Golden Star Announces Normal Course Issuer Bid

TORONTO, March 18, 2019 / PRNewswire / – Golden Star Resources Ltd. (NYSE US: GSS, TSX: GSC, GSE: GSR) ("Golden Star" or the "Company") announces that the Board of Directors has given it authority to launch a normal course issuer bid ("NCIB") in order purchase a maximum aggregate number of 5,440,950 Common Shares (the "Shares"), being: approximately 5% of the issued and outstanding Shares as of March 15, 2019.

Under the terms of the share repurchase offer, the Company may, if it deems it advisable, purchase the shares through NYSE American facilities from time to time over the next 12 years. month. These purchases can begin on March 25, 2019 and will close on the date closest to the date on which the purchases under the offer were made or March 24, 2020. All shares will be purchased for cancellation. The price that the Company will pay for these shares will be the prevailing market price at the time of the acquisition.

The Board of Directors believes that the purchase of its shares would be an appropriate use of the Company's funds, in the best interests of the Corporation and its shareholders, when the underlying value of the Corporation is not reflected in the share price, other capital allocation priorities. In addition, purchases should benefit all individuals who hold shares by increasing the underlying value of their interest in the Company if the shares being redeemed are canceled.

All amounts are in United States dollars unless otherwise indicated.

Company Profile:

golden star is an established gold mining company that owns and operates the Wbada and Prestea underground mines at Ghana, West Africa. Listed on NYSE American, Toronto Stock Exchange and Ghana Stock Exchange, golden star aims to generate strong margins and free cash flow from its two high-grade, low-cost underground mines. Gold production forecast for 2019 is 220,000 to 240,000 ounces, at a cash operating cost per ounce.¹ from $ 620 to $ 680. As winner of the PDAC 2018 Environmental and Social Responsibility Award, golden star is committed to leaving a positive and lasting legacy in its areas of operation.

Non-GAAP financial measures

In this press release, we use the term "cash cost per ounce". This term should be considered a non-GAAP financial measure as defined in applicable Canadian and Canadian laws. United States securities laws and should not be considered in isolation or as a substitute for performance measures prepared in accordance with International Financial Reporting Standards ("IFRS"). The "Cash Operating Cost Per ounce" for a period is the cost of sales, excluding depreciation and amortization, of the period, net of royalties, the disbursement component of the net realizable value adjustments of metal inventories and termination benefits. excluding pre-commercial production) during the period. This measure is not representative of all cash expenditures because it does not include income tax payments or interest charges. Changes in many factors, including extraction rates, usage rates, gold content, gold recovery, labor cost, consumables and general and administrative activities mining site may increase or decrease this measure. We believe that this measure is the same as or similar to other gold mining companies, but may not be comparable to measures with the same title in all cases. Please refer to our "Management's Discussion & Analysis of Financial Condition and Results of Operations for the year ended December 31, 2018"for a reconciliation of these non-GAAP financial measures to the nearest IFRS measure.

Statements concerning forward-looking information

Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Industry Litigation Reform Act, 1995 and "forward-looking information" within the meaning of Canadian securities laws. As a general rule, forward-looking information and statements can be identified using the following prospective terminology: "plans", "expected", "expected", "budget", "planned", "estimates", "forecasts" , "intends", "anticipates", "believes" or variations of such words and expressions (including negative or grammatical variations) or statements that certain acts, events or results "may", " could "," could "," could "or" be taken "," will occur "or" will be reached "or its negative connotation. Forward-looking information and statements include, but are not limited to, statements and information regarding the total number of shares to be purchased under the Offer; and the expectation that the purchase under the offer will benefit all people who continue to hold shares. Investors are cautioned that forward-looking statements and information are inherently uncertain and involve risks, badumptions and uncertainties that could result in a material difference between the facts and their reality. There can be no badurance that future developments affecting the Company will be those anticipated by management. We expect estimates to change as new information is received. Although we may choose to update these estimates at any time, we do not undertake estimates at any given time or in response to a particular event.

SOURCE Golden Star Resources Ltd.

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