Golden Star Resources completes purchase and exchange of US$74.5 million existing debentures for issuance of US$77.5 million of new debentures

Golden Star Resources Ltd. (“Golden Star”) announced that it had completed the sale of US$77.5 million aggregate principal amount of 5.0% Convertible Senior Unsecured Debentures due June 1, 2017 (the “Debentures”). Pursuant to purchase and exchange agreements entered into on May 17, 2012, Golden Star purchased an aggregate of US$74.5 million of the principal amount of its 4.0% Convertible Senior Unsecured Debentures due November 30, 2012 (the “Original Debentures”), by way of privately negotiated transactions with certain holders of Original Debentures in exchange for the issuance of the Debentures. Golden Star was advised in this transaction by a team of Fasken Martineau lawyers that included, among others, John Sabetti, John Turner, Alex Nikolic (corporate / securities) and Mitchell Thaw (tax).