Sale of Orion

Red Rock Resources plc 07 August 2007 RED ROCK RESOURCES PLC Completion of Sale of Orion Dated: 7 August 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 acquisition of Orion Exploration Pty Ltd ('Orion') its wholly owned uranium exploration subsidiary and certain other uranium tenements by Retail Star Limited ('RSL') (the 'Acquisition'). It was announced that RSL (ASX:RSL) a company listed on the Australian Securities Exchange had agreed Heads of Terms to acquire 100% of Orion, owner of Red Rock's Australian uranium assets, and certain other uranium tenements. The Extraordinary General Meeting of RSL took place in Perth, Western Australia on Monday 6 August 2007 and approved all the resolutions required to implement the agreement between the Company and RSL. The acquisition by RSL of Orion and interests in the other uranium interests has now been completed. The consideration for the Acquisition was AUS$1.5 million in cash. The cash consideration was funded through Red Rock subscribing for 80 million fully paid ordinary shares in RSL at AUS$0.015per share, 20 million options (with an exercise price of 2.5 cents each and an expiry date of 30 June 2008) at AUS$0.01 per option and 20 million A Performance Shares in RSL which will convert into ordinary shares when the Celia tenement application in the Rum Jungle Mineral Field in the Northern Territory of Australia (ELA 24414) is transferred to RSL's nominee, issued at a subscription price of AUS$0.005 per A Performance Share. The Company also received, 30 million C Performance Shares in RSL which will convert into ordinary shares when the legal and beneficial interest in the Chintheche uranium exploration license in Malawi is transferred to RSL's nominee, issued for no consideration, and 30 million B Performance Shares in RSL which will convert into ordinary shares when a further mineral application in Malawi is granted and is transferred to RSL's nominee, issued for no consideration. The 80 million ordinary shares of RSL currently held by the Company represent circa 15.6% of the issued ordinary share capital of RSL as enlarged by the Acquisition and are subject to a voluntary restriction for twelve months from the date of issue. Following a simultaneous placing of 37,500,000 new shares at AUS$0.015 by RSL, RSL currently holds approximately A$2.1 million in cash, part of which will be used to fund the further development of the tenements through a proposed exploration budget of AUS$225,000 in year one. At the close of trading on the Australian Stock Exchange on 7 August 2007 the RSL shares were trading at AUS$0.027 per share. The Company's Chairman, Andrew Bell, has been elected as Chairman and Director of RSL, and Manoli Yannaghas has been appointed a Director of RSL. Further information on RSL may be obtained from the Australian Stock Exchange website at: http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode &allinfo=&asxCode=rsl&companyName=&principalActivity=&industryGroup=NO Enquiries: Andrew Bell 07766 474849 Red Rock Resources plc Chairman John Simpson 020 7512 0191 ARM 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 Red Rock's website, www.rrrplc.com. This information is provided by RNS The company news service from the London Stock Exchange
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