Progress Report

Goldstone Resources Ltd
19 May 2004


GOLDSTONE RESOURCES LIMITED
PROGRESS REPORT


The Directors of GoldStone Resources Limited ('GoldStone' or the 'Company') are
pleased to present a progress report on the Company's projects in Guyana.

In recent weeks, Directors of the Company have had meetings with the Prime
Minister, Mr. Samuel Hinds, and key government officials in Guyana.  The
Directors are pleased to state that the Guyana Geology and Mines Commission and
the Prime Minister reaffirmed their support and approval of the intended
drilling programme and offered the requisite assistance to advance the drilling
programme and the Company's activities.

Mike Christie, a Director of the Company, and Nick Norman, operations manager,
have been present in Guyana since the end of March 2004 to facilitate logistics
and operations.  The Company has already cleared three drill sites in the Aruwai
area (northern portion of lease area A) and expects drilling to commence during
the last week of June in accordance with the planned programme.  First drilling
results are expected at the end of the third quarter of 2004.

The Company has also commenced further pitting of the lateritic bauxite deposit
in the Kopinang area for the purposes of sampling and analysis.


Contacts:

GoldStone Resources Limited                                    00 27 21 794 4004
Nico van der Hoven (Chief Executive Officer)
Jurie Wessels (Finance Director)

Westhouse Securities                                               020 7601 6101
Bill Staple
Tim Feather



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