Mr. Peter Berdusco reports

GUYANA GOLDSTRIKE INTERSECTS 3.29 G/T AU OVER 8.40 METRES WITHIN 19.80 METRES OF 1.87 G/T AU IN TRENCH TTR-18-09 AT TOUCAN RIDGE AREA, MARUDI GOLD PROJECT, GUYANA

Guyana Goldstrike Inc. has released assay results from trench TTR-18-9 at the Toucan Ridge area on its Marudi gold project located in the Guiana gold belt, Guyana, South America.

Trench TTR-18-9 assays returned 3.29 grams per tonne gold over 8.40 metres within 19.80 metres of 1.87 g/t Au. The trench is located approximately 300 metres eastward of trench TTR-18-06 along Toucan Ridge. In total, 298.30 metres have been excavated, sampled and mapped. The results represent the final assays from trench TTR-18-09; additional assays are pending from Toucan Ridge trenches TTR-18-07 and TTR-18-08, and will be released once received and reviewed by the company.

Peter Berdusco, president and chief executive officer, states:

"We continue to be very pleased with our trenching at Toucan Ridge. Trench TTR-18-09 results have confirmed good grades with significant interval lengths, which are consistent with results received from previous trenching performed on the ridge this summer. The technical team will continue to step out and trench along the ridge's current 1.75-kilometre-long area of interest. We also look forward to the results of the recently completed airborne magnetic and radiometric survey that was performed over the entire 13,500-acre property. The survey will assist in further defining our current trenching targets and drill targets for our planned 2019 drill program."

Current gold zones and mineral resource estimate at Marudi

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. Mazoa Hill zone mineral resource estimate:

• 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.

Current trenching at Toucan Ridge -- 1.75-kilometre area of interest

A total of 1,112 metres of trenching have been completed in the Toucan Ridge area of the Marudi property. 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 in 100 metre intervals, mainly perpendicular to the ridge. The area of interest continues for more than 1.75 kilometres to the east of trench -- TTR-18-06. 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.

Toucan Hill -- diamond drill hole TH 93-84

One historical hole has been drilled near Toucan Ridge. In 1993, Romanex-Sutton drilled 300 metres south of the ridge at the Toucan Hill area. The hole encountered a 39-metre section of elevated mineralization including three metres of 0.82 g/t Au at a depth of roughly 180 metres below surface. The hole terminated at a depth of 230 metres below surface in the quartzite-metachert host rock without drilling through it.

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.

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, 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 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.

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, which is available under the company's profile on SEDAR.

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 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 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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