COMPLII FINTECH SOLUTIONS LTD — Interim / Quarterly Report 2012

Oct 29, 2012

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Level 9, 440 Collins Street, Melbourne VIC 3000

www.ResourceStar.com.au ABN 71 098 238 585

RESOURCE STAR QUARTERLY REPORT TO 30 SEPTEMBER 2012

HIGHLIGHTS

Livingstonia Uranium Project

• Discussions with the Malawian Government regarding the transfer of the Livingstonia Uranium Project in Malawi to Resource Star continued through the quarter. The transfer is now before the relevant Minister for signing

Ilomba Hill Rare Earths Project

• During the quarter, Resource Star completed a program of rock chip sampling at the Ilomba Hill Rare Earths Project in Malawi

Specimen Reef Project

• Nimrodel Resources announced following the end of the quarter that it has commenced an exploration program at Specimen Reef in Tasmania that includes two diamond drill holes

Corporate Development

• Resource Star has continued to evaluate potential new projects during the quarter. This will continue in the current quarter with several opportunities under review at present. Given the likely cost of any acquisition, shareholders would be expected to have the opportunity to approve such a transaction; and

• After the end of the quarter it was announced that Resource Star would acquire 100% of the Spinifex Uranium Project from Thundelarra and the parties would terminate their existing joint venture

Funding

Resource Star’s major shareholder, Red Rock Resources has confirmed its intention to provide Resource Star with on-going financial support.

For further information contact:

Andrew Bell, Chairman Simon Heggen, Managing Director

+44 7766 474849

+61 3 9607 1322

Resource Star Ltd

QUARTERLY REPORT – SEPTEMBER 2012

Introduction

Resource Star Ltd (‘Resource Star’, or ‘the Company’) ( ASX: RSL ) is pleased to provide its quarterly report for the period ended 30 September 2012.

During the quarter, Resource Star has continued a disciplined and cost effective focus on its current portfolio of uranium, rare earth and uranium-related projects in regions of known prospectivity that present strong mineral development potential, namely Australia and Malawi in south eastern Africa.

This focus is against a background of continuing negative market sentiment, at least in the short term, towards uranium exploration companies. During this time, Resource Star has taken the opportunity to gain greater control of its two previously joint ventured uranium projects, Livingstonia and Spinifex at a cost reflecting the current market rather than the more expensive entry terms negotiated during times of higher uranium prices.

These transactions enable Resource Star to retain its exposure to the strongly positive, medium and long term fundamentals for uranium while giving it the capacity to manage expenditure levels with much more flexibility.

Importantly, Resource Star has continued to seek out potential, company transforming acquisition opportunities not necessarily related to uranium and this work is ongoing. Necessarily, this diversification strategy has the support of major shareholder, Red Rock Resources plc (“Red Rock Resources”). Which is fundamental to ensuring that an acquisition of a meaningful size may ultimately be approved by the Company’s shareholders?

Resource Star continues to focus on expenditure restraint. This restraint unfortunately reduces exploration levels and specifically the more expensive drilling activity that could be undertaken but it is necessary to ensure that Resource Star keeps all options available for the longer term benefit of all shareholders and to avoid excessively diluting capital raisings. Notwithstanding, the Company was able to complete a rock chip sampling program at Ilomba Hill in Malawi during the quarter. Resource Star is considering further cost reduction measures presently.

Operations

Livingstonia Uranium Project - Malawi

On 15 May 2012, Resource Star announced that it had agreed with its joint venture partner, Globe Metals and Mining Limited (“Globe”) to restructure their joint venture arrangements and to effectively swap Resource Star’s remaining 80% interest in the Machinga Rare Earth Project for Globe’s remaining 80% interest in Livingstonia while each party retains a royalty interest in the divested project.

The process of completing this transaction and transferring the tenements has been underway since that date. Discussions and meetings with the Malawian authorities have been continuing and we now understand that the relevant transfers are with the Minister’s office for signing. The Company is optimistic that this will occur shortly.

Ilomba Hill Rare Earth Project – Malawi

A rock chip sampling program was completed at Ilomba Hill in early August 2012, and is the first systematic sampling of fresh rock across the whole of the prospective units, which contain extensive rare earth anomalism away from the localised peak radiometric response that drew the attention of the early prospectors, as demonstrated in RSL’s earlier soil survey.

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A total of six lines of sampling were undertaken over a grid of 150mE X 50mN. The grid enabled most of the aegerine nepheline syenite and microsyenite to be sampled.

The sample locations are shown on the figure below.

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The sampling program took 10 days to complete. A total of 187 samples were collected, including 6 duplicates, for QA/QC purposes. The samples are to be forwarded to a laboratory in Johannesburg for analysis.

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Specimen Reef Project - Tasmania

Nimrodel Resources Limited (ASX:NMR) made the following comments on Specimen Reef in its September 2012 Quarterly Report lodged with the ASX on Friday 26 October 2012. Nimrodel is earning up to 65% in the Project by spending $10 million.

Nimrodel Resources, in joint venture with Resource Star Limited, (ASX:RSL) has commenced an exploration program consisting of two diamond holes on EL11/2005 in north western Tasmania. EL11/2005 abuts the northern boundary of Savage River Iron Mine (Figure 1).

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Figure 1: NW Tasmania showing the Location of EL11/2005 (red block) and a generalised extent of the Arthur Metamorphic Complex (green area).

The Company is of the view that the Arthur Metamorphic Complex is a large scale hydrothermal system characteristic in age, tectonic setting, and mineralogy that is consistent with IOCG mineralisation. This is also supported by historic reports of mineralisation from the proposed drill hole location area including;

• The proximity to a remnant underground gold mine that operated in 1880.

• The presence of copper mineralisation in the mine reported in the historical geological descriptions from within the mine adits.

• A gold intersection of 910 grams per tonne over 0.2m at 140m depth in a 1982 exploration drill hole around the old workings.

• The presence of the uranium mineral, brannerite reported in the petrographic examination of the 1982 gold intersections by the University of Tasmania in 1998.

The proposed exploration drill holes are located 1 km west of the historical gold mine and 3 km north of the Savage River Iron Ore mine within the Arthur Metamorphic Complex. The targets were generated from an

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aeromagnetic interpretation completed by Southern Geoscience on behalf of Nimrodel. The magnetic anomalies to be drilled are also coincident with anomalous gold and copper values reported from historic stream sediment sampling. (Figure 2).

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Figure 2 Location of current drill hole targets on (RTP) Magnetics showing NE trend of Savage River Mine magnetic feature.

Corporate Development

During the last quarter Resource Star has again evaluated opportunities to acquire new projects in both Australia and overseas. To date, none of the opportunities have met the Board’s criteria for acquisition.

Given that the likely cost of any acquisition relative to Resource Star’s market capitalisation, shareholders would be expected to have the opportunity to formally consider it, have access to comprehensive information and to eventually vote on any acquisition. Resource Star will keep shareholders informed of any developments.

Resource Star’s Northern Territory tenements continue to be under review.

Corporate

Cash Position

As at 30 September 2012 the Company held $129,000 in cash.

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Subsequent Events

Acquisition of Spinifex Uranium Project

On 29 October 2012, Resource Star announced that it and joint venture partners Thundelarra (ASX:THX) have agreed to terminate their Spinifex joint venture and Resource Star will acquire 100% of the Spinifex tenement (E80/3572) from Thundelarra.

Resource Star believes that this is an opportunity to acquire 100% of a drill ready, potentially high grade exploration project on relatively attractive terms and to deliver greater flexibility for the Company in exploring the tenement.

Under the existing joint venture agreement, Resource Star could have earned 20% equity by completing 1,000m of drilling and a further 31% by spending a total of $500,000. From there, Thundelarra could have chosen to contribute on an equity basis or be diluted to 30% through to completion of a JORC compliant Resource, and further, chosen to contribute or be diluted to 10% on completion of a Feasibility Study.

The 5 million shares to be issued to Thundelarra as consideration will be issued under Resource Star’s 15% placement capacity.

The NSR in favour of Thundelarra, agreed between the Parties in the original joint venture will be retained by Thundelarra and all cultural and heritage agreements to which Thundelarra is currently party will be sought to be assigned as part of the transaction.

Spinifex Geology

Spinifex is an unconformity-related uranium project that is located approximately 50km south of Kununurra in Western Australia. The tenement covers about 119 square kilometres. Resource Star and Thundelarra announced the formation of a joint venture to explore Spinifex on 4 April 2011.

Previous exploration at Spinifex by Uranerz and Metals Miniere has reported trenching results of up to 13.5% U3O8 and 50% of samples taken recording in excess of 2,000ppm U3O8. Work by Thundelarra included 4 samples reporting in excess of 0.5% U3O8 and an average for the remainder of 140ppm U3O8.

Since the joint venture was formed, the tenement term has been extended for a two year term until the end of 2013 and Resource Star has completed additional geological mapping, identified drill hole locations, and obtained permits and heritage clearance to proceed with an initial drilling program. Indications of the cost of a program have been received and discussions held with prospective contractors.

Funding

Resource Star’s major shareholder, Red Rock Resources has confirmed its intention to provide Resource Star with financial support. The support will be provided either by equity, short term loans, or bonds or convertible stock. Any loans would not be repayable before October 2013.

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Company Directory Resource Star Ltd

ABN 71 098 238 585

Registered Office:

Level 9, 440 Collins St Melbourne, Victoria, Australia, 3000 Phone: +61 3 9607 1322 Fax: +61 3 9607 1329

Website www.ResourceStar.com.au Email info@ResourceStar.com.au

Directors

Andrew Bell (Chairman) Simon Heggen (Managing Director) Ross Kestel (Non Exec) Rob Benussi (Non Exec)

Management

Richard Evans (Technical Consultant) Baker Khudeira (Exploration Manager)

Eryn Kestel (Company Secretary)

Share Registry

Computershare Ltd GPO Box D182 Perth, WA, 6840

ASX Listed Securities (as at 30 September 2012): 113,856,414 Ordinary Shares; and 45,964,041 September 2012 Listed Options

Competent Person Statements

The information in this report that relates to Exploration Results is based on information prepared by Mr Richard Evans, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Evans is a consultant of the Company and 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.

Forward Looking Statements

This report contains ‘forward-looking information’ that is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. This forward-looking information might include, among other things, statements with respect to the Company’s business strategy, plans, objectives, performance, outlook, growth, shareholder value, projections, targets and expectations, Mineral Reserves and Resources, results of exploration and related expenses, property acquisitions, mine development, mine operations, drilling activity, sampling and other data, grade and recovery levels, future production, capital costs, expenditures for environmental matters, life of mine, completion dates, uranium prices, demand for uranium, and currency exchange rates. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘would’, ‘could’, ‘should’, ‘scheduled’, ‘will’, ‘plan’, ‘forecast’ and similar expressions. Persons reading this report are cautioned that such statements are only predictions, and that the Company’s actual future results or performance may be materially different.

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Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company’s Annual Report.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to update or revise any forward-looking statements whether as a result of new information