Name and Location
Aurora gold project, Guyana.

Client
Guyana Goldfields.

Project Description
The Aurora gold project contains proven and probable reserves of about 3.47-million ounces of gold, with a grading of 2.74 g/t gold.

An updated feasibility study on the project indicates that the openpit and underground mining operations are economically robust, with substantial upside potential.

The updated study envisages staged gold production, with initial openpit production at Rory’s Knoll supplying ore to the mill at a rate of 5 000 t/d. Rory’s Knoll will be mined using the open-benching and sublevel-retreat mining methods through a decline access with truck haulage, while the satellite openpits are mined concurrently. During this phase, mill capacity will increase to 10 000 t/d for five years. Thereafter, mining will continue underground for nine years, with the mill operating at 5 300 t/d.

The study estimates that 3.29-million ounces of gold will be produced over an initial 17-year mine life.

Value
$205-million.

Duration
Production is expected to begin in 2015.

Latest Developments
Guyana Goldfields expects to explore the existing potential to incorporate into the mine plan previously defined resources contained below the pit shell at Aleck Hill and below the Rory’s Knoll underground mine design.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Guyana Goldfields VP: corporate communications Jacqueline Wagenaar, tel +1 416 628 5936 ext 2295 or
email jwagenaar@guygold.com.