ASARA RESOURCES LIMITED — Capital/Financing Update 2017

Oct 9, 2017

ASX/Media Announcement 10 October 2017

Two Drilling Rigs Now Operating at the Kouri Gold Project as RC Drilling Commences

Golden Rim Resources Ltd (ASX: GMR) ( Golden Rim or Company ) advises that it has commenced its reverse circulation ( RC ) drilling program at the Kouri Gold Project ( Kouri ) in Burkina Faso.

The RC program is comprised of approximately 120 holes for approximately 15,000m of drilling at the Banouassi Prospect ( Banouassi ) which is situated in the north-east portion of Kouri. The proposed drill hole locations are depicted on Figure 1.

Golden Rim now has two drilling rigs operating at Banouassi. Along with the RC drilling program, the Company has a 12 hole (1,500m) diamond drilling program that commenced on 4 October 2017. Both of the drilling programs include infill drilling and drilling to test for extensions to the gold mineralisation at depth and along strike.

Golden Rim’s Managing Director, Craig Mackay, said: “Three weeks after our successful $2.57m rights issue, we have employed an exploration team, set up a camp, repaired the access road at Kouri and now have two drilling rigs operating, around the clock.”

“The diamond drilling is progressing very well. We are intersecting significant quartz veining and have just commenced the fourth hole in the planned 12 hole program.”

“Both of the drilling programs are anticipated to be completed by early December 2017. We expect to release drilling assay results as they come to hand.”

-ENDS-

Contact Information

Hayley Butcher Tony Dawe Golden Rim Resources Ltd Citadel Magnus Company Secretary tdawe@citadelmagnus.com +61 0409 880 009 +61 405 989 743

The information in this report relating to previous exploration results is extracted from the announcements 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; New High Grade Gold Intercepts Move Kouri Closer to Maiden Resource dated 6 July 2017; Korongou Project Delivers Significant RC Drilling Results dated 18 June 2013; Korongou Delivers Significant Drilling Results dated 7 July 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.

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. RC drill collars labelled with >10 m x g/t gold intercepts and the interpreted zones of gold mineralisation over a satellite image at Banouassi. The location of the proposed RC holes and diamond holes for the current drilling program are shown in green and red circles respectively.

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Photograph 1. First hole of the current RC drilling program (BARC131) commences at Banouassi

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Photograph 2. Quartz veining in the first hole (BADH001) in Golden Rim’s diamond drilling program at Kouri.

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