Mr. Peter Berdusco reports

GUYANA GOLDSTRIKE REPORTS INITIAL ASSAYS OF 0.69 G/T AU OVER 27 METRES INCLUDING 1.09 G/T AU OVER 9 METRES IN TRENCH TTR-18-7 AT TOUCAN RIDGE AREA, MARUDI GOLD PROJECT, GUYANA

Guyana Goldstrike Inc. has released initial assay results from trench TTR-18-7 at the Toucan Ridge area on its Marudi gold project located in the Guiana gold belt, Guyana, South America.

Trench TTR-18-7 initial assays returned values of 0.69 gram per tonne gold over 27 metres including 1.09 g/t Au over nine metres. The trench is located approximately 100 metres eastward of trench TTR-18-06 along Toucan Ridge.

The results have been added to the table of significant gold assay results. Additional samples are pending from trench TTR-18-07 and will be released once received and reviewed by the company.

Peter Berdusco, president and chief executive officer, stated: "Our mandate via the investment by Zijin's Global and Midas Exploration Funds earlier this year is very clear -- to explore and develop Marudi for additional hardrock ounces to add to the company's existing resources. To this effort, our trenching program has explored four of the nine identified areas of geological interest for the discovery of gold, with Toucan Ridge currently under exploration. Further results from Toucan Ridge are pending for trenches, TTR-18-06, TTR-18-07, TTR-18-08 and TTR-18-09. The geological team is continuing to prudently step out and trench along the ridge's area of interest with the current sampling and mapping of trench TTR-18-10."

Current zones and mineral resource estimate

The Toucan Ridge area 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. Data analyzed suggest that the mineralized zone is open at depth and to the southeast. Please find the Mazoa Hill zone mineral resource estimate below:

• 259,100 indicated gold ounces within 4,428,000 tonnes grading 1.8 g/t;
• 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.6 g/t.

Note: Interval lengths do not represent true widths.

Toucan Ridge area location and trenching

A total of 1,128 metres of trenching have been completed in the Toucan Ridge area. Three hundred ninety samples have been 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 m 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 g/t of gold (source: D. Strickland, PGeo, National Instrument 43-101 technical report, 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 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 located in South Dakota 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 located in Ontario, Canada, 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 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 historic diamond drilling (141 holes) completed on the project by prior operators that have delineated two zones of mineralization: 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 g/t and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.6 g/t. 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 the trenching program were delivered by Guyana Goldstrike personnel to Activation Laboratories Ltd., located in Georgetown, Guyana. Actlabs is ISO 17025 accredited and an ISO 9001:2008-qualified and -certified assayer that performs and makes available internal assaying controls. Actlabs has more than 25 years experience and maintains complete analytical laboratories that perform high-quality analysis for many industries around the world.

Two samples are collected from each interval in the trenches. The first sample is sent to Actlabs to be assayed either by fire assay for gold, or for gold by total metallic content, to account for free gold and nugget effect. The second sample is panned to determine if visible gold may be present; a count of gold points and dust is recorded.

All samples that are identified by the project geologist as quartzite-metachert (the typical host rock for gold mineralization at Marudi) are routinely sent to Actlabs for total metallic content. Sample intervals of any rock type that contain visible gold in panning are also assayed by total metallics.

Quality assurance/quality control

Certified blanks and standards are systematically used in the trenching program as part of Guyana Goldstrike's quality assurance/quality control (QA/QC) program. One blank and one standard are inserted into sample shipments at every 20th sample. Duplicates are also inserted into sample shipments.

About Guyana Goldstrike Inc.

Guyana Goldstrike is a Canada-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 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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