Shareholder Communications Policy

It is the Company’s intention that shareholders be regularly made aware of developments and operations of Golden State Resources Limited. This intention is implemented on a number of fronts:

• The Annual Meeting of Shareholders, currently held in November of each year, isstructured to provide effective communication to shareholders and allow reasonable opportunity for informed participation. The Company’s Auditor attends the Annual Meetingand is available to respond to shareholder questions. A report on results of the meetingand any important matters is provided to shareholders as an ASX announcement and/orShareholder Letter and is posted on the Company’s website.
• The Company makes at least five periodical reports on operations each year:
  • The Annual Report, released prior to the Annual Shareholder Meeting
  • Quarterly reports released within one month of the end of each quarter
• The Company makes at least six reports on financial matters each year:
  • The half-year and full-year financial results
  • Quarterly cash flow reports released within one month of the end of each quarter
• Occasional ASX announcements are made consistent with the Company’s undertaking tomaintain Continuous Disclosure.
• Occasional letters are sent to Shareholders on matters of significance to the Company.
• The Company’s web-site (www.goldenstate.com.au) maintains an up-to-date record of all announcements made to the ASX including information used in investor reviews, industryseminars and media releases.
• Shareholders are encouraged to participate in the direction and ongoing operations of the Company. The Managing Director is available to receive contributions and will respond to Shareholder questions via email (gsr@goldenstate.com.au) or in writing to the postal address.