Operational Update - Grant of Export Licence

4 October 2013

Golden Saint Resources Ltd

("Golden Saint" or the "Company")

Operational Update - Grant of Export Licence

Golden Saint Resources Ltd, the West African diamond and gold exploration company, is pleased to announce that on 27 September 2013 Golden Saint Resources (Africa) Limited was granted a 12 month Diamond Exporter's Licence by the Ministry of Mines and together with it, the Kimberly Process Certificate issued by the National Minerals Agency of the Government of Sierra Leone. The Diamond Exporter's Licence allows Golden Saint (Africa) Limited to purchase and export diamonds from holders of Artisanal/Small Scale Mining and Dealer's Licences in each of the Company's Tongo, Moa and Baja licence areas as well as surrounding areas. The issuance of this licence brings Golden Saint one step closer to achieving near term revenue from its alluvial mining and working with the artisanal and small scale miners, while still progressing with its exploration programme.

Cyril D' Silva, Executive Chairman of Golden Saint commented:

"The grant of the Diamond Exporter's Licence together with our memorandum of understanding with Solid Gold Jewellers Pty Ltd as Trustee for the Essgee unit trust trading as Adamas Australia ("Solid Gold") for the evaluation and assessment of the Company's initial shipments of rough diamonds from Sierra Leone ("MOU") (as announced in my statement contained within our interim results on 27 September 2013) are important steps in Golden Saint's strategy to commence near-term, small scale alluvial diamond mining. With the MOU in place and the ability to conduct alluvial mining on our exploration licence areas the Company will soon be in a position ship out alluvial diamonds from Sierra Leone on a regular basis which will augur well for the cash flow of the Company. I look forward to being able to advise on potential shipment of diamonds in the coming weeks."

For further information please contact:

Golden Saint Resources Ltd Cyril D'Silva, Executive Chairman +618 64677778

Beaumont Cornish Limited Roland Cornish / Emily Staples +44 (0) 20 7628 3396

Optiva Securities Jason Robertson +44 (0)20 3411 1881

Newgate Threadneedle Graham Herring/Robyn McConnachie +44 (0)20 7653 9850