Golden Star Resources Announces Resignation of CFO Jeff Swinoga and Promotion of André van Niekerk to CFO

03.18.2014

TORONTO, ONTARIO -- (Marketwired) -- 03/18/14 -- Golden Star Resources Ltd. (TSX:GSC)(NYSE MKT:GSS)(GHANA:GSR)("Golden Star" or the "Company") today announces that Jeff Swinoga, Executive Vice President and Chief Financial Officer has resigned from the Company to pursue other opportunities. The Board of Directors has appointed André van Niekerk, Vice President and Controller as the Company's new Executive Vice President and Chief Financial Officer. Jeff has agreed to remain with the Company to assist in the CFO transition until early April 2014.

André van Niekerk has more than 13 of years of mining experience at both an operational and corporate level including eight years at Golden Star. He has served as Controller of the Company since July 2012. In this role André was responsible for establishing the Company's enhanced financial reporting team in Toronto after the Company's head office relocation. Prior to that appointment, André held a number of finance positions throughout the Company for six years including four years as head of finance in Ghana. Whilst based in Ghana, André was Vice Chairman of the Ghana Chamber of Mines Energy Committee and a member of the Chamber of Mines Finance Committee. André is a qualified CPA and worked in KPMG's mining practice for six years before joining Golden Star.

Commenting on this transition, Sam Coetzer, President and CEO, said:

"I would like to thank Jeff for the significant contribution he has made to the Company in his time here. We all wish him the best in his future endeavors. I would also like to congratulate André on his promotion to CFO. André has a wealth of experience in the mining industry and has quickly advanced through the organization. He is a highly qualified CPA who has proven to be competent working across all levels of the Company. André will form part of an experienced management team that is supported by a Board with significant expertise in the North American capital markets."

Company Profile:

Golden Star is an established gold mining company that holds a 90% interest in both the Bogoso and Wassa open-pit gold mines in Ghana. Golden Star also has a 90% interest in the Prestea Underground mine in Ghana, which is currently undergoing permitting subsequent to a successful feasibility study being completed in June 2013. In 2013, Golden Star sold 331,000 ounces of gold and the Company expects to produce 295,000 to 320,000 ounces of gold in 2014.

Golden Star Resources Ltd.
Angela Parr
Investor Relations and Corporate Affairs
416-583-3815
investor@gsr.com
www.gsr.com

Source: Golden Star Resources Ltd.

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Non-GAAP Information

Golden Star also uses certain non-International Financial Reporting Standards (“IFRS”) financial measures as defined in applicable Canadian and United States securities laws ("non-GAAP measures"), including the terms “cash operating cost per ounce”, “all-in sustaining costs”, “cash generated from operations before working capital changes”, “adjusted net (loss)/income attributable to Golden Star shareholders and “adjusted net (loss)/income per share attributable to Golden Star shareholders”. Golden Star believes that these measures are similar to the measures of other gold mining companies, but may not be comparable to similarly titled measures in every instance. In addition, changes in numerous factors including, but not limited to, Golden Star’s share price, risk free interest rates, gold prices, mining rates, milling rates, ore grade, gold recovery, costs of labor, consumables and mine site general and administrative activities can cause these measures to increase or decrease.

Golden Star believes these measures are useful non-GAAP operating measures and supplement the IFRS disclosures made by the Company. These non-GAAP measures are not representative of all of Golden Star's cash expenditures and there are material limitations associated with the use of such non-GAAP measures. Since these non-GAAP measures do not incorporate all non-cash expense and income items, changes in working capital and non-operating cash costs, they are not necessarily indicative of operating profit or cash flow from operations as determined under IFRS.

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