Goldstone Resources Inc.

Goldstone Resources Inc.

September 13, 2010 12:15 ET

Goldstone Announces Appointment of Directors and Executive Committee

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2010) - Goldstone Resources Inc. (TSX:GRC)(PINK SHEETS:GRSZF) announced today that its Board of Directors has appointed Morris Prychidny and Paul Little as directors of the Company and has appointed Philip Cunningham (currently Co-Chairman of the Company) as the Chairman.

The Board also appointed an Executive Committee of directors which will seek to take appropriate steps to put Goldstone in a position where, in the words of Mr. Cunningham, "the unrealized underlying value of its assets may be unlocked". Members of the committee are Messrs. Cunningham, Elliott, Prychidny and Little.

Morris Prychidny is a chartered accountant and has a B.A. in economics from the University of Western Ontario. He is a director and Secretary-Treasurer of Orion Capital Incorporated (an investment company focused on start-up ventures predominantly in the junior mining field) and a director and officer of Woodbine Downs Limited, which operates and owns a large portfolio of industrial/commercial real estate in the Toronto area. Mr. Prychidny is also a director and audit committee member of Harricana River Mining Corporation Inc., a private mining exploration company, and a director of Northfield Capital Corporation.

Paul Little is a chartered accountant and has a B.A. in economics from the University of Toronto and an MBA from the University of British Columbia. Mr. Little is President of Westover Investments Inc., an investment company, and from 1986 to 1999, he was a principal of a Toronto-based merchant bank, Gornitzki, Thompson & Little Company and President of GTL Securities Inc., a related securities dealer. From 1980 to 1985, he was Vice President and Chief Financial Officer of Union Gas Ltd., a Canadian natural gas utility. Mr. Little is a director and chairman of EGI Financial Holdings Inc. and a director of Arius3D Corp. Over the past 15 years , Mr. Little has served on the board of directors of 12 TSX-listed companies and one NYSE-listed company.

Goldstone also announced that Mr. Cunningham has notified the Company that he has withdrawn his requisition previously delivered on August 23, 2010 for a special meeting of shareholders.

Further information is available on the Company's website at and on SEDAR under the Company's profile at

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.
    Philip Cunningham
    (647) 401-8965