Annual report for Marrakai Uranium Project EL 24614 for the period December 2009 to November 2010

Abstract

During 2009-2010 a major review of exploration strategy, potential and prioritisation of all Resource Star Ltd's Northern Territory prospects was finalised. CSA Global Pty Ltd, who undertook the study, identified the RSL's Edith River Project as the highest priority target, and work on Marrakai has fitted in around work at Edith River as a tier two project with grass roots prospectivity. Once RSL was relisted in early 2010, and as a result of the exploration review it was decided to undertake a detailed airborne geophysical survey over the most prospective areas identified in RSL's NT tenement holdings, and this included the entire Marrakai lease. The airborne geophysics, incorporating multi-spectral radiometrics and aeromagnetics, was flown processed and interpreted, and a subsequent ground exploration program has been completed, incorporating systematic soil / pit sampling, mapping and selective rock chip sampling, with analytical results not yet available.