No it doesn't. It indicates that it was a Mk I made with the three pieces of the Mk I bolt release catch being replaced by a simple cut out slot on the bolt guide.
The Mk 2 was a post war re-design and of the No4 with the trigger hung from the receiver metal and not, as per the Mk I from the wooden forestock. A Mk I brought up to Mk 2 standards was designated Mk 1/2 and a Mk 1* brought up to Mk 2 standards was designated Mk 1/3.
That's not to say however that the OP's rifle wasn't subsequently modified by say Fulton's or Parker's to have the trigger hung from the receiver metal. But a No 4 Mk I* is as noted above.
Pedant alert.
Correct in that the bolt release catch was replaced with a slot cut in the ribway near the front of the receiver. There were various other minor economy measure differences. These rifles, No4 Mk1*, were only made by Savage in the States and Long Branch in Canada.
Long Branch also produced a quantity of No4 Mk1*'s in the early fifties, long after Britain had cased production of the Mk1's, in response to a perceive need for the Korean conflict.
The MK2 trigger was indeed mounted directly onto the receiver instead of on the trigger guard, not the wooden fore stock. The Mk2 can be readily identified by the presence of a long transverse screw through the rear of the fore end.

