Progress Report

Goldstone Resources Ltd
15 April 2005


GOLDSTONE RESOURCES LTD
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 and bauxite exploration
programmes.


RORAIMA GOLD


Initial results from the reconnaissance drilling programme in Guyana have
successfully demonstrated that gold producing processes are present in a similar
geological environment to the Witwatersrand in South Africa.  A number of
anomalous intersections, which yielded up to 1,900 ppb gold (1.9 g/t), have been
encountered.  While not of economic quantity at this stage, they show that
significant concentration over the background level has occurred.  Geological
analysis will be required to determine areas of higher gold concentration within
GoldStone's exploration model, which can then be tested by further drilling.


The full complement of four drill rigs owned by the Company are currently
drilling in the field.  To date 41 holes (9,430 metres of core), averaging 230
metres in depth, have been drilled over the Unit 4 Formation target.  To date
1,642 samples have been assayed.  The assays have indicated 23 gold anomalies
that range in value from 100 to 1,900 parts per billion in 12 drill holes that
are widespread across the lease area.  Results are listed below:


   SAMPLE         THICKNESS            ASSAY VALUE
   number             m                  ppb  Au

    3016             0.30                  100
    3238             0.21                  1516
    3395             0.18                  510
    3432             0.27                  110
    3724             0.30                  620
    3755             0.30                  330
    3756             0.21                  150
    3758             0.24                  100
    3784             0.29                  140
    3788             0.20                  100
    3790             0.15                  170
    3826             0.28                  630
    3859             0.28                  100
    3866             0.34                  100
    4033             0.24                  140
    4087             0.20                  600
    4102             0.21                  120
    4321             0.36                  100
    4342             0.30                  1900
    4414             0.29                  120
    4507             0.21                  760
    4598             0.23                  230
    4609             0.22                  450



An additional 731 samples are at present being assayed and the cores of six
drill holes are in the process of being sampled.  The Company intends drilling
another eighteen holes during the next two months as part of its initial
reconnaissance drilling programme.  Assay results should be available during the
latter half of this quarter.


The Directors expect that integration of core logging, down-hole survey data,
and gold assays will ultimately enable the Company to identify prospective
locations of high mineral concentration for follow-up reconnaissance drilling.



As at date hereof, GoldStone has approximately US$3 million cash available to
cover its drilling operations and working expenses.


Dr Minter, GoldStone's Director of Exploration, reports that: 'The objectives of
the drilling programme are to verify that conceptual palaeoplacer producing
processes were operative during Roraima deposition and to define depositional
features of the palaeo-environment in order to test the most prospective
locations for high mineral concentrations.


Sediments representing alluvial fan, fluvial braidplain, aeolian and lacustrine
environments have been recognised indicating situations similar to many of the
Witwatersrand analogues available.  For instance, numerous erosional
unconformities, deflation surfaces and an abundance of clast supported
conglomerates have been intersected, all of which occur associated with gold
mineralization in the Witwatersrand.  Furthermore, small gold nuggets extracted
from a mineralized core by hydrofluoric acid demonstrate their placer origin. At
present drilling is investigating a distal environment similar to that in which
the Carbon Leader, Vaal and Basal reefs in the Witwatersrand were deposited.


It should be emphasised that the lease areas being explored in Guyana cover a
prospective palaeoplacer province of 17,000 square kilometres, an area equal to
the mineralized part of the Central Witwatersrand Basin.  The assay results
listed in the table, although sub-economic, are associated with conglomerates
and unconformities.  They are encouraging indicators of palaeoplacer potential
because they demonstrate that selective concentration of the background gold
content of 10 ppb has occurred.  The results obtained represent an intermediate
stage in our programme and will be followed by 3-dimensional stratigraphic
analysis to define palaeoplacer lobes and determine the best locations for
follow up reconnaissance drilling.'


BAUXITE


The Company is in the final stages of negotiation with a major player in the
alumina industry in respect of its bauxite interests within Lease Areas A and B,
and anticipates releasing particulars of an agreement in the near future.



Contacts:

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


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