4 March 2024

Rockfire Resources plc

("Rockfire" or the "Company")

High grade germanium intersected at Molaoi

Rockfire Resources plc (LON: ROCK), the base metal, precious metal, and critical mineral exploration company, is pleased to announce that the Company's active drilling program at its 100%-owned Molaoi zinc deposit in Greece has encountered the highest germanium grade drilled by Rockfire so far.

Highlights

·    Holes MO_GTK_0010 and MO_GTK_011 are the final holes drilled as part of our twinning program to replicate historical holes. These 4 twinned (replicate) holes were drilled to gain confidence in the positioning of mineralisation within the resource, which is largely established from historical drilling of 176 diamond drill holes during the 1980's.

·    Hole MO_GTK_010 intersected 0.67m @ 9.9% Zn, 23.0g/t Ag and 26.0g/t Ge from 76.30m depth. A second, deeper zone at 79.10m depth intersected 1.22m @ 4.6% Zn, 1.4% Pb, 23.0g/t Ag and 22.4g/t Ge. No sampling occurred at these depths in the original drill hole being replicated from the 1980's (AN23).

·    Hole MO_GTK_011 intersected the highest germanium grade drilled by Rockfire so far at Molaoi. From 155m depth, 0.6m @ 136.5g/t Ge was intersected, along with 34.4% Zn and 95.6g/t Ag. This interval occurs within a broader zone of 2.3m @ 11.6% Zn, 54.94g/t Ag and 50.88g/t Ge.

·    Hole MO_GTK_011 also intersected a deeper interval starting from 197m depth, which averages 13.44m @ 4.37% Zn, 1.62% Pb, 32.54g/t Ag and 20.85g/t Ge. The original hole (AN018), which was replicated by hole 11 intersected 4.60m @ 7.34% Zn. The variation in grade and width is explained by differences in sampling intervals and sampling lengths.

·    Diamond drilling is continuing, with the third resource expansion hole in progress.

·    Observations of the core show visible zinc mineralisation is being intersected in holes drilled deeper than historical drilling. This may result in the resource being expanded at depth once the analyses are completed at the laboratory.

·    Further, observations in the core also show visible zinc mineralisation is being intersected in holes drilled further to the north of historical drilling. This may result in the resource being expanded towards the north once the analyses are completed at the laboratory.

·    Rockfire is striving to expand the zinc resource at Molaoi. A JORC Inferred Resource of 250,000 tonnes of zinc equivalent metal has been estimated at Molaoi, and the Company is targeting a zinc equivalent resource of between 400,000 tonnes and 450,000 tonnes.

Plan view of the zinc resource (light blue colour), showing the location of historical drillholes (black dots), Rockfire geotechnical holes (red dots) and Rockfire resource expansion holes (green dots).

David Price, Chief Executive Officer of Rockfire, commented:

"Molaoi has an Inferred JORC resource of 250,000 tonnes of zinc equivalent metal. Our overall objective is to increase the resource to between 400,000 and 450,000 tonnes of zinc equivalent metal content, which would provide a 10-year mine life for a modest underground mining operation."

"Drilling is continuing at Molaoi. Hole HMO_001 was designed to in-fill a very large drilling gap in the resource. Visual observations of zinc mineralisation in the core suggest that the hole has been successful in filling that gap. Assay results are awaited, so it is premature to predict the grade until the results from the analyses are available. Core from this hole is at the laboratory, awaiting analysis."

"Hole HMO_002 was drilled approximately 450m to the northwest of the resource. A faulted offset of the mineralisation was interpreted, and this hole was designed to test that faulting theory. Visual observations of the core suggest that this theory is correct, with visible zinc being recorded in the geological logging of the drill hole. Again, assay results will determine the grade of this intersection. This hole has not been sent to the laboratory yet and is currently being cut and sampled."

"Drilling of hole HMO_003 is in progress. This hole is designed to drill deeper, beneath the historical drilling to extend the mineralisation deeper. The hole is currently above the target depth, but it is encouraging that visible zinc is being observed in short intervals well above the anticipated depth to mineralisation."

"This is an exciting expansion phase of drilling, and our field team is pleased to observe zinc mineralisation in each of the holes at the predicted depths. This expansion drilling will continue in our effort to achieve the +400,000 tonnes of zinc equivalent resource being targeted. Both depth and strike extensions are being tested in alternate drill holes. We will continue to inform the market as results become available.

For further information on the Company, please visit www.rockfireresources.com or contact the following: 

Qualified Person Statement

The technical information in this announcement is based on information compiled by Mr David Price, the Chief Executive Officer of Rockfire Resources plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Price has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a "Qualified Person" in accordance with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr Price consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

Notes to Editors

Rockfire Resources plc (LON: ROCK) is a gold, base metal and critical mineral exploration company, with a high-grade zinc/lead/silver/germanium deposit in Greece and a portfolio of gold/copper/silver projects in Queensland Australia.

§ The Molaoi deposit in Greece has a JORC Inferred Resource of 2.3 million tonnes @ 11 % ZnEq. for 250,000 tonnes of ZnEq. This resource uses a 4% low-grade cut, with individual elemental grades of 9.4 % Zn, 1.7 % Pb and 47 g/t Ag. This equates to 210,000 tonnes of zinc, 39,000 tonnes of lead and 3.5 million ounces of silver.

§ The Plateau deposit in Queensland has a JORC resource of 131,000 ounces of gold and 800,000 ounces of silver, using a 0.5g/t Au cut off. 53,000 of these ounces lie within the top 100m from surface. Plateau is subject to a joint venture with ASX-listed Sunshine Metals Ltd (ASX:SHN).