Mr. Peter Berdusco reports

GUYANA GOLDSTRIKE SAMPLING AND MAPPING OF TRENCH TTR-18-10 EXTENDED TO 114 METRES AT TOUCAN RIDGE AREA, MARUDI GOLD PROJECT, GUYANA

Guyana Goldstrike Inc.'s sampling and mapping of trench TTR-18-10 have been extended to 114 metres at the Toucan Ridge area on its Marudi gold project located in the Guiana gold belt, Guyana, South America.

Trench TTR-18-10 is located approximately 400 metres eastward of trench TTR-18-06 along Toucan Ridge. To date, 114 metres have been trenched, sampled and mapped, with five sections identified as bearing quartzite-metachert host rock with magnetite. Trenching at TTR-18-10 continues.

Trenching began on the western end with trench TTR-18-05, which is located approximately one kilometre east of the Marudi North zone and one kilometre north of the Mazoa Hill zone.

The Mazoa Hill zone contains the project's current mineral resource estimate: 259,100 indicated gold ounces within 4,428,000 tonnes grading 1.8 grams per tonne and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.6 g/t. Data analyzed suggest that the mineralized zone is open at depth and to the southeast.

Significant gold discoveries to date

The company has trenched four areas of interest: Paunch, Pancake, Marudi-North West Extension and Toucan Ridge, which is the current area of focus.

In May, 2018, trench samples from the Paunch area returned the program's first significant gold discovery with high-grade assay results of 7.45 g/t and 5.98 g/t gold over two metres respectively.

In July, 2018, samples at Toucan Ridge returned the trenching program's second significant gold discovery with trench TTR-8-6 returning a total metallic weighted average assay of 1.27 g/t over 4.5 metres.

In August, 2018, samples at Toucan Ridge from trench TTR-18-8 returned initial assay values of 1.38 g/t gold over 16 metres including 5.4 g/t gold over three metres, which has been subsequently adjusted to 1.22 g/t gold over 18.9 metres including 5.4 g/t over three metres.

Toucan Ridge area location and trenching

A total of 1,112 metres of trenching have been completed in the Toucan Ridge area with 390 samples taken. The exploration team will continue along the ridge progressing in an eastward direction with each new trench site stepping out roughly 50-to-100-metre intervals, mainly perpendicular to the ridge.

The area of interest continues for more than 1.75 kilometres to the east of the first trench -- TTR-18-05. Trench sites are planned where quartzite-metachert is exposed or interpreted to occur beneath the transported overburden. The eastern part of Toucan Ridge is approximately 400 metres south of the Paunch area which was trenched in May and returned the company's first significant gold discovery.

About quartzite-metachert (host rock) at Marudi

At Marudi, all important gold mineralization discovered to date is associated with the medial quartzite-metachert (host rock) unit of the Marudi Mountain formation. Gold occurs within the magnetite-hematite-rich quartzite and in the magnetite-silicate iron formation. Mineralization of the host rock may be affected at surface by the erosion at different levels of the strata. Therefore, all discoveries of quartzite-metachert on the property are considered important for the potential of containing mineralization at surface and/or at depth and should be explored through trenching and drilling. When discovered, these areas are assigned high levels of priority for further exploration work, including drilling in the company's planned drill program.

Historical trenching

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, National Instrument 43-101 technical report dated Nov. 30, 2016).

Marudi 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, the Lupin mine and the Musselwhite mine.

The Homestake mine is located in South Dakota, United States, 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, and no longer in production, produced approximately three million ounces of gold.

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

Option grant

The company also announces that it will be proceeding with the grant of 1.5 million incentive stock options announced on May 3, 2018, but that these options will be exercisable at a price of 30 cents and not 25 cents as previously noted. One hundred fifty thousand of the options will vest in four equal increments every quarter for a period of 12 months, with the balance of the options vesting immediately. As announced, all the options will be exercisable for a period of 60 months.

About the Marudi gold project

The company is developing the Marudi gold project located in Guyana, South America. The project has an 18-year mining licence in good standing, all-season road access, infrastructure in place, with an established camp serviced by employees, service buildings and a full-time camp manager. The property has three known gold-bearing areas: the alluvial areas, the saprolite and the underlying hard rock.

There have been 42,000 metres of historical diamond drilling (141 holes) completed on the project by prior operators that have delineated two zones of mineralization: the Mazoa Hill and Marudi North zones. 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 and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.6 grams per tonne.

There exists excellent exploration upside through the development of previously and newly identified mineralized bedrock targets on the project.

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) and total metallics. Actlabs is ISO 17025 accredited and/or certified to 9001:2008 and has over 25 years of experience, with full analytical laboratories that perform high-quality analysis for many industries around the world.

Quality assurance/quality control

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 quality assurance/quality control program with one blank and standard inserted at every 20 sample intervals.

About Guyana Goldstrike Inc.

Guyana Goldstrike is a Canadian-based junior gold company focused on the exploration, development and operation of the Marudi gold project in Guyana, South America.

About Guyana

The Republic of Guyana is located in South America adjacent to 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 the geographic gold-hosting region, and is world recognized as a premier gold region that is highly prospective, 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 NI 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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