A general Cease Trade Order has been imposed as the Company failed to satisfy the provisions of the Alternative Information Guidelines required pursuant to NP 12-203 (the "Alternative Information Guidelines").

The Company plans to work with its auditors, when possible, to complete the audit of the Company's Annual Financial Statements as soon as possible. Until its Annual Materials are filed, the Company intends to satisfy the Alternative Information Guidelines by issuing bi-weekly Default Status Reports, each of which will be issued in the form of a press release. The Company intends, if applicable, to issue its next Default Status Report on April 21, 2010.

There has not been any other specified default by the Company under NP 12-203, nor are any anticipated and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans and the Company's expectation with respect to the timing of completion of the Company's annual audit, the expected time for filing the Company's annual audited financial statements, related MD&A and the AIF and the imposition of a cease trade order by applicable securities commissions or regulators. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

For more information, please contact

Goldstake Explorations Inc.

2150 Winston Park Drive, Suite 204

Oakville, Ontario, L6H 5V1 Canada

(905) 829-3393

(905) 829-2968 (FAX)

gxp@goldstake.com

True widths have not been calculated.

Assays were performed by Etate de compte de Laboratoire Expert Inc of Val-d'Or, Quebec.

Structural measurements on chalcopyrite-rich veins associated with gold in orientated diamond drill cores indicate a stacked series of three major and at least three minor gold-bearing veins that trend southeast and dip north at about 45°. This vein set extends for approximately 100m laterally and to a depth of at least 130m below surface.

Significant silver and copper values were found in the following drill holes:

On February 16, 2010 Goldstake received a letter from the Toronto Stock Exchange stating that "The Company is being reviewed under the Remedial Review Process and has been granted 120 days to comply with all requirements for continued listing. If the Company cannot demonstrate that it meets all TSX requirements set out in Part V11 of The Toronto Stock Exchange Company Manual on or before June 16 2010, the Company's common shares will be delisted 30 days from such date."

A news release to this effect from the TSX was issued on February 17, 2010.

There is no guarantee that the Company will be able to comply with the TSX request and the Company's shares may be delisted.

In the event that this happens, the Company will seek a listing on an alternative exchange to try to preserve the capability of shareholders to trade the Company's shares if they are so inclined. There is no guarantee that an alternative listing will be achieved.

The Company has a number of valuable assets at varying stages of exploration and development, and is seeking funding to put these projects into production.

At this stage there is no guarantee that the Company will be able to continue as a going concern unless it can raise capital or sell part of its assets in the next 60 to 90 days.

An application to the TSX in November 2009 to allow a private placement of up to $1 million for shares at 4 cents per share, under the "Financial Hardship Rules", was unable to proceed.

Goldstake Explorations Inc. is a Canadian exploration and development company with gold, base metal, uranium and diamond projects in Canada, the USA and Australia.

This press release was approved by Geologist Dr. Alan L. Watchman, P.Geo, acting qualified person for Goldstake as defined by National Instrument 43-101.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections.

For more information, please contact

For further information on any of Goldstake's mineral
properties, corporate structure and corporate vision:
Goldstake Explorations Inc.
Robert Cleaver
416-201-9223
rcleaver@goldstake.com
or
Goldstake Explorations Inc.
Goldstake Office
905-829-3393

Proceeds from the Proposed Financing will be used to sustain the Company's current drill program at its Clay Project and to sustain the Company for at least another six months.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans and the Company's expectations with respect to the completion of the Proposed Financing, the use of proceeds raised thereunder and the impact of the Proposed Financing on the Company's financial condition. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, obtaining the approval of the TSX to rely on the financial hardship exemption from the requirement to obtain shareholder approval with respect to the Proposed Financing. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

CONTACT INFORMATION:

Goldstake Explorations Inc.
Robert Cleaver
416-201-9223
rcleaver@goldstake.com

or

Goldstake Explorations Inc.
Charles McAlpine
705-732-4452

or

Goldstake Office
905-829-3393

or

AGORACOM
Investor Relations
GXP@Agoracom.com
http://agoracom.com/ir/goldstake

Clay Project: Gold, Diamonds

Kirkland Lake region, 1 mile from the 11 million ounce Kerr-Addison Gold Mine. Goldstake's best gold drill intersection is 33 grams/ton gold over 9 metres (0.95 ounces per ton over 29.5 feet) at a hole depth of 94.6 metres (E Gallo PGeo. NI 43-101 Report 2005).Goldstake has earned 60% of this 4,000 hectare project and may spend $885,000 by December 31, 2010 to acquire a further 15% for a total of 75% and pay an option extension fee of $75,000 for which Goldstake will issue 1,875,000 shares to Transpacific Resources Inc. (TPR) at 0 .04 per share, subject to TSX approval.

In addition to gold, Goldstake is exploring for kimberlite and diamonds on the Clay Property. Kimberlite indicator minerals occur in glacial till and stream gravels on the property and there are historic reports of several small diamond finds dating back to the early 80's. Goldstake has narrowed down the possible source areas for the kimberlite minerals by employing detailed ground magnetometer surveys, bulk till sampling, extensive microprobe analysis of kimberlite minerals and drill-tested several circular magnetic features on the property.

Home of Bullion (HOB): Copper, Lead, Zinc, Gold, Platinum Group Metals (PGMs)

HOB, located at Barrow Creek, NT, Australia, 50% ownership.

Historically estimated 309,000 tons at 13% copper (40,000 tons of copper metal) from surface to 95metres depth. (C. T. Madigan, PhD).

Previous production recorded 2,500 tons at 22.5% copper, hand-cobbed from total mined 10,000 tons (NT Mines Dept.).

Estimated 7,000 tons at 10% copper on surface.

A qualified person has not done sufficient work to classify these historical estimates as current mineral resources, Goldstake is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

Exploration report submitted to Mines Dept. and variation of expenditure covenant approved in August, 2009.

The Northern Territory Government is presenting Home Of Bullion, on behalf of Goldstake, to Chinese resource companies in China during October 2009, to obtain funding to develop resources and production.

Prospect D: Nickel, Copper, Gold, Silver

Barrow Creek, NT, Australia. 50% owned by Goldstake. Resource estimated from previous drilling 3.2 million tons at 0.2% nickel and 0.6% copper 9metres wide, along a strike length of 2 kilometres (NT Mines Dept./Kewanee Oil). Best diamond drill intersection 1971- 1.48% nickel and 1.22% copper over 2.4 metres, including 4.65% nickel and 1.4% copper over 0.91metres at 102 metres depth. One only drill hole intersection assayed for gold returned 4.2 grams per ton gold over 5.5 metres.

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, Goldstake is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

BHP/Mithril identified several major conductors close to the estimated resource. These conductors are priority drill targets. BHP/Mithril best diamond drill intersection in September 2004 was: 1.22% nickel, 8.27% copper, and 26.2 grams silver over 0.35 metres at a depth of 135 metres.

The NT Government is presenting Prospect D to Chinese resource companies in China, on behalf of GXP, in October 2009, to obtain funding to develop resources and production .

Hill End Golden Gully: Gold.

Located at Hill End, NSW, Australia. Goldstake 14% indirect carried interest. Leases in good standing. Environmental report will be submitted in compliance on October 21, 2009.

New headframe and infrastructure is in place to rehabilitate the 80 metre "Cosmopolitan" Shaft to access the reported 20 ounces per ton gold production on that level in 1872 when the shaft was abandoned due to flooding. ( Archived Mine Manager's report from 1872 ).

Utah, USA Vanadium, Uranium

Located near Hanksville, Utah. Goldstake 50%.

In the U.S., all mining claims must be renewed on Sept. 1 each year, or claims are cancelled.

Goldstake and partner, Dennis Ekker, have renewed 56 of their original 154 claims.

Goldstake /Ekker have staked an additional 84 claims containing high grade vanadium/uranium, which have not been renewed by previous claim holders. Many of these claims were mined by Mr. Ekker and his father and produced high-grade vanadium and uranium. Sales receipts from Climax Uranium Company, in 1954, to Mr. Ekker record grades of 4% vanadium (V205) per ton and 2.71% uranium (U308) per ton mined on Goldstake's claims.

Goldstake Explorations Inc. is a Canadian exploration and development company with gold, base metal, uranium and diamond projects in Canada, The USA and Australia. The Clay Property is one of two properties Goldstake has in the Kirkland Lake-Larder Lake section of the Abitibi greenstone belt.

Disclaimer; Goldstake must raise capital within the next 60 to 90 days or it may not be able to trade as a going concern, and in that event, it would be suspended from its Toronto Stock Exchange listing. Goldstake is attempting to raise capital by the sale or joint venture of its properties, and it is also currently awaiting a decision from a potential investor to take a private placement of shares. There is no guarantee that capital will be raised within the 60 to 90 day time frame from any of these sources.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections.

For more information, please contact

Goldstake Explorations Inc.
Robert Cleaver 416-201-9223
Charles McAlpine 705-732-4452
Goldstake Office 905-829-3393
Email: rcleaver@goldstake.com

or

AGORACOM
Investor Relations
Email: GXP@Agoracom.com
Website: http://agoracom.com/ir/goldstak

In an effort to keep you up to date on all pertinent information regarding the resource sector and more specifically gold bullion, please see the following video regarding Gold.

http://www.youtube.com/watch?v=Oxg5J7ZjF3E

Regards,

AGORACOM

Dear Goldstake Shareholders,

In our ongoing efforts to provide market information and/or commentary, we are pleased to provide you, with Industry Sector Bulletins discussing current market opinions regarding Gold.

Regards,
AGORACOM

Job woes? Experts say gold mining to become a growth industry amid recession

By Amy Fuller – 23 hours ago

Job seekers watching employment prospects wither and lay-offs mount amid the recession might consider joining the gold rush, and a northern Ontario school is hoping to educate that next wave of underground workers.

Many investors see gold as a hedge against inflation - when the dollar sheds value and can't buy as much, people hoard gold. In recent years, the price has hovered under US$1000 an ounce.

Mining consultant Alan Gorman says base metal prices dropped considerably after the economy collapsed last year. Now, companies are doing more exploration for gold, hoping to revive old mining sites or find new ones in Canada and Africa.

Gorman says companies like Vale Inco, Xstrata and Teck Cominco that primarily produce base metals have either closed mines or made cutbacks over the last nine months. Those that focus on gold, such as Barrick Gold Corp. and Kinross Gold Corp., are "on the upswing."

"In terms of new employment, I'd say you'll probably see more happening with the gold companies."

Someone has to extract the precious metal, and it's not a matter of simply shaking a pan and plucking out the nuggets.

The northern Ontario town of Haileybury is home to a mining school that hopes to benefit from a spike in applications as the gold sector enjoys a bull market.

Don Hillier, a professor at the Haileybury School of Mines about three hours northeast of Sudbury, Ont., runs a mining engineering technician program that prepares students for careers ranging from entry-level to management.

Over the course of two years, students complete modules by watching lectures and reading study guides online. Subjects include math, physics and chemistry, as well as technical communication and safety.

"A mine is like a miniature city," Hillier says, explaining the emphasis on technical coursework. "They can have their own water treatment plant, garages, and some even have their own hydro facilities."

Mines employ a variety of people, from engineers to pipe fitters to welders, "not just mining people per se," Hillier says. "They constitute only about one per cent of the overall workforce."

Until two years ago, the technician program required that students study at the Haileybury campus of Northern College of Applied Arts and Technology. Now, students enrol from as far afield as the Northwest Territories or Alberta.

In many cases, they continue with full-time jobs and study part-time, travelling to Haileybury only two weeks per year for the practical portion of the program.

The new online format is modelled after a graduate mining engineering program at the Missouri University of Science and Technology. Hillier says it works well for parents with school-age kids who can study without uprooting their children.

While he would like to incorporate more hands-on learning, it's difficult to arrange. Students have to take time off work and travel long distances to attend.

In May, three students graduated from the re-vamped technician program. The inaugural class began with 22, but many are studying part-time and will take longer than two years to finish.

Graduate Pamela Sword of Thunder Bay, Ont., came to the program in her mid-40s after a 25-year career as an insurance underwriter. Tired of adjusting to multiple buyouts, she took a voluntary severance package and enrolled at Haileybury.

Online study allowed moves to Sudbury, Marathon and Thunder Bay, Ont., so her husband could focus on his career as a mining co-ordinator. Sword also chose Haileybury for its emphasis on geology, a personal fascination.

She says the program is a good option for people who have been laid off from other sectors, particularly if they have technical experience or live in remote areas with mine facilities nearby. Sword had no technical background and found the math requirements difficult. She studied close to 12 hours a day and graduated with honours.

For the hands-on portion of the program, students wear mine lamps, hard hats, steel-toed boots and reflective overalls. They venture into an old exploration adit, a horizontal tunnel drilled in the side of a hill, to practise checking for loose material and surveying.

"We learned that bats look really large when you're looking through the scope of a total station," Sword says, laughing.

Graduates of the technician program without previous mining experience can expect a starting wage of $45,000 a year, or a minimum of $20 an hour, Hillier says. Companies generally offer bonuses or extra compensation for working in isolated areas.

Sword is now three weeks into a job as a geologist technician with Australian-based Magma Metals Ltd. She says Magma is exploring for precious metals such as gold, platinum, nickel and copper.

"They have a really good showing here in Thunder Bay."

Sword said she loves spending her days with a geologist at camp sites, looking for and identifying minerals.

"When you get magma intrusions and it changes the rock and minerals leak out, it's just, wow."

The work environment is a big change, though. During her first week, she used a four-wheeler to back a boat into a lake with mineral deposits at the bottom. She also carries 20-to 30-kilogram boxes full of rocks.

"Technicians get to do all the hard stuff," she says.

Cambrian College in Sudbury offers a similar two-year mining engineering technician program. Students at Cambrian can extend their studies by one year to study geological engineering technology or mining engineering technology.

Link to Article

In an effort to keep you up to date on all pertinent information regarding the resource sector, please see the attached article titled; “Gold jumps above $970/oz as dollar weakens.”

Regards,

AGORACOM Investor Relations

Click here to view article in its entirety.

Gold jumps above $970/oz as dollar weakens

Precious metal climbs to firmest level since late February

Jan Harvey

LONDON — Reuters, Friday, May. 29, 2009 06:42AM EDT

Gold on Friday rallied through $970 (U.S.) an ounce for the first time since February in Europe as traders bought the metal as a hedge against weakness in the U.S. dollar.

Rising oil prices, reports of a pick-up in Middle Eastern demand, and firm buying in India, the world's biggest gold consumer, during the wedding season are also supporting prices, analysts said.

Spot gold was bid at $972.60 an ounce at 0923 GMT, against $958.80 an ounce late in New York on Thursday.

TORONTO, ONTARIO - (May 15, 2009) - Goldstake Explorations Inc. ("Goldstake" or the "Company") (TSX:GXP)(FRANKFURT:GOO) is providing this bi-weekly Default Status Report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On March 31, 2009, the Company announced that there would be a short delay in filing its Annual Audited Financial Statements ("Annual Financial Statements"), Management Discussion & Analysis ("MD&A") and Annual Information Form ("AIF") for the Company's financial year ended December 31, 2008 (collectively, the "Annual Materials") within the 90 day period prescribed for the filing of the Annual Materials for reasons disclosed within that announcement.

In accordance with NP 12-203, and as previously announced, the Company applied to the applicable securities commissions and regulators for a Management Cease Trade Order related to the Company's common shares to be imposed against certain of the Company's executive officers. On April 8, 2009, the Ontario Securities Commission (the "OSC") issued a temporary Management Cease Trade Order which imposes restrictions on the Chief Executive Officer and the Chief Financial Officer of the Company with respect to trading in and acquiring securities of the Company for a period of fifteen days. On April 20, 2009, the OSC issued a Management Cease Trade Order which extends the restrictions imposed on the Chief Executive Officer and the Chief Financial Officer of the Company until two full business days after the Annual Materials and all other documents required to be filed have been filed.

If the Annual Materials are not filed by May 31, 2009, the applicable securities commissions or regulators may impose a general Cease Trade Order. A general Cease Trade Order may be imposed sooner if the Company fails to satisfy the provisions of the Alternative Information Guidelines required pursuant to NP 12-203 (the "Alternative Information Guidelines").

The Company is working with its auditors to complete the audit of the Company's Annual Financial Statements as soon as possible and anticipates filing the Annual Materials by May 29, 2009. Until its Annual Materials are filed, the Company intends to satisfy the Alternative Information Guidelines by issuing bi-weekly Default Status Reports, each of which will be issued in the form of a press release. The Company intends, if applicable, to issue its next Default Status Report on May 29, 2009.

The Company also announces that there will be a short delay in filing its interim financial statements and related management discussion & analysis for the Company's interim period ended March 31, 2009 (collectively, the "Interim Materials") within the 45 day period prescribed for the filing of the Interim Materials as required by National Instrument 51-102 Continuous Disclosure Obligations. The Company intends to file the Interim Materials as soon as practicable after it files the Annual Materials.

The Company reports that since its original announcement on March 31, 2009 (the "Notice") in respect of the delay in filing its Annual Materials, there have been no material changes to the information provided in the Notice other than as described herein nor any failure by the Company in fulfilling its stated intentions with respect to satisfying the Alternative Information Guidelines. In addition, there has not been any other specified default by the Company under NP 12-203, nor are any anticipated and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans and the Company's expectation with respect to the timing of completion of the Company's annual audit, the expected time for filing the Company's Annual Materials and Interim Materials, and the imposition of a cease trade order by applicable securities commissions or regulators. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

For more information, please contact

TORONTO, ONTARIO-(May 1, 2009) - Goldstake Explorations Inc. ("Goldstake" or the "Company"), Toronto Stock Exchange (Symbol GXP), Frankfurt Stock Exchange (Symbol GOO) (TSX:GXP)(FRANKFURT:GOO), is providing this bi-weekly Default Status Report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On March 31, 2009, the Company announced that there would be a short delay in filing its Annual Audited Financial Statements ("Annual Financial Statements"), Management Discussion & Analysis ("MD&A") and Annual Information Form ("AIF") for the Company's financial year ended December 31, 2008 (collectively, the "Annual Materials") within the 90 day period prescribed for the filing of the Annual Materials for reasons disclosed within that announcement.

In accordance with NP 12-203, and as previously announced, the Company applied to the applicable securities commissions and regulators for a Management Cease Trade Order related to the Company's common shares to be imposed against certain of the Company's executive officers. On April 8, 2009, the Ontario Securities Commission (the "OSC") issued a temporary Management Cease Trade Order which imposes restrictions on the Chief Executive Officer and the Chief Financial Officer of the Company with respect to trading in and acquiring securities of the Company for a period of fifteen days. On April 20, 2009, the OSC issued a Management Cease Trade Order which extends the restrictions imposed on the Chief Executive Officer and the Chief Financial Officer of the Company until the Annual Materials are filed.

If the Annual Materials are not filed by May 31, 2009, the applicable securities commissions or regulators may impose a general Cease Trade Order. A general Cease Trade Order may be imposed sooner if the Company fails to satisfy the provisions of the Alternative Information Guidelines required pursuant to NP 12-203 (the "Alternative Information Guidelines").

The Company is working with its auditors to complete the audit of the Company's Annual Financial Statements as soon as possible and anticipates filing the Annual Materials by May 29, 2009. Until its Annual Materials are filed, the Company intends to satisfy the Alternative Information Guidelines by issuing bi-weekly Default Status Reports, each of which will be issued in the form of a press release. The Company intends, if applicable, to issue its next Default Status Report on May 15, 2009.

The Company reports that since its original announcement on March 31, 2009 (the "Notice") in respect of the delay in filing its Annual Materials, there have been no material changes to the information provided in the Notice other than as described herein nor any failure by the Company in fulfilling its stated intentions with respect to satisfying the Alternative Information Guidelines. In addition, there has not been any other specified default by the Company under NP 12-203, nor are any anticipated and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

Goldstake Obtains Extension of Clay Property

Transpacific Resources Inc., ("TRNP") has granted an extension of one (1) year until December 31, 2010 to the Company to complete the balance of the Company's expenditure requirement of $1,000,000 for an additional 15% interest in the Clay property at Virginiatown, Ontario.

In consideration of TRNP granting this extension, the Company will pay $75,000 in cash or equivalent in the Company's common shares to TRNP, the issue of common shares being subject to regulatory approval.

The Company has earned a 60% interest in the Clay property since 2003 based on expenditures by the Company of $1,780,000 ($375,000 of which was in the form of common shares of the Company issued to TRNP in 2003 and 2005).

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans and the Company's expectation with respect to the timing of completion of the Company's annual audit, the expected time for filing the Company's annual audited financial statements, related MD&A and the AIF and the imposition of a cease trade order by applicable securities commissions or regulators. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

CONTACT INFORMATION:

Goldstake Explorations Inc.

Robert Cleaver

(416) 201-9223

Email: rcleaver@goldstake.com

or

Goldstake Explorations Inc.

Charles McAlpine

(416) 801-4221

TORONTO, ONTARIO-(April 17, 2009) - Goldstake Explorations Inc. ("Goldstake" or the "Company") (TSX:GXP)(FRANKFURT:GOO), is providing this bi-weekly Default Status Report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On March 31, 2009 the Company announced that there would be a short delay in filing its Annual Audited Financial Statements ("Annual Financial Statements"), Management Discussion & Analysis ("MD&A") and Annual Information Form ("AIF") for the Company's financial year ended December 31, 2008 (collectively, the "Annual Materials") within the 90 day period prescribed for the filing of the Annual Materials for reasons disclosed within that announcement.

In accordance with NP 12-203, and as previously announced, the Company has applied to the applicable securities commissions and regulators for a Management Cease Trade Order related to the Company's common shares to be imposed against certain of the Company's executive officers. Such an order does not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the securities of the Company. If the Annual Materials are not filed by May 31, 2009, the applicable securities commissions or regulators may impose a general Cease Trade Order. A general Cease Trade Order may be imposed sooner if the Company fails to satisfy the provisions of the Alternative Information Guidelines required pursuant to NP 12-203 (the "Alternative Information Guidelines").

The Company is working with its auditors to complete the audit of the Company's Annual Financial Statements as soon as possible and anticipates filing the Annual Materials by May 29, 2009. Until its Annual Materials are filed, the Company intends to satisfy the Alternative Information Guidelines by issuing bi-weekly Default Status Reports, each of which will be issued in the form of a press release. The Company intends, if applicable, to issue its next Default Status Report on May 1, 2009.

The Company reports that since its original announcement on March 31, 2009 (the "Notice") in respect of the delay in filing its Annual Materials, there have been no material changes to the information provided in the Notice other than as described herein nor any failure by the Company in fulfilling its stated intentions with respect to satisfying the Alternative Information Guidelines. In addition, there has not been any other specified default by the Company under NP 12-203, nor are any anticipated and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans and the Company's expectation with respect to the timing of completion of the Company's annual audit, the expected time for filing the Company's annual audited financial statements, related MD&A and the AIF and the imposition of a cease trade order by applicable securities commissions or regulators. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

CONTACT INFORMATION:

Goldstake Explorations Inc.
Robert Cleaver
(416) 201-9223
Email: rcleaver@goldstake.com

or

Goldstake Explorations Inc.
Charles McAlpine
(416) 801-4221

TORONTO, ONTARIO-(March 31, 2009) - Goldstake Explorations Inc. ("Goldstake" or the "Company"), (TSX:GXP)(FRANKFURT:GOO), announces that there will be a short delay in filing its Annual Audited Financial Statements, Management Discussion & Analysis ("MD&A") and Annual Information Form ("AIF") for the Company's financial year ended 31 December 2008, as required by National Instrument 51-102 Continuous Disclosure Obligations, and the CEO and CFO certificates required under National Instrument 52-109 (the "Certificates").

The delay has arisen due to the following reasons:

The Company's Australian division was delayed in finalizing its accounting records and forwarding them to the Company's Canadian auditors due to the involvement of a third party accounting firm. Due to this added layer of complexity, the auditors require additional time to complete their audit of this division, which must be reflected in the Company's consolidated audited financial statements as at and for the year ended December 31, 2008. Several tax issues also need to be resolved with the assistance of the auditors to reflect any potential liabilities to the Company, which will also need to be reflected in the Company's consolidated audited financial statements.

The Company will apply to the applicable securities commissions or regulators for a management cease trade order related to the Company's common shares to be imposed against some or all of the persons who have been directors, officers or insiders of the Company instead of a cease trade order being imposed against all securities of the Company. Such an order would not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the securities of the Company. If the annual audited financial statements, related MD&A, the AIF and Certificates are not filed by May 31, 2009, the applicable securities commissions or regulators may impose a cease trade order. A cease trade order may be imposed sooner if the Company fails to satisfy the provisions of the Alternative Information Guidelines required pursuant to National Policy 12-203 Cease trade Orders for Continuous Disclosure Defaults (the "Alternative Information Guidelines").

The Company is working with its auditors to complete the audit of the Company's financial statements for the year ended 31 December 2008 as soon as possible and anticipates filing such financial statements and related MD&A and AIF by May 29, 2009. Until its annual financial statements and related MD&A and AIF are filed, the Company intends to satisfy the Alternative Information Guidelines, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a press release.

The Company is not subject to any insolvency proceeding and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans and the Company's expectation with respect to applying the applicable Securities commissions or regulators for a management cease trade order, the timing of completion of the Company's annual audit, the expected time for filing the Company's annual audited financial statements, related MD&A, the AIF and the Certificates, and the imposition of a cease trade order by applicable securities commissions or regulators. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

CONTACT INFORMATION:

Goldstake Explorations Inc.
Robert Cleaver
(416) 201-9223
Email: rcleaver@goldstake.com

or

Goldstake Explorations Inc.
Goldstake Office
(905) 829-3393

or

Goldstake Explorations Inc.
Robert Dillman
(519) 264-9278

or

Goldstake Explorations Inc.
Charles McAlpine
(416) 801-4221

Hedge Fund Investors Turn To Gold In Bet Against Central Banks

By Henny Sender in New York and Javier Blas in London

Published: March 9 2009 02:00 | Last updated: March 9 2009 02:00

Hedge fund investors who made money last year by betting against investment banks are buying gold as a way of betting against central banks.

The gold bulls include David Einhorn, founder of hedge fund Greenlight Capital, who last year came under the spotlight for his short selling of shares in Lehman after arguing that the bank did not have enough capital to offset its exposure to falling property prices.

Other funds looking at gold include Eton Park and TPG-Axon, investors said.

Their belief in bullion is being expressed even as gold prices have retreated from last month's break above the $1,000 an ounce level. Spot gold in London closed on Friday at $939.10, after falling last week to $900.95 an ounce.

Investors such as Mr Einhorn are turning to gold because they are worried about the response of the US Federal Reserve and other central banks to the economic crisis. A bet on gold is a bet against paper currencies.

"The size of the Fed's balance sheet is exploding and the currency is being debased. Our guess is that if the chairman of the Fed is determined to debase the currency, he will succeed," Mr Einhorn wrote to investors.

"Our instinct is that gold will do well either way: deflation will lead to further steps to debase the currency, while inflation speaks for itself."

Mr Einhorn's comments - and the revelation that he is buying gold - are in line with the views held by other institutional investors in Europe, according to bankers in London.

The head of commodity sales at one bullion bank told the Financial Times that he had never been so busy dealing in gold for large investors.

Goldman Sachs, Morgan Stanley and UBSforecast that the gold price would rise above $1,000 this year.

Peter Munk, chairman of Barrick Gold, the largest bullion miner, told investors last week that all countries had embarked on policies that would favour gold.

"The only option to governments is to print and print more money," he said. "That will end in tears."

Hedge funds had avoided gold because it does not produce yield and costs money to store and insure. But that has become less important as central banks have pushed interest rates to nearly zero, reducing the yields on currencies.

"Basic Facts about Gold"-Jim Anthony-Chairman-Seabridge Gold
Friday, 27th February 2009

There are about 5 billion ounces of above ground gold supply worth about USD 5 trillion at current prices. Less than 5% trades annually. The above ground gold supply is growing at about 1.5% annually, the 300 year average.

New gold supply is price inelastic. If you double the gold price, production will fall as miners extend precious mine life by processing lower grades through fixed rate capacity. Building new capacity is the work of decades. Re-opening old mines is difficult and expensive and there are few worthwhile opportunities which have not been exploited. Meanwhile, discovery rates are declining, discovery costs are rising, mines are depleting and production is falling at about 5% per year. The world's best gold deposits have been found and mined.

Gold's highest and best use is in a vault as a store of value. It is not a commodity. Jewelry 'consumption' of gold is a traditional store of value. The industrial/medical uses of gold are diminimus. If gold had important other uses, there would be less of it and the price would be lower because it would be valued as a commodity subject to substitution effects. No other substance has the unique properties and a supply sufficient to act as an ultimate store of value which is why gold has had this role for at least 6000 years.

Gold is therefore a financial asset in physical form and sometimes a currency. It goes up in price when confidence in other financial assets [stocks, bonds] is falling and falls when confidence in these alternatives is rising.

Other financial assets have the advantages of convenience and income. Gold's advantage is that it is final settlement anywhere in the world. Gold backs itself whereas other currencies and financial assets merely represent, and depend upon, the countries and companies which issue them and stand behind them. Gold is a currency without a country or central bank...there is no issuer to inflate supply or default on its obligations.

There are approximately USD 140 trillion in other financial assets world-wide so the current value of above ground gold is about 4% of this total. In 1980, when inflation weakened confidence in stocks and bonds, the ratio was greater than 25%. It currently requires about 8 ounces of gold to buy the Dow, down from 44 in 1999. In 1980, the ratio reached 1 to 1.

Gold has no P/E or other standard valuation metric. Its price can go where the market decides. How much will the owners of USD 140 trillion in financial assets pay to protect themselves from deflation, inflation or default?

James S. Anthony

Sprott Says U.S. Depression Will Boost Gold Price

Feb. 3 (Bloomberg) -- Eric Sprott, the Canadian money manager who last year predicted banking stocks would collapse, said the U.S. is at the beginning of an economic depression that will help gold prices more than double.

Bullion may top $2,000 an ounce in coming years amid a series of financial catastrophes, the chairman and founder of Toronto-based Sprott Asset Management Inc. said yesterday in an interview. Banks will battle to replenish capital, Treasury auctions stand the risk of failing and the moribund economy will create a dire operating outlook for many companies, he said.

“The trend is down, and there’s not one signpost that says it’s changing yet,” Sprott said yesterday from Toronto. “We’ll stand by to wait to see those, and until it does, you have to assume it gets worse.”

Sprott, who manages $4.5 billion, said in March that the world was in a “systemic financial meltdown,” a call that presaged the collapse of financial institutions including Bear Stearns & Co. and Lehman Brothers Holdings Inc. Since then, the U.S. has entered the worst economic slowdown since the Great Depression, credit markets have tightened and asset prices have dropped as companies and funds sell portfolios to raise cash.

The 81-company Standard & Poor’s 500 Financials Index has dropped 62 percent since Sprott said on March 6 he was buying bullion and gold-producers’ shares, while shorting financial- sector stocks. Gold slipped 6.3 percent during the same period.

So-called short-selling allows speculators to profit from a stock’s decline by borrowing shares, selling them to raise cash and buying them later when the price drops to repay the debt.

Sprott Funds

Sprott Hedge Fund LP posted a one-year return of 9.9 percent, while Sprott Hedge Fund LP II rose 18 percent in the period, according to data posted on the company’s Web site. The Sprott Canadian Equity Fund dropped 37 percent.

Sprott now favors buying more gold stocks and bullion while selling the entire equity market short. Most at risk in the current climate are banks, discretionary consumer stocks and any companies needing to refinance debt, he said.

Sprott believes there is a chance that a U.S. Treasury auction will fail as countries use their resources to quell financial turmoil in their home markets, leaving less to help finance the world’s largest economy. That outcome will have a “catastrophic” impact, he said.

“When do people stop buying the credit of the country? That’s a tough question to answer, but it’s on a lot of people’s lips right now,” he said. “Each country has their own financial problem, so there’s no funding for anything external.”

Gold Investors

Such concerns have driven investors to the gold market, propelling the metal higher as other commodities have slumped and helping gold-producers’stocks almost double in the past three months.

Greenlight Capital Inc., a $5.1 billion New York-based hedge fund, has invested in gold for the first time, while Federated Investors Inc.’s $1.3 billion Federated Market Opportunity Fund, which outperformed 99 percent of rivals last year, now countsYamana Gold Inc. and Goldcorp Inc. among its largest investments.

Gold companies such as Newmont Mining Corp. and Kinross Gold Corp. have taken the opportunity to issue stock to bolster their own balance sheets.

Barrick Gold Corp. Chairman Peter Munk said last week he has been inundated with calls from wealthy investors seeking to buy gold to protect their capital.

“The window to raise money for gold stocks has blown open,” Sprott said. “The investing public has started to go to that one thing that they think it’s safe to invest in.”

Dear Investors,

Gold futures surged Friday, briefly topping $800 an ounce for the first time in more than a month, as wary investors returned to the safety of the precious metal. Gold for December delivery rallied $43.10, or 5.8%, to end at $791.80 an ounce on the Comex division of the New York Mercantile Exchange. It jumped 7.1% to $801.90 earlier, rising to above $800 for the first time since Oct. 16. The benchmark contract ended the week up 6.6%, the biggest weekly percentage gain since the week ended Sept. 19.

Click here to view the AGORACOM Blog.

Regards,
AGORACOM Investor Relations

Dear Investors,

Last night at the AGORACOM sponsored Roth China/Vegas Conference, keynote presenter Jim Rogers stated that “Gold will hit its inflation adjusted high of $2200.”

George Tsiolis, President of AGORACOM was in attendance at this exclusive event and reported on the Jim Rogers speech live via his cell phone to his twitter account. For a recap of Jim Rogers’ speech, follow the following link to George’s twitter account and/or his blog.

Follow George’s Twitter

George’s Blog

AGORACOM remains very bullish on Gold, as outlined within George’s extensive “Gold $1,000” blog entries.

Regards,

AGORACOM

TORONTO, ONTARIO-( Nov. 19, 2008) - Goldstake Explorations Inc. (TSX:GXP)(FRANKFURT:GOO) is pleased to announce that the company has officially earned a 60% interest in the Clay Property from Transpacific Resources Inc. Goldstake earned the majority interest in the Clay Property after incurring exploration expenditures to-date of $1.8 million. Exploration on the property by Goldstake is part of an option agreement with Transpacific allowing Goldstake to earn a 75% interest in the Clay Property by spending a total of $2.5 million on exploration on the Clay Property before December 31, 2009.

The Clay Property (formerly: McGarry Property) covers a contiguous area of 2,637 hectares in the Larder Lake section of the prolific Larder - Cadillac Break in the Abitibi Greenstone Belt. The property is situated 3 kilometres north of the historic Kerr-Addison Mine which produced 11 million ounces of gold, and 3 kilometres northeast of the current gold-producer: Armistice Mine. The best gold intersection on the Clay property was from a Goldstake diamond drill program in 2004 and assayed 1 ounce (33 grams) of gold over a core width of 28.5 feet (8.5 metres).

The Clay Property hosts six areas of gold and gold-copper-silver mineralization. Most exploration by Goldstake has focused on the Instant Pond Zone which was recently tested by a 10 hole - 2,200 metre drill program. All the holes drilled during the recent program intersected multiple zones of gold mineralization assaying +0.2 grams per tonne (g/t) gold to 157.0 g/t gold (4.58 ounces per tonne), up to 1% copper and 15.3 g/t silver in 97 separate drill core intervals ranging up to 2 metres wide. The multiple zones of gold mineralization were intersected in a 350 metre long northeast trending corridor ranging up to 150 metres wide the extent of which is open in all directions. Visible gold was observed in 40% of the holes. The true width of these intersections has not been calculated.

In addition to gold mineralization, significant quantities of kimberlite indicator minerals have also been found on the Clay Property. The kimberlite minerals, consisting of pyrope and eclogite garnet, chrome diopside, picroilmenite, chromite and fosterite olivine, have been detected in glacial till and stream gravels in concentrations of +100 mineral grains per sample. Electron microprobe analyses performed on the kimberlite minerals have revealed chemistries overlapping those associated with typical kimberlite diamond sources. Ground magnetometer surveys by Goldstake have outlined 18 magnetic features resembling kimberlite pipes and dikes and will test the diamond potential of the geophysical features by future drill programs planned in 2009.

Diamonds occurrences have reportedly been discovered on the property during previous exploration programs in 1985 and 1996.

Goldstake Explorations Inc. is a Canadian exploration and development company with gold, base metal, uranium and diamond projects in Canada, The USA and Australia. The Clay Property is one of two properties Goldstake has in the Kirkland Lake-Larder Lake section of the Abitibi greenstone belt.

This press release was prepared or reviewed by geologist Mr. Robert J. Dillman, P. Geo, acting qualified person for Goldstake as defined by National Instrument 43-101.

For further information on any of Goldstake's mineral properties, corporate structure and corporate vision please contact:

Robert Cleaver 416-201-9223
Goldstake Office 905-829-3393
Robert Dillman 519-264-9278
Charles McAlpine 416-801-4221

Email: rcleaver@goldstake.com

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections.

CONTACT INFORMATION:

Goldstake Explorations Inc.
Robert Cleaver
(416) 201-9223
Email: rcleaver@goldstake.com

or

Goldstake Explorations Inc.
Goldstake Office
(905) 829-3393

or

Goldstake Explorations Inc.
Robert Dillman
(519) 264-9278

or

Goldstake Explorations Inc.
Charles McAlpine
(416) 801-4221

TORONTO, ONTARIO-(Oct. 21, 2008) - Goldstake Explorations Inc. (TSX:GXP)(FRANKFURT:GOO) has received additional gold assay results on its Instant Pond Gold-Copper-Silver Zone on the Clay Property, Northeastern Ontario. One of two intervals of drill core containing visible gold in drill hole IP-08-11 assayed 18.62 g/t gold or 0.543 ounces per ton across 0.47 metres and is part of a gold-bearing section averaging 17.0 g/t gold across 1.95 metres. A separate interval containing visible gold situated lower in hole IP-08-11 assayed 16.25 g/t gold or 0.474 ounces per ton across 0.25 metres. The two separate intervals containing native gold are part of 13 intervals of gold mineralization intersected by hole IP-08-11 which tested the northeast section of the Instant Pond Zone during a 10 hole drill program totaling 2,200 metres completed in May, 2008. The assays were preformed by SGS Lakefield Research Limited and Swastika Laboratories Ltd.

The Instant Pond Zone has been drilled for a length of 350 metres and tested to a vertical depth of 180 metres by 10 parallel holes spaced 50 and 100 metres apart. All the holes drilled during the recent program intersected multiple zones of gold mineralization in a northeast trending corridor ranging up to 150 metres wide which crosses three different rock units. A total of 97 core intervals measuring up to 2 metres long assayed between +0.2 g/t gold to 157.0 g/t gold or 4.58 ounces per ton gold, up to 1% copper and 15.3 g/t silver. Visible gold was observed in 40% of the holes.

The Instant Pond Gold-Copper-Silver Zone is one of six areas of gold mineralization contained on the Clay Property located in the Larder Lake section of the prolific alteration-deformation zone known as the Larder - Cadillac Break. The property is situated 3 kilometres north of the historic Kerr-Addison Mine which produced 11 million ounces of gold and 3 kilometres northeast of the gold-producing Armistice Mine.

The recent drill program is part of a $2.5 million exploration project on the Clay Property allowing Goldstake to earn a 75% interest in the Clay Property from Transpacific Resources Inc. before December 31, 2009.

Goldstake Explorations Inc. is a Canadian exploration and development company with gold, base metal, uranium and diamond projects in Canada, The USA and Australia. The Clay Property is one of two properties Goldstake has in the Kirkland Lake-Larder Lake section of the Abitibi greenstone belt.

This press release was prepared by geologist Mr. Robert J. Dillman, P. Geo, acting qualified person for Goldstake as defined by National Instrument 43-101.

For further information on any of Goldstake's mineral properties, corporate structure and corporate vision please contact:

Robert Cleaver 416-201-9223
Goldstake Office 905-829-3393
Robert Dillman 519-264-9278
Email: rcleaver@goldstake.com

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections.

CONTACT INFORMATION:

Goldstake Explorations Inc.
Robert Cleaver
(416) 201-9223
Email: rcleaver@goldstake.com

or

Goldstake Explorations Inc.
Goldstake Office
(905) 829-3393

or

Goldstake Explorations Inc.
Robert Dillman
(519) 264-9278

or

AGORACOM
Investor Relations
Email: GXP@Agoracom.com
Website: www.agoracom.com/ir/goldstake