GOLDSTONE RESOURCES LIMITED

Remuneration Information • Aug 1, 2024

National Storage Mechanism | Additional information

RNS Number : 6847Y

Goldstone Resources Ltd

01 August 2024

`1 August 2024

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Issue of Options

GoldStone Resources Limited (AIM:GRL) announces that the Board has approved the issuance of share options ("Options") to directors and a senior manager of the Company.

The award of the Options represents the first issuance of share options by the Company since September 2011 and the Board believes that it is essential for the Company's directors and senior managers to be suitably incentivised to drive the business forwards and to further align their interests with those of the Company's shareholders.

A total of 56,000,000 Options have been granted, of which: 50% will vest immediately and are exercisable at a price of £0.02 per ordinary share ("Tranche 1"); 25% will vest when production is greater than 650 oz per month for three consecutive months and are exercisable at £0.025 per ordinary share ("Tranche 2"); and 25% will vest when all-in sustaining production costs at the Homase Mine are reduced to US$1,500 per month for three consecutive months and are exercisable at a price of £0.03 per ordinary share ("Tranche 3").

The allocation of the Options to be issued is as presented in the table below:

	Tranche 1	Tranche 2	Tranche 3	Total
Angela List	3,750,000	1,875,000	1,875,000	7,500,000
Emma Priestley	8,500,000	4,250,000	4,250,000	17,000,000
Richard Wilkins	3,750,000	1,875,000	1,875,000	7,500,000
Orrie Fenn	4,500,000	2,250,000	2,250,000	9,000,000
Campbell Smyth	3,750,000	1,875,000	1,875,000	7,500,000
Senior Manager	3,750,000	1,875,000	1,875,000	7,500,000
Total	28,000,000	14,000,000	14,000,000	56,000,000

Following the grant of the above Options, the total number of options granted represents approximately 8.53% of the Company's existing issued share capital, and there are no other options issued or outstanding.

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.

1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	a) Angela List b) Emma Priestley c) Richard Wilkins d) Orrie Fenn e) Campbell Smyth
e	Reason for notification
a.	Position/Status	a) Non-Executive Director (Chair) b) Director (CEO) c) Non-executive Director d) Non-executive Director e) Non-executive Director
b.	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Goldstone Resources Limited
b.	LEI	213800B7ATYRPQUTS551
4	Details of the transaction(s): section to be repeated for (e) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument Identification Code	Options over Ordinary shares of 0.3p each JE00BRJ8YF63
b.	Nature of the transaction	Grant of Share Options
c.	Price(s) and volume(s)	Total* a)   7,500,000 b)   17,000,000 c)   7,500,000 d)   9,000,000 e)   7,500,000 *50% will vest immediately and are exercisable at a price of £0.02 per ordinary share; 25% will vest when production is greater than 650 oz per month for three consecutive months and are exercisable at £0.025 per ordinary share; and 25% will vest when all-in sustaining production costs at the Homase Mine are reduced to US$1,500 per month for three consecutive months and are exercisable at a price of £0.03 per ordinary share
d.	Aggregated information -  Volume* -  Price	48,500,000 As above
e.	Date of the transaction	31 July 2024
f.	Place of the transaction	Off-exchange

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