West African gold explorer Golden Rim Resources Ltd (ASX: GMR; Golden Rim or Company) is pleased to announce further gold assay results for seven reverse circulation (RC) drill holes (totalling 1,093m) from its second round of resource definition drilling at the Kada Gold Project (Kada) in Guinea.

Highlights

Golden Rim's resource definition RC drilling at Kada continues to delineate multiple, broad, subparallel zones of gold mineralisation.

Extensive additional gold mineralisation located within historic Newmont gold resource area.

New results to add significant ounces in the planned Kada maiden Mineral Resource Estimate (MRE), on track for delivery in February 2022.

Golden Rim has completed second round of Kada resource definition drilling; 46 holes for 6,796m.

Assays for the final 10 holes of the resource definition drilling are pending; results expected shortly.

Exploration RC drilling is underway and progressing well along the Kada gold corridor.

Golden Rim has extended Kada exploration drilling contract to 3,950m.

Golden Rim's Managing Director, Craig Mackay, said: 'The seven holes reported in this release infilled gaps in previous drilling within and surrounding the Newmont non-JORC gold resource area. We drilled KRC049 in the underexplored northern portion of the resource area and it returned promising long intercepts of gold mineralisation in both the oxide and fresh material. Golden Rim has also extended its RC exploration drilling contract to provide more coverage along the 15km Kada gold corridor. Our initial focus for this exploration drilling is immediately north of the resource area, before moving to test several exciting target areas along the corridor that have potential to add more ounces to the Kada gold inventory.'

Kada Resource Definition Drilling

Golden Rim recently completed its second round of Mineral Resource definition drilling at Kada, which focused on an area where Newmont previously outlined a non-JORC gold resource. New assay results from seven infill RC holes (KRC037B, KRC043B, KRC045 - KRC049) for 1,093m are reported in this announcement, assays for 10 holes remain outstanding and will be reported as soon as available.

KRC045 to KRC047 were drilled on section 1,224,280mN, in areas where Golden Rim's preliminary grade shell modelling following its first round of resource definition drilling in mid-2021required additional data for model confidence. All three holes intersected mineralisation up-dip or down-dip from previous drilling and have expanded the mineralisation significantly. A very promising result is that half of the gold intersection of 61m @ 1.2g/t gold from surface in KRC047, including a higher-grade zone of 7m @ 3.5g/t gold from 42m, was beyond the preliminary mineralisation modelling. The holes were characterised by very strongly altered fine grained tuff, with the highest gold grades being associated with kaolinization, iron-rich quartz veins and traces of tourmaline.

KRC048 and KRC049 were drilled on section 1,224,560mN in an area of poor drill density in the northern portion of the Newmont gold resource area. This section is 40m south of holes KRC001-KRC004 which were drilled as part of Golden Rim's Phase 1 RC drilling in June 2021, and where KRC001 intersected a thick zone of oxide gold mineralisation, 46m at 1.3g/t gold. KRC049 was drilled directly south of KRC001 and demonstrates that the broad mineralisation is continuous, with multiple intercepts, including 28m at 1.0g/t gold from 62m and 42m at 1.5g/t gold from 141m.

Drilling intersected interbedded greywacke and fine-grained tuff with intense silicic alteration and fine quartz veins. KRC037B was a re-drill of KRC037 on section 1,224,440N which was terminated at 30m due to hole blockage. This drilling successfully extended mineralisation west of the preliminary modelling and contains broad intercepts of low-grade gold in both oxide and fresh material. This hole is dominated by fine grained volcanic tuff, +/- garnet, with strong haematite + chlorite alteration.

Contact:

Craig Mackay

Tel: +61 3 8677 0829

Email: craig@goldenrim.com.au

Forward Looking Statements

Certain statements in this document are or maybe 'forward-looking statements' and represent Golden Rim's intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Golden Rim, and which may cause Golden Rim's actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Golden Rim does not make any representation or warranty as to the accuracy of such statements or assumptions.

(C) 2022 Electronic News Publishing, source ENP Newswire