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Development Plan. Corporate Objectives . Increase shareholder value through exploration & development of large impact mineral projects in North America and Australia

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corporate objectives
Corporate Objectives
  • Increase shareholder value through exploration & development of large impact mineral projects in North America and Australia
  • Build a cash flow driven resource company within 2 years through strategic development of existing and proven properties in Australia and North America
  • Continued exploration and mining of high grade, shallow gold, copper and nickel deposits in Australia
  • Development of a major gold tailings project in South Dakota
company profile
Company Profile

Goldstake Explorations Inc.:

Publicly listed, Canadian mineral exploration

and development company, 1st incorporated as

Seemar Mines Ltd. in 1966 & traded on the OTC.

Name was changed to Goldstake Explorations Inc.

in 1986 and has traded on the TSE under the

symbol GXP since 1988.

Has a diversified portfolio of precious metal

properties in Canada, the United States, Australia

and Indonesia

property portfolio
Property Portfolio

Goldstake Exploration Inc.’s business strategy has been to acquire properties meeting the following criteria:

  • Proximity to proven or probable high grade reserves
  • Shallow depth of ore deposits
  • Easy access to existing infrastructure
directors officers
Directors & Officers

Goldstake’s management & consultants are

professional mining engineers, geologists &

businessmen with many years of hands on

experience in the development & operation

of small and large scale mining companies

slide7

Directors & Officers

  • Robert B. Cleaver, Director &President

32 years of experience in precious metals exploration & mining; global network of contacts including top mining industry specialists

  • Charles L. McAlpine, Director & Secretary/Treasurer

41 years mining industry experience, director of several Canadian mining companies & of Hecla Mining Company, a major US silver/gold producer

  • Peter Froneman, Director & Audit Committee

Canadian businessman involved with the engineering equipment industry for 31 years

  • Peter Mills, Director & Audit Committee

Senior Executive with over 30 years experience in marketing, advertising & real estate in Canada and the United States

key industry consultants
Key Industry Consultants
  • Fluor Engineers; San Francisco; USA

Employed by Goldstake to verify ore reserves & prepare bankable feasibility for Whitewood Creek, South Dakota gold tailings site

  • Bateman Engineers; Denver USA – Perth Aus. Johannesburg, S.A.

Responsible for metallurgy, engineering

for the Whitewood Creek feasibility study

  • Knight Piesold Engineers; Denver USA

Designed heap leach and tailings pond at

Whitewood Creek

  • Kappes CassidyMetallurgical Engineers; Reno, USA

Executed metallurgical studies on gold tailings at Whitewood Creek property

key industry consultants cont d
Key Industry Consultants Cont’d
  • Minproc Engineers; Perth Australia

World renowned firm specializing in

Mining design processing & construction

  • Sidley & Austin, Environmental Law Firm; Washington, D.C.,USA

Responsible for dealing with EPA &

CERCLA legal requirement on

Whitewood Creek project.

Dealt with lawyer Stephen D. Ramsey

who is now V.P. - Environmental for

General Electric, USA.

key mining and development opportunities
Key Mining and Development Opportunities
  • Goldstake Explorations Inc. owns interests in 5 mining projects that have proven & probable reserves
  • All of which can be put into production, subject to feasibility, permitting & development financing
5 key goldstake properties
5 Key Goldstake Properties
  • Barrow Creek Properties – Northern Territory Australia
    • Home of Bullion (Copper, Silver, Gold, Zinc, Lead)
    • Prospect D (Copper, Nickel, Gold)
    • Prospect D “A” (Copper, Nickel, Gold)
  • Hill End – NSW, Australia (Gold)
  • Whitewood Creek – South Dakota, U.S.A (Gold)
barrow creek properties nt aus
Barrow Creek Properties(NT, AUS)
  • Located 300 KM north of Alice Springs
  • Exploration License #23186 covers 825 sq. km & is valid till August 2008

Ownership Details

  • 50% Goldstake
  • 25% Robert Cleaver, Goldstake President
  • 25% Imperial Granite & Mineral Pty Ltd, Darwin Aus. John Benger, miner/prospector

is the sole shareholder

  • Above license holders have exclusive rights to explore & obtain mining leases during license period. No formal agreement between license holders other than all parties will do their best to advance property production & each party’s investments will be repaid from production income
  • See following map (Exhibit 1) for mine locations
barrow creek properties home of bullion
Barrow Creek Properties:Home of Bullion
  • Profitable mining can be undertaken concurrently with proving up additional reserves on this massive sulphide high grade deposit
  • 5,500 tons produced in 1948 with 2,500 tons returning 22.5% Cu
  • Proven & Probable ore up to 15% Cu to 300 ft. is approximately 9 million lbs. of copper
    • 3,300 tons proven sulphide ore reserves at up to 15% Cu above 60 M
    • 33,000 tons probable oxidized ore at 4% Cu – 2% Pb to 35 M
    • 13,200 tons probable secondary ore up to 15% Cu – above 60 M
    • 33,000 tons probable ore at 6% Cu – 2% Pb – 5.10% ZN between 60-90 M
  • Recent Sampling: September 2002

Silver 9-15 ozs., Gold up to 4 dwts (or 6 gmt) & 21.4% & 33.9% copper

barrow creek properties prospect d cu ni au ag
Barrow Creek Properties:Prospect D (Cu, Ni, Au, Ag)
  • 1972, 11 diamond drill holes along a 2 km strike length to a depth of 300 ft. indicated probable resource of:

Tonnage Copper Nickel Width

Oxide 1,633,600 0.512% 0.151% 30’

Sulphide 1,530,200 0.621% 0.247% 28’

  • Drill intersections as high as 1.48% Copper, 0.48% Nickel, 215 grams silver & 5.8 grams Gold over 16.9 ft. at shallow depth (hole 7)
  • Gold & Silver values not given for most of 1972 drill results but a mining operation would produce Gold & Silver as well as Copper & Nickel
barrow creek properties prospect d a oxidised area
Barrow Creek Properties:Prospect D “A”(Oxidised Area)
  • Results of Airtrac percussion dill holes in 1972 showed:

Line 93’ W (A) surface to 103 feet

2.44% Cu 0.41% Ni

Line Zero (B) 96 feet

3.43% Cu 0.91% Ni

Line Zero (C) 54 feet

5.77% Cu 0.21% Ni

Line 100’ E (D) 96 feet

3.32% Cu 0.11% Ni

Includes 6 feet (52 to 58 feet of

23.0% Cu 0.21% Ni

hill end nsw australia au
Hill EndNSW, AUSTRALIA (Au)
  • Gold license #5801 covers 4.626 hectares (11 acres) & is valid till Dec. 2022
  • Gold license #5809 covers 3.42 hectares (9 acres) & is valid till Dec. 2022
  • Dredging license #1231 covers 40.44 hectares (90 acres), due for renewal in 2004 for 21 years
  • Hill End is the richest gold field, per ton of ore crushed, in history, with the average grade recovered over 30 oz per ton.
  • 639 lb Gold Nugget (world’s largest) mined

at Hill End in 1872

  • 1997 production at Golden Gully produced

2 oz/ton at a depth of 190 feet along a 240 foot section of one 10” wide gold bearing reef. Mining ceased when miners broke into old workings

  • There is a total of 11 gold bearing reefs in this saddle reef formation
  • Past mining restricted to a depth of 250’ due to water flows which today are no problem
  • Gold reefs are known to extend to at least 1500’
hill end cont d nsw australia au
Hill End Cont’dNSW, AUSTRALIA (Au)

Production Plan:

  • Sink a decline or vertical shaft initially to 600 ft. vertical
  • This will allow access to all 11 gold bearing reefs
  • Production target 200 tons per day for 400 ounces of gold
  • This will increase periodically due to patches of bonanza grade gold values (ie. Up to 20 ounces per ton in Cosmopolitan shaft – 1872 mine manager’s report)
hill end ownership nsw australia au
Hill End OwnershipNSW, AUSTRALIA (Au)
  • Leases owned 70% by Silver Orchid Pty Ltd, a private company registered in NSW, Australia
  • Goldstake owns 20% of shares in Silver Orchid & has no obligation to contribute funds to Hill End
  • Goldstake has an opportunity to increase ownership of leases at Hill End to 50%
  • First Tiffany Resources Corp., a Canadian public company, owns 20% interest (carried to feasibility) in the leases
  • Clarence Fowler, the original lease vendor, has a 10% interest in the leases
  • Robert Cleaver (Goldstake President) & Charles McAlpine (Director/Secretary) own 40% interest in Silver Orchid
  • Agreement that all funds contributed by all or any of the shareholders will be reimbursed from gold production revenue
whitewood creek south dakota usa gold tailings
Whitewood CreekSouth Dakota, USA (Gold tailings)
  • Proven/probable reserves of 729,000 (Goldstake owns over 250,000) with recovery costs of less than $100/ounce
  • Requires Barrick Gold participation
  • Possible 2 million ounces of gold in this project owned by Barrick and Goldstake
  • Ownership Details
    • Goldstake owns 100% of its properties
    • Strawberry Hills Mining Inc. has a 20% interest/net profits once a positive feasibility study completed
    • Strawberry must contribute to ongoing costs
    • No director of Goldstake owns shares in Strawberry
    • Strawberry is controlled by a local South Dakota prospector named Maurice Hoffman who brought the Whitewood Creek project to Goldstake in 1986
whitewood creek map
Whitewood Creek Map

PLANT RECOVERY SITE

TAILINGS REPOSITORY

section 3 exploration targets
Section 3: Exploration Targets

Goldstake has identified 4 exploration targets:

Barrow Creek Properties - NT, Australia

Mulbangas

Barrow Creek Copper Anomaly

Utopia - NT, Australia

Hemlo - Ontario, Canada

mulbangas cu
MULBANGAS (Cu)
  • Is a surface copper outcrop in Northern Territory, Australia
  • Part of a mineralized strike line of approximately 40 km North to South
  • Ownership Details
    • Same as Barrow Creek
barrow creek copper anomaly cu
Barrow Creek Copper Anomaly (Cu)
  • This magnetic anomaly was identified by an induced polarization survey conducted by the NT Government Survey
  • Ownership Details:
    • Same as Barrow Creek
utopia nt australia ta sn
UtopiaNT, Australia (Ta, Sn)
  • Located 300 km north of Alice Springs
  • Exploration License #23187 covers 1,800 square km
  • Tantalum/Tin mineralised layered pegmatite over 5 km long and 140 M wide on surface
  • Assays of up to 2 pounds tin (Sn) & 1 lb. Tantalite (Ta)
hemlo ontario canada au
HemloOntario, Canada (Au)
  • 104 acre property adjacent to and north-east of the Hemlo David Bell gold mine which is now owned by Barrick gold
  • Mining is approaching west side of the Goldstake property
  • Geological evidence suggests that Hemlo ore body dips to north and does extend into Goldstake properties

Ownership Details

  • 50% Goldstake
  • 50% Bernard Boos, Vancouver based businessman who was controlling shareholder in Seemar Mines
  • Goldstake/B. Boos own surface rights to Hemlo & pay provincial rent under 3 patented leases (approximately $120.00 per annum)
project priorities in order of importance
Project Priorities(In Order of Importance)

1) Home of Bullion (NT, Australia)

  • Develop further ore reserves on ore body.
  • Dimensions 550’ x 15’ x660’ x2.8sg.
  • Mine 500 thousand tons (approx.) whilst developing further reserves
  • Total anomaly length is over 5,000 feet
  • Cost to feasibility, $3 million Australian

2) Hill End (NSW, Australia)

  • Access all 11 gold bearing reefs at Golden Gully Hill End initially to 600 feet
  • Mine 200 TPD for 400 ounces O.P.D. at a

cash cost of approximately $80 Australian per ounce

  • Gold price in Australian dollars is $580 per ounce
  • Cost to feasibility, $3 million Australian

cont’d

project priorities in order of importance cont d
Project Priorities(In Order of Importance Cont’d)

3) Prospects D and D “A” (NT, Aus.)

  • Define ore reserves on Prospect D and D “A”.
  • Prospect D “A” could be mined by open cut from surface on high grade oxidised copper nickel to expose the underlying massive sulphide ore body (Prospect D)
  • Cost to feasibility, Prospect D $3 million Australian
  • Cost to feasibility, Prospect D “A” $1 million Australian

4) Whitewood Creek

  • Reinstate joint venture with Barrick to carry out original terms of Homestake agreement to develop and mine tailings
  • Or, lease the Barrick properties & Goldstake would mine the tailings for a cost of less than $100 US per ounce
  • Cost to feasibility, $2 million US
appendix 1 share structure
Appendix 1Share Structure
  • Issued shares 45, 860,660
  • Outstanding options exercisable up to Dec 31 2004 – 3,390,000
  • Float – approx. – 22,000,000