11 Canadian firms on gold hunt in Guyana

May 25, 2026 News

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…15.7 million ounces identified across five projects

By Renay Sambach

(Kaieteur News) Over the years, Guyana’s mineral wealth and “mining-friendly jurisdiction” has attracted significant foreign investment, leading to almost a dozen Canadian companies engaged in gold mining here.

About 11 Canadian firms are currently advancing gold projects across Guyana’s mining districts, collectively controlling millions of ounces of gold at various stages of development – with some nearing gold production.

Most of these projects are located in Region Seven, the Cuyuni-Mazaruni Mining District, a region recognised for its significant gold potential. For five of the 11 companies, the Proven and Probable Reserves and indicated Mineral Resource Estimate (MRE) amount to 15.7 million ounces of gold. The remaining companies are still in the exploration stage and have not reached the point of announcing resource estimates.

Omai Gold Mines Corp. – Omai Project

Since its return to Guyana’s mining sector in 2020, Omai Gold Mines Corp. through its subsidiary Avalon Gold Exploration Inc., has identified 2.5 million ounces of gold in the indicated category at the historic Omai Gold project.

Omai holds 100% interest in the project located in Region Seven. The property hosts two orogenic gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusion-hosted Gilt Deposit.

In April 2026, the company announced an updated MRE for the overall gold project showing 400,000 ounces increase above the August 2025, MRE – bringing the project’s indicated MRE to 2.5 million ounces.

The updated MRE puts the Wenot Indicated MRE at 1,453,000 ounces, and the Wenot Inferred MRE at 3,999,000 ounces. At the Gilt Deposit, the Inferred MRE stands at 1,465,000 ounces, and its Indicated MRE is now at 1,042,000 ounces. Overall, Omai’s updated MRE estimates 2,495,000 ounces of gold in the indicated category and 5,465,000 ounces in the inferred category.

Omai is now engaged in a 50,000-meter drill programme at the Wenot deposit focusing on testing the limits of the deposit and to convert the large Inferred MRE to Indicated MRE.

Aris Mining – Toroparu Project

The Toroparu Project also located in Region Seven, is one of the largest undeveloped gold deposits in Guyana. This project is being developed by ETK Inc. a subsidiary of Aris Mining Corporation.

This project is expected to produce an average of 235,000 ounces of gold per year over more than two decades, yielding approximately five million ounces of gold, 4.9 million ounces of silver, and 260 million pounds of copper over its mine life.

The company has already begun pre-construction activities at the site, including the construction of a bridge at the Puruni River crossing and ongoing road works to improve access to the project. The Toroparu prefeasibility study is expected to be completed this year, as the company positions for a potential construction decision by early 2027.

G Mining Ventures (GMIN) & G2 Goldfields Inc. – Oko Gold projects

G Mining Ventures Corp. (GMIN) is currently in the process of acquiring G2 Goldfields, to combine the companies’ adjacent gold projects in Region Seven mining district.
On April 9, G2 entered into a definitive agreement with GMIN, valued at approximately US$2.2 billion (C$3 billion).

The transaction will consolidate the two adjacent gold projects in Guyana: G2’s Oko-Ghanie Project and GMIN’s fully permitted and fully financed Oko West Project.
Acquiring G2 will bring the Combined Measured & Indicated Mineral Resources of 7.0 million ounces and Inferred Mineral Resources of 2.3 million ounces. The deal will also expand GMIN’s footprint in Guyana by 293 square kilometers (km²), creating a combined contiguous land package of over 362 km².

GMIN’s Oko West project is estimated to hold 4.64 million ounces of proven and probable reserves. The project is expected to produce about 350,000 ounces of gold annually over a 12.3-year mine life. G2’s Preliminary Economic Assessment (PEA) released last year, outlines a combined open pit and underground operation with a 14-year mine life and estimate total production of 3.2 million ounces gold. Annual production is projected to average 298,000 ounces during years 3 through 10.

The deal is expected to close in June 2026, subject to shareholder and court approvals. Meanwhile, the targeted timeline for first gold production at Oko West is set for the second half of 2027.

Mako Mining – Eagle Mountain Gold Project

Earlier this year, Mako Mining Corp. through its subsidiary Stronghold Guyana Inc. submitted to the Environmental Protection Agency (EPA), its Environmental Impact Assessment (EIA) for the Eagle Mountain Gold Project, which is located about eight kilometres south of Mahdia in Region Eight (Potaro-Siparuni).

Mako acquired the project through its 2024 takeover of Goldsource Mines Inc., inheriting a resource base of nearly 1.2 million ounces of gold (indicated) and 582,000 ounces (inferred).
The Eagle Mountain Gold Project is in the advanced-stage gold exploration stage and is planned for an open pit gold mine over a 15-year period.

Stronghold Guyana holds a prospecting licence on the Eagle Mountain Property, referred to as the Eagle Mountain Prospecting Licence (EMPL) totalling 48 km².
According to the EIA, the company will rely on up to six flights per week to support operations. Gold doré bars produced at the project’s processing plant will be transported by air either from the Mahdia airstrip or from the project site to Georgetown. From there, it is expected that the doré will be exported to foreign refineries pursuant to standard terms and conditions of Mineral Agreements with the Government of Guyana.

Mako Mining had disclosed that gold production at the Eagle Mountain project will commence in 2027.

Moreover, Guyana’s mining laws caters for either five or eight per cent royalties to be paid to the State from the large-scale mining companies operating here. The laws stipulate that when the price of gold went beyond US$1000 per ounce, large-scale mining companies’ royalty would raise from five to eight per cent.
The following projects are still in the exploration and development stage.

Fortuna Mining – Quartzstone Project

Fortuna Mining Corp. is one of the newest additions to Guyana’s mining industry. To establish its presence here, Fortuna recently paid a Guyanese firm, Qstone Inc.US$5 million as part of a deal that could see it acquiring up to 70% interest in the Quartzstone Project.

The project spans 295 km² and is located in the greenstone belt of north central Guyana.
As per the agreement, the company can earn an initial 51% stake by funding exploration and completing 60,000 metres of drilling within four years, and may increase its interest to 70 per cent by solely funding a feasibility study within three years of exercising the first option and continuing to pay all licence fees.

President and Chief Executive Officer (CEO) of Fortuna Jorge A. Ganoza commented, “We are excited to establish a presence in the Guyana Shield, a highly prospective region with a strong history of gold discoveries.”

Tajiri Resources – Yono project

Just last week, Tajiri Resources Corp. reported that it is now fully-funded to advance its gold project in Guyana, which it labeled as an “A High-Potential Gold Exploration Opportunity in Guyana.”

This company controls the Yono Gold Project, which consists of one mining permit covering 1.2 km² in Region Seven.
Results from the first trenching exercise conducted in 2025 returned high-grade gold intercepts. In its latest update, Tajiri said from the recent closing of two non-brokered private placements it has strengthened its cash position and enhanced its capacity to pursue high-impact opportunities, and continue aggressive exploration and development work at its Yono Gold Project in Guyana.

Greenheart Gold – Gold Hill Project

Greenheart Gold was formed in July 2024, as a spin-off from a business combination between fellow Canadian companies Reunion Gold and GMIN. Greenheart Gold was created to hold all of Reunion’s assets other than the Oko West Project which is now controlled by GMIN.

Greenheart is focused on early-stage exploration within the geologically rich but historically underexplored Guiana Shield.
Greenheart on April 20, announced it has upsized its non-brokered private placement to raise funds to support exploration in Guyana and Suriname, as well as potential acquisitions across the Guiana Shield.

Earlier this year, Greenheart Gold announced it entered into an option agreement with “arms’ length third parties” to acquire a 100% interest in the Gold Hill Project in Guyana, while terminating its option agreements for the Tamakay and Abuya projects after concluding that the deposits do not meet the size and scale required for economic development.
The Gold Hill property covers roughly 40 km² in the Mazaruni mining district in north-western Guyana.

Lighthouse Gold – Aurora NW Gold Project

Lighthouse Gold Corp. formerly named Alerio Gold Corp. as of December 2025, this month announced that it has moved from acquisition to active exploration at its Aurora NW Gold Project located in Region Seven.

In February this year, Lighthouse entered into a definitive option agreement to acquire 100% interest in the Aurora project, comprising of associated mineral rights, permits and claims.
Phase I of the exploration programme is aimed at identifying mineralised corridors and generating drill-ready targets. Work includes the compilation and reinterpretation of historical data, geological mapping, structural analysis, and geochemical sampling through rock, stream, and soil surveys.

Initial trenching and drilling are expected later in the exploration season. Lighthouse is also evaluating potential additional acquisitions in the surrounding area to consolidate prospective ground within the fertile Guyanese greenstone belt.

Gold Port – Groete Gold Copper Project

Gold Port Corporation controls the Groete Gold Copper Project, which spans across 13.8 km² of mining lands about 10 kilometres west of the Essequibo River.
A 2019 report on the project states that the Groete Project hosts an inferred MRE of 1.57 million gold-copper equivalent ounces, contained in 74 million tonnes.

In April, the Guyana Geology and Mines Commission (GGMC) renewed three mining permits for Gold Port. The company is now engaged in constructing its camp facility and preparing the site for the construction of a road to make access to the project easier.

Gold Port had disclosed that rising gold prices seen in recent years encouraged the company to renew its interest in the gold project in Guyana.

Golden Shield Resources

Golden Shield Resources controls the 54.57 km² Marudi Mountain Property located in the Rupununi District of southwestern Guyana.

Golden Shield commenced exploration on the Marudi Mountain Property in late 2021, completing a preliminary, ‘Phase 1’, drill programme.

Recent updates from the company, focused on reporting stock option grants and its fund-raising exercises.

Golden Shield in April said it intends to use the net proceeds raised, to advance permitting at the company’s flagship Marudi Mountain Gold Project, and for general working capital.

According to Golden Shield, the project contains an extensive mineralised gold system centred on the Mazoa Hill Deposit, with a historical resource of 350,000 ounces of gold, and multiple highly prospective target areas. There are also other major prospects that were already identified by current and previous operators, as well as new targets.

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• Fortuna Mining, G2 Goldfields Inc., GMIN, Gold Mining, Guyana’s gold rush, Oko West project

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