Golden Star Resources Ltd.
TSX : GSC
NYSE Amex : GSS

Golden Star Resources Ltd.

December 03, 2009 16:15 ET

Golden Star Files Preliminary Prospectus

DENVER, COLORADO--(Marketwire - Dec. 3, 2009) - Golden Star Resources Ltd. ("Golden Star" or the "Company") (TSX:GSC)(NYSE Amex:GSS)(GSE:GSR) today announced that it has filed a preliminary short-form prospectus with regulatory authorities in all provinces of Canada other than Quebec and a preliminary prospectus supplement in the United States with the United States Securities and Exchange Commission, both relating to its proposed public offering of common shares (the "Offering"). The Offering will be conducted through a syndicate of underwriters led by BMO Capital Markets.

Although the size and pricing of the Offering have not yet been determined but will be determined in the context of the market with final terms to be determined at the time of pricing, the Company expects to raise gross proceeds of approximately US$75 million. The Company has granted the underwriters an option, for a period of 30 days following the closing of the Offering, to purchase additional common shares of up to an additional 15% of the Offering size, to cover over-allotments, if any.

The net proceeds of the Offering will be used to continue with committed capital projects, exploration activities and for general corporate purposes. The Offering is expected to close on or about December 17, 2009 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.

A copy of the short form prospectus relating to the common shares may be obtained upon request by contacting BMO Capital Markets, Distribution Department, 1 First Canadian Place, B2 Level, Toronto, Ontario, M5X 1H3 (tel: 416-363-6996 x224), and a copy of the U.S. prospectus supplement may be obtained upon request by contacting BMO Capital Markets Corp., Attention: Lori Begley, 3 Times Square, 27th Floor, New York, New York, 10036 (tel:212-885-4039).

About Golden Star Resources

Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 237 million shares outstanding.

Contact Information

  • Golden Star Resources Ltd.
    Bruce Higson-Smith
    Vice President Corporate Development
    +1-800-553-8436
    or
    Golden Star Resources Ltd.
    Anne Hite
    Investor Relations Manager
    +1-800-553-8436