ASARA RESOURCES LIMITED — Capital/Financing Update 2011

Jul 11, 2011

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ASX/Media Announcement

12 July 2011

Drilling Restarts at Falun in Sweden

Golden Rim Resources Ltd (ASX: GMR, Golden Rim ) today announced that the Bergslagen Joint Venture (BJV) has recommenced drilling at its copper and gold project at Falun, Sweden.

The work comprises a 3-hole diamond drilling program in the Western Copper Gold Zone at Falun to delineate the extent of the massive sulphide mineralisation discovered by the BJV in Hole 20-10 ( 17.2 m @ 2.3 g/t gold, 1.9% copper, 3.8% zinc, 0.8% lead and 56.4 g/t silver ) and to test an area of disseminated mineralisation where historic drill hole intercepts include 33.1 m @ 4.1 g/t gold, 1.5% copper and 42 g/t silver; 34.9 m @ 0.9% copper; and 7.2 m @ 1.1 g/t gold, 7.2% copper and 75 g/t silver (Figures 1 and 2).

In addition the Joint Venture will complete the first resource estimation of the gold-copper mineralised zones at Falun in the coming weeks.

-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

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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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 4,000km[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 the new diamond drill holes in the Western Zone at Falun in Sweden

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Figure 2. New diamond drill hole locations and interpreted mineralised zones in the Western Zone at Falun

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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 a permanent 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

PAL Technology Services LLC 13.10% Rick Crabb 5.79%

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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