Mr. Locke Goldsmith reports

GUYANA GOLDSTRIKE CONTINUES WITH GOLD DISCOVERY: ASSAYS UP TO 5.98 G/T GOLD AT PAUNCH AREA, MARUDI GOLD PROJECT, GUYANA

Guyana Goldstrike Inc.'s geological team has completed trenching, mapping and sampling at the Paunch area on its Marudi gold project located in the Guiana gold belt, Guyana, South America.

Locke Goldsmith, PEng, PGeo, vice-president, exploration, stated: "These results are very encouraging as they confirm the presence of gold in the new discovery area. This is the first of nine areas of interest that we plan to trench over the coming months in preparation for a phase 1 drill program. The results obtained from trenches A and L with peak gold values of 7.45 and 5.98 g/t Au are located further south and are closer to the ridge top than the other lower values." Mr. Goldsmith continued, "This is suggestive that the gold dispersion is down slope due to transportation and originates from a nearby, yet undiscovered bedrock source."

Mineralization

Trenches A and L with peak gold values of 7.45 and 5.98 g/t Au over 2.0-metre horizontal lengths, respectively, are located farther south and closer to the ridge top than a peak gold value in trench B of 1.86 g/t Au across 2.0 m horizontal.

Gold dispersion down slope is suggested.

Sampling

Sampling of 166.2 m of trenching was completed with 106 horizontal chip channel sample intervals taken along the base of trench walls. Two samples were collected from each sample interval. One sample was shipped to Actlabs in Georgetown for fire assay of gold and a second sample was panned by the company to examine and determine if free gold was present in the heavy mineral concentrate.

    PAUNCH TRENCHES A, B, C (AS PREVIOUSLY REPORTED: NEWS 
   RELEASE DATED MAY 15, 2018) AND L, WITH SELECTED ASSAY 
                  AND GOLD COUNT INTERVALS

          Total length From   To Length Average depth  Assay
                     m    m    m      m             m g/t Au

Trench A          38.8
                       18.1 19.1      1             7  0.504
                       25.3 32.8    7.5           *NR   2.16
              includes 30.8 32.8      2           *NR   7.45
Trench B          61.2
                       13.7 15.7      2           1.5   1.64
                       30.6 31.2    0.6                 0.58
                       35.2 45.2     10           2.8   0.38
              includes 35.2 37.2      2           3.7   1.86
Trench C            15
                          0    2      2           2.5   0.64
                         10   15      5           3.9   0.64
              includes   10   12      2           4.3   1.06
                         14   15      1           2.8   0.61
Trench L          18.3
                          0    2      2             6   5.98
                       13.3 15.3      2           3.3   0.60
Total            133.3

All samples collected during this program were delivered to Activation Laboratories Ltd. (Actlabs) located in Georgetown, Guyana, for gold content by fire assay (FA). Actlabs is an independent commercial analytical facility and is ISO 17025-accredited and certified to 9001: 2008, with over 25 years experience, with full analytical laboratories that perform high-quality analysis to many industries around the world.

                           SUMMARY OF PAUNCH ANALYSES
  
Minus-80-mesh fraction Plus-80-mesh fraction Duplicates Total number of analyses

106                                       55          5                      166                     

Panning

A second sample was panned in camp to determine if free gold was present in the heavy mineral concentrate. If present, a visual count of gold points and an estimate of the amount of gold dust were recorded. A gold point is a piece that is noticeable as slightly larger than dust. Very fine gold dust particles may be counted in the range of one to 10 but greater amounts must be estimated because the eye does not distinguish between individual specks in a finely divided, closely packed concentration.

Gold, when observed in a pan concentrate at the time of trench sampling, is an indication that trench extensions and additional trenches may be advisable. The trend of greater or lesser amounts of gold over distance may suggest a vector toward a bedrock source.

Counts of gold in pan concentrates are compared as a check with results from fire assays.

Paunch trenches predominantly contained gold dust from pan concentrates in appreciable quantities (100 plus) and an absence of wire or angular gold suggesting that transport has occurred and has originated from a nearby bedrock source.

Geology

In the Paunch trenches saprolite is developed on silty metasediments. Strike of bedding varies between 264 and 282 degrees and dip varies between 73 and 80 degrees south. Where present, discontinuous and fractured 0.5-to-three-centimetre-wide quartz veinlets strike subparallel to bedding and dip 45 to 59 degrees south.

Sampling and assaying

Actlabs crushed, pulverized and sized each sample on an 80-mesh screen.

A sufficient fraction of all 106 samples for a 30-gram fire assay charge passed the 80-mesh screen. The coarse fraction remaining on the 80-mesh screen was sufficient for a 30-gram fire assay charge from 55 of the 106 samples; assays of the two fractions were totalled for presentation on trench assay plans.

Quality assurance/quality control (QA/QC)

Actlabs is an ISO 9001:2008-qualified assayer that performs and makes available internal assaying controls. Certified blanks and standards are systematically used as part of Guyana Goldstrike's QA/QC program with one blank and standard inserted at every 20 sample intervals at Paunch.

Property geology

Gold mineralization at Marudi is regarded as being related to iron-formation-hosted gold (IFG) deposits that occur in other cratonic greenstone belts around the world. These deposits can be remarkably long-lived with sizable gold production. They have a strong association between gold and iron sulphide minerals, the presence of gold-bearing quartz veins and structures, the occurrence of deposits in structurally complex terranes, and the absence of lead and zinc enrichment.

Examples of some existing IFG deposits are: the Homestake mine, Lupin mine and Musselwhite mine.

The Homestake mine is located in South Dakota and was the largest and deepest gold mine in North America. It has reported production of 43.9 million ounces of gold and was in production from 1878 to 2001.

The Lupin mine, located in Nunavut, Canada, no longer in production, produced approximately three million ounces of gold.

The Musselwhite mine has estimated reserves of 2.29 million ounces of gold and is owned and operated by Goldcorp and will be in production until 2020.

About the Marudi gold project

The company is developing the Marudi gold project located in Guyana, South America, the project is unique in that it has a mining licence in good standing, all-season road access, infrastructure in place, with an established mining camp serviced by employees, service buildings and a full-time mining manager. The property has three known gold-bearing areas, specifically the alluvial areas, the saprolite and the underlying hardrock.

There have been 42,000 metres of historic diamond drilling (141 holes) completed on the project by prior operators. The company has recently completed a mineral resource estimate on the Mazoa Hill zone containing 259,100 indicated gold ounces within 4,428,000 tonnes grading 1.8 grams/tonne (g/t) and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 grams/tonne (g/t). There exists excellent exploration upside through the development of previously identified mineralized bedrock targets on the project.

For information concerning the mineral resource estimate and the project, readers are encouraged to review "Technical Report: Marudi Property Mazoa Hill Mineral Resource Estimate," a technical report prepared for the company by Global Mineral Resource Services and is available at the company's website and under the company's profile on SEDAR.

About Guyana

The Republic of Guyana is located in South America between Venezuela and Suriname. The country is English-speaking and under British common law with a democratically elected government. It has an established mining act and a rich history of gold production. In 2016, 690,000 ounces of gold were produced by operators mining in the country. The Fraser Institute's 2016 Annual Survey of Mining listed Guyana as the third-best mining jurisdiction with regard to investment attractiveness in the Latin America and Caribbean basin subgroup. The Guiana Shield is a geographic gold-hosting region, is world recognized as a premier gold region that is highly prospective and underexplored, and has geological continuity with West Africa*. In 2016, two mines in Guyana declared the commencement of commercial production: the Aurora deposit (Guyana Goldfields) and the Karouni deposit (Troy Resources).

* Independent technical and environmental review, Karouni gold project, Guyana, Behre Dolbear Australia Pty. Ltd., April 29, 2016.

Qualified person

Locke Goldsmith, MSc, PEng, PGeo, chief geologist and exploration manager for the company, is a qualified person in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Goldsmith has reviewed and approved the scientific and technical content of this news release.

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