October 2012 Investor Presentation

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Forward Looking Statement

This presentation of Guyana Goldfields Inc. (the "Company") contains statements that constitute "forward‐looking statements." Such forward‐looking statementsinvolve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or developments in our industry, todiffer materially from the anticipated results, performance or achievements expressed or implied by such forward‐looking statements. Forward looking statements arestatements that are not historical facts and are generally, but not always, identified by the words "expects," "aims," "plans," "anticipates," "believes," "intends,""estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred fromthe interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as such informationconstitutes a prediction of what might be found to be present when and if a project is actually developed. Forward‐looking statements this document includes arestatements regarding: the Company's expectations regarding drilling and exploration activities on properties in which the Company has an interest; and the Company'sstatements regarding estimates of resources on properties in which the Company has an interest. There can be no assurance that such statements will prove to beaccurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance onthese forward‐looking statements that speak only as of their respective dates. Important factors that could cause actual results to differ materially from the Company'sexpectations include among others, risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timelymanner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfillexpectations and realize the perceived potential of the Company's properties; uncertainties involved in the estimation of resources; the possibility that requiredpermits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may precludecommercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipmentbreakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overrun or unanticipated expenses in the work program; therisk of environmental contamination or damage resulting from the Company's operations; risks associated with title to mineral properties; and other risks anduncertainties discussed appear elsewhere in the Company's documents filed from time to time with the Toronto Stock Exchange and Canadian securities regulators.These statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposedtransactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. Forward‐lookingstatements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as expressly required byapplicable securities laws, the Corporation undertakes no obligation to update these forward‐looking statements in the event that management's beliefs, estimates oropinions, or other factors, should change.

This presentation uses the terms "Inferred Resource", "Indicated Resource" and "Mineral Resource". The Company advises readers that although these terms arerecognized and required by Canadian securities regulations (under National Instrument 43‐101 "Standards of Disclosure for Mineral Projects"), the US Securities andExchange Commission does not recognize these terms. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever beconverted into reserves. In addition, "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot beassumed that any part of an Indicated or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred MineralResources may not form the basis of feasibility or pre‐feasibility studies, or economic studies except for a Preliminary Assessment as defined and permitted underNational Instrument 43‐101. Readers are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. The MineralResources stated in this news release are not mineral reserves and, in the absence of a current feasibility study, do not demonstrate economic viability. Thedetermination of mineral reserves can be affected by various factors including environmental, permitting, legal, title, taxation, socio‐political, and marketing issues.

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Corporate Snapshot

Symbol: TSX: GUYShares Issued 95,071,814

Options 7,775,058

Warrants 0

Diluted: 102,846,872

52 week: Hi/Lo C$10.06 / C$1.67

3-month average volume: 705,904Market Cap (at C$ 3.41) C$324 million

Cash Position (Oct 1/12) C$40 million

Monthly burn rate C$3 million

Debt $0

Top 15 Shareholders Shares %

The Baupost Group 18.8M 19.8%

Franklin Resources (Templeton) 10.7M 11.2%

Van Eck 8.4M 8.8%

Patrick Sheridan Jr. (Founder/CEO) 6.2M 6.5%

IFC (World Bank Group) 5.1M 5.4%

Blackrock (U.K) 2.3M 2.4%

Norges Bank 2.0M 2.0%

AMG Analysen 1.8M 1.9%

Sprott Asset Mgmt 1.5M 1.6%

AGF Investments Inc. 1.0M 1.0%

Fidelity Investments 1.1M 1.1%

TD Asset Mgmt 0.8M .08%

First Eagle Investments 0.8M .08%

British Columbia Investment Mgmt 0.6M .06%

Degroof Bank Privee S.A. 0.6M .06%

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Management Team

CEO: Mr. Patrick Sheridan, Jr: M.Sc. Founder of Guyana Goldfields from its inception in 1994 – 6.5% ownership stake in GUY Active in mineral exploration in Guyana for 15+ years – discovered the Aurora gold deposit Mr. Sheridan holds a MSc. in Economics from the London School of Economics

President & COO: Mr. Marcel (“Mac”) DeGuire: B.S. Met. E, M.S.Met. E 40+ years of diversified management and senior technical experience Previous CEO of Electrum USA Ltd since 2007 and managed a multitude of exploration properties Held various senior management roles with Apex Silver Mines Corp. and Newmont Mining Corp for a combination of over 30 years Holds a B.S. Metallurgical Engineering and M.S. Metallurgical Engineering

Executive VP, Finance and CFO: Mr. Paul Murphy: B.Comm, CA 37+ years of international financial experience , of which 30 years almost exclusively in the resource industries Former Partner with PwC and National Mining Leader in Canada/Leader for the Western Hemisphere Mining Centre of Excellence Responsible for assessing all financing options

VP, Exploration: Mr. Dan Noone: BApSci (Geol), MBA 20+ years of international mineral exploration and development experience Previous VP of Peru Operations for Aquiline Resources Inc. (Acquired by Pan American Silver Corp.) Held various senior geologist roles managing projects in Papua New Guinea, Indonesia, Peru, Ecuador and Argentina.

VP, Projects: Mr. St. John Lees (Based in Guyana) 15+ years international experience in both the construction and resources industries. Previously responsible for the engineering, procurement and construction management for Rio Tinto Iron Ore Atlantic’s Simandou Project in Guinea Responsible for advancing the technical studies, development, and construction of the Aurora Gold Project and managing the overall project team

VP, Corporate Communications: Ms. Jacqueline Wagenaar: CPIR, B.Mos Previously lead investor relations programs for several junior mining companies and is a Certified Investor Relations Professional from the Richard

Ivey School of Business Responsible for all marketing, communications and investor relations initiatives. Graduate of the University of Western Ontario in Business

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Executive Summary

Resource 6.54 million oz (M&I)1.82 million oz (Inferred)

Grade +3.0 g/t Au

Permitting Fully Permitted

Access Fully functional road access

Exploration Excellent potential

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Comparable Grade Analysis

Source: Scotia Capital. Data as of 07/30/12.

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Aurora Gold Project

Mineralized Zones

From 2004 to Sept 30, 2012:

Drilled 1,346 holes

373,086 meters

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Resources & Grade

June 2012

Gold Price(US$) $1,300/oz

Quantity(Mt)

Grade (g/t)

Gold (M oz)

Measured & Indicated Resources

O/P 32.77 2.62 2.76

U/G 30.06 3.91 3.78

TOTAL 62.83 3.24 6.54

Inferred Resources

O/P 5.12 1.54 0.25

U/G 11.81 4.12 1.56

TOTAL 16.93 3.34 1.82

Cut-off grades are based on a gold price of US$1,300 per ounce of gold and metallurgical recoveries of 97% and 94.7% for saprolite and fresh material respectively. Open pit resources are reported at a cut-off grade of 0.30 and 0.40 gpt gold for saprolite and fresh respectively within conceptual pit shells, Underground mineral resources are reported at a cut-off grade of 1.80 gpt gold and include all blocks above cut-off outside the conceptual pit shells.

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Bankable Feasibility Study – Due Q4

Objectives: Lower initial 

capital/operating costs

3‐ phased production approach

Complete optimization of mine and site plan

Delivery of low capex/high grade, optimized mining scenario

Approx. BFS depth 

Wide open laterally and at depth

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Opportunities in BFS

Lowering Capex/Opex: Revisions to Plant/Mine Design Concentrate on mining deposit from surface to ~750m

Elimination of Vertical Shaft (~$100M)

Elimination of SAG Mill (~$50M)

Elimination of Refrigeration Plant (~$15M)

Paste Backfill Plant (~$20M)

Power Usage Reduction (~$40M)

Maximize throughput in first 10‐13 yrs of mine life

Removal of some smaller pits considered to be marginal

Reduction/optimization of mine footprint and overall haul distances

Review/reduction of mobile fleet and equipment

Review and tradeoff of two U/G mining methods :

Mining Method #1 ‐ Blast Hole Open Stoping Mining Method #2 ‐ Sub‐Level Retreat

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Staged Development Approach

Phase 1: Saprolite Mining Surface ‐ ~50m Mining and processing 

oxidized ore for the first 2‐3 yrs of operations

Scrubbing‐Leaching‐CIL‐EW‐Refining

Start‐up requires minimal capital requirement  through: Simplified processing plant Lower energy consumption No crushing/grinding

Cash flow to help fund further initial development costs

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Staged Development Approach

Phase 2: Open Pit Hard Rock Mining  Depth: Surface ‐ ~220m Crushing‐Grinding‐CIL‐EW‐

Refining For grinding, 3‐stage crushing 

+ Ball mill required Recoveries ~90‐95%

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Staged Development ApproachPhase 3: Underground MiningDepth: ~220m – 750m:  Analysis/tradeoff of 2 methods:

1‐ Blast Hole Open Stoping 2‐ Sub Level Retreat

Depth: ~220m – 750m Access through decline

Mining Method #1 – Blast Hole Open Stoping

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Staged Development Approach

Much lower operating cost ‐ no backfill required

Suitable for sub‐vertical pipe like ore bodies (similar to Rory’s Knoll)

Relatively simple “Top Down” method with potentially high production rates

Easy Access: Shallow to moderate depth mining

Successfully used on diamond mines in South Africa and in Canada

Operations partially funded through cash flow

Underground Mining Method #2 ‐ Sub‐Level Retreat

Example:Diavik Diamond Mine, Northwest Territories

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Proposed Improvements To Site Plan

Water Management 

Pond

Water Management 

Pond

River DikeRiver Dike

1km

Open PitArea

Open PitArea

CampCamp

ProcessArea

ProcessArea

Mine WasteStockpile

Mine WasteStockpile

TailingsArea

TailingsArea

Access RoadAccess Road

GateGate

Cuyuni River

Yearly Rainfall = 2.5mYearly Rainfall = 2.5m

Mine WasteStockpile

Mine WasteStockpile

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BFS Project TeamDeepak Malhotra, Project Manager (focus on Metallurgy, Process, Tailings)

PhD in Mineral Economics and M.S. and B.S. in Metallurgical Engineering 40 + years experience in metallurgy and mineral economics—bankable feasibility studies

Don Elkin, Project Manager (focus on mining, project economics) B.S. of Engineering Mathematics and a B.S. of Geological Engineering 50 years experience in geology, mining and reserve estimation

VP, Projects: Mr. St. John Lees (Based in Guyana) 15+ years international experience in both the construction and resources industries. Previously responsible for the engineering, procurement and construction management  for Rio Tinto Iron Ore Atlantic’s Simandou

Project in Guinea Responsible for advancing technical studies, development, and construction of the Aurora Gold Project and managing the project 

team

Ashley Martin, Civil Engineer (focus on mine layout: tailings, water management and river dyke) Civil engineering degree from Curtin University in Western Australia Involved in large open‐pit mining operations and civil construction in Africa and Australia primarily for gold and copper projects, 

such as Equinox's Lumwana copper project in Zambia

Dan Noone, VP: Exploration 20+ years of international mineral exploration and development experience  Held various senior geologist roles managing projects in Papua New Guinea, Indonesia, Peru, Ecuador and Argentina

Christine Robinson, Operations Manager & Study Coordinator 15+ years experience in general business management Responsible for overall coordination and review of studies work

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Additional Infrastructure Advances

Access

Road access to site in place and functional

6,500 G tanker delivering fuel to Aurora

Camp

An area for the camp is being constructed

New camp is being constructed

Existing facilities are being relocated to permanent site

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Additional Infrastructure Advances

Buckhall Port

Improvements /changes to port design are underway

Kingston Wharf

Evaluations for the rehabilitationof and improvements to thewharf are ongoing

Assessment of logistics planningutilizing the wharf once upgradedis ongoing

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Logistics and Infrastructure

Road Access to Aurora

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Aranka Exploration – Greater Sulphur Rose Area

5,000 soil samples completed to date; 1,200 planned for remainder of 2012

N‐1 Trench: 1.41 g/t Au over 52 m, incl 1.80 g/t over 32 m and 4.34 g/t Au over 12 m

N‐1 Hole: 4.35 g/t Au over 20 m incl6.42 g/t Au over 13 m

S‐3 Trench: 11 g/t Au over 22 m

Aranka Exploration ‐Wynamu

21

4,000 soil samples completed to date; 1,000 planned for remainder of 2012

Ongoing infill soil sampling and trenching within the various zones of interest

Zones of interest

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Aurora Brownfields Exploration

22

Ongoing trenching program

Conducting infill soil sampling

www.guygold.com

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Moving Forward ‐ 2012

Strong Cash Position (~$44M)

Large Supportive Institutional Shareholders

Experienced Management

Updated Bankable Feasibility Study: Q4 2012

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Contact Information

Head Office:

Guyana Goldfields Inc. Telephone: (416) 628 5936141 Adelaide St. West, Suite 1608 Fax: (416) 628 5935 Toronto, ON M5H 3L5 Email: info@guygold.com

Investor Queries:

Vice‐President , Corporate CommunicationsJacqueline WagenaarTelephone: (416) 628 5936 Ext. 2295Email: jwagenaar@guygold.com

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Appendix

Appendix

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Board of Directors

Alan Ferry, CFA, Geologist: (Lead Director)Alan Ferry is an independent businessman since 2007 following over 27 years as a mining analyst and mining corporate finance specialist. Prior to that, he worked as a geologist.

Patrick Sheridan Jr., MSc: Founder, CEO and Interim President & COOMr. Sheridan has depth of experience, working in the mining industry for more than 20 years. He holds a B.Sc. and M.Sc. from the London School of Economics and Political Science, United Kingdom.

Scott A. Caldwell, P.Eng (B.Sc., Mining Engineering) Mr. Caldwell is a mining engineer with nearly 30 years experience working in developing and operating mines worldwide and has over 10 years experience working in Nevada. Mr. Caldwell was Chief Operating Officer of Kinross Gold Corporation until August 2006 and is currently the President , CEO and Director of Allied Nevada Gold Corp.

Dan Noone, MBA, Geologist: VP, ExplorationMr. Noone has 20 years experience in mineral exploration in Australasia and South America. He was previously V.P.of Peru Operations for Aquiline Resources and prior to that was CEO of Absolut Resources.

Robert A. Bondy, LLB: Mr. Bondy recently retired from Blake, Cassels & Graydon LLP where he spent over 30 years in the Securities and Corporate Law Groups .

Richard Williams, LLB: Mr. Williams is the Director of First Metals Inc. and of Waseco Resources Inc. He is also the President and founder of Blackwell Investor Relations Corp., an investor relations firm specializing in establishing and strengthening relationships between public companies and the investment community.

Jean-Pierre Chauvin, P.Eng (B.Sc., Mining Engineering) Mr. Chauvin brings more than 40 years of combined experience in mining operations and construction management. Of particular note, he participated in the development of the Isle-Dieu mine in Matagami, Quebec for Noranda Mines Inc., which required the sinking of production and exploration shafts, as well as the development and definition of the underground operation. Mr Chauvin is currently employed as an interim President & CEO of PC Gold Inc. and sits on the Boards of PC Gold Inc., Macusani Yellowcake Inc., Lakeside Minerals Inc., and Andean American Gold.

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The Region

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GUYANA – The Country              Fully Permitted 

Mining friendly jurisdiction & government

Aurora Permitting License Received; Ready for Construction

Only English speaking country in South America with British common law and secure tenure - part of the Commonwealth

Democratically elected government under parliamentary system

Guyana GDP: US$2.8B (2011 est); GYD$ 581B

Long history of significant gold production:

Gold was the largest export of the country in 2011 with 360,000 oz

Mining License Received and Mineral Agreement Signed ( Nov.18/11):

Royalty:

5%: Gold price $1,000/oz or less

8%: Gold price $1,000/oz +

Corporate income tax: 30% with no withholding tax on interest payments

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Property Locations

Aurora Gold Project, Aurora

6.54M oz Au M&I; 1.82M oz Au Inferred

High grade +3.0 g/t Au

“Shovel-ready” with all permits

New Bankable Feasibility Study due Q4

Sulphur Rose, Aranka

Indicated 277,580 oz Au, Inferred 289,250 oz Au

2 discoveries made within a 5km radius

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Site Geology

Geological Description

Rory's Knoll mineralization: disseminated pyrite and gold mineralization associated with intense silica-fuchsite-sericite-carbonate alteration in tonalite intrusive probably emplaced at the hinge of the folded volcanic rock and metasediments.

Mad Kiss mineralization: disseminated pyrite and gold mineralization associated with intense silica-fuchsite-sericite-carbonate alteration in a quartz feldspar porphyry dyke.

Aleck Hill mineralization: mesothermal gold veins hosted in the shear zones of metavolcanic and metasedimentary rocks; occurs in a zone of pyrite-rich quartz-carbonate veins in volcanic rocks that are enclosed in an alteration envelope which reportedly includes silica-sericite and calcite cement filling fractures.

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23 km away from Aurora in a straight line Northwest trending zone measuring ~500m strike length X 200m width X ~630 m depth. O/P depth to 255m; Block model depth extends to 640m (Micon, Dec 2011) Remains open vertically and at depth. Metallurgical testing: 91.9% recovery (similar to Aurora). No by-products. Drilled 50,131m from 183 holes

(Jan 1, 2010 – Sept 30, 2012)

Tonnes Au Grade(g/t)

Contained Au(Inf ounces)

IndicatedO/P 8,250,000 1.04 275,550U/G 30,000 2.10 2,030Total 8,280,000 1.04 277,580

InferredO/P 5,120,000 1.14 187,710U/G 1,210,000 2.61 101,540Total 6,330,000 1.42 289,250

Sulphur Rose Deposit