Directorate Change and Corporate Update

Goldstone Resources Limited (AIM: GRL announces today that Mr William (Bill) Trew has stepped down from the Company's Board of Directors, effective April 1, 2024. The Company wishes to thank Mr Trew for his contributions during his Board tenure and wishes him well in his future endeavours.

Corporate Update

The Company continues to advance its capital raising plans to provide additional funds to support the Company's operational development, for working capital and to settle various balances due to the Company's outstanding creditors in order to facilitate publication of the 2022 Accounts and Interim Results on a going concern basis. The Company's financial position remains materially unchanged from that announced on 1 March 2024.

The Board believes it is making positive progress towards, inter alia, completing a fundraise and agreeing an extension to the Gold Loan and expects to be able to provide a further update during the next two weeks. It is noted than any equity funding arrangements are expected to be conditional on shareholder approval at a general meeting of the Company and that there can be no guarantee such additional funding arrangements can be concluded.

In the event that the Company is unable to procure sufficient additional funding to fund its ongoing operations, partially settle balances due to the Group's overdue creditors, and reach suitable repayment agreements with such creditors, the Company may be unable to continue as a going concern and trading in the Company's Ordinary Shares on AIM may be cancelled.

The Company's Ordinary Shares will remain suspended from trading and further updates will be provided as appropriate in due course.

Defined terms used in this announcement shall have the same meanings as in the Company's announcement dated 3 January 2024 unless otherwise defined herein.