Guyana Precious Metals Appoints Mr. Paul Murphy as Chief Financial Officer

    




 TORONTO, Aug. 22, 2012 /CNW/ - Guyana Precious Metals Inc.  ("Guyana" or the Company") is pleased to announce the appointment of Paul J. Murphy, B.Comm, CA, as  the new Chief Financial Officer (CFO). Mr. Patrick Sheridan, President  and Chief Executive Officer states "Guyana Precious Metals is pleased  to welcome Mr. Murphy to the Company. The addition of Mr. Murphy to our  executive management team is a significant milestone in the corporate  development of our Company as we grow our team." 

 Mr. Carmelo Marrelli has resigned as CFO effective immediately. The  Company wishes to thank Mr. Carmelo Marrelli for his past services and  commitment to the Company. 

 Mr. Murphy has significant industry experience gained as a Partner in  PricewaterhouseCoopers LLP and the National Mining Leader in Canada as  well as the Leader for the Western Hemisphere Mining Centre of  Excellence. He has worked almost exclusively in the resource industries  for the past 30 years and has been a leader in industry-specific issues  in areas of financial reporting and controls, governance, operational  effectiveness, SEC reporting issues, financing, valuation and taxation.  Mr. Murphy is currently the CFO and Executive Vice President, Finance  of Guyana Goldfields Inc. (TSX.GUY). Additionally he currently serves  as a Director of Alamos Gold Inc , Continental Gold Limited   and Century Mines Corporation . 

 Mr. Paul Murphy states, "The past decade, in particular, have been  exciting and rewarding times in the mining industry and I am extremely  pleased to join the executive team of Guyana Precious Metals dedicated  to the exploration and development of its gold properties." 

 The Company also announces that it has granted effective August 22, 2012  an aggregate of 1,000,000 options to an officer of the Company with  such options being exercisable until August 22, 2015 at an exercise  price of $0.10. The options vest as 25% immediately and 25% after 6, 12  and 18 months from date of grant. 

 About GPM 

 GPM is led by an experienced management team with demonstrable project  generation and development talents in Guyana. The Company is presently  expanding the exploration and development of its Aremu and Peters Mine  Properties; 2 of the 4 historical past gold producers in Guyana. GPM  maintains an interest in acquiring additional key exploration and  development properties in the country of Guyana. www.gpmgold.com 

  

 Forward Looking Statements - Certain information set forth in this news  release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These  forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Guyana,  including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity  prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory  approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the  preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as  such, undue reliance should not be placed on forward looking  statements. 

Guyana Precious Metals Inc.


CONTACT:  Guyana Precious Metals Inc.Suite 1205141 Adelaide Street WestToronto, Ontario M5H 3L5Attn: John Patrick SheridanTel: [phone]Fax: [phone]E-mail: [e-mail]: www.gpmgold.com 


    

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