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Message: Goldstone's shares (GRC) are expected to trade on December 24, 2009.

Goldstone's shares (GRC) are expected to trade on December 24, 2009.

posted on Dec 22, 2009 10:22AM

Tuesday December 22 2009 - News Release


Roxmark Mines Ltd. and Ontex Resources Ltd. have combined to form Goldstone Resources Inc., a well-positioned exploration company with an extensive property portfolio in the prolific Beardmore-Geraldton greenstone gold belt. Effective Dec. 22, 2009, the companies' previously announced proposed merger was completed, with Roxmark continuing as a wholly owned subsidiary of Goldstone.

Pursuant to the transaction, Ontex also consolidated its common shares on the basis of one post-consolidation share for every three pre-consolidation shares and changed its name to Goldstone while Roxmark amalgamated with a wholly-owned subsidiary of Ontex.

Trading in Roxmark's common shares will be halted on the TSX Venture Exchange and its shares are expected to be formally delisted from the TSX-V shortly. Goldstone's common shares are expected to commence trading on a consolidated basis on the Toronto Stock Exchange under Goldstone's new symbol (GRC) on December 24, 2009.

"We are extremely appreciative of the strong support we received from our shareholders in completing this transaction," says J. Patrick Sheridan, Jr., Chief Executive Officer of Goldstone. "We look forward to pursuing a systematic and aggressive exploration program and continuing to build shareholder value."

Pursuant to the Transaction, Roxmark shareholders are receiving one post-consolidation Goldstone common share in exchange for each 3.75 common shares of Roxmark. Former Roxmark shareholders can obtain certificates for their Goldstone shares by returning their Roxmark share certificates to Equity Transfer & Trust Company in accordance with the instructions set out in the joint information circular dated November 18, 2009 and letter of transmittal mailed to shareholders.

Upon completion of the Transaction and the share consolidation, Goldstone has 98,114,593 common shares issued and outstanding and approximately 108,475,933 common shares on a fully diluted basis.

Board and Management Goldstone's management is comprised of Gary Conn, Chairman, Chief Operating Officer and Treasurer, J. Patrick Sheridan, Jr., Chief Executive Officer, Monir Younan, President, and George Harrison, Chief Financial Officer. Mr. Younan, former President and Chief Executive Officer of Roxmark, was appointed President of Goldstone, effective with the completion of the Transaction.

Joining Ontex directors Gary Conn, J. Patrick Sheridan, Jr. and Alan Ferry on the company's expanded board are Philip Cunningham, Jeffery Elliott and James Richardson, former Roxmark directors, and Richard Williams. The new directors were elected to the board, effective upon completion of the Transaction, at the recent Ontex special shareholders meeting.

Goldstone would like to thank its outgoing board members Denis Crane and Rob Montemarano for their valuable and dedicated service to the company and Roxmark would like to acknowledge the efforts and contributions of its outgoing director Thomas Atkins.

Goldstone Highlights

The Transaction is expected to provide significant benefits for shareholders of Goldstone, including:

·consolidation of properties in the prolific Beardmore-Geraldton camp, pooling of gold resources, and significant synergies in exploration and development;

·greater market presence;

·diversification of risk;

·a combined board of directors and management team, drawing on the strengths of each company;

·enhanced liquidity, capital market profile and financial strength in challenging times;

·operating efficiencies leading to significant cost reductions;

·a strong position from which to participate in the anticipated future consolidation in the Canadian gold industry; and

·access to Roxmark's Northern Empire Mill Complex.

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