Goldstone Resources Regulatory News (GRL)

13 Jun 2006 11:56

Goldstone Resources Ltd13 June 2006 GOLDSTONE RESOURCES LIMITED PROGRESS REPORT The Directors of Goldstone Resources Ltd ("Goldstone" or the "Company") wish toprovide the following update. GOLD PROGRAMME IN GUYANA A total of twelve shallow drill holes, sited in Lease Area B to define the areallimits of gold mineralization previously located on an extensive palaeosurface,have been completed and the cores sampled. Assay results indicate that themineralization previously intersected is sporadic and does not have lateralcontinuity. Dr. Minter, GoldStone's Director of Exploration, has recommendedthat further work in Lease Area B should be discontinued. A decision concerningthe remaining prospecting licence application in Lease Area A will be delayeduntil the end of June 2006. Dr. Lawrie Minter, who holds a PhD in Palaeoplacer Sedimentology, has reviewedand approved the content of this announcement. POTENTIAL ADDITIONAL PROJECT GoldStone is continuing, with the assistance of an independent miningconsultancy, to evaluate the acquisition of an alluvial diamond project inNamaqualand, South Africa. The project is majority-owned by subsidiaries of GeoQuest Holdings Limited,which holds 30.7 per cent. of the issued share capital of GoldStone and in whichthe Directors of GoldStone have an interest, in aggregate, of 52.2 per cent. ofthe issued share capital. In the event that the Company agrees to acquire theproject, the transaction would be classified as a related party transactionunder the AIM Rules. Further information will be announced in due course. BAUXITE Reconnaissance exploration of the bauxite deposits in the Bauxite PermissionArea was continued by BHP Billiton until April 2006. Preliminary results areexpected shortly. CASH RESOURCES GoldStone currently has cash resources of approximately US$3 million. Contact: GoldStone Resources Ltd 00 27 21 794 4004Nico van der Hoven (Chief Executive Officer) This information is provided by RNS The company news service from the London Stock Exchange