Golden Saint Resources Regulatory News (GSR)

20 January 2015

Golden Saint Resources Ltd

("Golden Saint" or the "Company")

 Progress on projects in Sierra Leone

Golden Saint (AIM: GSR) is pleased to announce the following operational updates to the market:

Highlights:

• Baja - First stage of bulk sampling complete: diamond recoveries to be advised after further work

• Tongo Site - Dove Explorer wash plant arriving soon for bulk sampling

• Zimmi Areas - Gravel washing commenced overseen by Golden Saint's local MD

• Tongo/Baja - Annual exploration licences paid

• Golden Saint diamonds in Mumbai - cutting/polishing to be completed by end Feb 2015

We are pleased to report that the first stage of the bulk sampling exercise at the Company's licence area in Baja has been successfully completed and the Company is currently awaiting completion of submission of reports to National Mineral Agency, before being able to announce the diamond recoveries from the Baja bulk sampling. It has been recommended to the Board that bulk sampling exercise at Baja should continue and preparations are being made to resume gravel extraction shortly.

It is expected that the Dove Explorer, a portable wash plant owned by the Company, which is easy to install and operate and does not require an operator or fresh water, will be relocated to the Tongo licence area this month in order to complete the first stage of the bulk sampling in Tongo before being moved back to the Baja licence areas.

Golden Saint Diamonds Ltd has completed the purchase of a local washing plant for the Zimmi Areas (as defined in the Company's announcement dated 14 August 2014) and the plant is currently on site and gravel washing has commenced. The first part of this exercise is expected to last for at least 30 days and will be overseen by Golden Saint's local Managing Director, Mr Timothy Bangura. Mr Bangura has had primary responsibility for obtaining Golden Saint Resources (Africa) Limited's ("GSR Africa") exploration licences, is responsible for ensuring that GSR Africa complies with its obligations under the exploration licences obtained and has had many years of experience in artisanal/small scale precious minerals including gold in the area.

The annual licence fees for the Tongo and Baja licence areas have been paid. The reports for the Moa licence area are being prepared and the annual fees will be paid as soon as the reports are completed and submitted to the National Mineral Agency. Independent consultant geologists, Wardell Armstrong International, consider that the Tongo exploration licence is prospective for diamonds and has the greatest near term potential to identify economic diamond deposits.

Golden Saint has been advised by Parikh Brothers that the diamonds that were sent to them in Mumbai for cutting and polishing will be completed by the end of February 2015. Once the cutting and polishing is completed, the Company will make a decision as to whether to sell this off wholesale or have it certified and added on to its inventory.

GSR Website: www.goldensaintresources.com

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