ASARA RESOURCES LIMITED — Capital/Financing Update 2013

Jan 17, 2013

ASX/Media Announcement 18 January 2013

Further Extensions to the Netiana Lodes at Balogo, Burkina Faso

• All assays from the recent diamond and reverse circulation drilling have been received. New intersections include:

• 10.8m at 1.4 g/t gold from 297m (BDH027)

• 3m at 3.2 g/t gold from 268m (BDH027)

• 6m at 1.5 g/t gold from 141m (BRC252)

• 8m at 1.1 g/t gold from 109m (BRC255) (includes 1m with no sample)

• 1m at 8.3 g/t gold from 7m (BRC253).

• Results confirm further depth extensions to the Netiana Lodes to 240m below surface and the mineralisation remains open at depth.

• Drilling has also increased the strike of the mineralisation for an additional 150m along strike to the NE.

• Preliminary JORC-compliant resource calculation by Mining Plus expected by end of January 2013.

Golden Rim Resources Ltd ( Golden Rim ; ASX: GMR) today announced that all of the assays from the recent diamond and reverse circulation (RC) drilling program have been received and a JORC-compliant resource estimate on the Netiana Lodes has commenced.

Drilling Results

The final assay results for the recent diamond drilling program and all of the assays from the additional 8 RC holes (1,073m) have been received. The RC holes were drilled to test for extensions to the Netiana Lodes along strike to the NE. Significant new diamond and RC drilling gold intercepts are provided in Tables 1 and 2 respectively.

The new gold intercepts were obtained on 4 drill sections (10,075N, 10,150N, 10,200N and 10,250N).

Drill Section 10,075N

BDH026 and BDH027 are the deepest holes drilled on this section.

BDH026 intersected low grade mineralisation at the anticipated position of Lode 1. This potentially limits the depth extent of Lode 1 to around 120m vertical depth on this drill section. Lode 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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mineralisation was intersected between 210 and 220m (3.4m at 1.0 g/t gold and 1m at 3.5 g/t gold). Two new lodes were intersected deeper in BDH026, i.e. 2m at 0.9 g/t gold (228 – 230m) and 3m at 3.2 g/t gold (268 – 271m).

In BDH027, a felsic intrusive was intersected at the anticipated Lode 1 position, however Lode 2 was intersected at 297m (10.8m at 1.4 g/t gold) which extends this mineralisation to 240m vertical depth. Lode 2 remains open at depth.

Drill Section 10,150N

Hole BDH030 intersected Lode 1 at 159m (2.4m at 1 g/t gold) which extends mineralisation to 100m vertically on this section. This intercept also extends Lode 1 a further 50m along strike to the NE from hole BDH028.

BRC 251 was drilled to test for an up-dip extension of mineralisation intersected in previous drilling (BRC 248). Low grade mineralisation (2m at 0.9 g/t gold) was intersected at 45m depth which was the expected target depth.

Drill Section 10,200N

BRC252 was drilled to test for the depth extensions of mineralisation intersected in previous holes BRC090, 091, 092 and 224. The hole intersected multiple zones of gold mineralisation with the best intersection of 6m at 1.5 g/t gold from 141m at the expected Lode 2 position. This has increased the depth extent of Lode 2 on this section to 120m below surface and it remains open at depth.

Drill Section 10,250N

BRC 253, 254 and 255 were drilled on a new section (10,250N) to infill a 100m gap in previous drilling. All 3 holes intersected Lode 1 and Lode 2 mineralisation with the best result being 8m at 1.1 g/t gold from 109m in BRC255 which included 1m of no sample return. Both zones of mineralisation remain open at depth on this section.

The Netiana Lodes remain open at depth. The new RC drilling has successfully extended the Netiana Lode mineralisation by around 150m along strike to the NE.

Maiden JORC Resource Estimate

As all drill assays have now been received, the resource estimation for the Netiana Lodes has commenced. Mining Plus Pty Ltd has been engaged to calculate the maiden JORC resource for the Netiana Lodes. It is anticipated that a preliminary resource estimate will be available by the end of January 2013 and a final report by mid-February 2013.

-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 . 3D model of the drill holes and the interpreted gold lodes at Netiana (pale blue).

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Table 1 . Significant new diamond drilling intersections from the Netiana Lodes

	From (m)	To (m)
Hole ID			Intersection	Lode(s)
BDH026	117	125	8m@0.5g/tgold	“
BDH026	131	132	1m@1.3g/tgold	“
BDH026	209.6	213	3.4m@1.0g/tgold	“
BDH026	219	220	1m@3.5g/tgold	“
BDH026	228	230	2m@0.9g/tgold	“
BDH026	268	271	3m@3.2g/tgold	“
BDH027	67	68	1m@0.6g/tgold	“
BDH027	297	307.8	10.8m@ 1.4g/tgold	“
BDH030	50	50.70	0.7m@1.7g/tgold	“
BDH030	158.9	161.3	2.4m@1.0g/tgold	“

Notes:

1. Holes BDH026, BDH027and BDH030 were drilled with RC pre-collars and diamond tails.

2. Analysis performed by the BIGS laboratory, Ouagadougou, Burkina Faso, using standard fire assay/AAS methods. Samples returning values greater than 50 g/t gold were re-assayed using a gravimetric finish.

3. All results of QA/QC samples are routinely monitored to be within acceptable limits for the type of assay method used.

1. All assays are quoted to one decimal place.

2. Gold intercepts were calculated with a 0.5 g/t gold cut-off. A maximum of 3m internal dilution was allowed. No upper cut-off has been applied.

3. All intervals quoted are down hole depths

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Table 2 . Significant new RC drilling intersections from the Netiana Lodes

	From (m)	To (m)
Hole ID			Intersection	Lode(s)
BRC251	45	47	2m@0.9g/tgold	Netiana
BRC252	34	36	2m@0.9g/tgold	“
BRC252	74	75	1m@0.5g/tgold	“
BRC252	131	132	1m@0.5g/tgold	“
BRC252	141	147	6m@1.5g/tgold	“
BRC253	7	8	1m@8.3g/tgold	“
BRC254	65	66	1m@1.9g/tgold	“
BRC254	70	71	1m@1.3g/tgold	“
BRC255	51	56	5m@0.8g/tgold	“
BRC255	109	117	8m@ 1.1g/tgoldincl. 1m no sample	“
BRC255	122	123	1m@0.6g/tgold	“
BRC258	10	11	1m@0.8g/tgold	“

Notes:

1. All holes were drilled entirely by reverse circulation drilling.

2. Analysis performed by the BIGS laboratory, Ouagadougou, Burkina Faso, using standard fire assay/AAS methods. Samples returning values greater than 50 g/t gold were re-assayed using a gravimetric finish.

3. All results of QA/QC samples are routinely monitored to be within acceptable limits for the type of assay method used.

1. All assays are quoted to one decimal place.

2. Gold intercepts were calculated with a 0.5 g/t gold cut-off. A maximum of 3m internal dilution was allowed. No upper cut-off has been applied.

3. All intervals quoted are down hole depths

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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: 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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