Licence Renewal Update

23 March 2016

Golden Saint Resources Ltd

("Golden Saint" or the "Company")

Licence Renewal Update

Further to Golden Saint's (AIM: GSR) announcement of 10 February 2016, the Board would like to make the following update in relation to the Company's ongoing licence renewal process.

Renewal applications for all three exploration licences: Tongo; Baja; and Moa, have been submitted to the National Minerals Agency ("NMA"). These applications are currently under consideration by the NMA and it is likely that approval can be expected by the end of the first half of 2016 when the approval process is completed. The Company has been advised by the NMA that the Company is compliant with its financial obligations for all three licences and that it may continue to operate on the licence areas while the renewal process is underway. The NMA has also indicated that they do not envisage any reason why the three licences will not be renewed.

The Company will keep the market updated of progress in relation to the licence renewal process over the coming weeks.

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