Golden Saint Resources Regulatory News (GSR)

14 August 2014

Golden Saint Resources Ltd

("Golden Saint" or the "Company")

Sponsorship of licence areas

Further to the announcement dated 12 August 2014, Golden Saint (AIM:GSR) announces that Golden Saint Diamonds Limited ("GSD") has reached agreement with Mr Maluei Mohamed from the Southern Zimmi Chiefdom of Makpele, Gelehun who, on 23 July 2014, was granted two artisanal mining licences, the first in the village of Gelehun in the Makpele Chiefdom (Pujehun District) and the second in the village of Mamie in the Soro Gbema Chiefdom (Pujehun District) (together the "Zimmi Areas") to sponsor the alluvial mining work to be performed in the Zimmi Areas. The decision to sponsor the work was made following the recommendation of the Company's Senior Geologist, Mr Ernst Gbappi, who visited the Zimmi Areas with his team.

Under the terms of the agreement between GSD and Mr Maluei Mohamed, dated 7 August 2014 ("Agreement"), GSD will be responsible for all the artisanal mining operations through a representative and shall provide machinery, mining tools, food, fuel and lubricants required for the smooth running of the artisanal mining operation including the issuing and renewing of the artisanal licences when required in return for full control over the mining operations and confirmation that the total value of all diamonds won under the licence are to be shared between GSD and the landholding family (being the family of Mr Maluei Mohamed) as to 70% and 30% respectively. The Agreement is valid for an initial period of three years and can be renewed at the end of this period.

If the results of the artisanal mining are encouraging, GSD will consider applying for a small scale mining licence in the Zimmi Areas. The area to be covered by the small scale mining licences may not exceed 100 acres by law. While the Zimmi Areas are very small (each licence covering an area of approximately 0.005 square km)it provides GSD with the opportunity to work with the local artisanal miners to establish how prospective the Zimmi Areas are for diamonds. In return for local community support in the Zimmi Areas over the last six weeks, GSD was given a 3.75 carat intense yellow diamond, which was discovered by Mr Maluei Mohamed in the Zimmi Areas, for sale. A picture of this diamond can be found on the Golden Saint website at www.goldensaintresources.com

In addition, Golden Saint is pleased to announce that following a visit to a factory in Mumbai that operates a diamond processing business, the Company is in negotiations regarding the terms of engagement for the cutting, polishing and grading of 200 carats of rough diamonds currently held by Golden Saint.

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