ASARA RESOURCES LIMITED — Major Shareholding Notification 2012

Feb 15, 2012

ASX/Media Announcement

16 February 2012

Notice of Ceasing to be a Substantial Holder

Golden Rim Resources Ltd ( Company , ASX: GMR) lodges, on behalf of Mr Rick Crabb, a Notice of Ceasing to be a Substantial Holder.

Mr Crabb and his associates have not disposed of any shares. However, Mr Crabb’s shareholding has dropped below 5% of the Company’s issued share capital as a consequence of the recent new share issues.

-ENDS-

For further information, please contact:

Hayley Butcher Anna Staples Golden Rim Resources AMN Corporate Company Secretary +61 400 205 433 +61 8 9481 5758 anna@amncorporate.com

Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 10 Outram Street, West Perth WA 6005, Australia I PO Box 378, West Perth WA 6872, Australia www.goldenrim.com.au I info@goldenrim.com.au I T + 61 8 9481 5758 I F + 61 8 9481 5759

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About Golden Rim Resources Limited

Golden Rim Resources Ltd (ASX: GMR) is an exploration and mining company with a focus on copper and gold. The Company is active in West Africa, with gold resources and permits covering around 5,000km[2] in the highly prospective Birimian greenstone belts of Mali and Burkina Faso.

With experienced management and extensive local teams in the Company’s permanent offices in Mali and Burkina Faso, Golden Rim is able to move quickly and efficiently in order to maximise potential opportunities.

Golden Rim is pursuing an active program of drilling in Burkina Faso and Mali and is poised to deliver significant growth and value to shareholders.

Further Company Information

E: info@goldenrim.com.au W:goldenrim.com.au

Capital Structure

Issued Shares: 413,306,231 Unlisted Options: 29,950,000

Major Shareholders

Royal Group, Abu Dhabi 13.18% Acorn Capital 7.03%

Share Registry

Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153 AUSTRALIA T: + 61 8 9315 2333 F: + 61 8 9315 2233 E: registrar@securitytransfer.com.au W: securitytransfer.com.au

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Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Golden Rim Resources Ltd ACN 006 710 774 1. Details of substantial holder(1) Name Rick Wayne Crabb ACN/ARSN NA The holder ceased to be a substantial shareholder on 15/2/2012 The previous notice was given to the company on 9/11/10 The previous notice was dated 9/11/10

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change(6)	Consideration given in relation to change(7)	Class and number of securities affected	Person’s votes affected
15/02/2012	Rick Wayne Crabb	As a result of the Company issuing new shares voting power has nowdecreased	N/A	4,103,996 Ordinary Shares	4,103,996
15/02/2012	Westessa Py Ltd	As a result of the Company issuing new shares voting power has nowdecreased	N/A	14,004,605 Ordinary Shares	14,004,605
15/02/2012	RW & CJ Crabb Trust>	As a result of the Company issuing new shares voting power has nowdecreased	N/A	2,426,607 Ordinary Shares	2,426,607

3. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting

interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
NA

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Rick Wayne Crabb	PO Box 108 SUBIACO
Westessa Pty Ltd	PO Box 108 SUBIACO
RW & CJ Crabb	PO Box 108 SUBIACO

Signature

Print name RICK WAYNE CRABB capacity DIRECTOR Sign here date / /

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001. (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. (4) The voting shares of a company constitute one class unless divided into separate classes. (5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.