ASARA RESOURCES LIMITED — Capital/Financing Update 2013

Feb 27, 2013

ASX/Media Announcement 28 February 2013

Amended Announcement: 6,000m Drilling Program Commences at Sebba, Burkina Faso

Golden Rim Resources Ltd ( Golden Rim ; ASX: GMR) today announced that it has commenced a program of 6,000m of reverse circulation ( RC ) drilling to test priority target areas at the Tyena, Namantougou, Komondi East and Bambini 6 prospects at the Sebba Project in Burkina Faso (Figure 1).

The drilling program will comprise approximately 40 RC drill holes with an average depth of 150m per hole.

Tyena Prospect

A total of 22 holes are planned at the Tyena Prospect within the Gandi Permit. Drilling will target two parallel zones of outcropping quartz veining and active artisanal workings over a strike length of approximately 2.5km. These gold mineralised zones lie within a strong, 400m wide, gold-in-soil anomaly. Previous rock chip samples from the area have returned maximum grades of 27.7 g/t gold (Figure 2).

Six holes will target a prominent hill of outcropping gold-bearing massive quartz–tourmaline– sulphide veining ( Quartz Hill ) that is located in the NE of the prospect area (Photographs 1 & 2). The Quartz Hill vein outcrop is 250m long and 15m wide. A single previous 50m RAB hole was targeted beneath the hill returning an intercept of 8m at 2.4 g/t gold. The drill hole was unable to penetrate the massive quartz veining and test the full width of the mineralised zone.

Kolankoy Prospect

Six holes are planned to test a coincident, 1.6km long, soil and rock geochemical anomaly within the Namantougou Permit. The anomaly is NE-trending and lies on a major regional shear contact between sediments and intrusive rocks.

Rock chip samples up to 34 g/t gold have been collected from a highly active artisanal mining site where a number of parallel quartz sulphide veins occur, hosted in sheared metasediments (Photograph 3).

Extensive visible gold has been observed by Golden Rim geologists in the high grade gold mineralisation being extracted by the artisanal miners.

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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Komondi East Prospect

The Komondi East Prospect is associated with a coherent, 1.1km x 0.4km gold-in-soil anomaly located at the NE portion of the Komondi Permit.

Mineralisation in this area consists of a series of parallel quartz / sulphide veins over a width of approximately 30m. Rock chip samples with assays up to 184 g/t gold have been obtained from the veining.

A total of nine RC holes are planned to test the veins along approximately 500m of strike in an active area of artisanal mining.

Bambeni 6 Prospect

The Bambeni 6 Prospect is located on a WNW-trending structure in the western part of the Komondi Permit.

The prospect is coincident with a 1.6km long gold-in-soil anomaly. Rock chip samples have returned values up to 27 g/t gold and 0.8% copper.

The gold and copper mineralisation is hosted within diorite intrusion that lies along the shear zone. The mineralisation is associated with quartz veining and is also disseminated within the diorite.

Three holes are planned to test the mineralised quartz vein system.

Golden Rim’s Managing Director, Craig Mackay, said “Sebba is Golden Rim’s largest project area in Burkina Faso, covering nearly 2,000km[2] .”

“For the past two years, Golden Rim has conducted an extensive surface geochemical sampling program at Sebba, with the collection of over 38,600 soil, auger and rock chip samples, to define target areas along three regional shear zones that have a collective strike length of 140km. As a junior explorer, this has been a vast undertaking for Golden Rim.”

“The target areas outlined by the geochemical sampling are exceptional in terms of the scale of the anomalies and the tenor of the gold results and the Company is eagerly anticipating the results of the current drilling program” Mr Mackay said.

-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

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Figure 1. Location of permits, prospects and gold-in-soil anomalies at the Sebba Project.

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Photograph 1. Massive, gold mineralised quartz–tourmaline–sulphide veining at Quartz Hill at the Tyena Prospect.

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Photograph 2. Specimen of quartz–tourmaline–limonite (after sulphides) veining from Quartz Hill.

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Photograph 3. Artisanal high grade gold ore bagged for processing at the Kolankoy Prospect.

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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: 511,206,231 Unlisted Options: 33,950,000

Major Shareholders

Royal Group, Abu Dhabi 10.65% Acorn Capital 5.58%

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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