ASARA RESOURCES LIMITED — Capital/Financing Update 2012

Dec 2, 2012

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ASX/Media Announcement

3 December 2012

Golden Rim Agrees to a Farm-out for the Diapaga Project

Golden Rim Resources Ltd ( Golden Rim, ASX: GMR) today announced it has signed a Terms Sheet for a Farm-out Agreement with Blina Minerals NL ( Blina ) for the Diapaga Project. Under the Terms Sheet, Golden Rim will receive US$50,000 cash and 50,000,000 fully paid ordinary shares in Blina, subject to shareholder approval.

Under the Terms Sheet, Blina may earn a 51% interest in the rights to the permits that make up the Diapaga Project, by incurring US$2,000,000 on exploration within 30 months of signing ( Initial Earn-In ). During this stage, Blina may withdraw from the agreement after spending a minimum of US$500,000.

Following the Initial Earn-In, an unincorporated Joint Venture ( Joint Venture ) will be formed. Golden Rim has the right to participate in the Joint Venture with a 49% interest. If Golden Rim elects not to participate, Blina may earn an additional 19% interest by spending a further US$1,500,000 within 24 months. In this event, Blina’s total interest in the Diapaga Project will become 70% and Golden Rim’s interest will become 30%. Alternatively, if Golden Rim elects not to participate, Blina may acquire Golden Rim’s interest for the sum of US$2,500,000 or the equivalent in shares in Blina.

During the Initial Earn-In, Blina is obliged to keep the permits that make up the Diagapa Project in good standing and to provide the vendor payments under the existing letter agreements. These payments, which total US$330,000, form part of the Initial Earn-In.

. The Diapaga Project is comprised of four adjacent permits being the Bagari, Gounda, Antyaga, and Kountiagou permits and covers an area of 960Km[2] . The Project area is located approximately 350km east from Ouagadougou, the capital city of Burkina Faso. It lies on the NE-trending Diapaga Birimian greenstone belt and is bisected by a series of major and complex shear structures running into Niger and connected to the major Markoye Fault system. Due to the remoteness, the Diapaga Birimian greenstone belt is considered to be one of the most under explored greenstone sequences in Burkina Faso and has received no significant modern exploration.

The Farm-out Agreement forms part of Golden Rim’s strategy which began by building a large portfolio of high quality exploration permits which were then prioritised. Subsequently, Golden Rim has divested some permits for a capital return and an invested upside interest, while advancing others.

The structure of this Joint Venture provides flexibility for Golden Rim to choose its level of participation, while continuing to focus on the Balogo, Sebba and Yako Projects in Burkina Faso.

-ENDS-

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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For further information, please contact:

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

About Golden Rim Resources Limited

Golden Rim Resources Ltd (ASX: GMR) is an exploration company with a focus on gold. The Company is active in West Africa, with a pipeline of six gold projects covering around 4,100km[2] in the highly prospective Birimian greenstone belts of Burkina Faso and Mali.

Golden Rim has recently made a significant, near-surface, high grade gold discovery at its Balogo Project in Burkina Faso. Drilling intercepts at Balogo are arguably some of the best gold intercepts obtained in West Africa in recent years.

The Company is conducting a deeper diamond drilling program at Balogo to extend the gold mineralisation at depth and it aims to calculate a JORC resource towards the end of 2012.

With continued success at Balogo and at its other projects in West Africa, Golden Rim is poised to deliver significant growth and value to shareholders.

Further Company Information

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

Capital Structure

Issued Shares: 458,706,231 Unlisted Options: 33,950,000

Major Shareholders

Royal Group, Abu Dhabi 12.4% Acorn Capital 7.6%

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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