GOLDEN DEEPS LIMITED. - Capital/Financing Update 2013

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ASX Announcement

3 April 2013

NE W ASS A Y RE S ULTS CONFIRM D E BLIN COPPER M INER A LISA T ION. D RILLI N G TO RE C OMM E NCE

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V iew looking n o rth-west from the hilltop at Deblin

HI G HLIGH T S

The results of the last five holes of the recent successful copper drilling program confirm the increasing potential at the Deblin Copper Mine, Otavi Mountain Land, Namibia
The new drilling results complement previously reported results and include:
DBRC000 5 3 m @ 1.37% Cu & 2.00 g/ t Ag from 67m Including 1 m @ 2.14% Cu & 3.20 g/ t Ag from 68m
Follow-up drilling to extend existing mineralisation and test additional along strike potential in strong copper in soil anomalies, gossans, and EM targets to commence in the coming weeks

Golden Deeps Limited ( A BN 12 054 570 777)

st 1 Floor, 8 Parliament Place, West Pe r th, WA 6005 � PO Box 1618, West P e rth, WA 6872 � t: +61 8 9481 7 8 33 � f: + 61 8 9481 78 3 5 � email: ged@golde n deeps.com

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1 RC DRI L LING AT DEBLIN

Gol d en Deeps is pleased to confirm t he final re s ults from t h e eight R C drillholes r ecently co m pleted at the Deblin C o pper Proje c t, located w ithin the Gr o otfontein B ase Metals Project in t h e Otavi M o untain Lan d of Namibi a . The aim of the program was to extend the copper min e ralisation i n tersected b y earlier drilling.

The program was successful, demo n strating th a t the copp e r mineralis a tion exists nearer to t h e surface t h an previou s ly identifie d and remains open to the south-east.

Thi s drilling pr o gram was completed at the en d of the 2012 field se a son following the exc e llent results achieved by a maid e n four hole drilling pro g ram comp l eted in October of 201 2 1. The Oc t ober progr a m intersected significant copper sulphides at Deblin, pa v ing the wa y for the anticipated dev e lopment o f JORC clas s ified miner a l resource s in 2013.

Best results from the October 2012 program included:

8m at 1.28% Cu from 87m, including 3m at 2.96% Cu from 87m in DBRC0001
� 7m at 3.23% Cu from 169m, including 3m at 6.08% Cu from 172m in DBRC0002 (see Figure 2 Cross Section)

To d ate, Golde n Deeps has drilled on l y 12 holes at Deblin a n d identifie d a significa n t body of c opper min e ralisation. The Comp a ny intends to expand on the z o nes of hig h -grade cop p er by follo w -up drilling .

The December 2012 drilling program intersected s ignificant c opper min e ralisation i n all but two holes. As s ays have n o w been re t urned for t h e five previously outst a nding hole s of the pro g ram.

Best results for the December 2012 program included;

DBRC0007 7 m @ 2.15% Cu & 1.50 g/t Ag from 71m Including 2 m @ 4.12% Cu & 3.00 g/t Ag from 74m
� DBRC0005 3 m @ 1.37% Cu & 2.00 g/t Ag from 67m Including 1 m @ 2.14% Cu & 3.20 g/t Ag from 68m

A c o mplete list of assay re s ults can be found in A p pendix 1.

A r e vised long section interpretation o f the Deblin mineralisation support s the interp r etation of an outcroppi n g south-east plunging c opper rich zone associated with t h e contact between Ab e nab Dolomites and A s kevold Vo l canics, re m aining unt e sted belo w 1300mR L . The min e ralisation a ppears to b e concent r ated and t h ickened w h ere major n orth-east t r ending cro s s structure s intersect t h e contact ( F igure 3).

Drilling has also identifi e d a folde d or thrust repeated c ontact po s ition with copper min e ralisation d eveloped o n several h o rizons (Fig u re 1). In addition to t h e potential down-dip e x tensions a n d repetitio n s, explorati o n vectors s uch as +1000ppm C u -in-soils a nomalies and new untested electroma g netic conductors de m onstrate th e potential f o r a signific a nt discove r y at Deblin.

1�Se e �ASX�announcement�08�N o vember�201 2 �Drilling�Intersects�High�Grade�Copper�

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Figure 1– Interpr e ted geologica l cross sectio n “CD” at 758515mE, looki n g west, show i ng recently c o mpleted drillholes DBRC00 0 7 and DBRC0008

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Figure 2– Interp r eted geologic a l cross sectio n “AB” at 7585 7 5mE, looking west, showing previous drilli n g and recent intersections f o r drillholes D B RC0005 and D BRC0006

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Figure 3– Deblin Interpreted lo n g section look i ng north sho w ing recently c o mpleted and n ewly planned d rillhole pierce poin t s

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Figure 4– Geological map and c o llar plan sho w ing planned a n d completed d rillhole collars , and the cros s section locati o ns from figur e s 1 and 2

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2 DRILLI N G TO RE C OMME N CE AT D E BLIN

Drilling is set t o recommence at the D e blin Copp e r Mine. Th e drilling is c omprised o f three co m ponents, resource defi n ition, geoc h emical anomaly testin g and EM a n omaly testi n g.

2.1 Resource Definition Drilling

Se v eral new drillholes are planned to i mprove co n fidence in t he geologi c al continuit y of the cop p er mineralisation. The additional d ata will all o w for the e s timation of a JORC compliant res o urce at De b lin and ext e nd the min e ralisation d own plung e to the eas t . The prog r am will co m prise 9 hol e s for 1,670m of RC dri l ling. Figur e 3 shows t h e planned p ierce points of six of t h e holes. A further th r ee holes w i ll be drilled outside of the plane o f the long s ection, beneath the co p per gossa n shown in F igure 4 and Figure 5.

At l e ast one h o le will be completed w ith a diam o nd tail. The diamond d rilling will provide imp o rtant struc t ural inform a tion, give a better vis u al appreciation of the m ineralisati o n, and pro v ide materi a l for metall u rgical and m ineralogic a l test work.

2.2 Geochemical Anomaly Drilling

Tw o very high a mplitude ( + 1000ppm C u) geoche m ical anom a lies are lo c ated directl y along stri k e to the w e st of the D e blin Depo s it. “Anomaly 1” is app r oximately 1 km west o f Deblin and “Anomaly 2 ” is approximately 1.8k m west of Deblin. Both anomalies w arrant drill testing as t hey are si m ilar in size and ampli t ude to the Deblin cop p er gossan anomaly, w hich is beli e ved to be the surface e xpression o f the Debli n Copper mineralisation (Figure 5).

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Tw o top to tail R C holes wi l l be drilled a t each anomaly for a t o tal of 360 m .
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Figure 5– Geolo g ical map sho w ing high ampli t ude geochemical anomalies, FLTEM mode l s and planne d drilling
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2.3 FLTEM Drilling

A r e cent FLT E M survey d etected se v eral stron g conducto r s. The C o mpany int e nds to drill test each c onductor f o r the pres e nce of cop p er mineralisation.

Fo u r holes for 540m are p roposed t o test the t h ree separ a te conduc t ive source s , DB1, DB 2 and DB3 ( Figure 5).

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For further information please contact:

Vin c ent Algar, C hief Opera t ing Officer Or L uke Marsh a ll, General Manager E x ploration Or consult our website:

Phone (08 ) 9481 783 3

www.golde n deeps.co m

Competent Person Declaration

The information in t his report that relates to Ex p loration Resul t s, Mineral Re s ources or Ore Reserves is b ased on infor m ation compile d by Luke Mars h all, who is a m ember of The A ustralasian Institute of Geosc i entists. Mr Ma r shall has suffi c ient experienc e that is releva n t to the style o f mineralisation and type of d eposit under c onsideration a n d to the activ i ty that he is un d ertaking to qu a lify as a Com p etent Person a s defined in the 2004 Edition o f the “Australasian Code for Reporting of Ex p loration Result s , Mineral Res o urce and Ore R eserves”. Mr M arshall conse n ts to the inclusion in the repo r t of the matter s based on his i n formation in th e form and con t ext in which it a ppears.

Forward-Looking Statements This document ma y include forw a rd-looking stat e ments. Forward-looking stat e ments include, but are not limited to, statements concerning Golden D e eps Limited’s planned explo r ation program m e and other s tatements th a t are not histo r ical facts. Wh e n used in this document, th e words such a s "could," "plan," "estimate," " e xpect," "inten d ," "may”, "pot e ntial," "should, " and similar e x pressions are f orward-looking statements. Although Golden Deeps Limite d believes that i ts expectation s reflected in t h ese forward-lo o king stateme n ts are reason a ble, such stat e ments involve risks and uncertainties and n o assurance ca n be given that a ctual results w i ll be consistent with these for w ard-looking st a tements.

ABOUT GOLDEN DEEPS LIMITED

Gol d en Deeps L imited is an ASX listed c ompany (A S X:GED) foc u sed on the exploration f or gold and base metal s . The Com p any has pr oj ects in the R epublic of N amibia, W e stern Austr a lia and Vict o ria.

The Company’ s current fo c us is its 1, 1 00km[2] Gro o tfontein Ba s e Metal Pr o ject locate d in the Ota v i Mountain Land (OM L ) of Northern Namibia, an area r o ughly bou n ded by a t riangle linking the tow n s of Tsumeb, Grootf o ntein and O tavi. The region hos t s several g lobally sig n ificant cop p er, zinc, lead, silver and vanadium mines, i n cluding th e Tsumeb, Khusib Springs, Abenab, Berg Aukas & Kombat mines.

The region is w ell served b y sealed r o ads, rail t o port, high voltage po w er, teleph o ne and wat e r, and is c lose to major towns a n d mining p rocessing f a cilities, in c luding the K ombat cop p er concen t rator and T sumeb Sm e lter compl e x (one of o nly five op e rating sm e lters in Afri c a).

The Grootfonte i n Project h as a num b er of signi f icant prosp e cts near h istorical pr o duction cen t res located on its licenc e package. T hese prospects include the Askevold Copper tr e nd, the Abenab/Christiana Zinc-Vanadium Lead trend and t h e Khusib S p rings Copp e r prospect.

The Company i s actively e x ploring its P roject area w ith a view to an early d efinition of mineral res o urces.

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Figure 9 – The G rootfontein B a se Metal Proj e ct, Otavi Mountain Land, N a mibia
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APPENDIX 1 – DEBLIN RC DRILLING RESULTS

Hol	e ID	Depth	CollarLocationWG	CollarLocationWG	S84Z33	Dip	Azimuth	Fr	o m m	To m	u Grade %	Width m	IntersectionDe
			East	North	RL
DBR	C 0001	169	7 58576	7814738	1508	�55	0	7	5	76	0 .59	1	1 [email protected]%Cu,0.5 0g/tAg
								8	7	95	1.28	8	8 [email protected]%Cu,2.0 0g/tAg
							incl	8	7	90	2.96	3	3 [email protected]%Cu,4.8 3g/tAg
DBR	C 0002	204	7 58580	7814687	1505	�55	0	1	6 9	176	3.23	7	7 [email protected]%Cu,7.9 3g/tAg
							incl	1	7 2	175	6.08	3	3 [email protected]%Cu,17 .67g/tAg
DBR	C 0003	200	7 58467	7814708	1506	�55	0	1	0	13	0 .22	3	3 [email protected]%Cu,0.5 0g/tAg
								1	5 9	160	0 .01	1	1 [email protected]%Cu,11. 00g/tAg
DBR	C 0004	204	7 58337	7814975	1512	�55	0		4	10	0.7	6	6 [email protected]%Cu,3.2 5g/tAg
							incl		5	6	1.38	1	1 [email protected]%Cu,6.0 0g/tAg
								1	3	14	0 .39	1	1 [email protected]%Cu,2.0 0g/tAg
								5	8	59	0 .33	1	1 [email protected]%Cu,1.0 0g/tAg
								8	1	82	0 .44	1	1 [email protected]%Cu,3.0 0g/tAg
DBRC	0 005	120	758584	7814787	1515.78	�55	0	5	3	57	0 .84	4	4 [email protected]%Cu,2.2 5g/tAg
							incl	5	4	55	1.65	1	1 [email protected]%Cu,3.7 0g/tAg
								6	7	70	1.37	3	3 [email protected]%Cu,2.0 0g/tAg
							incl	6	8	69	2.14	1	1 [email protected]%Cu,3.2 0g/tAg
DBRC	0 006	80	758556	7814867	1521.367	�55	0	1	8	20	0 .95	2	2 [email protected]%Cu,2.3 0g/tAg
DBRC	0 007	135	758515	7814744	1505.872	�55	0	1	3	16	0 .31	3	3 [email protected]%Cu,0.0 0g/tAg
								3	0	35	0 .38	5	5 [email protected]%Cu,0.0 0g/tAg
								7	2	79	2.15	7	7 [email protected]%Cu,1.5 0g/tAg
							incl	7	4	76	4 .12	2	2 [email protected]%Cu,3.0 0g/tAg
								9	4	96	0 .53	2	2 [email protected]%Cu,0.0 0g/tAg
DBRC	0 008	80	758534	7814848	1520.15	�55	0	3	5	37	0 .52	2	2 [email protected]%Cu,1.2 0g/tAg
DBRC	0 009	131	758467	7814783	1507.375	�55	0	1	6	17	0.4	1	1 [email protected]%Cu,0.0 0g/tAg
								2	6	29	0 .26	3	3 [email protected]%Cu,0.5 0g/tAg
DBRC	0 010	80	758497	7814877	1519.281	�55	0	2	6	27	0 .13	1	1 [email protected]%Cu,1.0 0g/tAg
DBRC	0 011	100	758405	7814830	1508.388	�55	0	3	8	39	0 .16	1	1 [email protected]%Cu,0.0 0g/tAg
DBRC	0 012	60	758416	7814925	1516.039	�55	0	1	5	16	0 .07	1	1 [email protected]%Cu,0.2 0g/tAg

AI assistant

GOLDEN DEEPS LIMITED. Capital/Financing Update 2013

64977_rns_2013-04-02_e2976b2c-2bae-4ebb-9786-bcc4d706ba5b.pdf

ASX Announcement

3 April 2013

NE W ASS A Y RE S ULTS CONFIRM D E BLIN COPPER M INER A LISA T ION. D RILLI N G TO RE C OMM E NCE

HI G HLIGH T S

1 RC DRI L LING AT DEBLIN

Best results from the October 2012 program included:

Best results for the December 2012 program included;

2 DRILLI N G TO RE C OMME N CE AT D E BLIN

2.1 Resource Definition Drilling

2.2 Geochemical Anomaly Drilling

2.3 FLTEM Drilling

For further information please contact:

Competent Person Declaration

ABOUT GOLDEN DEEPS LIMITED

APPENDIX 1 – DEBLIN RC DRILLING RESULTS

AI assistant

GOLDEN DEEPS LIMITED. — Capital/Financing Update 2013

64977_rns_2013-04-02_e2976b2c-2bae-4ebb-9786-bcc4d706ba5b.pdf

ASX Announcement

3 April 2013

NE W ASS A Y RE S ULTS CONFIRM D E BLIN COPPER M INER A LISA T ION. D RILLI N G TO RE C OMM E NCE

HI G HLIGH T S

1 RC DRI L LING AT DEBLIN

Best results from the October 2012 program included:

Best results for the December 2012 program included;

2 DRILLI N G TO RE C OMME N CE AT D E BLIN

2.1 Resource Definition Drilling

2.2 Geochemical Anomaly Drilling

2.3 FLTEM Drilling

For further information please contact:

Competent Person Declaration

ABOUT GOLDEN DEEPS LIMITED

APPENDIX 1 – DEBLIN RC DRILLING RESULTS

More from GOLDEN DEEPS LIMITED.

GOLDEN DEEPS LIMITED. Capital/Financing Update 2013