ASARA RESOURCES LIMITED — Capital/Financing Update 2007

Nov 8, 2007

==> picture [150 x 88] intentionally omitted <==

9 November 2007

The Manager Companies Announcement Office Australian Securities Exchange Ltd 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Dear Sir/Madam

PLACEMENT ISSUE OF NEW SHARES

The Board of Directors of Golden Rim Resources Ltd (“GMR” or “Company”) is pleased to announce that GMR has made a placement issue of 11,060,228 Ordinary fully paid shares at the price of 8.5 cents each to raise $940,119, under the Company’s existing 15% capacity.

Patersons Securities Limited, a leading Australian Broking Firm acted as the Lead Manager for this placement issue.

The shares issued pursuant to the placement will rank equally in all respects with the existing ordinary shares of the Company quoted on the ASX. Application will be made to the ASX for quotation of these placement shares and allotment will follow next week.

A cleansing statement will be issued shortly following the allotment of the placement shares to facilitate secondary trading of these placement shares, as they are issued without disclosure to investors under Part 6D.2 of the Corporations Act.

The funds raised will be used for the purpose of repaying the unsecured loan advanced to GMR by the Chairman, Rick Crabb, to continue with GMR’s exploration program at the Banana Creek prospect in Fiji, administration and ongoing working capital expenses of the Company.

The Board of GMR takes this opportunity to welcome the new investors to the Company’s register and thank them for their support

Please contact our office for further information.

Yours faithfully

GOLDEN RIM RESOURCES LTD

==> picture [131 x 35] intentionally omitted <==

GILBERT RODGERS Company Secretary

Golden Rim Resources Ltd ABN 39 006 710 774

Head Office: Level 2, 10 Outram Street, West Perth, WA 6005, Australia Telephone: +61 8 9481 5758 Facsimile: +61 8 9481 5759 Email: info@goldenrim.com.au Website: www.goldenrim.com.au