Majestic Announces Strategic Investment in Goldstone Resources Limited
MAJESTIC ANNOUNCES STRATEGIC INVESTMENT IN
GOLDSTONE RESOURCES LIMITED
Vancouver, British Columbia – July 6, 2026 – Majestic Gold Corp. (TSX.V: MJS, FSE: A0BK1D) (the
“Company”) is pleased to announce that, through Persistence Gold Group Ltd. (“Persistence Gold”), its
58.75%-held subsidiary, it has entered into an investor agreement with Gold Stone Resources Limited
(“GoldStone”), a company incorporated in Jersey with limited liability and listed on the AIM market of the
London Stock Exchange.
Pursuant to the investor agreement, Persistence Gold Group Ltd. has agreed to acquire 351,594,899 ordinary
shares of GoldStone at a price of £0.01 per share for total consideration of £3,515,948.99 (approximately
CAD$6,668,068), representing an approximately 20.96% equity interest in GoldStone following completion
of the investment. In connection with the investment, Persistence Gold will have the right to nominate one
representative to the board of directors of GoldStone, for so long as the Persistence Gold retains an interest
of 15% or more in the GoldStone’s ordinary Shares.
The investment represents Majestic’s first strategic investment outside of China and is consistent with the
Company’s strategy of evaluating opportunities to diversify its asset base and gain exposure to mining and
exploration opportunities in additional j urisdictions. The board of directors of the Company believes that
GoldStone has potential for further development and that the investment provides an opportunity to expand
the Company’s exposure to gold resources, diversify its operations and participate in mining exploration and
development in Africa.
GoldStone is a mining and exploration company focused on the Ashanti Gold Belt in Ghana, West Africa.
GoldStone’s primary assets include the Homase Gold Mine and the Akrokeri Underground Gold Mine,
which are situated approximately 20 kilometres along strike north of the Obuasi Gold Mine (a third-party
mine), as well as having entered into a binding MoU to acquire a 50% interest in a gold project in Sierra
Leone, located adjacent to the Boamuhun Gold Mine (a third-party mine).
The Homase Mine is currently an operating open-pit mine exploiting the oxide portion of the deposit using
heap leach processing. Based on GoldStone’s public disclosure, the Homase Mine has a combined measured,
indicated and inferred JORC-compliant resource of approximately 10.6 million tonnes at an average grade
of 1.77 g/t gold, representing approximately 600,000 ounces of gold. Mineral Resources have an effective
date of October 30, 2012. The Qualified Person responsible for the Mineral Resource estimate is Mr. Andrew
Netherwood (AusIMM) and Simon Meadows Smith (IOM3).
The Akrokeri Mine was historically operated as a high-grade underground mine and produced approximately
75,000 ounces of gold at a recovered average grade of approximately 24 g/t gold before operations ceased
in 1909. The Homase and Akrokeri licences contain approximately 4.4 kilometres of identified mineralized
strike length, with additional parallel gold -bearing structures identified through historical drilling. These
additional targets remain underexplored, with the most recent drilling completed in 2012.
306 - 1688 152nd Street
Surrey, British Columbia
Canada, V4A 4N2
Telephone: 604-560-9060
Facsimile: 604-560-9062
Email: [email protected]
The proceeds from the investment are expected to be used by GoldStone for the further advancement of the
Homase Mine, including drilling below and around the Homase Mine with the objective of upgrading the
project’s resource base and commencing a feasibility study in respect of the potential exploitation of sulphide
ore.
For further information please visit GoldStone Resources’ website: https://www.goldstoneresources.com.
Qualified Person
Stephen Kenwood, P.Geo., is a qualified person as defined by National Instrument 43 -101 — Standards of
Disclosure for Mineral Projects and has reviewed and approved the technical information contained in this
news release.
About Majestic Gold Corp.
Majestic Gold Corp. is a junior gold producer engaged in commercial gold production in eastern Shandong
Province, China, with mining operations at its Songjiagou Gold Mines and the Mujin Gold Project.
Additional information on the Company and its projects is available at www.sedarplus.ca and on the
Company's website at www.majesticgold.com.
For further information, please contact:
James Mackie, Chief Financial Officer & Corporate Secretary
Telephone: (604) 560-9060
Email: [email protected]
www.majesticgold.com
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning
of applicable securities legislation, including statements regarding the completion of the investment in
GoldStone, the expected ownership interest in Gold Stone following completion of the investment, the
Company’s right to nominate a representative to the board of directors of Gold Stone, the expected use of
proceeds by Gold Stone, the potential advancement and development of Gold Stone’s mineral projects, the
potential upgrading of mineral resources, the potential commencement of a feasibility study, and the
Company’s strategy of evaluating opportunities outside of China.
Forward-looking statements are based on management’s expectations and assumptions as of the date hereof
and are subject to risks and uncertainties that may cause actual results to differ materially from those
anticipated. Such risks and uncertainties include, but are not limited to, risks that the investment may not be
completed on the terms currently anticipated or at all, risks associated with investing in foreign jurisdictions,
risks associated with mining exploration and development activities, risks re lating to the accuracy and
completeness of third-party disclosure, changes in commodity prices, regulatory risks, market conditions,
changes in business objectives and other risks and uncertainties. Readers are cautioned not to place undue
reliance on forward-looking statements. The Company undertakes no obligation to update such statements
except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the
policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this news
release.