Guyana Frontier Mining / GYG (TSXV)

    News Release - Tuesday, November 27, 2012
    Guyana Frontier Reports Drilling Program at Five Star Gold Project


    Vancouver, Canada, November 27, 2012 - Guyana Frontier Mining Corp. ("Guyana Frontier") is pleased to announce that Mulgravian Ventures Corporation ("Mulgravian", a private Canadian exploration company) has begun a diamond drilling program on the Five Star Gold Project ("Five Star"), located in northwest Guyana, South America. The initial drilling program at Five Star is planned for a total of up to 10,000 metres over the next twelve months, with the final drilling meterage total dependent upon results.


    Highlights of Five Star 2012 Exploration and 2013 Exploration Plans


    Prospecting and geological mapping, trenching, soil auger geochemical, and diamond drilling programs are underway;
    An airborne magnetic and radiometric survey is complete over all areas of Five Star;
    Construction of an airstrip and improvements to Five Star road access are planned; and
    2013 program and budget presented by Mulgravian totals approximately US$6.7 million.


    A joint venture was formed in April 2012 on Five Star with Mulgravian as operator holding a 51% interest and Guyana Frontier holding a 49% interest (see Guyana Frontier news releases dated April 17 and July 11, 2012). Guyana Frontier previously elected not to contribute to the 2012 Five Star program, and will be subject to standard dilution of its 49% interest in Five Star according to the terms of the joint venture agreement.


    The technical work disclosed in this document was supervised, reviewed and approved by Robert Lunceford, M.Sc., CPG, who is a Qualified Person as defined in National Instrument 43-101 ("NI 43-101").


    About Five Star


    Five Star consists of 17 mining permits and 8 prospecting permits, which cover an area of approximately 25,065 acres (10,144 hectares) near the settlement of Matthew's Ridge, Guyana. Guyana Frontier acquired its 100% interest in Five Star from two separate underlying vendors, Case Development Company Ltd. and Marcel Waaldijk (the "Underlying Vendors"), with each of the Underlying Vendors currently maintaining a 3% net smelter returns royalty ("NSR") on their respective permits. Each NSR is subject to buy-down provisions. Mulgravian earned its 51% working interest in Five Star from Guyana Frontier by incurring minimum exploration expenditures and property acquisition costs of US$2.0 million, and by purchasing Guyana Frontier common shares and exercising Guyana Frontier common share purchase warrants totalling CDN$630,000.


    On May 10, 2011, Guyana Frontier filed a technical report in respect of Five Star on SEDAR compliant with the standards of NI 43-101, available at http://www.sedar.com


    About Guyana Frontier


    Guyana Frontier is a TSXV-listed public mineral exploration company focused on the exploration, discovery and development of precious metals deposits in Guyana and Brazil, South America. Guyana Frontier began acquiring interests in Guyanese exploration properties in 2007, and now holds various rights to obtain working interests in approximately 209,824 acres (84,915 hectares) of prospective lands in Guyana.


    Guyana Frontier's primary goal is to develop a significant gold resource at the Marudi Mountain Gold Project, and to explore its other projects with joint venture partners. For further information about Guyana Frontier, please visit our website at http://www.guyanafrontier.com or contact Warren Stanyer, President and CEO, at (604) 558-0077.


    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.


    Crüße GW

    News Release - Thursday, November 29, 2012
    Guyana Frontier Exercises Option to Acquire Black Banana Property


    Vancouver, Canada, November 29, 2012 - Guyana Frontier Mining Corp. ("Guyana Frontier") announced today that it has exercised its option to acquire a 100% interest in the Black Banana property ("Black Banana") in northwestern Guyana, South America. Black Banana consists of 9 prospecting permits and 1 mining permit totaling approximately 8,290 acres (3,355 hectares).


    Guyana Frontier exercised its right to acquire Black Banana by fulfilling its obligations pursuant to a property option agreement between Frederick Obermuller ("Obermuller") and Guyana Frontier, dated August 12, 2009 (see Guyana Frontier news release dated September 28, 2009).


    Guyana Frontier acquired its 100% interest in Black Banana by paying to Obermuller an aggregate of US$157,500 in cash and incurring exploration expenditures of US$300,000 before December 6, 2012. Black Banana is subject to a 3% net smelter returns royalty ("NSR") payable to Obermuller of which Guyana Frontier will have the option, at any time, to reduce the NSR to nil upon paying Obermuller an aggregate of US$1,500,000.


    Mulgravian Ventures Corporation Option Agreement


    On May 26, 2010, Guyana Frontier signed a definitive option and joint venture agreement with Mulgravian Ventures Corporation ("Mulgravian"), whereby Mulgravian may acquire a 60% working interest in Black Banana through a series of qualified exploration and development expenditures, and direct investments in Guyana Frontier. Mulgravian's obligations under the option and joint venture agreement are as follows:


    the purchase of 1,250,000 shares of Guyana Frontier by way of a private placement financing at the price of $0.20 per share for a total purchase price of $250,000 (completed on December 23, 2008);
    exploration expenditures of not less than US$500,000 to be incurred on or before November 29, 2011, (completed);
    cumulative exploration expenditures of US$1,100,000 to be incurred on or before November 29, 2012; and
    cumulative exploration expenditures of US$2,000,000 to be incurred on or before November 29, 2013.


    Upon completion of this series of investments and exploration expenditures, Mulgravian shall become the beneficial owner of 60% of the issued shares of Black Jack Mines Inc. (a Guyana-registered holding company wholly-owned by Guyana Frontier), with Guyana Frontier holding the remaining 40% of the shares. Initially, Guyana Frontier operated exploration programs on behalf of Mulgravian and Black Jack Mines Inc. and was entitled to charge a net management fee equal to 8% of the qualified expenditures incurred. In March 2011, Mulgravian elected to act as operator of Black Banana and is entitled to charge a management fee equal to 10% of the qualified expenditures incurred.

    News Release - Thursday, December 13, 2012
    Guyana Frontier Provides Corporate Update


    Vancouver, Canada, December 13, 2012 - Guyana Frontier Mining Corp. ("Guyana Frontier", TSXV: GYG) wishes to update its shareholders on the status of the proposed transaction with Horizonte Minerals Plc. ("Horizonte", AIM and TSX: HZM) for the acquisition of the Falcao Gold Project ("Falcao"), and on the status of certain mineral exploration properties in Guyana, South America and Ontario, Canada. As previously announced in its news release of November 6, 2012, Guyana Frontier has signed a definitive share purchase agreement to acquire Falcao, located in northern Brazil, by purchasing all of the shares of a subsidiary company of Horizonte.


    Status of the Falcao Acquisition Transaction


    On December 11, 2012, Guyana Frontier submitted to the TSX Venture Exchange ("TSXV") a draft disclosure document that describes the proposed acquisition of Falcao, which contains detailed technical and financial information regarding Guyana Frontier, Falcao and the subsidiary of Horizonte being acquired by Guyana Frontier (the "Filing Statement"). Upon its review and acceptance by the TSXV, Guyana Frontier intends to file the Filing Statement on SEDAR (http://www.sedar.com), and subsequently seek written consent from a majority of its shareholders approving the acquisition of Falcao ("Shareholders' Written Consent"). Following the receipt and confirmation of such Shareholders' Written Consent, Guyana Frontier would complete the acquisition of Falcao in consideration for the issuance to Horizonte of 84,000,000 common shares of Guyana Frontier (the "Consideration Shares") at a deemed price of $0.05 per Consideration Share (the "Acquisition Transaction"). After the closing of the Acquisition Transaction, and including the 8,000,000 common shares purchased by Horizonte in the private placement announced on November 6, 2012, Horizonte will beneficially own approximately 47.1% of the issued and outstanding common shares of Guyana Frontier. Closing of the Acquisition Transaction is now anticipated to occur in January 2013.


    The Acquisition Transaction is subject to the acceptance of the TSXV, and the Consideration Shares issued by Guyana Frontier to Horizonte will be subject to a four month trading restriction pursuant to applicable securities laws and the policies of the TSXV. The Consideration Shares will also be subject to escrow requirements pursuant to the policies of the TSXV.


    Potaro-Maple Creek Property


    In November 2012, Guyana Frontier terminated its lease agreements with the vendors of the Maple Creek, Pepper Creek, Little Uewang, Queen of Diamonds and Alphonso-Parks properties, collectively known as the Potaro-Maple Creek property ("Potaro"), due to the ongoing costs of maintaining Potaro. At the same time, Guyana Frontier completed purchase and sale agreements for its wholly-owned mining equipment located at Potaro property for gross proceeds to Guyana Frontier of GUY$24,000,000 (US$120,000), subject to a 12.5% commission payable to an agent of Guyana Frontier. As a result of the termination of all the property lease agreements and completion of the sale of its mining equipment at Potaro, Guyana Frontier holds no further interest in Potaro.


    Guiana Shields Resources Properties


    Guyana Frontier holds an option to acquire a 100% interest in the Guiana Shield Resources Inc. ("GSR") properties, pursuant to a property option agreement between Guyana Frontier and GSR dated August 15, 2009 (the "GSR Agreement"). Guyana Frontier can acquire a 100% interest in the GSR properties by issuing GSR an aggregate of 5,000,000 common shares and paying GSR an aggregate of US$700,000 (see Guyana Frontier news releases dated April 6, 2009, May 28, 2009 and January 5, 2010). In addition, Guyana Frontier will issue GSR 1,000,000 common shares on the issuance of a mining licence in any project area, and pay a supplemental amount of US$1.00 for each ounce of gold set out in the mineral resource estimate contained in the feasibility study submitted to the Guyana Geology and Mines Commission (the "GGMC") in respect of the application of such mining licence. GSR will also retain a 3% net smelter returns royalty in respect of the GSR properties, which Guyana Frontier may purchase back the first percentage point for US$1.0 million, US$2.0 million for the second percentage point, and US$3.0 million for the final percentage point. Guyana Frontier has made the required payments and share issuances necessary to effect the early exercise of the option granted pursuant to the GSR Agreement, and is currently awaiting formal acknowledgement from GSR regarding the early exercise of the option.


    On August 1, 2010, Guyana Frontier entered into a separate property option agreement (the "Otomung Agreement") with GSR, where it can acquire a 100% interest in the Otomung property by issuing GSR an aggregate of 500,000 common shares and paying GSR an aggregate of US$125,000 (see Guyana Frontier news release dated November 29, 2010). Guyana Frontier has made the required payments and share issuances necessary to effect the early exercise of the option granted pursuant to the Otomung Agreement, and is currently awaiting formal acknowledgement from GSR regarding the early exercise of the option.


    In April and August 2012, Mulgravian Ventures Corporation, Guyana Frontier's optionee for the GSR properties, surrendered back to Guyana Frontier 10 prospecting licences within the GSR property portfolio, namely the Aunama, Arawini, and Otomung properties, while retaining the Whana and Masawaki properties. In August 2012, at the time of their anniversary dates, Guyana Frontier submitted renewal applications for certain of the surrendered prospecting licences to the GGMC. Subsequent to the submission of the renewal applications, Guyana Frontier returned all 8 of the Aunama and Arawini licences back to GSR, due to the cost of maintaining and exploring those licences. Guyana Frontier intends to retain the two Otomung licences, and awaits notice from the GGMC on the status of their renewal.


    http://www.guyanafrontier.com/…Provides-Corporate-Update


    Grüße GW

    Canadian Properties


    Beginning in March 2011 and up to October 2012, Guyana Frontier surrendered all of its Canadian properties back to their respective vendors, with the exception of the Favourable Lake Silver-Gold Project ("Favourable Lake"), located in the Red Lake Mining Division approximately 200 kilometres north of Red Lake, Ontario. On April 20, 2009, Guyana Frontier and Gold Canyon Resources Inc. ("Gold Canyon") executed a joint venture agreement, where Guyana Frontier initially held a 60% interest, and Gold Canyon held a 40% interest in Favourable Lake. Under the terms of the joint venture agreement, Guyana Frontier acts as operator at Favourable Lake and solely funded exploration programs in 2010 and 2011. Because Gold Canyon did not contribute funding to these exploration programs, Gold Canyon's participating interest was diluted to 27.0%, while Guyana Frontier now holds a 73.0% interest in Favourable Lake.


    About Falcao


    Falcao consists of three exploration permits and one exploration permit application totalling approximately 32,460 hectares (80,209 acres) located in the Carajas Mineral Province of northern Brazil. The Project lies within the eastern extension of the Serra do Inaja greenstone belt discovered by Mineracao Colorado, (BHP Minerals) in the mid-1980s and covers a very large (more than 40 square kilometres) historical multi-point gold, silver and copper geochemical anomaly. In 2011, Horizonte as operator completed a 15-hole, 3,663 metre drilling program at Falcao (for drilling results, see Guyana Frontier News Release dated November 6, 2012).


    Falcao is subject to an option agreement (the "AngloGold Option Agreement") with AngloGold Ashanti Limited ("AngloGold"), one of the world's largest gold producers, whereby AngloGold can earn an initial 51% interest in the Project by incurring US$4.5 million in exploration expenditures on the Project. AngloGold has completed expenditures of over US$3.8 million to September 30, 2012, and has a work commitment of approximately US$700,000 remaining.


    About Horizonte


    Horizonte is an AIM and TSX-listed mineral exploration and development company focused on nickel and gold projects, principally in Brazil. Horizonte has two committed major mining partners: Teck Resources Limited, a major strategic shareholder in the company, and AngloGold, a joint venture partner on selected projects.


    Horizonte's principal asset is its wholly-owned Araguaia nickel project located in Pará State in Brazil. In January 2012, Horizonte released an updated National Instrument 43-101 compliant nickel mineral resource, which included an Indicated Mineral Resource of 39.3 million tonnes grading 1.39% nickel together with an Inferred Mineral Resource of 60.9 million tonnes grading 1.22% nickel, both at a 0.95% nickel cut-off.


    About Guyana Frontier


    Guyana Frontier is a TSXV-listed public mineral exploration company focused on the exploration, discovery and development of precious metals deposits in Guyana and Brazil, South America. Guyana Frontier began acquiring interests in Guyanese exploration properties in 2007, and now holds rights to obtain working interests in approximately 209,824 acres (84,915 hectares) of prospective lands in Guyana.


    Guyana Frontier's primary goal is to develop a significant gold resource at the Marudi Mountain Gold Project in located in southern Guyana, and to explore its other projects in Guyana and Brazil with joint venture partners. For further information about Guyana Frontier, please visit our website at http://www.guyanafrontier.com or contact Warren Stanyer, President and CEO, at (604) 558-0077.


    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.


    Grüße GW

    Der Erwerb von falcao scheitert anscheinend, weil man sich nicht über das Zusammenlegungsverhältnis der Aktien von GYG einigen kann. Seltsam...
    http://www.guyanafrontier.com/…e=2012/01/01...2012/12/31
    (Nachricht vom 31.12.2012)
    Aus der vorhergehenden Nachricht vom 24.12. ergibt sich, dass bei der entscheidenden HV nur 28,8% des Kapitals vertreten waren. Horizonte hätte durch das Geschäft 47,1% bekommen, die Gesellschaft also beherrscht.


    Gruß! Fritz

    „Pressefreiheit ist die Freiheit von zweihundert reichen Leuten, ihre Meinung zu verbreiten.“ — Paul Sethe. Leserbrief SPIEGEL, 5. Mai 1965.

    Guyana Frontier Mining Corp. berichtet heute, dass Evangelos (Gelly) Gnissios mit Wirkung vom 31. Dezember 2012 zum neuen Präsidenten und Geschäftsführer ernannt worden ist. Herr Gnissios ist zur Zeit der korporative Sekretär von Guyana Frontier und Mitglied des Verwaltungsrats. Er war seit dem 1. Juli 2012 Chief Financial Officer; die Gesellschaft sucht aktiv nach einem Nachfolger.


    Grüße GW

    Goldwasser, ich weiß auch nichts. Hatte seit Montag kein Internet (Telekom-Fehler) und jetzt erst flüchtig geschaut. Mein Eindruck ist, dass Präsident und Vizepräsident das Geschäft mit Horizonte betrieben hatten, dass dieses am Widerstand von Aktionären gescheitert ist und sie nun die Konsequenzen ziehen (müssen). Eine so billige de-facto-Übernahme hätte mir auch nicht gefallen, das habe ich ja angedeutet. Warum die Zusammenlegung der Aktien 4 zu 1 (so die HV) statt nach Ermessen des Managements (so der deal) für Horizonte unannehmbar gewesen sein soll, ist mir schleierhaft; vermutlich wird das nur vorgeschoben. Der Hintergrund bleibt dunkel, ebenso was der Vorgang für die Zukunft der Gesellschaft bedeutet. Warten wir auf die Eröffnungen des neuen Managements.


    Gruß! Fritz

    „Pressefreiheit ist die Freiheit von zweihundert reichen Leuten, ihre Meinung zu verbreiten.“ — Paul Sethe. Leserbrief SPIEGEL, 5. Mai 1965.

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