ASARA RESOURCES LIMITED — Capital/Financing Update 2014

Oct 1, 2014

ASX/Media Announcement 2 October 2014

Consolidation of Ground in North-East Burkina Faso

Golden Rim Resources Ltd (ASX: GMR, Company or Golden Rim ) today announced that it has signed an Agreement to consolidate its Sebba Project with permits held by neighbouring permit holders, Predictive Discovery Limited (ASX: PDI, Predictive ) and Roxgold Inc (TSX.V: ROG, Roxgold ). Under the Agreement, the three parties will cooperatively seek a joint venture partner for their group of exploration permits, covering approximately 1,500km[2] in the Sebba Belt in northeastern Burkina Faso (Figure 1).

The Sebba Belt permits include a series of prospects from which high grade drill intersections have been obtained, including:

• Solna

o 6m at 20.5 g/t gold from 40m including 1m at 111 g/t gold (SOLRC011)

• 2m at 55.8 g/t gold from 65m including 1m at 93.3 g/t gold (SOLRC008)

• 5.6m at 16.1 g/t gold from 205.4m including 1m at 80.7 g/t gold (SOLDD003)

• Tambiri

o 5m at 17.1 g/t gold from 96m including 1m at 71.7 g/t gold (TMBRC007)

o 3m at 18.6 g/t gold from 58m including 1m at 51.3 g/t gold (TMBDD001)

• Komondi

o 1m at 87.2g/t gold from 16m (KRC003)

These results indicate that the ground has significant potential for the discovery of high grade gold resources.

The three companies have decided to combine their ground to optimise the opportunity to identify sufficient high grade gold mineralisation to support a large profitable mining operation. Together, the combined ground maximises the potential upside for any joint venture partner thereby increasing the attractiveness of the package as a whole.

The three companies have agreed to seek external funding partner so that effective exploration of this ground can continue, ideally commencing in the next few months.

Under the Agreement, the parties’ respective interests are:

Golden Rim: 35% Predictive: 45% Roxgold: 20%

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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The Agreement includes Golden Rim’s Sebba Project permits, namely Yipely, Komondi, Maba and Nasoulou.

Craig Mackay, Golden Rim’s Managing Director, said, “The strategy of combining the permits should enable active exploration to continue on the Company’s Sebba Project without significant cost to the Company and for Golden Rim to remain a participant in any future mining development on the highly prospective Sebba Belt. In the meantime, Golden Rim can continue to focus on its key projects in Burkina Faso, being Korongou and Balogo”.

-ENDS-

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Figure 1: Geological Map of Burkina Faso showing the location of the Golden Rim, Predictive and Roxgold permits on the Sebba Belt

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About Golden Rim

Golden Rim is a public exploration company listed on the Australian Securities Exchange (ASX: GMR). Golden Rim is focused on exploring and developing gold resources in West Africa.

The Company has gold projects covering over 2,495 km[2] in the highly prospective Birimian greenstone belts of Burkina Faso. The Company’s primary focus is exploring its Korongou and Balogo projects.

At Korongou, Golden Rim has identified more than 20 sub-parallel gold mineralised zones within a 1.2 km wide shear corridor. At Balogo, Golden Rim has outlined an Inferred Resource of 850,000 tonnes at 6.8 g/t gold for 185,000 ounces at a 0.5 g/t cut-off. Recent exploration has discovered additional high grade gold mineralisation.

The Company has experienced management and a capable exploration team in Burkina Faso. This enables Golden Rim to efficiently conduct its exploration in order to maximise potential opportunities and deliver value to shareholders.

The information in this report that relates to drill intercepts at Solna and Tambiri is extracted from the announcement from Predictive Discovery Limited (ASX: PDI), Consolidation of Ground in North-East Burkina Faso, dated 2 October 2014.

The information in this report that relates to drill intercepts a Komondi and an Inferred Resource 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. Golden Rim continues to report exploration results as defined under the 2004 edition of the JORC Code where those results were initially reported prior to the 2012 edition of the JORC Code. Those exploration results have not been reported to comply with the 2012 edition of the JORC Code on the basis that the information has not materially changed since it was last reported.

For further information, please contact:

Hayley Butcher Golden Rim Resources Ltd Company Secretary +61 8 9481 5758

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Further Company Information

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

Capital Structure

Issued Shares: 1,057,771,216 Unlisted Options: 96,016,667

Major Shareholders

Aurora Minerals 19.5% Acorn Capital 10.58% Royal Group, Abu Dhabi 5.15%

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

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