GoldStone Resources Limited provided an operational update in relation to mining and production activities at the Homase Mine and exploration activities at the former Akrokeri Underground Mine. 5,153 troy ounces of gold produced and sold to date from the Homase Mine, realising an average price of $1,794 per oz for revenues of $9.3 million. Gold loan repayments from gold via the delivery of 675 troy ounces to Asia Investments Management Services Limited ("AIMS"), have been delivered.

2022 production target of 7,000 ounces of gold not yet achieved, but the shortfall ounces remain within the heap at various stages of recovery. Further improvements being made to the dry plant to improve gold recovery from the current recovery rate of approximately 65%. Pit 1 and Pit 2 increase in available mineable resource demonstrated from geotechnical drilling which would strongly improve economic performance.

Further drill results from fourth quarter diamond drill programme at the former high grade Akrokeri Mine expected in early first quarter 2023.