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RESOURCE STAR LIMITED MALAWI EXPLORATION UPDATE 14 October 2009

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					                                   RESOURCE STAR LIMITED

                                MALAWI EXPLORATION UPDATE

                                          14 October 2009

Resource Star Ltd (‘Resource Star’ or ‘the Company’) is pleased to announce final results received after
the most recent work on the Company’s Machinga Project in southern Malawi, and the amendment of
exploration rights.

    Work Finalised and Reported:
    •   Completion of detailed scintillometer surveys over all airborne radiometric targets in the
        Machinga lease
    •   Geological mapping and a total of 210 rock chip samples over the Machinga Main
        Prospect and satellite anomalies now analysed and reported
    Key Results:
    •   A mineralised package of niobium-zirconium-rare earth element (REE)-tantalum-uranium
        that is more than 2,000m long, and between 200-500m wide, has been defined within a
        disrupted contact zone between an alkali granite complex and its host rocks
    •   Laboratory confirmation of positive previously reported field test results
    •   Peak rock chip grades of up to 2.99% Nb2O5, 6.49% ZrSiO4, 1,673ppm Ta2O5, 783ppm
        U3O8, and average grades that compare well with published grades from Globe’s Kanyika
        Project in central Malawi
    •   Additional potential value from REE by-products, with average grades of 4,200ppm Total
        Rare Earth Oxides (TREO), with 27% of this being the more valuable Heavy Rare Earth
        Oxides (HREO), locally reaching 2.64% TREO, of which up to 70% is HREO.
    •   Multiple phases of mineralising events; the controlling pegmatite swarm interpreted to
        extend under cover; alteration and mineralisation extends into host rock, and is not
        confined to pegmatites
    •   At least 5km additional along-strike potential has been defined after an assessment of
        these geochemical results and geophysical surveys enhanced the prospectivity of a
        contact zone that is approximately 7km long
    Work Planned:
    •   A comprehensive program of further geochemical sampling, trenching, drilling and
        mineralogical assessment is planned at the already defined area of anomalism, the
        prospective area defined along strike, and other targets
    Licence Expanded:
    •   EPL0230/07, covering the Machinga Project, has been amended to include niobium,
        zircon, tantalum and REEs as well as uranium.
    •   An application has been lodged to enlarge the area of EPL0230/07 to cover potential
        strike extensions or repetitions to the south and east of the known mineralisation.
RESOURCE STAR LIMITED                                                                                   2
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Resource Star holds two uranium-focused mineral exploration tenements in the East African country of
Malawi, Machinga and Chintheche (see Figure 1). Exploration efforts during 2008 concentrated on
Machinga in southern Malawi. All laboratory analyses from this work have now been received and final
reports compiled. The new results are discussed below.

Exploration Results

Final Report on earlier field activities – Machinga EPL 0230/2007

    •   Wet chemical (ICP and XRF - ALS Chemex Laboratory, Johannesburg, South Africa) analytical
        results received, consistent with and enhancing the hand-held XRF analyses reported earlier.
        Note that the field XRF analyser was unable to provide rare earth element (REE)
        measurements. These have now been obtained from the laboratory analyses.

    •   Completion of focussed geological evaluation, mapping and sampling over the immediately
        prospective northern end of the Machinga Main Anomaly

    •   Analysis of all analytical data to date, in particular reviewing accessory elements, REE and
        elemental and lithological associations

    •   Completion of detailed total count ground scintillometer surveys over all anomalies defined by
        airborne radiometrics (Figure 2)

    •   Interpretation of pegmatite zones based on geology and regolith mapping

    •   Development of target areas for systematic sampling and a drilling program

    •   Geological consultant’s final report completed on the 2008 exploration program

210 rock chip samples, selected on the basis of scintillometer readings, lithology and field XRF
spectrometer assessment have been analysed for a large suite of major and trace elements.

Most samples were collected from pegmatite swarms, with the majority from the northern end of the
main Machinga Anomaly along the contact zone between an alkali-rich phase of a complex granitic
intrusion and the basement host sequence, and they define a zone of variable mineralisation that is
approximately 2km long, and between 200 – 500m wide.

Other anomalies are located on the margins of a nepheline syenite, at Chinduzi, and at the satellite
anomalies along the trend defined by the Machinga Main Anomaly. Sample locations, with niobium
oxide grade ranges, are shown in Figure 3.

Field mapping of the pegmatites at both Machinga Main and Chinduzi has identified different lithologies
which can be separated by their mineralogy, morphology, geophysical response and mineralization
style, and that there are multiple phases of mineralising events; that the controlling pegmatite swarm is
interpreted to extend under cover; and, that alteration and mineralisation extends into host rock, and is
not confined to pegmatites.

There are at least 5km of additional along-strike potential to the south of the detailed sampling at the
northern end of the Machinga Main Anomaly (Figure 3), defined after an assessment of the geology,
these geochemical results and geophysical surveys.

One generation of pegmatites was also noted to contain relatively coarse pyrochlore, a niobium–
tantalum–uranium oxide. Pyrochlore is recorded as being the major ore mineral at the Kanyika Project
in central Malawi, being explored by Globe Metals & Mining Ltd (ASX: GBE) in a nepheline syenite.

The following tables compare the averages of Resource Star’s surface rock chip assay results with
Inferred Resource grades from Globe’s Kanyika Project. Without extensive drilling, the results to date
cannot imply that similar tonnages exist at Machinga. However, because of similarities in geology
between Kanyika and Machinga, the prospectivity is exciting at this early stage of exploration.
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        Machinga Main Anomaly: Rock Chip Results – ALS Chemex

        All results reported are ICP Mass Spectrometry with Lithium Metaborate fusion; and, where required, over-limit by
        Metaborate Fusion Wavelength Dispersive XRF


                     n = 125                 Peak                 Average             Kanyika HG
                      Nb2O5                  2.99%                 0.36%                  0.38%
                      ZrSiO4                 5.46%                 2.10%                  0.56%
                   Ta2O5 ppm                 1,673                   210                    174
                    U3O8 ppm                  783                     83                    100
                      TREO                   2.64%                 0.42%                   n/a
                %HREO in TREO                69.5%                 26.8%                   n/a

        TREO = Total Rare Earth Oxides (La through Lu + Y), HREO = more valuable Heavy Rare Earth Oxides (Eu through Lu
        +Y); HG = Globe’s 24Mt high grade resource estimate, 3,000 ppm Nb2O5 cut-off. See below for individual REE data

Other prospects defined by the airborne survey (Figure 2), and ground-located by detailed scintillometer
grids, have also returned encouraging results that compare acceptably well with the global Inferred
Resource reported for the Kanyika Project.

        Chinduzi Anomaly: Rock Chip Results – ALS Chemex

                      n = 60                 Peak                 Average              Kanyika Rc
                      Nb2O5                  0.32%                 0.14%                  0.30%
                      ZrSiO4                 4.00%                 0.86%                  0.50%
                   Ta2O5 ppm                  247                    102                    140
                    U3O8 ppm                  129                     45                    80
                      TREO                   0.52%                 0.09%                   n/a
                %HREO in TREO                59.9%                 25.4%                   n/a
        ‘Rc’ = Globe’s Kanyika 55Mt total Inferred Resource estimate, 1,500 ppm Nb2O5 cut-off


        Satellite Anomalies: Rock Chip Results – ALS Chemex

                      n = 25                 Peak                 Average              Kanyika Rc
                      Nb2O5                  0.43%                 0.13%                  0.30%
                      ZrSiO4                 6.49%                 1.11%                  0.50%
                   Ta2O5 ppm                  286                     79                    140
                    U3O8 ppm                  187                     43                    80
                      TREO                   0.59%                 0.17%                   n/a
                %HREO in TREO                42.5%                 21.6%                   n/a


In addition to highly anomalous niobium – zirconium – uranium – tantalum assay results, the Machinga
Project has the added benefit of elevated rare earth elements (REE), which have not been reported by
Globe to date.
      RESOURCE STAR LIMITED                                                                                         4
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      The REE results might suggest that there is a potentially significant by-product credit available to the
      Machinga Project, as seen by comparing the results with Avalon Rare Metals’ (TSX: AVL) Thor Lake
      Project’s recent Resource estimate of 28.4Mt at 1.99% TREO, of which 22.1% are the more valuable
      heavy rare earths.

      The peak and average individual REE results received to date for all rock chips from the northern end of
      the Machinga Main Anomaly are as follows:

n=
125     La2O3    Ce2O3   Pr2O3   Nd2O3   Sm2O3   Eu2O3   Gd2O3   Tb2O3   Dy2O3   Ho2O3   Er2O3   Tm2O3   Yb2O3   Lu2O3   Y2O3
Max     5,314    7,635    969    3,370     676     47      703    135     917      205    616       91    543      72    5,114
ppm

Avg       724    1,627    144      451      81      6       84     15     108       26     88       15    100      14     710
ppm



      Rare earth metals are used in a wide variety of applications including high performance magnets in
      hybrid vehicle and other electric motors, rechargeable batteries, fuel additives, LCD and plasma TV
      monitors and in optical glass for digital cameras. The heavier REEs, to the right of Sm2O3 in the table,
      generally sell for a higher price due to rarity and beneficial properties. The proportion of heavier REEs
      in the Machinga samples compares favourably with other projects.


      Licence Amendment

      Resource Star’s 100% owned subsidiary Eastbourne Exploration Pty Ltd, the holder of EPL0230/07, on
      October 12, 2009 received approval for the expansion of scope of the licence such that the metals
      covered by the tenement now include:

                niobium, tantalum, zirconium, thorium, titanium, gallium, hafnium, gold, and the rare earth
                elements (lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium,
                gadolinium, terbium, dysprosium, holmium, erbium, thulium, yttrium, ytterbium and lutetium);

      as well as the pre-existing uranium. This suite of elements gives coverage of the full range of likely
      economic contributors to the style of mineralisation encountered at Machinga and similar projects.

      Resource Star has also recently lodged an application with the Malawian Department of Mines &
      Minerals to extend EPL0230/07 to the south and the east, to cover the strike continuation and/or
      potential repetitions of the known mineralisation. The additional area applied for amounts to
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      approximately 400km , compared to the currently granted area of some 485km . The final area granted
      may be subject to change by the Department due to pre-existing land uses.



      The information in this report that relates to Exploration Results is based on information compiled by Mr
      Richard Evans, who is a Member of The Australasian Institute of Mining and Metallurgy and a full-time
      employee of the Company. Mr Evans has sufficient experience which is relevant to the style of
      mineralisation and type of deposit under consideration and to the activity which he is undertaking, to
      qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of
      Exploration Results, Mineral Resources and Ore Reserves”. Mr Evans consents to the inclusion in the
      report of the matters based on his information in the form and context in which it appears.
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                   Figure 1: Malawi and Resource Star’s Project Locations
RESOURCE STAR LIMITED                                                                              6
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           Figure 2: Scintillometer results to date: Main Machinga Radiometric Anomaly
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        Figure 3: Rock chip sample distribution and niobium results for all Machinga prospects



Map coordinates are UTM: WGS84 Zone 36S

				
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Description: RESOURCE STAR LIMITED MALAWI EXPLORATION UPDATE 14 October 2009