Jupiter Mines Ltd Update

RNS Number : 2500U

Red Rock Resources plc

22 June 2009

 

RED ROCK RESOURCES PLC

Jupiter Mines Limited - Update

Dated: 22 June 2009

The Company is pleased to announce that the final three Oakover tenements comprised in the Manganese Option announced on 6 and 10 November 2008 were granted on 10 June 2009.

Under the second phase of the agreement of 6 November 2008 between the Company and Pallinghurst Resources Australia Ltd ('PRAL') (as Sellers) and Jupiter Mines Ltd ('JMS')(ASX: JMS) (as Buyer)(the 'Agreement'), conditional inter alia on Red Rock obtaining unencumbered beneficial title to the four Oakover tenements in Western Australia (tenements E45/2638, E45/2639, E45/2640 and E45/2641) within two years of the Agreement, on JMS shareholder approval (granted on 9 March 2009) and on Red Rock being able to deliver to JMS documentation required to transfer the legal title to it, the Manganese Option is capable of being exercised.  Any such exercise may require approval of the Company's shareholders.

Andrew Bell is a non-executive director of JMS. The independent directors of the Company, who have consulted with the Company's nominated adviser, consider that the terms of the Agreement are fair and reasonable insofar as shareholders of the Company are concerned.

Enquiries:

Andrew Bell John Watkins	0207 402 4580 07766 474849 07768 512404	Red Rock Resources plc	Chairman Director
Peter Trevelyan-Clark / Ben Jeynes	020 7489 4500	Blomfield Corporate Finance Ltd	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker
Ron Marshman /  John Greenhalgh	020 7011 9411	Lothbury Financial Limited	Public Relations

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

 

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