An anonymous director reports

GOLDEN STAR RESOURCES ANNOUNCES FILING OF PEA FOR WASSA MINE

Golden Star Resources Ltd. has filed a technical report prepared in accordance with National Instrument 43-101 regarding a preliminary economic assessment on the development of an underground mining operation at its Wassa mine in Ghana.

This technical report can be accessed under the company's profile on SEDAR and on the company's website.

Golden Star announced the findings of this preliminary economic assessment on Sept. 15, 2014, the highlights of which are as follows:

• Internal rate of return of 129 per cent estimated for the Wassa mine, at a $1,300-per-ounce gold price;
• Net present value discounted at 5 per cent of $350-million estimated for the Wassa mine, at a $1,300-per-ounce gold price;
• Preproduction incremental capital expenditure to develop an underground mine estimated at $41-million;
• Project to be financed with $35-million of existing credit facilities;
• First production from the Wassa underground mine expected in early 2016, with an estimated mine life of 10 years thereafter for combined operations.

The report, entitled "NI 43-101 Technical Report on a Preliminary Economic Assessment of the Wassa Open Pit Mine and Underground Project in Ghana," was prepared by SRK Consulting (UK) Ltd., under the supervision of Michael J. Beare, BSc, CEng, who is an independent qualified person under NI 43-101.

Technical information

The technical contents of this press release have been reviewed and approved by Dr. Martin Raffield, PEng, a qualified person pursuant to NI 43-101. Dr. Raffield is senior vice-president of technical services for Golden Star.

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