ASARA RESOURCES LIMITED — Capital/Financing Update 2010

Mar 29, 2010

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ASX/Media Announcement

30 March 2010

Falun Project Area Expanded

• Three new permits acquired in Falun district in Sweden

• The Falun Project now covers an area of 352 km[2]

• The new permits have known occurrences of gold and base metal mineralisation (Gold assays up to 19.6 g/t previously reported)

• Very little modern exploration

• The Berglagen JV is now one of the largest licence holders in the highly prospective Falun Mineral District

Golden Rim Resources Ltd (ASX: GMR, Golden Rim ) today announced the acquisition of three further permits in the Falun Mineral District in Sweden increasing the licence holding to 352 km[2] .

The Falun Project forms part of the Bergslagen Joint Venture (JV) between Golden Rim’s 35% owned Abu Dhabi alliance company, Royal Falcon Mining LLC ( Royal Falcon ), and Drake Resources Ltd. Royal Falcon has the right to earn a 75% interest in the Bergslagen Joint Venture’s licences within the Bergslagen Province, west of Stockholm.

The Bergslagen JV has an aggressive programme to seek new opportunities in the vicinity of its project areas in Sweden.

The new permits give the Bergslagen JV a dominant land position in the Falun Mineral District, an area of numerous historic mines and prospects, including the major Falun massive sulphide deposit which is the primary focus of the Bergslagen Joint Venture exploration.

The following three permits have been added to the portfolio.

Rogsån No. 2

This Permit extends the licence holding of the Rogsån volcanic belt a further 5kms to the east. The Permit is along strike from the prospective mineralised belt of Rogsån No. 1 Permit, also held by the Bergslagen JV. Rogsån No. 1 Permit contains the Rogsån copper-silver and Uvberget copper-gold prospects.

Previous explorers found numerous boulders with up to 19.6 g/t gold, 162 g/t silver and 6% copper. There is no evidence that a source for these boulders was found by the explorers.

The only reported exploration within the Permit was at a lead-zinc prospect called Gaddtjarnsgruvan. Outcrop samples here contained 0.7% copper and 10% lead. The previous explorers drilled six holes around the Gaddtjarnsgruvan occurrence, but did not analyse for gold at the time. This drilling is 1km west of the main cluster of gold-bearing boulders.

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 Bergslagen JV plans to fly the first ever, combined airborne electromagnetic and magnetic surveys over the area. The electromagnetic survey flown in 2008 over the Rogsån No. 1 Permit identified the Holtäkt and Haghed targets. In addition, the gold-mineralised boulders will be followed up with ground exploration, and the previous drilling analysed for gold.

Haghed

The Haghed Permit has been applied for to cover an electromagnetic anomaly identified from the 2008 survey immediately adjacent to the Rogsån No. 1 Permit. The anomaly is along strike from the Holtäkt and Haghed targets.

The anomaly will be checked on the ground when the currently thick snow cover melts in April-May 2010.

Krondiket

The Bergslagen Joint Venture has continued its review of past exploration data from when the Falun Mine was operating. This review has identified the presence of copper-zinc mineralisation extending beyond the current boundary of its main Falun No. 101 Permit.

The Bergslagen Joint Venture has consequently added a small permit to cover this occurrence.

-ENDS-

For further information, please contact:

Gilbert Rodgers Ann M Nahajski Golden Rim Resources AMN Corporate Executive Director +61 0 400 205 433 +61 8 9481 5758 ann@amncorporate.com info@goldenrim.com.au

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 new licences (Krondiket, Haghed, and Rogsån) in the Falun Project area.

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.

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Further Company Information:

Capital Structure

Issued Shares: 275,463,761 Unlisted Options: 40,750,000

Major Shareholders

PAL Technology Services LLC 14.37% Rick Crabb 6.83%

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

Share Registry

Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6000 AUSTRALIA

T: + 61 8 9315 2333 F: + 61 8 9315 2233

E: registrar@securitytransfer.com.au

W: securitytransfer.com.au

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