ASARA RESOURCES LIMITED — AGM Information 2013

Nov 21, 2013

Focused on Becoming a High Grade Gold Producer in Burkina Faso Annual General Meeting Presentation 22 November 2013

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.

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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.

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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.

Certain statements in the presentation are or maybe “forward-looking statements” and represent Golden Rim’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Golden Rim, and which may cause Golden Rim’s actual performance in future periods to differ materially from any express or implied estimates or projections. 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.

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Key Points

	• High-grade, near surface gold resource at the Netiana Lodes
Near term production	• Metallurgical recoveries> 95%
opportunity at Balogo	• Potential for a low capex, low cost, high margin open pit operation
	• BFS underway and targeting first gold production from a modular plant
	• Potential for satellite high-grade gold deposits around the Netiana Lodes
Upside through exploration	• Discovery of the Panga Lodes (14m at 18.8 g/t gold), 600m north of Netiana • Multiple high grade gold drilling targets at Korongou (~200km NE)
	• Plan to relocate Netiana plant to Korongou
Clear focus, divestment, financial optimisation	• New focus on high grade production at the Balogo and Korongou projects • Divestments of non-core projects in Mali, Ivory Coast and Burkina Faso • Significant cost reduction, including 50% reduction in staff

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Golden Rim Gold Projects

Mali

• •Sepola - 5 permits (186km[2] ) Faraba - 2 permits (64km[2] )

Ivory Coast

•Kongasso* - 1 permit (395km[2] )

• •Koyekro* - 1 permit (400km[2] )

• •Nguessankro* - 1 permit (398km[2] )

Burkina Faso

• •Yako* - 2 permits (320km[2] )

• •Babonga* - 1 permit (102km[2] )

• •Sebba* - 9 permits (1,808km[2] )

GMR’s Landholding in West Africa (>5,000km[2] ) Burkina Faso Ivory Coast

Mali

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5%
17%
78%
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• •Balogo - 3 permits (477km[2] )

• •Korongou - 2 permits (315km[2] )

• •Diapaga - 4 permits (960km[2] )

*Golden Rim plans to sell interests in these projects

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Burkina Faso Projects

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Balogo Project (Burkina Faso)

• Multiple, high grade gold quartz vein lodes

• Some of the highest gold intersections in Burkina Faso

Oxide/Transition RC Intercepts include:

57m at 40.6 g/t gold , including 8m at 245 g/t gold 31m at 65.6 g/t gold , including 6m at 308 g/t gold

22m at 13.6 g/t gold , including 2m at 91.5 g/t gold

Fresh Diamond Intercepts include:

13m at 111 g/t gold , including 4m at 343 g/t gold 25.9m at 12.3 g/t gold , including 1.7m at 172 g/t gold

• Maiden Inferred Resource of 850,000 tonnes at 6.8 g/t gold for 185,000 ounces calculated in February 2013 for the Netiana Lodes (0.5 g/t gold lower cut-off )

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3D Model of the Netiana Lodes at Balogo

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Balogo Project

• Independent Scoping Study completed in March 2013 gives GMR confidence to advance the Balogo Project to BFS

• GMR is contemplating a mining and processing operation from a 100m deep pit on the Netiana Lodes

• Preliminary testwork has demonstrated non-optimised metallurgical recoveries of >95% on samples of Netiana Lodes ore

• Potential for gravity recoveries >50%

• Current preferred processing option is a small 30tph modularised gravity + CIL plant

• Potential for a high grade, low CAPEX, high margin operation

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Balogo Feasibility Study (BFS)

• Mandate signed with RMB Resources for A$4M in funding for the BFS (due diligence underway)

• Environmental Impact Assessment underway (Phase 1 complete)

• Gravity, flotation and metallurgical testwork underway at Gekko

• Gravity stage completed (52.8% recovery into 11.1% of original mass at 0.6mm grind)

• Targeting a low CAPEX, low OPEX plant that avoids a large CIL circuit

• Aiming to complete BFS by mid-2014

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Exploration Upside at Balogo

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• Depth extensions to the Netiana Lodes

• Potential for satellite high grade gold deposits

• Discovery of the Panga Lodes (600m north of the Netiana Lodes)

• BRC270: 14m at 18.8 g/t gold (34m – 48m), including 4m at 63.8 g/t gold

• Associated with a strong 1km long IP resistivity anomaly

• Parallel to Netiana Lodes

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Hole BRC270 – Panga Lodes

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14m at 18.8 g/t gold (34m - 48m) including:

4m at 63.8 g/t gold (34m – 38m); and

1m at 151.0 g/t gold (35m – 36m)

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Korongou Project (Burkina Faso)

• One of most sought after properties in Burkina Faso

• 3 year renewal

• Option payments re-negotiated (US$300k due 31 December 2013)

• Gold mineralisation over 16km of strike in 1.2km wide corridor

• Major regional shear zone with multiple zones of gold mineralisation

• Past production 20,000 oz at 5.2 g/t gold

• Currently processing 10-15 tpd (existing stockpiles)

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Identified Gold Lodes at Korongou

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Banouassi Prospect at Korongou

• Multiple parallel zones of gold mineralisation within 1.2km wide shear corridor

• Maiden RC drilling produced intercepts open at depth & along strike

• BARC001: 7m at 11 g/t gold

• BARC007: 5m at 4.7 g/t gold, 9m at 1.4 g/t gold & 12m at 0.5 g/t gold

• BARC025: 3m at 2.8 g/t gold, 5m at 1.7 g/t gold, 7m at 2.6 g/t gold & 2m at 3.4 g/t gold

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• RC drilling planned

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Namagdo Prospect at Korongou

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• NKRC004 returned 5m at 1.8 g/t gold and 11m at 3.6 g/t gold

• Mineralisation open at depth and along strike

• Further mineralisation adjacent the hole and remains untested

• Wide zone of artisanal workings extend for >3km

• 1km magnetic low anomaly

• Rock chips up to 108 g/t gold

• RC drilling planned

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Big Veins Prospect at Korongou

• Large new artisanal open pit

• Different style of gold mineralisation (not quartz vein related)

• Gold associated with interbedded iron-rich and carbon-rich sediments

• Potential for a broad zone of mineralisation

• Rock chip samples up to 9.7 g/t gold

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• No drilling to date

• RC drilling planned

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Diapaga Project (Burkina Faso)

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 JV with Blina Minerals (Blina earning 51%)

• ~1,000km[2]

• No previous exploration

• Little outcrop

 Major regional shear zone ( 11km wide)

 Recent Natougou discovery by Orbis Gold ( 1.8Moz at 3.7 g/t gold ) 30km along strike to SW

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Conclusions

• Near term gold production opportunity

• Potential for a high grade, low CAPEX, high margin operation

• Excellent metallurgy (>95% recovery)

Balogo Project

• No environmental or social issues yet identified

• BFS underway on current gold resource

• Discovery of the Panga Lodes suggests potential for extension to the gold resource

• Extensive zones of gold mineralisation ready for drilling to enable resource definition

Korongou Project

• Modular processing plant can be relocated to Korongou once mining at Balogo is complete

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