ASARA RESOURCES LIMITED — Share Issue/Capital Change 2021

Jan 11, 2021

12 January 2021

ISSUE OF CLEANSING NOTICE UNDER SECTION 708A CORPORATIONS ACT

Golden Rim Resources Ltd (ASX: GMR, Golden Rim or Company ) today issued 317,203,744 fully paid ordinary shares in the capital of the Company to acquire a 25% interest in the Kada Gold Project in Guinea, at $0.01015 per share.

The shares are part of a class of securities quoted on the ASX. The shares were issued without disclosure to the investor under Part 6D.2, in reliance on section 708A(5) of the Corporations Act 2001 (Cth) ( Corporations Act ).

As required by section 708A(5) of the Corporations Act, the Company advises:

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

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

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

4. as at the date of this notice there is no information that is ‘excluded information’ (within the meaning of sections 708A(7) and 708A(8) of the Corporations Act) to be disclosed under section 708A(6)(e) of the Corporations Act.

-ENDS-

Contact Information:

Golden Rim Resources Ltd

ABN 39 006 710 774

Craig Mackay Managing Director

+61 3 8677 0829 craig@goldenrim.com.au

This announcement was authorised for release by the Company Secretary of Golden Rim Resources Ltd.

GOLDEN RIM RESOURCES ASX:GMR Level 23, Collins Square Tower Five, 727 Collins Street, Melbourne, VIC, 3008 T + 61 3 8677 0829 | E info@goldenrim.com.au | goldenrim.com.au

12 January 2021

ABOUT GOLDEN RIM RESOURCES

Golden Rim Resources Limited is an ASX listed exploration company with a portfolio of advanced minerals projects in Burkina Faso and Guinea, West Africa and in Chile, South America.

The Company discovered and has outlined a 2Moz Mineral Resource at the Kouri Gold Project, located in north-east Burkina Faso. Kouri is currently Golden Rim’s flagship project and it covers 325km2 of highly prospective Birimian greenstones. As exploration progresses, significant additional gold mineralisation, including a high-grade gold shoot, has been discovered and the gold inventory at Kouri is expected to grow.

The Company recently announced an agreement to acquire the Kada Gold Project in eastern Guinea. Guinea remains one of the most under-explored countries in West Africa. Kada was previously explored by Newmont who completed 34km of drilling and defined a non-JORC gold resource. With infill drilling Golden Rim believes a maiden JORC Mineral Resource can be defined at Kada in the nearterm.

In northern Chile, Golden Rim has the Paguanta Silver-Lead-Zinc-Copper Project. Historically a silver mine, the Company has outlined a Mineral Resource comprising 6.8Moz silver, 74Mlb lead and 265Mlb zinc at Paguanta. The Mineral Resource remains open. In addition, the project has several exceptional porphyry-copper targets that remain untested. With Golden Rim’s focus on gold in West Africa, the Company is seeking to divest the project.

ASX:GMR

Market Capitalisation: A$21 million Shares on Issue: 2,109 million

T + 61 3 8677 0829 | E info@goldenrim.com.au | goldenrim.com.au

Competent Persons Statement

The information in this report relating to Mineral Resource at Kouri and Paguanta are extracted from the announcements: Heads of Agreement to acquire the Kada Gold Project in Guinea dated 27 July 2020; Kouri Mineral Resource Increases by 43% Increase to 2 Million ounces Gold dated 26 October 2020; and 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 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.

GOLDEN RIM RESOURCES ASX:GMR 2