News Column

Golden Rim Resources Ltd. - Conditions for $3 Million Funding From Aurora Complete

May 14, 2014



ENP Newswire - 14 May 2014

Release date- 13052014 - Golden Rim Resources Ltd (ASX: GMR) today announced that the conditions precedent to the secured convertible loan from Aurora Minerals Ltd (Aurora; ASX: ARM) have been satisfied.

On 5 May 2014, Golden Rim announced that had it had arranged for A$3 million in funding from Aurora. The funding was conditional upon the satisfaction of these conditions precedent.

The receipt of the funds will allow Golden Rim to recommence significant work programs in Burkina Faso and to again provide a regular news flow of results to shareholders. This is particularly pleasing since the Company has not been in the position to undertake any drilling since late October 2013. Initially, Golden Rim intends to conduct auger and reverse circulation drilling programs at the Korongou Project, to follow up various targets within the 16km gold mineralized corridor.

While Balogo remains the Company's main focus, exploration work is also required at Korongou in order to meet Burkina Faso Government expenditure commitments. The funding provided by Aurora will also allow Golden Rim to meet the exploration permit option payments due (approximately A$0.9 million), predominantly at Korongou, over the next 12 months. Golden Rim looks forward to bringing further news to shareholders regarding its drilling program, as it comes to hand.

Contact:

Hayley Butcher

Company Secretary

Golden Rim Resources

Tel: +61 8 9481 5758


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Source: ENP Newswire


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