Goldstone Resources Inc.
TSX : GRC
PINK SHEETS : GRSZF

Goldstone Resources Inc.

May 18, 2011 08:23 ET

Goldstone Files NI 43-101 Technical Report for Hardrock Project

TORONTO, ONTARIO--(Marketwire - May 18, 2011) - Goldstone Resources Inc. (TSX:GRC)(PINK SHEETS:GRSZF) today announced the filing of an updated NI 43-101 Mineral Resource Estimate for the Hardrock Project on SEDAR. The effective of the report is dated April 5, 2011 and is available for review under the Company's profile at www.sedar.com.

The report was prepared by Micon International Limited and lists the following as Qualified Persons for the purposes of NI 43-101: Charley Murahwi, P.Geo., Sam Shoemaker, Jr., B.Sc., MAusIMM., Reg.Mem. SME., and Richard Gowans, P.Eng.

The Hardrock Project is a joint venture located just south of the town of Geraldton, Ontario in which Goldstone holds a 30% carried interest and Premier Gold Mines Limited (TSX:PG), as operator, holds a 70% interest.

About Goldstone

Goldstone Resources Inc. is a gold exploration and development company operating in the historically significant Geraldton-Beardmore camp of Northwestern Ontario and focused on gold exploration and deposit delineation at its Key Lake, Brookbank, Northern Empire and Leitch-Sand River gold properties, and as a partner in the Hardrock Project joint venture with Premier Gold. Goldstone's 100%-owned NI 43-101 resources in the Beardmore area total more than 800,000 ounces. In April 2011, Premier announced an updated NI43-101 resource estimate for the Hardrock Project in the Geraldton area of 3.6 million ounces of gold in which Goldstone has a 30% interest (more than 1 million ounces). The camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold from high grade ore before being shut down primarily as a result of a $35 gold price—and to Goldstone's fully permitted, expandable 200-TPD Northern Empire mill.

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

Forward-Looking Statements

This news release may contain forward-looking information under applicable securities laws concerning Goldstone's business, operations, financial performance, condition and prospects, as well as management's objectives, strategies, beliefs and intentions. Forward looking information is frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "intend" and similar words referring to future events and results. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, delay or inability to retain a senior exploration and/or operating officer, inability to raise funds if and when required, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions and changes in conditions in the financial markets. Readers are cautioned not to place undue reliance on this forward-looking information as actual results may differ materially from those expressed or implied in the forward looking information. Goldstone does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Neither the Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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