Guyana Goldfields is an exploration stage company engaged in the acquisition, exploration, evaluation and development of principally gold resource properties in Guyana. Co. is in the process of determining whether its mineral properties contain reserves that are economically recoverable. The recovery of amounts capitalized for mineral exploration properties in the consolidated balance sheets is dependant upon the existence of economically recoverable reserves, the ability of Co. to arrange appropriate financing to complete the development of the properties and upon future profitable production or proceeds from their disposition.

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