Acquisition

Red Rock Resources plc
03 October 2005



                            Red Rock Resources plc

Acquisition of uranium and iron ore properties in the Northern Territory of
Australia


Dated: 3 October 2005

Red Rock Resources plc ('Red Rock' or the 'Company') the mineral exploration and
development company focussed on advancing iron ore, uranium and manganese
projects in Western Australia and in Tasmania announced today it has purchased
five mining tenements in the Northern Territory of Australia from Tennant Creek
Gold Limited ('TNG') for a consideration of £475,000 satisfied in full by the
issue of 19,000,000 new ordinary shares in the Company ('New Shares') at 2.5p
per share. The Company has made application for the New Shares to be admitted to
trading on the AIM Market of the London Stock Exchange from 6 October 2005.

Highlights

•  Red Rock acquires a portfolio of uranium/iron ore projects in Northern 
   Territory;

•  Portfolio concentrated in major uranium exploration areas, Pine Creek 
   Geosyncline and Rum Jungle Uranium Field;

•  Portfolio includes Woolgni/Edith River with four uranium projects identified 
   and explored in 1950s showing disseminated mineralisation over wide area;

•  High grade gold trenching and rock sampling results at different prospects at 
   Woolgni indicating up to 31 g/t gold;

•  Celia and Marrakai known uranium targets in prolific Rum Jungle Uranium Field;

•  Licenses include some well known Northern Territory iron ore resources and 
   targets near Stuart Highway with major tonnage potential to new Darwin port 
   facilities; and

•  Uranium potential of licenses previously under explored due to State 
   Government opposition to uranium.


The properties are:


Woolgni / Edith River                        EL 23568        474.9 sq km

                                             EL 23569        1,569 sq km (including MLA 24342 over 1.64 sq km)


The Woolgni and Edith River granted exploration licenses are located some 220 km
south east of Darwin and 35 km south east of Pine Creek.


At Edith River several uranium prospects were discovered in 1952 in an intrusion
of Lower Proterozoic granite (the Cullen granite) reported to be overlain to the
west of the known prospects by Cambrian sandstones. Disseminated uranium
mineralisation associated with hematite and apatites was identified at four
locations on shear zones and was then partially mapped by Bureau of Mines and
Resources geologists:



1)  the YMCA prospects,                          1 to 3 miles SE of the Edith River siding;

2)  the Tennysons prospects,                     2 miles WSW of the Edith River siding;

3)  the Hore and O'Connor's prospect,            5 miles WNW of the Edith River siding; and

4)  the Yenberrie prospect,                      5 miles N of the Edith River siding.


The surface grade has been estimated as ranging from 0.1% to 0.2% uranium. Two
occurrences at the YMCA prospects were drilled in 1954, with one drill hole each
in the oxide layer and one each drilled to intersect primary mineralisation,
which did not encounter significant increase in grade. United Sales
International Pty in 1971 noted that the disseminated nature of the occurrences
did not offer easy drill targets and recommended a study to locate areas of
intersecting shears, the carrying out of low level radiometrics with ground
follow-up, and the identification of areas of Cambrian and late Proterozoic
sediments lying unconformably on the Cullen Granite and their testing for
sedimentary deposits of uranium.


Mining at Woolgni began in the late nineteenth century when alluvial gold began
to be extracted. In recent times, trenching has been carried out, with results
including 3m Au at 2.33 g/t, 10.7m at 4.44 g/t, and 4.3m at 5.18 g/t. Another
highly anomalous gold prospect 1.5 km to the west of the Woolgni prospect has
produced results in rock chip samples ranging from 0.21 g/t to 31.1 g/t Au.


The licenses contain significant gold and uranium targets and further
exploration is considered likely to identify additional prospect areas. The
tenements lie on the Pine Creek Geosyncline near the Stuart Highway, with a gold
treatment plant nearby and good infrastructure.


Celia                            ELA 24414     13.2 sq km



The Celia prospect consists of a exploration license application some 4 km east
north east of the town of Batchelor in the south of the Rum Jungle Uranium Field
on the contact with the granite intrusion. Previous exploration including two
drill programmes has developed an indicated resource of 10m t of low silica
Magnesite at 45%+ grade, with potential for expansion. There is a known gold
occurrence.


The area is in the heart of a major uranium mining province close to several
recent uranium discoveries and with the presence of magnesite showing proximity
to the redox boundary, is considered highly prospective for uranium. Over
flights in the 1960s detected a number of uranium anomalies but no follow up
work was carried out. The property is near the old Rum Jungle Mine and the
uranium properties being developed by Compass Resources NL.



Hayes Creek South    ELA 24432     130.1 sq km



The Hayes Creek license area is situated 160 km south-south east of Darwin and
about 8 km east of the Douglas homestead.



The area is a significant under explored polymetallic target centred on the
Hayes Creek fault and possible related splay structures forming structural
corridors. In 1969 an iron rich bed was traced over 9.65 km with rock chip
samples assaying:

                                    Iron                  Manganese

                                    44.9%                   3.4%

                                    49.0%                   2.8%

                                    56.3%                   3.8%

                                    14.5%                 37.05%

                                    48.0%                   5.3%


In 1987 rock chip samples gave highest readings of 15 g/t Au, 15 g/t Ag and
57.28% Fe.


1990 fieldwork identified three ferruginised breccia zones parallel with the
fault zones, one of which forms for several hundred metres a cliff of massive
hematite.


Indications of uranium mineralisation, as well as possible massive high tonnage
iron ore below Quaternary cover, and manganese and gold mineralisation require
follow up by systematic exploration of the area. The area is considered under
explored with major mineralized structural corridors hosting significant iron
ore mineralisation that has never been drill-tested.


Daly River                  ELA 24391     20.04 sq km


The project is among the best known iron ore prospects in the Northern
Territory, where infrastructural constraints and low iron ore prices have until
recently discouraged active exploration. A large portion of this area situated
near the western edge of the Pine Creek Geosyncline close to the old Stuart
Highway consists of outcropping hematitic iron ore, with ironstone lenses near
the base of a highly lateralized sequence of Cretaceous claystone porcellanite,
siltstone and sandstone capped by remnants of nodular laterite. The iron ore
occurs at surface as dark red boulders of varying size and outcrops.



In 1967-8 10 percussion holes were drilled for iron ore, with phosphorus content
generally under 0.1%, and resources were estimated at 126m tons. A follow-up
desktop survey by the Northern Territory Mines Department concluded that the
prospect potential could be 15-20m tons. Kratos Uranium NL later carried out
work in the area, including drilling 15 short percussion holes totaling 225m
with assays from 28.9% to 55.4% soluble iron and other assays up to 52.9% total
iron. October 2004 rock chip samples taken by Tennant Creek Gold Ltd and the
Senior Exploration Geologist of the Northern Territory Geological Survey over
the central part of the prospect gave an average of 52% Fe.



Most of the areas of potential within the prospect are barely explored, and
numerous magnetic anomalies in the north of the license detected by regional
wide-spaced aeromagnetics have not been systematically tested. Where the
wide-spaced and shallow drilling carried out to date has intersected iron ore
mineralisation, no follow-up work has been completed. Very little geological
mapping or geochemical sampling has been carried out. The likelihood that
further exploration would enable further substantial high grade iron ore
resources to be delineated is considered to be considerable.


Marrakai                    ELA 24614     20.3 sq km



The Marrakai license lies 75 km south-east of Darwin on the eastern side of the
Archaean Rum Jungle Uranium Field.



In 1963 several limonitic ironstone replacement deposits in brecciated zones
along limbs and crestal parts of a large NE trending anticline were identified.
Limited rock chip sampling gave results at 31% and 35% Fe. A theoretical model
based on the Frances Creek iron ore deposits has been posited, indicating the
possibility of massive super gene ore bodies with little surface expression. No
iron ore exploration has been carried out since the 1960s, but the area has seen
exploration in the 1980s and 1990s directed at gold, base metals and uranium.




Independent Appraisal

The Company commissioned Al Maynard Associates, consulting geologists, to
prepare an independent geological report and valuation of these mineral
exploration assets. The valuation has been provided by way of a study of
technical information provided by TNG, the Company and other relevant sources
and prepared in accordance with the requirements of the Valmin Code (1999) as
adopted by the Australian Institute of Geologists (AIG') and the Australian
Institute of Mining and Metallurgy ('AusIMM'). The report was prepared Allen J.
Maynard who holds the appropriate qualifications, experience and independence to
qualify as an independent 'Expert' under the definitions of the Valmin Code.

Under the guidelines for assessment and valuation of mineral assets and mineral
securities as adopted by the AusIMM Mineral Valuation Committee Al Maynard
Associates estimates the current technical value of the mineral exploration
assets to be between AUS$1.63 million and AUS$1.96 million.



The directors believe that these properties are of value for two principal
reasons:



 1. Several of the properties have identified uranium mineralisation or uranium
    anomalies, or are in a mineral field chiefly known for its uranium
    occurrences. Others lie along the Pine Creek Geosyncline, which is
    associated with uranium mineralisation in many places, and contain iron ore
    mineralisation indicating that they lie near the redox boundary in areas
    where the basement rock is known to carry uranium. The uranium potential of
    these licenses justifies active exploration following the recent decision of
    the Federal Government to take control of uranium policy in the Territory
    from the Northern Territory government.



 2. The properties lie on or nearby the Stuart Highway and railroad leading north
    to Darwin, and the Darwin port expansion enabling handling of bulk cargoes
    is anticipated to be completed within the next year. High grade deposits of
    iron ore near the Highway, even if of moderate size, will become economic
    for transport and shipping from Darwin at that point, and the acquired
    tenements include recognised deposits that may fall in this category and
    have capacity for resource expansion through exploration. These tenements
    will become more valuable upon completion of the port facilities.



Additionally, some attractive gold targets lie within the tenements and merit
exploration.


The directors believe that the mineral potential of the Northern Territory is
under explored, primarily because of lack of infrastructure, but that the
infrastructure improvements, the simplicity of the Native Title system within
the Territory, and the opening up of the uranium exploration market, offer
significant opportunities both within the existing iron ore and manganese focus
of the company, and for economic discoveries of gold and especially uranium.



Enquiries:


Andrew Bell                07766 474849        Red Rock Resources plc         Chairman

John Simpson               020 7512 0191       ARM Corporate Finance Ltd      Nominated Adviser

Ron Marshman / John        020 7628 5518       City of London PR Limited      Public Relations
Greenhalgh



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