Greek Government approve Molaoi environment study

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.

20 April 2023

Rockfire Resources plc

("Rockfire" or the "Company")Greek Government approves Molaoi environmental study

Rockfire Resources plc (LON: ROCK), the base metal, gold and critical mineral exploration company, is delighted to announce that the Company's environmental study permit at Molaoi has been approved by the Greek Government.

Highlights

· The Greek Government has approved an application by Rockfire for resource definition and step-out drilling for the next 5 years at Molaoi.

· The granting of this permit provides authority for Rockfire to drill for the next 5 years, although the Company intends to expedite this drilling, and to complete as much drilling as possible in 2023.

· This decision by the Greek Government has been received in swift time and is a clear affirmation of the resolve of the Greek Government to facilitate foreign investment in the mining sector.

· 179 drill holes had already been drilled at Molaoi by the Greek Government, meaning that all future drilling is building confidence in a deposit which is already well defined.

David Price, Chief Executive Officer of Rockfire, commented:

"The Greek Government has previously drilled 179 exploration holes at Molaoi, so Rockfire is not focussed on any further exploration. Our planned drilling for the remainder of 2023 is designed to upgrade the resource from 'Inferred' to the 'Measured and Indicated' categories. Once this milestone is achieved, the Company will move as quickly as possible to complete a feasibility study. We remain on track to achieve this milestone and the granting of this permit is a very important step in our development plans. The market will continue to be informed of progress at Molaoi, including drilling assay results as they are received."

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

Notes to Editors

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

§ The Molaoi deposit in Greece has a JORC resource of 210,000 tonnes of zinc, 39,000 tonnes of lead and 3.5 million ounces of silver, using a 4% Zn cut off.

§ 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.

§ The Copperhead deposit in Queensland has a JORC resource of 80,000 tonnes of copper, 9,400 tonnes of molybdenum and 1.1 million ounces of silver, using a 0.13% CuEq. cut off.