ASARA RESOURCES LIMITED — AGM Information 2011

Nov 16, 2011

ASX/Media Announcement

17 November 2011

Chair’s Address to 2011 Annual General Meeting

Once again, it is my pleasure to welcome you to the 2011 Annual General Meeting of Golden Rim.

Over the past 20 months or so, Golden Rim closely followed its systematic exploration strategy in West Africa. The Company completed regional geochemical sampling work, mapping, aeromagnetic and radiometric surveys in order to generate both prospective and measured targets for drilling. This major, methodical exercise took the Company’s field staff almost all of the last West African field season to complete. It is, I feel, this disciplined and targeted approach to exploration that has attracted the respect of our peers and support of investors.

Following on from the regional exploration work, Golden Rim also conducted 5 drilling programs. Exciting drill intercepts were received and are being followed-up along with other drill targets during the field season now commenced. Around 55,000m of reverse circulation and diamond drilling has been planned for this work. So the coming months are certainly going to be an active and exciting period for us. You will shortly hear more from our Managing Director, Craig Mackay about his team’s work in West Africa and Sweden and forthcoming activities.

As signalled in previous Company presentations, part of our strategy is to rationalise the Company’s land holdings in West Africa. Due to our early mover status and excellent in-country connections, we have been able and continue to accumulate an excellent portfolio of prospects. As announced this week, Golden Rim has agreed to sell 5 permits in Burkina Faso to Riedel Resources Ltd. Although not core permits for the Company, we nevertheless consider the prospects to be highly prospective and for that reason, Golden Rim will, upon completion of that transaction, become a substantial shareholder in Riedel a company with an experienced and respected board and management.

Share price volatility has obviously been a concern but notwithstanding that Golden Rim is a pure exploration Company, I consider that we have faired better than most. Again this is a reflection of a supportive shareholder base and good prospects for value creation.

On behalf of the Board and shareholders, I extend my thanks and congratulations to Craig Mackay and his team in Australia, Mali and Burkina Faso for their excellent work over the past 2 years in particular. I sincerely thank all shareholders once again for your continued support and I await with great interest the results of our busy field season in West Africa.

- ENDS-

Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 10 Outram Street, West Perth WA 6005, Australia I PO Box 378, West Perth WA 6872, Australia www.goldenrim.com.au I info@goldenrim.com.au I T + 61 8 9481 5758 I F + 61 8 9481 5759

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Further Company Information

E: info@goldenrim.com.au W:goldenrim.com.au

Capital Structure

Issued Shares: 359,396,731 Unlisted Options: 39,650,000

Major Shareholders

Royal Group, Abu Dhabi 13.10% Rick Crabb Group 5.71% Acorn Capital 5.71%

Share Registry

Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153 AUSTRALIA

T: + 61 8 9315 2333 F: + 61 8 9315 2233

E: registrar@securitytransfer.com.au W: securitytransfer.com.au

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