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Exhibit 99.1

 

LOGO

Wassa Gold Mine Q2 2013 Step Out and Infill Drilling Results Continue to

Confirm and Extend High Grade Zones

Highlights of Drill Program:

 

   

BSDD 262 – 47.1 meters (“m”) grading 7.2 grams per tonne (“g/t”) gold

 

   

BSDD 260 – 62.8 m grading 4.1 g/t

 

   

BSDD 256 – 52.9 m grading 4.3 g/t

 

   

BSDD 285 – 27.9 m grading 5.0 g/t

Toronto, ON — July 18, 2013 — Golden Star Resources Ltd. (NYSE MKT: GSS; TSX: GSC; GSE: GSR) (“Golden Star” or the “Company”) today provided an update on exploration activities at its Wassa gold mine in Ghana. Full drill results, plans, and sections are available on the Company’s website at www.gsr.com or by clicking the following link: http://www.gsr.com/Operations/Wassa.asp.

As part of the Company’s cost savings measures (see Golden Star’s June 17, 2013 press release) all contract drills were halted in the second quarter of 2013. The remaining infill and step out drilling is being conducted utilizing the Company’s multi-purpose drill rigs on a single shift. Prior to the contract rigs being demobilized, a total of 47 drill holes were completed for 14,265 m. During the second quarter of 2013, drilling continued to infill large gaps in the existing drilling as well as test the high grade zone down plunge to the south.

Wassa Drilling:

Drill holes BSDD256 and BSDD260 were both step out holes to the south testing the high grade zone down the plunge of the Wassa Main fold. Drill hole BSDD260 drilled 25 m south of the previously reported (see Golden Star’s April 30, 2013 press release) high grade zone (42.9 m grading 3.8 g/t) intersected in hole BSDD227, on section 19700 N, was successful in extending the zone to the south, intersecting 62.8 m grading 4.1 g/t from 478.5 m. Hole BSDD256 drilled on cross section 19600 North, 75 m to the south of hole BSDD260 intersected a 52.9 m gold mineralized zone grading 4.3 g/t from 444.5 m drilled depth. Although these gold mineralized intersections mentioned above are relatively deep, it adds confidence to the Company’s interpretation and understanding of the high grade mineralization at Wassa. At current gold prices it is uncertain whether this deeper mineralization could be exploited by open pit mining however the Company is now able to project the zone down plunge and investigate whether the high grade is continuous enough for underground mining methods.

 

 

Golden Star Resources Ltd. (www.gsr.com)     News Release 13-17 Page 1 of 5


Drilling on sections 19800 North and 19850 North infilled drill hole spacing exceeding 85 m and returned gold grades greater than holes up and down dip with hole BSDD285 and BSDD262 intersecting 27.9 m grading 5.0 g/t from 439 m and 47.1 m grading 7.2 g/t from 349.7 m, respectively. These wider and higher grade drilling results are expected to have a positive effect on the estimated grades in this area when the Company’s resource models are updated. Other significant drilling results are tabulated below with complete drilling results available on the Company’s website.

Work has commenced on the resource model update and the Company expects to have this report completed in Q3 2013. At that time the evaluation of both the open pit and potential underground viability will be assessed. Pending the completion of the resource estimates and evaluation of the economics of the higher grade deeper material, further drilling to test the zone down dip has been deferred.

Sam Coetzer, President and CEO of Golden Star commented, “It is now time to look closely at the drilling results that we have compiled since the last resource model update at the end of August 2012 and assess the economic viability of the deeper mineralization at the current gold prices. Grade control drilling has focused on the up dip projection of the Wassa high grade zone where it daylights in the Starter pit area, with results from this drilling confirming the higher grades intersected by exploration drilling and adding further confidence to our geologists understanding of this deposit.”

Wassa Main Q2 2013 Significant Drill Intersections:

 

Hole ID

   E (m)    N (m)    Elev
(m)
   Azim
(°)
   Dip
(°)
   From
(m)
   To
(m)
   Drilled
Width
(m)
   ~True
Width
(m)
   Gold
Grade
g/t

STDD033

   39988    20312    958    90    -61    66.0    71.0    5.0    3.5    12.4

STDD033

   39988    20312    958    90    -61    75.0    109.0    34.0    24.0    4.3

STDD032

   39983    20225    961    90    -47    82.0    97.0    15.0    12.9    5.2

SEDD091

   40221    19937    988    90    -50    139.8    145.8    6.0    5.0    5.5

SEDD088

   40243    20425    1009    90    -56    112.0    141.0    29.0    22.2    2.1

SEDD082

   40322    19847    988    90    -50    30.0    55.0    25.0    20.7    1.2

SEDD081

   40304    19875    988    90    -53    58.0    86.0    28.0    22.4    1.2

SEDD079

   40081    19751    1008    90    -59    226.7    245.7    19.0    13.9    3.8

BSDD288

   39719    19725    1043    90    -72    446.0    476.0    30.0    27.8    1.2

BSDD287

   39845    19550    1031    90    -76    385.3    409.7    24.4    21.9    1.4

BSDD286

   39944    19550    1010    90    -69    408.0    444.0    36.0    34.0    1.2

BSDD285

   39672    19800    1050    90    -62    439.0    467.5    28.5    27.9    5.0

BSDD285

   39672    19800    1050    90    -62    561.2    574.0    12.8    12.5    2.2

BSDD284

   39897    19625    1024    90    -70    430.0    449.0    19.0    17.9    2.2

BSDD280

   40031    20250    966    90    -55    217.6    233.6    16.0    12.3    2.1

BSDD279

   40032    20150    967    90    -75    104.0    117.0    13.0    6.5    6.0

BSDD278

   40081    20270    967    90    -63    172.1    180.1    8.0    5.4    5.4

BSDD275

   39855    19625    1025    90    -67    484.0    494.0    10.0    9.6    3.5

BSDD275

   39855    19625    1025    90    -67    497.0    512.0    14.7    14.1    5.9

 

 

Golden Star Resources Ltd. (www.gsr.com)     News Release 13-17 Page 2 of 5


BSDD274

   39892    20100    993    90    -71    107.0    120.0    13.0    7.3    4.1

BSDD272

   40078    20000    967    90    -59    287.0    301.0    14.0    13.8    3.4

BSDD272

   40078    20000    967    90    -59    304.0    316.0    12.0    11.9    2.6

BSDD271

   39979    19675    1015    90    -55    273.0    294.0    21.0    20.9    1.6

BSDD270

   40160    20221    967    90    -50    183.0    191.0    8.0    6.6    5.2

BSDD268

   40001    19700    1015    90    -53    145.7    157.9    12.2    9.6    3.0

BSDD267

   39764    20074    1012    90    -60    148.5    158.5    10.0    7.1    3.6

BSDD267

   39764    20074    1012    90    -60    355.3    357.3    2.0    2.0    20.4

BSDD266

   39811    19750    1035    90    -62    467.8    492.0    24.2    23.7    2.7

BSDD264

   39985    20100    967    90    -52    77.0    98.2    21.2    16.9    5.5

BSDD264

   39985    20100    967    90    -52    134.2    149.0    14.8    11.8    3.2

BSDD264

   39985    20100    967    90    -52    186.0    198.0    12.0    9.6    3.8

BSDD263

   39811    19650    1032    90    -75    321.5    342.7    21.2    19.2    1.9

BSDD262

   39855    19850    1027    90    -63    323.3    338.7    15.4    15.0    2.4

BSDD262

   39855    19850    1027    90    -63    349.7    398.0    48.3    47.1    7.2

BSDD262

   39855    19850    1027    90    -63    452.0    472.0    20.0    19.5    1.5

BSDD260

   39775    19680    1039    90    -61    478.5    542.5    64.0    62.8    4.1

BSDD258

   39835    19895    1030    90    -67    327.7    361.6    33.9    32.4    2.0

BSDD256

   39854    19600    1027    90    -73    444.5    502.0    57.5    52.9    4.3

BSDD256

   39854    19600    1027    90    -73    519.5    534.0    14.5    13.3    2.6

BSDD255

   39919    19775    1015    90    -59    281.6    297.6    16.0    15.8    5.7

BSDD254

   39679    19925    1043    90    -55    392.5    424.5    32.0    31.9    2.1

BSDD253

   39934    19900    1016    90    -59    261.4    272.0    10.6    10.5    3.3

BSDD250

   39788    19726    1037    90    -60    340.5    376.0    35.5    35.0    0.9

BSDD249

   39837    19700    1035    90    -60    492.7    513.7    21.0    20.7    3.3

BSDD247

   39816    19650    1032    90    -67    560.0    585.8    25.8    24.7    1.7

BSDD239B

   39721    19725    1043    90    -65    576.0    585.7    10.7    10.3    3.1

242DD077

   39525    20006    1051    325    -54    153.1    162.1    9.0    8.9    3.3

Company Profile:

Golden Star holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana. In addition, Golden Star has a 90% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in Brazil in South America.

Statements Regarding Forward-Looking Information:

Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Such statements include: the viability of expansion at Wassa and the ability to grow the life of mine; the impact of drill results on grades in the Company’s upcoming resources model; the Company’s expectations regarding its exploration and drilling activities during the remainder of 2013 and the timing thereof; expectations

 

 

Golden Star Resources Ltd. (www.gsr.com)     News Release 13-17 Page 3 of 5


regarding the interpretation of drilling results; the consideration of underground mining at Wassa; the Company’s ability to grow the life of mine at Wassa; and the timing for completing a National Instrument 43-101 report. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties. Factors that could cause actual results to differ materially include timing of and unexpected events during exploration; variations in ore grade; variations in relative amounts of refractory, non-refractory and transition ores; technical or permitting issues; fluctuations in gold price and costs; availability of capital and/or external financing on acceptable terms; changes in U.S. and Canadian securities markets; and general economic conditions. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these risks and other factors in the Company’s Form 10-K for 2012 and other filings of the Company with the United States Securities and Exchange Commission and the applicable Canadian securities regulatory authorities. The forecasts contained in this press release constitute management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.

QA/QC:

The technical contents of this press release have been reviewed and approved by S. Mitchel Wasel, BSc Geology, a Qualified Person pursuant to National Instrument 43-101. Mr. Wasel is Vice President of Exploration for Golden Star and an active member and Registered Chartered Professional of the Australasian Institute of Mining and Metallurgy.

The results for Wassa quoted herein are based on the analysis of saw-split HQ/NQ diamond half core or a three kilogram single stage riffle split of a nominal 25 to 30 kg Reverse Circulation chip sample which has been sampled over nominal one meter intervals (adjusted where necessary for mineralized structures). Sample preparation and analyses have been carried out at SGS Laboratories in Tarkwa using a 1,000 gram slurry of sample and tap water which is prepared and subjected to an accelerated cyanide leach (LEACHWELL). The sample is then rolled for twelve hours before being allowed to settle. An aliquot of solution is then taken, gold extracted into Di-iso Butyl Keytone (DiBK), and determined by flame Atomic Absorption Spectrophotometry (AAS). Detection Limit is 0.01 ppm.

All analytical work is subject to a systematic and rigorous Quality Assurance-Quality Control (QA-QC). At least 5% of samples are certified standards and the accuracy of the analysis is confirmed to be acceptable from comparison of the recommended and actual “standards” results. The remaining half core is stored on site for future inspection and detailed logging, to provide valuable information on mineralogy, structure, alteration patterns and the controls on gold mineralization.

Additional information on earlier drilling results and Mineral Reserve and Mineral Resource estimates at Wassa are available in the Company’s National Instrument 43-101 compliant Technical Report titled “NI 43-101 Technical Report on Mineral Resources and Mineral Reserves Golden Star Resources Ltd, Wassa Gold Mine, Ghana, Effective Date 31st December 2012”.

 

 

Golden Star Resources Ltd. (www.gsr.com)     News Release 13-17 Page 4 of 5


For further information, please contact:

GOLDEN STAR RESOURCES LTD.

Jeff Swinoga, Executive Vice President and Chief Financial Officer

416-583-3803

INVESTOR RELATIONS

Belinda Labatte, The Capital Lab, Inc.

647-427-0208

Greg DiTomaso, The Capital Lab, Inc.

647-427-0208

 

 

Golden Star Resources Ltd. (www.gsr.com)     News Release 13-17 Page 5 of 5