Annual report for EL 23569 for the period 18 June 2008 to 17 June 2009

Abstract

This annual report outlines the work achieved during the period 17th June 2008 to 16th June 2009 for the Woolgni Prospect EL 23569. Covering an area of approximately 263 km2 the tenement forms part of a larger project Resource Star Ltd (the Company) describes as the Woolgni-Edith River Project. Comprised of five contiguous tenements the work undertaken during the period was based on a major review of previous exploration and targeting strategies for the project as a whole. In this context a programme of work was proposed that covered the whole project. As EL 23569 was due for expiry at the end of this term, it was necessary to renew the licence before any work could commence. In addition, resolution had to be achieved over previously unrecognised native land issues which ultimately took several months and a reduction of the tenement area. The company therefore, was unable to commence any adequate physical work on EL 23569 before the end of the period. However, with renewal of the licence now in place, a programme of work covering the next two years is in included in this report. The lease is situated approximately 220km south of Darwin between Pine Creek and Katherine in the Northern Territory. Geologically located toward the southern extent of the Pine Creek Geosyncline, the region hosts the north-northwest trending Pine Creek Shear Zone, and includes a number of uranium, gold and copper prospects. Exploration within EL 23569 has primarily focused on the uranium deposits commonly associated with the sedimentary sequences intruded by and overlying the Cullen Batholith but, additionally, the tenement is considered prospective for gold.