Guyana Frontier Announces Closing of Flow-Through Private Placement

VANCOUVER, March 4 /PRNewswire/ –  Guyana Frontier Mining Corp. (“Guyana Frontier”, formerly Shoreham
Resources Ltd.) is pleased to announce the closing of a non-brokered
private placement (the “Private Placement”) that raised gross proceeds
of $350,000 through the sale of 700,000 flow-through units (“FT Units”)
at a price of $0.50 per FT Unit.  Each FT Unit is comprised of one
common share of Guyana Frontier to be issued on a “flow-through” basis
under the Income Tax Act (Canada) and one-half of one common share
purchase warrant (each whole warrant a “Warrant”). Each whole Warrant
will be exercisable to acquire one additional non-flow-through common
share of Guyana Frontier at any time for a two year period following
issuance, at an exercise price of $0.70 per share in the first year and
$0.75 per share in the second year.

The proceeds of the Private Placement will be used for exploration of
Guyana Frontier’s Canadian mineral properties. All securities issued in
the Private Placement will be subject to a four-month hold period
pursuant to applicable securities laws. 

.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 release contains “forward-looking statements” within the meaning of
applicable Canadian securities legislation.  Forward-looking statements
include, but are not limited to, statements that address activities,
events or developments that Guyana Frontier expects or anticipates will
or may occur in the future, including such things as the future
expenditures of the proceeds raised in the Private Placement, future
mineral exploration activities, future business strategy, competitive
strengths, goals, expansion, growth of Guyana Frontier’s businesses,
operations, plans and with respect to exploration results, the timing
and success of exploration activities generally, permitting time lines,
government regulation of exploration and mining operations,
environmental risks, title disputes or claims, limitations on insurance
coverage, timing and possible outcome of any pending litigation and
timing and results of future resource estimates or future economic
studies.

Often, but not always, forward-looking statements can be identified by
the use of words such as “plans”, “planning”, “planned”, “expects” or
“looking forward”, “does not expect”, “continues”, “scheduled”,
“estimates”, “forecasts”, “intends”, “potential”, “anticipates”, “does
not anticipate”, or “belief”, or describes a “goal”, or variation of
such words and phrases or state that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved. 

Forward-looking statements are based on a number of material factors and
assumptions, including the receipt of necessary regulatory approvals
that counterparties to material agreements will duly perform their
obligations thereunder, the results of drilling and exploration
activities, that contracted parties provide goods and/or services on
the agreed timeframes, that equipment necessary for exploration is
available as scheduled and does not incur unforeseen break downs, that
no labour shortages or delays are incurred, that plant and equipment
function as specified, that no unusual geological or technical problems
occur, and that laboratory and other related services are available and
perform as contracted. Forward-looking statements involve known and
unknown risks, future events, conditions, uncertainties and other
factors which may cause the actual results, performance or achievements
to be materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or implied
by the forward-looking statements. Such factors include, among others,
the interpretation and actual results of current exploration
activities; changes in project parameters as plans continue to be
refined; future prices of minerals; possible variations in grade or
recovery rates; failure of equipment or processes to operate as
anticipated; the failure of contracted parties to perform; labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing or in the completion of
exploration, as well as those factors disclosed in the company’s
publicly filed documents. Although Guyana Frontier has attempted to
identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.

SOURCE Guyana Frontier Mining Corp.