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Company Profile September 2005

Company Profile September 2005 Corporate Objectives Increase shareholder value through exploration & development of large impact mineral projects in North America and Australia

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Company Profile September 2005

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  1. Company Profile September 2005

  2. 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 gold tailings project in South Dakota • Development of its high grade gold and diamond project in Ontario, Canada (McGarry)

  3. 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 and base metal properties in Canada, the United States and Australia.

  4. 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

  5. The McGarry Project:Goldstake’s Premier Canadian Property • Gold • The project lies one mile northwest of the Kerr-Addison Mine, which produced approximately 11 million ounces of gold historically. Goldstake holds an option to earn a 75% interest on the 4000 acre property. • A March/April, 2005 9-hole diamond drilling program produced outstanding intersections of gold at shallow open cuttable depths. • The highlight was hole #11, on the south zone, which recovered a spectacular 33.29 gt. au over 8.76 m. (0.97 oz. au per ton over 28.7 ft.), including 1078.97 gt. (31.47 oz. per ton) over 0.19 m. (0.6 ft.) from 93.92 m. to 102.68 m. • Hole #9 intersected 212.52 gt. au over 0.39 m. (6.2 0z. au per ton over 1.3 ft.) expanding to 28.66 gt. au over 3 m. (0.84 oz. au per ton over 9.8 ft.) from 80 m. to 83 m. • All 9 drill holes encountered gold. The true width of all intersections are yet to be determined. • Diamonds • Previous exploration has discovered small diamonds on the “down ice” (south) side of the property, and a cluster of circular magnetic anomalies in close proximity to and “up ice” of these discoveries, will be bulk sampled by Goldstake. • A NI 43-101 Report, together with a full report on the 2005 exploration results, by Ernest Gallo, is filed on SEDAR.

  6. KEY MINING AND DEVELOPMENT OPPORTUNITIES Goldstake Projects

  7. 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

  8. Directors & Officers • Robert B. Cleaver, Director &President 35 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

  9. Key Industry Consultants • Fluor Engineers; San Francisco; USA • Employed by Goldstake to verify ore reserves & prepare bankable feasiblity 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

  10. Key Industry Consultants Cont’d • 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.

  11. Key Goldstake Properties 1. Barrow Creek Properties – Northern Territory Australia Home of Bullion (Copper, Silver, Gold, Zinc, Lead) Prospect D (Copper, Nickel, Gold) 2.McGarry – Ontario, Canada (Gold, Diamonds) 3. Hill End – NSW, Australia (Gold) 4. Whitewood Creek – South Dakota, U.S.A (Gold)

  12. Barrow Creek Properties(NT, AUS) • Located 300 KM north of Alice Springs • Exploration License #23186 covers 825 sq. km & is valid till August 2008 • Property Development: • Exploration License (EL) #23186 has been split in half. The northern half (Prospect D) has been joint ventured (JV) to Mithril/Falconbridge. The JV is currently spending $5 million Aus. to earn a 75% interest in this Nickel/Copper/Gold property. • The Southern half of EL #23186 contains the Home of Bullion Mine. Previous production on Home of Bullion is 2,500 tons of 22.5% Copper. • Asarco (US) and EZ Industries Ltd. (Australia) estimated a resource of 126,000 tons of 15% Copper. Recent work on this property includes a geological assessment indicating that $150,000 Aus. should be spent to verify the 126,000 tons, consequently enabling this resource to enter production at a cost of approximately $5 million Aus.

  13. Barrow Creek Map

  14. Barrow Creek Properties:Home of Bullion • Home of Bullion Mine is 50% owned by Goldstake. The mine has produced 2,500 tons of 22.5% copper. A report by ASARCO (US) and EZ INDUSTRIES (pre NI 43-101) estimates a resource of 126,000 tons of 15% copper from surface to a depth of 210 ft. • An estimated 7000 tons of 10% grade copper is stockpiled at surface. • Goldstake and its joint ventures partners plan to diamond drill 9 Holes (900 metres total) to confirm these historical reserves and then commence open-pit mining for recovery of the copper, silver, lead and zinc in this deposit, concurrently carrying out drilling to extend the reserves on this “Main” reef, and developing further resources on a cluster of reefs exposed on the surface in close proximity to the “Main” reef.

  15. Home of Bullion Map

  16. Barrow Creek Properties:Prospect D (Cu, Ni, Au, Ag) • Goldstake owns 50% of this properrty which is approx. 30 kms. from the Home of Bullion Mine. • An agreement with Mithril Resources and Falconbridge allows their joint venture to earn a 75% of Prospect “D” by spending $5 million [by July 2007] and paying $200,000 cash to GXP and partners after spending the first $1 million. • As at October 31, 2005, approx. $800,000 has been spent. • Pre NI 43-101 Drill Indicated Reserves: • 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

  17. 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), renewed in July 2005 for 10 years. • Hill End is the richest gold field, per ton of ore crushed, in history with average grades recovered of over 30 oz per ton. • 639 lb Holterman and Beyers 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 system. • 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’

  18. 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)

  19. 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

  20. Hill End Map

  21. Hill End Development Plan

  22. Hill End Cross Section

  23. Whitewood CreekSouth Dakota, USA (Gold tailings) • Proven/probable reserves of 729,000 (Goldstake owns over 250,000) with recovery costs of approx. $100/ounce • Over 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

  24. Whitewood Creek Map PLANT RECOVERY SITE TAILINGS REPOSITORY

  25. Section 3: Additional Exploration Targets • Mulbangas 50% • Is a surface copper outcrop in Northern Territory, Australia • Part of a mineralized strike line of approximately 40 km North to South • Barrow Creek Copper Anomaly 50% • This magnetic anomaly was identified by an induced polarization survey conducted by the NT Government Survey. • Utopia - NT, Australia 50% • Located 300 km north of Alice Springs • Exploration License #24355 covers approx. 500 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)

  26. 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)

  27. Hemlo Map

  28. Appendix 1Share Structure • Issued shares 59,358,160 • Outstanding options– 9,000,000 • Outstanding warrants—2,531,250 • Float – approx. – 30,000,000

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