2. www.guygold.com 2
Forward Looking Statement
TSX : GUY
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 includes are 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, 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.
3. www.guygold.com 3
Corporate Snapshot
Symbol: TSX: GUY
Basic Shares Issued 126,125,149
Options 7,975,058
Warrants 0
Fully-diluted shares 134,100,207
52 week: Hi/Lo C$4.40 / C$1.52
Market Cap (at C$ 1.70) C$214 million
Cash Position (April 30, 2013) C$122 million
Debt $0
TSX : GUY
Top 15 Shareholders Shares %
The Baupost Group 24.9M 20.0%
Franklin Resources (Templeton) 13.5M 11.0%
Van Eck 8.0M 6.3%
IFC (World Bank Group) 6.9M 5.5%
Patrick Sheridan Jr. (Founder/CEO) 6.6M 5.2%
Jennison 4.6M 3.7%
Fidelity Investments 4.1M 3.3%
First Eagle Investments 4.0M 3.2%
AMG Analysen 2.7M 2.2%
Carmignac 2.5M 2.0%
Sprott Asset Mgmt 1.5M 1.2%
Altus 1.5M 1.2%
Gold 2000 1.1M 0.8%
Raiffeisen Kapitalanlage-Gesellschaft 1.0M 0.8%
TD Asset Mgmt 0.8M 0.6%
Current value per ounce = C$33
4. www.guygold.com 4
Executive Summary
TSX : GUY
Robust Economics
Life of mine production of 3.3Moz at average cash costs of $527/oz (royalty included), in lower
quartile range
After-tax NPV of $800M and IRR of 38% at $1,300/oz gold and 5% DR
Payback of just over 3 years at $1,300/oz gold
Experienced Management
Team
Management focused on advancing project to production
Project team expanding, EPCM/EPC Contracts in discussion
Staged Approach
Minimizes Capital
Upfront capex of $205M (50% already raised) to build open pit and a 5,000 tpd mill, with
underground development and mill expansion to 10,000 tpd funded by operating cash flows.
Simple Mine Plan Infrastructure build is already in progress; On track for initial production by Q1 2015
Mining &
Metallurgy
Open Pit Compact design and low strip ratio
Underground Sublevel retreat method offers significantly low opex costs
Simple
Metallurgy
Free milling gold ore with excellent gold recovery of +94%
Mining Friendly Jurisdiction Aurora is fully licensed and permitted
Growth Potential
Extensive additional mineralization at depth beyond current mine plan and potential expansion of
open pits
Unexplored 400,000+ acres land package
5. www.guygold.com 5
Robust Economics
TSX : GUY
Financials @ 5% Discount Rate
Jan 2013
43-101 Feasibility Study
Gold Price Base Case ($/oz) 1,300
Mine Life 17 yrs
Initial Production Start Date Q1 2015
Average Mill Throughput (tpd) 5,000/10,000
Mine Depth (metres) 1,037 (970mbsl)
Strip Ratio (waste:ore) 4.7:1
Average Gold Grade (g/t) 2.74
Gold Recovery (%) 97(sap) 94.4(fresh)
Total Gold Production (Moz) 3.29
Avg Operating Cash Cost w/Royalty LOM ($/oz) 527
Initial Capital Expenditure ($M) 205
Pre-Tax NPV ($M) 1,119
Pre-Tax IRR (%) 44
Pre-Tax Payback (years) 3.1
6. www.guygold.com 6
Robust Economics (Cont’d)
TSX : GUY
Financials @ 5% Discount Rate Units
$1,000/oz
gold price*
$1,300/oz
gold price
(base case)
$1,470/oz
gold price**
$2,000/oz
gold price
Average Operating Cash Cost (LOM) $/oz 423 423 423 423
Average Operating Cash Cost w/Royalty (LOM) $/oz 473 527 540 583
Pre-Tax NPV $M 593 1,119 1,453 2,495
After-Tax NPV $M 429 800 1,034 1,764
After-Tax IRR % 25 38 45 65
Payback (After-Tax) Years 4.6 3.4 2.3 1.5
*Royalty decreases from 8% to 5% at gold prices at and below US$1,000/oz
**3 year trailing average at November 30, 2012
After-Tax NPV ($M) After-Tax IRR (%)
Sensitivity
Analysis
Base
Case
80% 90% 100% 110% 120%
Gold Price 800 439 620 800 979 1,158
Opex 800 924 862 800 737 675
Capex 800 910 855 800 744 689
Sensitivity
Analysis
Base
Case
80% 90% 100% 110% 120%
Gold Price 38% 26% 32% 38% 44% 49%
Opex 38% 42% 40% 38% 36% 34%
Capex 38% 49% 43% 38% 34% 30%
Leverage to
gold price,
but insulated
against
inflation
8. TSX : GUY www.guygold.com 8
Mining Friendly Jurisdiction & Government
Aurora is fully licensed and permitted
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 in 2012 with 438,635 oz
Mining License Received and Mineral Agreement Signed (Nov.18/11):
Royalty:
5%: Gold price $1,000/oz or less
8%: Gold price $1,000/oz +
Corporate income tax:
30% with no withholding tax on interest payments
9. TSX : GUY www.guygold.com 9
Logistics & Infrastructure
Road
Access to
Aurora
10. www.guygold.com 10TSX : GUY
Experienced Management Team
Management BACKGROUND
Patrick Sheridan Jr.
CEO and Director
Over 20 years of experience in the mining industry
Has actively explored in Guyana since 1996 and is the
founder of Guyana Goldfields and lead the discovery
of the Aurora and Sulphur Rose deposits
Holds a B.Sc. And M.Sc. From the London School of
Economics, United Kingdom
Paul J. Murphy
Executive VP, Finance
and CFO
Over 40 years of financial experience and former
Head of PricewaterhouseCoopers LLP Western’s
World Mining Practice
Management BACKGROUND
Dan Noone
VP, Explorations
Over 20 years of experience of international mineral
exploration and development
Former VP of Peru for Aquiline Resources
St. John Lees
VP, Projects
Formerly responsible for overseeing the engineering,
procurement and construction management for the
infrastructure component of Rio Tinto Iron Ore
Atlantic’s Simandou Project
Violet Smith
Country Manager
Over 20 years of experience in operations
management and has been involved with Guyana
Goldfields since its inception
Alexander Po
Exploration Manager
Mining engineer and exploration geologist with
strong management experience with projects in a
numbers of different countries
Jacqueline Wagenaar
VP, Investor Relations &
Corporate
Communications
Significant experience with investor relations
programs for several Canadian mining companies
with international assets
11. www.guygold.com 11
Staged Approach Minimizes Capital
TSX : GUY
Capital Expenditures (US$M)
Initial Capital
(2013 – 2014)
Expansion Capital
(2015 – 2017)
Sustaining Capital
(2018 – 2031)
Mine Equipment Fleet $13 $11 $10
General Mobile Equipment $2 - -
Ore Crushing and Handling $18 $2 -
Process Facility $49 $19 $18
On-Site Infrastructure $25 $12 -
Ancillary Buildings $8 $1 -
Tailings & Reclamation $5 $3 $3
Off-Site Infrastructure $12 - -
Indirect Costs (inclusive of EPCM) $36 $7 -
Owner's Cost $18 $1 -
Underground Development - $82 $275
Contingency $19 $15 $41
Closure Costs - - $9
Total Capital $205 $153 $356
Capital required up to
Commercial Production
Funded from Cash Flow
12. www.guygold.com 12TSX : GUY
0
50
100
150
200
250
300
350
400
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
ProductionOunces(000)
Production Year
Contained Gold
Underground
Open Pit
Saprolite
Stockpile Reclaim (Sap & Fresh)
Evaluation of including known resources outside
current mine plan to offset excess milling capacity
3.3 Moz Total Gold Recovered with Average Annual Gold Production (LOM) of 194 Kozs
Simple Mine Plan
Average of 231kozs/yr
Peak at 350koz
13. www.guygold.com 13TSX : GUY
Cash Flow Profile
Units Years 1-5 Years 6-10 Life Of Mine
Operating costs¹ $/oz 306 380 423
Royalty² $/oz 104 104 104
Corporate Taxes $/oz 84 199 154
Development Capital $/oz 142 - 39
Corporate G&A $/oz 26 17 24
Exploration³ $/oz 17 11 16
Sustaining $/oz 104 103 113
All-In Cash Costs $/oz 783 814 873
Ounces Produced oz 903,000 1,405,000 3,288,000
Free Cash Flow $M 466.9 682.8 1,404.0
¹ Operating costs include mining and processing costs
² Assumes US$1,300/oz gold price
³ Assumes expense of $3M/yr
16. www.guygold.com 16
Operating Costs (LOM)
TSX : GUY
Operating Expenses
Jan 2013
43-101
Feasibility Study
Open Pit cost per tonne $2.42
Open Pit strip ratio (waste:ore) 4.7:1
Mining cost per tonne to the mill $13.68
Underground cost per tonne $19.28
Processing cost per tonne $13.78
G&A cost per tonne $3.83
17. www.guygold.com 17
Simple Mine Plan
TSX : GUY
Measured
Indicated
Inferred
Open pit mining begins at
~5,000 tpd in Rory’s Knoll
and is completed in two
years
Rory’s Knoll underground
follows at ~5,000 tpd
while the satellite pits are
mined concurrently also
at ~5,000 tpd
Once satellite pits are
exhausted, Rory’s Knoll
underground continues
for an additional 8 years
[2018-2023] [2018-2023]
[O/P: 2015-2017]
[U/G: 2018-2031]
[2018-2022]
[2023]
Rory’s
Knoll
Walcott HillAleck Hill
North
Aleck Hill
Mad Kiss
19. www.guygold.com 19
Proven Underground Mining Method
TSX : GUY
2 years of development (2016-2017)
Good ore recovery since no crown pillar is required
Simple extraction sequence
Detailed hydrogeological and geotechnical studies show minimal
surface subsidence and manageable water inflows
Sublevel Retreat Mining
-970m (bsl)
-970m
20. www.guygold.com 20
Proven Underground Mining Method
TSX : GUY
Open Benching and SLR Mines
• Finch Mine, South Africa
• Koffiefontain, South Africa
• Ekati Mine, NWT
• Diavik Mine, NWT
SLC Mines
• Stobie Mine, Ontario
• Granduc Mine, B.C.
• Craigmont Mine, B.C.
• Ekati Mine, NWT
• Kiruna Mine, Finland
• Ridgeway Mine, Australia
• Telfer Mine, Australia
• Perseverance Mine, Australia
• Big Bell Mine, Australia
• Harmony Mine, Australia
• Mt Lyall, Australia
• Numerous mines in China and RussiaDiavik Diamond Mine, NW Territories
Ekati Diamond Mine, NW Territories
Finch Mine, South Africa
21. TSX : GUY www.guygold.com 21
Simple Metallurgy
22. TSX : GUY www.guygold.com 22
Effective Water Management – River Dike
2 river dikes, 1.5 km length in total
60 metres wide and 9 metres high
Dike is engineered to 10,000 year flood event
River is 225 metres away from the pit
23. TSX : GUY www.guygold.com 23
Ongoing Construction Work
Detailed engineering contract for early works awarded to Tetra Tech
Includes construction drawings for the tailings storage facility,
river dike, and water diversion dams.
Ongoing Discussions with various potential consultants and
contractors for EPCM or EPC contracts
Contract(s) to be awarded Q2 2013
On and off-site early works construction activities remain on
schedule on such items as road works, camp construction, Buckhall
port development, etc
24. Activity
2013 2014
2015 2016 2017 2018 2019 2020 2021 2022 2023
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Debt Financing
Early works engineering &
construction
Final Design & Construction
Open Pit Production
Underground Development
Underground Production
Exploration
www.guygold.com 24
Accelerated Timeline to Production
TSX : GUY
25. www.guygold.com 25
Growth Potential – Resource Upside
TSX : GUY
Room to grow outside current mine plan:
Below Satellite pits (Aleck Hill, Mad Kiss
and Walcott Hill):
Indicated: 570,000 oz Au at 3.93 g/t
Inferred: 290,000 oz Au at 4.11 g/t
Below -970m at Rory’s Knoll:
Indicated: 1,120,000 oz Au at 3.87 g/t
Inferred: 1,280,000 oz Au at 4.25 g/t
Excess mill and equipment capacity later in
the mine life (year 2024 and beyond) allows
for throughput flexibility
26. www.guygold.com 26
N-1 Trench: 1.41 g/t Au over 52 m,
incl 1.80 g/t over 32 m and 4.34 g/t
Au over 12 m
N-1 Hole: 4.35 g/t Au over 20 m
incl 6.42 g/t Au over 13 m
S-3 Trench: 11 g/t Au over 22 m
TSX : GUY
Exploration
Initial $2.8M Exploration
Budget composed of soil,
stream sediment
sampling and trenching
Material results followed
up with drilling and
increased resources
Results to date:
277, 780 oz Au Inferred
289,250 Au Indicated
27. 320
319
307
250
194
175
173
156
155
143
94
94
BeloSun
Romarco
Torex
Continental
Guyana
Goldfields
Lydian
Rubicon
Orezone
Colossus
Sullliden
Gryphon
Aureus
$1.4
$1.4
$1.0
$1.0
$0.8
$0.8
$0.6
$0.5
$0.4
$0.4
$0.2
$0.1
n.a. 32% n.a. 24% 38% 16% 50% 23% n.a. 18% 47% 30%
Continental
Romarco
Colossus
Torex
Guyana
Goldfields
BeloSun
Rubicon
Lydian
Sullliden
Orezone
Gryphon
Aureus
LOM Average Production (Kozs) LOM Cash Cost ($/oz)
Development Capital (US$M) US$1,300 Flat Gold Project 5% After Tax NPV (US$B)
Project IRR (%)
$318
$419
$458
$487
$494
$527
$549
$567
$575
$686
$695
$797
Colossus
Romarco
Continental
Lydian
Torex
Guyana
Goldfields
Sullliden
Rubicon
BeloSun
Gryphon
Aureus
Orezone
$75
$132
$160
$165
$205
$221
$300
$307
$361
$500
$705
$725
Colossus
Sullliden
Gryphon
Aureus
Guyana
Goldfields
Rubicon
Continental
Lydian
Romarco
Orezone
BeloSun
Torex
Source: Guyana Goldfields NI 43-101 Feasibility Study, BMO CM Equity Research and select Street Research for peers Source: Guyana Goldfields NI 43-101 Feasibility Study, BMO CM Equity Research and select Street Research for peers
Note: Cash costs based on a US$1,300 flat gold price (except CNL, CSI and SUE)
Source: Guyana Goldfields NI 43-101 Feasibility Study, BMO CM Equity Research and select Street Research for peers Source: Guyana Goldfields NI 43-101 Feasibility Study, BMO CM Equity Research and select Street Research for peers
Note: Project after tax NPVs and IRRs based on a US$1,300 flat gold price and 5% discount rate (except CNL, CSI and SUE)
27
Attractive Positioning vs. Comparables
www.guygold.comTSX : GUY
28. Guyana Goldfields
Belo Sun
Aureus
Lydian
Gryphon
Romarco
Rubicon
Torex
Continental
Sulliden
5.0 10.0
--
50%
100%
150%
200%
250%
300%
350%
400%
-- 1.0 2.0 3.0 4.0 5.0 6.0
UnfundedDevelopmentCapex/MarketCap(%)
Resource Grade (g/t Au)
R&R (mm oz Au) Bubble Size
Open Pit
Underground / Open Pit
Underground
Orezone
Source: BMO CM Equity Research, company filings and select Street Research for peers
1. Gold only resource grade shown.
2. Size of bubble indicates total reserves and resources (Au only).
Lower
Financing
Risk
Higher
Financing
Risk
(2)
(1)
(9.8 g/t)
(16.5 g/t)
28
Attractive Positioning – Highly Financeable
www.guygold.comTSX : GUY
29. TSX : GUY www.guygold.com 29
After tax NPV $800M, IRR of 38%, 3 yr payback
Staged approach minimizing capital
6.5M oz M&I and 1.82M oz Inferred @ +3g/t Au
Fully functional road access in place
Fully licensed and permitted
Already progressing
Extensive mineralization beyond current plan
Management
Region
Country (government and community)
Sustainability
Exploration Upside
Focused on advancing project to production
Guiana Shield – known gold region
Pro-mining, excellent relations
International standards with IFC
Unexplored land package of 400,000 acres
Aurora Gold Project
Robust Economics
Open Pit & Underground Mining
Resource and Grade
Key Infrastructure
Permitting
Development
Growth Potential
Summary
31. www.guygold.com 31
Mineral Reserves & Resources
TSX : GUY
Gold Price $1,300/oz Quantity (Mt) Grade (g/t) Contained Gold
(Moz)
Proven Reserves
O/P Saprolite 0.168 2.64 0.014
O/P Fresh 2.207 3.07 0.218
Total Proven 2.375 3.04 0.232
Probable Reserves
O/P Saprolite 4.955 1.70 0.270
O/P Fresh 6.343 3.03 0.618
U/G 25.851 2.84 2.357
Total Probable 37.219 2.72 3.245
Total P & P Reserves¹ 39.524 2.74 3.477
¹ Mineral reserves included in mineral resources.
Underground in-situ cut-off grade of 1.2 g/t for Rory's Knoll. Open pit fresh ore in-situ cut-off grade of 0.5 g/t for all deposits. Open pit
saprolite ore in-situ cut-off of 0.3 g/t for all deposits.
Measured & Indicated Resources
O/P 32.77 2.62 2.76
U/G 30.06 3.91 3.78
Total M&I Resources 62.83 3.24 6.54
Inferred Resource
O/P 5.12 1.54 0.25
U/G 11.81 4.12 1.56
Total Inferred Resource 16.93 3.34 1.82
32. www.guygold.com 32
Scientific, Technical and Securities Information
TSX : GUY
Scientific and Technical Information
The qualified person for the mineral resource and reserve estimates and other scientific and technical information herein are as follows: 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 “Updated Feasibility Study, Aurora Gold Project, Guyana, South America” dated January 29, 2013 (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.
