ASARA RESOURCES LIMITED — Capital/Financing Update 2020

Feb 13, 2020

ASX/Media Announcement

14 February 2020

Major Extensions to Gold Lodes Comprising 1.4Moz Mineral Resource at Kouri

Key Points:

Mineral Resource Extensional Drilling – Kogodou Prospect

• Eastern strike extensions up to 350m confirmed for the multiple gold lodes that comprise the 1.4Moz Mineral Resource. Best new gold intercepts include:

• 15m at 1.2g/t gold from 7m, including 1m at 11.6g/t gold and a 1m artisanal mining cavity (BADH014); and

• 8m at 2.2g/t gold from 106m, including 1m at 14.3g/t gold (GDH004).

• Assays are pending for drill holes located up to 700m east of the Mineral Resource in which strong, multiple zones of quartz – pyrite mineralisation, which is generally associated with gold at Kouri, have been observed suggesting potential for further extensions to the gold lodes.

• Results continue to confirm the potential for a major strike extension to the east of the Mineral Resource and into the Kogodou Prospect where high-grade gold results have been obtained in rock chip sampling over multiple structures for approximately 4km .

• Drilling is continuing at the Kogodou Prospect with a Mineral Resource update scheduled for the June 2020 quarter.

Infill Drilling – Mineral Resource

• New infill drilling in the sparsely drilled NE portion of the Mineral Resource confirms the continuity of the gold lodes in this area. Best intercepts include 6m at 1.9g/t gold from 0m, including 1m at 10.1g/t gold and 7m at 1.7g/t gold from 45m (BADH015).

Regional Drilling

• At Diabatou East, 9km NE of the Mineral Resource, a gold intercept of 2m at 5.7g/t gold from 114m (MRC025) was obtained in the first drilling to test a 1.7km long IP chargeability anomaly highlighting the potential for the discovery of further significant mineralisation.

West African gold explorer, Golden Rim Resources Ltd (ASX: GMR) ( Golden Rim , Company ), is pleased to provide the latest drilling results from its major exploration campaign at the Company’s Kouri Gold Project ( Kouri ) in Burkina Faso.

The current 9,200m reverse circulation ( RC ) and 4,000m diamond drilling program is progressing well, with 2,774m of RC drilling (22 holes) and 1,011m of diamond drilling (7 holes) completed to date.

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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Commenting on the latest drilling results, Golden Rim’s Managing Director, Craig Mackay, said:

“At present, we are systematically stepping out to the east of the existing 1.4Moz Mineral Resource at Kouri, along a major cross-structure and completing fences of drill holes at 100m intervals.

To date, we have drilled holes over 700m to the east of the Mineral Resource. The results so far have been impressive and we still have a further 3km along this cross-structure to explore.

There are also an additional three cross-structures that we have identified to the east of the Mineral Resource that have returned high-grade gold in rock chip samples and which are yet to be drilled.

We believe the potential to considerably expand the Mineral Resource at Kouri is huge.”

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Figure 1. Location of prospects, drill holes and rock chip samples at Kouri on a ground magnetic geophysical image.

Diamond and RC Drilling at Kogodou

The Kogodou Prospect extends for 4km to the east of the current 1.4Moz Mineral Resource. Previous rock chip sample results include 42.8g/t gold, 41.2g/t gold, 32.3g/t gold, 32.1g/t gold and 29.2g/t gold. Most of the rock chip samples were collected from mineralisation hosted in volcanic rocks exposed in artisanal workings and seem to be associated with a series of magnetic-high anomalies that are believed to be related to cross-structures (Structures A – D) (Figure 1).

During December 2019 to February 2020, six diamond holes (BADH013 – 014 and GDH001 – 004) and 12 RC holes (GRC006 – 017) were completed along the cross-structure (Structure B) that extends directly to the east of the Mineral Resource. The location details of these drill holes are depicted in Figures 1 and 2 and hole details are provided in Table 1.

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Assay results have been received for all diamond holes and for RC holes GRC006 – 008. These results are listed in Table 2. The drilling results have confirmed eastern strike extensions of at least 350m to the multiple, parallel gold lodes that comprise the Mineral Resource. The best intercepts from this extensional drilling include:

• 15m at 1.2g/t gold from 7m, including 1m at 11.6g/t gold and a 1m artisanal mining cavity (BADH014);

• 8m at 2.2g/t gold from 106m, including 1m at 14.3g/t gold (GDH004);

• 11m at 0.8g/t gold from 10m, including 1m artisanal mining cavity (GDH003);

• 4m at 1.4g/t gold from 81m (GRC006);

• 4m at 1.1g/t gold from 27m, and 3m at 3.3g/t gold from 117m (GRC007); and

• 15m at 0.3g/t gold from 23m and 3m at 1.8g/t gold from 76m (GRC008).

Assays are pending for drill holes (GRC009 – 017) up to 700m east of the Mineral Resource in which strong, multiple zones of quartz – pyrite mineralisation, which is generally associated with gold at Kouri, have been observed.

RC drilling is continuing at the Kogodou Prospect and a Mineral Resource update for Kouri is scheduled for the June 2020 quarter.

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Figure 2. Location of new drill holes (with new gold intercepts in yellow boxes) testing for eastern extensions to the Mineral Resource into the Kogodou Prospect over a combined ground magnetics and satellite image. Results are pending for holes GRC009 to GRC017.

Infill Drilling in the Mineral Resource

The current spacing in the NE portion of the Mineral Resource is sparse (~100m x 50m) and infill drilling to ~50m x 25m is planned to allow the Mineral Resource to be upgraded.

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Infill diamond hole BADH015 was completed in the NE portion of the Mineral Resource in January 2020 and further RC drilling is planned for March 2020 (Figure 2). The results from BADH015 have confirmed the continuity of the gold lodes within the Mineral Resource in this area and include:

• 6m at 1.9g/t gold from 0m, including 1m at 10.1g/t gold

• 7m at 1.7g/t gold from 45m.

Hole BADH015 was collared in gold mineralisation and a follow-up hole 50m beneath BADH015 is planned to determine the full width of this gold lode.

RC Drilling at the Diabatou Prospect

An intercept of 1m at 0.5g/t gold from 5m was obtained for RC hole MRC022 (160m depth) at the Diabatou Prospect (Figure 3).

MRC022 was completed 380m ENE of previous hole MRC016 which returned 9m at 3.6g/t gold, from 49m, beneath a broad zone of artisanal workings.

The orientation of the gold mineralisation in MRC016 remains uncertain and further follow-up drilling located closer to MRC016 is planned for March 2020.

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Figure 3. Location of drill holes at the Diabatou Prospect over a combined IP geophysics and satellite image.

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RC Drilling at Diabatou East

At the Diababou East Prospect a line of 3 RC holes for 384m (MRC023 – 025) was completed to test a zone that returned high-grade rock chips (up to 21.2g/t gold) and corresponded to an Induced Polarisation ( IP ) chargeability-high anomaly (Figure 4). Significant results include:

• 2m at 5.7g/t gold from 114m (MRC025); and

• 1m at 1.9g/t gold from 56m (MRC023).

These results highlight the potential for the discovery of further significant mineralisation at Kouri.

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Figure 4. Location of drill holes at the Diabatou East Prospect over a combined IP geophysics and satellite image.

-ENDS-

For further information, visit www.goldenrim.com.au or please contact:

Golden Rim Resources Craig Mackay Managing Director Golden Rim Resources +61 3 9836 4146 craig@goldenrim.com.au

This ASX Announcement was authorized for release by the Managing Director of Golden Rim Resources Ltd.

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Table 1. New diamond and RC drill hole collar details

Hole ID	Easting (m)	Northing (m)	RL (m)	Zone	Dip (o)	Azimuth (o)	EOH (m)	Prospect	Assaying Status
MRC022	186,889	1,411,911	290	31N	-55	330	160	Diabatou	Received
MRC023	189,974	1,411,594	299	31N	-55	330	132	Diabatou East	Received
MRC024	189,974	1,411,663	288	31N	-55	330	132	Diabatou East	Received
MRC025	189,994	1,411,544	280	31N	-55	330	120	Diabatou East	Received
GRC006	181,088	1,409,359	290	31N	-55	150	120	Kogodou	Received
GRC007	181,113	1,409,315	290	31N	-55	150	120	Kogodou	Received
GRC008	181,138	1,409,272	290	31N	-55	150	120	Kogodou	Received
GRC009	180,960	1,409,171	290	31N	-55	150	120	Kogodou	Pending
GRC010	181,072	1,409,184	290	31N	-55	150	150	Kogodou	Pending
GRC011	181,098	1,409,141	290	31N	-55	150	120	Kogodou	Pending
GRC012	181,200	1,409,365	290	31N	-55	150	120	Kogodou	Pending
GRC013	181,224	1,409,322	290	31N	-55	150	120	Kogodou	Pending
GRC014	181,249	1,409,279	290	31N	-55	150	120	Kogodou	Pending
GRC015	181,283	1,409,419	290	31N	-55	150	120	Kogodou	Pending
GRC016	181,307	1,409,376	290	31N	-55	150	132	Kogodou	Pending
GRC017	181,333	1,409,332	290	31N	-55	150	120	Kogodou	Pending
GDH001	180,998	1,409,314	300	31N	-55	150	138	Kogodou	Received
GDH002	181,022	1,409,271	290	31N	-55	150	120	Kogodou	Received
GDH003	181,047	1,409,227	290	31N	-55	150	120	Kogodou	Received
GDH004	180,936	1,409,214	290	31N	-55	150	120	Kogodou	Received
BADH013	180,911	1,409,257	290	31N	-55	150	120	Banouassi	Received
BADH014	180,879	1,409,110	290	31N	-55	150	270	Banouassi	Received
BADH015	180,783	1,409,079	290	31N	-55	150	123	Banouassi	Received

Notes:

• MRC prefix denotes RC drilling in the Margou Permit.

• GDH prefix denotes Diamond drilling in the Gouéli Permit. GRC prefix denotes RC drilling in the Gouéli Permit.

• BADH prefix denoted Diamond drilling at the Banouassi prospect (Kouri permit).

• Co-ordinate projection: UTM, WGS 84 zone 31 North.

Table 2. Significant intercepts (≥0.3 g/t gold) from the Mineral Resource infill & extensional drilling at Kouri

Hole ID	From (m)	To (m)	Significant Gold Intersections	Assay Method
GRC006	14	16	2mat 0.7g/t	FPF500
	62	63	1m at 0.4g/t	FPF500
	69	75	6m at 0.3g/t	FPF500
	81	85	4mat 1.4g/t	FPF500
GRC007	0	5	5m at 0.3g/t	FPF500
	27	31	4m at 1.1g/t	FPF500
	39	41	2m at 0.4g/t	FPF500
	75	76	1m at 0.3g/t	FPF500
	99	102	3m at 0.3g/t	FPF500
	109	111	2m at 0.6g/t	FPF500
	117	120	3m at 3.3g/t	FPF500
GRC008	15	16	1m at 0.4g/t	FPF500
	23	38	15m at 0.3g/t	FPF500
	45	47	2m at 0.3g/t	FPF500

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Hole ID	From (m)	To (m)	Significant Gold Intersections	Assay Method
	76	79	3m at 1.8g/t	FPF500
GDH001	21	22	1m at 0.4g/t	FPF500
	46	47	1m at 0.6g/t	FPF500
	51	52	1mat 0.9g/t	FPF500
	61	62	1m at 0.3g/t	FPF500
	64	65	1m at 0.3g/t	FPF500
	71	72	1m at 0.4g/t	FPF500
	89	90	1m at 0.3g/t	FPF500
	114	115	1m at 0.3g/t	FPF500
GDH002	0	1	1m at 2.5g/t	BLC105; FPF500
	8	15	7m at 0.8g/t	BLC105; FPF500
	9	11	Incl. 2m cavity
	19	20	1m at 1.7g/t	BLC105; FPF500
	26	27	1m at 0.4g/t	BLC105; FPF500
	44	45	1mat 0.7g/t	BLC105;FPF500
	75	78	3m at 0.7g/t	BLC105; FPF500
	84	85	1m at 0.3g/t	BLC105; FPF500
	94	96	2m at 0.5g/t	BLC105; FPF500
GDH003	0	5	5m at 0.6g/t	BLC105; FPF500
	10	21	11m at 0.8g/t	BLC105; FPF500
	12	13	Incl. 1m cavity
	26	29	3m at 0.9g/t	BLC105; FPF500
	35	38	3m at 0.8g/t	BLC105; FPF500
	44	45	1mat 0.5g/t	BLC105;FPF500
	61	62	1m at 1.1g/t	BLC105; FPF500
	66	67	1m at 0.6g/t	BLC105; FPF500
	77	78	1m at 1.2g/t	BLC105; FPF500
	81	82	1m at 0.5g/t	BLC105; FPF500
	101	102	1m at 0.5g/t	BLC105; FPF500
GDH004	23	26	3m at 0.5g/t	FPF500
	57	58	1m at 1.1g/t	FPF500
	63	76	13m at 0.3g/t	FPF500
	106	114	8m at 2.2g/t	FPF500
	106	107	Incl. 1m at 14.3g/t	FPF500
BADH013	0	1	1mat 0.7g/t	FPF500
	17	18	1m at 0.3g/t	FPF500
	19	20	1m at 0.3g/t	FPF500
	30	31	1mat 0.3g/t	FPF500
	66	67	1m at 0.9g/t	FPF500
BADH014	7	17	15m at 1.2g/t	BLC105; FPF500
	15	16	Incl. 1m at 11.6g/t	BLC105; FPF500
	18	19	Incl. 1m cavity
	28	29	1m at 0.4g/t	BLC105; FPF500
	30	31	1mat 0.3g/t	BLC105;FPF500
	35	40	5m at 0.5g/t	BLC105; FPF500
	46	47	1m at 0.4g/t	BLC105; FPF500
	61	65	4m at 0.7g/t	BLC105; FPF500
	71	72	1m at 0.5g/t	BLC105; FPF500

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	Hole ID	From (m)	To (m)	Significant Gold Intersections	Assay Method
		109	110	1m at 0.7g/t	BLC105; FPF500
	BADH015	0	6	6m at 1.9g/t	BLC105; FPF500
		5	6	Incl. 1m at 10.1g/t	BLC105; FPF500
		12	13	1mat 0.3g/t	BLC105;FPF500
		19	22	3m at 0.5g/t	BLC105; FPF500
		31	32	1m at 0.3g/t	BLC105; FPF500
		45	52	7m at 1.7g/t	BLC105; FPF500
		106	107	1m at 0.6g/t	BLC105; FPF500

Notes:

• FPF500 is a Fire Assay. A 200g sub-sample is taken from the RC samples for analysis. A 50g charge weight is fused with lithargebased flux, cupelled and the prill dissolved in aqua regia and gold tenor is determined by AAS.

• BLC105 - Bulk Leach Extractable Gold (BLEG) by accelerated cyanide leach using LeachWELL assay tablets with AAS finish. 4- hour leach. Assays over 0.3g/t Au have the residues assayed by Fire Assay. The total gold is the sum of both assays.

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

Table 3. Significant intercepts (≥0.5 g/t gold) from the regional drilling at Kouri

Hole ID	From (m)	To (m)	Significant Gold Intersections	Assay Method
MRC022	5	6	1m at 0.5g/t	FPF500
MRC023	40	41	1m at 0.5g/t	FPF500
	56	57	1m at 1.9g/t	FPF500
MRC024	66	67	1m at 0.5g/t	FPF500
MRC025	16	17	1m at 1.0g/t	FPF500
	114	116	2m at 5.7g/t	FPF500

Notes:

• All reported intersections are assayed at 1m intervals

• Intercept cut-off grade is 0.5g/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.

• Intercept intervals (From and To) are the down hole distances from the collar start (origin) detailed in Table 1.

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

• The samples were assayed by Fire Assay. A 200g sub-sample is taken from the RC samples for analysis. A 50g charge weight is fused with litharge-based flux, cupelled and the prill dissolved in aqua regia and gold tenor is determined by AAS.

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Competent Persons Statements

The information in this report relating to previous exploration results and the Mineral Resource at Kouri are extracted from the announcements: Multiple Structures Hosting High-Grade Gold Identified East of 1.4Moz Mineral Resource at Kouri dated 3 February 2020, More High-Grade Gold Results Obtained at Kouri dated 20 December 2019; New High-Grade Gold Zone Discovered at Kouri dated 19 December 2019; Second Extensive High Grade Gold Target Identified at Kouri dated 11 November 2019; 1.6km Geophysical Anomaly Associated with High Grade Gold at Kouri dated 1 November 2019; Major Exploration Campaign Accelerates at Kouri dated 15 October 2019; Drilling Further Extends Gold Mineralisation Beyond Existing 1.4Moz Mineral Resource at Kouri dated 2 September 2019; Second High-Grade Zone Discovered in Granite at Kouri dated 28 August 2019; 784g/t Gold Bonanza Intercept at Kouri dated 5 August 2019; 1.4 Million Oz of Gold in Upgraded Kouri Mineral Resource dated 3 December 2018; 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 and, in the case of the Mineral Resource estimate, that all material assumptions and technical parameters underpinning estimate continue to apply and have not materially changed.

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.

About Golden Rim Resources

West African gold explorer, Golden Rim Resources Limited (ASX: GMR), is focused on the discovery and development of gold projects in West Africa.

With a decade of experience working in Burkina Faso, the Company is well placed to turn discoveries into real value for shareholders.

The Kouri Gold Project, located in north-east Burkina Faso, contains over 1.4Moz in defined Mineral Resources, with significant upside potential to grow.

Kouri is traversed by a significant NE-trending fault splay that is connected to the major Markoye Fault system. This fault system controls a number of major gold deposits in Burkina Faso, including Kiaka (5.9 Moz gold), Bomboré (5.2 Moz gold), Essakane (7 Moz gold) and Sanbrado (2.8 Moz gold). The mineralised fault system extends into western Niger where the 2.5 Moz Samira Hill is located.

For more information: www.goldenrim.com.au

ASX Code: GMR Market Capitalisation: A$12m

Issued Shares: 1,163m

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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 (e.g. 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.	The sampling described in this report refers to diamond (DD), and reverse circulation (RC) drilling. The diamond drilling was sampled using a geological lithology and/or mineralisation 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. In some areas the entire core is submitted for analysis. RC samples are collected by a three-tier riffle splitter using downhole sampling hammers with nominal 127 to 140mm holes. Samples were all collected by qualified geologists or under geological supervision. The samples are judged to be representative of the rock being drilled. The nature and quality of sampling is carried out under QAQC procedures as per industry standards.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Sampling is guided by Golden Rim’s protocols and Quality Control procedures as per industry standards. To ensure representative sampling, 1m RC samples are collected from a cyclone, passing them through a 3-tier riffle splitter (producing a 2kg sample). Duplicate samples are taken every 30thsample. Measures were taken to avoid wet RC drilling.
	Aspects of the determination of mineralisation that are Material to the Public Report.	Samples were submitted to BIGS Laboratory and ALS Laboratories in Ouagadougou for preparation and analysis. The entire sample is dried, coarse crushed and pulverised to better than 85% of the material passing through a 75-micron (Tyler 200 mesh) screen. Fire Assay: A 200g sub-sample is taken from the samples for analysis. A 50g charge weight is fused with litharge-based flux, cupelled and the prill dissolved in aqua regia and gold tenor is determined by AAS. BLEG: Gold by accelerated cyanide leach using LeachWELL assay tablets over 4 hours with AAS finish on a 1kg sample.
Drilling Techniques	Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. 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.).	The RC rig is EDM 2000 with rods diameter of 114,3mm. The DD rig is YDX 1800 with HQ rods of 63mm. All drill holes were planned to be drilled an optimum angle for intersecting the mineralisation (50 to 60 degrees). Downhole surveying occurred (where-ever possible) at 30m intervals down hole.

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Criteria	JORC Code Explanation	Explanation
		The location of each hole was recorded by hand held GPS with positional accuracy of approximately +/-5m.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	The diamond drill core was collected in aluminium boxes; labelled with the name of the drill hole, box number and from-to meterage. Drill core strings are identified at the start and end of each string with wooden blocks. All RC samples are weighed to determine recoveries. Samples are recovered directly from the rig (via the cyclone and a 3-tier riffle splitter) in 1m intervals.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	All drill samples are visually checked for recovery, moisture and contamination. A technician is always present at the rig to monitor and record recovery. Recoveries are recorded in the database. There are no significant sample recovery problems. The RC rig has an auxiliary compressor and boosters to help maintain dry samples. When wet samples are encountered, the RC drilling is discontinued.
	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.	No relationship is seen to exist between sample recovery and grade. No sample bias is due to preferential loss/gain of any fine/coarse material due to the acceptable sample recoveries obtained by both drilling methods.
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.	Logging of drill samples recorded lithology, mineralogy, mineralisation, weathering, alteration, colour and other features of the samples. Structural measurements are taken from DD core when orientated core is available. The geological logging was done using a standardised logging system. This information and the sampling details were transferred into Golden Rim’s drilling database. All drilling has been logged to a standard that is appropriate for the category of Resource which is being reported.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Logging is both qualitative and quantitative, depending on the field being logged.
	The total length and percentage of the relevant intersections logged.	100% of each relevant intersection is logged in detail.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	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.

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Criteria	JORC Code Explanation	Explanation
		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. In some cases the entire core is sampled in order to increase the sample size being assayed. The geologist leaves one ticket in the core tray at the beginning of each sample interval and stores a duplicate of the ticket with the same number, hole-id, from, to, etc. Samples were then put into sealed sacks and stored securely on site at project.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	RC samples were collected on the rig using a three-tier riffle splitter. The majority of the samples were dry. On the rare occasion that wet samples were encountered, they were dried prior to splitting with a riffle splitter. The standard RC sample interval was 1m.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Samples were transported by road to BIGS Laboratory and/or ALS Laboratory in Ouagadougou. The sample preparation for all samples follows industry best practice. At the laboratory, the entire sample is dried, coarse crushed and pulverised to better than 85% of the material passing through a 75-micron (Tyler 200 mesh) screen.
	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.	Golden Rim has protocols that cover the sample preparation at the laboratories and the collection and assessment of data to ensure that accurate steps are used in producing representative samples. The crusher and pulveriser are flushed with barren material at the start of every batch.
	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.	Sampling is carried out in accordance with Golden Rim’s protocols as per industry best practice. Field QC procedures involve the use of certified reference material as assay standards, blanks and duplicates for the auger samples. Field duplicates were taken on 1m RC splits using a riffle splitter.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	The sample sizes are considered appropriate to correctly represent the style of mineralisation, the thickness and consistency of 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.	Fire Assay: A 200g sub-sample is taken from the RC samples for analysis. A 50g charge weight is fused with litharge-based flux, cupelled and the prill dissolved in aqua regia and gold tenor is determined by AAS.

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Criteria	JORC Code Explanation	Explanation
		BLEG: Gold by accelerated cyanide leach over 4 hours using LeachWELL assay tablets with AAS finish on a 1kg sample. The analytical method is considered appropriate for this mineralisation style and is of industry standard. The quality of the assaying and laboratory procedures are considered to be appropriate for this deposit type.
	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.	No geophysical tools were used to determine any element concentrations.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	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, Golden Rim inserts one blank, one 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.	Reported results are compiled and verified by the Company’s Senior Geologist and the Managing Director.
	The use of twinned holes.	None of the drill holes in this report are twinned.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Primary field data is collected by Golden Rim geologists on standardised logging sheets. This data is compiled and digitally captured. The compiled digital data is verified and validated by the Company’s database geologist.
	Discuss any adjustment to assay data.	The primary data is kept on file. 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.	Drill Collar locations were recorded by hand held GPS with a positional accuracy of approximately +/- 5 metres. Down-hole surveys were completed at the end of every drill 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 will be surveyed with a DGPS, which has locational accuracy of +/- 0.1m, X, Y and Z.
	Specification of the grid system used.	Location data was collected in either UTM grid WGS84, zone 31 North or UTM grid WGS84, zone 30 North
	Quality and adequacy of topographic control.	Topographic control was established by using a survey base station.

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Criteria	JORC Code Explanation	Explanation
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Drilling is conducted has been conducted along lines, with holes spaced at 25 to 50m along that line.
	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.	Drill collar spacing and distribution are sufficient for exploration drilling.
	Whether sample compositing has been applied.	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.	All drill holes reported here were drilled approximately at right angles (150 or 180 degrees) to the strike of the target mineralisation.
	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.	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.

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 reported drilling results are from the Kouri, Gouéli and Margou permits. Golden Rim owns 100% of the permits.
	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.	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 Project 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 (7 Moz).

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Criteria	JORC Code explanation	Explanation
		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-trending shear 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: • easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length.	The body of the report contains tables summarising the DD and RC location data (Hole ID, Easting, Northing, Dip, Azimuth and total Depth) and a list of significant (gold ≥ 0.5g/t for the regional targets and gold ≥ 0.3g/t for the Mineral Resource) intercepts. Appropriate locality maps for some of the holes also accompanies this announcement. Further information referring to the drill hole results can be found on Golden Rim’s website http://www.goldenrim.com.au/site/News-and-Reports/ASX- Announcements
	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 clearly explain why this is the case.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	Diamond drill hole samples were taken at intervals ranging from 0.5m to 2.0m. They were based on observed geological and/or mineralisation boundaries 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 (Regional Targets). For the 0.3 g/t Au cut-off calculations, up to 3m (down hole) of internal waste, unless the total intercept grade falls below 0.3 g/t gold (Mineral Resource). No weighting or high-grade cutting techniques have been applied to the data reported. Assay results are quoted rounded to 1 decimal place.
	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.	Not applicable in this document as no exploration results are announced.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Metal equivalent values are not reported in this announcement.
Relationship between mineralisation	These relationships are particularly important in the reporting of Exploration Results.	The reported drilling results are from exploration drilling, designed to test possible extensions to the known Mineral Resource.

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Criteria	JORC Code explanation	Explanation
widths and intercept lengths	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	The orientation of the mineralised zone has been established and the RC drilling was planned in such a way as to intersect mineralisation in a perpendicular manner.
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	Not applicable in this document
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.	The accompanying document is considered to represent a balanced report.
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).	Promising results will be followed up (where practicable) with trenching and further RC or diamond drilling. Exploration and infill drilling will continue to target projected lateral and depth extensions of the mineralisation and to increase the confidence in the Mineral Resource.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Refer to main body of this report.

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