Goldstone Resources (GRL) Investor presentation summary

Operational highlights

• Homase Mine is a fully permitted, cash-generative open pit, heap leach operation in the Ashanti Gold Belt, Ghana, with production ramping up and a steadily increasing doré output from 150 oz in Nov 2024 to 416 oz in Mar 2025.

• The mine hosts a JORC-compliant resource of 602,000 oz at 1.77 g/t, with oxide ore mined to ~45m depth and fresh, non-refractory sulphide ore at 6 g/t below.

• Processing plant constructed in 2021, upgraded in 2023 to increase throughput to 100m3/hr, with on-site elution, electrowinning, smelting, and laboratory facilities.

• Heap leach pads and ponds are operational, with additional pads under preparation to support production growth.

• Majority of workforce is local, with significant community support initiatives and a focus on environmental stewardship, including minimal footprint and remediation of illegal mining areas.

Resource and exploration potential

• Homase resource is open along strike and at depth, with infill and extension drilling targeting expansion to over 2 million oz.

• Central zone drilling has shown mineralised widths over 15m and grades exceeding 6g/t, with parallel and down-dip zones under review.

• Akrokeri underground mine, 100% owned, historically produced 75,000 oz at 24g/t and is being explored for high-grade quartz veins and extensions.

• Recent drilling at Akrokeri revealed multiple high-grade intercepts, including 1.5m @ 52.1g/t and 4m @ 11g/t.

• The property is within a prolific district, adjacent to major mines such as Obuasi (70Moz), with significant upside from underexplored areas.

Financial and corporate overview

• Market capitalisation as of April 2025 is GBP 11.25m, with 900.2 million shares and 105 million warrants outstanding.

• Gold production increased from 1,257 oz in 2023 to 2,156 oz in 2024, with a 2024 average AISC of $2,500/oz.

• Operating loss for the six months to June 2024 was GBP 1.0m, with a loss for the period of GBP 3.8m.

• Principal gold loan outstanding is 1,871 oz at 14% interest, secured over subsidiary shares.

• Board and management have overseen a major turnaround, with investment capex to date of ~$16m and a strategy to ramp up production to 10,000 oz per annum in the next 12 months.