ASARA RESOURCES LIMITED — AGM Information 2011

Nov 16, 2011

Poised for Success in West Africa

AGM Presentation 17 November 2011

www.goldenrim.com.au

Disclaimer & Competent Person Statement

This presentation has been prepared by Golden Rim Resources Limited (ABN 39 006 710 774) (“Golden Rim”) based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Golden Rim, its related bodies corporate, its or their directors, employees or agents, advisers, nor any other person accepts any liability for any loss arising from the use of or reliance on this presentation or anything contained in, omitted from or otherwise arising in connection with it, including, without limitation, any liability arising from fault or negligence on the part of Golden Rim, its related bodies corporate or its or their directors, employees or agents.

The distribution of this document in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions.

This presentation is not an offer, invitation, solicitation or recommendation to invest in Golden Rim and neither this document nor anything in it shall form the basis of any contract or commitment. The information in this presentation does not take into account the investment objectives, financial situation and particular needs of investors and does not constitute investment, legal, tax or other advice. Before making an investment in Golden Rim an investor should consider whether such an investment is appropriate to their particular investment objectives , financial situation and particular needs and consult a financial adviser if necessary. This presentation does not purport to constitute all of the information that a potential investor may require in making an investment decision. Investments are subject to investment risk, including possible delays in repayment and loss of income or principal invested. Golden Rim does not guarantee the performance of the investment referred to in this presentation, the repayment of any capital invested or any particular rate of return.

Any securities described in this presentation may not be offered or sold in the United States absent registration under the US Securities Act 1933 or exemption from registration. Neither this document nor any copy thereof may be taken or transmitted in the United States or distributed, directly or indirectly, in the United States or to any US person including (1) any US resident, (2) any partnership or corporation or other entity organised or incorporated under the laws of the United States or any state thereof, (3) any trust of which any trustee is a US person, or (4) any agency or branch of a foreign entity located in the United States.

Nothing in this presentation is a promise or representation as to the future. Statements or assumptions in this presentation as to future matters may prove to be incorrect and differences may be material. Golden Rim does not make any representation or warranty as to the accuracy of such statements or assumptions.

You acknowledge that circumstances may change and the contents of this presentation may become outdated as a result. Golden Rim accepts no obligation to correct or update the information or opinions in this presentation. Opinions expressed are subject to change without notice.

By accepting this document, you agree to be bound by the above limitations.

The information in this public report that relates to exploration results and mineral resources is based on information compiled by Mr Craig Mackay who is a member of The Australasian Institute of Mining and Metallurgy. Mr Mackay is an employee of Golden Rim Resources Ltd. Mr Mackay has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Mackay consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Information relating to exploration targets and Inferred Resources at Falun is based on information compiled by Chris Gee, BSc(Hons), Phd who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Gee is an independent mining consultant who has more than five years experience relevant to the style of mineralisation and type of deposit being reported and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the „Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves‟ (the JORC Code). This report is issued with the prior written consent of the Competent Person as to the form and context in which it appears.

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Company Highlights

• >5,000km[2 ] licence holding in Burkina Faso and Mali

• 6 key gold and copper-gold projects

• Drill intercepts »»» resource definition stage

• Experienced management and exploration team

• Well resourced offices in Ouagadougou and Bamako

• Aggressive exploration program has commenced following the rainy season ( +55,000m of RC & diamond drilling)

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Experienced Management Team

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 Rick Crabb , Chairman

 Resource sector lawyer with over 30 years experience; Current Chairman at Paladin Resources, Councillor of WA Division of Australia Institute of Company Directors and director of Ashburton Minerals and Otto Energy.

 Craig Mackay , Managing Director

 Geologist with over 23 yrs experience; previous positions with major resource companies, including Shell , Acacia Resources, AngloGold.

 Gilbert Rodgers , Executive Director

 Chartered Accountant and involved in the mining industry for more than 27 years; previously a director for a number ASX listed companies.

 Glenister Lamont , Non Executive Director

 Mining Engineer; previously General Manager of Ashton Mining and Executive Director at UBS AG.

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 Hayley Butcher , Company Secretary

 Chartered Secretary and governance professional. Experience with a number of ASX listed companies.

 Peter Olubas , Exploration Manager

 Geologist with 22 years in exploration and mining. Previously worked for a number of major mining companies and has experience in SE Asia, PNG, Australia and Africa.

 Michel Bal, West African Operations Manager

• Geochemist; >30 yrs in the mining industry in West Africa. Involvement in gold, base metals, iron ore, semi-precious and precious stones, industrial minerals and tar-sand projects.

 Richard Zongo, Country Manager – Burkina Faso

• Geologist; 23 years of West African experience including 15 years at senior level with publicly listed Canadian and Australian exploration companies in Burkina Faso, Mali, Niger and Ghana.

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 Nadir Al Hammadi , Non Executive Director

• Director of PAL Technology Services, a member of the Royal Group conglomerate and GMR major shareholder.

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 Sekou Konate, Representative – West Africa

• More than 20 years in Malian Civil Service. Consultant to Mining Industry in Mali since 1992. Clients include SEMAFO, Wega Mining, AFCAN and African Gold Group.

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Corporate Snapshot (ASX:GMR)

Share Price Performance

Major shareholders

Institutional Investors	18%
Royal Group	13%
Board & Management	9%
Retail	60%

Capital Structure (as at 15 November 2011)

ASX Code	GMR
Share price	A$0.13
52 week low/high	A$0.10 - A$0.24
Issued capital
- Shares on issue	359.4m
- Unlisted options	39.6m
Market capitalisation (undiluted)	A$47m
Cash	A$3.0m
Debt	-
Enterprise value	A$44m

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Major Position (>5,000km[2] ) in West Africa

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Balogo Project (Burkina Faso)

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• Major shear-hosted system

• Active artisanal mining at Balogo Hill

• Major copper & gold soil anomalies

• 2 phases of RC drilling completed (7,100m)

• Better copper & gold intercepts:

• Cobra Shear Zone:

  • 11m @ 2.15 g/t gold, 2.75% copper Incl. 3m @ 5.83 g/t gold and 8.15% copper

  • o 6m @ 9.97 g/t gold

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 Netiana Shear Zone:

• 5m at 32.55 g/t gold, 0.14% copper Incl. 1m at 138.8 g/t gold

• 8m @ 5.75 g/t gold

 Porphyry:

• 24m @ 1.43 g/t gold, 0.88% copper (EOH)

Next

• 30,000m Phase 3 RC drilling underway

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Balogo Hill Prospect at Balogo

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Netiana Shear Zone at Balogo Hill

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Drilling the Netiana Shear Zone at Balogo

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Highest gold anomalies at Balogo untested

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Yako Project (Burkina Faso)

Adjacent to Riverstone Resource‟s (TSX: RVS) 1.93Moz Karma Project

• Extensive artisanal mining

• Better intercepts from Pelle North Prospect:

• 19m @ 4.08 g/t gold (incl. 1m @ 38.1 g/t gold

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• 11m @ 8.7 g/t gold

• 16m @ 1.4 g/t gold

• Multiple zones and mineralisation open along strike and at depth

• Strike extent of RVS‟s Kao resource a priority (magnetic low anomaly)

Next

• Aeromagnetics; systematic geochemistry

• Auger and 3,000m RC drilling

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Pelle North Prospect at Yako

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Sebba Project (Burkina Faso)

• Active artisanal workings

• 3 major regional shear zones (over 140km )

• 36km of shear explored

• Extensive gold-in-soil anomalies

• New 7.1km x 0.7km soil anomaly at Komondi with assays up to 14.5 g/t gold

• High grade rock chips up to 78.5 g/t gold

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• Significant RAB intercepts up to 8m @ 2.43 g/t gold

Next

• Geochemical sampling over shear zones

• Auger and 6,500m RC drilling

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Sebba Project (Burkina Faso)

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Diapaga Project (Burkina Faso)

• 4 permits covering 960km[2]

• “Diapaga” greenstone belt one of most under explored in Burkina Faso

• No modern exploration

• Major regional shear zones

• New artisanal diggings commenced a few months ago

Next

• Geochemical sampling over shear zones

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Sepola Project (Mali)

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Linnguekoto Prospect at Sepola

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• Artisanal mining in shafts

• High grade: rock chips up to 1,205 g/t gold

• Drill intercepts up to 18m @ 8.19 g/t gold

• Recent discovery of gold in broad quartz stock works hosted in greywacke

• Trench intercepts include:

• 16m @ 3.15 g/t gold

• 32m @ 2.24 g/t gold (25m true width)

• Rock chips include: 14.8 g/t, 13.35 g/t and 10.45 g/t gold

• Potential for multiple, parallel zones of gold mineralisation

Next

• Additional trenching underway

• 4,000m RC drilling

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Linnguekoto Prospect at Sepola

Greywacke bed with >2km of strike

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Faraba Project (Mali)

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• 40km structural corridor with gold mineralisation

• GMR has major gold-in-soil anomalies has over 8km (up to 12.6 g/t gold )

• Value of licence holding enhanced by recent progress of African Gold Group (TSXV:AGG) at Kobada

• Kobada Preliminary Scoping  NPV $216.9M (after tax)

• IRR 90.57% (after tax)

  • 20,000 tpd gravity plant

  • 120,000 oz/yr

• Kobada Feasibility by 28 June 2012

• *National Instrument 43 ‐ 101 compliant Inferred Resource of 18.4 Mt tonnes at 1.25 g/t gold for 740,000 ounces announced by TSX listed company, African Gold Group, at their Kobada prospect

Next

• 10,000m aircore drilling

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Faraba Project (Mali)

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• Nugget photo sourced from African Gold Group website

Falun Project (Sweden)

• Royal Falcon Mining LLC* 51% and has elected to increase to 75%

• 7,171m diamond drilling completed

• Drilling intercepts include:

Eastern Zone (EZ)

• 11.6m @ 61.2 g/t gold, 1.2% copper and 0.09% bismuth

• 21.4m @ 6.8 g/t gold, 0.9% copper and 0.07% bismuth

Western Zone (WZ)

• 17.2m @ 1.9% copper, 2.3 g/t gold, 56.4 g/t silver, 0.8% lead, 3.8% zinc (open)

• 33.1m @ 4.1g/t gold, 1.5% copper, 42 g/t silver

• Recent drilling on WZ intersected wide zones of mineralisation (down-dip) e.g. 175.5m at 0.42% copper and 0.42 g/t gold

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*Royal Falcon Mining LLC (Royal Group 65%, Golden Rim 35%)

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Falun Resources

 Block modelling/ initial resource estimate completed

• Upper portion of the Eastern Zone (0m to 150m RL)

Inferred Resource of 580,000 tonnes* at 2.4 g/t gold, 0.6% copper, 3.4 g/t silver, 210 g/t bismuth and 40 g/t selenium for 44,000oz of gold, 3,500t copper, 63,000oz silver, 270,000lbs of bismuth and 54,000lbs (cut-off grade of 0.7 g/t gold)

• • Lower portion of the Eastern Zone ( 150m to 280m RL) Exploration Target of between 500,000 and 800,000 tonnes* of copper ore with a grade of between 0.4 and 0.6% copper and between 0.2 and 0.3 g/t gold (cut-off grade of 0.3% copper)

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- Western Zone (0m to 220m RL)

Exploration Target of between 1.4 million and 2 million tonnes* of copper ore with a grade of between 0.5 and 0.8% copper (cutoff grade of 0.3% copper)

 Exploration Targets will be converted to resources with additional drilling

 Scope to expand resources considerably with deeper drilling

• All Inferred Resources and exploration targets are reported in accordance with the JORC Code (2004). The exploration target has been identified from historical drilling data, old mine records and limited recent drilling and is reported under the guidelines of Clause 18 of the JORC Code (2004). It should be noted that this exploration target is conceptual in nature and should not be taken or construed as a Mineral Resource or Ore Reserve. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource

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Next at Falun Project

• Continued consultation with major stakeholders (Stora Kopparberg Foundation, Stora Enso, government)

• Scoping for underground refurbishment to allow underground drilling on -95m RL and -145m RL levels

• Drilling of Western Zone below 200m to increase resource (wedge drilling from surface followed by underground drilling)

• Drilling of gravity targets

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Reasons to Invest

• Major position in Burkina Faso and Mali

• West Africa is the fastest growing gold producing region in the world

• Golden Rim is not relying on a single project for success

• Experienced in-country teams enables “fast track” exploration

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• Significant drilling program for 2011-2012 field seaso

• Value uplift with resource delineation (short-term potential at Balogo, Sepola, Yako)

• Golden Rim has an excellent cornerstone investor and partner in Royal Group (Abu Dhabi)

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