Toronto, Canada – September 5, 2007. Goldstake Explorations Inc, Toronto Stock Exchange[ Symbol, GXP], Frankfurt Stock Exchange [ Symbol GOO], having completed its claim acquisitions on 4 uranium areas in the Bancroft region, is pleased to now disclose details of its new 100% owned projects ; Historical sampling of the South Canonto claims (832 hectares) covers a potential large tonnage uranium/thorium/rare earth deposit with values reported up to 9.8 lbs. uranium oxide (U 308), 36 lbs. thorium [Th] and 10 lbs. per ton rare earth oxides [ree], of which 9.2 lbs. per ton are oxides of lanthanum, cerium, neodymium, praseodymium and yttrium.
Historical exploration, circa 1970, included detailed scintillometer survey and 88 shallow pits being blasted and sampled below the overburden on the higher outcrops, was described at that time as covering an area ¼ mile square. Geiger-counter reconnaissance over 40 claims adjoining the discovery area indicates the uranium-bearing zone has a strike length of 3 miles and a width from ¼-1/2 mile.
All 4 of the new properties cover gamma-ray radiometric anomalies discovered by an airborne survey, completed in 2004 by the Geological Survey of Canada (GSC). The radiometric survey was completed well after the major events of historical uranium exploration in the 1980’s. Goldstake is of the opinion that the uranium potential of these gamma- ray anomalies has not been examined.
All of the properties are underlain by foliated to gneissic granite intrusions and paragneissic metasediments intruded by late-stage granite and syenite pegmatite dykes. Uranium mineralization in this Grenville Province has been found in many different rock types. The majority of the occurrences are related to hydrothermal alteration zones associated with late-stage pegmatite dykes and late-stage faulting. There is evidence suggesting that the region has undergone several events of uranium deposition.
Mr. Robert Dillman, P.Geo is the Qualified person for this report.
Utah Uranium.
Applications for “Plan Of Work” on the Henry Mountain “Woodruff” claims, [approximately 6 miles by 2 miles] the “Shelley” claims, [ approximately 1 square mile] the “Point” claims [ approximately ¾ square miles] and the “Bobs” claims, [approximately 3 square miles] have been approved by the US Bureau of Land Management [BLM] and are currently being registered with the State of Utah.
A highly experienced and qualified uranium geologist is in the process of finalizing a report on the Henry Mountain [Woodruff, Shelley and Point claims]. All claims have been paid for and renewed for 12 months from the 1st of September 2007.
Goldstake Explorations Inc is a Canadian company, listed on the Toronto, Canada, and Frankfurt, Germany, stock exchanges. Goldstake is a mining exploration and development company with projects in Canada, Australia and the United States.
It is Goldstakes’s policy to operate only in countries with little or no” Sovereign Risk” attached to security of land tenure.
Robert Cleaver 416 201-9223
Goldstake Office 905 829-3393
Web Site: gxp@goldstake.com
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