Goldstone Resources

Investor Evening

GoldStone Resources Ltd ("GoldStone" or the "Company"), the AIM quoted company focused on gold in West Africa, will be presenting at an investor evening for investors to provide an introduction and update on the Company. The Company hold a series of highly prospective licenses in Ghana and Senegal, and announced in April that it has recently acquired two further licenses in Gabon.

Market commentary - Published in March 2011 at mkt. cap of ?14.4m vs ?20.6m at time of writing

"This year ahead is set to be a year of action for Goldstone, with a steady stream of newsflow...investors will be looking for results from the Company's flagship Homase project, where up to 4,500 metres of drilling are planned during a first phase campaign."

Goldstone has joint ventures with two Ghanaian companies in respect of two properties: Homase, located in the Ashanti Gold Belt and Manso Amenfi that lies along the strike of two major gold trends. Last year the Company entered into an agreement to hold 85% of a further highly prospective licence in Ghana and owns a Licence in Senegal that too is considered highly prospective.

GHANA

Homase

JORC compliant gold resource of 282,608 ounces. Total gold resource of 6.32 million tonnes or ore at an average grade of 1.4 g/t gold applying cut off of 0.5 g/t gold. 

Goldstone entered into a strategic alliance and placing with Bendigo Mining Limited ("Bendigo"), a mid-tier Australian gold producer.  Following the placing, at a 45% premium to the market price at the time, Bendigo holds a 20% stake in Goldstone. Bendigo will provide support to GoldStone in respect of any development and mining of GoldStone's exploration assets.  In May 2011 Goldstone announced it had entered into a contract with Minerex Drilling Contractors for drilling services at the Homase project.

Manso Amenfi

Manso Amenfi lies along strike of a zone of artisanal gold mining and also of the Ayanfuri gold deposit, where ASX listed Perseus Mining has defined a gold resource of 5.3m ounces. The licence also intersects another major gold trend, upon which the Prestea (10.7m oz) and Salman (2.1m oz) discoveries are located.

Akrokerri License - Announced 4 October 2010

The Company entered into an agreement with AIM-quoted Pan African Resources PLC that will lead to Goldstone obtaining a beneficial interest of 85.1% in the Akrokerri License in Ghana. The permit is approximately 10 km north of Anglo-Gold Ashanti's 50 million ounce Obuasi Gold Mine and adjoins AGA's Obuasi eastern border and the southern boundary of GoldStone's Homase permit.  The Directors believe that the permit area covers the structure that controlled the formation of the Obuasi gold deposit, which structure also trends into the Homase license area.  Historical exploration demonstrated that the Akrokerri License area contains at least two sites with known gold mineralisation.

SENEGAL

The Licence mostly covers the gold-prospective Kenieba Inlier of Birimian Formation. The directors believe this area to be highly prospective because historic exploration of the Kenieba Inlier resulted in the discovery of more than 30 million ounces ("Moz") of gold in five major deposits in Mali and Senegal.

GABON

The Company acquired the Ngoutou (515 km² ) and Oyem (516 km²) exploration licenses by the Gabonese Mining Department. Both licenses were awarded for a period of three years and can be renewed twice for a period of three years.

In March 2010 the Company submitted licence applications for the two permits which each contain distinct gold in soil anomalies.  The anomalies were discovered between 2005 and 2009 when 14 million euros of European Union funding was applied to outline the mineral prospectivity of Gabon.  The gold in soil anomaly associated with the Oyem permit in the northern part of Gabon covers a well-known regional geological structure and gold-prospective Archean rocks.  The Ngoutou anomaly in the eastern central part of Gabon has been reported to contain artisanal gold workings and covers Archean and Birimian age rocks.  Both gold anomalies are consistent and in excess of fifteen kilometres long.  Follow-up soil sampling, trenching and possibly augering will be carried out in order to firm up initial drill targets.

FUNDING

Successful placing on 14 June 2010 that raised ?2.06m at 3.5p.

RSVP: Please visit http://www.miningmaven.com/k2/site/event/wednesday-8th-june-investor-evening-at-the-counting-house-cornhill/ where you can reserve your place.

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