Just noticed the rise today.

Company website http://www.goldstoneresources.com/

21 December 2018
GOLDSTONE RESOURCES LIMITED

Operational Update on Developments at Akrokeri-Homase Gold Project

GoldStone Resources Limited (AIM: GRL), is pleased to provide an update on activities at its Akrokeri-Homase Gold Project ("AKHM" or "the Project") in the Ashanti Region of Ghana. The Project is centred around two previously producing assets, the high-grade Akrokeri underground mine and the Homase open pit mine, which are being simultaneously developed towards delivering gold production by mid 2020.

The highlights from the work programmes that are continuing on both of the historic mines are set out below.

Akrokeri Underground Mine

· Progress continues to be made at the high grade Akrokeri Mine within the area that hosts the numerous artisanal shafts and pits, whereby work continues to make safe the shallow workings, and those that have been accessed are being mapped

· At the North Shaft, where Level 1 has been intersected, the process of clearing out old rails, wood and debris is underway to form a safe access to continue working in the shaft for the reopening of the mine to access the workings down to 400 feet (approximately 122 metres)


Homase Open Pit Mine

· As part of the Scoping Study along the 8 km Homase Trend, a pilot heap leach project is underway to determine parameters for near term development including the period required for leaching and potential gold recoveries through heap leach treatment

- After the first 40 days of irrigation of a pilot heap leach plant, using 2.5 tonnes of material from Homase South, within the Homase Trend, recoveries are 67.5%, with irrigation continuing through to extinction

- The University of Mines and Technology (UMaT) in Tarkwa, Ghana, estimates that the leach cycle will be 65 days with recoveries of up to 80%

- The oxide zone within Homase South is demonstrating amenability to low-capex heap leach treatment

· Scoping Study will also look at the Homase North Resource Zone within the Homase Trend, where historic trenching has indicated high grade gold mineralisation, including 15.0 metres @ 6.31 g/t Au which includes 4.5 metres @ 18.23 g/t Au

· Following on from the soils programme results announced 20 June 2018, a deep trenching programme is underway, to prove up the continuity of the mineralisation within the Homase Trend north of the former Homase pit. The first stage of trenching is at the Homase North and Adubriem deposits with samples having being submitted to the laboratory, with results expected in Q1 2019

· The Environmental Baseline Study has been expanded to include the potential Homase North pits as well as Homase South


Emma Priestley, CEO of GoldStone, commented:

"Our strategy of advancing development at both Akrokeri and Homase is centred on achieving production at multiple mining operations in as short time as practicable. Akrokeri has the distinct advantage of demonstrating exceptionally high grade material, including intercepts of 1.0 metre at 51.01 g/t Au, and established mining infrastructure, whilst Homase offers the potential benefit of being amenable to low capital heap leach treatment. When looking at the assets in unison, I am confident that GoldStone has a clear pathway to production in mid 2020, utilising the significant support and expertise of our strategic shareholders and team who have a proven track record in building gold mines."

https://www.moneyam.com/action/news/showArticle?id=6253848

28 December 2018
GOLDSTONE RESOURCES LIMITED


US$1.224 million Loan and issue of Warrants

GoldStone Resources Limited (AIM: GRL), announces that it has entered into a loan agreement with Paracale Gold Limited ("Paracale Gold"), the Company's major shareholder, (the "Loan Agreement"), pursuant to which Paracale Gold will provide the Company with a loan of up to US$1.224 million (the "Loan").

The Loan, which will accrue interest at 6.0% per annum, will provide the Company with working capital to fund the continued advancement of its Akrokeri-Homase project ("AKHM" or the "Project"), located in the highly prospective Ashanti region of south-western Ghana. The Project is centred around two previously producing assets, the high-grade Akrokeri underground mine and the Homase open pit mine, which are being simultaneously developed towards delivering gold production by mid-2020.



Summary terms of the Loan and Warrants

· Paracale Gold will provide the Company with a loan of up to US$1.224 million

- US$324,000 will be drawn down immediately

- Three further tranches are available to be drawn down in equal instalments of US$300,000 over the next nine months

· Loan plus accrued interest to be repaid in full on or before 2 June 2022

· The Loan will attract interest at a rate of 6.0 per cent per annum, compounded daily against the Loan's outstanding balance, until it is repaid

· The Loan will be used for the development and advancement of AKHM and to provide general working capital

· Paracale Gold to be issued with 40,352,377 new warrants to subscribe for such number of new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares"), exercisable at a price of 1.2 pence per share at any time during the period through to 2 June 2022 (the "Warrants")

· The existing 40,352,377 warrants held by Paracale Gold have been cancelled

· Director fees to be reduced, with the balance to accrue for deferred payment



Emma Priestley, CEO of GoldStone, commented:

"Paracale Gold shares the Company's vision for the development of the Akrokeri-Homase Project in Ghana. In what remains a challenging market for the natural resource sector, we are pleased to have secured the necessary funding to continue the advancement of AKHM and we welcome and value the continued support of our major shareholder, Paracale Gold as we seek to bring AKHM into production by mid 2020."

https://www.moneyam.com/action/news/showArticle?id=6259010