This document provides an overview of Guyana Goldfields Inc., a gold mining company with operations in Guyana. Some key points: - Guyana Goldfields operates the high-grade Aurora gold mine in Guyana, which has over 16 years of reserve life and exploration potential across its 200,000-acre land package. - In 2018, production guidance was revised down to 150,000-155,000 ounces due to lower than expected head grades, and the company has engaged an independent firm to review the resource model. - The company has a strong balance sheet with $93 million in cash and $45 million in debt as of September 2018. - Management changes and a mill expansion are expected

1. October 2018
A SCARCE ASSET IN A TRUE
MINING DISTRICT

2. www.guygold.com 2
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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 High grade Au producer with +16 years reserve life with upside
 +200,000 acre land package in highly prospective & underexplored greenstone belt
A Scarce Asset
 Cash position of US$93M vs. debt of US$45M as at Sept 30, 2018Strong Balance
Sheet
 Management changes: Rene Marion new Non-Executive Chairman & realignment of
organizational structure
 Phase 2 mill expansion on schedule for Q4 completion
 Mining rate showing Open pit contractor mobilized
Operational
Enhancements
 P/NAV multiple of 0.4x versus peer medium producer average of 1.0x
 GDX Index rebalance has resulted in significant multiple compression
Value Proposition
INVESTMENT HIGHLIGHTS

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2.9 2.9
2.7
1.7
1.4 1.3 1.3
1.0 1.0 0.9 0.9 0.8
0.7 0.7 0.6
0.4
Guyana Torex SEMAFO Alacer OceanaGold IAMGOLD Alamos B2Gold Detour Eldorado SSR Mining New Gold Kinross Yamana Tahoe Centerra
Gold Equivalent Grade (g/t Au Eq.)
4
Aurora is a High Grade Gold Mine
Source: Company filings
Note: Gold equivalent grade shown for total reserves and resources (precious metals only).

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Revised 2018 Guidance
2018 Guidance
Gold production 150,000-155,000
Cost of sales (production costs, royalty and depreciation) $1,030-1,055/oz
All-in sustaining cost¹ (“AISC”) $1,025-1,050/oz
Cash cost¹, excluding royalty $660-685/oz
(1) This is a non-IFRS measure. Refer to non-IFRS Performance Measures section in the latest MD&A
• Average head grade has been slightly lower than anticipated. Since production commenced in 2016, ore
sourced from the Rory’s Knoll diorite has reconciled well with the reserves. Previous Guidance assumed
that the average grade would rebound to +3 g/t Au throughout the current quarter, however, based on
results to date, that no longer appears likely. Management believes the recent underperformance can be
attributed to grade variability not captured in the model.
• The Company has initiated a review of the underlying resource model. The Company has engaged RPA
Inc., an independent firm of engineers and geologists, to assist in the investigation of the geologic controls
and grade variability of the deposit. The Company expects the results from this review to be incorporated
in the annual reserve and resource update to be disclosed in the first quarter of 2019.

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Value Proposition
Source: Company Reports, Street Research
($300.0)
($250.0)
($200.0)
($150.0)
($100.0)
($50.0)
‐‐
$50.0
$100.0
PG GUY ROXG TGZ AKG AR ALO SMF TMR LMC ASR TXG
(US$ mlns)
Net Cash Position as at Sept 30,2018

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Value Proposition
Source: Company Reports, Street Research
‐‐
0.1x
0.2x
0.3x
0.4x
0.5x
0.6x
0.7x
0.8x
0.9x
1.0x
SMF TXG TGZ ROXG ASR AKG PG AR TMR GUY LMC ALO
(P/NAV ratio)
Street Consensus P/NAV

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0
200
400
600
800
1,000
1,200
0
50
100
150
200
250
300
350
2017 2018E 2019E 2020E 2021E 2022E
Costs (US$/oz)
Recovered Oz
Gold Recovered / Costs
Underground Open Pit Operating Cash Cost AISC
8
Lucrative Growth Profile
(1) Revised 2018 Guidance of 150‐155koz
(2) Gold Production of 107,700 ounces as at Sept 30, 2018.
(1)(2)
107koz
YTD

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SITE LAYOUT: Aurora Gold Mine
Rory’s Knoll
Walcott Hill
Mad Kiss
Aleck Hill
North Aleck Hill

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RORY’S KNOLL

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PROPERTIES

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Brownfields Exploration: Resource Growth Potential
Source: JDS, 2018
Open laterally
and at Depth

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Brownfields Exploration: Resource Additions at East Walcott
EWD099: 20m at 4.79g/t Au from 356m
EWD094: 23m @ 6.80g/t Au from 102m
‐150mRL
0mRL
‐300mRL
‐450mRL
RORY’S KNOLL
(Resource Extends to ‐
2000mRL)
EAST WALCOTT
(Open at Depth)
EWD‐27: 48m at 3.71g/t Au from 366m
EWD094: 21.4m @ 10.85g/t Au from 130.35m
EWD094: 44.8m at 9.09g/t Au from 205.4m
EWD095: 35.25m at 5.84g/t Au from 213.25m
EWD097: 12.7m at 6.33g/t Au from 141m
EWD099: 21.2m at 4.21g/t Au from 291m
EWD099: 14.2m at 3g/t Au from 378.8m
RKD‐51: 56m at 5.5g/t Au from 379m
EWD‐12: 37m at 7.49g/t Au from 300m
EWD‐60: 43m at 6.66g/t Au from 222m
EWD‐19: 7.35m at 12.77g/t Au from 124m
EWD‐19: 20.05m at 9.94g/t Au from 134.95m
Rory’s Knoll
Deposit
Interpreted High
Grade Ore
Shoots – East
Walcott
Historical
Exploration
Drilling
Intersections
2018 East Walcott
Drilling Program
Current Open Pit
Extent
Meters
0 150

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Brownfields Exploration: Resource Additions at East Walcott
Meters
0 500
0mRL
‐500mRL
‐1000mRL
‐1500mRL
‐2000mRL
Current extent of
exploration drilling
in East Walcott
Approximate extent
of current LOM Plan
for Rory’s Knoll
SIGNIFICANT EXPLORATION
POTENTIAL DOWN‐PLUNGE
OF ORE SHOOTS
Rory’s Knoll
Deposit
Interpreted High
Grade Ore
Shoots – East
Walcott
Current Open
Pit Extent
EAST WALCOTT
(Open at Depth)
RORY’S KNOLL
(Resource Extends to ‐
2000mRL)

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APPENDIX

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Capital Structure
Total Shares Outstanding 173,530,802
Options 6,052,511
Warrants 0
52 week: Hi/Lo C$5.42 / C$2.74
Market Cap (at C$ 3.04) C$533 million
Cash Balance (Sept 30, 2018) US$93 million
Debt (Sept 30, 2018) US$45 million
Top 5 Shareholders Shares %
The Baupost Group 26.0M 15.0%
Van Eck 11.6M 6.7%
Wellington Management 11.2M 6.5%
CI Investments 9.7M 5.6%
Franklin Resources (Templeton) 9.2M 5.3%
CORPORATE SNAPSHOT
Shareholder Makeup
Insider Institutional Retail/other

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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:
 27.5% 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:
 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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MINERAL RESERVES
As at December 31, 2017
Category
Quantity
(kt)
Grade
(g/t Au)
Ounces
(k Oz)
Proven
OP Saprolite 108 0.73 3
OP Rock 4,569 2.75 404
Total Proven 4,677 2.70 406
Probable
OP Saprolite 2,291 1.77 130
OP Rock 12,959 2.81 1,172
UG Rock 23,120 3.04 2,262
Total Probable 38,370 2.89 3,565
Total P&P 43,047 2.87 3,971
1. The CIM definitions were followed for mineral reserves.
2. Mineral Reserves are based on a gold price of US$1,200 per ounce, an 8% royalty and an average
metallurgical recovery of 96.0% for saprolite and 94.0% for fresh rock material.
3. Open pit saprolite and rock reserves are reported at a cut-off grade of 0.44 g/t Au and 0.42 g/t Au
for vein and upper saprolite material respectively. Open pit rock reserves are reported at a cut-off
grade of 0.76 g/t Au and 0.64 g/t Au for vein and Rory’s Knoll rock material respectively.
4. Underground fresh rock reserves are reported at a cut-off grade of 1.5 g/t Au.
5. Mineral reserves are contained within mineral resources.
6. All figures have been rounded to reflect the relative accuracy of the estimates. Numbers may not
add due to rounding
7. The mineral reserve estimate was prepared by Tysen Hantelmann, P.Eng. and Gord Doerksen,
P.Eng of JDS Mining and both are a “qualified person” under National Instrument 43-101.

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MINERAL RESOURCES
As at December 31, 2017
Category
Quantity
(kt)
Grade
(g/t Au)
Ounces
(k Oz)
Measured
OP Saprolite 108 0.73 3
OP Rock 4,728 2.91 442
Total Measured 4,836 2.86 445
Indicated
OP Saprolite 1,404 0.93 42
OP Rock 20,901 2.60 1,747
UG Rock 30,060 3.91 3,780
Total Indicated 52,365 3.31 5,569
Total M + I 57,201 3.27 6,014
Inferred
OP Saprolite 1,939 0.91 57
OP Rock 2,581 1.93 161
UG Rock 11,810 4.12 1,560
Total Inferred 16,330 3.39 1,777
1. The CIM definitions were followed for mineral resources.
2. Mineral resources are inclusive of mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
3. All figures have been rounded to reflect the relative accuracy of the estimates. Number may not add due to rounding.
4. Open pit mineral resources are reported at a cut-off grade of 0.30 g/t for Saprolite and 0.40 g/t for Fresh rock respectively, and underground mineral resources are reported at a cut-off grade of 1.8 g/t. Cut-off
grades are based on a price of US$1,300 per ounce of gold and a gold recoveries of 97 percent for saprolite and 94.5 percent for fresh material.
5. Mineral resources have been adjusted using the 2017 EOY topography, to account for open pit mining to date, and include ore stockpile inventories as of EOY 2017.
6. The qualified person is not aware of any mining, metallurgical, infrastructure, permitting, or other factors that could materially affect the mineral resource estimates.
7. The mineral resource estimate for Rory’s Knoll was prepared under the supervision of Tim Maunula, of T. Maunula & Associates Consulting Ltd. Mr. Maunula is a “qualified person” under NI 43-101 and
is independent of the Company. The mineral resource estimate for the satellites was prepared under the supervision of Daniel Noone of Guyana Goldfields Inc. Mr. Noone is a “qualified person” under
National Instrument 43-101.

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Annual LOM Production Profile
Units
Total/
Avg
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
OPEN PIT MINING
Open Pit Ore ktonnes 19,022 2,579 3,078 1,553 2,317 1,976 1,098 820 684 1,039 1,096 957 822 684 320
Au Grade Mined gpt 2.74 2.62 2.90 2.89 2.80 2.74 3.09 2.61 2.86 2.03 2.93 2.44 1.78 3.99 2.20
Au Mined from Open Pit kounces 1,675 217 287 144 208 174 109 69 63 68 103 75 47 88 23
Open Pit Waste ktonnes 169,376 22,071 22,472 24,067 19,416 8,880 8,465 8,640 8,943 8,705 8,622 8,984 9,577 9,755 779
Open Pit Material Moved ktonnes 188,397 24,650 25,550 25,620 21,733 10,855 9,562 9,460 9,627 9,745 9,717 9,942 10,399 10,439 1,098
Strip Ratio 8.9 8.6 7.3 15.5 8.4 4.5 7.7 10.5 13.1 8.4 7.9 9.4 11.7 14.3 2.4
UNDERGROUND MINING
Ore Mined - Rory's Knoll ktonnes 20,537 347 554 1,332 1,506 1,714 1,725 1,714 1,720 1,738 1,707 1,704 1,748 1,677 1,349
Au Grade Mined gpt 2.92 4.76 4.24 3.85 2.93 2.88 3.25 3.43 3.05 2.50 2.38 2.34 2.31 2.69 2.74
Au Mined from Rory's Knoll
UG koz 1,925 53 76 165 142 159 180 189 169 140 131 128 130 145 119
Ore Mined - Satellites koz 2,583 140 420 562 285 67 165 181 209 205 205 144
Au Grade Mined gpt 4.06 3.41 4.98 3.66 3.23 2.97 4.72 4.64 3.90 4.07 3.77 4.93
Au Mined from Satellites
UG koz 337 15 67 66 30 6 25 27 26 27 25 23
Total Au Mined koz 3,937 217 302 265 350 368 257 227 243 257 272 240 205 242 179 170 142
PROCESSING
Tonnes Milled ktonnes 43,047 2,355 2,738 2,745 2,738 2,738 2,738 2,745 2,738 2,738 2,738 2,745 2,738 2,738 2,738 2,745 2,337
Throughput Rate tpd 7,400 6,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 6,400
Mill Feed Average Grade gpt 2.87 2.91 3.12 3.30 3.48 3.70 3.01 2.87 3.12 2.95 3.07 2.70 2.37 2.83 2.14 2.15 2.11
Recovery % 94.8% 92.1% 95.4% 95.6% 95.8% 96.1% 95.2% 95.0% 95.4% 95.1% 95.3% 94.6% 93.9% 94.9% 93.3% 93.3% 93.1%
Total Au Recovered kounces 3,767 203 262 278 294 313 252 240 262 247 258 226 196 236 176 177 148
Source: Optimized Life of Mine Plan – Press Release February 20, 2018

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Annual LOM Cost Profile
Units
Total/
Avg
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
FINANCIALS
Revenue $mlns 4,508 243 314 333 352 374 302 288 313 295 309 270 235 283 211 211 177
NSR Royalty (8%) $mlns 361 19 25 27 28 30 24 23 25 24 25 22 19 23 17 17 14
Site Operating Costs $mlns 1,989 92 100 118 141 121 126 129 130 135 137 138 139 146 119 113 108
Sustaining Capital $mlns 295 9 21 34 29 16 14 19 21 16 12 15 17 26 21 16 10
Deferred Stripping $mlns 138 36 28 37 11 5 2 4 6 - - 3 4 2 - - -
Expansion Capital $mlns
Mill Expansion $mlns 13 13 - - - - - - - - - - - - - - -
UG Mining $mlns 151 19 73 17 - - - - - - 20 21 - - - - -
Other $mlns 3 3 - - - - - - - - - - - - - - -
Total Capital Costs $mlns 599 79 122 88 41 20 16 22 27 16 32 40 21 28 21 16 10
Total Site Costs $mlns 2,950 190 247 232 210 171 166 174 182 175 193 200 178 196 157 147 132
AISC $mlns 3,002 170 188 229 223 185 180 188 196 188 187 192 191 210 171 160 145
Pre-tax Cash Flow $mlns 1,567 50 61 98 140 204 138 112 128 120 113 70 57 82 60 64 46
NPV (5%) (pre-tax) $mlns 1,142
Tax $mlns 348 1 7 6 24 50 33 30 35 33 32 20 14 23 14 16 11
NPV (5%) (after tax) $mlns 898
Operating Cash Cost¹ $/oz 531 455 385 425 483 389 501 540 498 551 532 614 710 618 679 645 732
Operating Cash Cost (incl
Royalty)¹ $/oz 627 551 481 521 579 485 597 636 594 647 628 710 806 714 775 740 828
AISC¹ $/oz 797 836 717 821 761 592 713 783 747 764 723 851 977 886 970 907 985
Source: Optimized Life of Mine Plan – Press Release February 20, 2018

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BOARD & SENIOR OFFICERS
Alan Ferry
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, 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 35+ 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
Non Executive
Chairman, 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.
Ron Stewart
SVP, Technical
Services & Corp. Dev
 30 years of international experience in exploration, project development, operations and capital markets
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 compilation of the Optimized LOM Plan was completed by Tysen Hantelmann, P.Eng. and Gord Doerksen, P.Eng of JDS Mining. By
virtue of their education, membership to a recognized professional association and relevant work experience, Tysen Hantelmann and
Gord Doerksen are independent Qualified Persons as defined by National Instrument 43-101 and have reviewed, approved and verified
the technical content of this news release.
The mineral reserve estimates were prepared under the supervision of Tysen Hantelmann, P.Eng. and Gord Doerksen, P.Eng of JDS
Mining. Mr. Hantelmann and Mr. Doerksen are a “qualified person” under NI 43-101 and is independent of the Company. The mineral
resource estimate for Rory’s Knoll was prepared under the supervision of Tim Maunula, of T. Maunula & Associates Consulting. Mr.
Maunula is a “qualified person” under NI 43-101 and is independent of the Company. The mineral resource estimates for the satellite
deposits was prepared under the supervision of Danial Noone of Guyana Goldfields Inc. Daniel Noone is a “qualified person” under
National Instrument 43-101 and has also reviewed the contents of this press release.
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