La Mancha Announces Closing of Investment of US$125.7 Million in Golden Star Resources

LUXEMBOURG


LUXEMBOURG, Oct. 02, 2018 (GLOBE NEWSWIRE) -- La Mancha Holding S.à r.l. (“La Mancha”), a Luxembourg-incorporated private gold investment company, is pleased to announce that it has completed the acquisition of 163,210,500 common shares (the “Shares”) of Golden Star Resources Ltd. (NYSE American: GSS; TSX: GSC; GSE: GSR) (“Golden Star”) in connection with its previously announced strategic investment of US$125.7 million in Golden Star.

La Mancha beneficially owns and has control and direction over an aggregate of 163,210,500 common shares of Golden Star representing approximately 30% of the issued and outstanding common shares.

La Mancha acquired the common shares of Golden Star for investment purposes. In the future La Mancha may, from time to time, increase or decrease its investment in Golden Star through market transactions, private agreements, treasury issuances or otherwise at any time subject to the terms of an investor rights agreement between La Mancha and Golden Star and other applicable restrictions.

La Mancha’s head office is located at 31‐33 avenue Pasteur L‐2311 Luxembourg.

Golden Star’s head office is located at 150 King Street West, Sun Life Financial Tower, Suite 1200, Toronto, Ontario, Canada, M5H 1J9.

La Mancha will file an updated early warning report in accordance with applicable securities laws, which will be available under Golden Star’s profile on the SEDAR website at www.sedar.com, and may also be obtained by contacting:

Andrew Wray
Chief Executive Officer of the La Mancha Group
T: +44 203 6678755
Email: contact@lamancha.com

About La Mancha Group

La Mancha is a privately held international gold company with investments in Endeavour Mining, Evolution Mining and Golden Star Resources, having operations in West Africa (Mali, Burkina Faso, Côte d’Ivoire and Ghana) and Australia, respectively. La Mancha was taken private in 2012 by the Sawiris family. Under the Sawiris family ownership, since 2012, La Mancha has expanded its exposure to mining operations in Africa and Australia, and with this investment in Golden Star, is invested in three mining companies with total production exceeding 1.8 million gold equivalent ounces per annum.  Mrs. Yousriya Loza-Sawiris owns all of the issued and outstanding shares of Marchmont Limited, the holding company of La Mancha Holding S.à r.l. Mrs. Loza-Sawiris is the mother of Mr. Naguib Sawiris, Chairman of the Advisory Board of La Mancha Holding S.à r.l. For more information, please visit www.lamancha.com.