Consolidated Financial Statements
For the Years Ended December 31, 2020 and December 31, 2019
MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL STATEMENTS
The accompanying consolidated financial statements of Golden Star Resources Ltd. (the “Company”) and all information in this
financial report are the responsibility of the Company's management ("Management"). The consolidated financial statements
have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting
Standards Board ("IFRS") and, where appropriate, include Management’s best estimates and judgments.
Management maintains a system of internal control designed to provide reasonable assurance that assets are safeguarded from
loss or unauthorized use, and that financial information is timely and reliable. However, any system of internal control over
financial reporting, no matter how well designed and implemented, has inherent limitations and may not prevent or detect all
misstatements.
The Board of Directors is responsible for ensuring that Management fulfills its responsibilities for financial reporting and is
ultimately responsible for reviewing and approving the consolidated financial statements.
The Board carries out this responsibility principally through its Audit Committee. The Board of Directors appoints the Audit
Committee, and all of its members are independent directors. The Audit Committee meets periodically with Management and
the Auditors to review internal controls, audit results, accounting principles and related matters. The Board of Directors
approves the consolidated financial statements on recommendation from the Audit Committee.
PricewaterhouseCoopers LLP ("PwC" or "Auditors"), an independent firm of Chartered Professional Accountants, was
appointed by the shareholders at the last annual meeting to examine the consolidated financial statements and provide an
independent audit opinion. PricewaterhouseCoopers LLP has full and free access to the Audit Committee.
"Andrew Wray" "Paul Thomson"
Andrew Wray Paul Thomson
President and Chief Executive Officer Executive Vice President and Chief Financial Officer
London, England
February 24, 2021
Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of Golden Star Resources Ltd.
Opinions on the Financial Statements and Internal Control over Financial Reporting
We have audited the accompanying consolidated balance sheets of Golden Star Resources Ltd. and its
subsidiaries (together, the Company) as of December 31, 2020 and 2019, and the related consolidated
statements of operations and comprehensive loss, cash flows and changes in shareholders' equity for the
years then ended, including the related notes (collectively referred to as the consolidated financial
statements). We also have audited the Company's internal control over financial reporting as of December
31, 2020, based on criteria established in Internal Control - Integrated Framework (2013) issued by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO).
In our opinion, the consolidated financial statements referred to above present fairly, in all material
respects, the financial position of the Company as of December 31, 2020 and 2019, and its financial
performance and its cash flows for the years then ended in conformity with International Financial
Reporting Standards as issued by the International Accounting Standards Board. Also in our opinion, the
Company maintained, in all material respects, effective internal control over financial reporting as of
December 31, 2020, based on criteria established in Internal Control – Integrated Framework (2013)
issued by the COSO.
Basis for Opinions
The Company's management is responsible for these consolidated financial statements, for maintaining
effective internal control over financial reporting, and for its assessment of the effectiveness of internal
control over financial reporting, included in the accompanying Company's internal control over financial
reporting. Our responsibility is to express opinions on the Company’s consolidated financial statements
and on the Company's internal control over financial reporting based on our audits. We are a public
accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB)
and are required to be independent with respect to the Company in accordance with the U.S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission and
the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that
we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial
statements are free of material misstatement, whether due to
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