Update on Retail Star Limited

RNS Number : 6191Y

Red Rock Resources plc

08 July 2008

 

RED ROCK RESOURCES PLC

Update on Retail Star Limited

Dated: 8 July 2008

Red Rock Resources plc ('Red Rock' or the 'Company') the mineral exploration and development company focused on advancing iron ore, uranium and manganese projects in Australia and East Africa, announces that Retail Star Ltd (ASX: RSL) lodged a prospectus with the Australian Securities and Investment Commission on 4 July 2008 to re list RSL as a uranium exploration company following a change in the nature of RSL's activities and to raise up to AUD2.5million through a General Offer of 2,500,000 Shares at AUD0.20 and a non-renounceable Entitlement Offer of 2 Shares for every 9 Shares held by shareholders at an issue price of AUD0.20 per Share.

RRR, the largest shareholder in RSL, currently holds 140,000,000 Shares, representing a 24.2 per cent of the issued ordinary share capital of RSL. Red Rock has also agreed to partially underwrite the Entitlements Offer up to an amount of AUD 1,100,000, for a fee of 4 per cent.

In conjunction with the release of the prospectus, RSL also released exploration updates on two of its exploration properties;

• Edith River in the Northern Territories; the first phase of field reconnaissance is nearing completion. 247 rock chip samples were taken with readings of up to 1291 eppm U. For further information:

http://www.asx.com.au/asxpdf/20080707/pdf/31b1ktqzy2qgy5.pdf

       2.  Machinga in Southern Malawi; a scintillometer survey at 200m spacing over the entire 7 kilometer 
            long Machinga Radiometric Anomaly was conducted. XRF measurements show grades of up to 
           1.55% Niobium and 6.2% Zirconium. For further information:

http://www.asx.com.au/asxpdf/20080707/pdf/31b19x7hlcytv0.pdf

Enquiries:

Andrew Bell	0207 402 4580 or 07766 474849	Red Rock Resources plc	Chairman
John Simpson	020 7489 4500	Blomfield Corporate  Finance Ltd	Nominated Adviser
Ron Marshman /  John Greenhalgh	020 7628 5518	City of London PR Limited	Public Relations

Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.

 

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