Golden Saint Resources : Licence Renewal and Operational Update

19 July 2016

Golden Saint Resources Ltd

('Golden Saint' or the 'Company')

Licence Renewal and Operational Update

Further to the Company's announcement of 16 May 2016, Golden Saint Resources Ltd (AIM:GSR), the West-African focused diamond and gold exploration company quoted on AIM, is pleased to update the market in relation to the renewal of its three exploration licences in Baja, Tongo and Moa and its operations in Tongo:

Exploration licence renewals

Following the Company's acceptance of the approval by the National Minerals Agency ('NMA') for the renewal of the Group's three exploration licences in Sierra Leone ( Baja, Tongo and Moa) on 18 July 2016 the Company received written payment orders from the NMA for the renewal of the licences in accordance with the following renewal terms:

Each licence is in respect of gold, diamonds and associated minerals.

The Baja licence area was reduced from 240.11 sq km to 59.51 sq km, at the Company's request following consultation with the Company's technical consultants, Rock Forage Consulting Services, for the reasons provided in the Company's announcement of 10 February 2016. Both the licence areas for Tongo and Moa remain the same size as previously granted.

The Company will be making arrangements to pay for the above three respective licences in the course of the next two weeks following which the Company is confident that the new licences will be granted.

Operational Update

The bulk sampling operations in Tongo are ongoing. During the month of July the Company washed and processed 120 tons of gravels from which the Company has so far recovered 8.21 carats of diamonds of varying sizes, weights and colours. A picture of the recovered rough diamonds can be found on the Company website at www.goldensiantresources.com.

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

For further information please contact: