Goldstone owns 100% interest in 26 patented claims and mining leases known as Key Lake (of which 10 claims are freehold with surface rights) on 1,339 acres in Lindsley Township. Key Lake is located in Geraldton adjoining the Hardrock Project. The property has an historical production grade of 0.38oz/t.

In 1997, when gold was US $300; Cyprus Canada Inc. drilled 13 holes completing a 2,270 metre exploration program, five holes intersected visible gold. The drilling program was to determine the possibility of developing an open pit gold mine in the Geraldton area. Drilling focused on either side of the three-compartment shaft with three underground levels.

Drilling confirmed and added to the gold mineralization previously inferred which included 87 holes by Placer Dome.

“GRC” to start drilling at Key Lake June 1