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Golden Star Announces Receipt of Environmental and Mining Permits for Prestea Mine

Golden Star Resources Ltd. (GSC.TO) announced it has received the environmental and mining permits for Phase I development of the Prestea Underground mine in Ghana.

"These permits allow the Company to commence initial development in the Central Shaft area in order to achieve early production and advance our infrastructure, with the long-term goal of transforming Prestea Underground into a modern, mechanized mine and a key contributor to lower cost gold production going forward," said Sam Coetzer, President and CEO.

"We are preparing for early production from existing infrastructure and remnant stopes in the Central Shaft area as allowed by these permits. We are also proceeding with a feasibility study on the development of the West Reef area, completion of which is expected in the first half of 2013."

GSC shares gained four cents to $1.72 on volume of nearly 116,000.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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