Guyana Goldstrike Inc. — Capital/Financing Update 2021

May 21, 2021

GUYANA GOLDSTRIKE INC.

Suite 588, 580 Hornby Street Vancouver, British Columbia V6C 3B6

NEWS RELEASE

GUYANA GOLDSTRIKE ANNOUNCES CANCELLATION AND GRANT OF STOCK OPTIONS

May 20, 2021 – Vancouver, Canada – Guyana Goldstrike Inc. (the “Company” or “Guyana Goldstrike”) (TSXV: GYA, OTC: GYNAF) announces that it has granted incentive stock options (the “Granted Options”) to certain directors, officers, consultants and advisors of the Company, in the amount of 3,800,000 common shares, exercisable at $0.15 per share. The Granted Options will vest immediately and are exercisable for a period of five (5) years from the grant date.

The Company further announces that it has cancelled an aggregate of 1,073,000 incentive stock options (the “Cancelled Options”) previously held by directors, officers, consultants and advisors of the Company. The Cancelled Options are as follows: 120,000 stock options with an exercise price of $0.75, 50,000 stock options with an exercise price of $1.00, 608,000 stock options with an exercise price of $1.25 and 295,000 stock options with an exercise price of $1.50.

The Granted Options are subject to TSX Venture Exchange approval.

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), contact the Company by telephone at 1.877.844.4661 or by email at 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 forwardlooking 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.