ASARA RESOURCES LIMITED — Capital/Financing Update 2009

Jun 22, 2009

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ASX Release

23 June 2009

DRILLING COMMENCES AT SEPOLA IN MALI

Golden Rim Resources Ltd ABN 39 006 710 774 www.goldenrim.com.au

Head Office

Level 2 10 Outram Street WEST PERTH WA 6872 AUSTRALIA

T: + 61 8 9481 5758 F: + 61 8 9481 5759

Exploration Office

Suite 3, Level 1 19 Prospect Street BOX HILL VIC 3128 AUSTRALIA

T: + 61 3 9890 2311 F: + 61 3 9890 0877

Contact

Craig Mackay Managing Director info@goldenrim.com.au

Directors

Rick Crabb (Non Executive Chairman) Craig Mackay (Managing Director) Gilbert Rodgers (Executive Director) Glenister Lamont (Non Executive Director)

ASX:GMR

Golden Rim Resources Ltd (ASX: GMR, Golden Rim ) is pleased to announce that drilling has commenced on the Company’s Sepola Gold Project in Mali.

The Sepola Gold Project lies approximately 40 kilometres southeast along strike from the Sadiola and Yatela gold mines (greater than 15 million oz of gold).

The close proximity to major gold mines offers scope for Golden Rim to investigate the option for the toll treating of ore and generating an early cash flow, should the planned exploration be successful.

The 3,000m reverse circulation drilling program is designed to extend and infill the current Inferred Resource of 3,084,000 tonnes at 1.64 g/t gold for 162,000 oz of gold.

The drilling should allow portions of this resource to be upgraded from the Inferred Resource to the Indicated Resource category in accordance with the JORC Code.

The majority of the proposed drill holes will be completed at the Mogoyafara prospect (Figure 1). The gold mineralisation at Mogoyafara has considerable tonnage potential and is open along strike and at depth. Golden Rim considers the prospect to have the potential to produce a major gold deposit.

Several drill holes are also planned for the Linnguekoto prospect to follow-up high grade gold mineralisation in the area where a previous drill hole intersected 18 m at 8.19 g/t gold and where Golden Rim’s rock chip sampling of an 80 cm wide quartz vein returned an assay of 1205 g/t (38.7 oz/t) gold.

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The drilling program immediately follows Golden Rim’s successful rights issue and placement that raised $3.6 million. The rights issue had tremendous support with over 78% of eligible shareholders taking up their entitlements.

-ENDS-

For further information, please contact:

Gilbert Rodgers Ann M Nahajski Golden Rim Resources AMN Corporate Company Secretary +61 (0)400 205 433 +61 8 9481 5758 ann@amncorporate.com

About Golden Rim

Golden Rim is an exploration and mining company with a focus on gold and copper projects.

The current growth strategy is being driven by the Company’s two new gold projects (Sepola and Sanso) in West Africa and the advancement of its Abu Dhabi registered alliance company, Royal Falcon Mining LLC ( Royal Falcon ). Royal Falcon has recently secured two major copper and gold projects (Falun and Bersbo) in Sweden.

While previously active in Fiji and Vanuatu, positive results from the Company’s projects in West Africa and Sweden have prompted an exciting shift in focus to drive shareholder value.

The information in this report that relates to exploration results 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 (as at 22 June 2009) Issued Shares: 225,013,812 Unlisted Options: 33,150,000

Major Shareholders

PAL Technology Services LLC 13.94% Rick Crabb 7.84%

Share Registry

Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6000 AUSTRALIA T: + 61 8 9315 2333 F: + 61 8 9315 2233

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Figure 1

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