Annual report for EL 24391 Daly River Road Project period ending 2 December 2009

Abstract

EL 24391 was granted on 2 December 2005, and is held on the basis of a discrete second order uranium channel radiometric anomaly and iron enrichment at surface, and was originally targeted for both iron and uranium prospectivity. The potential mineralisation styles include sandstone-hosted and unconformity uranium. Resource Star's exploration activity has unfortunately been suspended during 2009 due to market conditions limiting the availability of funds for small explorers. The Company has been able to maintain an active presence, and is currently in the process of securing additional funding. A presentation was made to the Department during February 2010 to provide an update on the Company situation and to discuss 2010's exploration plans. Work is expected to commence during the 2010 field season.