Update on sale of Orion

Red Rock Resources plc 04 July 2007 RED ROCK RESOURCES PLC Update on Proposed Sale of Orion Dated: 4 July 2007 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/Southern Africa, announced on 9 May the proposed sale of Orion Exploration Pty Ltd ('Orion') its wholly owned uranium exploration subsidiary and certain other uranium tenements. It was announced that Retail Star Limited ('Retail Star'), a company listed on the Australian Securities Exchange (ASX:RSL) has agreed Heads of Terms to acquire 100% of Orion, owner of Red Rock's Australian uranium assets, and certain other uranium tenements. On 2 July 2007 Retail Star announced that it was calling an Extraordinary General Meeting for 6 August to approve the resolutions set out in the notice of meeting, which are those required to implement the agreement between the Company and Retail Star. An Independent Expert's Report contained therein concludes that the terms of the transaction are fair and reasonable for Retail Star shareholders. Further information may be obtained from the Australian Stock Exchange website at: http://www.asx.com.au/asxpdf/20070702/pdf/313794xlykwm0z.pdf Pursuant to the agreement, and conditional on the passing of the resolutions at the Extraordinary General Meeting of Retail Star, two representatives of the Company will be joining the board of Retail Star. The Company is additionally pleased to announce that Ian Scott and Retail Star have agreed that Ian Scott will, conditional on passing of the resolutions at the Extraordinary General Meeting of Retail Star to be held on 6 August, join Retail Star as an additional executive director, in order to strengthen Retail Star's capabilities in uranium project origination, exploration and development. Ian Scott, a graduate of the WA Institute of Technology (now Curtin University of Technology), and a member of the Australasian Institute of Mining and Metallurgy and the Australian Society of Exploration Geophysicists, has spent his career since 1972 with the two mining majors Western Mining Corporation ('WMC') and Mount Isa Mines. At WMC from 1986 he was involved with the development, from pre-production through a series of major expansions, of Olympic Dam, the largest underground base metals mine in Australia. As Chief Geologist and Geology Manager of Olympic Dam from 1995 to 1998 he saw the mine into production, and as head of department he managed the geology function as WMC more than doubled Olympic Dam's production to 200,000 tons of copper and 4,600 tons of uranium a year by 1999. 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 Updates on the Company's activities are regularly posted on Red Rock's website, www.rrrplc.com. This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings