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Golden Star Resources completes US$135 million acquisition of St. Jude Resources

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Golden Star Resources Ltd.

On December 21, 2005 Golden Star Resources Ltd. completed the acquisition of St. Jude Resources Ltd., a West African exploration company with properties in Ghana, Burkina Faso and Niger, pursuant to a plan of arrangement effected under the Canada Business Corporations Act. Each St. Jude common share was exchanged for 0.72 of a Golden Star common share. Based on the closing trading price of the Golden Star common shares on the Toronto Stock Exchange on the day prior to the announcement of the arrangement, the transaction had a value of approximately $135 million. Fasken Martineau acted as Canadian counsel to Golden Star in respect of this transaction with a team comprised of John Turner, Richard Steinberg, Tracy Hooey, John Sabetti, Krisztian Toth, Dan Rankin, Christopher Sullivan and Karoline Kralka (securities/corporate), Mitchell Thaw (tax).



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