Golden Saint Resources Regulatory News (GSR)

24 September 2014

Golden Saint Resources Ltd

("Golden Saint" or the "Company")

Equity Placing

Golden Saint today announces that it has raised £589,994.04 gross proceeds through the issue of 29,499,702 new ordinary shares of no par value in the Company ("Placing Shares") at a price of 2 pence per share (the "Placing"). The Placing Shares which were issued at a discount of approximately 6 per cent. to the closing mid-market price on 23 September 2014 represent approximately 7 per cent. of the Company's existing issued share capital.

Cyril D'Silva, Executive Chairman of Golden Saint, commented:

"The funds from the Placing will be used by the Company for general working capital purposes and will enable the Company to focus more aggressively on its bulk sampling program as well as further sponsorship of artisanal miners in the Zimmi region."

Application will be made for the Placing Shares, which will rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings in the Placing Shares on AIM are expected to commence on or around 1 October 2014.

Following the Placing, the Company's issued share capital will consist of 449,671,703 ordinary shares of no par value, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.

The above figure of 449,671,703 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules of which the Company has incorporated Chapter 5 into its articles of association.

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