Guyana Goldstrike Closes Second Tranche of Private Placement

(TheNewswire)

Vancouver, Canada TheNewswire - March 16, 2021 Guyana Goldstrike Inc. (the "Company" or "Guyana Goldstrike") (TSXV:GYA ) ( OTC:GYNAF ) ( FSE:1ZT ) is pleased to announce the closing of the second tranche of the non-brokered private placement (the " Placement ") of units of the Company (" Units ") resulting in the issuance of an additional 10,642,500 Units at a price of $0.10 per Unit for gross proceeds of CDN$1,064,250.

In aggregate with the closing of the first tranche of the Placement, announced February 17, 2021, the Company has issued 23,662,500 Units, for gross proceeds of $2,366,250.

Each Unit consists of one common share of the Company (a " Common Share ") and one Common Share purchase warrant (a " Warrant "), with each Warrant entitling the holder to purchase an additional Common Share at a price of $0.15 per share for a period of thirty-six months following the closing of the Placement.

In connection with the closing of the second tranche, arms-length agents received an aggregate cash fee of $10,400. In addition, the Company issued to agents 69,333 broker warrants (the " Broker Warrants "). Each Broker Warrant will entitle the holder thereof to purchase one Common Share at an exercise price equal to $0.15 for a period of thirty-six months following the closing of the Placement.

The Company has received a thirty-day extension to facilitate a third and final tranche. The final tranche will close on or before April 15, 2021. Proceeds from the Placement will be used to pay liabilities, accounts payable, and for general working capital.  The securities issued pursuant to the Placement will be subject to a statutory hold period until July 17, 2021. The closing of the Placement remains subject to the final approval of the TSX Venture Exchange.

For further information, interested parties are encouraged to visit the Company's website www.guyanagoldstrike.com and the Company's profile on SEDAR ( www.sedar.com ) or contact the Company by telephone at 1.877.844.4661 or email info@guyanagoldstrike.com .

On behalf of the Board of Directors of

Guyana Goldstrike INC.

Peter Berdusco

President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information.  These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for gold, changes in exploration costs and government regulation in Guyana, status of artisanal mining activities and associated rights, and other factors or information.  Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties.  Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements.  The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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