Ann: Golden Rim Completes Acquisition of the Paguanta Project-GMR.AX, page-3

Golden Rim Completes Acquisition of the Paguanta Zinc - Silver - Lead Project Summary  Golden Rim has finalised the acquisition of a 70% interest in the Paguanta Project in northern Chile.  The final acquisition price is US$1.49m cash and a further US$0.8m worth of Shares, at a decision to mine, for a total of US$2.29m.  The Patricia Prospect at Paguanta hosts Mineral Resources 1 of 4.4Mt at 3.7% zinc, 1.4% lead, 84 g/t silver and 0.2 g/t gold at 2% zinc cut-off and 0.6Mt at 93 g/t silver and 1.4% lead at 40 g/t silver cut-off.  Golden Rim’s due diligence on Paguanta revealed that coherent higher grade mineralisation predominantly associated with a hydrothermal breccia in the Cathedral Vein at Patricia is likely to be the Company’s focus for a future mine development.  At a 3% zinc cut-off, there is a higher grade Mineral Resource at Patricia of 1.8Mt at 5.6% zinc, 2.0% lead, 125 g/t silver and 0.2 g/t gold or 1.8Mt at 9.8% zinc equivalent (ZnEq)2 .  The higher grade mineralisation is mainly associated with the Cathedral Vein and is open at depth and along strike.  An initial Exploration Target of approximately 4.5Mt to 6.8Mt at approximate grades of 4.5% to 6.7% zinc, 1.5% to 2.3% lead and 100 g/t to 150 g/t silver has been estimated for this area of potential extension to the higher grade resource at Patricia.  Golden Rim’s strong cash balance enables the Company to commence a significant work program at Paguanta with initial work focussed on drilling to extend the high grade resource at Patricia.  Since the start of 2016, there has been a strong rise in zinc (44%) and silver (41%) prices, and the Directors of Golden Rim believe the acquisition of Paguanta presents a timely and exciting new opportunity for shareholders.