Golden Star Resources Announces Receipt of Environmental and

Golden Star Resources Announces Receipt of Environmental and Mining
Permits for Phase I of the Prestea Underground Mine 
DENVER, CO -- (Marketwire) -- 01/10/13 --  Golden Star Resources Ltd.
(NYSE MKT: GSS) (TSX: GSC) (GHANA: GSR) ("Golden Star" or the
"Company") today announced it has received the environmental and
mining permits for Phase I development of the Prestea Underground
mine. All references in this press release to "$" are to United
States dollars. 
"These permits allow the Company to commence initial development in
the Central Shaft area in order to achieve early production and
advance our infrastructure, with the long-term goal of transforming
Prestea Underground into a modern, mechanized mine and a key
contributor to lower cost gold production going forward," said Sam
Coetzer, President and CEO. "We are preparing for early production
from existing infrastructure and remnant stopes in the Central Shaft
area as allowed by these permits. We are also proceeding with a
feasibility study on the development of the West Reef area,
completion of which is expected in the first half of 2013." 
Highlights of the West Reef Preliminary Economic Assessment (PEA)*
completed in 2012: 


 
--  An Indicated Mineral Resource of 874,000 tonnes grading 18.07 grams
    per tonne (g/t) for 508,000 ounces of gold, and the deposit is open
    along strike and down dip;
    
    
--  An Inferred Mineral Resource of 510,000 tonnes grading 11.58 g/t for
    190,000 ounces of gold, and the deposit is open along strike and down
    dip;
    
    
--  Results from ongoing drilling programs on the 17 and 24 levels of the
    West Reef area will be incorporated into the information being
    gathered for the West Reef feasibility study;
    
    
--  The PEA contemplates a 1,200 tonnes per day mining operation
    (including mineralized material from development);
    
    
--  Currently delineated West Reef material is expected to be processed at
    the Bogoso non-refractory processing plant and produce up to 97,000
    ounces of gold per year at full operation, with estimated life-of-mine
    gold production of 437,000 ounces;
    
    
--  Life-of-mine cash operating costs (before royalty and taxes) are
    estimated at $600 to $700 per ounce;
    
    
--  Capital costs, including a decline and hoisting shaft, are estimated
    at approximately $115 million;
    
    
--  Net present value at $1,500/oz gold price and 5% discount rate is $107
    million (post-tax); and,
    
    
--  Internal rate of return of 21%.

  
*Full text of the PEA titled "NI 43-101 Preliminary Economic
Assessment, Mechanized Mining of the West Reef Resource, Prestea
Underground Mine, Prestea, Ghana" and dated May 3, 2012, including
the basis for the PEA and its underlying assumptions and
qualifications, is posted on www.sedar.com, www.sec.gov/edgar.shtml
and the Company's website at www.gsr.com or access the following link
and scroll down to the Prestea Underground section of the page:
http://www.gsr.com/Operations/Bogoso.asp. 
The technical contents of this press release have been reviewed and
approved by Dr. Martin Raffield, P.Eng., a Qualified Person pursuant
to National Instrument 43-101. Dr. Raffield is Senior Vice President
Technical Services for Golden Star.  
COMPANY PROFILE
 Golden Star Resources holds the largest land package
in one of the world's largest and most prolific gold producing
regions. The Company 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, West Africa. In addition, Golden Star has an 81% interest
in the 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. Golden Star has approximately 259 million
shares outstanding. Additional information is available at
www.gsr.com.  
Cautionary Note to Investors Concerning Estimates of "Indicated
Mineral Resources" and Inferred Mineral Resources" 
This press release uses the terms "Indicated Mineral Resources" and
"Inferred Mineral Resources". The Company advises US investors that
while these terms are recognized and required by National Instrument
43-101, the US Securities and Exchange Commission ("SEC") does not
recognize them. US investors are cautioned not to assume that any
part or all of the mineral deposits in these categories will ever be
converted into a higher category or into mineral reserves. Inferred
Mineral Resources have a great amount of uncertainty as to their
existence, and great uncertainty as to their economic and legal
feasibility. US investors are cautioned not to assume that any part
or all of the Inferred Mineral Resource exists, or is economically or
legally mineable. Also, disclosure of contained ounces is permitted
under Canadian regulations; however the SEC generally requires
mineral resource information to be reported as in-place tonnage and
grade. The PEA is preliminary in nature, it includes Inferred Mineral
Resources that are considered too speculative geologically to have
economic considerations applied to them that would enable them to be
categorized as mineral reserves, there is no certainty that the PEA
will be realized and mineral resources that are not mineral reserves
do not have demonstrated economic viability. 
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. Investors are cautioned that
forward-looking statements are inherently uncertain and involve risks
and uncertainties that could cause actual results to differ
materially. Specifically, statements in this news release regarding
plans to commence development of the Prestea Underground mine and
achieve early production in the Central Shaft area; plans to
transform Prestea Underground into a modern, mechanized mine and
contributor to lower cost gold production; plans to review early
production options; plans to complete a feasibility study on the West
Reef including plans to incorporate results from ongoing drilling
programs on the 17 and 24 levels of Prestea Underground into such
feasibility study, as well as the expected timing of the feasibility
study; plans to process material at the Bogoso oxide processing
plant; and estimates of processing rates, gold production, operating
costs, capital costs, net present value and internal rates of return
are forward looking statements. Factors that could cause actual
results to differ materially include timing of and unexpected events
at Prestea Mine and the Bogoso/Prestea oxide and sulfide processing
plants; variations in ore grade, tonnes mined, crushed or milled;
variations in relative amounts of refractory, non-refractory and
transition ores; delay or failure to receive board or government
approvals and permits; the availability and cost of electrical power;
timing and availability of external financing on acceptable terms;
technical, permitting, mining or processing issues; changes in U.S.
and Canadian securities markets; and fluctuations in gold price and
costs 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 and other
factors in our Form 10-K for 2011 and subsequent Forms 10-Q 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 and
that actual results will vary from these estimates, possibly by
material amounts. 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. Investors and others
should not assume that any forecasts in this press release represent
management's estimate as of any date other than the date of this
press release. 
For further information, please contact: 
GOLDEN STAR RESOURCES LTD.
Bruce Higson-Smith
Senior Vice President Corporate Strategy
1-800-553-8436 
INVESTOR RELATIONS
Jay Pfeiffer
Pfeiffer High Investor Relations, Inc. 
303-393-7044 
 
 
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