FARADA

Golden Rim Resources Ltd today announced details of its proposed three part capital raising. The company will raise up to A$4,387,500 to institutional and sophisticated investors by placing 33,750,000 shares at the issue price of 13 cents. The company will raising an approximate further A$2,800,000 by offering to existing shareholders of Golden Rim (as at 18 November 2009) approximately 21,538,461 shares at 13 cents each. The company is also proposing to make a further placement to its cornerstone investor, Royal Group, of Abu Dhabi. Royal Group wishes to maintain their 14% to 15% strategic investment in Golden Rim. This placement will also be made at 13 cents for each share. The primary purpose of the fundraising is to conduct a follow up drilling program on new targets generated at the Sepola Project in Mali, following completion of the aeromagnetic survey. The funds will also be used for the first phase of drilling at the Farada Project in Southern Mali, once targets have been generated after completion of the aeromagnetic survey currently underway at Farada.

Golden Rim Resources announced the commencement of a high resolution aeromagnetic and radiometric survey over areas of the Company’s Farada project in southern Mali.

Golden Rim has acquired three licences in southern Mali (the Farada Project). The licences cover an area of 99 km2 over highly gold prospective Birimian volcano-sedimentary rocks. Little exploration work and no previous drilling has been conducted at the Farada Project. The company holding an adjoining licence recently defined a significant Inferred Resource of 5,560,000 tonnes at 3.02 g/t gold for 540,933 ounces beneath a major arsenic soil anomaly. This same major arsenic soil anomaly extends for over 8 km through Golden Rim’s Farada Project area. Auger drilling followed by reverse circulation drilling is scheduled for October 2009, immediately following the rainy season.