Guyana Goldfields and its wholly owned subsidiary, AGM, announced the signing of a common terms agreement with International Finance Corporation, Export Development Canada, ING Capital, Caterpillar Financial and The Bank of Nova Scotia with respect to its previously announced credit approval for a $185 Million project finance facility to fund the development and construction of the 100%-owned Aurora Gold Project located in Guyana, South America. With the completion of the Facility, the development of the Project is now fully financed, subject to the terms and conditions of the Facility.

The project loan facility will consist of two tranches; a tranche 1 facility of $160 million and a tranche 2 cost overrun facility of $25 million. The maximum term of the facility is eight years and advances under the facility bear a weighted average interest rate of 3-month LIBOR plus 5.11% for tranche 1 facility, and advances under the tranche 2 facility would bear interest at the same average range of rates plus 0.5% (if drawn).