West African gold explorer Golden Rim Resources Ltd (ASX: GMR; Golden Rim or Company) is pleased to announce it has executed a binding agreement to sell its Kouri and Babonga gold projects in Burkina Faso, West Africa.

Golden Rim's Managing Director, Craig Mackay, said: 'Securing this deal to divest our non-core Burkina Faso gold assets is a fantastic outcome for Golden Rim and our shareholders that looks to deliver immediate and impactful value from projects which are no longer part of our core operations. While we have been focussed on our transformational new Kada oxide gold project in Guinea, our projects in Burkina Faso have been sitting on the backburner and are attracting little market value. 'With a resource base of 2Moz gold and extensive upside, the Burkina assets offer an exciting opportunity for an emerging Burkinabe mining company, such as BAOR SARL, and we wish the company much success with its plans. 'With the sale funds from these projects, we can accelerate our activities at Kada and ensure aggressive drilling and exploration to build our resource base without further dilutionary capital raising for the foreseeable future. This is a great outcome for our company and shareholders, and we are excited to deliver it.'

Key Transaction Terms & Conditions

Golden Rim has signed a binding sale agreement to sell 100% of the shares in its Burkina Faso subsidiary company that owns and operates its Kouri Gold Project (Kouri) and Babonga Gold Project (Babonga) for cash payments totalling US$15.5 million.

About BAOR

BAOR is a mining company based in Burkina Faso with regional ambitions. BAOR aims to create a major African mining group with its financial partners and is managed by Mr Roger Bambara, a business leader with significant experience in insurance. The acquisition of the Kouri and Babonga gold projects by BAOR is its starting point

Contact:

Craig Mackay

Tel: +61 3 8677 0829

Email: craig@goldenrim.com.au

Forward Looking Statements

Certain statements in this document are or maybe 'forward-looking statements' and represent Golden Rim's intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Golden Rim, and which may cause Golden Rim's actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Golden Rim does not make any representation or warranty as to the accuracy of such statements or assumptions.

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