Mr. Peter Berdusco reports

GUYANA GOLDSTRIKE TO COMMENCE PHASE ONE DIAMOND DRILLING IN Q1 2019 AT MARUDI GOLD PROJECT, GUYANA, SOUTH AMERICA

Guyana Goldstrike is currently soliciting and reviewing bids from drilling contractors for the right to diamond drill the company's Marudi gold project located in the Guiana gold belt, Guyana, South America.

The planned phase 1 drilling will focus on Toucan Ridge, a new gold discovery area at Marudi. The phase 1 target zones will focus on the multiple trench sites along the ridge which have successfully confirmed gold mineralization. Target zones will be further defined once the magnetic and radiometric survey report has been completed and then reviewed by the technical team. The primary objective of phase 1 is to confirm mineralization at depth. The target zones are open in all directions, and trenching is currently continuing and progressing in an eastward direction along the ridge's 1.75-kilometre area of interest.

Drilling is anticipated to commence in early Q1 2019. The company has planned additional diamond drilling phases in 2019. The additional phases are based upon drilling success at Toucan Ridge and depth confirmation drilling at other areas of interest on the property. These areas will be scheduled for trenching and priority will be given to those areas possessing the best exploration upside. The goal of the 2019 program is to expand Marudi's mineral resource estimates. Further details of phase 1 and the 2019 drill program will be disclosed in subsequent news releases.

Toucan Hill -- diamond drill hole TH 93-84

One historical hole has been drilled near Toucan Ridge. In 1993, Romanex-Sutton drilled 300.0 metres south of the ridge at Toucan Hill. The hole encountered a 39.0-metre section of elevated mineralization including 3.0 metres of 0.82 g/t Au at a depth of roughly 180.0 metres below surface. The hole terminated at a depth of 230.0 metres below surface in the quartzite-metachert host rock without drilling through it.

Mineral resource estimates and assay highlights from Mazoa Hill zone

In 2012, the prior operator drilled the Mazoa Hill zone, which contains the company's current mineral resource estimate. The Toucan Ridge area is located approximately one kilometre north of the Mazoa Hill zone. Data analyzed suggest that the mineralized zone is open at depth and to the southeast. Mazoa Hill zone mineral resource estimates:

• 259,100 indicated gold ounces within 4,428,000 tonnes grading 1.80 grams per tonne (g/t);
• 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 g/t.

For further information regarding the resource estimates, readers are encouraged to review the technical report, titled, "Marudi Property Mazoa Hill Mineral Resource Estimate," available under the company's profile on SEDAR.

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

The company has completed a total of 1,748 metres of trenching and taken 518 samples at the Toucan Ridge area. The area of interest continues for more than 1.75 kilometres to the east of trench TTR-18-06. To date, a total of seven trenches have been completed within the area of interest. Trench sites are planned where quartzite-metachert is exposed or interpreted to occur beneath the transported overburden.

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.

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 has 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 1.80 g/t and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 g/t. The company has recently discovered a third mineralized zone: Toucan Ridge. This zone is the current focus of the company's 2018 trenching program. There exists excellent exploration upside for the further discovery of mineralized zones through the development of previously and newly identified mineralized bedrock targets on the project.

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.

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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