Drilling Results from Ngoutou Project in Gabon

RNS Number : 5664I

Goldstone Resources Ltd

04 July 2013

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Positive Drill Results from the Ngoutou Project in Gabon

GoldStone (AIM: GRL), the AIM quoted company focused on gold exploration in West and Central Africa, is pleased to provide assay results for its recently completed drilling campaign at the Company's 100% owned Ngoutou Project in Gabon.

Highlights:

· Wide gold mineralisation discovered in the first two drill holes covering 120 metres of strike

· Results include 16 metres @ 1.3 g/t gold (including 2 metres @ 5.6 g/t), 33.5 metres @ 0.4 g/t and 32 metres @ 0.4 g/t

· Mineralisation remains open in all directions and requires additional drilling

Exploration Director Dr. Hendrik Schloemann commented: "The first results from this limited drilling programme are very positive as they confirm that this large Archean system contains wide zones of gold mineralisation. To date we have tested only 140 metres of strike length out of a total of 15 km and future work along strike may still uncover the best parts of this gold trend."

The Company has received the assay results for its initial three hole diamond drilling campaign (535 metres) completed in May 2013 along two drill traverses which targeted a small portion of the central part of the 15 km long gold-in-soil anomaly at Ngoutou. Best results include 16 metres @ 1.3 g/t gold (including 2 metres @ 5.6 g/t) and 33.5 metres @ 0.4 g/t in hole 13NGDD001 and 32 metres @ 0.4 g/t in hole 13NGDD002.

Sections along the drill traverses are shown at: http://www.rns-pdf.londonstockexchange.com/rns/5664I_1-2013-7-3.pdf

Best results are summarised in the table below:

Bore hole	Width (m)	Au (g/t)**	From (m)
13NGDD001	16.0	1.3	37
including	2.0	5.6	37
13NGDD001	1.0	1.9	84
13NGDD001	33.5	0.4	187
including	2.0	2.2	192
including	1.0	0.9	198
including	1.0	0.7	207
including	4.5	0.6	216
13NGDD002	32.0*	0.4	1
including	3.0	1.9	20
including	13.0	0.7	20

* A large portion of this intersect is in weathered rock and clay

** No cut-off has been applied when intersects were calculated

Gold mineralisation occurs in a granodioritic gneiss, or derived saprolite, in contact with a unit of amphibolites, ultramafic rock and banded iron formation. Gold mineralisation in the dioritic gneiss appears to be associated with strong silification, stock work quartz veining and disseminated sulphide.

In order to extend the known strike length and to understand the full potential of this discovery, GoldStone plans to undertake closely spaced drilling along strike of and between holes 001 and 002. In addition, drill targets approximately 1.5 km to the north-east of the first drill site will be tested to determine the magnitude of gold mineralisation under other parts of the large soil anomaly.

Analyses were carried out by Performance Laboratories in South Africa using the fire assay method. The lower limit of detection was reported to be 0.04 g/t gold.

APPROVAL

The information in this report that relates to exploration results is based on information compiled by Dr. Hendrik Schloemann, who is a Member of the South African Council for Natural Scientific Professions. Dr. Schloemann is a full-time employee of GoldStone and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a competent person in terms of the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr. Schloemann consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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