed that any part of an Indicated or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral

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Resources may not form the basis of feasibility or pre‐feasibility studies, or economic studies except for a Preliminary Assessment as defined and permitted underNational Instrument 43‐101. Readers are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. The MineralResources stated in this news release are not mineral reserves and, in the absence of a current feasibility study, do not demonstrate economic viability. Thedetermination of mineral reserves can be affected by various factors including environmental, permitting, legal, title, taxation, socio‐political, and marketing issues.

Investment Summary

New FS Leadership New team with development expertise 

Aurora Gold ProjectNext producing gold mine in Guyana, South America

Resources & Grade 6.54 M oz Au M&I Resource; 1.82 M oz Au Inferred ResourceHigh average grade of + 3.0 g/t Au

Permitting All permitting received; Ready for construction

Bankable Feasibility Study Vast improvements being made to project’s economics

O 400 000 f l d i t b lt f G i Shi ld

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Blue SkyOver 400,000+ acres of land in greenstone belt of Guiana Shield;Secondary Regional Complex: 2 new discoveries made at Aranka

Corporate Snapshot

Symbol: TSX: GUYShares Issued 95,071,814

Top 15 Shareholders Shares %

The Baupost Group 18.8M 19.8%Options 7,928,138

Warrants 0

Diluted: 102,999,952

52 week: Hi/Lo C$10.58 / C$1.67

Franklin Resources (Templeton) 10.7M 11.2%

Van Eck 7.3M 7.7%

Patrick Sheridan Jr. (Founder/CEO) 6.2M 6.5%

3-month average volume: 958,385Market Cap (at C$ 2.22) C$211 million

Cash Position C$51 million

Monthly burn rate C$2 million

IFC (World Bank Group) 5.1M 5.4%

ProFund Advisors 3.5M 3.7%

Norges Bank 2.0M 2.0%

AMG Analysen 1.8M 1.9%y

Debt $0

Insider, 7%

AMG Analysen 1.8M 1.9%

Sprott Asset Mgmt 1.7M 1.8%

AGF Investments Inc. 1.0M 1.0%

Fidelity Investments 1.0M 1.0%

Retail  35%

Instit., 58%

7%  TD Asset Mgmt 0.8M .08%

First Eagle Investments 0.8M .08%

British Columbia Investment Mgmt 0.6M .06%

D f B k P i S A 0 6M

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58% Degroof Bank Privee S.A. 0.6M .06%

Management Team

CEO and Interim President & COO: Mr. Patrick Sheridan Jr., M.Sc. Founder of Guyana Goldfields from its inception in 1994 – 6.5% ownership stake in GUY Active in mineral exploration in Guyana for 15+ years – discovered the Aurora gold deposit Mr Sheridan holds a MSc in Economics from the London School of Economics Mr. Sheridan holds a MSc. in Economics from the London School of Economics

Executive VP, Finance and CFO: Mr. Paul Murphy, B.Comm, CA 37+ years of international financial experience , of which 30 years almost exclusively in the resource industries Former Partner with PwC and National Mining Leader in Canada/Leader for the Western Hemisphere Mining Centre of Excellence Responsible for assessing all financing options

VP, Exploration: Mr. Dan Noone, BApSci (Geol), MBA 20+ years of international mineral exploration and development experience Previous VP of Peru Operations for Aquiline Resources Inc. (Acquired by Pan American Silver Corp.) Held various senior geologist roles managing projects in Papua New Guinea, Indonesia, Peru, Ecuador and Argentina.

VP, Projects: Mr. St. John Lees (Based in Guyana) 15+ years international experience in both the construction and resources industries. Previously responsible for the engineering, procurement and construction management for Rio Tinto Iron Ore Atlantic’s Simandou Project in

Guinea, West Africa. Responsible for advancing the technical studies, development, and construction of the Aurora Gold Project and managing the overall project team

Country Manager, Guyana: Ms. Violet Smith 20+ years experience in operations management Involved with the Company since its inception Oversees all operations and logistics in Guyana as well as the public relations in country

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VP, Corporate Communications: Ms. Jacqueline Wagenaar: CPIR, B.Mos Previously lead investor relations programs for several junior mining companies and is a Certified Investor Relations Professional from the

Richard Ivey School of Business Responsible for all marketing, communications and investor relations initiatives. Graduate of the University of Western Ontario in Business

The Region

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GUYANA – The Country

Mining friendly jurisdiction & government

A P itti Li R i d R d f C t ti Aurora Permitting License Received; Ready for Construction

Only English speaking country in South America with British common law and secure tenure - part of the Commonwealth

Democratically elected government under parliamentary system Democratically elected government under parliamentary system

Guyana GDP: US$2.8B (2011 est); GYD$ 581B

Long history of significant gold production:

Gold was the largest export of the country in 2011 with 360,000 oz

Mining License Received and Mineral Agreement Signed ( Nov.18/11):

Royalty:

5%: Gold price $1,000/oz or less

8%: Gold price $1,000/oz +

Corporate income tax: 30% with no withholding tax on interest payments

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p g p y

Property Locations

Aurora Gold Project, Aurora

6.54M oz Au M&I; 1.82M oz Au Inferred

High grade +3.0 g/t Au

“Shovel-ready” with all permits

New Bankable Feasibility Study due Q4

Sulphur Rose, Aranka

Indicated 277,580 oz Au, Inferred 289,250 oz Au

2 di i d ithi 5k di 2 new discoveries made within a 5km radius

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Aurora Gold Project

From 2004 to June 30, 2012:

D ill d 1 341 h l

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Mineralized Zones

Drilled 1,341 holes

371,741 meters

Resources & Grade

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Comparable Grade Analysis

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Source: Scotia Capital. Data as of 07/30/12.

Key 2012 Initiatives

N B k bl F ibilit St d D Q4New Bankable Feasibility Study  ‐ Due Q4Staged development approach: Accelerate Production of Saproliteof Saprolite

Infrastructure Construction – OngoingDevelopment of Strategic Project Infrastructure

E l i O iExploration – Ongoing

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BFS Project TeamjDeepak Malhotra, Project Manager (focus on Metallurgy, Process, Tailings)

PhD in Mineral Economics and M S and B S in Metallurgical Engineering PhD in Mineral Economics and M.S. and B.S. in Metallurgical Engineering 40 + years experience in metallurgy and mineral economics—bankable feasibility studies

Don Elkin, Project Manager(focus on mining, project economics)

B S of Engineering Mathematics and a B S of Geological Engineering B.S. of Engineering Mathematics and a B.S. of Geological Engineering 50 years experience in geology, mining and reserve estimation

Ashley Martin, Civil Engineer(focus on mine layout: tailings, water management and river dyke)

Civil engineering degree from Curtin University in Western Australia Civil engineering degree from Curtin University in Western Australia Involved in large open‐pit mining operations and civil construction in Africa and Australia primarily for gold 

and copper projects, such as Equinox's Lumwana copper project in Zambia

Dan Noone, VP, Exploration 20+ years of international mineral exploration and development experience 20+ years of international mineral exploration and development experience  Held various senior geologist roles managing projects in Papua New Guinea, Indonesia, Peru, Ecuador and 

Argentina

Christine Robinson, Operations Manager & Study Coordinator

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15+ years experience in general business management Responsible for overall coordination and review of studies work

Bankable Feasibility Studyy y

Contributors for FS Main ComponentsResource and Geology SRK Toronto

Civil: TMA, WMP & River Dike Internal and Tetra Tech

Mi i T k 1 BHOS SRK T tMining: Track 1 BHOS SRK Toronto

Mining: Track 2 SLR SRK Vancouver

Metallurgy RDI and SGS Vancouver

Process Tetra Tech

Environmental  Environ

i i l l i /C h d GFinancial Evaluation/Costs Tetra Tech and GUY

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Bankable Feasibility Studyy y

FocusUpdating and revising key elements of the Bankable Feasibility Studythat have the greatest ability to significantly improve projecteconomicseco o cs

Options Under Review in BFS St d d l t i Staged development scenario Use of ramp(s) rather than shaft Sequencing of mining and plant design Mining Method: Blast Hole Open Stoping and Sub Level Retreat Optimal underground mining depth Reductions to fleet distance haulage and plant

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Reductions to fleet, distance haulage and plant Potential savings to capital and operating costs

Accelerated Production

Mine Sequencing Concept: Saprolite FirstMine Sequencing Concept: Saprolite First Oxidized ore being mined and processed over the first 2 years of 

operations, followed by a hard rock open pit and underground mining scenarioscenario

Proposed Sequencingp q g Mine saprolite for two years to generate cash flow

Ramping up saprolite production during first 2 years

Sequence open pit and underground ramp in Year 3

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Saprolite Pitsp

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BFS – Mining Method #1 ‐Blast Hole Open Stoping

Open pit:Removal of some of the smaller pits considered to be marginalReview of mobile equipment size, ramps, haul roads and strip ratiohaul roads, and strip ratioReview of contract mining for open pit pre‐stripping

Under Underground:Concentrate on mining deposit from surface to ~750mRemoval of the vertical shaft 

Evaluation

Previous FS Shaft depth

Removal of the vertical shaftAnalysis and tradeoff of U/G mining methodsExamination of contract mining proposals, including possible dual decline access to R ’ K ll U/G

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Rory’s Knoll U/G

BFS – Mining Method #2 ‐ Sub‐Level Retreat

Lead by SRK (Vancouver) Objective : Compare SLR mining method with the currently proposed Blast Hole Open Stoping (BHOS) in 

th BFSthe BFS Typically SLR is suitable for sub‐vertical pipe like ore bodies (similar to Rory’s Knoll) located in strong 

country rocks Successfully used on diamond mines in South Africa and in Canada R l ti l i l “T D ” th d ith t ti ll hi h d ti t Relatively simple “Top Down” method with potentially high production rates Much lower operating cost ‐ no backfill required Shallow to moderate depth mining, easy access

Example:Ekati Diamond Mine, Northwest Territories

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Example:Diavik Diamond Mine, Northwest Territories

Proposed Improvements To Site Plan

WaterWater

River DikeRiver Dike

Water Management 

Pond

Water Management 

PondOpen PitArea

Open PitArea

ShaftShaft

Cuyuni River

CampCamp

ProcessArea

ProcessArea

Mine WasteStockpile

Mine WasteStockpile

AirstripAirstrip

TailingsArea

TailingsArea

GateGate

1km

Access RoadAccess Road

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Yearly Rainfall = 2.5mYearly Rainfall = 2.5m

Additional Infrastructure Advances

Campp

An area for the camp has been selected and is being prepared

Surveying work at site has increased

Moving existing buildings will begin in the next 3 months

Kingston Wharf

Evaluations for the rehabilitation of and improvements to the wharf areunderwayunderway

Assessment of logistics planning utilizing the wharf once upgraded isongoing

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Logistics and Infrastructure

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Aranka Exploration

Sulphur Rose

277,580 indicated resource; 289,250 inferred resource

Extension drilling in second half of year

N-1

New Discovery made in February 2012 located 5Kms NE of Sulphur Rose

400m by 300m Au soil anomaly y y

S-3

Two gold anomalies situated halfway between N-1 and the Sulphur Rosep

Wynamu

Our most prospective target; 3km by 2.5km zone of alteration. Team of geos situated here

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gin first half of year

N‐1 Discovery

New Discovery made in February 2012 l t d 5k th t f2012 located 5kms northeast of Sulphur Rose

400m by 300m Au soil anomaly

6 trenches excavated to date

4 diamond drill holes, totaling 797 meters, have been drilled to date

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N‐1 Discovery

2 trenches out of 6 excavated to date have returned a best interval of 1.41 g/t Au over 52 metres, including 1.80 g/t over 32 metres and 4.34 g/t Au over 12 metres (Trench # 12-01A).

Trenching has confirmed a 400 metre strike length consisting of altered and mineralized quartz Trenching has confirmed a 400 metre strike length consisting of altered and mineralized quartz diorite comparable to the style of mineralization at Sulphur Rose Gold deposit.

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N‐1 Discovery

4 diamond drill holes, totaling 797 meters, have been drilled to date; 2 assays received to date

Drill Hole N1D-01: Returned gold grades of 1.06 g/t Au over 29 meters including a higher grade interval of 2 44 g/t Au over 8 metres and 14 13 g/t Au over 1 metreinterval of 2.44 g/t Au over 8 metres and 14.13 g/t Au over 1 metre. Drill Hole N1D-02: Returned 4.35 g/t Au over 20 meters including higher grade intervals of 6.42 g/t Au over 13 metres and 53.21 g/t Au over 1 metre

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S‐3 Target

Situated halfway between N-1 and Situated halfway between N 1 and Sulphur Rose

Infill soil auger sampling have delineated two gold anomalies measuring 400m bytwo gold anomalies measuring 400m by 300m and 300m by 200m

Latest soil samples returning up to 8.40 g/t Au

Trenching of this gold anomaly will commence next month.

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Sulphur Rose Deposit

23 km away from Aurora in a straight line Northwest trending zone measuring ~500m strike length X 200m width X ~630 m depth. Northwest trending zone measuring 500m strike length X 200m width X 630 m depth. O/P depth to 255m; Block model depth extends to 640m (Micon, Dec 2011) Remains open vertically and at depth. Metallurgical testing: 91.9% recovery (similar to Aurora). No by-products. Drilled 49,394m from 177 holes

(Jan 1, 2010 – June 30, 2012)

Tonnes Au Grade( /t)

Contained Au(I f )(g/t) (Inf ounces)

Indicated

O/P 8,250,000 1.04 275,550

U/G 30,000 2.10 2,030

Total 8 280 000 1 04 277 580Total 8,280,000 1.04 277,580

Inferred

O/P 5,120,000 1.14 187,710

U/G 1,210,000 2.61 101,540

Total 6 330 000 1 42 289 250

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Total 6,330,000 1.42 289,250

Contact Information

Head Office:Head Office:

Guyana Goldfields Inc. Telephone: (416) 628 5936141 Adelaide St. West, Suite 1608 Fax: (416) 628 5935 Toronto ON M5H 3L5 Email: info@guygold comToronto, ON M5H 3L5 Email: info@guygold.com

Investor Queries:

Vice‐President , Corporate CommunicationsJacqueline WagenaarJacqueline WagenaarTelephone: (416) 628 5936 Ext. 2295Email: jwagenaar@guygold.com

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Appendix

Appendix

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Board of Directors

Alan Ferry, CFA, Geologist: (Lead Director)Alan Ferry is an independent businessman since 2007 following over 27 years as a mining analyst and mining corporate finance specialist. Prior to that, he worked as a geologist.

Patrick Sheridan Jr., MSc: Founder, CEO and Interim President & COOMr. Sheridan has depth of experience, working in the mining industry for more than 20 years. He holds a B.Sc. and M.Sc. from the London School of Economics and Political Science, United Kingdom.

Scott A. Caldwell, P.Eng (B.Sc., Mining Engineering) Mr. Caldwell is a mining engineer with nearly 30 years experience working in developing and operating mines worldwide and has over 10 years g g y y p g p g p g yexperience working in Nevada. Mr. Caldwell was Chief Operating Officer of Kinross Gold Corporation until August 2006 and is currently the President , CEO and Director of Allied Nevada Gold Corp.

Dan Noone, MBA, Geologist: VP, ExplorationMr. Noone has 20 years experience in mineral exploration in Australasia and South America. He was previously V.P.of Peru Operations for Aquiline Resources and prior to that was CEO of Absolut ResourcesAquiline Resources and prior to that was CEO of Absolut Resources.

Robert A. Bondy, LLB: Mr. Bondy recently retired from Blake, Cassels & Graydon LLP where he spent over 30 years in the Securities and Corporate Law Groups .

Richard Williams, LLB: M Willi i th Di t f Fi t M t l I d f W R I H i l th P id t d f d f Bl k ll I tMr. Williams is the Director of First Metals Inc. and of Waseco Resources Inc. He is also the President and founder of Blackwell Investor Relations Corp., an investor relations firm specializing in establishing and strengthening relationships between public companies and the investment community.

Jean-Pierre Chauvin, P.Eng (B.Sc., Mining Engineering) Mr. Chauvin brings more than 40 years of combined experience in mining operations and construction management. Of particular note, he

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participated in the development of the Isle-Dieu mine in Matagami, Quebec for Noranda Mines Inc., which required the sinking of production and exploration shafts, as well as the development and definition of the underground operation. Mr Chauvin is currently employed as an interim President & CEO of PC Gold Inc. and sits on the Boards of PC Gold Inc., Macusani Yellowcake Inc., Lakeside Minerals Inc., and Andean American Gold.

Site Geology

Geological Description

Rory's Knoll mineralization: disseminated pyrite and gold mineralization associated with intense silica-fuchsite-sericite-carbonate alteration in tonalite intrusive probably emplaced at the hinge of the folded volcanicfuchsite sericite carbonate alteration in tonalite intrusive probably emplaced at the hinge of the folded volcanic rock and metasediments.

Mad Kiss mineralization: disseminated pyrite and gold mineralization associated with intense silica-fuchsite-sericite-carbonate alteration in a quartz feldspar porphyry dyke.

Aleck Hill mineralization: mesothermal gold veins hosted in the shear zones of metavolcanic and Aleck Hill mineralization: mesothermal gold veins hosted in the shear zones of metavolcanic and metasedimentary rocks; occurs in a zone of pyrite-rich quartz-carbonate veins in volcanic rocks that are enclosed in an alteration envelope which reportedly includes silica-sericite and calcite cement filling fractures.

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