Progress Report

Goldstone Resources Ltd
08 February 2006



                          GOLDSTONE RESOURCES LIMITED

                                PROGRESS REPORT


The Directors of Goldstone Resources ('Goldstone' or the 'Company') are pleased
to provide the following update on the gold programme in Guyana.

The Company has completed a systematic soil-geochemistry and mapping programme
over six prospective palaeoplacer surfaces in its lease areas, as well as
completing a sedimentological and three-dimensional stratigraphic analysis of
the reconnaissance drill hole data.

The soil sampling has successfully confirmed the outcrop location of two
overlapping shallow palaeoplacers in Lease Area 'B'.  The assay results have
defined a 1 km-wide zone of anomalous mineralisation that extends for 7 km to
encompass two drill holes where grades of 3 g/t over 45cm and 3.8 g/t over 18 cm
had been intersected.  This area, which may contain potential economic
mineralisation, lies in open terrain amenable to low-cost drilling.  A follow-up
exploration programme is being planned.

The outcrop traces of the four palaeoplacers tested in the leached mountainous
terrain of Lease Area 'A' did not respond to the soil-geochemistry sampling
technique applied and therefore shallow drilling along their peripheries will
have to be undertaken in any follow-up programme.  The commencement of a
prospecting programme in this area will be dependent on a successful outcome
from the anticipated exploration work programme in Lease Area B referred to
above.

The sedimentological analysis of drill cores has produced a three-dimensional
stratigraphic model of the internal layering of the Roraima mountainland in
Lease Area 'A'.  Nine sequence boundaries that could be associated with placer
mineralisation processes have been identified and additional sampling of the
drill cores is in progress to test surfaces not previously included.  Assay
results will be available in March.  Furthermore an angular unconformity, a
feature that is considered significant in the Witwatersrand, has been
discovered.  This enables the positioning of short drill holes in an environment
where reworking and placer upgrading might have taken place.  This could be
carried out in March after the end of the wet season.

The GGMC has acknowledged the twenty-six Prospecting Licence applications that
GoldStone submitted in December and has granted permission for exploration to be
continued within their boundaries, pending issuance of any or all of the above
twenty-six Prospecting Licences.

The Company currently has cash resources of approximately US$3.4 million.


Contact:

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




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