and Ashanti Royalty to Golden Star for US$3.4 Million and Sliding Scale Royalty

MONTREAL, CANADA--Birim Goldfields Inc. (BGI: TSX) ("Birim" or "the Company") is pleased to announce that it has entered into agreements with Golden Star Resources Ltd. ("Golden Star") pursuant to which Golden Star will acquire and will settle Ashanti Goldfields Company Limited's ("Ashanti") royalty commitments tied to the Mampon gold deposit and acquire Birim's surrounding Dunkwa property for a cash payment of US$3.4 million to Birim and a sliding-scale net smelter royalty varying between 2.0% and 3.5% dependent upon the gold price.

The US$3.4 million payment represents an advanced royalty on only the first 200,000 ounces of gold recovered from the Mampon deposit and is payable to Birim upon the closing of the transaction, set for no later than July 4th, 2003. All Mampon gold production exceeding 200,000 ounces and any additional production from other deposits on the Dunkwa property will be subject to the following net smelter return (NSR) schedule:

 Average Quarterly Gold Price (London P.M. Gold Fix)   Royalty 
 --------------------------------------------------------------
 Equal to and less than $300/oz                            2.0% 
 Greater than $300/oz and equal and less than $350/oz      2.5% 
 Greater than $350/oz and equal and less than $400/oz      3.0% 
 Greater than $400/oz                                      3.5% 

"The proposed deal with Golden Star allows Birim shareholders to quickly realize value from the Dunkwa property, including any production upside, without incurring the ongoing capital or operating costs" said Mr. Denis Simoneau, President of Birim. "Further, the sliding scale NSR provides shareholders with leveraged exposure to increases in the gold price. Golden Star is focused on maximizing the production potential from the Mampon deposit as well as satellite deposits in the area which should result in a steady flow of royalty income to Birim over the coming years."

Mr. Simoneau continued: "Golden Star intends to develop an open pit mining operation on both the Mampon and adjacent Aboronye deposits, trucking the ore to its Bogoso oxide plant located 35 kilometers to the southwest. Concurrent with the initial mining of the oxide mineralization, Golden Star will examine the economics of mining the significant sulphide mineralization at Mampon, which had been identified by Birim's prior drilling, to a depth of 325 metres. Results from diamond drilling the sulphide zone included 9.23 grams per tonne Au over 16.3 metres at a vertical depth of 245 metres and 10.67 grams per tonne over 7.7 metres at a vertical depth of 325 metres. The sulphide mineralisation remains open at depth.

Golden Star plans to upgrade the existing road between its Bogoso milling facility and the Mampon deposit that will traverse a substantial portion of the Dunkwa property. Satellite deposits of auriferous oxide mineralization on the Dunkwa property will be systematically re-examined and mined if the economics warrant. Birim has identified a number of such mineralized bodies including the Opon prospect where surface trenching, later confirmed by diamond drilling, returned 1.43 grams per tonne gold over 152 metres, and the Mansiso prospect where small-scale miners were active during the course of last year. Grab samples collected by Birim at Mansiso returned values as high as 88 grams per tonne gold.

Upon the completion of the proposed transaction and re-imbursement of the convertible debenture owed to Ashanti, Birim will have approximately C$6.0 million in cash and no debt. In addition, Birim anticipates a regular stream of royalty income, starting as early as in the first year and payable on a quarterly basis, from the production from the Dunkwa property. The Company will continue to focus its exploration efforts on it large Bui Property in Ghana, where more than a dozen targets have been defined, five of which are at the drill ready stage. As well, the Company will continue to evaluate other opportunities to provide value to shareholders.

Birim Goldfields Inc. is a mining exploration firm whose mission is to explore and develop gold deposits in Ghana, West Africa. The Company has 35.1 million common shares outstanding.

FOR FURTHER INFORMATION PLEASE CONTACT: Birim Goldfields Inc. Denis Simoneau President
(514) 393-8611 or 1-800-721-8611 (514) 393-1158
(FAX)
Email: info@birim.com
Web site: www.birim.com