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Red Rock Resources - Explooration Update - Mozambique

RNS Number : 4091Z Red Rock Resources plc 18 July 2008 RED ROCK RESOURCES PLC Exploration Update - Mozambique Dated: 18 July 2008 Red Rock Resources plc ('Red Rock' or the 'Company') the mineral exploration and development company focused on advancing iron ore, manganese and uranium projects in Australia and East Africa, announces that through its wholly owned subsidiary Red Rock Uranium Pty Ltd it has entered into a Memorandum of Agreement with Goma Investimentos Ltda whereby it will obtain exploration rights over, and, subject to certain conditions, 85% ownership of, Pedido (mineral prospecting license) 1876 dated 13th March 2007, which covers approximately 19,000 ha in the Magoe district of Tete Province in Mozambique. The license area is south of the Cahora Bassa reservoir on the Zambezi river along the border with Zimbabwe. For a consideration of $1, which has been paid, Red Rock is granted a period of 183 days from 5th July 2008 for preliminary exploration of the license area to explore for uranium. This period may be extended by 3 months upon the payment of a further $50,000, and a further 3 months upon the payment of a further $75,000. Within 12 months Red Rock may elect to proceed with the project, and would then receive an 85% interest in the license in exchange for the payment of $175,000. Enquiries: Andrew Bell 0207 402 4580 Red Rock Resources Chairman or plc 07766 474849 John Simpson 020 7489 4500 Blomfield Corporate Nominated Adviser Finance Ltd Ron Marshman / John Greenhalgh 020 7628 5518 City of London PR Public Relations Limited Updates on the Company's activities are regularly posted on its website, www.rrrplc.com. This information is provided by RNS The company news service from the London Stock Exchange END MSCRPMTTMMBBBJP

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Price: 0.45

Market: AIM
Market Cap: £3.04 m
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