ASARA RESOURCES LIMITED — Capital/Financing Update 2017

Dec 20, 2017

ASX/Media Announcement 21 December 2017

Further High Grade Gold Hits at Kouri

Results include 12m at 7.8 g/t gold, incl. 4m at 21.2 g/t gold

• Results continue to confirm the presence of multiple high grade gold zones along the Guitorga Lodes

• New high grade intercepts include:

• 12m at 7.8 g/t gold from 77m, including 4m at 21.2 g/t gold in BARC198;

• 4m at 20.0 g/t gold from 23m, including 1m at 76.4 g/t gold in BARC169;

• 13m at 4.0 g/t gold from 49m, including 1m at 31.6 g/t gold and 8m at 3.9 g/t gold from 108m in BARC192;

• 6m at 8.3g/t gold from 10m and 4m at 8.2 g/t gold from 59m in BARC190;

• 2m at 23.9 g/t gold from 51m and 9m at 2.2 g/t gold from 120m in BARC197; and

• 2m at 9.8g/t gold from 37m; including 1m at 19.0g/t gold in BARC165

• Infill and extensional resource drilling has now been completed over approximately 1.5km of the Guitorga Lodes which extend for a total strike length of over 3km

• Deeper drilling has further extended the known depth of the Guitorga Lodes to 180m below surface - mineralisation remains open at depth

• Drilling contractor, Ausdrill Limited ( Ausdrill ), is expected to start drilling on 23 December 2017

Golden Rim Resources Ltd (ASX: GMR) ( Golden Rim or Company ) is pleased to advise that the resource definition drilling program at its 100% owned Kouri Gold Project ( Kouri ) in Burkina Faso continues to progress well. The Company has received all assay results for its recently completed diamond drilling program and its reverse circulation ( RC ) holes completed to date, being 8,900m of the planned 15,000m RC drilling program.

New assay results have been received for diamond drill holes BADH001 - 002 and RC drill holes BARC164 – 198. The drill hole location details and significant gold intercepts for these holes are depicted in Figures 1 and 2 and Tables 1, 2 and 3.

High Grade Gold Zones

Several zones of high-grade gold mineralisation have been delineated on the Guitorga Lodes at Kouri. The areas with high-grade gold mineralisation identified to date are labelled Zones A to C on Figure 1 and are further described below.

These zones may be related to areas where a series of east-west trending cross-structures intersect the north-east trending Guitorga Lodes. The cross-structures are highlighted in Golden Rim’s ground magnetic data. In the recent diamond drilling it was found that a magnetic mineral, pyrrhotite, is associated with some of the gold mineralisation at Kouri.

Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 609 Canterbury Road, Surrey HillsVIC3127, Australia I PO Box 124, Surrey Hills VIC 3127, Australia www.goldenrim.com.au I info@goldenrim.com.au I T + 61 3 9836 4146

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Figure 1. Diamond and RC drill collars with >10 m x g/t gold intercepts and the interpreted zones of gold mineralisation over a ground magnetics image at Kouri. Interpreted areas of high grade mineralisation are depicted as Zones A – C. The drill collars and gold intercepts in the north-east corner of the Guitorga Lodes are depicted in greater detail in Figure 2

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Zone A

Golden Rim previously announced intercepts of 12m at 8.3 g/t gold from 92m, including 1m at 78.9 g/t gold in BARC154 on Section 11,250mN and three closely spaced parallel intercepts of 2m at 7.0 g/t gold from 97m; 4.2m at 18.8 g/t gold from 104.8m, including 0.6m at 138.4 g/t gold; and 0.8m at 7.9 g/t gold from 122.2m in BADH004 on Section 11,350mN.

A 50m infill drill section (Section 11,300mN) was recently completed between these previous holes and intersected a number of parallel zones of gold mineralisation, including 12m at 7.8 g/t gold from 77m, including 4m at 21.2 g/t gold in BARC198 and 2m at 23.9 g/t gold from 51m and 9m at 2.2 g/t gold from 120m in BARC197, confirming the strike continuity of the high grade mineralisation for approximately 100m in this area (Figure 3).

New intercepts of 2m at 9.8 g/t gold from 37m, including 1m at 19.0 g/t gold in BARC165 and 4m at 20 g/t gold from 23m, including 1m at 76.4 g/t gold in BARC169 were obtained 250m and 350m respectively to the south-west of BARC154 highlighting the potential to extend the strike of Zone A considerably in this direction.

New intercepts of 13m at 4.0 g/t gold from 49m, including 1m at 31.6 g/t gold and 8m at 3.9 g/t gold from 108m in BARC192 were intersected on Section 11,450mN, suggesting the strike extent of Zone A may also extend to the northeast for at least 100m.

Zone B

Golden Rim previously announced intercepts of 4m at 6.1 g/t gold from 79m, including 1m at 21.9 g/t gold in BARC124 and 1m at 12.0 g/t gold from 26m and 7m at 8.4 g/t gold from 34m, including 2m at 27.3 g/t gold in BARC125 on Section 10,000mN.

An infill hole on Section 10,000mN returned 6m at 8.3 g/t gold from 10m and 4m at 8.2 g/t gold from 59m in BARC190 confirming the high grade zone.

Zone C

Golden Rim previously announced intercepts of 21m at 5.6 g/t gold from 13m, including 8m at 11.8 g/t gold in BARC083 on Section 8,750mN. Given the associated magnetic anomaly, the Company believes this area may also be prospective for further high grade mineralisation. Additional drilling around this intercept is planned in the current RC drilling program to confirm any extensions to the high grade mineralisation.

Guitorga Hill

Results from the RC drilling program have extended the strike of the gold mineralisation for a further 200m to the northeast of the Exploration Target into an area where gold mineralisation is currently being exploited by artisanal miners beneath a prominent laterite capped hill, named Guitorga Hill, where no drilling has been conducted to date (Figure 2).

Golden Rim has completed its first hole (BARC185) on Guitorga Hill outside the area of artisanal mining and has intersected multiple zones of gold mineralisation hosted in a granodiorite intrusion. Intercepts include: 4m at 3.1 g/t gold from 175m, including 1m at 10.5 g/t gold; and 2m at 3.1 g/t gold from 198m (at the bottom of the hole).

The discovery of the granodiorite is significant as such intrusive rocks in mineralised areas of Burkina Faso can often host substantial gold mineralisation. A further 5 holes are planned to test the area of artisanal workings at Guitorga Hill as part of the current RC drilling program.

RC drilling by Ausdrill

RC drilling contractor, PPI Burkina SA, was demobilised from Kouri on 10 December 2017. Ausdrill is expected to mobilise to site on 23 December 2017 to complete the remainder of the planned 15,000m RC drilling program (6,100m remaining).

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Under its US$1m drilling for equity agreement with Ausdrill, Golden Rim intends to extend the current RC drilling program to further delineate and expand zones of high grade gold mineralisation prior to the preparation of the Mineral Resource estimate scheduled for the first quarter of 2018.

Mineralisation Depth Extended and Upside

Infill and extensional resource drilling assay results received to date cover approximately 1.5km of strike on the Guitorga Lodes. Approximately 1km in the north-east portion of the Guitorga Lodes and 0.5km in the centre of the Guitorga Lodes has been covered. The total strike length of the Guitorga Lodes is over 3km and the remainder of the RC program is designed to test all of this strike length, including the 650m gap in the Exploration Target which remains to be tested.

Several areas of deeper drilling have extended the depth of the Guitorga Lodes to 180m below surface with the mineralisation remaining open at depth.

Golden Rim’s Managing Director, Craig Mackay, notes that the Company is highly encouraged with the results received to date which confirm the significant potential of gold mineralisation at Kouri:

“The Company has now received more than half of the results of its originally proposed resource definition drilling program at Kouri. The results continue to delineate the multiple parallel lodes of gold mineralisation that are expected to comprise the bulk of the maiden Mineral Resource estimate for Kouri. Significantly, the drilling is also outlining zones of higher grade gold mineralisation.

Considerable further upside potential remains at the Guitorga Lodes. So far, the infill and resource drilling has been completed over a strike length of approximately 1.5km. The Guitorga Lodes extend for over 3km and therefore we are looking forward to further drilling and results from the Company’s ongoing RC drilling program ”.

-ENDS-

Contact Information

Hayley Butcher

Golden Rim Resources Ltd General Manager, Corporate & Company Secretary +61 0409 880 009

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Competent Persons Statement

The information in this report that relates to exploration results 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.

The information in this report relating to previous exploration results and an Exploration Target are extracted from the announcements High Grade Gold Zone Intersected at Kouri dated 28 November 2017; Gold Intercepts Move Kouri Closer to Maiden Resource dated 6 July 2017; Initial Exploration Target Defined for Korongou dated 17 July 2015; Guitorga Delivers Significant Drilling Results 21m at 5.6 g/t gold including 8m at 11.8 g/t gold from 13m dated 11 May 2015; Korongou Delivers Significant Drilling Results dated 7 July 2014; Korongou Project Delivers Significant RC Drilling Results dated 18 June 2013, 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.

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.

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Figure 2. Diamond and RC drill collars for the north-east portion of the Guitorga Lodes with >10 m x g/t gold intercepts and the interpreted zones of gold mineralisation over a satellite image. The location of Guitorga Hill where a gold mineralised granodiorite intrusion has been discovered is depicted. Gold intercepts from the current drilling program are depicted in pink boxes.

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Figure 3. New drill Section 11,300mN on the Guitorga Lodes showing multiple parallel zones of gold mineralisation over a width of approximately 100m. The location of the section is shown as A – A’ on Figure 2.

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Table 1. New RC drill hole collar details

Hole ID	Easting (m)	Northing (m)	RL (m)	Dip (o)	Azimuth (o)	EOH (m)
BARC164	180723	1408991	291	-55	150	100
BARC165	180246	1408912	286	-55	150	120
BARC166	180271	1408868	285	-55	150	120
BARC167	180297	1408824	283	-55	150	120
BARC168	180320	1408783	285	-55	150	120
BARC169	180163	1408873	284	-55	150	170
BARC170	180209	1408796	285	-55	150	160
BARC171	180247	1408728	284	-55	150	180
BARC172	180095	1408748	281	-55	150	118
BARC173	179910	1408890	280	-55	150	130
BARC174	179961	1408804	281	-55	150	120
BARC175	179984	1408764	280	-55	150	120
BARC176	180010	1408718	282	-55	150	120
BARC177	179465	1408463	277	-55	150	120
BARC178	179492	1408419	276	-55	150	120
BARC179	179517	1408375	277	-55	150	120
BARC180	179543	1408332	276	-55	150	120
BARC181	179567	1408289	277	-55	150	120
BARC182	179592	1408247	277	-55	150	120
BARC183	180147	1408253	284	-55	150	100
BARC184	180171	1408209	284	-55	150	100
BARC185	180543	1409253	290	-55	150	200
BARC186	179301	1408345	284	-55	150	120
BARC187	179326	1408302	284	-55	150	120
BARC188	179351	1408259	284	-55	150	120
BARC189	179376	1408216	284	-55	150	120
BARC190	179372	1408323	284	-55	150	140
BARC191	180455	1408963	284	-55	150	140
BARC192	180556	1409072	284	-55	150	190
BARC193	180581	1409029	284	-55	150	140
BARC194	180405	1409049	284	-55	150	246
BARC195	180500	1408970	284	-55	150	130
BARC196	180512	1408949	284	-55	150	128
BARC197	180474	1409013	284	-55	150	160
BARC198	180487	1408992	284	-55	150	150

Notes:

• BARC prefix denotes reverse circulation (RC) drilling

• • Coordinate projection is UTM, WGS 84 zone 31 North

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Table 2. Significant intercepts from the diamond drilling at Kouri

Hole ID	From (m)	To (m)	Significant Intersections (>0.5 g/t gold)
BADH001	19.75	21.5	1.75m at 1.3g/t Au
BADH001	42.95	43.7	0.75m at 2.2g/t Au
BADH001	47.75	49	1.25m at 0.8g/t Au
BADH001	55.15	55.87	0.72m at 4.9g/t Au
BADH002	10.27	18.3	8.03m at 0.7g/t Au

Notes:

• All reported intersections are assayed on geological intervals ranging from 0.5m to 2m.

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

• Intervals are reported with a maximum of 3m of internal dilution unless the total intercept grade falls below 0.5 g/t gold

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

• Assayed by 50g charge fire assay with Atomic Absorption Spectrometry (AAS) finish

Table 3. Significant intercepts from the RC drilling at Kouri

Hole ID	From (m)	To (m)	Significant Intersections (>0.5 g/t gold)
BARC164	4	5	1m at 2.6g/t Au
BARC164	14	22	7m at 1.0g/t Au; incl. 1m at 3.7g/t from 20m
BARC164	31	32	1m at 3.2g/t Au
BARC164	55	56	1m at 1.6g/t Au
BARC165	15	18	3m at 1.5g/t Au
BARC165	37	39	2m at 9.8g/t Au; incl. 1m at 19.0g/t from 37m
BARC165	43	44	1m at 0.6g/t Au
BARC165	63	64	1m at 0.7g/t Au
BARC165	90	95	5m at 1.9g/t Au; incl. 1m at 4.1g/t from 94m
BARC165	100	101	1m at 0.7g/t Au
BARC166	0	2	2m at 2.9g/t Au; incl. 1m at 5.3g/t from surface
BARC166	26	27	1m at 2.8g/t Au
BARC166	35	36	1m at 2.0g/t Au
BARC166	44	45	1m at 1.0g/t au
BARC166	53	55	2m at 1.9g/t Au; incl. 1m at 3.1g/t from 53m
BARC166	63	64	1m at 1.9g/t Au
BARC166	68	77	9m at 1.2g/t Au; incl. 1m at 6.0g/t from 75m
BARC166	83	87	4m at 0.7g/t Au
BARC166	93	94	1m at 0.5g/t Au
BARC166	98	100	2m at 2.5g/t Au; incl. 1m at 4.0g/t from 99m
BARC166	112	113	1m at 0.5g/t Au
BARC167	2	3	1m at 0.5g/t Au
BARC167	15	22	7m at 0.9g/t Au; incl 1m at 3.6g/t from 16m
BARC167	33	38	5m at 1.4g/t Au; Incl. 1m at 5.0g/t from 33m
BARC167	54	55	1m at 0.6g/t Au
BARC167	59	61	2m at 3.3g/t Au; incl. 1m at 4.9g/t Au from 59m
BARC167	67	68	1m at 0.9g/t Au
BARC167	99	100	1m at 2.7g/t Au
BARC167	109	120	11m at 0.5g/t Au
BARC168	15	18	3m at 0.5g/t Au
BARC168	39	40	1m at 4.1g/t Au
BARC168	50	54	4m at 0.8g/t Au

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Hole ID	From (m)	To (m)	Significant Intersections (>0.5 g/t gold)
BARC168	68	70	2m at 0.5g/t Au
BARC168	91	93	2m at 2.6g/t Au; incl. 1m at 4.4g/t from 91m
BARC168	110	111	1m at 0.8g/t Au
BARC169	23	27	4m at 20.0g/t Au; incl. 1m at 76.4g/t from 25m
BARC169	43	44	1m at 0.7g/t Au
BARC169	48	49	1m at 2.9g/t Au
BARC169	63	64	1m at 0.9g/t Au
BARC169	89	90	1m at 1.0g/t Au
BARC169	106	108	2m at 0.7g/t Au
BARC169	115	116	1m at 1.1g/t Au
BARC169	131	135	4m at 0.7g/t Au
BARC169	141	142	1m at 0.6g/t Au
BARC169	145	146	1m at 0.6g/t Au
BARC170	0	2	2m at 1.4g/t Au
BARC170	12	13	1m at 0.9g/t Au
BARC170	17	19	2m at 2.7g/t Au, incl. 1m at 4.4g/t Au from 17m
BARC170	25	26	1m at 1.0g/t Au
BARC170	38	39	1m at 1.7g/t Au
BARC170	50	51	1m at 0.5g/t Au
BARC170	56	57	1m at 1.6g/t Au
BARC170	87	88	1m at 0.6g/t Au
BARC170	102	104	2m at 1.0g/t Au
BARC170	107	110	3m at 0.5g/t Au
BARC170	124	127	3m at 0.7g/t Au
BARC171	38	39	1m at 0.9g/t Au
BARC171	47	53	6m at 1.4g/t Au; incl. 1m at 3.7g/t Au from 51m
BARC171	140	141	1m at 3.2g/t Au
BARC171	162	163	1m at 1.2g/t Au
BARC172	3	4	1m at 0.9g/t Au
BARC172	32	33	1m at 2.0g/t Au
BARC172	53	54	1m at 0.8g/t Au
BARC172	61	62	1m at 0.5g/t Au
BARC172	70	71	1m at 5.4g/t Au
BARC172	83	84	1m at 0.6g/t Au
BARC173	16	17	1m at 0.7g/t Au
BARC173	63	64	1m at 1.1g/t Au
BARC174	44	46	2m at 3.5g/t Au: incl. 1m at 6.5g/t from 44m
BARC174	51	53	2m at 1.5g/t Au
BARC174	67	68	1m at 0.5g/t Au
BARC174	90	91	1m at 0.6g/t Au
BARC174	94	95	1m at 0.6g/t Au
BARC174	114	116	2m at 6.0g/t Au; incl. 1m at 10.7g/t from 114m
BARC174	116	117	No sample
BARC174	117	118	1m at 1.0g/t Au
BARC175	11	14	3m at 2.5g/t Au; incl. 1m at 6.2g/t from 12m
BARC175	46	52	6m at 1.1g/t Au; incl. 1m at 4.2g/t from 46m
BARC175	64	65	1m at 0.5g/t Au
BARC175	90	95	5m at 0.8g/t Au

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Hole ID	From (m)	To (m)	Significant Intersections (>0.5 g/t gold)
BARC175	105	106	1m at 0.8g/t Au
BARC176	18	19	1m at 0.9g/t Au
BARC176	91	92	1m at 1.0 g/t Au
BARC177	13	14	1m at 1.1g/t Au
BARC177	64	65	1m at 0.6g/t Au
BARC177	68	69	1m at 0.5g/t Au
BARC177	81	82	1m at 0.6g/t Au
BARC177	85	86	1m at 0.5g/t Au
BARC177	94	96	2m at 0.7g/t Au
BARC177	102	103	1m at 2.0g/t Au
BARC177	116	117	1m at 0.5g/t Au
BARC178	1	2	1m at 0.9g/t Au
BARC178	53	55	2m at 2.4g/t Au; incl. 1m at 4.2g/t from 54m
BARC178	117	119	2m at 1.8g/t Au; incl. 1m at 3.0g/t from 118m
BARC179	71	72	1m at 1.6g/t Au
BARC179	96	97	1m at 1.5g/t Au
BARC180	8	12	4m at 0.9g/t Au
BARC180	31	35	4m at 0.6g/t Au
BARC180	48	49	1m at 0.7g/t Au
BARC180	58	59	1m at 0.6g/t Au
BARC180	66	69	3m at 0.8g/t Au
BARC180	84	86	2m at 2.3g/t Au; incl. 1m at 3.3g/t from 85m
BARC181	36	37	1m at 1.1g/t Au
BARC181	41	42	1m at 0.5g/t Au
BARC182	24	25	1m at 1.1g/t Au
BARC182	63	64	1m at 2.1g/t Au
BARC182	63	64	1m at 2.1g/t Au
BARC182	81	82	1m at 1.6g/t Au
BARC182	96	97	1m at 3.4g/t Au
BARC182	105	108	3m at 1.7g/t Au; incl. 1m at 3.6g/t from 106m
BARC183	3	4	1m at 0.5g/t Au
BARC183	14	15	1m at 0.6g/t Au
BARC183	18	19	1m at 0.6g/t Au
BARC183	20	21	1m at 0.5g/t Au
BARC183	35	38	3m at 0.8g/t Au
BARC183	46	47	1m at 0.5g/t Au
BARC183	59	60	1m at 1.4g/t Au
BARC183	97	99	2m at 0.8g/t Au
BARC184	23	24	1m at 1.1g/t Au
BARC184	36	42	6m at 0.6g/t Au
BARC184	45	46	1m at 0.5g/t Au
BARC184	96	97	1m at 0.7g/t Au
BARC185	52	53	1m at 0.5g/t Au
BARC185	81	82	1m at 0.5g/t Au
BARC185	95	103	8m at 0.5g/t Au
BARC185	110	111	1m at 1.2g/t Au
BARC185	175	179	4m at 3.1g/t Au; incl. 1m at 10.5g/t from 176m
BARC185	198	200(EOH)	2m at 3.1g/t Au; incl. 1m at 5.1g/t from 198m.

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Hole ID	From (m)	To (m)	Significant Intersections (>0.5 g/t gold)
BARC186	2	3	1m at 1.8g/t Au
BARC186	16	17	1m at 4.1g/t Au
BARC186	55	56	1m at 1.6g/t Au
BARC186	99	101	2m at 3.2g/t Au; incl. 1m at 5.7g/t from 99m
BARC186	109	118	9m at 0.5g/t Au
BARC187	69	71	2m at 2.9g/t Au; incl. 1m at 4.7g/t from 69m
BARC187	88	89	1m at 1.2g/t Au
BARC187	98	100	2m at 0.7g/t Au from 98m
BARC187	111	112	1m at 1.8g/t Au
BARC187	118	119	1m at 0.5g/t Au
BARC188	13	14	1m at 0.5g/t Au
BARC188	22	30	8m at 0.8g/t Au
BARC188	57	58	1m at 0.5g/t Au
BARC188	61	62	1m at 0.9g/t Au
BARC188	65	66	1m at 0.9g/t Au
BARC188	103	104	1m at 1.2g/t Au
BARC188	113	114	1m at 2.4g/t Au
BARC189	2	3	1m at 2.1g/t Au
BARC189	11	17	6m at 0.9g/t Au
BARC189	23	25	2m at 0.7g/t Au
BARC189	30	33	3m at 1.4g/t Au
BARC189	57	58	1m at 2.7g/t Au
BARC189	64	66	2m at 2.5g/t Au; incl. 1m at 3.9g/t from 65m
BARC189	75	78	3m at 1.1g/t Au
BARC190	10	16	6m at 8.3g/t Au; incl. 3m at 15.2g/t from 12m
BARC190	22	24	2m at 2.5g/t Au; incl. 1m at 3.1g/t from 22m
BARC190	30	31	1m at 0.5g/t Au
BARC190	34	35	1m at 0.7g/t Au
BARC190	59	63	4m at 8.2g/t Au; incl. 2m at 14.8g/t from 60m
BARC190	91	107	16m at 0.6g/t Au; incl. 1m at 4.7g/t from 106m
BARC153	134	139	5m at 0.6g/t Au
BARC153	152	155	3m at 2.8g/t Au; incl. 1m at 7.0g/t from 152m
BARC153	164	165	1m at 0.6g/t Au
BARC149	125	128	3m at 0.9g/t Au
BARC149	160	162	2m at 5.9g/t Au; incl. 1m at 9.5g/t from 161m
BARC149	176	182	6m at 0.8g/t Au
BARC191	19	21	2m at 1.6g/t Au
BARC191	28	29	1m at 0.6g/t Au
BARC191	63	69	6m at 1.0g/t Au
BARC191	76	82	6m at 0.6g/t Au
BARC191	100	101	1m at 0.8g/t Au
BARC191	109	110	1m at 1.0g/t Au
BARC191	126	128	2m at 4.6g/t Au; incl. 1m at 7.9g/t from 126m
BARC191	135	137	2m at 1.1g/t Au
BARC192	6	8	2m at 1.2g/t Au
BARC192	14	15	1m at 0.7g/t Au
BARC192	37	38	1m at 0.6g/t Au
BARC192	44	45	1m at 0.6g/t Au

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Hole ID	From (m)	To (m)	Significant Intersections (>0.5 g/t gold)
BARC192	49	62	13m at 4.0g/t Au; incl. 1m at 31.6g/t from 56m and 1m at 13.7g/t from 59m
BARC192	69	70	1m at 1.6g/t Au
BARC192	79	81	2m at 1.7g/t Au
BARC192	108	116	8m at 3.9g/t Au; incl. 1m at 4.6g/t from 108m and 2m at 11.8g/t from 114m
BARC192	124	125	1m at 1.4g/t Au
BARC192	134	138	4m at 1.4g/t Au
BARC192	160	161	1m at 0.6g/t Au
BARC192	172	173	1m at 1.8g/t Au
BARC193	1	6	5m at 0.5g/t Au
BARC193	10	11	1m at 2.1g/t Au
BARC193	18	19	1m at 0.6g/t Au
BARC193	24	25	1m at 0.8g/t Au
BARC193	29	31	2m at 0.8g/t Au
BARC193	37	42	5m at 1.4g/t Au
BARC193	49	54	5m at 1.5g/t Au; incl. 1m at 6.1g/t from 49m
BARC193	77	78	1m at 1.2g/t Au
BARC193	118	119	1m at 0.8g/t Au
BARC194	1	3	2m at 0.9g/t Au
BARC194	9	11	2m at 0.8g/t Au
BARC194	15	16	1m at 0.8g/t Au
BARC194	72	76	4m at 4.0g/t Au; incl. 1m at 11.9g/t from 72m
BARC194	86	88	2m at 7.0g/t Au
BARC194	138	139	1m at 0.7g/t Au
BARC194	169	170	1m at 0.5g/t Au
BARC194	179	180	1m at 2.9g/t Au
BARC194	184	185	1m at 1.5g/t Au
BARC194	195	196	1m at 5.8g/t Au
BARC194	225	230	5m at 0.8g/t Au
BARC195	6	11	5m at 0.8g/t Au; incl. 1m at 3.1g/t from 10m
BARC195	23	24	1m at 0.6g/t Au
BARC195	45	46	1m at 0.6g/t Au
BARC195	77	78	1m at 0.7g/t Au
BARC195	85	86	1m at 0.8g/t Au
BARC195	99	100	1m at 4.1g/t Au
BARC195	112	123	11m at 1.7g/t Au; incl. 1m at 5.6g/t from 112m and 1m at 7.2g/t from 121m
BARC195	128	130 (EOH)	2m at 2.7g/t Au
BARC196	14	16	2m at 1.2g/t Au
BARC196	22	23	1m at 1.8g/t Au
BARC196	28	31	3m at 0.8g/t Au
BARC196	35	36	1m at 2.2g/t Au
BARC196	40	41	1m at 0.6g/t Au
BARC196	53	54	1m at 2.6g/t Au
BARC196	58	62	4m at 2.5g/t Au; incl. 1m at 9.3g/t from 58m
BARC196	68	69	1m at 0.5g/t Au
BARC196	101	102	1m at 12.2g/t Au

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Hole ID	From (m)	To (m)	Significant Intersections (>0.5 g/t gold)
BARC196	120	125	5m at 1.6g/t Au; incl.1m at 3.8g/t from 124m
BARC197	3	4	1m at 0.9g/t Au
BARC197	18	32	14m at 1.3g/t Au; incl. 1m at 6.7g/t from 23m
BARC197	46	47	1m at 1.6g/t Au
BARC197	51	53	2m at 23.9g/t Au; incl. 1m at 41.6g/t from 51m
BARC197	66	67	1m at 2.3g/t Au
BARC197	77	78	1m at 0.9g/t Au
BARC197	83	84	1m at 0.7g/t Au
BARC197	91	93	2m at 1.2g/t Au
BARC197	103	108	5m at 1.3g/t Au; incl. 1m at 4.8g/t from 103m
BARC197	111	112	1m at 0.5g/t Au
BARC197	120	129	9m at 2.2g/t Au; incl. 3m at 5.4g/t from 122m
BARC197	137	142	5m at 0.9g/t Au
BARC198	2	3	1m at 0.7g/t Au
BARC198	8	15	7m at 0.8g/t Au
BARC198	20	21	1m at 0.9g/t Au
BARC198	29	30	1m at 1.9g/t Au
BARC198	35	36	1m at 0.5g/t Au
BARC198	40	46	6m at 0.7g/t Au
BARC198	57	59	2m at 0.6g/t Au
BARC198	77	89	12m at 7.8g/t Au; incl. 4m at 21.2g/t from 78m
BARC198	93	95	2m a t2.7g/t Au; incl. 1m at 4.7g/t from 94m
BARC198	99	100	1m at 1.2g/t Au
BARC198	109	113	4m at 0.6g/t Au
BARC198	126	129	3m at 2.0g/t Au; incl. 1m at 5.1g/t from 126m
BARC198	134	136	2m at 6.8g/t Au
BARC198	143	147	4m at 0.6g/t Au

Notes:

• 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 unless the total intercept grade falls below 0.5 g/t gold

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

• Assayed by 50g charge fire assay with Atomic Absorption Spectrometry (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 30g 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 the sampling described in this report refers to diamond and reverse circulation (RC) drill samples. • The diamond drilling was sampled using a geologic lithology and/or mineralization boundary bracketing system whereby samples are no less than 0.5m and no more than 2.0m. • The diamond drill core was cut in half with a core saw on site. Half of the core was sampled (right side), retaining the other half on site. • 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. • 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 31N.
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).	• Diamond drilling was carried out using a Golden Bear 1400 rig. • PQ core was used in the weathered zone (85mm in diameter) and HQ core was used for the remainder of the hole (63.5mm in diameter). • The RC rig is a Schramm Rota 685GT equipped with a compressor 1500 CFM- 500 PSI. • RC drilling was carried out sing a 4.5-inch face samplinghammer.
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.	• The diamond drill core was collected in aluminium boxes; labelled with the name of the drillhole, box number and from-to meterage. Drill core strings are identified at the start and end of each string with wooden blocks.

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Criteria	JORC Code Explanation	Explanation
	• 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.	• Diamond and RC recoveries are logged and recorded in the database. There are no significant sample recovery problems. A technician is always present at the rig to monitor and record recovery. • 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 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 sampling details were transferred 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.	• For diamond drilling, the standard sample interval was between 0.5-2m lengths of half core. When duplicate samples were taken quarter core samples were taken. The sampling interval may be broken at changes in geology or mineral zone, so the length of the sample interval can vary. • A technician cut the core in half along the axis using a diamond cutting saw, at intervals defined by the geologist during logging. • Half of the core is stored in the tray for backup purposes, while the other half is collected in a plastic bag for chemical analysis. The bag includes two tickets (one that is loose inside sample bag and one which is stapled to interior of bag) which identify the sample number. The sample numbers are also written on both sides on the exterior of the sample bag. • The geologist leaves one ticket in the core tray at the beginning of each sample interval and stores a duplicate of the

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Criteria	JORC Code Explanation	Explanation
		ticket with the same number, hole-id, from, to, etc. • Samples were then put into sealed sacks and stored securely on site at project. • RC samples were collected on the rig using a three-tier riffle splitter. All samples were dry. • The standard RC sample interval was 1m. • 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 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) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• 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. • 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.	• 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.

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Criteria	JORC Code Explanation	Explanation
	• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss anyadjustment to assaydata.	• 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 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 Kouri permit. • Golden Rim owns 100% of the licence. • 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 Kouri permit has undergone some previous mineral exploration.
Geology	• Deposit type, geological setting and style of mineralisation.	• The Kouri 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 several 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 clearlyexplain whythis is the case.	• Intercepts that form the basis of this announcement are tabulated in Tables 1 to 3, 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.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of	• Diamond samples were taken at intervals ranging from 0.5m to 2.0m. They were

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Criteria	JORC Code explanation	Explanation
	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 clearly stated.	based on observed geological and/or mineralisation boundaries • All RC samples were taken at 1m intervals. • For the 0.5 g/t Au cut-off calculations, up to 3m (down hole) of internal waste, unless the total intercept grade falls below 0.5 g/t gold. • 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).	• Further infill drilling is planned to follow up the results reported in this announcement.

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Criteria	JORC Code explanation	Explanation
	• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commerciallysensitive.

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