GOLDSTONE RESOURCES LIMITED

Regulatory Filings • Mar 26, 2025

National Storage Mechanism | Additional information

RNS Number : 1497C

Goldstone Resources Ltd

26 March 2025

26 March 2025

GOLDSTONE RESOURCES LIMITED

("Goldstone" or the "Company")

Production Continues to Ramp Up at Homase Mine

Goldstone Resources Limited (AIM: GRL) is pleased to provide an update on its Homase Mine and heap leach operation in south-western Ghana.

·    Gold Pour: The Company achieved another increase in production, with 18.629 kilograms of gold doré, equivalent to approximately 598.9 ounces of gold doré poured as at 24 March 2025, a 14% monthly increase.

·    Operational Ramp-Up: The operation maintains the average 48,000 tonnes of agglomerated stacked ore per month, with mining operations and heap leach processing targets on track. 

·    Expansion in Progress: The preparatory work continues for the expansion of Pit 1, with the pushback of the benches to allow access to the ore.  It is anticipated that mining operations will re-commence in Pit 1 this month, where expected grades are 1-1.2 g/t, which with increased stacking and the continued improvement in leach kinetic rates is expected to facilitate the achievement of our production target over the coming months. 

To further support the expansion of both mining and processing operations throughout 2025, operations continue to advance on the second lift of pads 3 and 4 and the extension to Cell 5 is nearing completion, with compacting completing ready for the geomembrane to be laid.  The civil engineering work continues for the construction of Cells 6 and 7. The photographs shared below (Figures 1-4) provide a snapshot of this progress.

Photographs of developments at the Homase Mine (taken in March 2025)

Figure 1: Pit 1 pushback underway to recommence mining ore

Figure 2: The Heap Leach operation showing the second lift on Pads 3 and 4

Figure 3: Pad 5 Extension

Figure 4: March Gold Pour

For further information, please contact:  

GoldStone Resources Limited
Emma Priestley	Tel: +44 (0)1534 487 757
Strand Hanson Limited
James Dance / James Bellman	Tel: +44 (0)20 7409 3494
S. P. Angel Corporate Finance LLP
Ewan Leggat / Charlie Bouverat	Tel: +44 (0)20 3470 0501
St Brides Partners Ltd Susie Geliher	Tel: +44 (0)20 7236 1177

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted mining and development company with projects in Ghana that range from grassroots exploration to production.

The Company is focused on developing the Akrokeri-Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000oz gold resource at an average grade of 1.77 g/t. The existing resource is confined to a 4km zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at 2.5 g/t recovered. Production is currently focussed on the Homase Mine however it is the Company's intention to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

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