Golden River Resources Corporation sells common shares of Acadian Mining Corporation

VICTORIA, Australia, Dec. 10, 2012 /CNW/ - This press release is issued by Golden River Resources Corporation ("Golden River") pursuant to the early warning requirements of National Instrument 62-103 with respect to common shares ("Common Shares") of Acadian Mining Corporation ("Acadian"), a reporting issuer in certain jurisdictions in Canada. In accordance with such early warning requirements, Golden River is required to report certain information in respect of its holdings of securities of Acadian.

Golden River announced today that it has entered into a share purchase agreement ("Agreement") with Chin-Yong Wong ("Wong"), a resident of Singapore, to sell 5,400,000 common shares of Acadian ("Common Shares") representing approximately 9.97% of the issued and outstanding Common Shares, at a price of C$0.11 per Common Share (the "Transfer"). The Transfer was completed on December 10, 2012.

Following the Transfer, Golden River holds 12,027,730 Common Shares representing approximately 22.197% of the issued and outstanding Common Shares. In addition, Golden River holds a convertible debenture of Acadian (the "Debenture") in the principal amount of $420,000. The Debenture is convertible into Common Shares at the option of Golden River at a price of $0.12 per Common Share at any time until June 6, 2014. In the event that the Debenture is fully converted, Golden River will hold a total of 15,527,730 Common Shares, or approximately 26.92% of all issued and outstanding Common Shares as of today's date, calculated on a partially diluted basis assuming conversion of the Debenture only.

Further details may be obtained from the Early Warning Report filed on SEDAR by Golden River under Acadian's profile or by contacting Peter Lee, Director, Chief Financial Officer and Secretary of Golden River, at [phone].

SOURCE: GOLDEN RIVER RESOURCES CORPORATION

Peter Lee
Director, Chief Financial Officer and Secretary
Golden River
[phone]

Golden River Resources Corporation
580 St. Kilda Road, Level 8
Melbourne 3004
Victoria, Australia