Mr. Peter Berdusco reports

GUYANA GOLDSTRIKE IDENTIFIES HOST ROCK IN FIRST THREE TRENCHES: EXPANDS PROGRAM AT MARUDI NORTH - WEST EXTENSION, MARUDI GOLD PROJECT, GUYANA

Guyana Goldstrike Inc.'s geological team has uncovered quartzite-metachert (host rock for gold mineralization) in the first three excavator trenches at the Marudi northwest extension on its Marudi gold project located in the Guiana gold belt, Guyana, South America. The geological team has now expanded the trenching program in this area to continue tracing the host rock and associated gold mineralization.

Peter Berdusco, president and chief executive officer, stated: "It is very exciting to uncover the host rock in the first three trenches at the west extension. This is exactly what we want to identify when trenching, and it validates our program. The presence of gold at these trenches would complement the existing mineralization of the Marudi north zone. Further, it would give the entire Marudi north area a very high exploration priority. As a result, we eagerly anticipate assay results from the first three trenches and look forward to the additional trenching."

Marudi northwest extension exploration

Locke Goldsmith, PEng, PGeo, vice-president, exploration, reported: "Quartzite-metachert, the host rock, has been exposed at depths between one to four metres below surface in three separate trenches. The west extension has become an excellent exploration target that merits further trenching. We will carefully consider the area's qualification as a drill target for a phase 1 drill program later this year."

About quartzite-metachert (host rock) at Marudi

At the Marudi property, all important gold mineralization discovered to date is associated with the medial quartzite unit of the Marudi Mountain formation. Gold occurs within the magnetite-hematite-rich quartzite and in the magnetite-silicate iron formation (source: D. Strickland, National Instrument 43-101 technical report, Nov. 30, 2016).

Trenching summary at Marudi northwest extension (to date)

Trench TMN-18-1

Length: 98.1 metres

An outcrop of quartzite-metachert was exposed at 2.5 m depth at the start of the trench.

Trench TMN-18-2

Length: 56.4 metres

Decomposed quartzite-metachert was uncovered at 4.0 m below surface, rising to one m below surface at the north end of the subcrop.

Trench TMN-18-3

Length: approximately 150 m (sampling not completed)

Quartzite-metachert was found 1.0 m below surface near the south end.

In all trenches horizontal chip channel samples were collected for geochemical analysis along the base of the trench walls. Duplicate samples were collected for panning.

A total of 58 samples were taken from TMN-18-1 and TMN-18-2 for geochemical analysis.

Logging, mapping and photography follow sampling.

The exploration team is extending the trenching program to the west of TMN-18-3 where alluvial gold is being mined in a creek to the south of that area.

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 sizeable 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 Mussellwhite 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.

Historical trenching at Marudi

Previous operators at Marudi reported 3,327.40 metres of trenching and assayed 1,069 samples with gold values assayed up to 11 grams per tonne of gold (source: D. Strickland, PGeo, NI 43-101 technical report, Nov. 30, 2016).

Hole No.    Final depth of hole     From       To  Interval    Gold intercept
                            (m)      (m)      (m)       (m)             (g/t)

MN12-133                  163.5     9.08       18      8.92              2.95
                      including      9.6       12       2.4              7.45
                                      30    37.45      7.45              0.26
                                   159.7    163.5       3.8              0.32
MN12-134                  97.67     12.5    30.05     17.55              4.29
                      including     12.5     24.5        12              5.54
                                   30.05       39      8.95               0.3
MH12-135                  268.5    23.26     55.5     32.24               1.8
MN12-137                  292.5   195.13   204.94      9.81              0.78
MN12-140                  139.5    48.97    57.16      8.19              0.31
                                    72.5     80.5         8               1.9
                      including     74.5     78.5         4               3.4
MN12-141                    110       36     42.5      8.95              0.26
                                      60       66         6               0.3

Sampling and assaying

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 ISO 17025 accredited and/or certified to 9001:2008. With over 25 years experience, with full analytical laboratories that perform high-quality analysis to many industries around the world.

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.

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 20-year 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 per tonne (g/t) and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 grams per tonne (g/t).

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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