Here is a news link from Guyana Goldfields today:

Guyana Goldfields Announces Gold Discovery

By Canadian Press
26 Sep 2008 at 04:47 AM GMT-04:00

Toronto-based Guyana Goldfields Inc. (GUY) says it will open a large mine in western Guyana after discovering vast gold deposits.

TORONTO (CP) -- The company said it found reserves of 2.5 million ounces and expects the mine to be profitable for 12 years. Guyana is among the world's top 30 gold producers and officials say the mine will be among the 10 largest in South America.

Prime Minister Samuel Hinds said Thursday the discovery boosts a thriving mining industry. Miners last year produced a record 246,000 ounces of gold, up 30% from the previous year.

Gold is one of Guyana's top exports.

Shares in Guyana Goldfields were up eight cents at $3.10 in morning trading at the Toronto Stock Exchange.

My comments:

If a mine of 2.5 million ounces will be among the 10 largest mines in South America, how important will Marudi Mountain be if SMH is successful to prove up 5 million ounces of bulk tonnage gold with grades of 1 g/t or more? We do not know what the exploration will yield, but the early stage data is very encouraging, and for a junior with a market cap in the range of $5 million, one might conclude the upside is worth a speculative position at this point?

cheers!

Mike Kachanovsky

IR Consultant