Final Results

Goldstone Resources Ltd
26 August 2005

                          GOLDSTONE RESOURCES LIMITED
                         ('GoldStone' or the 'Company')

                            ANNOUNCEMENT OF RESULTS
                      FOR THE YEAR ENDED 28 FEBRUARY 2005


Chief Executive's Statement

I am pleased to provide a review of GoldStone's activities during the year ended
28 February 2005.

The gold reconnaissance drilling programme was completed in June 2005.  A total
of 12,285 metres of core was recovered from 56 drill sites.  All assay results
have been received and indicate that fifty two gold-bearing palaeoplacer layers
have been intersected.  Assay values obtained range from 0.10 to 3.78 g/t over
an average sample thickness of 27 centimetres.  These exploration values,
although not commercially viable, are significantly anomalous and indicate
palaeoplacer surfaces for further exploration.

Visual and geophysical logs of the drill holes are being integrated with the
mineralised palaeosurface sites to produce three-dimensional stratigraphic
models of prospective targets.  Two layers already identified indicate distal
palaeoplacer surfaces that each extend laterally over areas exceeding 100 square
kilometres. Follow-up drilling has confirmed their continuity.

This successful identification of the location of subsurface mineralised layers
within a 700 metre section of the vast two-kilometre thick Roraima sequence has
enabled the Company to project their likely surface expression, hidden beneath
dense vegetation.  This now permits the design of a soil geochemistry and
surface mapping programme that could highlight, although not certain, better
mineralised zones for selective follow-up drilling.

Bauxite exploration work undertaken on deposits in the Kopinang Basin has
indicated a potential resource in excess of 1,100 million metric tonnes.  We
expect shortly to sign a contract with a major player in the alumina industry to
carry out further exploration on the area in more detail and work is expected to
commence during this third quarter of 2005.

Further financing of the Company

The Company will be seeking additional equity funding during the next two months
which will be required to provide sufficient working capital to maintain the
various mineral rights and to carry out the next phase of exploration on the
gold project.  At the same time, we will continue to explore the possibility of
entering into an agreement with a suitable partner to assist in the funding of
the gold project.

Nico van der Hoven
Chief Executive Officer
25 August 2005


PROFIT AND LOSS ACCOUNTS

                                              Note        Year ended  Year ended 
                                                                  28          29
                                                            February    February 
                                                                2005        2004
                                                                   $           $

TURNOVER                                               -             -
Exploration expenses                                   (4,336,090)   (130,607)

Gross loss                                             (4,336,090)   (130,607)


Other operating expenses                               (2,158,287)   (343,663)
Interest receivable                                    166,912       27


OPERATING LOSS FOR THE FINANCIAL YEAR                  (6,327,465)   (474,243)

Balance brought forward - (deficit)                    (2,932,097)   (2,457,854)

Balance carried forward - (deficit)                    (9,259,562)   (2,932,097)


Loss per ordinary share
Basic (cents per share)                         1      (8.8)         (35,657)



BALANCE SHEETS

                                                                28            29
                                                          February      February
                                                              2005          2004
                                                                 $             $

FIXED ASSETS
Tangible assets                                        461,468       8,426

CURRENT ASSETS
Debtors and prepayments                                2,529         318,938
Cash at bank                                           3,866,591     1,183

                                                       3,869,120     320,121
CREDITORS: amounts falling due within one year

Amounts due to group companies                         (40,499)      (18,938)
Creditors and accruals                                 (485,005)     (257,060)

                                                       (525,504)     (275,998)

Net current assets                                     3,343,616     44,123

TOTAL ASSETS LESS CURRENT LIABILITIES                  3,805,084     52,549

CAPITAL AND RESERVES
Share capital                                          1,122,982     2,082
Share premium                                          11,386,554    1,912,362
Capital contribution reserve                           555,110       1,070,202
Profit and loss account - (deficit)                    (9,259,562)   (2,932,097)

EQUITY SHAREHOLDERS' FUNDS                             3,805,084     52,549



NOTES

1.   EARNINGS PER SHARE

     Basic earnings per share is calculated by dividing the losses attributable 
     to ordinary shareholders by the weighted average number of ordinary shares 
     in issue after the placing on AIM.  Diluted earnings per share is
     calculated using the weighted average number of ordinary shares in issue as
     adjusted to assume conversion of all dilutive potential ordinary shares.

     FRS 14: Earnings Per Share ('EPS'), requires presentation of diluted EPS 
     when a company could be called upon to issue shares that would decrease net
     profit or increase net loss per share.  For a loss making company with
     outstanding warrants, net loss per share would only be increased by the 
     exercise of out-of the-money warrants.  Since it seems inappropriate to 
     assume that option holders would act irrationally, no adjustments has been 
     made to diluted EPS for out-of-the-money warrants.

                                                       2005                 2004
                                                          $                    $

Earnings per share

Loss attributable to share holders                (6,327,465)          (474,243)

                                                  No.                  No.

Weighted average number of ordinary shares        62,400,000           1,330


Basic loss per share (cents)                      (8.8)                (35,657)


2.   The financial statements incorporated in the annual report and accounts for
     the year ended 28 February 2005, from which the information in this
     announcement has been extracted, have been prepared in United States 
     Dollars under the historical cost convention and in accordance with 
     accounting standards applicable in the United Kingdom.

3.   The annual report and accounts is expected to be posted to shareholders
     during the course of the next week.  Copies of the annual report and 
     accounts will be available for a period of one month from the offices of 
     Westhouse Securities LLP, Clements House, 14-18 Gresham Street, London 
     EC2V 7NN.

4.   Because the Company will require additional funding during the year ending 
     28 February 2006 in order to continue its existence, the directors believe 
     that there is a material uncertainty regarding the ability of the Company 
     to continue as a going concern.  In the independent Auditors' report, the 
     Auditors mention that they have considered the adequacy of this disclosure
     and believe that, in view of the significance of this uncertainty, this 
     fact should be drawn to the attention of the Company's members.  The 
     Auditors have not qualified their opinion in this respect.



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