Red Rock increases stake in Jupiter Mines to 16.73%

May 27, 2008

May 27 (Mineweb) – Red Rock Resources plc (AIM: RRR), the exploration and development company, says that the combined interest of itself and Pallinghurst Resources Australia Ltd in ASX-listed Jupiter Mines Ltd has increased to 25,804,402 ordinary shares, equivalent to 16.73p.c. of Jupiter’s outstanding share capital.  Red Rock and Pallinghurst are deemed to be acting in concert in these transactions.

This follows the acquisition by Pallinghurst of an additional 8,671,661 ordinary Jupiter Shares which brings its total holding to 10,899,999 shares or 7.08p.c. of Jupiter’s issued share capital.  Red Rock’s interest in Jupiter remains at 14,904,403 ordinary shares.

Pallinghurst Resources LLP is an adviser to the Pallinghurst Resources Fund, a specialist vehicle which pursues strategic partnerships and investments in the natural resources sector.  Members of the Pallinghurst team, which includes Mr Brian Gilbertson, have unrivalled track records in creating value in the mining industry and are highly regarded by international mining investors for pioneering and innovative transactions such as the merger creating BHP Billiton.

Red Rock first became a Jupiter shareholder in May 2007 when Jupiter exercised an option to buy Red Rock’s Mt Hope and Mt Ida iron ore tenements in the Central Yilgarn district of Western Australia. Pallinghurst announced the acquisition of an initial holding of 2,228,338 ordinary Jupiter shares at the end of last week.

Commenting today, Red Rock chairman Mr Andrew Bell said: “The pace of events in the area is accelerating and we intend to play an extremely active role”.


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