ASARA RESOURCES LIMITED — Capital/Financing Update 2017

Aug 1, 2017

ASX/Media Announcement 2 August 2017

Secondary Trading Notice and Disclosure under Listing Rules 7.1A.4(b) and 3.10.5A

Golden Rim Resources Ltd (ASX: GMR, Golden Rim, Company ) today announced that it has issued 178,782,000 fully paid ordinary shares in the capital of the Company ( Shares ) at an issue price of 0.25 cents per Share ( Placement Shares ) to raise $446,955 (before costs). The Placement Shares are in a class of securities quoted on the Australian Securities Exchange ( ASX ).

Secondary Trading Notice

The Corporations Act 2001 (Cth) (Act) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under 708 or 708A of the Act. By the Company giving this notice, sale of the Shares noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

1. the Placement Shares were issued without disclosure to investors under Part 6D.2 of the Act;

2. this notice is given pursuant to paragraph 5(e) of section 708A of the Act

3. as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and section 674 of the Act; and

4. as at the date of this notice there is no information:

   • (a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

   • (b) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

     • (i) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

     • (ii) the rights and liabilities attaching to the Shares.

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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Disclosure under Listing Rules 7.1A.4(b) and 3.10.5A

In accordance with Listing Rules 7.1A.4(b) and 3.10.5A the Company advises as follows in relation to the Placement Shares:

• (a) The Company issued a total of 178,782,000 Placement Shares all of which were issued under the Company’s additional placement capacity under Listing Rule 7.1A. The issue of the Shares under Listing Rule 7.1A resulted in the following dilution to existing Shareholders:

  • 1,966,602,000 Shares were on issue prior to the issue of securities under the Placement.

  • The number of Shares on issue following the issue of the Placement Shares under Listing Rule 7.1A is 2,145,384,000.

  • The percentage of voting dilution following the issue of the Placement Shares under Listing Rule 7.1A is 8.3%.

• (b) The Board resolved to proceed with the issue of the Placement Shares, and not a pro-rata issue or other type of issue in which existing Shareholders would have been able to participate, as it considered it to be the most expedient and cost effective way to raise funds with certainty. The Company also considered that there were significant benefits in introducing a new cornerstone investor.

• (c) The Placement was not underwritten. No fees were paid to any brokers with respect to the Placement.

-ENDS-

Contact Information

Hayley Butcher Golden Rim Resources Ltd Company Secretary +61 0409 880 009 E: info@goldenrim.com.au W:goldenrim.com.au

Richard Glass Citadel-MAGNUS +61 8 6160 4902 rglass@citadelmagnus.com

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