January 19, 2018 / TheNewswire / Vancouver, Canada - Guyana Goldstrike Inc. (the "Company" or "Guyana Goldstrike") (TSXV: GYA, OTC: GYNAF, FSE: 1ZT) is pleased to announce that all matters presented to shareholders at its annual general meeting held on January 15th were approved, and the current board of directors was re-elected.
The Company has also completed a second tranche of its previously announced private placement for gross proceeds of $125,000. On completion of this tranche, the Company issued 416,667 units at a price of $0.30 per unit. Each "unit" consists of one common share of the company and one-half-of-one common share purchase warrant. Each whole warrant is exercisable to acquire an additional common share of the Company at a price of $0.40 for a period of twenty-four months, subject to accelerated expiry in the event the closing price of the Company's common shares is $0.75 or greater for ten consecutive trading days.
In connection with completion of this tranche, the Company paid finder's fees of $1,200 and issued 4,000 broker warrants to an arm's-length finder who introduced a subscriber to the placement. Each broker warrant is exercisable on the same terms as the warrants. All securities issued in connection with the placement are subject to a four-month-and-one-day statutory hold period.
ABOUT THE MARUDI GOLD PROJECT
The Project, located in Guyana, South America, is unique in that it has a mining license 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 saprorlite overburden, and the underlying hard-rock. There has been 42,000 metres of historic diamond drilling (141 holes) completed on the Project by prior operators. This work has delineated historical mineral resource estimates on the Project. There exists excellent exploration upside through the development of previously identified, highly-prospective mineralized targets on the Project.
For information concerning these estimates and the Project, readers are encouraged to review "NI 43-101 Technical Report on the Marudi Property, Guyana", a technical report prepared for the Company by Derrick Strickland, P. Geo., and is available on the Company's website located at (Click Here) and under the Company's profile on SEDAR (www.sedar.com).*
* The Company considers these estimates to be historical, and cautions that a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves in accordance with National Instrument 43-101. The Company does consider these historical estimates to be relevant as they may indicate the presence of gold mineralization and favourable geology.
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 was 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 regards to investment attractiveness in the Latin America and Caribbean Basin sub-group. The Guiana Shield is the geographic gold-hosting region with over 100 million ounces of gold inventory. ** It is world-recognized as a premier gold region that is highly prospective, under-explored 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
