Goldstone Resources Regulatory News (GRL)

19 Apr 2007 12:11

Goldstone Resources Ltd19 April 2007 GoldStone Resources Ltd Result of EGM The Directors of GoldStone Resources Ltd ("GoldStone" or the "Company") arepleased to announce that at the extraordinary general meeting held today theresolution was duly passed. As a result, and subject to the acquisition agreement becoming unconditional,the Directors now have the authority to issue the 50,640,000 considerationshares for the acquisition of a 70 per cent. interest in Xanadu Mining (Pty)Limited ("Xanadu Mining") from GeoQuest Holdings Limited ("GeoQuest") (the "Acquisition") which was announced on 3 April 2007. Xanadu Mining has, through its wholly-owned subsidiaries, GrindStone Mining(Pty) Limited ("GrindStone Mining") and Multi-Direct Mining (Pty) Limited ("Multi-Direct Mining"), filed applications for prospecting rights over theSwartdoring Diamond Project, all of which have been accepted by the Departmentof Minerals and Energy ("DME") in the Republic of South Africa. Completion of the Acquisition is now conditional, inter alia, on: • The granting and notarial execution of prospecting rights over all the farms comprising the Swartdoring Diamond Project by the DME in favour of GrindStone Mining and Multi-Direct Mining; • The successful listing of GoldStone on the AltX (the Alternative Exchange of the Johannesburg Stock Exchange), further information on which is set out below; • The approval of the Acquisition by the South African Reserve Bank; and • The passing of a special resolution by the members of GeoQuest approving the Acquisition Agreement. Completion of the Acquisition will not take place until satisfaction of all ofthe conditions, which must occur before 30 October 2007. Enquiries: GoldStone Resources Ltd 00 27 21 794 4004Nico van der Hoven (Chief Executive Officer) Hanson Westhouse Limited 0113 246 2610Tim Feather / Matthew Johnson This information is provided by RNS The company news service from the London Stock Exchange