27.07.2006 23:17:00
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Golden Star Appoints Lars-Eric Johansson a Director; Golden Star Announces Millionth Ounce Commemorative Coin
Golden Star is also pleased to announce that it will soon produceits millionth ounce of gold, marking a significant milestone in thehistory of the Company; it is expected that this milestone will occursome time in August. To commemorate this accomplishment, Golden Starhas commissioned a commemorative coin which will be available forpurchase by the public. Coins will be available for purchase afterAugust 29, 2006.
Golden Star commenced gold production in Ghana in 1999, producing36,074 ounces of gold that year. Gold production forecasts for 2006and 2007 are estimated to be approximately 300,000 and 500,000 ouncesof gold respectively, which is expected to move Golden Star from ajunior mining company to a mid-tier gold producer in 2007.
Anyone interested in purchasing a Golden Star Resources Ltd.commemorative coin can log onto the Golden Star website atwww.gsr.com. Three varieties of coin, each with identical design, arebeing produced -- gold, silver, or silver with gold highlights. Thegold coin will be one ounce of gold while the silver and mixed coinswill be less than an ounce of silver due to the difference in metalweights. Information, including the prices of each style of coin andordering information, will be available on the website by August 29.
Golden Star holds a 90% equity interest in the Bogoso/Prestea andWassa open-pit gold mines in Ghana. In addition, Golden Star has an81% interest in the currently inactive Prestea Underground mine inGhana, as well as gold exploration interests elsewhere in Ghana, inother parts of West Africa and in the Guiana Shield of South America.
Statements Regarding Forward-Looking Information: Some statementscontained in this news release are forward-looking statements withinthe meaning of the Private Securities Litigation Reform Act of 1995.Forward-looking statements contained in this press release relate toour 2006 and 2007 production estimates and our transition to mid-tierproducer status. Investors are cautioned that forward-lookingstatements are inherently uncertain and involve risks anduncertainties that could cause actual results to differ materially.Please refer to the discussion of risk factors in our Form 10-K for2005. The forward-looking statements contained in this press releaseconstitute management's current estimates, as of the date of thispress release, with respect to the matters covered thereby. We expectthat these estimates will change as new information is received andthat actual results will vary from these estimates, possibly bymaterial amounts.
For further information on the Golden Star Resources Ltd.commemorative coin, please contact:
GOLDEN STAR RESOURCES LTD. +1-800-553-8436
Anne Hite, Investor Relations Manager
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