NYSE MKT: GSS

Price: 3.22 Volume: 445,267 Change: +0.25 % Change: +8.42% November 16, 2018

Gold

Price: 1,223.41 Volume: Change: +0.00 % Change: +0% November 18, 2018
responsibility
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Giants of Africa

Golden Star is partnering with Giants of Africa, a not-for-profit, Africa-focused youth organization, as part of our commitment to industry-leading corporate social responsibility.

Giants of Africa was founded by the President of the Toronto Raptors basketball team, Masai Ujiri, with the aim of creating opportunities for African youth through the game of basketball. During its 15 year history, the organization has held numerous training camps across the continent, providing coaching, sports clothing and training equipment to hundreds of African young people. To find out more about Giants of Africa, visit http://giantsofafrica.org/

In 2015 and 2016 Giants of Africa hosted basketball training camps in Ghana’s capital, Accra, but the 2018 program was hosted in the Western region for the first time, close to Golden Star’s Prestea Complex.

Golden Star has sponsored the construction of a multi-purpose sports and recreational centre, which hosted the training camp and is now open for use by the Prestea community. The centre is built on a former waste dump – click here to see the Story of the Prestea Recreational Park.

The camp ran from October 12 to October 14, 2018 and was attended by 54 of Ghana’s most accomplished young basketball players, aged 18 and under. The players were selected from across Ghana and in addition to basketball coaching, they received mentorship in life skills, such as leadership and self-discipline.

Check out these photos of the basketball camp and the new sports and recreational centre:

(Images 1-22 courtesy of Giants of Africa)

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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.

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.

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