ASARA RESOURCES LIMITED — Capital/Financing Update 2017

Jul 6, 2017

ASX/Media Announcement

7 July 2017

PLACEMENT OF REMAINING 15% PLACEMENT CAPACITY

Golden Rim Resources Ltd (ASX:GMR, Golden Rim or Company) advises that it has now utilised its remaining placement capacity under Listing Rule 7.1 to issue 40,382,000 fully paid ordinary shares in the Company (Shares) at an issue price of 0.25 cents per Share, together with a free attaching unlisted option on the basis of one option for every two Shares subscribed for, with each option exercisable at 0.5 cents and expiring on the date that is three years after the date of issue (Options) to raise up to $100,955 (before costs) (Placement). The Placement was made to sophisticated investors and is on the same terms as the placement announced on 27 June 2017.

Together with the previous placement (27 June 2017), the Company has now allocated its full 15% placement capacity under Listing Rule 7.1, raising a combined total of $446,955 (before costs).

The Shares and Options will be issued shortly under Listing Rule 7.1, and is therefore not subject to shareholder approval.

Funds received under the Placement will enable the Company to complete its compilation and interpretation of the recent drilling programs at both the Paguanta Zinc-Silver-Lead Project in Chile and the Kouri Gold Project in Burkina Faso, as well as for administration and general working capital purposes.

Further details regarding Company’s projects are set out in Annexure A.

-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

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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Annexure A

PROJECT BACKGROUND

Paguanta Zinc-Silver-Lead Project

The Company has announced an updated Measured, Indicated and Inferred Mineral Resource at the Patricia Prospect (Patricia) of 2.4Mt at 5.0% zinc, 1.4% lead, 88 g/t silver and 0.3 g/t gold ( 8.0% Zn Eq ). Recent diamond drilling has outlined significant extensions to the mineralisation at Patricia, particularly at depth. There are currently large voids in the resource where infill drilling is planned and an expanded resource estimate is envisaged by the end of 2017.

Kouri Gold Project

The Company has planned a drilling program at the Banouassi Prospect (Banouassi) designed to define a maiden JORC gold resource by the end of 2017. The drilling program is expected to be rolled out in two stages, with an initial reverse circulation (RC) program having just been completed. A larger infill and extensional RC and diamond drill program is expected to commence at Banouassi in October 2017.

Competent Person Statements

The information in this report relating to Mineral Resources is extracted from the announcements New Resource Estimation for Paguanta dated 30 May 2017 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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