ASARA RESOURCES LIMITED — Capital/Financing Update 2016

Jul 4, 2016

ASX/Media Announcement

5 July 2016

Acquisition Update Zinc – Silver - Lead Project in Chile

Golden Rim Resources Ltd (ASX: GMR, Golden Rim , Company ) refers to its previous announcement with respect to its intention to acquire all the issued shares in Herencia’s wholly owned subsidiary Paguanta Resources (Chile) SA ( PRC ) ( Proposed Transaction ). PRC holds 70% of the shares in Compania Minera Paguanta S.A. ( CMP ) which holds mineral concessions at the Paguanta zinc-silver-lead project in northern Chile (see Company announcement of 10 May 2016).

Completion under the Proposed Transaction was due to take place no later than 4 July 2016. The parties, however, have agreed to extend the date of completion to no later than 29 July 2016.

The parties intend to advance to completion as quickly as possible. In the meantime, Golden Rim is well advanced in its due diligence investigations. Technical due diligence has been completed and only a few financial and legal due diligence matters remain outstanding, including receipt of the audited accounts of CMP and PRC.

Golden Rim’s Managing Director, Craig Mackay, said “The Paguanta Project presents as an excellent opportunity for Golden Rim to secure an advanced zinc-silver-lead project located in a favourable jurisdiction, which can be quickly progressed to a decision to mine.”

“We have seen a strong rise in zinc (39%) and silver (42%) prices since the start of 2016 and we look forward to the completion of this exciting acquisition and for work to commence.”

-ENDS-

Golden Rim Resources Ltd I ABN 39 006 710 774 I Office 7, Level 2, 609 Canterbury Road, Surrey Hills, VIC 3127, Australia www.goldenrim.com.au I info@goldenrim.com.au I T + 61 3 9836 4146

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Forward Looking Statements

Certain statements in this document are or maybe “forward-looking statements” and represent Golden Rim’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Golden Rim, and which may cause Golden Rim’s actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Golden Rim does not make any representation or warranty as to the accuracy of such statements or assumptions.

For further information, please contact:

Hayley Butcher Golden Rim Resources Ltd Company Secretary +61 0409 880 009

Company Information

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

Capital Structure: Issued Shares: 1,438,520,000 Unlisted Options: 143,358,400

Share Registry: Link Market Services Limited Central Park Level 4 152 St Georges Terrace Perth WA 6000 Telephone: (+61) 1300 554 474 Fax: 02 9287 0303

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