NYSE MKT: GSS

Price: 0.84 Volume: 1,416,434 Change: +0.01 % Change: +1.01% December 15, 2017

Gold

Price: 1,259.30 Volume: Change: +1.30 % Change: +0.1% December 15, 2017

Golden Star Receives PDAC 2018 Environmental & Social Responsibility Award

11.15.2017

TORONTO, Nov. 15, 2017 /PRNewswire/ - Golden Star Resources (NYSE American: GSS; TSX: GSC; GSE: GSR) ("Golden Star" or the "Company") is pleased to announce that it has been awarded the 2018 Environmental and Social Responsibility Award by the Prospectors and Developers Association of Canada ("PDAC").

Selected by PDAC's Board of Directors, this award recognizes an organization that demonstrates outstanding initiative, leadership, and accomplishment in establishing and maintaining good relations with local communities and in protecting and preserving the natural environment during an exploration program or operation of a mine.

Golden Star will be honored at an awards ceremony to be held during PDAC's annual convention in Toronto on March 6, 2018.

Sam Coetzer, President and Chief Executive Officer of Golden Star, commented:

"We are very proud to receive the PDAC 2018 Environmental and Social Responsibility Award.  Responsible mining is at the heart of our company and we are committed to working with the highest level of respect for the communities and environments in which we operate.  Whenever I visit our operations I am humbled by the passion and commitment shown by our team to working in a respectful way and ensuring that a positive and sustainable legacy remains beyond the lives of our operations.  In addition to providing a safe workplace, we invest in infrastructure, medical programs and facilities, employment and skills training, education and agricultural programs.  We are also committed to broadening gender diversity at all levels of our company, with women now strongly represented on our Board, in our management team and in our operations teams.  We have had a presence in Ghana for 18 years and we are proud to contribute to the economic growth of the communities, region and country in which we work.  However this award does not just belong to Golden Star, but to all of our partners in Ghana, and to them I give my deepest thanks for working alongside us to create long term, sustainable value for all of our stakeholders." 

Other recognition for Golden Star's commitment to corporate responsibility

Golden Star has received several awards for its corporate responsibility efforts in the past.  In 2008 Golden Star was awarded the prestigious Nedbank Capital Green Mining Award for the Company's creation and continuing support of the Golden Star Oil Palm Plantation ("GSOPP").  GSOPP is a social enterprise initiative, funded with $1 per ounce of gold produced.  It employs over 700 people and delivers crop yields that are three times the small-holder average in Ghana.

At the 30th National Farmer's Day Celebrations, GSOPP was recognized with the Best Farm Based Organization Award and a GSOPP participant, Mr. Tuffour Quaicoe, was named Best Oil Palm Farmer.

Golden Star are proud to have been recognized at the Minerals Commission annual awards in the categories of Best Rescue Mine, Best Safe Mine Based on Accident Statistics, Best Mine based on HSE Audit and Best Improved Mine based on Occupational Injury Performance, with our operations rating first, second or third in all of these categories since 2014.

Additionally the Minerals Commission recognized the Wassa Gold Mine ("Wassa") team with three successive annual wins in the national Mines Safety and First Aid Competition from 2014-2016. Wassa's Health and Safety Superintendent, Shamsudeen Sidi Adam, was also presented with the first ever Excellence Achievement award for managing the Wassa team during its three years as champions.

At the inaugural Ghana Mining Industry Awards gala in 2015, Wassa won the Best Performance in Occupational Health and Safety, and underlined this performance in 2016 as first runner up in the category.

Golden Star also achieved recognition at the Ghana Mining Awards in 2016 as first runner up in the category of Corporate Social Investment Project of the Year for the company's Prestea South Mbease Nsuta Community Benefit and Value Retention Initiative.  Through this project, Golden Star supported the formation and licensing of Local Companies in Mining Services ("LOCOMS") as a parent company for 18 locally registered companies. The initiative successfully enhances opportunities for smaller local companies to grow and become more competitive in regards to the provision of mining supply and support services. To date, LOCOMS companies have employed over 250 people directly since its inception, and have been paid over $11m.  In 2016, over 84% of the value of Golden Star Ghana's goods and services was provided by Ghanaian companies.

The Company's Community Relations and Social Responsibility Manager for the Prestea mine, Robert Gyamfi, was also given an award by the Ministry of Trade and Industry in 2016 for his contribution towards the development of a national corporate social responsibility policy for Ghana.

For more information about Golden Star's commitment to being a responsible corporate citizen, please visit www.gsr.com/responsibility or the Golden Star Corporate Responsibility blog, which is called Golden Star in the Community (goldenstarinthecommunity.blogspot.ca).

All monetary amounts refer to United States dollars unless otherwise indicated.

Company Profile:

Golden Star is an established gold mining company that owns and operates the Wassa and Prestea mines situated on the prolific Ashanti Gold Belt in Ghana, West Africa. Listed on the NYSE American, the TSX, and the GSE, Golden Star is strategically focused on increasing operating margins and cash flow through the development of its two high grade, low cost underground mines both in conjunction with existing open pit operations. The Wassa Underground Gold Mine commenced commercial production in January 2017 and the Prestea Underground Gold Mine is expected to achieve commercial production in the fourth quarter of 2017. Gold production in 2017 is expected to be 255,000-280,000 ounces with cash operating costs of US$780-860 per ounce.

SOURCE Golden Star Resources Ltd.

please visit www.gsr.com or contact: Katharine Sutton, Vice President, Investor Relations and Corporate Affairs, 1 416 583 3800, investor@gsr.com

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Please note the information presented is given as at the date and the time of its original release. Changes in such historical information may occur due to adjustments in accounting and reporting standards & procedures.

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.

The non-GAAP information is not prepared in accordance with IFRS and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should not be viewed in isolation or as a substitute for, or superior to, other data prepared in accordance with IFRS. For an explanation of the Non-GAAP financial measures used by the Company, please refer to the heading “Non-GAAP Financial Measures” in the Company’s Management Discussion and Analysis of Financial Condition and Results of Operations for the Three Months ended March 31, 2014 and the Company’s Management Discussion and Analysis of Financial Condition and Results of Operations for the Year Ended December 31, 2013, available at www.sedar.com.