Progress on Operations

 6 August 2024

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Progress on Operations

GoldStone Resources Limited (AIM:GRL) is pleased to provide an update on the progress of operations in respect of the Homase Mine and heap leach operation in south-western Ghana ("Homase").

·    Solid progress with the development of additional heap leach pads at Homase, with Pad 4 now complete and Pads 5, 6 and 7 advancing on schedule and on budget.

·    Construction of Pad 5 now well advanced with civil engineering works completed and the liner being laid, see Figures 1 and 2.

·    Earthwork preparation is underway ahead of developing Pads 6 and 7.

·    Development of additional leach pads is integral to the Company's objective to deliver the planned 50,000 tonnes of stacked and agglomerated ore within six months, to support gold production targets of 1,000oz pcm.

Figure 1:  Civil Engineering completed on Pad 5

Figure 2: Commencement of liner being laid on Pad 5

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About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted mining and development company with projects in Ghana that range from grassroots exploration to production.

The Company is focused on developing the Akrokeri-Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000oz gold resource at an average grade of 1.77 g/t. The existing resource is confined to a 4km zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at 2.5 g/t recovered. Production is currently focussed on the Homase Mine however it is the Company's intention to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.