ASX/Media Announcement 24 May 2013 New Zone of High Grade Gold Mineralisation Discovered at Balogo, Burkina Faso A new zone of high grade gold mineralisation has been discovered 1km NE along strike from the Netiana Lodes. The mineralisation lies in bedrock beneath 2m of transported soil cover. All rock chip samples collected by Golden Rim were anomalous with the best results being: 21.2 g/t gold, 20.7 g/t gold, 17.6 g/t gold, 14.7 g/t gold, 13.5 g/t gold and 12.8 g/t gold. The gold mineralisation is similar in appearance to the high grade gold mineralisation in the oxide portion of the Netiana Lodes. In addition, a significant new gold anomaly, with a peak value of 435 ppb gold, has been outlined in auger drilling 300m NE along strike from the Netiana Lodes. The new auger gold anomaly is very similar to the auger gold anomaly that overlies the Netiana Lodes. Further auger drilling is planned for both areas followed by RC drilling. Golden Rim Resources Ltd (Golden Rim; ASX: GMR) today announced that it has discovered a new zone of high grade gold mineralisation in bedrock and a significant gold anomaly in auger drilling along strike from the Netiana Lodes at the Balogo Project in Burkina Faso. Golden Rim s Managing Director, Craig Mackay, said We are currently exploring for satellite, open pittable, gold resources to add to our existing gold resource on the Netiana Lodes with the objective of increasing the mine life and enhancing the economics of our planned mine development at Balogo. This new near surface mineralisation is the first zone of Netiana-style high grade gold mineralisation that has been located away from the Netiana Lodes and the new auger gold anomaly is very similar to the auger gold anomaly directly above the Netiana Lodes. Both areas are directly along strike from the Netiana Lodes and present exciting new exploration targets for satellite gold mineralisation, Mr Mackay said. High Grade Gold Mineralisation The new zone of mineralisation lies 1km NE along strike from the Netiana Lodes, where Golden Rim has outlined an Inferred Resource of 850,000 tonnes at 6.8 g/t gold for 185,000 ounces (Figure 1). The mineralisation is open in all directions and lies beneath 2m of transported soil cover. It was located in the last few weeks by local artisanal miners. 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
Golden Rim collected 14 rock chip samples of mineralisation exposed in the artisanal workings. These samples were submitted to BIGS Laboratory in Ouagadougou, Burkina Faso, for gold analysis. All rock chip samples returned anomalous gold results (Table 1). Six samples returned assays greater than 10 g/t gold. These results include: 21.2 g/t gold, 20.7 g/t gold, 17.6 g/t gold, 14.7 g/t gold, 13.5 g/t gold and 12.8 g/t gold. The new zone of gold mineralisation consists of multiple and strongly limonitic quartz sulphide veins hosted in diorite, which are very similar in appearance to the high grade gold mineralisation in the oxide portion of the Netiana Lodes. Auger Drilling Golden Rim s initial geochemical sampling at the Balogo Project consisted largely of surface soil sampling on a 100m x 50m grid. Since the discovery of the high grade gold mineralisation at the Netiana Lodes, beneath 2m of transported black soil cover, it has been found that this surface soil sampling had largely been ineffective in parts of the project area. Golden Rim is presently conducting an auger drilling program, on a 100m x 25m grid with holes to 3-4m depth, to test these areas with shallow transported soil cover. To date, approximately 398 auger holes have been completed. Initially, the auger drilling was completed over the Netiana Lodes. The holes outlined a 300m x 120m gold anomaly of >100 ppb gold. The peak value in the anomaly is 581 ppb gold. This important information regarding the size and magnitude of the auger gold anomaly, which covers the Netiana deposit, is now being used by Golden Rim to potentially locate additional satellite gold deposits in the area. A significant new auger gold anomaly has been outlined 300m NE along strike from the Netiana Lodes (Figure 1). This new anomaly is >100 ppb gold, covers an area of 200m x 120m and is open to the NE. The peak assay value is 435 ppb gold. The new anomaly is very similar in magnitude to the anomaly at Netiana. New Geological Interpretation Aeromagnetic and gravity images, and new auger geochemical data have been re-interpreted and Golden Rim now believes there is at least two parallel NE trending mineralised structures at Balogo (Figure 2). These are a western structure that hosts high grade gold with quartz-sulphide veining (Netiana Lodes, the new auger soil anomaly and the new mineralised zone) and an eastern structure that hosts copper, gold and magnetite (Porphyry Lodes and the Cobra Lode). A 3D geophysical model is currently being developed for Balogo. The model is intended to assist in targeting additional, deeper structures that have potential to host gold and copper mineralisation. Future Plans No auger drilling has been conducted in the area covering the new zone of mineralisation. Golden Rim will commence an auger drilling program on a 100m x 25m grid over this area within the next few days. Auger drilling around the new auger soil anomaly will be extended to the NE. A follow-up RC drilling program is then anticipated to be conducted. Page 2 -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 Page 3
Figure 1. Location of the new zone of high grade gold mineralisation and the new auger gold anomaly at Balogo.
Table 1. New Balogo rock chip results Sample Number Easting (m) Northing (m) Gold Intersection (g/t) Comment 137401 664723 1261088 2.65 Silicified microdiorite with quartz veining 137402 664719 1261078 0.53 Oxidised diorite with quartz veining 137403 664709 1261070 13.4 Oxidised diorite 137404 664703 1261065 0.31 Oxidised diorite with quartz veinlets 137405 664696 1261059 4.21 Sheared microdiorite 137406 664694 1261063 12.8 Oxidised diorite with quartz veinlets 137407 664694 1261063 21.2 Oxidised diorite with quartz veinlets 137408 664694 1261061 3.02 Oxidised diorite 137409 664688 1261055 17.6 Hematised quartz vein with oxidised sulphides 137410 664671 1261042 0.31 Oxidised diorite with quartz veinlets 137411 664665 1261037 3.51 Oxidised diorite with quartz veinlets 137412 664665 1261037 2.15 Oxidised diorite with quartz veinlets 137413 664655 1261024 14.7 Hematised quartz veining with oxidised sulphides 137414 664655 1261024 20.7 Hematised quartz veining with oxidised sulphides 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 Further Company Information E: info@goldenrim.com.au W:goldenrim.com.au Capital Structure Issued Shares: 568,006,923 Unlisted Options: 33,950,000 Major Shareholders Royal Group, Abu Dhabi 9.59% Acorn Capital 6.56% Rick Crabb 5.6% 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 Page 5