ASARA RESOURCES LIMITED — Capital/Financing Update 2014

Jul 6, 2014

ASX/Media Announcement 7 July 2014

Korongou Delivers Significant Drilling Results

• Multiple parallel zones of significant gold mineralisation, over extensive strike lengths, confirmed.

• The best new RC drill intersections include:

• 4m at 9.2 g/t gold from 40m, including 1m at 31.5 g/t gold (NKRC005)

• 6m at 4.0 g/t gold from 41m, including 1m at 17.1 g/t gold (BARC028)

• 2m at 17.2 g/t gold from 44m (BARC029)

• 4m at 9.0 g/t gold from 65m, including 2m at 16.0 g/t gold (BARC035)

• 4m at 5.8 g/t gold from 8m, including 1m at 16.0 g/t gold , and 2m at 2.6 g/t gold from 32m (BARC038)

• 13m at 2.0 g/t gold from 120m, including 1m at 14.9 g/t gold (BARC044)

• 9m at 1.3 g/t gold from 17m (KKRC001).

• Mineralisation in the western and central zones at the Banouassi Prospect is considered to have sufficient continuity to plan a resource definition drilling program

• Assays are pending for two RC holes drilled in the Kom Line to test very high grade gold mineralisation (up to 818 g/t or 26 oz/t gold) discovered in recent rock chip sampling.

Golden Rim Resources Ltd ( Golden Rim ; ASX: GMR) today announced that it has received the majority of the assay results from its reverse circulation ( RC ) drilling program at the Korongou Project in Burkina Faso. The program included 36 holes for a total of 4,492m and was designed to follow up intercepts from last year’s drilling program and to test areas of artisanal mining where significant rock chips have been returned at the Banouassi, Namagdo and Big Veins prospects (Figure 1).

Drill hole location details and significant gold intercepts are listed in Table 1.

Banouassi Prospect

Twenty four holes (BARC026 – BARC49) were drilled at the Banouassi Prospect, located in the NE area of Korongou, where more than 20 gold mineralised, parallel, NE-trending shear structures have been identified in trenches, pits and previous drilling within a 1.2km wide corridor and over a strike length of 3.3km (Figure 1).

Most of the holes returned significant gold intersections and confirmed either down dip or strike extensions to shear-hosted mineralisation intercepted in previous drilling. The majority of the gold

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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mineralised shear structures intersected in the drilling remain open at depth and along strike. The significant new intercepts are displayed in Figure 2.

The best new gold intersections were obtained in the Western Zone which has been the focus of past artisanal mining and small scale mining in a series of pits conducted by the previous explorer, Epsilon Gold Mines ( Epsilon ), since 1996. Epsilon’s two largest open pits (the MCA and MCB pits) lie at the SW end of the zone and provided the majority of the 20,000 oz of gold that was produced by Epsilon.

The new intercepts in the Western Zone are spread along its 2.2km strike length and include: 6m at 4.0 g/t gold from 41m, including 1m at 17.1 g/t gold (BARC028) from beneath the MCB pit in the SW of the zone; 2m at 17.2 g/t gold from 44m (BARC029) in the central portion of the zone; and 4m at 9.0 g/t gold from 65m, including 2m at 16.0 g/t gold (BARC035) in the NE of the zone.

The Western Zone remains open at depth and along strike to the SW and NE. Considerable portions of the Western Zone remain untested by drilling including areas where recent rock chip sampling returned results up to 122.3 g/t gold.

Significant intercepts have also been obtained in the Central Zone.

In the NE portion of the Central Zone, intercepts of 1m at 1.2 g/t gold from 83m; 4m at 1.1 g/t gold from 101m; 13m at 2.0 g/t gold from 120m, including 1m at 14.9 g/t gold; and 4m at 0.9 g/t gold from 139m (BARC044) were obtained down-dip from a previous hole (BARC007). Intercepts from the previous hole (BAR007) included 2m at 1.4 g/t gold from 6m; 5m at 4.7 g/t gold from 16m, including 21.3 g/t gold; 9m at 1.4 g/t gold from 50m; and 12m at 0.5 g/t gold from 72m.

The mineralised structures intersected in holes BARC044 and BARC007 have been mapped over a strike length 900m and remain open to the NE and SW. Assays up to 31 g/t gold have been obtained in rock chip samples.

A new gold mineralised structure was discovered in the SW portion of the Central Zone with an intercept of 4m at 5.8 g/t gold from 8m, including 1m at 16.0 g/t gold ; and 2m at 2.6 g/t gold from 32m (BARC038). The structure can be traced for at least 800m and has returned previous rock chip samples assaying up to 15.9 g/t gold.

Assays are pending for two RC holes (BARC048 & BARC049) drilled in the Kom Line to test very high grade gold mineralisation (up to 818 g/t or 26 oz/t gold) discovered in recent rock chip sampling.

Namagdo Prospect

The Namagdo Prospect lies in the central portion of Korongou and covers at least six parallel gold mineralised shear structures that have been mapped over a strike length of 5km. The widths of these mineralised structures range from 1m to 10m. Rock chip sample results up to 51.5 g/t were previously obtained from these structures (Figure 1).

Nine holes (KKRC003, NKRC005 – NKRC012) were drilled at the Namagdo Prospect.

A new zone of high grade mineralisation has been discovered in the SW portion of the Namagdo Prospect with an intercept of 4m at 9.2 g/t gold from 40m, including 1m at 31.5 g/t gold (NKRC005). The structure hosting this mineralisation seems to have a considerable strike extent and may link up with the same structure hosting the Big Veins mineralisation, 2km to the SW (Figure 3). Follow up drilling is planned.

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Follow up drilling down-dip and along strike from previous hole (NKRC004), with 5m at 1.8 g/t gold from 66m; and 11m at 3.6 g/t gold from 77m returned narrow gold intercepts such as 1m at 4.0 g/t gold from 78m (NKRC009) located 40m along strike to SW.

Big Veins

Three holes (KKRC001, KKRC002, NKRC004) were drilled at the Big Veins Prospect in the SW of Korongou. They are the first holes to be drilled in the area (Figure 3).

Hole KKRC001 was drilled beneath the main artisanal working and intersected a broad zone of oxide gold mineralisation with 9m at 1.3 g/t gold from 17m.

Hole KKRC002 was located 170m along strike to the SW and returned 3m at 1.4 g/t gold from 26m.

The Big Veins mineralisation remains open at depth and along strike and follow up drilling is planned.

Golden Rim’s Managing Director, Craig Mackay, said “The RC drilling at Korongou has confirmed multiple parallel zones of significant mineralisation over extensive strike lengths.”

“We now believe the mineralisation identified in the Western and Central zones at the Banouassi Prospect displays sufficient continuity for Golden Rim to carry out a resource definition drilling program following the rainy season.”

“Several new zones of high grade gold mineralisation have also been discovered, such as 4m at 9.2 g/t gold in hole NKRC005. This mineralisation provides further potential upside and we look forward to a follow up drilling program” said Mr Mackay.

-ENDS-

For further information, please contact:

Craig Mackay Golden Rim Resources Managing Director +61 3 9890 2311

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

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Figure 1. Location of prospects and gold mineralised shear structures (red lines) over aeromagnetics at Korongou .

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Figure 2. Location of RC drill holes, rock chip samples and gold mineralised shear structures (yellow outlines) over satellite imagery at the Banouassi Prospect.

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Figure 3. Location of RC drill holes, rock chip samples and gold mineralised shear structures (yellow outlines) over satellite imagery at the Namagdo and Big Veins prospects.

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Table 1. Significant intercepts from the RC drilling at Korongou

Hole ID	Prospect	Easting	Northing	RL	Zone	Dip	Az	EOH	From	To	Significant Intersections (>0.5g/t gold)
KKRC001	BigVeins	822395	1404116	289	30N	-55	150	120	17	26	**9m at 1.3g/t **
KKRC002	BigVeins	822226	1404081	290	30N	-55	150	80	26	29	3m at 1.41g/t
KKRC003	Namagdo	823832	1405828	303	30N	-55	140	144	53	54	1m at 0.7g/t
KKRC003									81	82	1m at 3.0g/t
KKRC004	BigVeins	822748	1405163	300	30N	-55	140	100			No significant intercepts
NKRC005	Namagdo	824606	1405454	291	30N	-55	150	100	40	44	4m at 9.2 g/t, incl.1m at **31.5g/t **
NKRC006	Namagdo	824351	1406086	296	30N	-55	140	106	67	70	3m at 2.7g/t
NKRC007	Namagdo	824901	1405908	291	30N	-55	150	120			No significant intercepts
NKRC008	Namagdo	825356	1406590	289	30N	-55	150	178			No significant intercepts
NKRC009	Namagdo	825346	1406526	289	30N	-55	150	132	78	79	1m at 4.0g/t
NKRC010	Namagdo	825411	1406574	288	30N	-55	150	147	98	99	1m at 1.5g/t
NKRC011	Namagdo	825232	1406398	289	30N	-55	150	100			No significant intercepts
NKRC012	Namagdo	176542	1407532	268	31N	-55	330	107	59	60	1m at 0.8g/t
NKRC012									66	67	1m at 8.4g/t
NKRC012									73	74	1m at 1.3g/t
BARC026	Banouassi	177818	1408055	267	31N	-55	150	120	2	3	1m at 3.3g/t
BARC026									48	54	6m at 1.6g/t
BARC026									86	87	1m at 0.8g/t
BARC027	Banouassi	177772	1408079	269	31N	-55	150	161	43	44	1m at 0.8g/t
BARC027									52	53	1m at 4.9g/t
BARC027									107	108	1m at 0.8g/t
BARC027									121	123	2m at 2.3g/t
BARC027									143	144	1m at 0.7g/t
BARC027									156	160	**4m at 3.3g/t **
BARC028	Banouassi	177853	1408105	270	31N	-55	150	100	41	47	6m at 4.0 g/t, incl. 1m at **17.1g/t **
BARC028									97	99	2m at 0.7g/t
BARC029	Banouassi	178474	1408436	274	31N	-55	150	100	15	16	1m at 0.7g/t
BARC029									44	46	2m at 17.2 g/t, incl. 1m **at 30.2g/t **
BARC030	Banouassi	178994	1408703	276	31N	-55	150	162	100	101	1m at 1.2g/t
BARC030									117	118	1m at 2.2g/t
BARC030									150	151	1m at 3.4g/t
BARC031	Banouassi	178968	1408656	276	31N	-55	150	135	71	72	**1m at 13.8g/t **
BARC031									95	96	1m at 0.5g/t
BARC032	Banouassi	179041	1408692	276	31N	-55	150	114	74	75	1m at 2.3g/t
BARC033	Banouassi	179332	1408630	276	31N	-55	150	150	18	20	2m at 1.7g/t
BARC033									117	121	4m at 0.7g/t
BARC034	Banouassi	179514	1408897	278	31N	-55	150	144	58	59	1m at 4.2g/t
BARC034									80	81	1m at 1.8g/t
BARC034									113	115	2m at 0.9g/t
BARC035	Banouassi	179617	1408962	278	31N	-55	150	150	60	61	1m at 1.2g/t
BARC035									65	69	4m at 9.0 g/t, incl. 2m at **16.0g/t **
BARC035									93	94	1m at 0.8g/t
BARC035									110	111	1m at 0.5g/t
BARC036	Banouassi	179654	1408886	267	31N	-55	150	106	42	43	1m at 4.3g/t
BARC036									54	55	1m at 2.0g/t
BARC036									88	89	1m at 0.7g/t
BARC036									93	94	1m at 1.6g/t
BARC037	Banouassi	179667	1408860	278	31N	-55	150	100	0	1	1m at 0.9g/t
BARC037									6	7	1m at 0.6g/t
BARC038	Banouassi	179932	1408849	279	31N	-55	150	108	3	4	1m at 2.5g/t
BARC038									8	12	4m at 5.8 g/t, incl. 1m at **16.0g/t **

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Hole ID	Prospect	Easting	Northing	RL	Zone	Dip	Az	EOH	From	To	Significant Intersections (>0.5g/t gold)
BARC038									32	34	2m at 2.6g/t
BARC039	Banouassi	180194	1408821	281	31N	-55	150	105	6	7	1m at 0.9g/t
BARC039									32	33	1m at 0.5g/t
BARC039									37	40	3m at 0.8g/t
BARC039									55	65	10m at 0.8g/t
BARC039									95	96	1m at 2.2g/t
BARC040	Banouassi	180217	1408401	279	31N	-55	330	94	58	59	1m at 0.7g/t
BARC041	Banouassi	180201	1408422	279	31N	-55	150	92			No significant intercepts
BARC042	Banouassi	180139	1408447	279	31N	-55	150	175	82	83	1m at 1.2g/t
BARC042									107	108	1m at 0.5g/t
BARC043	Banouassi	180226	1408457	279	31N	-55	150	192	102	103	1m at 1.1g/t
BARC043									156	157	1m at 3.7g/t
BARC044	Banouassi	180361	1409046	284	31N	-55	150	162	32	33	1m at 0.6g/t
BARC044									40	41	1m at 0.6g/t
BARC044									83	84	1m at 1.2g/t
BARC044									101	105	4m at 1.1g/t
BARC044									120	133	13m at 2.0 g/t, incl. 1m **at 14.9g/t **
BARC044									139	143	4m at 0.9g/t
BARC045	Banouassi	180313	1408971	283	31N	-55	150	132	39	40	1m at 8.6g/t
BARC045									59	60	1m at 0.5g/t
BARC045									65	66	1m at 4.0g/t
BARC045									82	83	1m at 2.6g/t
BARC045									92	93	1m at 3.4g/t
BARC046	Banouassi	180419	1409029	284	31N	-55	150	150	24	25	1m at 0.9g/t
BARC046									53	54	**1m at 13.8g/t **
BARC046									59	60	1m at 3.0g/t
BARC046									86	89	3m at 0.9g/t
BARC046									100	101	1m at 7.5g/t
BARC046									113	118	5m at 1.0g/t
BARC046									127	128	1m at 0.7g/t
BARC047	Banouassi	180732	1408980	284	31N	-55	150	120	35	39	4m at 1.6g/t

Notes:

• All holes are Reverse Circulation (RC) holes

• All reported intersections are assayed at 1m intervals

• Intercept cut-off grade is 0.5 g/t gold

• Intervals are reported with a maximum of 3m of internal dilution of less than 0.5 g/t gold

• No top cut applied

• Coordinate projection is UTM, WGS 84

• Sample preparation and assaying conducted by BIGS Laboratory in Ouagadougou.

• Assayed by 50g charge fire assay with AAS finish

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Appendix 1: JORC Code (2012 Edition), Assessment and Reporting Criteria

Section 1: Sampling Techniques and Data

Criteria	JORC Code Explanation	Explanation
Sampling Techniques	 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	 All of the sampling described in this report refers to reverse circulation (RC) drill samples. The RC drilling was used to obtain 1m samples, from which 2kg was pulverised to produce a 50g charge for fire assay.  The RC samples were reduced to a 2kg sample by riffle splitting on site.  Measures were taken to avoid wet RC drilling.  Samples were all collected by qualified geologists or under geological supervision.  The samples are judged to be representative of the rock being drilled, because representative sub sampling of the RC samples was achieved.  Location of each hole was recorded by hand held GPS with positional accuracy of approximately +/- 5 metres. This was then followed up by surveying with a differential GPS, which is accurate to +/- 0.1m in X, Y and Z. Location data was collected in WGS 84, UTM zone 30N or 31N.  All rock chip samples were submitted to BIGS Laboratory in Ouagadougou for preparation and analysis by 50g Fire Assay (LDL 0.005ppmgold).
Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	 RC drilling was carried out sing a 4.5 inch face sampling hammer.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	 RC recoveries are logged and recorded in the database. Overall recoveries are >75% for the RC. There are no significant sample recovery problems. A technician is always present at the rig to monitor and record recovery.  RC samples were visually checked for recovery, moisture and contamination.  The style of mineralisation, with common higher-grade, requires good recoveries to evaluate the mineralisation adequately. The consistency of the mineralised intervals and density of drilling is considered to prevent any sample bias

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Criteria	JORC Code Explanation	Explanation
		issues due to material loss orgain.
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.  The total length and percentage of the relevant intersections logged.	 Detailed geological logging has been carried out on all drill samples, recording lithology, weathering, structure, veining, mineralisation, grainsize and colour.  Logging of sulphide mineralisation and veining is quantitative.  The geological logging was done using a standardised logging system. This information and the e sample details were entered into Golden Rim’s drilling database.  No judgement has yet been made on whether the geological logging has been sufficient to support Mineral Resource estimation.
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.  Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.  Whether sample sizes are appropriate to the grain size of the material being sampled.	 RC samples were collected on the rig using a three-tier riffle splitter. All samples were dry.  Samples were transported by road to BIGS Laboratory in Ouagadougou.  The sample preparation for all samples follows industry best practice.  At the laboratory all samples were weighed, dried and crushed to -2mm in a jaw crusher. A split of the crushed sample was subsequently pulverised in a ping mill to achieve a nominal particle size of 85% passing 75um.  Field QC procedures involve the use of certified reference material as assay standards, blanks and duplicates for the RC samples. The insertion rate of these averaged 3:30. Field duplicates were taken on 1m RC splits using a riffle splitter.  The sample sizes are considered to be appropriate to correctly represent the style of mineralisation, the thickness and consistencyof the intersections.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.  For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) andwhetheracceptablelevels of	 The laboratory used an aqua regia digest followed by fire assay with an AAS finish for gold analysis.  No geophysical tools were used to determine any element concentrations.  Sample preparation checks for fineness were carried out by the laboratory as part of their internal procedures to ensure the grind size of 90% passing 75 microns.  Internal laboratory QAQC checks are reported by the laboratory.  Review of the internal laboratory QAQC suggests the laboratory is performing within acceptable limits.

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Criteria	JORC Code Explanation	Explanation
	accuracy (ie lack of bias) and precision have been established.	 For RC samples we insert one blank, on standard and one duplicate for every 30 samples.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 Sample data is compiled and digitally captured by Golden Rim geologists.  The compiled digital data is verified and validated by the Company’s database geologist.  Reported results are compiled by the Company’s Senior Geologist and the Managing Director.  There were no adjustments to the assay data.
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	 Down-hole surveys were completed at the end of every hole (where possible) using a Reflex down-hole survey tool. Measurements were taken at approximately every 50 meters.  At the completion of the program all holes are surveyed with a DGPS, which has locational accuracy of +/- 0.1m, X, Y and Z.  Location data was collected in UTM grid WGS84, zone 30 north and zone 31north.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied.	 The drill intercepts are irregularly spaced.  No judgement has been made on whether the drill density is sufficient to calculate a Mineral Resource.  There was no sample composting.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 All drill holes reported here were drilled approximately at right angles to the strike of the target mineralisation.  No orientation based sampling bias has been identified in the data at this point.
Sample security	 The measures taken to ensure sample security.	 Samples are stored on site prior to road transport by Company personnel to the laboratory in Ouagadougou, Burkina Faso.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 There has been no external audit or review of the Company’s techniques or data.

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Section 2: Reporting of Exploration Results

Criteria	JORC Code explanation	Explanation
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	 The RC drilling results are from the Korongou permit. Golden Rim is in an agreement to acquire 90% of the Project.  Tenure is in good standing.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 The area that is presently covered by the Korongou permit has undergone someprevious mineral exploration.
Geology	 Deposit type, geological setting and style of mineralisation.	 The Korongou Project covers part of a highly prospective Lower Proterozoic Birimian, Samira Hill Greenstone belt and is traversed by a significant NE- trending fault splay which is connected to the major Markoye Fault system. This fault system controls a number of major gold deposits in Burkina Faso, including Kiaka (5.9 Moz), Bomboré (5.2 Moz) and Essakan (6.2 Moz).  The mineralisation lies in a package of highly altered volcanic and volcaniclastic host rocks and is associated with a major gold-in-soil anomaly and a prominent dilational structural jog along a regional NE- trendingshear zone.
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain whythis is the case.	 Intercepts that form the basis of this announcement are tabulated in Table 1, within the body of this announcement and incorporate Hole ID, Easting, Northing, Dip, Azimuth, Depth and Assay data for the mineralised intercepts.  Appropriate locality maps for some of the holes also accompanies this announcement.

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Criteria	JORC Code explanation	Explanation
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearlystated.	 All samples were taken at 1m intervals.  For the 0.5 g/t Au cut-off calculations, up to 3m (down hole) of internal waste is included.  No weighting or high grade cutting techniques have been applied to the data reported.  Assay results are generally quoted rounded to 1 decimal place.  Metal equivalent values are not reported in this announcement.
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	 The orientation of the mineralised zone has been established and the drilling was planned in such a way as to intersect mineralisation in a perpendicular manner.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	 Maps are provided in the main text.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 All sample results containing significant (>0.5 g/t) gold are reported the table in the main text.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 There is no other exploration data which is considered material to the results reported in the announcement.
Further work	 The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step- out drilling).  Diagrams clearly highlighting the areas	 Further infill drilling is planned to follow up the results reported in this announcement.

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Criteria	JORC Code explanation	Explanation
	of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

The information in this report that relates to historical values 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.

The information in this report relating to previous rock chip sample results is extracted from the announcements Drilling Programs Underway at Korongou dated 27 May 2014; 818g/t (26 oz/t) Gold Received in Sampling at Korongou and Drilling Update dated 19 June 2014; and 51.5 gt/ Gold Received in Sample at Korongou dated 19 April 2014, and has been reported in accordance with the 2012 edition of the JORC Code. These announcements are available on the Company’s website (www.goldenrim.com.au). The Company confirms that it is not aware of any new information or data that materially affects the information included in these announcements.

The information in this report that relates to exploration results and mineral resources is based on information compiled by Mr Craig Mackay, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Mackay is a full-time employee of Golden Rim Resources Ltd. Mr Mackay has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 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: 827,106,887 Unlisted Options: 100,016,667

Major Shareholders

Acorn Capital 10.62% Royal Group, Abu Dhabi 6.58%

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

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