Annual report EL 24432 Hayes Creek South Project

Abstract

This annual report details the work completed in the 2006/2007 reporting period by Orion Exploration Pty Ltd (Orion) - a wholly owned subsidiary of Retail Star Limited (RSL) - on the Hayes Creek South Project (EL 24432) in the Northern Territory. RSL took responsibility for Orion and the licence area in August 2007. The company has a new management team which has been undertaking a review of all its assets, in conjunction with a revision of the exploration and targeting strategies for its licence areas. The work completed comprised desktop studies of historical exploration reports along with reviews of current geological and geophysical maps provided by the Northern Territory Geological Survey. On site surveys were not completed within this reporting period. An aggressive field campaign is being planned for the 2008 field season. As part of this process, a reconnaissance field trip was undertaken across the northern parts of the lease by RSL's Managing Director and a Geological Consultant during December 2007. Results from this and subsequent work will be reported in the 2008 Annual Report.