GRC Gold Springs Resource Corp

Goldstone Resources Inc. (TSX:GRC)(PINK SHEETS:GRSZF) today announced that a
third drill rig has been added to its 2011 exploration program, initially for
use at its Key Lake property in Geraldton and subsequently at its Northern
Empire and Leitch-Sand River properties near Beardmore, Ontario. The Company
also said that it plans to drill several targets over the next few weeks on its
Faymar property near Timmins, Ontario. Goldstone's overall exploration budget
for the year is approximately $6.5 million.


The Key Lake drilling program, of which 8,286 metres has been completed by May
10, 2011 as a result of a later-than-anticipated March 1 start and some earlier
operational difficulties, is primarily focused on identifying near surface gold
mineralization amenable to open pit mining. About 30,000 metres of drilling are
planned for the year at Key Lake. Initial assay results are expected to be
announced soon.


In addition, in March and April, two large grids totalling 54 km were cut over
other favourable geological horizons and an IP survey was completed with initial
interpretation received from JVX Ltd., a geophysical contactor and consulting
services company. A number of significant anomalies have been identified and
will be tested by drilling as soon as ground conditions are drier. 


The Key Lake property is contiguous to the Hardrock Project where eight rigs
will be active in 2011 and where diamond drilling by the Company's joint venture
partner, Premier Gold Mines Limited (TSX: PG) as operator, has established a
gold resource (near surface as well as in high grade intersections at depth).
Goldstone holds a 30% carried interest in the Hardrock Project and in the
estimated NI 43-101 resource of 3.6 million ounces of gold and a 100% interest
in Key Lake and all other properties mentioned in this news release.


Beardmore Properties 

In the Beardmore area, interpretation of data on the Leitch-Sand River and
Northern Empire Mine properties is underway. Current expectations are for
approximately 11,000 metres of diamond drilling to begin shortly, to explore
structural targets along strike from the Sand River, #16 Vein and Creek Vein
systems at Leitch-Sand River, with drilling planned on the northeast portion of
the Northern Empire mine and possibly elsewhere. In addition, drilling will
expand on the outcome of the limited 2010 program completed on the McWilliams
prospect, with an initial four drill holes scheduled. Work is being conducted by
George Langstaff, P.G., P.Geo. (Temporary), the Qualified Person for the
information contained in this section and a Qualified Person within the meaning
of National Instrument 43-101.


Faymar Property 

At the Faymar property, a former producer located in Deloro Township in the
Timmins Gold Camp just south of and adjacent to the Destor-Porcupine Fault,
results from the Fugro Airborne GEOTEM survey carried out earlier this year have
outlined a number of anomalies, four of which will now be tested over the next
few weeks as part of an initial phase of approximately 1,500 metres of diamond
drilling in a co-operative program with another exploration company which owns
adjoining land.


"We got off to a late and slow start on the Key Lake program, but have since hit
our stride," said Philip Cunningham, Goldstone's Chairman and Interim Chief
Executive Officer. "These are early days for 2011 exploration, but what we have
seen so far is encouraging."


"Over the course of the year, we will be conducting infill drilling in
previously explored areas to increase confidence about previous results, as well
as testing new targets suggested by historical results, the IP survey, and a
preliminary open pit analysis conducted earlier," he added.


Goldstone's previously-stated objective is to establish the viability of an open
pit mining operation at Key Lake and to build a NI 43-101 resource. The program
is also seeking to extend the zone another kilometre to the west of 2010
drilling where, in addition to open pit potential, there is higher grade
underground potential as a result of Hole 195-46 drilled by Cyprus in the
1990's, which returned 44.9 g/t Au over 3.4m, including 136.1 g/t over 1m
(uncut-not true width). 


"As we've said before, our objective in Beardmore-where we are currently
prioritizing drill locations-is to develop more gold resources near our Northern
Empire mill which could be developed sequentially with those identified at our
Brookbank and Northern Empire properties." Cunningham stated. "We have already
outlined a number of promising anomalies at the McWilliams structure and look
forward to testing these and others in the Beardmore Camp with one of the three
rigs currently at Key Lake." 


About Key Lake 

The Key Lake property hosts the former Jelex Mine which had historical
production of 5,675 oz of recovered gold. The gold mineralization is hosted by
greenschist facies metagreywacke and is associated with alteration, quartz
veining, and disseminated arsenopyrite and pyrite. Mineralization boundaries are
generally gradational and not visually distinctive. By the end of 2010, over 200
holes had been drilled over a 3 km long north-northwest trending zone down to a
depth of about 200 m with horizontal spacing of 25-50 m in the eastern
two-thirds and spacing of 25-100 m in the western third. 


About Goldstone 

Goldstone Resources Inc. is a gold exploration and development company operating
in the historically significant Geraldton-Beardmore camp of Northwestern Ontario
and focused on gold exploration and deposit delineation at its Key Lake,
Brookbank, Northern Empire and Leitch-Sand River gold properties, and as a
partner in the Hardrock Project joint venture with Premier Gold. Goldstone's
100%-owned NI 43-101 resources in the Beardmore area total more than 800,000
ounces. In April 2011, Premier announced an updated NI43-101 resource estimate
for the Hardrock Project in the Geraldton area of 3.6 million ounces of gold of
which Goldstone has a 30% interest (more than 1 million ounces). The camp is
host to several past producers in a district that has historical production of
more than 4.1 million ounces of gold from high grade ore before being shut down
primarily as a result of a $35 gold price-and to Goldstone's fully permitted,
expandable 200-TPD Northern Empire mill.


Further information is available on the Company's website at
www.goldstoneresourcesinc.com and on SEDAR under the Company's profile at
www.sedar.com.


Forward-Looking Statements 

This news release may contain forward-looking information under applicable
securities laws concerning Goldstone's business, operations, financial
performance, condition and prospects, as well as management's objectives,
strategies, beliefs and intentions. Forward looking information is frequently
identified by such words as "may", "will", "plan", "expect", "anticipate",
"intend" and similar words referring to future events and results. This
forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially from those
implied by the forward-looking information. Factors that may cause actual
results to vary materially include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral deposits,
delay or inability to retain a senior exploration and/or operating officer,
inability to raise funds if and when required, unanticipated operational or
technical difficulties, changes in laws or regulations, the risks of obtaining
necessary licenses and permits, changes in general economic conditions and
changes in conditions in the financial markets. Readers are cautioned not to
place undue reliance on this forward-looking information as actual results may
differ materially from those expressed or implied in the forward looking
information. Goldstone does not assume the obligation to revise or update this
forward-looking information after the date of this release or to revise such
information to reflect the occurrence of future unanticipated events, except as
may be required under applicable securities laws.

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