ASARA RESOURCES LIMITED — Capital/Financing Update 2009

Dec 7, 2009

ASX/Media Announcement

8 December 2009

High Priority Drilling Targets Identified at Bersbo, Sweden

• Four new drill targets identified from the VTEM electromagnetic survey in the Bersbo Project area

• The Bersbo mine was the second largest historic copper producer in the province after Falun

• Bersbo Project Area effectively unexplored

• Drilling planned for early 2010

Golden Rim Resources Ltd ( Golden Rim or Company ) today announced that it is continuing to add to its portfolio of high ranking geophysical targets for drill testing in its Bergslagen Joint Venture permits in Sweden (Figure 1). The new targets were identified after a recent evaluation of the airborne VTEM (helicopter electromagnetic) survey flown in 2008 over the Bersbo Project Area (Figure 2). The targets were refined by a process of careful processing of the VTEM data, ground checking and geophysical modelling. The targets are known as Hersatter, Hersatter West, Bersbo West and Kungshagen.

Golden Rim’s Managing Director, Mr Craig Mackay, said “while our recent attention in Sweden has been focussed on our world-class Falun copper-gold project, the Bersbo copper-gold project is a very exciting project in its own right.”

“The Bersbo mine has a 1,000 year long mining history and is the second largest copper mine in the region after Falun. Yet, the mine and the surrounding area has received little modern exploration” said Mr Mackay.

“The conductors identified in the VTEM geophysical survey at Bersbo look very interesting and have the potential to be the next Falun-style massive sulphide ore bodies in the district. We look forward to drilling these exciting new targets early in 2010” he said.

The Bersbo Project forms part of the Bergslagen Joint Venture between Golden Rim’s alliance company, Royal Falcon Mining LLC ( Royal Falcon ), and Drake Resources Ltd ( Drake ) and comprises 240 km[2] of the Bersbo massive sulphide belt. The Bersbo Project is 250 km south of the Falun mine where a drilling program is currently underway. The Joint Venture partners believe they have secured the most prospective parts of the belt containing the historic Bersbo copper mine.

Drake has previously announced encouraging assay data from the Bersbo Project area following a small rock chip sample program. The rock chip samples were collected from outcrop and old workings along an 8 km sequence of gossans/massive sulphides within the Bersbo Project area and returned assays up to 1.2% copper and 6.8% zinc. The assay results indicate the significant zinc grade of the material that was historically mined with three samples from old mine dumps reporting greater than 5% zinc.

Hersatter and Hersatter West targets

The Hersatter targets occur along an extensive magnetic horizon in the northwest of the Bersbo Project area. The Hersatter magnetic feature is of particular interest since it occurs in a fold nose, and bears a strong structural resemblance to the magnetic signature of the nearby Bersbo mine.

Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 10 Outram Street, West Perth WA 6005, Australia I T + 61 8 9481 5758 I F + 61 8 9481 5759

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The data interpretation indicates the presence of a flat lying conductor at relatively shallow depths. The Hersatter VTEM target has high conductivity and has a moderate magnetic response. The top of the geophysical target has been modelled at 60 m (Figures 3 and 4).

Bersbo West

The Bersbo West VTEM target is 1,600 m west of the old Bersbo copper-zinc-gold mine. It lies on a magnetic horizon that may be along strike from the Bersbo mine, although the correlation is complicated because of faulting.

The Bersbo West target is a strong conductor with a moderately strong magnetic response. It occurs on at least three flight lines in the VTEM survey, and consequently the strike length feature has a minimum length of 200 m (Figure 5). The interpreted target depth is 100 m. The anomaly location occurs in an area of mixed standing and cleared forest (Figure 6).

Kungshagen

The geophysical target at Kungshagen is moderately to strongly conductive and moderately magnetic. It is approximately 150 m in strike length (Figure 5). The modelling indicates a relatively deep target with a dip to the north. The target is in an area of thick forest covering very large glacial boulders.

Proposed Drilling

As a result of the identification of the new targets, the Joint Venture has planned a drilling program at the Bersbo Project, anticipated to commence in early 2010.

About the Bersbo Project

Bersbo was mined for almost 1,000 years, closing around 1902. There are only records of copper production from the mine, as zinc had little value during those times. However, a report written in 1912, after the mine had closed, describes a parcel of ore of 50,000t with average grades of 20% zinc and 2% copper remaining in the mine.

Despite Bersbo being the second largest historic copper mine in the Bergslagen Province, the belt has not attracted any modern exploration and remains effectively unexplored. The only government mapping of the area was carried out in the late 19[th] century.

The largest historic copper mine in the Bergslagen Province is the Falun mine, 250 km north of Bersbo, where the Joint Venture is currently undertaking a major drilling program.

-ENDS-

For further information, please contact:

Craig Mackay Ann M Nahajski Golden Rim Resources AMN Corporate Managing Director +61 (0)400 205 433 +61 3 9890 2311 ann@amncorporate.com

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About Golden Rim Resources Limited

Golden Rim Resources Ltd (ASX: GMR) is an exploration and mining company with a focus on copper and gold. The Company is active in West Africa, with gold resources and tenements (Sepola, Sanso and Farada) in the highly prospective Birimian greenstone belt in Mali.

Abu Dhabi-based Royal Group is a substantial shareholder and strategic partner of Golden Rim. Through an alliance company, Royal Falcon Mining LLC, the companies have secured advanced copper/gold projects (Falun and Bersbo) in Sweden and are seeking further significant investments.

Golden Rim is pursuing an active drilling program in Mali and Sweden and is poised to deliver significant growth and value to shareholders.

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Figure 1. Location of permits in the Bersbo District

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Figure 2. High priority VTEM targets in the Bersbo Project area

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Figure 3. Hersatter and Hersatter West targets: image of VTEM, overlain by magnetic contours

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Figure 4. Photo of the Hersatter target area

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Figure 5. Kungshagen and Bersbo West targets: image of VTEM, overlain by magnetic contours

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Figure 6. Photo of the Bersbo West target area

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The information in this 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 a consultant of Golden Rim Resources Ltd through Earth Science Solutions Pty 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.

Further Company Information:

Capital Structure

Issued Shares: 225,013,812 Unlisted Options: 33,150,000

Major Shareholders

PAL Technology Services LLC 13.94% Rick Crabb 8.06%

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

Share Registry

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