ASARA RESOURCES LIMITED — Investor Presentation 2012

Mar 20, 2012

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New Discoveries in West Africa

I nvestor resentat on P i March 2012

www.goldenrim.com.au

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Disclaimer & Competent Person Statement

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This presentation has been prepared by Golden Rim Resources Limited (ABN 39 006 710 774) (“Golden Rim”) based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Golden Rim, its related bodies corporate, its or their directors, employees or agents, advisers, nor any other person accepts any liability for any loss arising from the use of or reliance on this presentation or anything contained in, omitted from or otherwise arising in connection with it, including, without limitation, any liability arising from fault or negligence on the part of Golden Rim, its related bodies corporate or its or their directors, employees or agents.

The distribution of this document in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions.

This presentation is not an offer, invitation, solicitation or recommendation to invest in Golden Rim and neither this document nor anything in it shall form the basis of any contract or commitment. The information in this presentation does not take into account the investment objectives, financial situation and particular needs of investors and does not constitute investment, legal, tax or other advice. Before making an investment in Golden Rim an investor should consider whether such an investment is appropriate to their particular investment objectives, financial situation and particular needs and consult a financial adviser if necessary. This presentation does not purport to constitute all of the information that a potential investor may require in making an investment decision. Investments are subject to investment risk, including possible delays in repayment and loss of income or principal invested. Golden Rim does not guarantee the performance of the investment referred to in this presentation, the repayment of any capital invested or any particular rate of return.

Any securities described in this presentation may not be offered or sold in the United States absent registration under the US Securities Act 1933 or exemption from registration. Neither this document nor any copy thereof may be taken or transmitted in the United States or distributed, directly or indirectly, in the United States or to any US person including (1) any US resident, (2) any partnership or corporation or other entity organised or incorporated under the laws of the United States or any state thereof, (3) any trust of which any trustee is a US person, or (4) any agency or branch of a foreign entity located in the United States.

You acknowledge that circumstances may change and the contents of this presentation may become outdated as a result . Golden Rim accepts no obligation to correct or update the information or opinions in this presentation. Opinions expressed are subject to change without notice.

By accepting this document, you agree to be bound by the above limitations.

The information in this public report that relates to exploration results and mineral resources is based on information compiled by Mr Craig Mackay who is a member of The Australasian Institute of Mining and Metallurgy . Mr Mackay is an employee of Golden Rim Resources Ltd . Mr Mackay has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 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.

Certain statements in the presentation are or maybe “forward-looking statements” and represent Golden Rim’s intentions, projections, expectations or beliefs concerning among other thin g s , future ex p loration activities. The p ro j ections , estimates and beliefs contained in such forward lookin g statements necessaril y 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 presentation is a promise or representation as to the future. Statements or assumptions in this presentation 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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Executive Summary

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• >5,000km[2 ] licence holding in Burkina Faso and Mali

• 6 key gold and copper-gold projects

• Drill intercepts »»» resource definition stage

• An a gg ressive drillin g p ro g ram underwa y ( + 55,000m )

• Results continue to be positive (57m at 40.6 g/t gold)

• Share price and market capitalisation have already doubled this field season

• Now is the time to invest for the remainder of this field season’s results

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Corporate Snapshot (ASX:GMR)

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Share Price Performance

Capital Structure (as at 12 March 2012)

	Share Price Performance	Capital Structure (as at 12 March 2012)	Capital Structure (as at 12 March 2012)
		ASX Code GMR Share price A$0.23
		52 week low/high A$0.10 - A$0.28 Issued capital
	+650% increase in share price & +3,000% increase in market capitalisation since entry into West Africa	- Shares on issue 413.3m - Unlisted options 30.0m
	Major shareholders	Market capitalisation (undiluted) A$95m
	Institutional Investors 24%
	Royal Group 13% Board & Management 8%	C a	h (29 F b 2012) A$7 5 s e . . m bt - i l A$87 5
		De
		E
	Retail 55%	n	erprse vaue m .

Institutional Investors	24%
		C a
Royal Group	13%
		De
Board & Management	8%	Ent
Retail	55%

Board & Management Team

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� Rick Crabb , Chairman

� Resource sector lawyer with over 30 years experience; Current Chairman at Paladin Energy, Ashburton Minerals and Otto Energy. Councillor of WA Division of Australia Institute of Company Directors.

• Craig Mackay , Managing Director

• Geologist with over 23 yrs experience; previous positions with major resource companies, including Shell , Acacia Resources, AngloGold.

• Gilbert Rodgers , Executive Director

• Chartered Accountant and involved in the mining industry for more than 27 years; previously a director for a number ASX listed com p anies.

� Glenister Lamont , Non Executive Director

• Mining Engineer; previously General Manager of Ashton Mining and Executive Director at UBS AG

• .

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� Hayley Butcher , Company Secretary

• Chartered Secretary and governance professional. Experience with a number of ASX listed companies.

• Peter Olubas , Exploration Manager

Geologist with 22 years in exploration and mining. Previously worked for a number of major mining companies and has experience in SE Asia, PNG, Australia and Africa.

� Michel Bal, West African Operations Manager

• Geochemist; >30 yrs in the mining industry in West Africa. Involvement in gold, base metals, iron ore, semi-precious and precious stones, industrial minerals and tar-sand projects.

• Richard Zongo, C oun ry t M anager – B ur ki na aso F

• Geologist; 23 years of West African experience including 15 years at senior level with publicly listed Canadian and Australian exploration companies in Burkina Faso, Mali, Niger and Ghana.

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• Nadir Al Hammadi , Non Executive Director

• Director of PAL Technology Services, a member of th e oya R l G roup cong omera e an l t d GMR ma or j shareholder.

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Burkina Faso Projects

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Balogo Project (Burkina Faso)

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• Grass roots discovery

• IOCG -s y e copper go t l & ld m nera i li sa ti on

• 3 zones of mineralisation discovered to date:

• Netiana Lodes:

• 57m at 40.6 g/t gold Incl. 8m at 244.8 g/t gold

• o 5m at 32.6 g/t gold

• � Porphyry oL de:

  • 24m at 1.4 g/t gold, 0.9% copper (EOH)

• 12m at 1.2 g/t gold, 0.5% copper

• � Cobra Shear Zone:

  • 11m at 2.2 g/t gold, 2.8% copper Incl. 3m at 5.8 g/t gold and 8.2% copper

  • o . 6m at 10 0 g/t gold

Work Program

• 30,000m Phase 3 RC drilling underway

• Trenching

• Diamond drilling

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Balogo Hill Prospect at Balogo

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Yako Project (Burkina Faso)

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• Strategic location between Riverstone Resources and Cluff Gold

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• 6 major artisanal mining sites

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• Multiple zones of mineralisation open along strike and at depth

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• Better intercepts include:

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• 19m @ 4.08 g/t gold

• � 11m @ 8.7 g/t gold

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• 42m @ 1 6. g/t gold

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Work Program

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• Aeromagnetics

• 3,000m RC drilling underway

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• Systematic geochemistry

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Yako Project (Burkina Faso)

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Sebba Project (Burkina Faso)

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• Active artisanal workings

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• 3 major regional shear zones (over 140km )

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• First pass sampling complete

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• Extensive gold-in-soil anomalies with assays up to 14.5 g/t gold

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• High grade rock chips up to 78.5 g/t gold

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• Significant RAB intercepts up to 8m @ 2.43 g/t gold

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Work Program

• v er shear z ones

• Geochemical sampling o (assays pending)

• � 6,500m RAB/RC drilling

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Sebba Project (Burkina Faso)

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Mali Projects

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Sepola Project (Mali)

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• Inferred Resource: 3.8Mt at 1.5 g/t gold ( 181 , 000 oz )

Linnguekoto Prospect

• Artisanal mining in shafts

• High grade: rock chips up to 1,205 g/t gold

• Drill intercepts up to 18m @ 8.19 g/t gold

• Recent discovery of gold in broad quartz stock works hosted in greywacke

• Trench intercepts include:

• 16m @ 3.15 g/t gold

• 32m @ 2.24 g/t gold (25m true width)

• Potential for multiple, parallel zones of gold mineralisation

Work Program

• Further trenching

• 4,000m RC drilling (assays pending)

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Faraba Project (Mali)

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• 40km structural corridor with gold mineralisation

• GMR has major gold-in-soil anomalies .

• has over 8km (up to 12 6 g/t gold )

• Value of licence holding enhanced by recent progress of African Gold Group (TSXV : AGG) a t K o b a d a

• Kobada Preliminary Scoping � NPV $216.9M (after tax)

• IRR 90.57% (after tax)

• 20,000 tpd gravity plant

• � >120,000 oz/yr

• Kobada Feasibility by 28 June 2012

Work Program

• 9 , 000 m a rcore i d r illi ng un d erway

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Reasons to Invest

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• Major position in Burkina Faso and Mali

• Exposure to the fastest growing gold producing region in the world

• Golden Rim is not relying on a single project for success

• Experienced in-country teams enables “fast track” exploration

• Significant drilling program for 2011-2012 field season (strong news flow)

• Potential re-rating this field season based on resource drilling

• Golden Rim has an excellent cornerstone investor and partner in Royal Group (Abu Dhabi) which provides stability and new opportunities

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