ASARA RESOURCES LIMITED — Capital/Financing Update 2013

Nov 7, 2013

ASX/Media Announcement

8 November 2013

Golden Rim’s Feasibility Study Funding

Golden Rim Resources Ltd ( Golden Rim ; ASX: GMR) is pleased to announce that it has signed an Indicative Terms Sheet ( Facility ) with RMB Resources Limited ( RMB Resources ) for RMB Australia Holdings Ltd to provide up to A$4 million to fund the completion of the Company’s Bankable Feasibility Study for the Balogo Project.

RMB Resources is part of Rand Merchant Bank, which is a member of the FirstRand Group, one of the largest financial services groups listed on the South African stock exchange. As a proposed funding partner to Golden Rim, RMB Resources’ valuable support provides further financial confidence and certainty as the Company strives to achieve its vision of becoming a miner.

Golden Rim’s Managing Director, Craig Mackay, said “We are very pleased to have a mandate in place with such a reputable and influential financial service group with specific experience in funding mine development in Burkina Faso. Such support provides the Company with confidence to continue with the Bankable Feasibility Study as we aim towards mine development. This is particularly important during the challenging financial times that the exploration sector is currently experiencing”.

A total of A$4 million in two tranches of A$2.5million ( Tranche A ) and A$1.5 million ( Tranche B ) is to be provided under the Facility. The Facility and each tranche is subject to various conditions including satisfactory due diligence investigations, expected to be completed by mid December 2013, and RMB Resources’ final credit approval. The Facility also includes the provision of unlisted options ( Options ) where the number of Options will be equal to 20% of each tranche amount, divided by the exercise price. The exercise price will be the lesser of: (a) a 20% premium to Golden Rim’s 20 day VWAP preceding the first drawdown of the relevant tranche; (b) A$0.022 per Option; or (c) in the case of the Tranche B, the exercise price of Tranche A. The Options will expire four years from the date of issue and are to be issued on first drawdown of the relevant tranche.

Final details of the Facility will be confirmed upon satisfaction of all conditions.

-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

Golden Rim Resources Company Secretary +61 8 9481 5758

Further Company Information

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

Capital Structure

Issued Shares: 653,006,923 Unlisted Options: 33,650,000

Major Shareholders

Royal Group, Abu Dhabi 8.34%

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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