Document:

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                                                                Exhibit 10.38(c)

                             EMPLOYMENT AGREEMENT

     THIS AGREEMENT, made as of this 5th day of October, 1999 (the "Agreement")
                                                                    ---------
and effective with a starting date of November 1, 1999 (the "Effective Date"),
                                                             --------------
by and between GOLDEN STAR RESOURCES LTD. (the "Company") and PETER JOHN
                                                -------
LUCKHURST BRADFORD (the "Employee").
                         --------

     WHEREAS the Company wishes to have the benefit of the Employee's services;
and

     WHEREAS the Employee wishes to be so employed.

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
herein contained, THE PARTIES HERETO AGREE AS FOLLOWS:

1.   Employment
     ----------

a)   The Company hereby employs the Employee, and the Employee hereby agrees, to
render exclusive and full-time services to the Company as President and Chief
Executive Officer of the Company from the Effective Date on the terms and
conditions set forth in this Agreement and subject to the direction of the Board
of Directors of the Company; provided that the Employee shall have the right to
spend a reasonable amount of time up and until January 1, 2000, to unwind his
relationship with Anvil Mining NL, his former employer. In connection therewith,
the Employee shall perform such duties commensurate with such office as he shall
reasonably be directed by the Board of Directors of the Company to perform.

b)   The Employee shall be principally employed at the Company's principal place
of business in the City of Denver in the State of Colorado; provided that the
Employee shall be principally employed at the offices of Bogoso Gold Limited in
Ghana until the Employee has obtained the necessary authorizations from the
United States Department of Justice, Immigration and Naturalization Service
and/or other competent regulatory authorities to work in the United States of
America. The Employee acknowledges that he will be required from time to time to
travel and perform his duties in other locations and the Employee shall
undertake such reasonable amount of travel away from his principal place of
employment as may reasonably be necessary for the business of the Company.

2.   Term of Employment
     ------------------

The Agreement shall become effective on the Effective Date and continue in full
force and effect indefinitely from year to year, unless either party give prior
written notice to the other of its election to terminate the Agreement, as
herein provided in section 5.

3.   Services
     --------

a)   The Employee shall devote his entire business time, best efforts, skills
and attention to the Company in fulfilling his duties and responsibilities
hereunder faithfully and diligently; provided that the Employee shall have the
right to spend a reasonable amount of time up and until January 1, 2000, to
unwind his relationship with Anvil Mining NL, his former employer.

b)   The Employee shall promptly report to the Chairman and to the Compliance
Officer of the Company all matters and transactions of which he is aware that
may result in a violation of laws, regulations or the Company's policies or in
which a potential conflict of interest between the Employee and the Company may
arise and the Employee shall not proceed with such matters or transactions until
the Board's approval thereof is obtained. The Employee shall similarly report
any violations or potential conflict of interest he is aware of between any
employee of the Company or its subsidiaries and the Company.  For purposes of
clarification, this subsection is not intended to limit in any way the
Employee's other fiduciary obligations to the Company which may arise in law or
equity.

4.   Compensation and Benefits
     -------------------------

a)   For all services to be rendered by the Employee hereunder, the Company
shall pay to the Employee, and the Employee hereby accepts, a minimum base
salary (the "Salary") of  US$175,000 per annum. The Salary may be
             ------

                                                                               1
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increased by the Board of Directors of the Company during the term of the
Agreement and, when increased, such higher amount shall then be the minimum base
annual salary hereunder; such minimum base annual salary shall not at any given
time be reduced below the highest minimum base annual salary fixed from time to
time by the Board of the Directors of the Company. The Salary shall be payable
in equal semi-monthly installments in arrears. From the Effective Date until
January 1, 2000, the Employee shall be seconded to Bogoso Gold Limited ("BGL"),
one of the Company's subsidiaries, and the Salary for such period shall be paid
directly by BGL on behalf of the Company.

b)   As an incentive to join the Company, the Employee shall be granted under
the Company's Stock Option Plan on the date hereof a stock option to purchase
600,000 shares of the Company at a price per share equal to the closing price of
the shares on the Toronto Stock Exchange on the business day immediately
preceding the grant of such option. The stock option so granted shall vest as to
one-third of the shares on the Effective Date, as to an additional one-third on
the first anniversary date of the Effective Date and as to the remaining one-
third on the second anniversary date of the Effective Date. In addition, the
Employee shall be entitled to participate in the Company's 1997 Stock Option
Plan (copy of which is attached hereto as Schedule A) or any successor stock
option plan.

c)   The Employee shall be entitled to participate in the Company's Stock Bonus
Plan (a copy of which is attached hereto as Schedule B) or any successor stock
bonus plan. In the next few months, the Board of Directors of the Company will
review the Company's compensation system for senior executive officers to take
into account the fact that, with the completion of the Bogoso acquisition, the
Company is now generating cash flow. The objective of the review will be to
determine whether senior management should receive in the future, in addition or
in lieu of stock bonuses, cash bonuses. The bonuses would be granted on the
basis of individual performance and would be a function of the availability of
cash flow from the Company's operations. The Employee shall be entitled to
participate in the new compensation system when and as adopted by the Board.

d)   The Employee shall be entitled to participate in any and all group
insurance, hospital, major medical and disability benefits, savings or
retirement plans, or other fringe benefits of the Company as established by the
Company from time to time for management personnel; provided that the Employee
                                                    --------
shall have fulfilled all eligibility requirements for such benefits.

e)   The Company may maintain at its option, with the Employee's express consent
which is hereby given, one insurance policy on the life of the Employee in the
amount of US$ 1.0 million, payable to the Company. All premiums and other
charges payable in connection with the establishment and maintenance of said
policy shall be borne by the Company.

f)   The Company shall, subject to approval by the Chairman of the Company,
reimburse the Employee for all reasonable and documented travel, entertainment
and other business expenses actually and properly incurred by him in connection
to his duties hereunder. Expense accounts requesting reimbursements hereunder,
shall be rendered within a reasonable period of time following such expenditure.

g)   The Employee shall be entitled to four weeks of paid vacation during each
year of employment hereunder at such time or times as may be selected by the
Employee, approved by the Chairman, and as are in accordance with the Company's
policies and requirements subject to reasonable operating requirements of the
Company.

h)   The Company shall sponsor the Employee's application for a H-1 visa and
thereafter for a "green card" and pay all reasonable documented expenses,
including, without limitation, legal fees and disbursements, directly related to
such applications.  The application for the H-1 visa shall include the right for
the Employee's wife and children to reside (but not work) in the United States
of America for as long as the Employee remains employed by the Company.

i)   The Company shall reimburse the Employee for up to a maximum of US$20,000
for reasonable documented expenses incurred in relocating from Australia to
Denver. Such expenses may include, without limitation, car rental (for up to one
month), the cost of moving all belongings and household contents from Australia
to the United States of America (the Employee shall obtain a bid from at least
two reputable companies and use the least costly), the costs of storing the
Employee's furniture, the cost of establishing a new house in Denver and the
purchase of certain electric appliances, but shall not include the cost of
disposing of his house or personal cars in

                                                                               2
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Australia. In addition, the Company shall reimburse the Employee for up to a
maximum of US$4,000 for temporary lodging for the Employee and his family when
they relocate to the Denver area. The Company shall reimburse the Employee for
the cost of one set of business class tickets on the airlines of his choice to
bring his family to the Denver area. The Employee shall use his best efforts to
minimize his relocation costs to the United States of America until he has
obtained all necessary permits to work in the United States as President and
Chief Executive Officer of the Company.

j)   The Company shall guarantee for one year from the date of purchase by the
Employee of his principal residence in the State of Colorado for up to a maximum
amount of US$500,000 the performance by the Employee of his obligations under a
loan contracted by the Employee to finance the purchase of such principal
residence; provided that the Company shall have no obligation to guarantee such
obligations if the Employee should be able to obtain credit from a financial
institution in Colorado at normal commercial rates. The obligations of the
Company hereunder shall terminate 60 days after the termination of this
Agreement. The performance by the Employee of his obligations under the
guarantee provided hereunder shall be secured by a second mortgage on the
residence purchased by the Employee as a result of the guaranteed loan and by
any other amounts due under this Agreement.

k)   The Company shall reimburse the Employee for the costs associated with the
installation and operation of one phone line from his principal residence in
Colorado. The phone line shall be used at all times in connection with the
business of the Company or to contact his family while traveling on business for
the Company.

5.   Termination
     -----------

The Agreement may be terminated in the following manner in the specified
circumstances:

a)   By the Company:

     (i)   for cause, immediately upon notice in writing from the Company to the
           ---------
           Employee, in which case the Company shall have no further obligation
           to the Employee other than any compensation and benefits due the
           Employee up to and including the date of termination. For purposes of
           this Agreement, "cause" shall mean:
                            ------

            (aa)  the willful and continued failure of the Employee to perform
                  substantially the Employee's duties with the Company or one of
                  its affiliates (other than any such failure resulting from
                  temporary incapacity due to physical or mental illness), after
                  a demand in writing for substantial performance is delivered
                  to the Employee by the Chairman of the Board of the Company
                  which specifically identifies the manner in which the Board
                  believes that the Employee has not substantially performed the
                  Employee's duties; or

            (bb)  the willful engaging by the Employee in illegal conduct or
                  gross misconduct which is materially injurious to the Company;

     (ii)  without cause, (A) at any time on or prior the 180/th/ day following
           -------------
           the Effective Date, upon (x) the giving of written notice by the
           Company to the Employee and (y) the payment by the Company to the
           Employee in cash or cash equivalent acceptable to the Employee, in a
           lump sum at the time of termination, of an amount equal to the Salary
           and benefits the Employee would have been entitled to receive for a
           period of six months after such termination had the termination not
           occurred, or (B) at any time after the 180/th/ day following the
           Effective Date, upon (x) the giving of written notice by the Company
           to the Employee and (y) the payment by the Company to the Employee in
           cash or cash equivalent acceptable to the Employee, in a lump sum at
           the time of termination, of an amount equal to the Salary and
           benefits the Employee would have been entitled to receive for a
           period of six months after such termination had the termination not
           occurred, plus one additional month of Salary and benefits for each
           additional full month worked for the Company in excess of six months,
           up to and including the date of termination, provided that under no
                                                        --------
           circumstances shall the amount to be paid under this paragraph exceed
           24 months of Salary and benefits;

     (iii) immediately and without notice upon the death of the Employee, in
                                          ------------------------------
           which case the Company shall have no further obligation to the
           Employee's estate or representatives other than any compensation due
           the

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          Employee up to and including the date of death and other than as
          provided in any benefit plans in effect at the date of death which are
          applicable to the Employee;

     (iv) at any time upon 90-day notice in writing from the Company to the
          Employee, if the Employee shall by reason of illness or mental or
          physical disability or incapacity fail for any three consecutive
          calendar months in any calendar year or for six months in the
          aggregate in any two successive calendar years to have performed
          substantially all of his duties under the Agreement, in which case the
          Company shall have no further obligation to the Employee other than
          any compensation and benefits due to the Employee up to and including
          the date of termination. During the 90-day notice period, the Employee
          shall be considered a full-time employee of the Company. The Employee
          shall thereafter be entitled to such other payments as may be due
          under any disability insurance policy of the Company in accordance
          with the terms of such policy; or

     (v)  at any time upon notice in writing from the Company to the Employee,
          if the Employee shall for any reason fail to obtain on or before
          February 29, 2000 (the "Visa Date"), a visa to work in the United
                                  ---------
          States of America as President and Chief Executive Officer of the
          Company, in which case the Company shall have no further obligation to
          the Employee other than (A) any compensation and benefits due to the
          Employee up and including the date of termination, (B) any reasonable
          documented costs (up to a maximum of US$20,000) of relocating the
          Employee and his family from the United States to Australia and (C)
          the obligation to cause the appointment of the Employee as Managing
          Director of BGL under the same terms and for the remainder of the
          period of time provided for in Exhibit A to the Letter addressed by
          James E. Askew to Peter Bradford on August 9, 1999, a copy of which is
          attached as Schedule C hereto; provided, however, that if the
          Company's outside counsel responsible for handling the Employee's visa
          application indicates on or before the Visa Date that it reasonably
          believes that a visa enabling the Employee to work in the United
          States of America as President and Chief Executive officer of the
          Company should be obtained within the next two months from the Visa
          Date, then the Visa Date shall be automatically extended until, but
          not later than, April 31, 1999.

b)   By the Employee:

     (i)  without good reason, upon three months' notice in writing to the
          -------------------
          Company, in which case the Company shall have no further obligation to
          the Employee other than any compensation and benefits due the Employee
          up to and including the date of termination for good reason, at any
                                                      ---------------
          time upon three months' notice in writing, in which case the Company
          shall pay to the Employee in cash or cash equivalent acceptable to
          Employee, in a lump sum at the time of termination, (A) if the
          termination occurs on or prior to the 180/th/ day following the
          Effective Date, the Salary and benefits the Employee would have been
          entitled to receive for a period of six months after such termination
          had the termination not occurred or (B) if such termination occur
          after the 180/th/ day following the Effective Date, the Salary and
          benefits the Employee would have been entitled to receive for a period
          of six months after such termination had the termination not occurred,
          plus one additional month of Salary and benefits for each additional
          full month worked for the Company in excess of six months, up to and
          including the date of termination, provided that under no
                                             --------
          circumstances the amount to be paid under this paragraph shall exceed
          24 months of Salary and benefits;

     (ii) at any time upon notice in writing from the Employee to the Company,
          if the Employee shall for any reason fail through no fault of his own
          to obtain on or before the Visa Date, a visa to work in the United
          States of America as President and Chief Executive Officer of the
          Company, in which case the Company shall have no further obligation to
          the Employee other than (A) any compensation and benefits due to the
          Employee up and including the date of termination, (B) any reasonable
          documented costs (up to a maximum of US$20,000) of relocating the
          Employee and his family from the United States to Australia and (C)
          the obligation to cause the appointment of the Employee as Managing
          Director of BGL under the same terms and for the remainder of the
          period of time provided for in Exhibit A to the Letter addressed by
          James E. Askew to Peter Bradford on August 9, 1999, a copy of which is
          attached as Schedule C hereto; provided, however, that if the
          Company's outside counsel responsible for handling the Employee's visa
          application

                                                                               4
<PAGE>

          indicates on or before the Visa Date that it reasonably believes that
          a visa enabling the Employee to work in the United States of America
          as President and Chief Executive officer of the Company should be
          obtained within the next two months from the Visa date, then the Visa
          Date shall be automatically extended until, but not later than, April
          31, 1999; or

     (iii) The Company shall be deemed to have given the Employee "good reason"
                                                                   -----------
           for terminating his employment if it shall have defaulted in its
           obligation to the Employee with respect to the payment of
           compensation and provision of benefits when, as and if due within 10
           business days of written notice to the Company by the Employee that
           such payment was not made when due.

c)   Upon any termination of employment as set forth in this Section 5, the
Employee shall, unless otherwise advised by the Company, do the following:

     (i)   immediately resign all offices held (including directorships, if any)
           in the Company (and any subsidiary company or other affiliated
           company of the Company) and except as provided in this Agreement, the
           Employee shall not be entitled to receive any additional severance
           payment or additional compensation for loss of office or otherwise by
           reason of the resignation. If the Employee fails to resign as
           described herein, the Company is irrevocably authorized to appoint
           any other person in his name and on his behalf to sign any documents
           or do any things necessary or requisite to give effect to such
           resignation; and

     (ii)  promptly turn over to the Company all books of account, computer
           files, maps, records, reports and other documents, materials and
           property used by the Employee in the performance of his duties or
           otherwise, belonging to the Company.

d)   All amounts payable under this Section 5 shall, at the option of the
Company, be delivered to the Employee personally or be mailed to the Employee at
the address referred to in Section 10(d).

6.   Change of Control
     -----------------

If the Employee's employment by the Company is terminated upon the occurrence of
a Change in Control (as hereinafter defined) of the Company, then the Employee
shall be entitled to receive the same Salary and benefits he would have been
entitled to receive for a period of 24 months had the Change of Control not
occurred and such amount shall be payable in a lump sum at the date of
termination. For purposes of this Agreement a Change in Control means (i) the
acquisition by any person of a sufficient number of the outstanding voting
securities of the Company to materially affect the control of the Company; (ii)
a majority of the board of Directors of the Company shall be individuals who are
not nominated by the Board of Directors of the Company; (iii) the Company is
merged or consolidated with any person (and the Company is not the surviving
corporation); (iv) all or substantially all of the assets of the Company are
acquired by another person; or (v) the Employee's office, station or duties as
provided for in this Agreement are materially reduced or adversely changed as a
result of the occurrence of one of the events mentioned above in this paragraph
in (i), (ii), (iii) and (iv).

7.   Acceleration and Vesting of Stock Options
     -----------------------------------------

All of the stock options granted to the Employee under the stock option plan of
the Company or any of its subsidiary companies shall become immediately
exercisable and vested and shall remain exercisable for a period of twelve
months from the date of termination of the Employee if after the first
anniversary of the Effective Date (i) the Board of Directors of the Company
shall fail at any given time to elect the Employee as President and Chief
Executive Officer or to an executive position possessing comparable duties and
responsibilities, (ii) should the Company discharge the Employee from his right
and duty to perform services hereunder at any time without cause or (iii) should
the Employee terminate his employment for good reason. Notwithstanding any of
the foregoing, under no circumstances shall an option remain exercisable for
more than 10 years after the date it was granted.

                                                                               5
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8.   Confidentiality and Restrictive Covenant
     ----------------------------------------

The Employee acknowledges that as a condition of his employment he is required
to maintain the confidentiality of the Company's affairs and, accordingly,
agrees to execute a Confidentiality and Restrictive Covenant Agreement in the
form attached hereto as Schedule D.

9.   Business Conduct Policy and Policy for Public Disclosure
     --------------------------------------------------------

The Employee acknowledges receipt of the Business Conduct Policy and the Policy
for Public Disclosure and Dealing with the Financial Investment Community in the
form attached hereto as Schedule E and, having read and understood both
policies, agrees to abide by them in their entirety.  The Company shall promptly
notify the Employee of any modifications to these policies.

10.  Trading in Company Securities
     -----------------------------

The Employee acknowledges he may not purchase or sell any security of the
Company (directly or indirectly through accounts which he controls or in which
he has an interest) unless such purchase or sale has been approved in writing by
the Compliance Officer of the Company, and agrees that before purchasing or
selling any such Company security, he will seek his prior approval of such
transaction, such approval not to be unreasonably withheld.

11.  Miscellaneous
     -------------

a)   The failure to insist upon strict compliance with any of the terms,
covenants or conditions of this Agreement shall not be deemed a waiver of such
terms, covenants or conditions and the waiver by either party of a breach of any
provision of this Agreement shall not operate as or be construed as a waiver of
any subsequent breach thereof.

b)   Should any provision or provisions of this Agreement be illegal or not
enforceable, it or they shall be considered separate and severable from this
Agreement and its remaining provisions shall remain in force and be binding upon
the parties as though the provision or provisions had never been included.

c)   This Agreement shall be governed by and construed in accordance with the
laws of the State of Colorado, and each of the parties attorns to the non-
exclusive jurisdiction of the courts of the State of Colorado.

d)   Any and all notices referred to herein shall be in writing and may be
delivered by mail, by telecopy or by hand. Notice shall be deemed to be given
five days after mailing, if mailed in the United States by registered mail, on
the date of actual receipt if given by telecopy, or on the date of delivery, if
delivered by hand.

Address for mailing, telecopy or delivery by hand shall be as follows:

     .    To the Employee:

               16 Kingsall Road
               Attadale 6156
               Australia

     .    To the Company:

               1660 Lincoln Street, Suite 3000
               Denver, Colorado 80264-3001
               U.S.A.
               Attention of the Secretary of the Company

or such other address as either party may from time to time designate in
writing.

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<PAGE>

e)   In the event of any difference of opinion or dispute between the Employee
and the Company with respect to the construction or interpretation of this
Agreement or the alleged breach thereof which cannot be settled amicably by
agreement of the parties, such dispute shall be submitted to and determined by
arbitration in the city of Denver, Colorado in accordance with the rules of the
American Arbitration Association, and judgment upon the award shall be final,
binding, and conclusive upon the parties and may be entered in the highest
court, state or federal, having jurisdiction.

f)   The rights and obligations of the Company under this Agreement are with the
prior written consent of the Employee assignable by the Company to any affiliate
of the Company, to any successor by merger to the Company and to any person that
acquires all or substantially all of the assets and business of the Company as a
going concern.  This Agreement shall be binding upon and shall enure to the
benefit of the Company and its successors and assigns, and the Employee and his
legal representatives, heirs, legatees and distributees, but shall not be
assignable by the Employee.

g)   This Agreement supersedes, except for a letter of clarification of even
date herewith, any and all prior written or oral employment agreements between
the Company and the Employee and constitutes the entire agreement between the
parties hereto.  No modification, amendment or waiver of any of the provisions
of this Agreement shall be effective unless in writing and signed by both
parties hereto.

h)   This Agreement may be executed by the parties hereto in counterparts, each
of which shall be deemed to be an original, but all such counterparts shall
together constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of
the day and year appearing on page one of this Agreement.

GOLDEN STAR RESOURCES LTD.

By:    ___/s/ Robert Stone

Name:  Robert Stone

Title:  Chairman of the Board

___/s/ Peter Bradford
Peter Bradford

                                                                               7<PAGE>

                                                                Exhibit 10.39(c)

                               OPTION AGREEMENT
                               ----------------

     THIS AGREEMENT is entered into effective as of the 15th day of June, 1999
(the "Date of Grant")

BETWEEN:

          GOLDEN STAR RESOURCES LTD., a corporation created by amalgamation
          under the laws of Canada and having its registered office at 885 W.
          Georgia Street, 19th Floor, Vancouver, BC, Canada V6C 3H4

          (hereinafter called the "Company")

                                                               OF THE FIRST PART

AND:      JAMES E. ASKEW, residing at 1299 Gilpin Street, Suite 18, Denver, CO
          80218

          (hereinafter called the "Optionee")

                                                              OF THE SECOND PART

WHEREAS:

A.   The Company is the registered and beneficial owner of certain Class B
     common shares (the "Class B Shares") in Guyanor Ressources S.A.
     ("Guyanor"), a "societe anonyme" constituted under the laws of France;

B.   Guyanor is a controlled subsidiary of the Company and the Company will
     directly benefit from the business success of Guyanor;

C.   In consideration of the services rendered by the Optionee to the Company
     and to Guyanor, the Company desires to grant an option to the Optionee to
     purchase certain Class B Shares of Guyanor from the Company.

     NOW THEREFORE in consideration of the premises and of the covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

1.   Grant
     -----

     The Company hereby grants to the Optionee the option (the "Option") to
     purchase, effective the Date of the Grant and upon and subject to all the
     terms and conditions set forth herein, 5,000 Class B Shares of Guyanor
     which are owned by the Company (collectively, the "Optioned Shares").

2.   Exercise Price
     --------------

     The exercise price for Optioned Shares shall be Cdn$0.45 per share (the
     "Exercise Price").

3.   Exercise
     --------

     The Option shall vest immediately.

     Except as provided in paragraph 5 hereof, the Option may only be exercised
     while the Optionee is at the time of such exercise a director of the
     Company and shall have continuously so served since the grant of the
     Option.

     The Optionee may exercise the Option by giving written notice to the
     Company and delivering to the Company a certified cheque in an amount equal
     to the number of Optioned Shares in respect of which the
<PAGE>

     Option is being exercised multiplied by the Exercise Price. Upon compliance
     with the foregoing but subject to paragraph 8 hereof, the Company agrees to
     do all things necessary in accordance with Guyanor's share transfer
     procedures in order to cause the Optionee to become the beneficial owner of
     such number of Optioned Shares in respect of which the Option is exercised.
     The Optionee acknowledges that, due to French law considerations, Class B
     Shares of Guyanor are not represented by share certificates and the
     Optionee will comply with Guyanor's share registration and transfer
     procedures.

4.   Option Not Transferable
     -----------------------

     The Option is not transferable or assignable except by will or by the laws
     of descent and distribution.

5.   Termination of Option
     ---------------------

     The Option shall terminate, to the extent not previously exercised, upon
     the first to occur of the following dates:

     (a)  at 5:00 p.m. (Denver, Colorado time) on the date which is ten years
          from the Date of Grant, the expiration date of the Option;

     (b)  one year after the Optionee ceases to be a Director or an Officer of
          the Company for any reason; in the event of death, the Option may be
          exercised within such year by the person to whom the Optionee's rights
          under the Option shall pass by the Optionee's will or by the laws of
          descent and distribution to the extent that the Optionee was entitled
          to exercise the Option at his death.

6.   Adjustments in Shares
     ---------------------

     The Option confers upon the Optionee the option to purchase Class B Shares
     as they are constituted at the Date of Grant.  If prior to the exercise of
     the Option Guyanor is required under French law to make adjustments in the
     value of its Class B Shares, the Company agrees that it will make
     corresponding adjustments to the number of Optioned Shares or the Exercise
     Price.

7.   Professional Advice
     -------------------

     The acceptance and exercise of the Option and the sale of the Optioned
     Shares issued pursuant to the exercise of the Option may have consequences
     under applicable tax and securities laws which may vary depending on the
     individual circumstances of the Optionee.  Accordingly, the Optionee
     acknowledges that he has been advised to consult his personal legal and tax
     advisor in connection with this Agreement and his dealings with respect to
     the Option and the acquisition of the Optioned Shares from the Company.

8.   Regulatory Approvals
     --------------------

     The Option shall be subject to any necessary approval of and acceptance by
     any stock exchange on which the Optioned Shares are listed and any other
     regulatory authority having jurisdiction over the Company or Guyanor.  The
     Optionee acknowledges that the grant of the Option by the Company to the
     Optionee and the transfer of the Optioned Shares by the Company to the
     Optionee upon any exercise of the Option are subject to applicable
     securities laws and regulations.

     The Optionee further acknowledges that such Option grant and any transfer
     of Optioned Shares are subject to appropriate exemptions from the
     registration and prospectus requirements of such applicable securities laws
     and regulations being available to the Company and no prospectus or
     registration statement having to be filed by the Company.  To the extent
     Canadian securities laws are applicable, the Company agrees to apply to
     relevant Canadian securities regulatory authorities for any necessary order
     exempting the Company from applicable Canadian registration and prospectus
     requirements and/or to file with relevant securities regulatory authorities
     any necessary notices of intention to sell.  The Optionee agrees to comply
     with any conditions of exemptions or exemption orders from applicable
     registration and prospectus requirements for the Option grant, any transfer
     of Optioned Shares from the Company to the Optionee and
<PAGE>

     any resale of the Optioned Shares by the Optionee, and acknowledges and
     agrees to any time delays or hold periods that may be required in
     connection with the use of or reliance on such applicable exemptions or
     exemption orders.

     Where necessary to effect exemption from registration or distribution of
     the Optioned Shares under securities laws applicable to the securities of
     the Guyanor, the Optionee shall be required, upon the acquisition of any
     Optioned Shares pursuant to this Option to acquire the Shares with
     investment intent (i.e., for investment purposes) and not with a view to
     their distribution, and the Board of Directors of the Company may require
     the Optionee to sign an undertaking to that effect in a form acceptable to
     the Board of Directors.  The Board of Directors may take such other action
     or require such other action or agreement by the Optionee as may from time
     to time be necessary to comply with applicable securities laws.  If for any
     reason exemptions from or exemption orders relating to applicable
     registration and prospectus requirements under all relevant securities laws
     are not available to the Company in connection with the Option grant and
     any transfer of Optioned Shares, the Company will notify the Optionee as
     soon as it is aware of the same and the Option will be null and void and
     this Agreement will have no further force or effect.

9.   Notices
     -------

     Any notice to be given hereunder shall be deemed to have been well and
     sufficiently given if mailed by prepaid registered mail, telexed,
     telecopied, telegraphed or delivered to the parties at the addresses
     specified above or at such other address as each party may from time to
     time direct in writing.  Any such notice shall be deemed to have been
     received if mailed, telexed, telecopied, or telegraphed, forty-eight hours
     after the time of mailing, telexing, telecopying or telegraphing and if
     delivered, upon delivery.  If normal mail service is interrupted by a labor
     dispute, slowdown, strike, force majeure, or other cause, a notice sent by
     mail shall not be deemed to be received until actually received, and the
     party giving such notice shall use such other service as may be available
     to ensure prompt delivery or shall deliver such notice.

10.  Governing Law
     -------------

     This Agreement shall be construed and enforced in accordance with the laws
     of the Province of British Columbia and the Federal laws of Canada
     applicable therein.

11.  Time of the Essence
     -------------------

     Time shall be of the essence in the performance of obligations under this
     Agreement.

12.  Entire Agreement
     ----------------

     This Agreement supersedes all prior and contemporaneous oral and written
     statements and representations and contains the entire agreement between
     the parties with respect to the Option.

     IN WITNESS WHEREOF the parties have executed these presents as of the day
and the year first above written.

GOLDEN STAR RESOURCES LTD.

By:  ___/s/ Louis Peloquin
     LOUIS PELOQUIN
     VICE PRESIDENT, GENERAL COUNSEL

     ___/s/ James E. Askew
     JAMES E. ASKEW
<PAGE>

                               OPTION AGREEMENT
                               ----------------

     THIS AGREEMENT is entered into effective as of the 15th day of June, 1999
(the "Date of Grant")

BETWEEN:

          GOLDEN STAR RESOURCES LTD., a corporation created by amalgamation
          under the laws of Canada and having its registered office at 885 W.
          Georgia Street, 19th Floor, Vancouver, BC, Canada V6C 3H4

          (hereinafter called the "Company")

                                                               OF THE FIRST PART

AND:      DAVID FAGIN, residing at 33 Glenmoor Drive, Englewood, CO, 80110

          (hereinafter called the "Optionee")

                                                              OF THE SECOND PART

WHEREAS:

A.   The Company is the registered and beneficial owner of certain Class B
     common shares (the "Class B Shares") in Guyanor Ressources S.A.
     ("Guyanor"), a "societe anonyme" constituted under the laws of France;

B.   Guyanor is a controlled subsidiary of the Company and the Company will
     directly benefit from the business success of Guyanor;

C.   In consideration of the services rendered by the Optionee to the Company
     and to Guyanor, the Company desires to grant an option to the Optionee to
     purchase certain Class B Shares of Guyanor from the Company.

     NOW THEREFORE in consideration of the premises and of the covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

1.   Grant
     -----

     The Company hereby grants to the Optionee the option (the "Option") to
     purchase, effective the Date of the Grant and upon and subject to all the
     terms and conditions set forth herein, 5,000 Class B Shares of Guyanor
     which are owned by the Company (collectively, the "Optioned Shares").

2.   Exercise Price
     --------------

     The exercise price for Optioned Shares shall be Cdn$0.45  per share (the
     "Exercise Price").

3.   Exercise
     --------

     The Option shall vest immediately.

     Except as provided in paragraph 5 hereof, the Option may only be exercised
     while the Optionee is at the time of such exercise a director of the
     Company and shall have continuously so served since the grant of the
     Option.

     The Optionee may exercise the Option by giving written notice to the
     Company and delivering to the Company a certified cheque in an amount equal
     to the number of Optioned Shares in respect of which the
<PAGE>

     Option is being exercised multiplied by the Exercise Price. Upon compliance
     with the foregoing but subject to paragraph 8 hereof, the Company agrees to
     do all things necessary in accordance with Guyanor's share transfer
     procedures in order to cause the Optionee to become the beneficial owner of
     such number of Optioned Shares in respect of which the Option is exercised.
     The Optionee acknowledges that, due to French law considerations, Class B
     Shares of Guyanor are not represented by share certificates and the
     Optionee will comply with Guyanor's share registration and transfer
     procedures.

4.   Option Not Transferable
     -----------------------

     The Option is not transferable or assignable except by will or by the laws
     of descent and distribution.

5.   Termination of Option
     ---------------------

     The Option shall terminate, to the extent not previously exercised, upon
     the first to occur of the following dates:

     (a)  at 5:00 p.m. (Denver, Colorado time) on the date which is ten years
          from the Date of Grant, the expiration date of the Option;

     (b)  one year after the Optionee ceases to be a Director of the Company for
          any reason; in the event of death, the Option may be exercised within
          such year by the person to whom the Optionee's rights under the Option
          shall pass by the Optionee's will or by the laws of descent and
          distribution to the extent that the Optionee was entitled to exercise
          the Option at his death.

6.   Adjustments in Shares
     ---------------------

     The Option confers upon the Optionee the option to purchase Class B Shares
     as they are constituted at the Date of Grant.  If prior to the exercise of
     the Option Guyanor is required under French law to make adjustments in the
     value of its Class B Shares, the Company agrees that it will make
     corresponding adjustments to the number of Optioned Shares or the Exercise
     Price.

7.   Professional Advice
     -------------------

     The acceptance and exercise of the Option and the sale of the Optioned
     Shares issued pursuant to the exercise of the Option may have consequences
     under applicable tax and securities laws which may vary depending on the
     individual circumstances of the Optionee.  Accordingly, the Optionee
     acknowledges that he has been advised to consult his personal legal and tax
     advisor in connection with this Agreement and his dealings with respect to
     the Option and the acquisition of the Optioned Shares from the Company.

8.   Regulatory Approvals
     --------------------

     The Option shall be subject to any necessary approval of and acceptance by
     any stock exchange on which the Optioned Shares are listed and any other
     regulatory authority having jurisdiction over the Company or Guyanor.  The
     Optionee acknowledges that the grant of the Option by the Company to the
     Optionee and the transfer of the Optioned Shares by the Company to the
     Optionee upon any exercise of the Option are subject to applicable
     securities laws and regulations.

     The Optionee further acknowledges that such Option grant and any transfer
     of Optioned Shares are subject to appropriate exemptions from the
     registration and prospectus requirements of such applicable securities laws
     and regulations being available to the Company and no prospectus or
     registration statement having to be filed by the Company.  To the extent
     Canadian securities laws are applicable, the Company agrees to apply to
     relevant Canadian securities regulatory authorities for any necessary order
     exempting the Company from applicable Canadian registration and prospectus
     requirements and/or to file with relevant securities regulatory authorities
     any necessary notices of intention to sell.  The Optionee agrees to comply
     with any conditions of exemptions or exemption orders from applicable
     registration and prospectus requirements for the Option grant, any transfer
     of Optioned Shares from the Company to the Optionee and
<PAGE>

     any resale of the Optioned Shares by the Optionee, and acknowledges and
     agrees to any time delays or hold periods that may be required in
     connection with the use of or reliance on such applicable exemptions or
     exemption orders.

     Where necessary to effect exemption from registration or distribution of
     the Optioned Shares under securities laws applicable to the securities of
     the Guyanor, the Optionee shall be required, upon the acquisition of any
     Optioned Shares pursuant to this Option to acquire the Shares with
     investment intent (i.e., for investment purposes) and not with a view to
     their distribution, and the Board of Directors of the Company may require
     the Optionee to sign an undertaking to that effect in a form acceptable to
     the Board of Directors.  The Board of Directors may take such other action
     or require such other action or agreement by the Optionee as may from time
     to time be necessary to comply with applicable securities laws.  If for any
     reason exemptions from or exemption orders relating to applicable
     registration and prospectus requirements under all relevant securities laws
     are not available to the Company in connection with the Option grant and
     any transfer of Optioned Shares, the Company will notify the Optionee as
     soon as it is aware of the same and the Option will be null and void and
     this Agreement will have no further force or effect.

9.   Notices
     -------

     Any notice to be given hereunder shall be deemed to have been well and
     sufficiently given if mailed by prepaid registered mail, telexed,
     telecopied, telegraphed or delivered to the parties at the addresses
     specified above or at such other address as each party may from time to
     time direct in writing.  Any such notice shall be deemed to have been
     received if mailed, telexed, telecopied, or telegraphed, forty-eight hours
     after the time of mailing, telexing, telecopying or telegraphing and if
     delivered, upon delivery.  If normal mail service is interrupted by a labor
     dispute, slowdown, strike, force majeure, or other cause, a notice sent by
     mail shall not be deemed to be received until actually received, and the
     party giving such notice shall use such other service as may be available
     to ensure prompt delivery or shall deliver such notice.

10.  Governing Law
     -------------

     This Agreement shall be construed and enforced in accordance with the laws
     of the Province of British Columbia and the Federal laws of Canada
     applicable therein.

11.  Time of the Essence
     -------------------

     Time shall be of the essence in the performance of obligations under this
     Agreement.

12.  Entire Agreement
     ----------------

     This Agreement supersedes all prior and contemporaneous oral and written
     statements and representations and contains the entire agreement between
     the parties with respect to the Option.

     IN WITNESS WHEREOF the parties have executed these presents as of the day
and the year first above written.

GOLDEN STAR RESOURCES LTD.

By:  ___/s/ James E. Askew
     JAMES E. ASKEW
     PRESIDENT AND C.E.O.

     ___/s/ David Fagin
     DAVID FAGIN
<PAGE>

                               OPTION AGREEMENT
                               ----------------

     THIS AGREEMENT is entered into effective as of the 15th day of June, 1999
(the "Date of Grant")

BETWEEN:

          GOLDEN STAR RESOURCES LTD., a corporation created by amalgamation
          under the laws of Canada and having its registered office at 885 W.
          Georgia Street, 19th Floor, Vancouver, BC, Canada V6C 3H4

          (hereinafter called the "Company")

                                                               OF THE FIRST PART

AND:      ERNEST MERCIER, residing at 77 Strathallan Blvd., Toronto, Ontario,
          M5N 1S8 CANADA

          (hereinafter called the "Optionee")

                                                              OF THE SECOND PART

WHEREAS:

A.   The Company is the registered and beneficial owner of certain Class B
     common shares (the "Class B Shares") in Guyanor Ressources S.A.
     ("Guyanor"), a "societe anonyme" constituted under the laws of France;

B.   Guyanor is a controlled subsidiary of the Company and the Company will
     directly benefit from the business success of Guyanor;

C.   In consideration of the services rendered by the Optionee to the Company
     and to Guyanor, the Company desires to grant an option to the Optionee to
     purchase certain Class B Shares of Guyanor from the Company.

     NOW THEREFORE in consideration of the premises and of the covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

1.   Grant
     -----

     The Company hereby grants to the Optionee the option (the "Option") to
     purchase, effective the Date of the Grant and upon and subject to all the
     terms and conditions set forth herein, 5,000 Class B Shares of Guyanor
     which are owned by the Company (collectively, the "Optioned Shares").

2.   Exercise Price
     --------------

     The exercise price for Optioned Shares shall be Cdn.$0.45 per share (the
     "Exercise Price").

3.   Exercise
     --------

     The Option shall vest immediately.

     Except as provided in paragraph 5 hereof, the Option may only be exercised
     while the Optionee is at the time of such exercise a director of the
     Company and shall have continuously so served since the grant of the
     Option.

     The Optionee may exercise the Option by giving written notice to the
     Company and delivering to the Company a certified cheque in an amount equal
     to the number of Optioned Shares in respect of which the
<PAGE>

     Option is being exercised multiplied by the Exercise Price. Upon compliance
     with the foregoing but subject to paragraph 8 hereof, the Company agrees to
     do all things necessary in accordance with Guyanor's share transfer
     procedures in order to cause the Optionee to become the beneficial owner of
     such number of Optioned Shares in respect of which the Option is exercised.
     The Optionee acknowledges that, due to French law considerations, Class B
     Shares of Guyanor are not represented by share certificates and the
     Optionee will comply with Guyanor's share registration and transfer
     procedures.

4.   Option Not Transferable
     -----------------------

     The Option is not transferable or assignable except by will or by the laws
     of descent and distribution.

5.   Termination of Option
     ---------------------

     The Option shall terminate, to the extent not previously exercised, upon
     the first to occur of the following dates:

     (a)  at 5:00 p.m. (Denver, Colorado time) on the date which is ten years
          from the Date of Grant, the expiration date of the Option;

     (b)  one year after the Optionee ceases to be a Director of the Company for
          any reason; in the event of death, the Option may be exercised within
          such year by the person to whom the Optionee's rights under the Option
          shall pass by the Optionee's will or by the laws of descent and
          distribution to the extent that the Optionee was entitled to exercise
          the Option at his death.

6.   Adjustments in Shares
     ---------------------

     The Option confers upon the Optionee the option to purchase Class B Shares
     as they are constituted at the Date of Grant.  If prior to the exercise of
     the Option Guyanor is required under French law to make adjustments in the
     value of its Class B Shares, the Company agrees that it will make
     corresponding adjustments to the number of Optioned Shares or the Exercise
     Price.

7.   Professional Advice
     -------------------

     The acceptance and exercise of the Option and the sale of the Optioned
     Shares issued pursuant to the exercise of the Option may have consequences
     under applicable tax and securities laws which may vary depending on the
     individual circumstances of the Optionee.  Accordingly, the Optionee
     acknowledges that he has been advised to consult his personal legal and tax
     advisor in connection with this Agreement and his dealings with respect to
     the Option and the acquisition of the Optioned Shares from the Company.

8.   Regulatory Approvals
     --------------------

     The Option shall be subject to any necessary approval of and acceptance by
     any stock exchange on which the Optioned Shares are listed and any other
     regulatory authority having jurisdiction over the Company or Guyanor.  The
     Optionee acknowledges that the grant of the Option by the Company to the
     Optionee and the transfer of the Optioned Shares by the Company to the
     Optionee upon any exercise of the Option are subject to applicable
     securities laws and regulations.

     The Optionee further acknowledges that such Option grant and any transfer
     of Optioned Shares are subject to appropriate exemptions from the
     registration and prospectus requirements of such applicable securities laws
     and regulations being available to the Company and no prospectus or
     registration statement having to be filed by the Company.  To the extent
     Canadian securities laws are applicable, the Company agrees to apply to
     relevant Canadian securities regulatory authorities for any necessary order
     exempting the Company from applicable Canadian registration and prospectus
     requirements and/or to file with relevant securities regulatory authorities
     any necessary notices of intention to sell.  The Optionee agrees to comply
     with any conditions of exemptions or exemption orders from applicable
     registration and prospectus requirements for the Option grant, any transfer
     of Optioned Shares from the Company to the Optionee and
<PAGE>

     any resale of the Optioned Shares by the Optionee, and acknowledges and
     agrees to any time delays or hold periods that may be required in
     connection with the use of or reliance on such applicable exemptions or
     exemption orders.

     Where necessary to effect exemption from registration or distribution of
     the Optioned Shares under securities laws applicable to the securities of
     the Guyanor, the Optionee shall be required, upon the acquisition of any
     Optioned Shares pursuant to this Option to acquire the Shares with
     investment intent (i.e., for investment purposes) and not with a view to
     their distribution, and the Board of Directors of the Company may require
     the Optionee to sign an undertaking to that effect in a form acceptable to
     the Board of Directors.  The Board of Directors may take such other action
     or require such other action or agreement by the Optionee as may from time
     to time be necessary to comply with applicable securities laws.  If for any
     reason exemptions from or exemption orders relating to applicable
     registration and prospectus requirements under all relevant securities laws
     are not available to the Company in connection with the Option grant and
     any transfer of Optioned Shares, the Company will notify the Optionee as
     soon as it is aware of the same and the Option will be null and void and
     this Agreement will have no further force or effect.

9.   Notices
     -------

     Any notice to be given hereunder shall be deemed to have been well and
     sufficiently given if mailed by prepaid registered mail, telexed,
     telecopied, telegraphed or delivered to the parties at the addresses
     specified above or at such other address as each party may from time to
     time direct in writing.  Any such notice shall be deemed to have been
     received if mailed, telexed, telecopied, or telegraphed, forty-eight hours
     after the time of mailing, telexing, telecopying or telegraphing and if
     delivered, upon delivery.  If normal mail service is interrupted by a labor
     dispute, slowdown, strike, force majeure, or other cause, a notice sent by
     mail shall not be deemed to be received until actually received, and the
     party giving such notice shall use such other service as may be available
     to ensure prompt delivery or shall deliver such notice.

10.  Governing Law
     -------------

     This Agreement shall be construed and enforced in accordance with the laws
     of the Province of British Columbia and the Federal laws of Canada
     applicable therein.

11.  Time of the Essence
     -------------------

     Time shall be of the essence in the performance of obligations under this
     Agreement.

12.  Entire Agreement
     ----------------

     This Agreement supersedes all prior and contemporaneous oral and written
     statements and representations and contains the entire agreement between
     the parties with respect to the Option.

     IN WITNESS WHEREOF the parties have executed these presents as of the day
and the year first above written.

GOLDEN STAR RESOURCES LTD.

By:  ___/s/ James E. Askew
     JAMES E. ASKEW
     PRESIDENT AND C.E.O.

     ___/s/ Ernest Mercier
     ERNEST MERCIER
<PAGE>

                               OPTION AGREEMENT
                               ----------------

     THIS AGREEMENT is entered into effective as of the 15th day of June, 1999
(the "Date of Grant")

BETWEEN:

          GOLDEN STAR RESOURCES LTD., a corporation created by amalgamation
          under the laws of Canada and having its registered office at 885 W.
          Georgia Street, 19th Floor, Vancouver, BC, Canada V6C 3H4

          (hereinafter called the "Company")

                                                               OF THE FIRST PART

AND:      ROGER MORTON, residing at 9039 Saskatchewan Dr., Edmonton, Alberta,
          T6G 2V2 CANADA

          (hereinafter called the "Optionee")

                                                              OF THE SECOND PART

WHEREAS:

A.   The Company is the registered and beneficial owner of certain Class B
     common shares (the "Class B Shares") in Guyanor Ressources S.A.
     ("Guyanor"), a "societe anonyme" constituted under the laws of France;

B.   Guyanor is a controlled subsidiary of the Company and the Company will
     directly benefit from the business success of Guyanor;

C.   In consideration of the services rendered by the Optionee to the Company
     and to Guyanor, the Company desires to grant an option to the Optionee to
     purchase certain Class B Shares of Guyanor from the Company.

     NOW THEREFORE in consideration of the premises and of the covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

1.   Grant
     -----

     The Company hereby grants to the Optionee the option (the "Option") to
     purchase, effective the Date of the Grant and upon and subject to all the
     terms and conditions set forth herein, 5,000 Class B Shares of Guyanor
     which are owned by the Company (collectively, the "Optioned Shares").

2.   Exercise Price
     --------------

     The exercise price for Optioned Shares shall be Cdn$0.45 per share (the
     "Exercise Price").

3.   Exercise
     --------

     The Option shall vest immediately.

     Except as provided in paragraph 5 hereof, the Option may only be exercised
     while the Optionee is at the time of such exercise a director of the
     Company and shall have continuously so served since the grant of the
     Option.

     The Optionee may exercise the Option by giving written notice to the
     Company and delivering to the Company a certified cheque in an amount equal
     to the number of Optioned Shares in respect of which the
<PAGE>

     Option is being exercised multiplied by the Exercise Price. Upon compliance
     with the foregoing but subject to paragraph 8 hereof, the Company agrees to
     do all things necessary in accordance with Guyanor's share transfer
     procedures in order to cause the Optionee to become the beneficial owner of
     such number of Optioned Shares in respect of which the Option is exercised.
     The Optionee acknowledges that, due to French law considerations, Class B
     Shares of Guyanor are not represented by share certificates and the
     Optionee will comply with Guyanor's share registration and transfer
     procedures.

4.   Option Not Transferable
     -----------------------

     The Option is not transferable or assignable except by will or by the laws
     of descent and distribution.

5.   Termination of Option
     ---------------------

     The Option shall terminate, to the extent not previously exercised, upon
     the first to occur of the following dates:

     (a)  at 5:00 p.m. (Denver, Colorado time) on the date which is ten years
          from the Date of Grant, the expiration date of the Option;

     (b)  one year after the Optionee ceases to be a Director of the Company for
          any reason; in the event of death, the Option may be exercised within
          such year by the person to whom the Optionee's rights under the Option
          shall pass by the Optionee's will or by the laws of descent and
          distribution to the extent that the Optionee was entitled to exercise
          the Option at his death.

6.   Adjustments in Shares
     ---------------------

     The Option confers upon the Optionee the option to purchase Class B Shares
     as they are constituted at the Date of Grant.  If prior to the exercise of
     the Option Guyanor is required under French law to make adjustments in the
     value of its Class B Shares, the Company agrees that it will make
     corresponding adjustments to the number of Optioned Shares or the Exercise
     Price.

7.   Professional Advice
     -------------------

     The acceptance and exercise of the Option and the sale of the Optioned
     Shares issued pursuant to the exercise of the Option may have consequences
     under applicable tax and securities laws which may vary depending on the
     individual circumstances of the Optionee.  Accordingly, the Optionee
     acknowledges that he has been advised to consult his personal legal and tax
     advisor in connection with this Agreement and his dealings with respect to
     the Option and the acquisition of the Optioned Shares from the Company.

8.   Regulatory Approvals
     --------------------

     The Option shall be subject to any necessary approval of and acceptance by
     any stock exchange on which the Optioned Shares are listed and any other
     regulatory authority having jurisdiction over the Company or Guyanor.  The
     Optionee acknowledges that the grant of the Option by the Company to the
     Optionee and the transfer of the Optioned Shares by the Company to the
     Optionee upon any exercise of the Option are subject to applicable
     securities laws and regulations.

     The Optionee further acknowledges that such Option grant and any transfer
     of Optioned Shares are subject to appropriate exemptions from the
     registration and prospectus requirements of such applicable securities laws
     and regulations being available to the Company and no prospectus or
     registration statement having to be filed by the Company.  To the extent
     Canadian securities laws are applicable, the Company agrees to apply to
     relevant Canadian securities regulatory authorities for any necessary order
     exempting the Company from applicable Canadian registration and prospectus
     requirements and/or to file with relevant securities regulatory authorities
     any necessary notices of intention to sell.  The Optionee agrees to comply
     with any conditions of exemptions or exemption orders from applicable
     registration and prospectus requirements for the Option grant, any transfer
     of Optioned Shares from the Company to the Optionee and
<PAGE>

     any resale of the Optioned Shares by the Optionee, and acknowledges and
     agrees to any time delays or hold periods that may be required in
     connection with the use of or reliance on such applicable exemptions or
     exemption orders.

     Where necessary to effect exemption from registration or distribution of
     the Optioned Shares under securities laws applicable to the securities of
     the Guyanor, the Optionee shall be required, upon the acquisition of any
     Optioned Shares pursuant to this Option to acquire the Shares with
     investment intent (i.e., for investment purposes) and not with a view to
     their distribution, and the Board of Directors of the Company may require
     the Optionee to sign an undertaking to that effect in a form acceptable to
     the Board of Directors.  The Board of Directors may take such other action
     or require such other action or agreement by the Optionee as may from time
     to time be necessary to comply with applicable securities laws.  If for any
     reason exemptions from or exemption orders relating to applicable
     registration and prospectus requirements under all relevant securities laws
     are not available to the Company in connection with the Option grant and
     any transfer of Optioned Shares, the Company will notify the Optionee as
     soon as it is aware of the same and the Option will be null and void and
     this Agreement will have no further force or effect.

9.   Notices
     -------

     Any notice to be given hereunder shall be deemed to have been well and
     sufficiently given if mailed by prepaid registered mail, telexed,
     telecopied, telegraphed or delivered to the parties at the addresses
     specified above or at such other address as each party may from time to
     time direct in writing.  Any such notice shall be deemed to have been
     received if mailed, telexed, telecopied, or telegraphed, forty-eight hours
     after the time of mailing, telexing, telecopying or telegraphing and if
     delivered, upon delivery.  If normal mail service is interrupted by a labor
     dispute, slowdown, strike, force majeure, or other cause, a notice sent by
     mail shall not be deemed to be received until actually received, and the
     party giving such notice shall use such other service as may be available
     to ensure prompt delivery or shall deliver such notice.

10.  Governing Law
     -------------

     This Agreement shall be construed and enforced in accordance with the laws
     of the Province of British Columbia and the Federal laws of Canada
     applicable therein.

11.  Time of the Essence
     -------------------

     Time shall be of the essence in the performance of obligations under this
     Agreement.

12.  Entire Agreement
     ----------------

     This Agreement supersedes all prior and contemporaneous oral and written
     statements and representations and contains the entire agreement between
     the parties with respect to the Option.

     IN WITNESS WHEREOF the parties have executed these presents as of the day
and the year first above written.

GOLDEN STAR RESOURCES LTD.

By:  ___/s/ James E. Askew
     JAMES E. ASKEW
     PRESIDENT AND C.E.O.

     ___/s/ Roger Morton
     ROGER MORTON
<PAGE>

                               OPTION AGREEMENT
                               ----------------

     THIS AGREEMENT is entered into effective as of the 15th day of June, 1999
(the "Date of Grant")

BETWEEN:

          GOLDEN STAR RESOURCES LTD., a corporation created by amalgamation
          under the laws of Canada and having its registered office at 885 W.
          Georgia Street, 19th Floor, Vancouver, BC, Canada V6C 3H4

          (hereinafter called the "Company")

                                                               OF THE FIRST PART

AND:      JOHN SABINE, residing at 249 Dunwoody Drive, Oakville, Ontario, Canada
          L6J 4G7

          (hereinafter called the "Optionee")

                                                              OF THE SECOND PART

WHEREAS:

A.   The Company is the registered and beneficial owner of certain Class B
     common shares (the "Class B Shares") in Guyanor Ressources S.A.
     ("Guyanor"), a "societe anonyme" constituted under the laws of France;

B.   Guyanor is a controlled subsidiary of the Company and the Company will
     directly benefit from the business success of Guyanor;

     NOW THEREFORE in consideration of the premises and of the covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

1.   Grant
     -----

     The Company hereby grants to the Optionee the option (the "Option") to
     purchase, effective the Date of the Grant and upon and subject to all the
     terms and conditions set forth herein, 5,000 Class B Shares of Guyanor
     which are owned by the Company (collectively, the "Optioned Shares").

2.   Exercise Price
     --------------

     The exercise price for Optioned Shares shall be Cdn.$0.45 per share (the
     "Exercise Price").

3.   Exercise
     --------

     The Option shall vest immediately.

     Except as provided in paragraph 5 hereof, the Option may only be exercised
     while the Optionee is at the time of such exercise a director of the
     Company and shall have continuously so served since the grant of the
     Option.

     The Optionee may exercise the Option by giving written notice to the
     Company and delivering to the Company a certified cheque in an amount equal
     to the number of Optioned Shares in respect of which the Option is being
     exercised multiplied by the Exercise Price.  Upon compliance with the
     foregoing but subject to paragraph 8 hereof, the Company agrees to do all
     things necessary in accordance with Guyanor's share transfer procedures in
     order to cause the Optionee to become the beneficial owner of such number
     of Optioned Shares in respect of which the Option is exercised.  The
     Optionee acknowledges that, due to
<PAGE>

     French law considerations, Class B Shares of Guyanor are not represented by
     share certificates and the Optionee will comply with Guyanor's share
     registration and transfer procedures.

4.   Option Not Transferable
     -----------------------

     The Option is not transferable or assignable except by will or by the laws
     of descent and distribution.

5.   Termination of Option
     ---------------------

     The Option shall terminate, to the extent not previously exercised, upon
     the first to occur of the following dates:

     (a)  at 5:00 p.m. (Denver, Colorado time) on the date which is ten years
          from the Date of Grant, the expiration date of the Option;

     (b)  one year after the Optionee ceases to be a Director of the Company for
          any reason; in the event of death, the Option may be exercised within
          such year by the person to whom the Optionee's rights under the Option
          shall pass by the Optionee's will or by the laws of descent and
          distribution to the extent that the Optionee was entitled to exercise
          the Option at his death.

6.   Adjustments in Shares
     ---------------------

     The Option confers upon the Optionee the option to purchase Class B Shares
     as they are constituted at the Date of Grant.  If prior to the exercise of
     the Option Guyanor is required under French law to make adjustments in the
     value of its Class B Shares, the Company agrees that it will make
     corresponding adjustments to the number of Optioned Shares or the Exercise
     Price.

7.   Professional Advice
     -------------------

     The acceptance and exercise of the Option and the sale of the Optioned
     Shares issued pursuant to the exercise of the Option may have consequences
     under applicable tax and securities laws which may vary depending on the
     individual circumstances of the Optionee.  Accordingly, the Optionee
     acknowledges that he has been advised to consult his personal legal and tax
     advisor in connection with this Agreement and his dealings with respect to
     the Option and the acquisition of the Optioned Shares from the Company.

8.   Regulatory Approvals
     --------------------

     The Option shall be subject to any necessary approval of and acceptance by
     any stock exchange on which the Optioned Shares are listed and any other
     regulatory authority having jurisdiction over the Company or Guyanor.  The
     Optionee acknowledges that the grant of the Option by the Company to the
     Optionee and the transfer of the Optioned Shares by the Company to the
     Optionee upon any exercise of the Option are subject to applicable
     securities laws and regulations.

     The Optionee further acknowledges that such Option grant and any transfer
     of Optioned Shares are subject to appropriate exemptions from the
     registration and prospectus requirements of such applicable securities laws
     and regulations being available to the Company and no prospectus or
     registration statement having to be filed by the Company.  To the extent
     Canadian securities laws are applicable, the Company agrees to apply to
     relevant Canadian securities regulatory authorities for any necessary order
     exempting the Company from applicable Canadian registration and prospectus
     requirements and/or to file with relevant securities regulatory authorities
     any necessary notices of intention to sell.  The Optionee agrees to comply
     with any conditions of exemptions or exemption orders from applicable
     registration and prospectus requirements for the Option grant, any transfer
     of Optioned Shares from the Company to the Optionee and any resale of the
     Optioned Shares by the Optionee, and acknowledges and agrees to any time
     delays or hold periods that may be required in connection with the use of
     or reliance on such applicable exemptions or exemption orders.
<PAGE>

     Where necessary to effect exemption from registration or distribution of
     the Optioned Shares under securities laws applicable to the securities of
     the Guyanor, the Optionee shall be required, upon the acquisition of any
     Optioned Shares pursuant to this Option to acquire the Shares with
     investment intent (i.e., for investment purposes) and not with a view to
     their distribution, and the Board of Directors of the Company may require
     the Optionee to sign an undertaking to that effect in a form acceptable to
     the Board of Directors.  The Board of Directors may take such other action
     or require such other action or agreement by the Optionee as may from time
     to time be necessary to comply with applicable securities laws.  If for any
     reason exemptions from or exemption orders relating to applicable
     registration and prospectus requirements under all relevant securities laws
     are not available to the Company in connection with the Option grant and
     any transfer of Optioned Shares, the Company will notify the Optionee as
     soon as it is aware of the same and the Option will be null and void and
     this Agreement will have no further force or effect.

9.   Notices
     -------

     Any notice to be given hereunder shall be deemed to have been well and
     sufficiently given if mailed by prepaid registered mail, telexed,
     telecopied, telegraphed or delivered to the parties at the addresses
     specified above or at such other address as each party may from time to
     time direct in writing.  Any such notice shall be deemed to have been
     received if mailed, telexed, telecopied, or telegraphed, forty-eight hours
     after the time of mailing, telexing, telecopying or telegraphing and if
     delivered, upon delivery.  If normal mail service is interrupted by a labor
     dispute, slowdown, strike, force majeure, or other cause, a notice sent by
     mail shall not be deemed to be received until actually received, and the
     party giving such notice shall use such other service as may be available
     to ensure prompt delivery or shall deliver such notice.

10.  Governing Law
     -------------

     This Agreement shall be construed and enforced in accordance with the laws
     of the Province of British Columbia and the Federal laws of Canada
     applicable therein.

11.  Time of the Essence
     -------------------

     Time shall be of the essence in the performance of obligations under this
     Agreement.

12.  Entire Agreement
     ----------------

     This Agreement supersedes all prior and contemporaneous oral and written
     statements and representations and contains the entire agreement between
     the parties with respect to the Option.

     IN WITNESS WHEREOF the parties have executed these presents as of the day
and the year first above written.

GOLDEN STAR RESOURCES LTD.

By:  ___/s/ James E. Askew
     JAMES E. ASKEW
     PRESIDENT AND C.E.O.

     ___/s/ John W. Sabine
     JOHN W. SABINE
<PAGE>

                               OPTION AGREEMENT
                               ----------------

     THIS AGREEMENT is entered into effective as of the 15th day of June, 1999
(the "Date of Grant")

BETWEEN:

          GOLDEN STAR RESOURCES LTD., a corporation created by amalgamation
          under the laws of Canada and having its registered office at 885 W.
          Georgia Street, 19th Floor, Vancouver, BC, Canada V6C 3H4

          (hereinafter called the "Company")

                                                               OF THE FIRST PART

AND:      ROBERT STONE, residing at 15-16 09 Balsam Street, Vancouver, British
          Columbia, V6K 3L9 CANADA

          (hereinafter called the "Optionee")

                                                              OF THE SECOND PART

WHEREAS:

A.   The Company is the registered and beneficial owner of certain Class B
     common shares (the "Class B Shares") in Guyanor Ressources S.A.
     ("Guyanor"), a "societe anonyme" constituted under the laws of France;

B.   Guyanor is a controlled subsidiary of the Company and the Company will
     directly benefit from the business success of Guyanor;

C.   In consideration of the services rendered by the Optionee to the Company
     and to Guyanor, the Company desires to grant an option to the Optionee to
     purchase certain Class B Shares of Guyanor from the Company.

     NOW THEREFORE in consideration of the premises and of the covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

1.   Grant
     -----

     The Company hereby grants to the Optionee the option (the "Option") to
     purchase, effective the Date of the Grant and upon and subject to all the
     terms and conditions set forth herein, 5,000 Class B Shares of Guyanor
     which are owned by the Company (collectively, the "Optioned Shares").

2.   Exercise Price
     --------------

     The exercise price for Optioned Shares shall be Cdn.$0.45 per share (the
     "Exercise Price").

3.   Exercise
     --------

     The Option shall vest immediately.

     Except as provided in paragraph 5 hereof, the Option may only be exercised
     while the Optionee is at the time of such exercise a director of the
     Company and shall have continuously so served since the grant of the
     Option.
<PAGE>

     The Optionee may exercise the Option by giving written notice to the
     Company and delivering to the Company a certified cheque in an amount equal
     to the number of Optioned Shares in respect of which the Option is being
     exercised multiplied by the Exercise Price.  Upon compliance with the
     foregoing but subject to paragraph 8 hereof, the Company agrees to do all
     things necessary in accordance with Guyanor's share transfer procedures in
     order to cause the Optionee to become the beneficial owner of such number
     of Optioned Shares in respect of which the Option is exercised.  The
     Optionee acknowledges that, due to French law considerations, Class B
     Shares of Guyanor are not represented by share certificates and the
     Optionee will comply with Guyanor's share registration and transfer
     procedures.

4.   Option Not Transferable
     -----------------------

     The Option is not transferable or assignable except by will or by the laws
     of descent and distribution.

5.   Termination of Option
     ---------------------

     The Option shall terminate, to the extent not previously exercised, upon
     the first to occur of the following dates:

     (a)  at 5:00 p.m. (Denver, Colorado time) on the date which is ten years
          from the Date of Grant, the expiration date of the Option;

     (b)  one year after the Optionee ceases to be a Director of the Company for
          any reason; in the event of death, the Option may be exercised within
          such year by the person to whom the Optionee's rights under the Option
          shall pass by the Optionee's will or by the laws of descent and
          distribution to the extent that the Optionee was entitled to exercise
          the Option at his death.

6.   Adjustments in Shares
     ---------------------

     The Option confers upon the Optionee the option to purchase Class B Shares
     as they are constituted at the Date of Grant.  If prior to the exercise of
     the Option Guyanor is required under French law to make adjustments in the
     value of its Class B Shares, the Company agrees that it will make
     corresponding adjustments to the number of Optioned Shares or the Exercise
     Price.

7.   Professional Advice
     -------------------

     The acceptance and exercise of the Option and the sale of the Optioned
     Shares issued pursuant to the exercise of the Option may have consequences
     under applicable tax and securities laws which may vary depending on the
     individual circumstances of the Optionee.  Accordingly, the Optionee
     acknowledges that he has been advised to consult his personal legal and tax
     advisor in connection with this Agreement and his dealings with respect to
     the Option and the acquisition of the Optioned Shares from the Company.

8.   Regulatory Approvals
     --------------------

     The Option shall be subject to any necessary approval of and acceptance by
     any stock exchange on which the Optioned Shares are listed and any other
     regulatory authority having jurisdiction over the Company or Guyanor.  The
     Optionee acknowledges that the grant of the Option by the Company to the
     Optionee and the transfer of the Optioned Shares by the Company to the
     Optionee upon any exercise of the Option are subject to applicable
     securities laws and regulations.

     The Optionee further acknowledges that such Option grant and any transfer
     of Optioned Shares are subject to appropriate exemptions from the
     registration and prospectus requirements of such applicable securities laws
     and regulations being available to the Company and no prospectus or
     registration statement having to be filed by the Company.  To the extent
     Canadian securities laws are applicable, the Company agrees to apply to
     relevant Canadian securities regulatory authorities for any necessary order
     exempting the Company from applicable Canadian registration and prospectus
     requirements and/or to file with relevant securities regulatory authorities
     any necessary notices of intention to sell.  The Optionee agrees to comply
<PAGE>

     with any conditions of exemptions or exemption orders from applicable
     registration and prospectus requirements for the Option grant, any transfer
     of Optioned Shares from the Company to the Optionee and any resale of the
     Optioned Shares by the Optionee, and acknowledges and agrees to any time
     delays or hold periods that may be required in connection with the use of
     or reliance on such applicable exemptions or exemption orders.

     Where necessary to effect exemption from registration or distribution of
     the Optioned Shares under securities laws applicable to the securities of
     the Guyanor, the Optionee shall be required, upon the acquisition of any
     Optioned Shares pursuant to this Option to acquire the Shares with
     investment intent (i.e., for investment purposes) and not with a view to
     their distribution, and the Board of Directors of the Company may require
     the Optionee to sign an undertaking to that effect in a form acceptable to
     the Board of Directors.  The Board of Directors may take such other action
     or require such other action or agreement by the Optionee as may from time
     to time be necessary to comply with applicable securities laws.  If for any
     reason exemptions from or exemption orders relating to applicable
     registration and prospectus requirements under all relevant securities laws
     are not available to the Company in connection with the Option grant and
     any transfer of Optioned Shares, the Company will notify the Optionee as
     soon as it is aware of the same and the Option will be null and void and
     this Agreement will have no further force or effect.

9.   Notices
     -------

     Any notice to be given hereunder shall be deemed to have been well and
     sufficiently given if mailed by prepaid registered mail, telexed,
     telecopied, telegraphed or delivered to the parties at the addresses
     specified above or at such other address as each party may from time to
     time direct in writing.  Any such notice shall be deemed to have been
     received if mailed, telexed, telecopied, or telegraphed, forty-eight hours
     after the time of mailing, telexing, telecopying or telegraphing and if
     delivered, upon delivery.  If normal mail service is interrupted by a labor
     dispute, slowdown, strike, force majeure, or other cause, a notice sent by
     mail shall not be deemed to be received until actually received, and the
     party giving such notice shall use such other service as may be available
     to ensure prompt delivery or shall deliver such notice.

10.  Governing Law
     -------------

     This Agreement shall be construed and enforced in accordance with the laws
     of the Province of British Columbia and the Federal laws of Canada
     applicable therein.

11.  Time of the Essence
     -------------------

     Time shall be of the essence in the performance of obligations under this
     Agreement.

12.  Entire Agreement
     ----------------

     This Agreement supersedes all prior and contemporaneous oral and written
     statements and representations and contains the entire agreement between
     the parties with respect to the Option.

     IN WITNESS WHEREOF the parties have executed these presents as of the day
and the year first above written.

GOLDEN STAR RESOURCES LTD.

By:  ___/s/ James E. Askew
     JAMES E. ASKEW
     PRESIDENT AND C.E.O.

     ___/s/ Robert Stone
     ROBERT STONE

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