Golden Star Resources Ltd. (AMEX: GSS)(TSX: GSC)(GSE: GSR) is pleased to announce that delivery of high-grade ore from the Benso property at HBB to the Wassa processing plant commenced in August, 2008. This delivery of ore was originally anticipated to occur in late September so we are pleased to have the benefit of high-grade material three weeks earlier than planned.
We further report that Mill 2 at Wassa, which has two identical ball mills operating independently in parallel, recently experienced a mechanical breakdown involving the pinion gear assembly. It is estimated it will take seven to nine weeks to return the mill to full operation. In the meantime, Mill 1 at Wassa has not been affected and continues to process treating the ore supply from the Benso and Wassa pits.
Tom Mair, President and CEO said: "Milling operations at Wassa are continuing and we will work expeditiously to put Mill 2 back into operation. Regardless, we are pleased with the earlier than planned delivery of high grade Benso ore into our plant which will minimize the impact of the Mill 2 down time. We expect to produce 135,000 ounces of gold from Wassa in 2008 which is the low end of our guidance. There will be no impact on 2009 guidance."
COMPANY PROFILE
Golden Star holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa open-pit gold mines and the Hwini-Butre and Benso properties in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 236 million shares outstanding.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Investors are cautioned that forward-looking statements are inherently uncertain and
involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding the expected benefit of the high grade ore from Benso and other statements regarding the development of Golden Star. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in our Form 10-K for 2007.