10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x	QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2011
OR
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number   000-52837

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company) 

(Exact name of registrant as specified in its charter)

NEVADA

(State or other jurisdiction of incorporation or organization)

3390 Toopal Drive

Oceanside, California 92058

 (Address of principal executive offices, including zip code.)

(210) 862-3071

(telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES x   NO o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  YES o   NO o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer	o	Smaller reporting company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YES  o  NO x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 7,070,000 as of December 31, 2011.

1

PART I – FINANCIAL INFORMATION
	FINANCIAL STATEMENTS
Item 1	Financial Statements:	3
	Balance Sheets as of December 31, 2011 and June 30, 2011	3
	Statements of Operations and Comprehensive Income (Loss) for the three months ended December 31, 2011, 2010 and from April 21, 2006 to December 31, 2011	4
	Statements of Cash Flows for the three months ended December 31, 2011, 2010 and from April 21, 2006 to December 31, 2011	5
	Statements of Stockholders' (Deficiency) Equity from April 21, 2006 to December 31, 2011	6
	Notes to Financial Statements	7 - 14
Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14 - 15
Item 3	Quantitative and Qualitative Disclosures About Market Risk	15
Item 4	Controls and Procedures	16
PART II – OTHER INFORMATION
Item 1A	Risk Factors	16
Item 6	Exhibits	16
Signatures		17

2

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

BALANCE SHEETS

 (Stated in U.S. Dollars)

	December 31,			June 30,
	2011			2011
ASSETS
Current
Cash	$	11		$	51
	$	11		$	51
LIABILITIES
Current Liabilities
Accounts payable and accrued liabilities	$	98,005		$	62,801
Loan payable		80,912			67,722
Due to related parties		-			880
		178,917			131,403
STOCKHOLDERS’  ( DEFICIENCY) EQUITY
Capital Stock
Authorized:
100,000,000 voting common shares with a par value of $0.00001 per share
100,000,000 preferred shares with a par value of $0.00001 per share,       none issued
Issued:
7,070,000 common shares at December 31, 2011 and June 30, 2011		70			70
Additional paid in capital		106,990			106,990
Deficit Accumulated During the Exploration Stage		(285,966	)		(238,412	)
		(178,906	)		(131,352	)
	$	11		$	51

The accompanying notes are an integral part of these financial statements.

3

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

 (Stated in U.S. Dollars)

													CUMULATIVE
													PERIOD FROM
	THREE			THREE			SIX			SIX			INCEPTION
	MONTHS			MONTHS			MONTHS			MONTHS			APRIL 21
	ENDED			ENDED			ENDED			ENDED			2006 TO
	DECEMBER 31			DECMEBER 31			DECEMBER 31			DECMEBER 31			DECEMBER 31
	2011			2010			2011			2010			2011
Revenue	$	-		$	-		$	-		$	-		$	-
Expenses
Professional fees		2,520			2,429			8,999			9,229			140,468
Administration		4,500			4,500			9,000			9,000			27,000
Consulting fees		8,486			7,500			15,986			15,000			61,845
Mineral claim payment		-			-			-			-			10,000
Transfer and filing fees		-			-			300			-			4,058
Office and sundry		2,048			2,264			3,619			4,106			28,675
Interest expenses		2,360			1,320			4,624			2,528			9,841
Rent		1,500			1,500			3,000			3,000			9,000
Travel		1,893			-			1,893			-			1,893
Foreign exchange (gain) loss		61			(7	)		133			1			(6,814	)
		23,368			19,506			47,554			42,864			285,966
Net Loss and Comprehensive Loss		(23,368	)		(19,506	)		(47,554	)		(42,864	)		(285,966	)
Basic And Diluted Loss Per Common Share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted Average Number Of Common Shares Outstanding		7,070,000			7,070,000			7,070,000			7,070,000

The accompanying notes are an integral part of these financial statements.

4

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

STATEMENTS OF CASH FLOWS

(Stated in U.S. Dollars)

							CUMULATIVE
							PERIOD FROM
	SIX			SIX			INCEPTION
	MONTHS			MONTHS			APRIL 21
	ENDED			ENDED			2006 TO
	DECEMBER 31			DECMEBER 31			DECEMBER 31
	2011			2010			2011
Cash Provided by (Used for):
Operating Activities
Net loss for the period	$	(47,554	)	$	(42,864	)	$	(285,966	)
Adjustment for items not involving cash:
Accrued interest expense		4,624			2,528			9,841
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities		35,204			30,035			101,080
		(7,726	)		(10,301	)		(175,045	)
Financing Activity
Loan payable		8,566			49,696			27,722
Due to related parties		(880	)		(39,394	)		40,274
Issue of share capital		-			-			107,060
		7,686			10,302			175,056
Net Increase (Decrease) In Cash		(40	)		1			11
Cash, Beginning Of Period		51			7			-
Cash, End Of Period	$	11		$	8		$	11
Supplemental Information of Cash Flow Information
Interest paid	$	-		$	-		$	-
Income taxes paid	$	-		$	-		$	-

The accompanying notes are an integral part of these financial statements.

5

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

STATEMENTS OF STOCKHOLDERS’ (DEFICIENCY) EQUITY

PERIOD FROM INCEPTION, APRIL 21, 2006, TO DECEMBER 31, 2011

 (Stated in U.S. Dollars)

	COMMON STOCK									DEFICIT
	NUMBER						ACCUMULATED			ACCUMULATED
	OF				ADDITIONAL		OTHER			DURING THE
	COMMON		PAR		PAID-IN		COMPREHENSIVE			EXPLORATION
	SHARES		VALUE		CAPITAL		INCOME			STAGE			TOTAL
Beginning balance, April 21, 2006		-	$	-	$	-	$	-		$	-		$	-
April 24, 2006 – shares issued for cash at $0.00001		6,000,000		60		-		-			-			60
Net loss for the year		-		-		-		-			(10,440	)		(10,440	)
Balance, June 30, 2006		6,000,000		60		-		-			(10,440	)		(10,380	)
March 28, 2007-shares issued for cash at $0.10		1,070,000		10		106,990		-			-			107,000
Net loss for the year		-		-		-		-			(36,562	)		(36,562	)
Unrealized foreign exchange gain		-		-		-		6,309			-			6,309
Balance, June 30, 2007		7,070,000		70		106,990		6,309			(47,002	)		66,367
Net loss for the year		-		-		-		-			(67,681	)		(67,681	)
Realized foreign exchange gain		-		-		-		(6,309	)		-			(6,309	)
Balance, June 30, 2008		7,070,000		70		106,990		-			(114,683	)		(7,623	)
Net loss for the year											(22,415	)		(22,415	)
Balance, June 30, 2009		7,070,000		70		106,990		-			(137,098	)	$	(30,038	)
Net loss for the year											(13,061	)		(13,061	)
Balance, June 30, 2010		7,070,000		70		106,990		-			(150,159	)	$	(43,099	)
Net loss for the year											(88,253	)		(88,253	)
Balance, June 30, 2011		7,070,000		70		106,990		-			(238,412	)	$	(131,352	)
Net loss for the period											(47,554	)		(47,554	)
Balance, December 31, 2011		7,070,000	$	70	$	106,990	$	-		$	(285,966	)	$	(178,906	)

The accompanying notes are an integral part of these financial statements.

6

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2011

 (Stated in U.S. Dollars)

1.      NATURE OF OPERATIONS

Organization

The Company was incorporated in the State of Nevada, U.S.A., on April 21, 2006.

Exploration Stage Activities

The Company has been in the exploration stage since its formation and is primarily engaged in the acquisition and exploration of mining claims.  Upon location of a commercial minable reserve, the Company expects to actively prepare the site for its extraction and enter a development stage.  During the fiscal year 2010, the Company’s mineral claim interest was expired and lapsed.  Currently, the Company is actively looking for other mineral properties for its planned business operation.

Going Concern

These financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.

The general business strategy of the Company is to acquire and explore mineral properties. The continued operations of the Company and the recoverability of mineral property costs is dependent upon the existence of economically recoverable mineral reserves, the ability of the Company to obtain necessary financing to complete the development of its properties, and upon future profitable production. The Company has not generated any revenues or completed development of any properties to date. Further, the Company has a working capital deficit of $178,906 (June 30, 2011 - $131,352), has incurred losses of $285,966 since inception, and further significant losses are expected to be incurred in the exploration and development of its mineral properties. The Company will require additional funds to meet its obligations and maintain its operations. There can be no guarantee that the Company will be successful in raising the necessary financing. Management’s plans in this regard are to raise equity financing as required.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty.

7

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2011

 (Stated in U.S. Dollars)

Basis of Presentation

The unaudited financial statements as of December 31, 2011 included herein have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations on a going basic concern-basis. This disclosure presumes funds will be available to finance on-going development, operations and capital expenditures and the realization of assets and the payment of liabilities in the normal course of operations for the foreseeable future.

In the opinion of the Company’s management these financial statements reflect all adjustments necessary to present fairly the Company’s financial position at December 31, 2011 and the results of its operation for the six months then ended. Operating results for the six months ended December 31, 2011 are not necessarily indicative of the results that may be expected for the year ending June 30, 2012. It is suggested that these financial statements be read in conjunction with June 30, 2011 audited financial statements and notes thereto.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements of the Company have been prepared in accordance with US GAAP.  Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates which have been made using careful judgment.  Actual results may vary from these estimates. The financial statements have, in management’s opinion, been properly prepared within reasonable limits of materiality and within the framework of the significant accounting policies summarized below.

a)      Exploration Stage Enterprise

The Company’s financial statements are prepared using the accrual method of accounting and according to the provisions of ASC 915 “Accounting and Reporting for Development Stage Enterprises,” as it devotes substantially all of its efforts to acquiring and exploring mineral properties.  Until such properties are acquired and developed, the Company will continue to prepare its financial statements and related disclosures in accordance with entities in the exploration stage.

b)      Cash

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.

c)      Mineral Property Acquisition Payments

The Company expenses all costs incurred on mineral properties to which it has secured exploration rights prior to the establishment of proven and probable reserves.  If and when proven and probable reserves are determined for a property and a feasibility study prepared with respect to the property, then subsequent exploration and development costs of the property will be capitalized.

8

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2011

 (Stated in U.S. Dollars)

2.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

c)     Mineral Property Acquisition Payments

The Company regularly performs evaluations of any investment in mineral properties to assess the recoverability and/or the residual value of its investments in these assets.  All long-lived assets are reviewed for impairment whenever events or circumstances change which indicate the carrying amount of an asset may not be recoverable.

d)     Exploration Expenditures

The Company follows a policy of expensing exploration expenditures until a production decision in respect of the project and the Company is reasonably assured that it will receive regulatory approval to permit mining operations, which may include the receipt of a legally binding project approval certificate.

e)     Asset Retirement Obligations

The Company has adopted ASC 410, “Accounting for Asset Retirement Obligations”, which requires that an asset retirement obligation (“ARO”) associated with the retirement of a tangible long-lived asset be recognized as a liability in the period which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated asset.

The cost of the tangible asset, including the initially recognized ARO, is depleted, such that the cost of the ARO is recognized over the useful life of the asset.  The ARO is recorded at fair value, and accretion expense is recognized over time as the discounted liability is accreted to its expected settlement value.  The fair value of the ARO is measured using expected future cash flow, discounted at the Company’s credit-adjusted risk-free interest rate.  To date, no significant asset retirement obligation exists due to the early stage of exploration.  Accordingly, no liability has been recorded.

f)      Use of Estimates and Assumptions

The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

9

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2011

 (Stated in U.S. Dollars)

2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

g)     Financial Instruments

ASC 820, “Fair Value Measurements and Disclosures” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1 - Quoted prices in active markets for identical assets or liabilities;

Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and

Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing.

The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, loan payable and due to related parties. Pursuant to ASC 820, the fair value of our cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

The Company’s operations are in Canada, which results in exposure to market risks from changes in foreign currency rates. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk.

h)     Environmental Costs

Environmental expenditures that relate to current operations are charged to operations or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are charged to operations. Liabilities are recorded when environmental assessments and/or remedial efforts are probable, and the cost can be reasonably estimated. Generally, the timing of these accruals coincides with the earlier of completion of a feasibility study or the Company’s commitments to plan of action based on the then known facts.

10

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2011

 (Stated in U.S. Dollars)

2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

i)      Income Taxes

The Company accounts for income taxes in accordance with ASC 740, “Accounting for Income Taxes” and ASC 740 —Accounting for Uncertainty in Income Taxes, which require the liability method of accounting for income taxes. The liability method requires the recognition of deferred tax assets and liabilities for future tax consequences of temporary differences between the financial statement basis and the tax basis of assets and liabilities.

j)      Basic and Diluted Net Loss Per Share

The Company reports basic loss per share in accordance with ASC 260 – “Earnings Per Share”.  Basic loss per share is computed using the weighted average number of common stock outstanding during the period.  Diluted loss per share is computed using the weighted average number of common and potentially dilutive common stock outstanding during the period.  Diluted loss per share is equal to basic loss per share because there are no potential dilutive securities.

k)      Foreign Currency Translation

The Company’s functional currency is the U.S. dollar.  Transactions in Canadian dollars are translated into U.S. dollars as follows:

i) monetary items at the rate prevailing at the balance sheet date;

ii) non-monetary items at the historical exchange rate;

iii) revenue and expense at the average rate in effect during the applicable accounting period.

Gains and losses on translation are recorded in the statement of operations.

3.     RECENT ACCOUNTING PRONOUNCEMENTS

In May 2011, the FASB issued ASU 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs”, which is effective for annual reporting periods beginning after December 15, 2011. This guidance amends certain accounting and disclosure requirements related to fair value measurements. Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. The Company is currently evaluating the impact of the adoption.

11

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2011

 (Stated in U.S. Dollars)

3.     RECENT ACCOUNTING PRONOUNCEMENTS (Continued)

In June 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income, which is effective for annual reporting periods beginning after December 15, 2011. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. In addition, items of other comprehensive income that are reclassified to profit or loss are required to be presented separately on the face of the financial statements. This guidance is intended to increase the prominence of other comprehensive income in financial statements by requiring that such amounts be presented either in a single continuous statement of income and comprehensive income or separately in consecutive statements of income and comprehensive income. The adoption of ASU 2011-05 is not expected to have a material impact on the Company’s financial position or results of operations.

In September 2011, the FASB issued ASC 350 "Intangibles - Goodwill and other" intended to simplify goodwill impairment testing. Entities will be allowed to perform a qualitative assessment on goodwill impairment to determine whether it is more likely than not (defined as having a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. This guidance is effective for goodwill impairment tests performed in interim and annual periods for fiscal years beginning after December 15, 2011, or the Company's first quarter of Fiscal 2013. The Company does not expect this guidance will have a material impact on its financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

4.     MINERAL CLAIM INTEREST

On May 9, 2006, the Company acquired, from a private company controlled by an officer/shareholder of the Company, a 100% interest in three contiguous mineral claims (later amalgamated into one mineral claim) encompassing over 800 hectares in the Cariboo Mining Division, British Columbia, Canada, for consideration of a cash payment of $10,000. During the fiscal year 2010, the Company’s mineral claim interest was expired and lapsed. Currently, the Company is in the process of locating other mineral claim interests for its planned business operations.

5.     CAPITAL STOCK

a) On April 24, 2006, the Company issued 6,000,000 common shares at $0.00001 per share to two founding shareholders.

b) On March 28, 2007, the Company closed its public offering and issued additional 1,070,000 common shares at $0.10.

c)  The Company has no stock option plan, warrants or other dilutive securities.

12

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2011

 (Stated in U.S. Dollars)

6.    DUE TO RELATED PARTIES

Due to related parties represents the amount advanced by companies controlled by a former director and principal shareholder of the Company. The amount is unsecured, non-interest bearing and due on demand.

During the six months ended December 31, 2011, $880 due to a related party was assigned and transferred to Bobcat Development (a non-related party).

7.     LOAN PAYABLE

Loan payable consists of followings:

$48,337 (June 30, 2011 - $45,540) was payable to ATP Corporate Services Corp. which $40,274 was the result of the assignment of amounts due to related parties on July 1, 2010. Commencing July 1, 2010, this loan payable bears interest at 12% per annual which is unsecured and due on demand. During the six months ended December 31, 2011, the Company incurred and accrued interest expense of $2,797 (six months ended December 31, 2010 - $2,527)

$23,518 (June 30, 2011 - $22,182) was payable to 0787129 B.C. Ltd. which $10,384 and $11,798 were the result of the assignment and transfer from loan payable to 0858604 B.C. Ltd. (a non related party) and Bobcat Development (a non-related party), respectively. The loan amount is unsecured, interest-bearing at 12% per annual and due on demand. During the six months ended December 31, 2011, the Company incurred and accrued interest expense of $1,336.

During the six months ended December 31, 2011, Bobcat Development (a non-related party) advanced the Company loan amount of $8,566. The loan amount is unsecured, interest-bears at 12% per annual and due on demand. On December 31, 2011, $880 due to a related party was assigned and transferred to Bobcat Development. As of December 31, 2011, the amount payable to Bobcat Development was $9,057 which included $491 interest expense incurred or accrued for the six months ended December 31, 2011.

13

GOLDEN STAR RESOURCE CORP.

(An Exploration Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2011

 (Stated in U.S. Dollars)

8. CONTRACTUAL OBLIGATIONS AND COMMITMENTS

On July 1, 2010, the Company entered into a consulting agreement for services relating to corporate and financial affairs with a non-related party for a term of 24 months, unless terminated earlier, for a consideration of $30,000 a year and payable $2,500 per month. The agreement will automatically renew for a further 24 months unless one of the party gives a notice of nonrenewal. During the six months ended December 31, 2011, the Company incurred and accrued a total consulting fee of $15,000 (six months ended December 31, 2010 - $15,000) in connection with the consulting agreement.

On July 1, 2010, the Company entered into an administrative services agreement with ATP Corporate Services for providing administration services over a term of 24 months for a consideration of $1,500 per month. Pursuant to the administrative services agreement, ATP Corporate is also entitled for reimbursement of office and rent expenses incurred. During the six months ended December 31, 2011, the Company incurred and accrued a total of $9,000, $3,000 and $3,000 (six months ended December 31, 2010 - $9,000, $3,000 and $3,000) for the administrative expense, office expense and rent expense, respectively.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

This section of the quarterly report includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this prospectus. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Plan of Operation

We are an exploration stage corporation and have not yet generated or realized any revenues from our business operations.

Our auditors have issued a going concern opinion. This means there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and do not anticipate generating any revenues until we begin removing and selling minerals. There is no assurance we will ever achieve these goals. Accordingly, we must raise cash from sources other than the sale of minerals in order to implement our project and stay in business. Our only other source for cash at this time is investments by others.

Our exploration target is to find mineralized material, specifically, an ore body containing gold. Our success depends upon finding mineralized material. This includes a determination by our consultant that the property contains reserves. We have not yet selected a consultant. Mineralized material is a mineralized body which has been delineated by appropriate spaced drilling or underground sampling to support sufficient tonnage and average grade of metals to justify removal. If we don’t find mineralized material or if it is not economically feasible to remove it, we will cease operations and you will lose your investment.

14

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - continued

In addition, we may not have enough money to complete the acquisition and exploration of a property. If it turns out that we have not raised enough money to complete our acquisition we will try to raise additional funds from a second public offering, a private placement or through loans. At the present time, we have not made any plans to raise additional money and there is no assurance that we would be able to raise additional money in the future. If we need additional money and cannot raise it, we will have to suspend or cease operations.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are an exploration stage corporation and have not generated any revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the acquisition and exploration of our properties, and possible cost overruns due to price increases in services.

To become profitable and competitive, we need to identify a property and conduct research and explore our property before we start production of any minerals we may find. If we do find mineralized material, we will need additional funding to move beyond the exploration stage. We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.

Liquidity and Capital Resources

We have completed our public offering as of March 28, 2007 and to date have raised $107,060, we will attempt to raise additional money through a subsequent private placement, public offering or through loans.

Currently, we do not have sufficient funds for our intended business operation. Ms. Miller, one of our officers and directors, has agreed in financing the related operating expenditures to maintain the Company. The foregoing agreement is oral; we have nothing in writing. While Ms. Miller has agreed to advance the funds, the agreement is unenforceable as a matter of law because no consideration was given. At the present time, we have not made any arrangements to raise additional cash. If we need additional cash and can't raise it, we will either have to suspend operations until we do raise the cash, or cease operations entirely. Other than as described in this paragraph, we have no other financing plans.

Since inception, we have issued 7,070,000 shares of our common stock and received $107,060.

In March 2006, we issued 3,000,000 shares of common stock to Kathrine MacDonald, our former secretary/treasurer, in consideration of $30 and we issued 3,000,000 shares of common stock to Marilyn Miller, one of our officers and directors, in consideration of $30 pursuant to the exemption from registration contained in Regulation S of the Securities Act of 1993.

We issued 1,070,000 shares of common stock pursuant to the exemption from registration contained in section 4(2) of the Securities Act of 1933. This was accounted for as a purchase of shares of common stock.

As of December 31, 2011, our total assets were $11 and our total liabilities were $178,917.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

15

ITEM 4. CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are effective. There were no changes in our internal control over financial reporting during the quarter ended September 30, 2011 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 6. EXHIBITS.

The following documents are included herein:

Exhibit No.	Document Description
31.1	Certification of Principal Executive Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Chief Executive Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certification of Chief Financial Officer pursuant Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase
101.LAB	XBRL Taxonomy Extension Label Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase

16

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant and in the capacities on this 13th day February, 2012.

GOLDEN STAR RESOURCE CORP.
(Registrant)
BY:	/s/ Steven Bergstrom
	Steven Bergstrom
	President, Principal Executive Officer and a member of the Board of Directors.
BY:	/s/ Marilyn Miller
	Marilyn Miller
	Principal Financial Officer, Principal Accounting Officer, Secretary/Treasurer and a member of the Board of Directors.

17

EX-31.1

Exhibit 31.1

SARBANES-OXLEY SECTION 302(a) CERTIFICATION

I, Steven Bergstrom , certify that:

1.	I have reviewed this 10-Q  for the quarter ended December 31, 2011 of Golden Star Resource Corp. ;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)):
	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals;
	c.	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.	The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date:   February 13, 2012			/s/ STEVEN BERGSTROM
			Steven Bergstrom
			Principal Executive Officer

EX-31.2

Exhibit 31.2

SARBANES-OXLEY SECTION 302(a) CERTIFICATION

I, Marilyn Miller , certify that:

1.	I have reviewed this 10-Q for the quarter ended December 31, 2011 of Golden Star Resource Corp. ;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)):
	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals;
	c.	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.	The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date:   February 13, 2012			/s/ MARILYN MILLER
			Marilyn Miller
			Principal Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. Section 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Golden Star Resource Corp. (the "Company") on Form 10-Q for the period ended December 31, 2011 as filed with the Securities and Exchange Commission on the date here of (the "report"), I, Steven Bergstrom , Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

      Dated this 13th day of February, 2012.

/s/ STEVEN BERGSTROM

Steven Bergstrom  

Chief Executive Officer  

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. Section 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Golden Star Resource Corp. (the "Company") on Form 10-Q for the period ended December 31, 2011 as filed with the Securities and Exchange Commission on the date here of (the "report"), I, Marilyn Miller , Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated this 13th day of February, 2012.

/s/ MARILYN MILLER

Marilyn Miller

Chief Financial Officer

XML

RECENT ACCOUNTING PRONOUNCEMENTS

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

RECENT ACCOUNTING PRONOUNCEMENTS

3.  RECENT ACCOUNTING PRONOUNCEMENTS

In May 2011, the FASB issued ASU 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs”, which is effective for annual reporting periods beginning after December 15, 2011. This guidance amends certain accounting and disclosure requirements related to fair value measurements. Additional disclosure requirements in the update include: (1) for Level 3 fair value measurements, quantitative information about unobservable inputs used, a description of the valuation processes used by the entity, and a qualitative discussion about the sensitivity of the measurements to changes in the unobservable inputs; (2) for an entity’s use of a nonfinancial asset that is different from the asset’s highest and best use, the reason for the difference; (3) for financial instruments not measured at fair value but for which disclosure of fair value is required, the fair value hierarchy level in which the fair value measurements were determined; and (4) the disclosure of all transfers between Level 1 and Level 2 of the fair value hierarchy. The Company is currently evaluating the impact of the adoption.

In June 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income, which is effective for annual reporting periods beginning after December 15, 2011. This guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. In addition, items of other comprehensive income that are reclassified to profit or loss are required to be presented separately on the face of the financial statements. This guidance is intended to increase the prominence of other comprehensive income in financial statements by requiring that such amounts be presented either in a single continuous statement of income and comprehensive income or separately in consecutive statements of income and comprehensive income. The adoption of ASU 2011-05 is not expected to have a material impact on the Company’s financial position or results of operations.

In September 2011, the FASB issued ASC 350 "Intangibles - Goodwill and other" intended to simplify goodwill impairment testing. Entities will be allowed to perform a qualitative assessment on goodwill impairment to determine whether it is more likely than not (defined as having a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. This guidance is effective for goodwill impairment tests performed in interim and annual periods for fiscal years beginning after December 15, 2011, or the Company's first quarter of Fiscal 2013. The Company does not expect this guidance will have a material impact on its financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements of the Company have been prepared in accordance with US GAAP.  Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates which have been made using careful judgment.  Actual results may vary from these estimates. The financial statements have, in management’s opinion, been properly prepared within reasonable limits of materiality and within the framework of the significant accounting policies summarized below.

a) Exploration Stage Enterprise

The Company’s financial statements are prepared using the accrual method of accounting and according to the provisions of ASC 915 “Accounting and Reporting for Development Stage Enterprises,” as it devotes substantially all of its efforts to acquiring and exploring mineral properties.  Until such properties are acquired and developed, the Company will continue to prepare its financial statements and related disclosures in accordance with entities in the exploration stage.

b) Cash

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.

c) Mineral Property Acquisition Payments

The Company expenses all costs incurred on mineral properties to which it has secured exploration rights prior to the establishment of proven and probable reserves.  If and when proven and probable reserves are determined for a property and a feasibility study prepared with respect to the property, then subsequent exploration and development costs of the property will be capitalized.

The Company regularly performs evaluations of any investment in mineral properties to assess the recoverability and/or the residual value of its investments in these assets.  All long-lived assets are reviewed for impairment whenever events or circumstances change which indicate the carrying amount of an asset may not be recoverable.

d) Exploration Expenditures

The Company follows a policy of expensing exploration expenditures until a production decision in respect of the project and the Company is reasonably assured that it will receive regulatory approval to permit mining operations, which may include the receipt of a legally binding project approval certificate.

e) Asset Retirement Obligations

The Company has adopted ASC 410, “Accounting for Asset Retirement Obligations”, which requires that an asset retirement obligation (“ARO”) associated with the retirement of a tangible long-lived asset be recognized as a liability in the period which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated asset.

The cost of the tangible asset, including the initially recognized ARO, is depleted, such that the cost of the ARO is recognized over the useful life of the asset.  The ARO is recorded at fair value, and accretion expense is recognized over time as the discounted liability is accreted to its expected settlement value.  The fair value of the ARO is measured using expected future cash flow, discounted at the Company’s credit-adjusted risk-free interest rate.  To date, no significant asset retirement obligation exists due to the early stage of exploration.  Accordingly, no liability has been recorded.

f) Use of Estimates and Assumptions

The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

g) Financial Instruments

ASC 820, “Fair Value Measurements and Disclosures” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1 - Quoted prices in active markets for identical assets or liabilities;

Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and

Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing.

The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, loan payable and due to related parties. Pursuant to ASC 820, the fair value of our cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

The Company’s operations are in Canada, which results in exposure to market risks from changes in foreign currency rates. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk.

h) Environmental Costs

Environmental expenditures that relate to current operations are charged to operations or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are charged to operations. Liabilities are recorded when environmental assessments and/or remedial efforts are probable, and the cost can be reasonably estimated. Generally, the timing of these accruals coincides with the earlier of completion of a feasibility study or the Company’s commitments to plan of action based on the then known facts.

i) Income Taxes

The Company accounts for income taxes in accordance with ASC 740, “Accounting for Income Taxes” and ASC 740 —Accounting for Uncertainty in Income Taxes, which require the liability method of accounting for income taxes. The liability method requires the recognition of deferred tax assets and liabilities for future tax consequences of temporary differences between the financial statement basis and the tax basis of assets and liabilities.

j) Basic and Diluted Net Loss Per Share

The Company reports basic loss per share in accordance with ASC 260 – “Earnings Per Share”.  Basic loss per share is computed using the weighted average number of common stock outstanding during the period.  Diluted loss per share is computed using the weighted average number of common and potentially dilutive common stock outstanding during the period.  Diluted loss per share is equal to basic loss per share because there are no potential dilutive securities.

k) Foreign Currency Translation

The Company’s functional currency is the U.S. dollar.  Transactions in Canadian dollars are translated into U.S. dollars as follows:

i) monetary items at the rate prevailing at the balance sheet date;

ii) non-monetary items at the historical exchange rate;

iii) revenue and expense at the average rate in effect during the applicable accounting period.

Gains and losses on translation are recorded in the statement of operations.

XML

Balance Sheets (Unaudited) (USD $)	Dec. 31, 2011	Jun. 30, 2011
ASSETS
Cash	$ 11	$ 51
TOTAL ASSETS	11	51
LIABILITIES AND STOCKHOLDERS' ( DEFICIENCY) EQUITY
Accounts payable and accrued liabilities	98,005	62,801
Loan payable	80,912	67,722
Due to related parties	0	880
TOTAL LIABILITIES	178,917	131,403
STOCKHOLDERS' (DEFICIENCY) EQUITY
Capital Stock Authorized: 100,000,000 voting common shares with a par value of $0.00001 per share 100,000,000 preferred shares with a par value of $0.00001 per share, none issued Issued: 7,070,000 common shares at December 31, 2011 and June 30, 2011	70	70
Additional paid in capital	106,990	106,990
Deficit Accumulated During the Exploration Stage	(285,966)	(238,412)
TOTAL STOCKHOLDER' (DEFICEINCY) EQUITY	(178,906)	(131,352)
TOTAL LIABILITIES AND STOCKHOLDERS' ( DEFICIENCY) EQUITY	$ 11	$ 51

XML

Statements of Shareholders (Deficiency) Equity (Unaudited) (USD $)	COMMON STOCK	ADDITIONAL PAID-IN CAPITAL	ACCUMULATED OTHER COMPREHENSIVE INCOME	DEFICIT ACCUMULATED DURING THE EXPLORATION STAGE	Total
Beginning Balance, Amount at Jun. 30, 2007	$ 70	$ 106,990	$ 6,309	$ (47,002)	$ 66,367
Beginning Balance, Shares at Jun. 30, 2007	7,070,000
Realized foreign exchange gain			(6,309)		(6,309)
Net loss				(67,681)	(67,681)
Ending Balance, Amount at Jun. 30, 2008	70	106,990	0	(114,683)	(7,623)
Ending Balance, Shares at Jun. 30, 2008	7,070,000
Net loss				(22,415)	(22,415)
Ending Balance, Amount at Jun. 30, 2009	70	106,990	0	(137,098)	(30,038)
Ending Balance, Shares at Jun. 30, 2009	7,070,000
Net loss				(13,061)	(13,061)
Ending Balance, Amount at Jun. 30, 2010	70	106,990	0	(150,159)	(43,099)
Ending Balance, Shares at Jun. 30, 2010	7,070,000
Net loss				(88,253)	(88,253)
Ending Balance, Amount at Jun. 30, 2011	70	106,990	0	(238,412)	(131,352)
Ending Balance, Shares at Jun. 30, 2011	7,070,000
Net loss				(47,554)	(47,554)
Ending Balance, Amount at Dec. 31, 2011	$ 70	$ 106,990	$ 0	$ (285,966)	$ (178,906)
Ending Balance, Shares at Dec. 31, 2011	7,070,000

XML

NATURE OF OPERATIONS

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

NATURE OF OPERATIONS

1. NATURE OF OPERATIONS

Organization

The Company was incorporated in the State of Nevada, U.S.A., on April 21, 2006.

Exploration Stage Activities

The Company has been in the exploration stage since its formation and is primarily engaged in the acquisition and exploration of mining claims. Upon location of a commercial minable reserve, the Company expects to actively prepare the site for its extraction and enter a development stage. During the fiscal year 2010, the Company’s mineral claim interest was expired and lapsed. Currently, the Company is actively looking for other mineral properties for its planned business operation.

Going Concern

These financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.

The general business strategy of the Company is to acquire and explore mineral properties. The continued operations of the Company and the recoverability of mineral property costs is dependent upon the existence of economically recoverable mineral reserves, the ability of the Company to obtain necessary financing to complete the development of its properties, and upon future profitable production. The Company has not generated any revenues or completed development of any properties to date. Further, the Company has a working capital deficit of $178,906 (June 30, 2011 - $131,352), has incurred losses of $285,966 since inception, and further significant losses are expected to be incurred in the exploration and development of its mineral properties. The Company will require additional funds to meet its obligations and maintain its operations. There can be no guarantee that the Company will be successful in raising the necessary financing. Management’s plans in this regard are to raise equity financing as required.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty.

Basis of Presentation

The unaudited financial statements as of December 31, 2011 included herein have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations on a going basic concern-basis. This disclosure presumes funds will be available to finance on-going development, operations and capital expenditures and the realization of assets and the payment of liabilities in the normal course of operations for the foreseeable future.

In the opinion of the Company’s management these financial statements reflect all adjustments necessary to present fairly the Company’s financial position at December 31, 2011 and the results of its operation for the six months then ended. Operating results for the six months ended December 31, 2011 are not necessarily indicative of the results that may be expected for the year ending June 30, 2012. It is suggested that these financial statements be read in conjunction with June 30, 2011 audited financial statements and notes thereto.

XML

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2011	Jun. 30, 2011
Stockholders Equity
Common shares Par value	$ 0.00001	$ 0.00001
Common shares Authorized	100,000,000	100,000,000
Common shares issued	7,070,000	7,070,000
Preferred shares Par value	$ 0.00001	$ 0.00001
Preferred shares Authorized	100,000,000	100,000,000
Preferred shares issued	0	0

XML

Document and Entity Information	6 Months Ended
	Dec. 31, 2011
Document And Entity Information
Entity Registrant Name	Golden Star Resource Corp.
Entity Central Index Key	0001375348
Document Type	10-Q
Document Period End Date	Dec. 31, 2011
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	7,070,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2012

XML

Statements of Operations and Comprehensive Loss (Unaudited) (USD $)	3 Months Ended		6 Months Ended		68 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
Income Statement [Abstract]
Revenue	$ 0	$ 0	$ 0	$ 0	$ 0
Expenses
Professional fees	2,520	2,429	8,999	9,229	140,468
Administration	4,500	4,500	9,000	9,000	27,000
Consulting fees	8,486	7,500	15,986	15,000	61,845
Mineral claim payment	0	0	0	0	10,000
Transfer and filing fees	0	0	300	0	4,058
Office and sundry	2,048	2,264	3,619	4,106	28,675
Interest expenses	2,360	1,320	4,624	2,528	9,841
Rent	1,500	1,500	3,000	3,000	9,000
Travel	1,893	0	1,893	0	1,893
Foreign exchange (gain) loss	61	(7)	133	1	(6,814)
TOTAL EXPENSES	23,368	19,506	47,554	42,864	285,966
Net Loss and Comprehensive Loss	$ (23,368)	$ (19,506)	$ (47,554)	$ (42,864)	$ (285,966)
Basic And Diluted Loss Per Common Share	$ 0	$ 0	$ 0	$ 0
Weighted Average Number Of Common Shares Outstanding	7,070,000	7,070,000	7,070,000	7,070,000

XML

DUE TO RELATED PARTIES

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

DUE TO RELATED PARTIES

6.  DUE TO RELATED PARTIES

Due to related parties represents the amount advanced by companies controlled by a former director and principal shareholder of the Company. The amount is unsecured, non-interest bearing and due on demand.

During the six months ended December 31, 2011, $880 due to a related party was assigned and transferred to Bobcat Development (a non-related party).

XML

CAPITAL STOCK

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

CAPITAL STOCK

5.  CAPITAL STOCK

a) On April 24, 2006, the Company issued 6,000,000 common shares at $0.00001 per share to two founding shareholders.

b) On March 28, 2007, the Company closed its public offering and issued additional 1,070,000 common shares at $0.10.

c)  The Company has no stock option plan, warrants or other dilutive securities.

XML

LOAN PAYABLE

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

LOAN PAYABLE

7. LOAN PAYABLE

Loan payable consists of followings:

$48,337 (June 30, 2011 - $45,540) was payable to ATP Corporate Services Corp. which $40,274 was the result of the assignment of amounts due to related parties on July 1, 2010. Commencing July 1, 2010, this loan payable bears interest at 12% per annual which is unsecured and due on demand. During the six months ended December 31, 2011, the Company incurred and accrued interest expense of $2,797 (six months ended December 31, 2010 - $2,527)

$23,518 (June 30, 2011 - $22,182) was payable to 0787129 B.C. Ltd. which $10,384 and $11,798 were the result of the assignment and transfer from loan payable to 0858604 B.C. Ltd. (a non related party) and Bobcat Development (a non-related party), respectively. The loan amount is unsecured, interest-bearing at 12% per annual and due on demand. During the six months ended December 31, 2011, the Company incurred and accrued interest expense of $1,336.

During the six months ended December 31, 2011, Bobcat Development (a non-related party) advanced the Company loan amount of $8,566. The loan amount is unsecured, interest-bears at 12% per annual and due on demand. On December 31, 2011, $880 due to a related party was assigned and transferred to Bobcat Development. As of December 31, 2011, the amount payable to Bobcat Development was $9,057 which included $491 interest expense incurred or accrued for the six months ended December 31, 2011.

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CONTRACTUAL OBLIGATIONS AND COMMITMENTS

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

CONTRACTUAL OBLIGATIONS AND COMMITMENTS

8. CONTRACTUAL OBLIGATIONS AND COMMITMENTS

On July 1, 2010, the Company entered into a consulting agreement for services relating to corporate and financial affairs with a non-related party for a term of 24 months, unless terminated earlier, for a consideration of $30,000 a year and payable $2,500 per month. The agreement will automatically renew for a further 24 months unless one of the party gives a notice of nonrenewal. During the six months ended December 31, 2011, the Company incurred and accrued a total consulting fee of $15,000 (six months ended December 31, 2010 - $15,000) in connection with the consulting agreement.

On July 1, 2010, the Company entered into an administrative services agreement with ATP Corporate Services for providing administration services over a term of 24 months for a consideration of $1,500 per month. Pursuant to the administrative services agreement, ATP Corporate is also entitled for reimbursement of office and rent expenses incurred. During the six months ended December 31, 2011, the Company incurred and accrued a total of $9,000, $3,000 and $3,000 (six months ended December 31, 2010 - $9,000, $3,000 and $3,000) for the administrative expense, office expense and rent expense, respectively.

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Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended		68 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
Cash Provided by (Used for) Operating Activities:
Net loss for the period	$ (47,554)	$ (42,864)	$ (285,966)
Adjustment for items not involving cash:
Accrued interest expense	4,624	2,528	9,841
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	35,204	30,035	101,080
TOTAL	(7,726)	(10,301)	(175,045)
Financing Activity
Loan payable	8,566	49,696	27,722
Due to related parties	(880)	(39,394)	40,274
Issue of share capital	0	0	107,060
TOTAL	7,686	10,302	175,056
Net Increase In Cash	(40)	1	11
Cash, Beginning Of Period	51	7
Cash, End Of Period	11	8	11
Supplemental Information of Cash Flow Information
Interest paid	0	0	0
Income taxes paid	$ 0	$ 0	$ 0

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MINERAL CLAIM INTEREST

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

MINERAL CLAIM INTEREST

4. MINERAL CLAIM INTEREST

On May 9, 2006, the Company acquired, from a private company controlled by an officer/shareholder of the Company, a 100% interest in three contiguous mineral claims (later amalgamated into one mineral claim) encompassing over 800 hectares in the Cariboo Mining Division, British Columbia, Canada, for consideration of a cash payment of $10,000. During the fiscal year 2010, the Company’s mineral claim interest was expired and lapsed. Currently, the Company is in the process of locating other mineral claim interests for its planned business operations.