VANCOUVER, May 25, 2012 /PRNewswire/ - Guyana Frontier Mining Corp. ("Guyana
Frontier") is pleased to announce that Mulgravian Ventures Corporation
("Mulgravian"), a non-arm's length private B.C. company, has exercised
common share purchase warrants to acquire 500,000 common shares of
Guyana Frontier at a price of $1.20 per share (the "Warrants"), for
gross proceeds to Guyana Frontier of $600,000. The Warrants were issued
as part of the $600,000 non-brokered private placement previously
announced in Guyana Frontier news releases dated April 28, 2009 and May
3, 2011.
The exercise of the Warrants is one of the option exercise requirements,
which includes incurred exploration expenditures of US$5.0 Million over
a period of 4 years, in respect of Mulgravian's option to acquire a 51%
joint venture interest in Guyana Frontier's Guiana Shield Resources
Inc. property package.
About Guyana Frontier
Guyana Frontier is a public mineral exploration company listed on the
TSX Venture Exchange (TSX-V: GYG), and is focused on the exploration,
discovery and development of precious metals deposits located within
Guyana, South America. Guyana Frontier began acquiring interests in
Guyanese exploration properties in 2007, and now holds various rights
to obtain working interests in approximately 342,000 acres (138,400
hectares) of prospective lands. Guyana Frontier's goal is to develop a
significant gold resource at the Marudi Mountain Gold Project, and to
explore its other Guyanese projects using funding from exploration
partners.
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.
Forward Looking Statements
This news release contains forward-looking statements that are based on
Guyana Frontier's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that
certain events or conditions "may" or "will" occur. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events or
results implied or expressed in such forward-looking statements. Any
forward-looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities laws,
Guyana Frontier disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are
not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty
therein.
SOURCE Guyana Frontier Mining Corp.
