1 November 2007 MINCOR /GOLDEN RIM FIJI JOINT VENTURE SIGNIFICANT NEW EXPLORATION RESULTS Highlights Very high gold-in-soil sample results up to 17.3 g/t gold have been received from the Banana Creek Prospect. Follow-up of this high grade sample uncovered a significant new epithermal quartz and base metal sulphide vein. High stream sediment sample gold results were obtained from the Banana Creek Prospect, with assays up to 0.37 g/t gold. The only other stream sediment sample results at this level in the region come from creeks directly draining the 450,000 ounce Tuvatu gold resource area. A drill intercept of 8.7 m @ 0.6 g/t gold was received from Tuvatu North Prospect. The intercept coincides with a previously identified Induced Polarisation anomaly. A promising new prospect area ( Southern Prospect) was outlined with gold anomalous stream sediment samples and rock chip results of 4.94 g/t gold and 2.35 g/t gold. A high grade rock chip sample of 8.7 g/t gold was collected from Korovadi Creek to the south of the Central Ridge Prospect. A major mapping and sampling programme has commenced to target promising areas. Recent Work The Directors of Golden Rim Resources Ltd ( Golden Rim ) are pleased to announce new significant exploration results from the Sabeto Gold Project in Fiji. The Sabeto Project is a joint venture between Golden Rim (75%) and Mincor Resources NL (25%). Golden Rim Resources Ltd ABN 39 006 710 774 Level 2, 10 Outram Street, West Perth, WA 6005, Australia Telephone: 61 8 9481 5758 Facsimile: 61 8 9481 5759 Email: info@goldenrim.com.au Website: www.goldenrim.com.au
Since the release of our Quarterly Report for the period ending 30 th September 2007, several large batches of outstanding assay results (drill core, rock chip, stream sediment and soil samples) were received. Golden Rim has embarked on a major regional mapping, stream sediment and soil sampling program which will continue until the entire Navilawa Caldera has been systemically covered. The majority of the Caldera area has not previously been sufficiently sampled or mapped. Banana Creek Prospect Assay results for a total of 394 soil samples were received. The best result of 17.3 g/t Au and 4.6 g/t Ag was obtained from the Banana Creek area (Figure 1). Field checking of this area located a 30 cm wide quartz limonite base metal sulphide vein occurring along a contact between massive monzonite and monzonitic dykes. Additional rock channel samples have been collected from this structure but have yet to be analysed. Out of a total of 74 stream sediment samples, 9 samples assayed greater than 0.1 g/t gold were received. Coincident areas of anomalous soil and stream samples further highlighted several prospect areas (such as Banana Creek and Central Ridge). High stream sediment sample gold assays were obtained at the Banana Creek Prospect, with results up to 0.37 g/t gold (Figure 1). The only other stream sediment sample results at this level in the region come from creeks directly draining the 450,000 ounce Tuvatu gold resource. As announced in the recent quarterly report, the known strike extent of the Banana Creek gold-bearing epithermal vein system has recently been doubled to 800 m, with new vein structures grading up to 2.63 g/t gold, 0.3 % copper and 1.2 % zinc, discovered 500 m away from previously known mineralisation. This veining remains open along strike. The major vein structures at Banana Creek have now become a priority target for drilling in early 2008. Previous surface sampling of the vein structures has returned high grade results such as 2 m @ 18.9 g/t gold; 4 m @ 4.42 g/t gold; and 0.15 m @ 46.3 g/t gold, 14.4 g/t silver. Limited previous drilling has produced an intercept of 0.4 m @ 23.4 g/t gold, 6.3 g/t silver. Tuvatu North Prospect Drill hole TNDH 003 at Tuvatu North was designed to test a strong CRAE Induced Polarization (IP) chargeability anomaly which strikes north from the Tuvatu gold deposit (Figure 2). This hole intersected a zone of shearing with associated disseminated pyrite and carbonate veins from 106.5 m to 115.2 m. Assay results include 8.7 m @ 0.6 g/t gold (including 1.9 m @ 1.1 g/t gold from 107 m and 1.2 m @ 1.1 g/t gold from 114 m). This zone of shearing was also anomalous in arsenic (8.7 m @ 1759 ppm), copper (8.7 m @ 473 ppm) and sulphur (8.7 m @ 3.98 %). The width of the mineralised zone is interesting as mineralisation in the region is generally narrower (1 2 m). Gold grades in epithermal veins in the region are known to vary considerably within short distances and can change from 0.5 g/t gold to greater than 50 g/t gold within a metre of strike along the vein structure. Page 2 of 5
The full width of the IP chargeability anomaly has not yet been tested. The anomaly continues for at least another 200 m to the east beyond the end of hole TNDH 003. No holes have been drilled to the east of TNDH 003. In addition, preliminary mapping has located an outcropping northeast-trending zone of sheared monzonite with copper-staining approximately 160 m east of the end of hole TNDH 003. Approximately 500 m along strike to the southwest this same zone outcrops at the Tuvatu Adit portal. Strike measurements of 020 degrees (magnetic) have been recorded on this veining near the portal. Further drilling will be required at Tuvatu North to test the extent and significance of this mineralisation. New Prospect Areas The new soil sample results have outlined two new prospect areas at Nasiti Ridge and Nasiti Ridge North (Figure 1). As reported in the recent quarterly report soil sample results up to 2.42 g/t, 0.99 g/t gold and 0.65 g/t gold were recently received from Nasiti Ridge. Limited rock chip sampling previously conducted by Golden Rim at Nasiti Ridge returned results up to 9.3 g/t gold, 14.4 g/t silver and 4.25 % copper. Stream samples have identified three new areas to the south of Korovadi Creek ( Southern Prospect ) which returned samples between 0.11 to 0.17 g/t gold (Figure 1). Significant rock chip results of 4.94 g/t gold and 2.35 g/t gold where also obtained from samples collected by the stream sediment sampling crew from the Southern Prospect. The prospect area lies midway between the Banana Creek Prospect and the Tuvatu gold deposit. A rock chip sample of 8.7 g/t gold was also collected by the stream sediment sampling crews from Korovadi Creek to the south of the Central Ridge Prospect. Follow-up mapping and sampling over these new prospect areas is underway. Equity Raising In accordance with the announcement made in Golden Rim s September 2007 Quarterly Report, the board of Golden Rim is pleased to announce that discussions are underway with a leading Australian Broking Firm to underwrite the next equity raising. Further details of the fundraising will be announced to the market in the next 2 weeks. Page 3 of 5
Should you require any further information, please do not hesitate to contact Golden Rim. Yours faithfully GOLDEN RIM RESOURCES LTD CRAIG MACKAY Managing Director The information in this report, insofar as it relates to exploration results, is based on information compiled by Mr Craig Mackay. Mr Mackay is a member of the Australasian Institute of Mining and Metallurgy and 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 consults to the Company. This report accurately reflects the information compiled by Mr Mackay and 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. Golden Rim Resources Ltd ABN 39 006 710 774 Level 2, 10 Outram Street, West Perth, WA 6005, Australia Telephone: 61 8 9481 5758 Facsimile: 61 8 9481 5759 Email: info@goldenrim.com.au Website: www.goldenrim.com.au ASX Code : GMR Issued Shares : 73,734,859 Unlisted Options : 21,000,000 Directors : Mr Rick Crabb Chairman Mr Craig Mackay Managing Director Mr Gilbert Rodgers Executive Dir/Company Sec Mr Glenister Lamont Non-executive Director Page 4 of 5
Golden Rim soil sampling at Banana Creek Prospect in Fiji Golden Rim stream sediment sampling at Banana Creek Prospect in Fiji Page 5 of 5
Qaliyalo Creek Golden Ridge 1876000mE 1878000mE 1880000mE SABETO Blasting Rock RIVER Nasala Creek Central Ridge 8.67 Nasiti Ridge North 0.12 0.11 Nasiti Ridge 2.4 Oba Ck Banana Creek 0.12 17.3 0.2 0.11 0.22 0.37 Creek 0.18 2.63 Nagaga Creek Gold (ppm) 3922000mN New stream sediment samples >0.2 0.1 to 0.2 0.05 to 0.1 0.025 to 0.05 <0.025 New soil samples >1 0.5 to 1 0.1 to 0.5 0.05 to 0.1 <0.05 New rock chip samples Ck 5.46 Tuvatu North Tuvatu Resource Area 450,000oz @ 8.5g/t gold 4.94 2.35 Southern 0.11 SPL 1412 3922000mN Golden Rim Resources Limited Sabeto Gold Project (Fiji) Gold geochemical anomalies prospects 0 500m
Golden Rim Resources Limited TNDH003 TNDH002 200m RL 0.2m @ 0.41% Cu 2.2m @ 0.34% Cu TNDH001 0.8m @ 0.31 g/t Au, 0.2% Cu TNDH004 0.4m @ 0.41 g/t Au Tuvatu Adit Portal 430m south TNDH002 (250.5m) 8.7m @ 0.6 g/t Au CRAE IP Changeability Anomaly TNDH003 (241.9m) 0m RL TNDH004 (229.5m) Shears Vein sets Monzonite TNDH001 (226.5m) Sabeto Gold Project (Fiji) Section 8042300N Tuvatu North 0 50m Figure 2