Update re Convertible Loan Note

Goldstone Resources Limited (AIM: GRL) announces that the Convertible Loan Note ("CLN") issued to Blue Gold International Limited ("BGL" or "Blue Gold") announced on 27 January 2023 was due for redemption on 30 November 2024. The CLN is unsecured and the total outstanding balance including accrued interest as at 29 November 2024 was £2.7m. Under the terms of the CLN, the Company has five business days from the redemption date to make final payment under the CLN. The Company is in ongoing discussions with the provider of the CLN and other parties in relation to a potential variation and extension to the terms of the CLN and will provide a further update in due course.

Whilst the Company expects to be able to renegotiate or otherwise refinance the CLN, there can be no guarantee that this will be achieved. The Board is taking appropriate professional advice regarding the company's trading position in the event that a solution cannot be achieved and the final payment under the CLN cannot be repaid or rescheduled prior to 9 December 2024.