Golden Saint Resources Regulatory News (GSR)

17 November 2016

Golden Saint Resources Ltd

("Golden Saint" or the "Company")

Placing

The board of Golden Saint (AIM:GSR) ("Board") is pleased to announce that on 17 November 2016 the Company raised £400,000 before expenses, by way of a placing ("Placing") of 1,333,333,333 new Ordinary Shares of no par value in the Company ("Placing Shares") at a placing price of 0.03 pence per share (being a discount of approximately 29.4 per cent. to the closing middle market price of 0.0425 pence per ordinary share of no par value in the Company ("Ordinary Share") on 16 November 2016, being the last practicable date prior to finalising the Placing).

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 net proceeds of the Placing to further develop its exploration programs by providing general working capital for its bulk sampling operations and for the purchase of plant and equipment.

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 24 November 2016.

Following Admission of the Placing Shares, the Company's issued share capital will consist of 5,835,056,581 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. This number 5,835,056,581 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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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