Goldstone Resources Inc.
TSX : GRC
PINK SHEETS : GRSZF

Goldstone Resources Inc.

August 26, 2010 16:31 ET

Goldstone Resources Halts Exploration Drilling

TORONTO, ONTARIO--(Marketwire - Aug. 26, 2010) - Goldstone Resources Inc. ("Company") (TSX:GRC)(PINK SHEETS:GRSZF) has temporarily suspended the Key Lake exploration drilling program previously outlined in its press release dated June 22, 2010. Following the requisition of a shareholders' meeting by Phillip Cunningham on August 23, 2010, the Company's site geologists resigned their positions with the Company. As a result, the Company has postponed further drilling of the Key Lake property pending resolution of its corporate and staffing issues.

The preliminary economic assessment of the Brookbank Deposit and the exploration at Leitch Mine/Sand River continues.

ABOUT GOLDSTONE RESOURCES

Goldstone Resources is a junior exploration company which holds advanced stage and past producing gold assets in the Geraldton-Beardmore area of Northwestern Ontario. The Geraldton/Beardmore gold district has historical production of approximately 4.2 million ounces of gold.

Further information is available on the Company's website at www.grcmines.com and on SEDAR under the Company's profile at www.sedar.com.

Forward-Looking Statements

This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Contact Information

  • Goldstone Resources Inc.
    J. Patrick Sheridan, Jr.
    President & Chief Executive Officer
    (416) 864-6332
    (416) 628-5935 (FAX)
    www.grcmines.com