Golden State Mining Limited announced that it has completed the asset sale agreement (agreement) to acquire a 100% interest in the tenements held by Lefroy Exploration Limited in the Murchison region of Western Australia (the Murchison Project) as announced on 20 December 2018. As consideration for the purchase GSM has paid LEX: $25,000 cash consideration; 1,700,000 ordinary fully paid GSM shares (12 month voluntary escrow); and 800,000 options in GSM. "The completion of this acquisition really strengthens footprint at Cue. Already since listing the company has completed inaugural drill program in December, of which the company is expecting results in the coming days, and added 120km2 of very exciting and prospective ground. As previously announced, the LEX Murchison Project tenements are considered highly prospective to GSM's regional exploration strategy in the Cue region. The new tenements are considered positive, `Greenfields' exploration ground and cover substantial prospective greenstone stratigraphy and structure in a well-endowed gold mining district either along strike, or in the vicinity of previous and current gold mining operations. The new tenure compliments the current GSM held Cue Project, which was the subject of an inaugural Reverse Circulation (RC) and Diamond Drill-hole (DDH) drilling program in December 2018. This drilling program was primarily designed to test targets generated from the reprocessing of the Geoscience Australia (`GA') regional 2D seismic line 10GA-YU1 as well as the recently completed gravity and DDIP. Additional priority aims of the drilling program were to test for dip/plunge extensions and the potential for high grade gold shoot repetitions beneath historic gold mines in the Cue project area. First assay results from pre-Christmas drilling are expected in late January, 2019. The new project tenure location, access and infrastructure are considered excellent and the presence of +1 Moz gold mines in the area (Big Bell, Day Dawn Mining Centre) and recent, new gold exploration successes by other explorers in the Cue area are strongly encouraging indicators for the exploration potential of both the newly acquired LEX tenure and the GSM existing Cue Project.