ASARA RESOURCES LIMITED — AGM Information 2013

Nov 21, 2013

ASX/Media Announcement 22 November 2013

2013 Annual General Meeting Chairman's Address

Golden Rim is currently experiencing two conflicting realities. On the one hand, Golden Rim, like many gold exploration and mining companies, is experiencing difficult financial market conditions. This is reflected in the fall of the gold price and the Company’s share price. On the other hand, the Company has seen significant success in West Africa. These two opposing positions can cause frustration for both the Company and its shareholders.

Our responsibility, as a Board, is to ensure that the Company is carefully navigated through these difficult times while continuing to progress its key projects. It is not our intention to stop work and hibernate. Over the past 12 months, the Company has conducted major work programs, including more than 16km of drilling, over a number of prospect areas within Golden Rim’s 3,235km[2] of exploration permits in Burkina Faso.

Golden Rim is particularly excited about its progress on the near surface, high grade gold resource at Netiana, at the Balogo Project, Burkina Faso. A Scoping Study was completed on the Netiana resource and the Company is now proceeding with a Bankable Feasibility Study. Further drilling results announced in the past two weeks indicate that a new zone of high grade gold has been discovered demonstrating the significant upside potential of the Balogo Project.

During the current financial year, exploration work will be focused on the Balogo and Korongou projects in Burkina Faso.

The Company remains committed to ensuring all expenditure is subject to critical assessment. Staff levels have been reassessed resulting in over 50% retrenchment of staff across the Company and a number of other cost cutting measures being introduced. Golden Rim continues to seek avenues for not only preserving capital but also ensuring it continues to progress its key projects.

Personally, I am disappointed that the stock market has treated Golden Rim’s share price so harshly given that the Company has largely delivered on its planned strategies. However, we remain determined to stay focused and believe the work we are undertaking now will ultimately deliver positive results.

I take this opportunity to thank Craig Mackay and the management team. The Board has confidence in the Company’s strategy and is pleased that the management team remains focused and dedicated.

I thank those shareholders who have remained loyal and look forward to the prospects ahead as the Company progresses on its path from explorer to producer.

Rick Crabb Chairman

-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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For further information, please contact:

Hayley Butcher

Golden Rim Resources Company Secretary +61 8 9481 5758

Further Company Information

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

Capital Structure

Issued Shares: 653,006,923 Unlisted Options: 33,650,000

Major Shareholders

Royal Group, Abu Dhabi 8.34%

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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