Goldstake Australian projects update

TSX:GXP

TORONTO, Aug. 5 /CNW/ - Goldstake Explorations Inc. - TSX Symbol: GXP -
is pleased to report on recent activity on its Australian projects.

    1.  Home of Bullion. Copper Project, Northern Territory, Australia.
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    A recent grab sample of previously mined waste copper material
    lying on surface has returned an assay of 450 ppm U308 to the ton.
    The assay was performed by Northern Territory Environmental
    Laboratories on May 12, 2005. A Geiger counter has been used to
    determine radioactivity in the schist on  the property, for
    exploration purposes; however, this is the first time a uranium assay
    has been performed on the previously mined mineralized rock. No
    economic significance is attached to this single assay. Further
    sampling and assaying is in progress to determine whether the uranium
    persists. No qualified person has verified this information.

    2.  Prospect D. Nickel project, Northern Territory, Australia.
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    Mithril and Falconbridge continue their exploration of this property.
    Drilling to attempt to intercept a large conductor offset from the
    surface mineralisation, is expected to resume in September, 2005.
    For detailed geological information, please see Mithril website:
    www.mithrilresources.com.au.

    3.  Hill End. Gold Project, N.S. W. Australia.
        ---------

    The 90-acre dredging lease on Golden Gully has been renewed by the
    New South Wales Department of Mines for a further 10 years.

    4.  Utopia. Tantalum and Tin Project, Northern Territory, Australia.
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    Goldstake now owns 50% of a new exploration license (EL). The area
    was previously relinquished in 2003. An EL has now been issued to
    cover the 5 km. long pegmatite outcrop, which contains tantalum and
    tin, with one tantalum assay of 1 kg. per tonne recovered by the NT
    Mines Dep't.

On Behalf of the Company:
"Robert Cleaver"
%SEDAR: 00003881E