Golden Saint Resources Regulatory News (GSR)

13 June 2016

Golden Saint Resources Ltd

("Golden Saint" or the "Company")

Placing and appointment of Joint Broker

The board of Golden Saint (AIM:GSR) ("Board") is pleased to announce that on 10 June 2016 the Company raised £400,000 before expenses (£371,000 net of commissions payable by the Company), by way of a placing ("Placing") of 571,428,571 new Ordinary Shares of no par value in the Company ("Placing Shares") at a placing price of 0.07 pence per share (being a discount of approximately 24.3 per cent. to the closing middle market price of 0.0925 pence per ordinary share of no par value in the Company ("Ordinary Share") on 9 June 2016, being the last practicable date prior to finalising the Placing and a 25 per cent. premium to the placing which the Company announced on 18 May 2016).

The Placing is conditional only upon admission of the Placing Shares to trading on AIM and has been carried out within the Company's existing share authorities.

The Company intends to use the proceeds of the Placing to continue its bulk sampling operations and for general working capital purposes.

The Company is also pleased to announce the appointment of SVS Securities as joint broker (alongside existing joint broker and nominated adviser, Beaumont Cornish Limited) with immediate effect.

The Placing Shares will rank pari passu with the existing Ordinary Shares and application has been made for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Placing Shares will commence at 8.00 a.m. on 17 June 2016.

Following Admission of the Placing Shares, the Company's issued share capital will consist of 4,501,723,248 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. This number 4,501,723,248 may be used by shareholders, following Admission, 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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