ASX/Media Announcement

7 March 2013

Letter to Shareholders

Golden Rim Resources Ltd (Golden Rim, ASX: GMR) provides to the ASX a letter to shareholders with details of the recently announced Entitlement Offer. The letter was sent to shareholders on 26 February 2013.

-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 [email protected]

Further Company Information

E: [email protected]
W:goldenrim.com.au

Capital Structure

Issued Shares: 511,206,231
Unlisted Options: 33,950,000

Major Shareholders

Royal Group, Abu Dhabi 10.7% Acorn Capital 5.58%

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: [email protected]
W: securitytransfer.com.au

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 [email protected] I T + 61 8 9481 5758 I F + 61 8 9481 5759

29917v1

26 February 2013
Dear Shareholder

Golden Rim Resources Limited - Details of Entitlement Offer for Shareholders

As announced on 15 February 2013, the directors of Golden Rim Resources Limited (Golden Rim) have resolved to undertake a pro-rata renounceable Entitlement Offer of 1 fully paid ordinary share (New Share) for every 9
Golden Rim shares at an issue price $0.04 per New Share (Entitlement Offer).
The Entitlement Offer will raise approximately $2,272,028. The funds raised under the Entitlement Offer along with the funds raised under the placement announced on 15 February 2013 will provide the Company with the necessary funds to conduct further exploration at the Balogo and Sebba projects; complete a definitive feasibility study for the Netiana Lodes at Balogo (subject to the results of the scoping study); provide for the initial acquisition costs in respect of a 90% interest in the Korongou project and exploration at the Korongou project, including a maiden RC drilling program; and provide working capital.
The Record Date for the Entitlement Offer is 5.00pm (WST) on 5 March 2013 (Record Date).
Patersons Securities Limited is the lead manager and underwriter to the Entitlement Offer. The Company will pay Patersons Securities Limited an underwriting fee equal to 4% of the underwritten amount of $2,272,028 (being approximately $90,881) and a management fee of 1% of the total amount raised by the Entitlement Offer (being up to approximately $22,720 (plus GST)).
The Entitlement Offer is to be implemented under a prospectus dated 22 February 2013 (Prospectus). The Prospectus will be sent to eligible shareholders shortly together with a personalised Entitlement and Acceptance form. The Prospectus (without your personalised Entitlement and Acceptance form) has been lodged with Australian Securities Exchange (ASX) and is available on the ASX website and on Golden Rim's website at www.goldenrim.com.au.

Summary of key features of the Entitlement Offer

The Entitlement Offer is open to eligible shareholders who bought shares before 5 March 2013 and held those shares as at the Record Date with registered addresses in Australia, New Zealand and the United Arab Emirates (Eligible Shareholders). All other shareholders are not eligible to participate in the Entitlement Offer and will be notified by Golden Rim separately (Ineligible Shareholders). Ineligible Shareholders will not be entitled to subscribe for New Shares under the Entitlement Offer. The Company's Ineligible Shareholders are in countries outside of Australia, New Zealand and the United Arab Emirates.
Under the terms of the Entitlement Offer, Eligible Shareholders will be entitled to subscribe for 1 New Share for every 9 Golden Rim shares bought before 27 February 2013 and held at the Record Date at an issue price of A$0.04 per New Share (Entitlements). Where fractions arise in the calculation of Entitlements, they will be rounded up to the nearest whole number of New Shares. Eligible Shareholders may also apply for additional New Shares in excess of their Entitlement on the terms set out in the Prospectus.

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 [email protected] I T + 61 8 9481 5758 I F + 61 8 9481 5759

Golden Rim reserves the right to reduce the number of New Shares allocated to Eligible Shareholders, or persons claiming to be Eligible Shareholders, if their claims prove to be overstated or they fail to provide information to substantiate their claims.
The New Shares will rank equally with the existing ordinary shares (Shares) from the date of issue.
The current number of Shares on issue in Golden Rim is 511,206,231. Under the Entitlement Offer, approximately
56,800,692 New Shares will be issued and the number of Shares on issue at the completion of the Entitlement Offer will be 568,006,923. The number of options on issue will remain unchanged as a result of the Entitlement Offer.
Golden Rim currently has 33,950,000 unquoted options with varying exercise prices and expiry dates, on issue. Existing optionholders may participate in the Entitlement Offer upon exercise of their options. The Company sent a notice to optionholders on 22 February 2013 notifying them of their right to participate in the Entitlement Offer upon exercise of their options.

Selling your Rights

Entitlements to acquire New Shares pursuant to the Entitlement Offer are renounceable and a market to trade these Entitlements will be established on the ASX from 27 February 2013. Rights trading will cease at close of trading on the ASX on 19 March 2013.
Under the Entitlement Offer, Eligible Shareholders can choose whether or not to take up their Entitlements in whole or in part. Eligible Shareholders who do not participate in the Entitlement Offer may sell their Entitlements on the ASX or transfer their Entitlements to another person other than on the ASX. If Eligible Shareholders take no action, they will not be allocated New Shares and their Entitlements will lapse without any compensation.
If you are an Eligible Shareholder and wish to sell some or all of your Entitlements on ASX, please contact your stockbroker as soon as possible. If you wish to transfer all or part of your Entitlements to a person, other than by trading on ASX, you must:

 (If applicable) complete the Entitlement and Acceptance form in respect of any part of your Entitlement that you wish to take up and make payment in accordance with the directions contained in the Prospectus; and

 complete the standard renunciation and transfer form (available from your stockbroker or Security Transfer

Registrars Pty Limited) in favour of the transferee.
The completed renunciation and transfer form and the transferee's payment for the number of New Shares taken up must be sent by the transferee to the address set out below. These documents must be received by no later than 5:00pm (WST) on 26 March 2013.

By Post:

Security Transfer Registrars Pty Limited
PO Box 535
APPLECROSS WA 6953
AUSTRALIA

By Delivery:

Security Transfer Registrars Pty Limited
770 Canning Highway
APPLECROSS WA 6153
AUSTRALIA
Golden Rim reserves the right to reject any acceptance of an Entitlement that they believe comes from a person who is not eligible to accept an Entitlement. The only persons who are eligible to accept an Entitlement that they have acquired either by a trade on ASX or otherwise off-ASX are investors having a registered address in Australia, New Zealand or the United Arab Emirates provided that in each case, such person is not in the United States.

Indicative timetable

The indicative timetable for the Entitlement Offer is as follows:
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The above timetable is indicative only and subject to change. Golden Rim reserves the right to amend any or all of these events, dates and times subject to the Corporations Act 2001 (Cth), the ASX Listing Rules and other applicable laws. In particular, Golden Rim reserves the right to extend the closing date of the Entitlement Offer, to accept late applications either generally or in particular cases or to withdraw the Entitlement Offer without prior notice. The commencement of quotation of New Shares and New Options is subject to confirmation from ASX.

More information

Before making a decision whether to apply for New Shares, please read the Prospectus carefully in its entirety when you receive it. The Entitlement Offer is scheduled to close at 5:00pm (WST) on 26 March 2013.
The Directors of Golden Rim recommend that if you are in doubt as to the value of the Entitlement Offer then you should contact your financial adviser.
Should you have any queries please contact Hayley Butcher or Gilbert Rodgers on +61 8 9481 5758.
Yours faithfully

GOLDEN RIM RESOURCES LTD

HAYLEY BUTCHER

Company Secretary

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