Goldstake: Diamond Hunt, Update



    TORONTO, April 11 /CNW/ - Goldstake Explorations Inc. (TSX Symbol GXP) is
pleased to announce it has received an independent National Instrument (NI)
43-101 report encouraging further diamond exploration on the McGarry Property
located in the Kirkland Lake - Larder Lake region of Ontario. The report was
prepared by Mr. Robert Dillman, P.Geo. who is acting as the "Qualified Person"
on the project and is responsible for the material in this update. Goldstake
is focused on exploring for the source of hundreds of kimberlite indicator
minerals found in till samples collected in a small area of the property. In
addition to the good concentrations of pyrope garnet, chrome diopside,
chromite and picroilmenite, much of the McGarry Property kimberlite mineral
anomaly is composed of large grains of 'fresh' fosterite olivine which are
believed to be derived from one or more local kimberlite sources. Grain
chemistries of some of the kimberlite minerals which have been determined by
extensive electron microprobe analyses overlap those known to occur with
diamond. The results suggest the kimberlite source may contain diamond as
well.
    A drill program planned this past winter to test two adjacent pipe-like
magnetic features was temporarily suspended in light of some new information
which arose concerning glacial ice-directions and the orientation of the
kimberlite mineral anomaly with respect to the two adjacent pipe-like
features. A decision was made to delay the drill program to provide time to
evaluate the kimberlite potential of several unexplored areas of the property
situated close to the kimberlite mineral anomaly but considered to have poor
or insufficient ground magnetic coverage for proper kimberlite evaluation.
Delaying the drill program will also provide time to evaluate the unexplored
sections of the property with additional till sampling using new information
concerning past ice-flows over the region.
    As a result, Goldstake has recently completed a series of high definition
- detailed ground magnetic surveys over a group of small lakes and ponds
situated close to the kimberlite mineral anomaly and has focused work on
definition of several historic magnetic features including the two adjacent
pipe-like features which were to be drilled this past winter. Compilation of
the new ground magnetic data is expected soon. This summer, Goldstake plans to
use the new information to guide a phase of additional till sampling the
extent of which will be expanded to cover to entire property. The summer
program will also include some trenching, geological mapping and additional
ground magnetic surveys as required. The program will cumulate into a drill
program designed to test a selected group of potential kimberlite targets for
diamond.
    Goldstake also plans further development of several zones of gold and
copper mineralization which have been the main focus of past exploration on
the property. Some of the summer work will attempt to expand the high-grade
gold intercepts in the Instant Pond and South Zones discovered during drilling
by Goldstake in 2006. Efforts this summer will be made to explore some newly
acquired claims which adjoin the McGarry Property and were staked to cover
several historic gold and copper occurrences.
    Elsewhere in Ontario, Goldstake is currently acquiring a number of
airborne radiometric anomalies situated close to several past producing
uranium mines. Goldstake plans to investigate the uranium potential of these
targets as soon as the ground is acquired and titles are secured. Goldstake is
also exploring uranium prospects in Utah, USA. A report on the development of
the Utah uranium project is expected in the near future.

    Goldstake Explorations Inc. is a Canadian exploration and development
company with projects in Canada, The USA and Australia.

    %SEDAR: 00003881E




For further information:

For further information: Robert Cleaver, (416) 201-9223, Goldstake
Office, (905) 829-2968, Email: rcleaver@goldstake.com

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