Golden Rim raises up to $6.3 million to advance Kada Gold Project


Golden Rim Resources Ltd (ASX: GMR, Golden Rim or Company) is pleased to announce that it has received commitments to raise $5,300,000before costs, via a Share Placement (Placement) to advance its flagship Kada by Guinea, West Africa and for working capital.

Golden Rim will issue 67,948,718 shares to $0.078 per share to raise $5,300,000 under the Placement, with 33,003,032 shares issued under Listing Rule 7.1 and an additional 24,485,356 shares within its 10% placement capacity under Listing Rule 7.1A (Tranche 1) .

It plans to issue the remaining 10,460,330 shares under the Placement in a second tranche subject to Shareholder approval (Tranche 2). Participants in the Placement will receive options to purchase Shares, on a one (1) for three (3) basis with an exercise price of $0.12 per Share and expiring 24 months from the date of issue (Options). The issuance of options will be subject to shareholder approval.


Craig MacKay

Tel: +61 3 8677 0829

Email: [email protected]

Forward-looking statements

Certain statements contained herein are or may be “forward-looking statements” and represent Golden Rim’s intentions, projections, expectations or beliefs regarding, among other things, future exploration activities. The projections, estimates and beliefs contained in these forward-looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond Golden Rim’s control, and which could cause Golden Rim’s actual performance to differ materially. in future periods. any express or implied estimate or projection. Nothing in this document is a promise or representation as to the future. Any statements or assumptions contained herein regarding future matters may prove to be incorrect and the differences may be material. Golden Rim makes no representations or warranties as to the accuracy of any such statements or assumptions.


Golden Rim Resources Limited is an ASX-listed exploration company with a portfolio of advanced mineral projects in Guinea and Burkina Faso, West Africa and in Chile, South America. The Company’s flagship project is the advance Kada Gold Project in the East Guinea. Guinea remains one of the least explored countries in the West Africa. Golden Rim has defined an initial Inferred Mineral Resource of 25.5 Mt at 1.1 g/t gold at 930 Koz1, the majority of which is shallow oxide transition gold mineralization. Golden Rim focuses on growing mineral resources. Most of the 200 km2 project area remains unexplored and there is considerable upside for the discovery of additional gold oxide mineralization. The Company has discovered and delineated an indicated and inferred mineral resource of 50 Mt at 1.3 g/t gold for 2 Moz2 at Kouri Gold Projectlocated in the northeast Burkina Faso. Kouri covers 325 km2 of very promising Birimian greenstone. Recent exploration has successfully located several high-grade auriferous shoots. In the north ChileGolden Rim has the Paguanta Copper and Silver-Lead-Zinc Project. Historically a silver mine, the Company has delineated a measured, indicated and inferred mineral resource of 2.4 Mt at 88 g/t silver, 5.0% zinc and 1.4% lead for 6.8 Moz of silver, 265 Mlb of zinc and 74 Mlb of lead3 at Prospect Patricia. The mineral resource remains open. In addition, the project has several outstanding porphyry-copper targets, such as Loreto, which have yet to be tested.


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