Mr. Scott Caldwell reports

GUYANA GOLDFIELDS INC. COMMENTS ON VENEZUELA BORDER DISPUTE

Guyana Goldfields Inc. has commented on recent developments regarding the Venezuela-Guyana border dispute as it recently received an unfounded notification of a possible legal claim from Venezuela.

The Venezuela-Guyana border dispute was resolved and agreed upon by all parties under the 1899 arbitration agreement, and any claims made outside of such agreement violate international law. The matter is currently before the United Nations; however, Venezuela's border claim is widely viewed by the international community to be without merit.