Progress Report

Goldstone Resources Ltd
02 June 2005


GOLDSTONE RESOURCES LTD

GOLD: ASSAY RESULTS AND PROGRESS REPORT

The Directors of GoldStone Resources Ltd ('the Company' or 'GoldStone') are
pleased to report on the progress of the Company's gold programme.

The reconnaissance drilling programme has now been completed.  Geological
analysis of drilling results received to date has highlighted two continuous
palaeosurfaces at depth, each over 100 square kilometres in extent, with
associated anomalous gold mineralization.  Five follow-up reconnaissance drill
holes are in progress over these targets.

A total of 11,562m within 51 drill holes has been drilled in the Company's two
lease areas.  Seven of the holes drilled into gabbro sills that are usually 300m
thick and were therefore aborted.

Assay results from 18 drill holes have indicated 28 gold-bearing palaeoplacer
tracers.  Five drill holes were barren and 21 drill holes are still in the
process of being sampled or assayed.  To date, a total of 3,485 drill hole
samples have been delivered to the assay laboratory and 2,749 samples have been
assayed.  In addition to previously reported encouraging results, five new
positive assays ranging from 100 to 1,140 ppb have been obtained and are listed
below.

A downhole geophysical survey of twenty-two of the drill holes has been
completed and the data are being integrated with sedimentological logs.

Dr Minter, GoldStone's Director of Exploration, reports that: 'Three-dimensional
stratigraphic analysis of a set of three drill holes in Lease Area 'A', where a
thin 6.36g/t gold-bearing distal palaeosurface was intersected, has confirmed a
laterally continuous planar surface at 54 metres depth, which is estimated to
extend over 112 square kilometres.  Two follow-up reconnaissance drill holes are
in progress over this very prospective target.

Three-dimensional stratigraphic analysis of a set of five drill holes in Lease
Area 'B', which intersected a thin 26g/t gold-bearing palaeosurface 108 metres
below surface, has also revealed regional continuity across an area that is
estimated to extend over 123 square kilometres.  Three follow-up reconnaissance
drill holes are in progress over this prospective target.'

It is anticipated that by the end of August 2005, all the assay data will be
available and that three-dimensional stratigraphic analysis incorporating them
will have been completed.  This will enable definition of the most prospective
areas to be made and Prospecting Applications may be submitted for follow-up
exploration.


                     SAMPLE            THICKNESS                ASSAY VALUE
                     number                    m                    ppb  Au
                       3396                 0.35                        228
                       4908                 0.38                        460
                       5000                 0.38                        100
                       5363                 0.30                        200
                       5683                 0.25                       1140





Contacts:

GoldStone Resources Ltd                                 00 27 21 794 4004
Nico van der Hoven (Chief Executive Officer)






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