Golden Star Resources Ltd. ("Golden Star" or the "Company") (TSX: GSC)(NYSE Amex: GSS)(GSE: GSR) today announced that it has priced an offering (the "Offering") of 20,000,000 common shares at a price of US$3.75 per share for gross proceeds of US$75,000,000. The Company has granted the underwriters an option, exercisable for a period of 30 days following the closing of the Offering, to purchase up to 3,000,000 additional common shares at a price of US$3.75 per share for additional gross proceeds of US$11,250,000, to cover over-allotments, if any. This represents a 7.9% discount to the 5-day volume-weighted average price on the NYSE Amex. The Offering was sold by a syndicate of underwriters led by BMO Capital Markets and including Wellington West Capital Markets Inc. and Macquarie Capital Markets Canada Ltd.

The net proceeds of the Offering will be used to continue with committed capital projects, exploration activities and for general corporate purposes. The Offering is expected to close on or about December 17, 2009 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE Amex.

A copy of the amended and restated short form prospectus relating to the offering of common shares may be obtained upon request by contacting BMO Capital Markets, Distribution Department, 1 First Canadian Place, B2 Level, Toronto, Ontario, M5X 1H3 (tel: 416-363-6996 x224), and a copy of the U.S. prospectus supplement may be obtained upon request by contacting BMO Capital Markets Corp., Attention: Lori Begley, 3 Times Square, 27th Floor, New York, New York, 10036 (tel: 212-885-4039).

About Golden Star Resources

Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 237 million shares outstanding.

Contacts: Golden Star Resources Ltd. Bruce Higson-Smith Vice President Corporate Development 1-800-553-8436 Golden Star Resources Ltd. Anne Hite Investor Relations Manager 1-800-553-8436

SOURCE: GOLDEN STAR RESOURCES LTD.