- The document discusses Guyana Goldfields Inc., a gold mining company operating in Guyana, South America. - It provides highlights from 2016 including gold production exceeding guidance at 156,000 ounces and average realized gold price of $1,245 per ounce. - 2017 production guidance is provided between 160,000 to 180,000 ounces of gold at a cost of $800 to $850 per ounce. - Upcoming catalysts for the company include a mill expansion study in January 2017 and exploration program targeting reserve/resource growth within trucking distance of the existing mine.

1. January 2017
A SCARCE ASSET IN A TRUE
MINING DISTRICT

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This presentation of Guyana Goldfields Inc. (the "Company") contains
statements that constitute "forward-looking statements." Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause our actual results, performance or achievements, or
developments in our industry, to differ materially from the anticipated results,
performance or achievements expressed or implied by such forward-looking
statements. Forward looking statements are statements that are not historical
facts and are generally, but not always, identified by the words "expects,"
"aims," "plans," "anticipates," "believes," "intends," "estimates," "projects,"
"potential" and similar expressions, or that events or conditions "will," "would,"
"may," "could" or "should" occur. Information inferred from the interpretation of
drilling results and information concerning mineral resource and mineral reserve
estimates may also be deemed to be forward looking statements, as such
information constitutes a prediction of what might be found to be present when
and if a project is actually developed. Forward-looking statements this document
include statements regarding: the Company's expectations regarding drilling
and exploration activities on properties in which the Company has an interest;
and the Company's statements regarding estimates of reserves and resources
on properties in which the Company has an interest.
There can be no assurance that such statements will prove to be accurate.
Actual results and future events could differ materially from those anticipated in
such statements, and readers are cautioned not to place undue reliance on
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's expectations include among others, risks related to fluctuations in
mineral prices; uncertainties related to raising sufficient financing to fund
planned work in a timely manner and on acceptable terms; changes in planned
work resulting from weather, logistical, technical or other factors; the possibility
that results of work will not fulfill expectations and realize the perceived potential
of the Company's properties; uncertainties involved in the estimation of
resources and reserves; the possibility that required permits 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 preclude commercial
development or render operations uneconomic; the possibility that the estimated
recovery rates may not be achieved; risk of accidents, equipment breakdowns
and labour disputes or
other unanticipated difficulties or interruptions; the possibility of cost overrun or
unanticipated expenses in the work program; the risk of environmental
contamination or damage resulting from the Company's operations; risks
associated with title to mineral properties; and other risks and uncertainties
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
proposed transactions and programs on reasonable terms, the cost of
exploration and development and the ability of outside service providers to
deliver services in a satisfactory and timely manner. Forward-looking statements
are based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as expressly
required by applicable securities laws, the Corporation undertakes no obligation
to update these forward-looking statements in the event that management's
beliefs, estimates or opinions, or other factors, should change.
This presentation uses the terms "Inferred Resource", "Indicated Resource",
“Measured Resource” and "Mineral Resource". The Company advises readers
that although these terms are recognized and required by Canadian securities
regulations (under National Instrument 43-101 "Standards of Disclosure for
Mineral Projects"), the US Securities and Exchange 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 be converted into reserves.
In addition, "Inferred Resources" have a great amount of uncertainty as to their
existence, and economic and legal feasibility. It cannot be assumed 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 Resources
may not form the basis of feasibility or pre-feasibility studies, or economic
studies except for a Preliminary Assessment as defined and permitted under
National 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
Mineral Resources stated in this presentation are not Mineral Reserves and, in
the absence of a current feasibility study, do not demonstrate economic viability.
The determination of Mineral Reserves can be affected by various factors
including environmental, permitting, legal, title, taxation, socio-political, and
marketing issues.
FORWARD LOOKING STATEMENT

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 Cash position of US$70M vs. debt of US$80M as at Dec 31, 2016
 +20% annual production growth 2016 to 2018
 Potential for further growth via mill expansion from 5,000 – 8,000 tpd (study underway late
Jan 2017)
Organic Growth
 High grade ~200 average koz/yr Au producer with +16 years reserve life at a conservative
US$1,000 gold price
 Simple metallurgy and mine plan, positive grade reconciliation to date
 Exceptional free cash flow generation
A Scarce Asset
 No by-products
 Minimal currency exposure
 Oil price hedged for the near term up to 2019
100% Pure Gold
Exposure
 +200,000 acre land package in highly prospective & underexplored greenstone belt
 5 drill ready targets within a 30km radius from Aurora Mill
District Potential
Strong Balance
Sheet
INVESTMENT HIGHLIGHTS

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Proven and Probable Reserves Grade – Precious Metals Only (g/t Au equivalent)
Source: Company filings and BMO Capital Markets
Note: Includes precious metals, converted to AuEq grade using LT pricing of US$1,250/oz Au and US$18.00/oz Ag when not converted by the company.
(1)
(2)
(3)
WHAT STANDS US APART? Aurora is a High Grade Gold Mine
3.4
2.9
2.7
2.3 2.2
1.7
1.5 1.3 1.3 1.2 1.0 1.0
0.8 0.7 0.7 0.6
0.4
Median: 1.3 g/t
SEMAFO
Guyana
Torex
Alacer
Primero
Alamos
OceanaGold
B2Gold
IAMGOLD
Eldorado
Tahoe
Detour
New Gold
Kinross
Centerra
Silver Standard
Yamana

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2016 HIGHLIGHTS: An Impressive Start
2016 Q4 2016 Q3 2016 Q2 2016 Q1 2016
2016 Guidance ounces 140,000 - 160,000
Gold Sold ounces 156,000 45,500 33,300 36,600 40,500
Gold Produced ounces 151,600 43,800 34,400 32,000 41,300
Average Realized Gold
Price
US$/ounce 1,245 1,204 1,334 1,269 1,196
Gross Revenue US$ mlns 194.2 54.8 44.4 46.4 48.5
Ore mined tonnes 2,507,200 688,000 642,200 623,400 553,600
Waste mined tonnes 5,700,900 1,899,800 1,315,100 1,076,700 1,409,300
Total Mined tonnes 8,208,000 2,587,800 1,957,300 1,700,100 1,962,900
Strip ratio waste:ore 2.3 2.8 2.0 1.7 2.5
Tonnes mined per day tpd 22,400 28,100 21,300 18,700 21,600
Ore processed tonnes 1,889,000 507,500 491,200 427,700 462,600
Tonnes processed per day tpd 5,200 5,500 5,300 4,700 5,100
Head grade g/t Au 2.74 2.94 2.42 2.61 3.07
Recovery % 90.2 90.6 88.7 91.1 89.2
Achieved upwardly revised production guidance in first year of commercial production !

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1. This is a non-GAAP measure. Refer to non-GAAP Performance Measures section in the latest MD&A.
6
2017 Guidance
• Due to mine sequencing gold production is expected to be slightly higher in the
second half of the year relative to the first half.
• Due to the timing of sustaining capital expenditures, all-in sustaining costs¹ are
expected to be higher in the first half of the year relative to the second half.
2017 Guidance (@ $1,200/oz)
Gold production (000’s ounces) 160 - 180
Cost of sales (production costs, royalty and
depreciation) ($ per ounce)
$800 - $850
Cash cost¹, excluding royalty ($ per ounce) $500 - $550
All-in sustaining1 (“AISC”) ($ per ounce) $775 - $825

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RORY’S KNOLL OPEN PIT
Photo taken August 31, 2016

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 PEA on economic assessment expected to be released early 2017Sulphur Rose
 Results expected to be released in January 2017Mill Expansion
Results
 Results expected to be released in January 2017Revised Ore
Reserve
UPCOMING CATALYSTS
 Program currently being ramped up significantlyExploration

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RESERVE / RESOURCE GROWTH:
1. Further Infill Drilling:
• Goal of upgrading of near-surface inferred resources
• Between Northwest Aleck Hill and Mad Kiss to test continuity of mineralized zones
2. Saprolite targets near the Aurora Mill within trucking distance
3. Revised Ore Reserve Metal Price:
• Current reserves run at US$1,000 gold price (Jan 2016)
• With Aurora’s high grade nature, a higher gold price materially increases open pit ounces & defers
the underground mine plan
• Updated ore reserve at a higher gold price expected January 2017
RESERVE/RESOURCE GROWTH POTENTIAL:
Within the “Golden Square Mile” of the Aurora Mine

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ORGANIC GROWTH POTENTIAL:
Further Infill Drilling Targeted Within The “Golden Square Mile”

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GUIANA SHIELD: Known Gold Region

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CUYUNI BASIN: A TRUE MINING DISTRICT: Looking for Mine #2
• 1 Operating Gold Mine
• 1 Sulphur Rose Discovery
• Multiple near-mine saprolite targets
• 1,200 square km land package
• Long history of artisanal mining
• Highly prospective greenstone belt
Looking for Mine #2

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BROWNFIELDS EXPLORATION:
Powis Hill, Gold Creek, Marupa & Iroma
Brownfields Exploration
• Near Mine Saprolite Targets:
• Powis Hill
• Gold Creek
• Gold Creek Laterite Target
• Aurora shear intersecting laterite
ridges. Anomalous gold in creeks
• Marupa West:
• Anomalous soils on intrusive target
• Iroma:
• Largest geochem anomaly
• Initial drilling planned early 2017

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SULPHUR ROSE: A Mine In the Making
• 23 km from Aurora Mine in a straight line
• Multiple I.P survey targets identified
• Follow-up drilling to be completed after I.P
Sulphur Rose

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GREENFIELDS EXPLORATION: Wynamu
• Quartz vein
stockwork
• Previous access
with helicopter
support
• Newly constructed
road now available
allowing for cost
effective access
• Drill ready

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APPENDIX

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Symbol: TSX: GUY
Total Shares Outstanding 171,148,473
Options 8,256,507
Warrants 0
52 week: Hi/Lo C$10.35 / C$3.24
Market Cap (at C$ 6.25) C$1,067 million
Cash Balance (Dec 31, 2016) US$70 million
Debt (Dec 31, 2016) US$80 million
Top 10 Shareholders Shares %
Van Eck 27.4M 16.0%
The Baupost Group 20.6M 12.0%
Franklin Resources (Templeton) 8.6M 5.0%
Rafferty Asset Management 8.3M 4.9%
Patrick Sheridan Jr. (Founder) 6.0M 3.5%
Sun Valley Gold 4.9M 2.9%
Fidelity Investments 4.5M 2.6%
Fiera Capital 4.3M 2.5%
Manulife 3.4M 2.0%
Oppenheimer 3.2M 1.8%
CORPORATE SNAPSHOT

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0
500
1,000
1,500
2,000
2,500
3,000
3,500
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Thousand Tonnes Per Year
Years
UG FRESH DF OP SAP S/P
OP FRESH S/P OP FRESH DF
OP SAP DF
LOM ORE MILLED
Source: January 2016 NI-43 101 Technical Report

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 Guyana is the only English speaking country in South America
 British common law and secure tenure - part of the Commonwealth
 Democratically elected government under parliamentary system
 Long history of significant gold production:
 Gold was the largest export of the country
 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
MINING FRIENDLY JURISDICTION & GOVERNMENT

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Road Access to
Aurora
LOGISTICS & INFRASTRUCTURE

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Focus on health and safety of our employees, the well-being of our
community and the protection of the natural environment
Hiring in the region, giving priority to local communities:
 523 full-time employees
 96% are Guyanese nationals
 Scholarship and job/skills training
Supporting local communities
 Local sourcing of goods and services
 Business opportunities
 Participation in municipal development
 Sustainable development initiatives in community
CSR AND SUSTAINABLE DEVELOPMENT

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SIMPLE METALLURGY

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Gold Price $1,000/oz Quantity (kt) Grade (g/t) Contained Gold (koz)
Proven Reserves
O/P Saprolite 18 3.10 2
O/P Fresh 4,939 3.12 495
Stockpile 120 1.73 7
Total Proven 5,077 3.09 504
Probable Reserves
O/P Saprolite 3,265 1.98 208
O/P Fresh 8,963 2.88 829
U/G 14,904 3.13 1,502
Total Probable 27,132 2.91 2,539
Total P & P Reserves¹ 32,208 2.94 3,042
Gold Price $1,300/oz Quantity (kt) Grade (g/t) Contained Gold (koz)
Measured & Indicated Resources
O/P 32,500 2.64 2,750
U/G 30,060 3.91 3,780
Total M&I Resources 62,560 3.25 6,530
Inferred Resource
O/P 5,080 1.54 250
U/G 11,810 4.12 1,560
Total Inferred Resource 16,890 3.33 1,810
Mineral resources that are not
mineral reserves do not have
demonstrated economic
viability. The cut-off grades for
open pit are 0.5 g/t Au and 1.2
g/t Au for underground. Mineral
resources were calculated
using a gold price of
US$1,300/oz.
(1) CIM definitions were followed for
Mineral Reserves.
(2) Mineral Reserves are estimated
using a gold price of US$1,000/oz,
5% royalty and an average
metallurgical recovery of 97.0% for
saprolite and 94.4% for fresh rock
material.
(3) Mineral Reserves are based on a
cut-off grade of:
Open Pit Vein saprolite cut-off grade
of 0.43 g/t Au - Upper saprolite cut-off
grade of 0.41 g/t Au
Open Pit Fresh rock cut-off grade of
0.75 g/t Au - Fresh rock Rory’s Knoll
cut-off grade of 0.64 g/t Au
Underground 1.62 g/t Au.
(4) Mineral Reserves include:
Open pit: ore loss of 5% and dilution
of 4% to 23% at 0.1 g/t Au.
Underground: ore loss of 12% and
dilution of 21% at 1.43 g/t Au.
(5) Totals may not add due to
rounding
MINERAL RESERVES & RESOURCES

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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 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
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.
GEOLOGY

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BOARD & SENIOR OFFICERS
Alan Ferry
Lead Director
 Geologist that has been Involved in the investment industry for over 28 years as a mining
analyst and a mining corporate finance specialist.
Patrick Sheridan Jr.
Founder, Executive
Chairman and Director
 Over 25 years of experience in the mining industry
 Has actively explored in Guyana since 1996 and is the founder of Guyana Goldfields and lead the
discovery of the Aurora and Sulphur Rose deposits
Scott A. Caldwell
President & CEO
and Director
 Mining engineer with 30+ years experience building and operating gold and base metal mines worldwide
 Former President, CEO and Director of Allied Nevada Gold Corp. from 2006 - 2013
Michael Richings
Director
 40+ years of development and operational experience in the resource sector. Mr. Richings is currently
the Chairman of the Board for Vista Gold, where he also served as CEO from 2007 to 2012
Rene Marion
Director
 25+ years of diversified management and senior technical experience with resource industry expertise in
operations, mineral exploration, and mine development, along with a successful history of corporate
development.
Wendy Kei
Director
 Chartered Professional Accountant and previously served as CFO of Dominion Diamond Corporation
(formerly Harry Winston).
Jean-Pierre Chauvin
Director
 40+ years of combined experience in mining operations and construction management.
David Beatty
Director
 25+ years of financial capital markets and resource management experience.
Daniel Noone
Director and
VP, Exploration
 Over 25 years of experience of international mineral exploration and development
 Former VP of Peru for Aquiline Resources
Paul J. Murphy
Executive VP,
Finance & CFO
 Over 40 years of financial experience and former Head of PricewaterhouseCoopers LLP Western’s
World Mining Practice

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Scientific and Technical Information
The qualified person for the mineral resource and reserve estimates and other scientific and technical information herein are as follows:
Scott Wilson, CPG, Glen Cole, P.Geo. Jarek Jakubek, C.Eng., John Lambert, P.Geo., D Erik Spiller, MMSA and Richard Tocher, P.E,
(the “QPs”) who are independent of the Company and have approved the contents of this presentation. The qualified person for the other
scientific and technical information in this presentation, is Daniel Noone, BApSci (Geo), MBA, and has approved the contents of this
presentation.
Technical and scientific information contained herein, including the mineral resource and reserve estimates relating to the Aurora Gold
Project is derived from the “AGM Inc. Aurora Gold Project - Updated Feasibility Study” dated January 18, 2016 (the “Technical Report”).
We have filed the Technical Report under our profile at www.sedar.com. For details of the data verification procedures employed by the
QPs and the key assumptions, parameters and methods used to estimate the mineral resource and mineral reserve estimates, please
see the Technical Report. For information about known legal, political, environmental, or other risks that could materially affect the
potential development of the mineral resources or mineral reserves, please see the Technical Report.
Securities Laws
This presentation does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such
would be prohibited. This presentation is not an offer to sell, or a solicitation of an offer to purchase, any securities in the United States.
The securities referred to in this presentation will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in
the United States except pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933 and applicable
state securities laws.
The information contained in this presentation does not and is not intended to constitute a "valuation," "formal valuation," "appraisal,"
"prior valuation," or a "report, statement or opinion of an expert" for purposes of any securities legislation in Canada or otherwise.
Currency
Unless otherwise indicated, all dollar values herein are in United States dollars.
SCIENTIFIC, TECHNICAL AND SECURITIES INFORMATION

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Jacqueline Wagenaar
VP, IR & Corporate Communications
Tel: (416) 628 5936 x.5295
Email: jwagenaar@guygold.com