Golden Star Resources Ltd.
TSX : GSC
AMEX : GSS

Golden Star Resources Ltd.
Mano River Resources Inc.
TSX VENTURE : MNO
AIM : MANA

Mano River Resources Inc.

November 17, 2005 12:39 ET

Golden Star and Mano River Discover New Gold Zones in Sierra Leone

DENVER--(CCNMatthews - Nov 17, 2005) -

Golden Star Resources Ltd. (TSX: GSC)(AMEX: GSS) and Mano River Resources Inc. (LSE: MANA)(TSX: MNO) today announced results from their continuing gold exploration programs in Sierra Leone, West Africa. New gold zones were discovered on the Pampana and Sonfon projects through identifying major gold-in-soil anomalies.

Between October 2004 and May 2005, nearly 5,300 samples were collected from the Pampana, Sonfon and Nimini properties in Sierra Leone (see Figure 1) which are held by the Mano River joint venture with Golden Star. The regional sampling exercise broadened the joint venture's targeting criteria over the three large project areas where there has been limited previous systematic exploration.

New Gold Discovery at Pampana

At Pampana North in the Archean Sula Mountains Greenstone Belt, a new gold discovery has been made (see Figure 2). Called the Alpha Trend, there are a number of highly anomalous gold occurrences (greater than 372ppb Au) along a six kilometer strike extent that occur three kilometers to the west of the Yirisen prospect, which was drilled by the joint venture in 2004.

The results of the regional sampling not only suggest that the new Alpha Trend is a better target than the Yirisen geochemical anomaly, they also highlight an additional target four kilometers south-southwest of previous drilling at Yirisen. Details of the diamond drilling program at Yirisen can be found in joint news releases dated June 7, August 4, and October 8, 2004 on the Mano River website at www.manoriver.com and on the Golden Star website at www.gsr.com. Figure 2 shows both the results of the regolith sampling and the significant results from the 2004 drilling program.

As the current regolith sampling was conducted on a wide-spaced grid (800 x 100m), both the Alpha and new Yirisen Trend anomalies will be followed up with closer-spaced sampling, mapping and trenching to identify drill targets for early 2006.

New Gold Discovery at Sonfon

Significant regolith gold anomalies (greater than 160 ppb Au, with high values up to 9,963 ppb Au) occur in north-south structures over a 10 kilometer strike length at Sonfon (see Figure 3). The majority of regolith mapped in this area is considered to have formed in situ and it is expected that bedrock mineralization may occur in close proximity to the surficial gold anomalies. This is further supported by the strongly anomalous rock-chip samples (three samples contained 2.25, 2.67 and 7.05 g/t Au) that have been taken in close proximity to the gold-in-soil anomalies. As at Pampana, the Sonfon anomalies will be immediately followed up with closer spaced sampling, mapping and trenching to identify drill targets for early 2006.

Dr. Douglas Jones, Vice President Exploration of Golden Star, said, "The identification of these previously unknown gold zones provides confidence that there is excellent potential to generate major new gold discoveries in the highly prospective, but largely unexplored Archean greenstone terrains of Sierra Leone."

Tom Elder, President and CEO of Mano River, added, "We are pleased to note that our efforts over several years are now beginning to deliver the results that we always believed would be forthcoming from these projects."

Follow-up drilling on Pampana and Sonfon is expected to commence in the second quarter of 2006. A budget of US$750,000 has been allocated to the initial phase of this work.

About Golden Star

Golden Star holds a 90% equity interest in both the Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, the Company has an 81% interest in the currently inactive Prestea Underground mine in Ghana as well as gold exploration interests elsewhere in West Africa and in the Guiana Shield of South America. Production is expected to increase to over 500,000 ounces in 2007, compared to expected production of approximately 200,000 ounces in 2005. Golden Star has approximately 143 million common shares outstanding.

About Mano River

Mano River is a well-funded exploration company focused on the discovery of gold and diamond deposits in the Archean terrain of the highly prospective, under-explored, West African Mano River Union countries of Sierra Leone, Liberia and Guinea. Mano River considers that the region has the potential to develop into a World-Class gold and diamond mining province, where it has over 25,000km2 under license, close to one million ounces of gold in resource, a cluster of diamondiferous pipes and joint ventures in place with Golden Star, BHP Billiton, Trans Hex Group and Navasota.

About the Golden Star - Mano River Joint Venture

The joint venture covers Mano River's portfolio of gold properties in Sierra Leone, comprising Pampana, Sonfon and Nimini licenses (see the Mano River press release of November 25, 2003 and Figure 1). Under the terms of the amended joint venture, Golden Star spent US$1 million by end December 2004 and must make an additional aggregate investment of US$5 million over a staged five-year period in order to earn a 51% interest in the joint-venture properties. Golden Star may earn a final equity interest of up to 86% depending on funding elections by Mano River. The Sonfon Property is also the subject of an existing joint venture between Mano River and Golden Prospect plc (AIM: GOL), a diversified investment fund specializing in the natural resources sector.

Sampling and Assaying Protocol: Neighboring one kilogram samples were combined, except when the neighboring material was of a different material type, to form two kilogram composite samples. The composite sample was then analyzed for gold by fire assay using a 50 gram charge and a 46 element suite (including silver, arsenic, copper, nickel, lead, antimony, tungsten and zinc) by Induction Coupled - Optical Emission Spectrometry (ICP-OES). The results quoted herein assume that the two samples used for each composite sample carry the same result.

All samples from the seven-month regolith sampling exercise were shipped to OMAC Laboratories in Ireland. Over 10% percent of the samples dispatched were assay standards (either blank samples or internationally recognized assay standards). From close scrutiny of the assay standard results, it can be demonstrated that the laboratory performed well over the duration of the Golden Star - Mano River sample analysis for all ranges of gold values.

The above disclosure has been prepared by Dr. Peter Turner, Exploration Manager, Africa, and Dr. Douglas Jones, Vice President Exploration, of Golden Star. Both are Qualified Persons for the release of exploration results as defined by Canada's National Instrument 43-101.

Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding the success of drilling of gold anomalies, the establishment and estimates of mineral reserves and non-reserve mineral resources, the recovery of any mineral reserves, planned operations, anticipated funding, grade, processing capacity, results of feasibility and technical studies, development, costs, expenditures, and exploration. Factors that could cause actual results to differ materially include timing of and unexpected events during exploration; variations in ore grade; variations in relative amounts of refractory, non-refractory and transition ores; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms; technical or permitting issues, and fluctuations in gold price and costs. There can be no assurance that future developments affecting Golden Star or the Golden Star - Mano River Joint Venture will be those anticipated by management. Please refer to the discussion of these and other factors in Golden Star's Form 10-K for 2004. The forecasts contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event. Investors and others should not assume that any forecasts in this press release represent management's estimate as of any date other than the date of this press release.

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Contact Information

  • Golden Star Resources Ltd., Denver
    Peter Bradford, 800-553-8436
    President and CEO (Accra, Ghana)
    or
    Allan Marter, 800-553-8436
    Senior VP & CFO (Denver, CO)
    or
    Mano River Resources
    Tom Elder, +44 (0)1235 810 740
    President and CEO (London, UK)
    or
    Raz Hussein, +1 (604) 689 1700
    Controller (Vancouver, BC)
    or
    Gary Middleton, +44 (0)207 929 4391
    St Swithins PR (London, UK)