Guyana Frontier Announces Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, May 18, 2012 /CNW/ - Guyana Frontier Mining Corp. ("Guyana Frontier") is pleased to announce that it is arranging a non-brokered private placement (the "Private Placement") to raise aggregate gross proceeds of up to $1,000,000 through the issuance of up to 16,666,667 units (each a "Unit") at a price of $0.06 per Unit. Each Unit will be comprised of one common share of Guyana Frontier and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable to acquire one additional common share of Guyana Frontier at an exercise price of $0.10 per share, at any time for a one year period following issuance.

The proceeds of the Private Placement will be used for continued exploration and development of Guyana Frontier's mineral properties and for general working capital purposes. All securities issued in the Private Placement will be subject to a four-month hold period pursuant to applicable securities laws.

A commission and finder's fee of 8% cash and 8% finder's warrants (each a "Finder's Warrant") may be payable to parties at arm's length to the Guyana Frontier that have introduced Guyana Frontier to certain subscribers to the Private Placement. Each Finder's Warrant will entitle the holder thereof to purchase a common share in Guyana Frontier at a price of $0.10 per share, at any time for a one year period following issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offer and sale of the Units has not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless an exemption from such registration requirements is available.

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.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the closing of the Private Placement and the total proceeds to be raised in the Private Placement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including the future state of the financial markets and other economic factors. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE Guyana Frontier Mining Corp.