NYSE MKT: GSS

Price: 0.70 Volume: 1,316,673 Change: -0.01 % Change: -1.08% April 27, 2017

Gold

Price: 1,265.86 Volume: Change: -3.94 % Change: -0.31% April 27, 2017

Community Initiatives

Golden Star supports a number of initiatives to create longer term benefits for communities. Here are some of the projects we have supported to date:

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Golden Star Oil Palm Plantation Project (GSOPP)

Golden Star directs $1 per ounce of gold produced to GSOPP with the objectives to reduce poverty through employment generation and promote wealth creation through sustainable agri-business. GSOPPP is a multi-award winning social enterprise project, established in April 2006 as a non-profit subsidiary of Golden Star. GSOPP supports the development of oil palm plantation by host communities, using the smallholder concept, in partnership with the Traditional Authorities, affected farmers, and the agro-forestry industry, and as at the end of 2015, GSOPP involved 305 small-holder farmers and 325 contract workers over 973 Ha of plantation. As the palms planted in 2006 have now reached maturity fruit production in 2015 increased by 46% on 2014, providing a good income to the smallholder farmers, many of whom are now able to build homes they may never otherwise have hoped for.

Community Health

Ensuring healthy lives and well-being is essential to sustainable development. As part of our CSR programs we have built hospital outpatients departments, health centers, clinics and nurses’ quarters. We are also involved in a number of partnerships to promote preventative health. With the guidance of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Ghana Health Service and other partners, we are collaborating to strengthen national systems, provide wellbeing and social programs for employees and communities, and in a land-mark initiative, to pilot the provision of preventative health systems through national health structures. Golden Star is also a supporter of Project CURE (www.projectcure.org), which since 2003, has delivered 29 containers of medical equipment to Ghana, serving over 18 million people.

Education

Society has recognized that to reduce poverty education is critical. Since 2006 we have built six schools, as well as dormitories, teachers quarters and school bus stops. Golden Star supports the education of almost 3,000 registered dependents of our employees through educational subsidies, and through our development foundations we have awarded scholarships to over 750 other children in our host communities. To support families we provide school bus services for 7 communities, helping almost 300 school children to access education.

Water and Sanitation

Every year millions of people, most of them children, die from diseases associated with inadequate water supply, sanitation and hygiene. To aid our host communities Golden Star has funded installation of more than 190 water supply systems that feed over 33,000 households. Before Golden Star’s involvement, most of these communities were heavily reliant on streams, often affected by illegal mining, and communities reported walking up to several kilometres a day to get water. To support sanitation improvements we have built toilet blocks, waste disposal facilities and reclaimed refuse sites, and have undertaken campaigns of education on hands washing, hygiene and sanitation.

Breast Cancer Awareness

Breast cancer is one of the leading diseases affecting women in Ghana. Approximately 70% of breast cancer cases are not diagnosed until the cancer reaches an advanced stage, which limits treatment options and chances of survival. One of our flagship programs is the breast cancer awareness initiative of the Golden Star Ladies Club. Our 2015 program, conducted in collaboration with GIZ and other key sponsors, including AEL Mining Services, Ghana Health Services and International SOS, was a resounding success. Over 4,000 women and girls participated in clinical breast cancer screening held in workplaces and 23 of our host communities. In an overwhelming act of support and generosity, spouses of some of our employees and Board supported the initiative by producing original artworks that were exhibited and sold in support of the program.

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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.