Board Changes

RNS Number : 1357K

Goldstone Resources Ltd

19 September 2016

 

19 September 2016

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Board Changes

GoldStone Resources Limited (AIM: GRL), the West and Central Africa focused gold exploration company quoted on AIM, is pleased to announce the appointment of Richard Lloyd as an Independent Non-Executive Director of the Company with immediate effect.

Richard Lloyd is currently Head of Business Development for Global Metals and Mining at Price Forbes & Partners Limited. Prior to joining Price Forbes, Richard was a Director in the Resources, Energy Infrastructure team at ANZ London having joined from Commerzbank AG. Richard has also held positions at Dresdner Kleinwort, Financial Security Assurance UK Ltd and Standard Bank. Before entering the financial services sector to work with natural resource companies, Richard began his career as a geologist, having worked on projects in Indonesia, Malaysia, Peru and Zimbabwe, as well as deep level gold mining with Anglogold in South Africa. Richard holds a BSc (Hons) in Mining Geology and A.R.S.M and an M.Sc. in Mineral Deposit Appraisal from the Royal School of Mines at Imperial College London

In addition, the Company announces that Andrew Bell, a non-executive director of the Company, has resigned as a director of the Company with immediate effect to focus on his other business interests. The Board would like to thank Andrew for his contribution and support over a period of transition and the Company is now on a stronger footing having completed the recent fundraise and re-commenced exploration activity at the Homase-Akrokerri Project.  The Board would like to thank him for his contribution and wish him well in his future endeavours.

The following information is required to be disclosed pursuant to Schedule Two, paragraph (g) and Rule 17 of the AIM Rules for Companies.

Additional information on Richard Andrew Lloyd (aged 44)

Directorships and partnerships currently held or previously held in the last five years by Richard Lloyd are as follows:

Current	Previous five years
-	Envirotechniks Limited

For further information, please contact:

GoldStone Resources Limited
Emma Priestley/ Neil Gardyne	[phone] / [phone]
Strand Hanson Limited
Richard Tulloch / James Bellman	[phone]
SI Capital Limited
Nick Emerson / Andy Thacker	[phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

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About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted exploration company with projects in Ghana, Senegal and Gabon that range from grassroots to advanced exploration.

The Company is focused on developing the Homase-Akrokeri project in Southern Ghana, which hosts an existing 602,000 oz gold JORC compliant resource at an average grade of 1.77g/t, along strike from the Anglo Gold Ashanti Obuasi Gold Mine. Goldstone is focussed upon building a portfolio of high quality projects in Ghana, in the highly prospective Birimian-age Ashanti Gold Belt, one of the largest in the world - approximately 70 Moz gold produced to-date.

In Senegal, the Company holds the Sangola "Permis de Recherche", where a permit wide termite mound sampling programme has identified several robust gold anomalies at surface.  In Gabon, the Company holds the Oyem and Ngoutou permits, which both contain robust gold in soil anomalies in excess of 15km length.  Nine DD holes have been completed at Oyem and assay results yielded gold concentrations of up to 9.5g/t in a 120m wide deformational zone.  At Ngoutou, three DD holes have indicated a wide gold mineralisation potentially covering 120m of strike.  These licences are currently being reviewed by the Company.

 

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