Mr. Peter Berdusco reports

GUYANA GOLDSTRIKE SELECTS PRECISION GEOSURVEYS TO CONDUCT AIRBORNE GEOPHYSICAL SURVEY OVER ENTIRE 13,500 ACRE MARUDI GOLD PROJECT, GUYANA, SOUTH AMERICA

Guyana Goldstrike Inc. has selected Precision GeoSurveys Inc. of Langley, B.C., to conduct a high-resolution airborne geophysical survey over the entire 13,500-acre area of the Marudi gold project using Precision's magnetic and radiometric systems.

The company is currently executing its phase 1 exploration program of trenching, mapping and sampling on nine areas of interest. Three areas are completed to date and assays from surface trenching have been reported as high as 7.45 grams per tonne gold. The company will continue throughout the coming months with its phase 1 program in preparation for an upcoming drilling program.

Peter Berdusco, president and chief executive officer, stated: "We are very pleased to be working with Precision, a Canadian and global leader in airborne geophysics. The airborne survey, set to commence in the coming quarter, will be flown close to the ground with tight 50-metre line spacing. The high-resolution magnetic and radiometric survey will be a key tool used by Guyana Goldstrike's exploration team to map folding, shearing and faulting in detail, in this structurally complex gold project."

Locke Goldsmith, PEng, PGeo, vice-president of exploration, stated: "This is the first detailed airborne geophysical survey ever conducted on Marudi. Upon completion of the planned survey, the data collected will be supplemented with the detailed trenching, geological mapping and rock sampling completed in the areas of interest. Our exploration team will then have a uniform, modern data set that will allow us to better visualize the property-scale geology. This data set will assist in locating important strata that host gold mineralization and will rapidly and effectively generate priority exploration drill targets for an upcoming drill program."

The airborne geophysical survey will encompass the entire property, including the previously drilled Mazoa Hill and the Marudi north zones and all areas that have been trenched, sampled and mapped.

The company will update the market and its shareholders as final plans are completed and the survey has commenced.

Geophysical history

Historic (about 1971 to 1973) broad-scale government regional airborne magnetic survey maps do not contain sufficient resolution to allow detailed interpretation of geology. During 1990/1991 Romanex Guyana Exploration Ltd. conducted ground magnetic and VLF (very low frequency) EM (electromagnetic) surveys over Mazoa Hill.

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 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.

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