ASARA RESOURCES LIMITED — Capital/Financing Update 2011

Nov 14, 2011

ASX/Media Announcement

15 November 2011

Five Permits in Burkina Faso to be Divested

Golden Rim Resources Ltd ( Golden Rim , ASX: GMR) today announced that it has entered into an agreement with Riedel Resources Ltd ( Riedel , ASX: RIE) to divest five permits in Burkina Faso.

The divestment is part of Golden Rim’s strategy to continually acquire prospective holdings and to strategically divest others, ensuring a pipeline of high quality projects.

Subject to due diligence and to shareholder and regulatory approvals (if required), Riedel has agreed to acquire the right to 100% of the Galgouli South, Gonsin, Keri, Moaga and Tagou exploration permits in Burkina Faso under the following terms:

• US$25,000 non-refundable option fee from execution of Letter Agreement;

• Due diligence period of 30 days to commence from execution of Letter Agreement;

• Cash consideration of US$875,000 payable 30 days from execution of the Sale and Purchase Agreement;

• Issue of 12,500,000 fully paid ordinary shares in Riedel, upon execution of the Sale and Purchase Agreement (the shares to be escrowed for 12 months);

• Riedel to assume all obligations under existing Letter Agreements, including future option payments, commissions and royalties. The options and commissions are staged payments over a further 2 year period and total US$621,000.

Golden Rim’s Managing Director, Mr Craig Mackay, said that the transaction was advantageous for the Company.

“While the permits being sold to Riedel are considered prospective, their divestment will allow us to focus on our core project areas in Burkina Faso and Mali where more than 55,000m of drilling has been planned for this field season and is due to commence shortly,” said Mr Mackay.

Mr Mackay also said that Golden Rim had placed itself in a unique position, enabling a strategically positive outcome for both Riedel and Golden Rim shareholders.

“Golden Rim beat the current rush of explorers to Burkina Faso and we were very fortunate to build up a large portfolio of high quality exploration permits,” he said. “This has enabled the Company to be in the position to advance some projects while divesting others and ensuring a capital return.”

Following the completion of the transaction with Riedel, Golden Rim will have 4 projects in Burkina Faso (Balogo, Sebba, Yako and Diapaga) and 3 projects in Mali (Sepola, Faraba and Sanso) with a permit portfolio in West Africa covering more than 4,000km[2] .

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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-ENDS-

For further information, please contact:

Hayley Butcher Anna Staples Golden Rim Resources AMN Corporate Company Secretary +61 400 205 433 +61 8 9481 5758 anna@amncorporate.com

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 licences covering around 5,000km[2] in the highly prospective Birimian greenstone belts of Mali and Burkina Faso.

With experienced management and extensive local teams in the Company’s permanent offices in Mali and Burkina Faso, Golden Rim is able to move quickly and efficiently in order to maximise potential opportunities.

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 program of drilling in Mali, Burkina Faso and Sweden and is poised to deliver significant growth and value to shareholders.

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Figure 1. Location of Golden Rim’s permits in Burkina Faso.

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The information in this public 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 an employee of Golden Rim Resources 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

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

Capital Structure

Issued Shares: 359,396,731 Unlisted Options: 39,650,000

Major Shareholders

Royal Group, Abu Dhabi 13.10% Rick Crabb Group 5.71% Acorn Capital 5.71%

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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