SOUTH AMERICAN EXPLORATION

Suriname

Golden Star has sold its joint venture interest to Newmont for approximately $8 million.

French Guiana

Golden Star sold the Paul Isnard and other projects to Auplata for approximately $2.1 million.

Brazil

For five years, Golden Star has been evaluating and acquiring prospective properties for its property portfolio in Brazil. These activities will continue in 2010 and beyond.