Convertible Bond and Operational Update

3 March 2015

Golden Saint Resources Ltd

("Golden Saint" or the "Company")

Convertible Bond and Operational Update

Golden Saint (AIM: GSR) announces the following updates:

Convertible Bond

The Company and Darwin Strategic Limited ("Darwin")  have now agreed that no further tranches of senior unsecured zero coupon convertible bonds ("Bonds") will be drawn down by the Company under the programme announced on 20 October 2014.

The current amount owing to Darwin under the Bonds amounting to £700,000 remains redeemable on the existing terms although the Company has agreed a small discount on any early repayment, all other terms remain unchanged.

The remaining outstanding Bonds will mature on the 20 October 2016.

Operational Update

Further to the Company's announcement of 6 February 2015 the Company is pleased to announce:

- that the 49 carats of gem quality diamonds cut and polished by Parikh Brothers in Mumbai have been sent back to the Company's Head Office in Perth and will shortly be offered for sale through the Golden Saint Diamond Club;

- that the Dove Explorer has now arrived at the Tongo licence area and is expected to be operational by mid-March 2015; and

- the soil samples taken from the Baja and Moa Licence areas have now arrived at Diatech Heavy Mineral Services' Laboratory in Perth, Australia for analysis.

For further information please contact: