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GMR: New Gold Targets Identified in Mali

Golden Rim Resources Ltd (GMR, Golden Rim) today announced it has received positive assay results from the first significant exploration program conducted at Niaouléni in southern Mali. The Company completed a major soil and termite geochemical sampling program on the Niaouléni licence, which comprises part of the Company’s Faraba Project. Golden Rim’s Managing Director, Mr Craig Mackay, said the successful program has outlined five major gold anomalies for follow-up sampling and then drilling. “This was the first ever major exploration program in the Niaouléni licence area,” said Mr Mackay. “We received very high gold results in soil and termite mound sampling over broad areas.” “In addition, we were highly encouraged by the discovery of extensive active artisanal workings in the vicinity of a number of these gold anomalous areas,” he said. “These artisanal miners are extracting gold in bedrock-hosted quartz veining, which lies beneath shallow laterite and soil cover.” Much of the licence area is covered by shallow lateritic or transported soil cover which in the past, proved a disincentive to conduct exploration in the region. The recently discovered 0.5Moz Kobada gold deposit lies under a similar lateritic cover, approximately 7km to the northeast of Golden Rim’s Niaouléni licence. The program of geochemical sampling at Niaouléni was completed on a 400m x 100m grid and was conducted over the entire licence, covering an area of 45km2. A total of 955 soil, 150 termite mound and three rock chip samples were collected. The maximum gold-in-soil value obtained was 3.85 g/t, with 13 samples returning gold values above 1 g/t. The maximum result from a termite mound was 1.64 g/t gold, with 14 samples returning gold values above 0.1 g/t and at least five areas appearing to be significantly anomalous in gold. A major follow-up work program is planned to commence after the wet season when access is available to the area. This program, expected to commence in December 2010, will involve infill soil and termite mound sampling in anomalous areas, ground geophysics and reverse circulation drilling.