Conversion Shares Update

GoldStone Resources Limited (AIM: GRL), is pleased to announce, further to its announcement of 23 December 2024, the Conversion Shares and Consideration Shares (together, the "Devonport Shares") have been allotted to Devonport Capital Limited and this constitutes full and final settlement of the Convertible Loan Notes. The Devonport Shares amount to, in aggregate, 147,692,308 new Ordinary Shares, equal to approximately 16 per cent. of the enlarged issued share capital of the Company following Admission.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the Devonport Shares to be admitted to trading on AIM ("Admission") at 8.00 a.m. on or around 29 January 2025. The Shares will be issued as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive dividends and other distributions declared on or after the date on which they are issued.

Upon Admission, the Company's issued ordinary share capital will consist of 900,186,117 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 900,186,117. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Defined terms used in this announcement shall have the same meanings as in the Company's announcement entitled "Convertible Loan Notes Update" dated 23 December 2024 unless otherwise defined herein.