28 March 2025

Rockfire Resources plc

("Rockfire" or the "Company")

Important milestones continue to advance Molaoi

Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and precious metal exploration company, is pleased to provide this update regarding the on-going development activities at its 100%-owned Molaoi zinc deposit in Greece.

Highlights

·     A tenement-scale pXRF soil and rock survey on a 200m x 25m grid density is now complete.

·     A high-resolution pXRF soil and rock survey using a 50m x 25m grid density is in progress and continues to expand zinc targets northwards.

·     Strong, coherent zones of zinc and lead have been identified to the north of the Gkagkania prospect, with the Fournos Prospect becoming another important target for the expansion of zinc resources.

·     A new, extensively mineralised zone called the Agios Eustratios Prospect to the south of the main resource area of Kalamaki has been highlighted by the recent survey. Agios Eustratios was drilled in the late 1980's by the Greek Government and returned 0.5m @ 27.3% Zn.

·     Peak results up to 5.57% Zn, 3.47% Pb, 63g/t Ag and 397ppm Cu have been encountered during the pXRF survey from a rock sample between Gkagkania and Fournos prospects.

·     A detailed geological model is being built to assist in understanding the geology at Molaoi. Our consulting geologist, Mick Oates is developing this geological model and has identified textures and structures which may suggest a different origin of the mineralisation from the volcanogenic massive sulphide ("VMS") theory for Molaoi.

·     Our consultant, Mick Oates was a member of the team which won the Australian Association of Mining and Exploration Companies ("AMEC") award for 'Prospector of the Year' in 2019 and part of the Peel Mining team awarded the title of 'Explorer of the Year' in 2022.

·     Wardell Armstrong International, part of SLR Group Consulting ("WAI"), a leading global engineering and mining consultancy has been engaged to assist the development of Molaoi. WAI has already completed an assessment of the reasonable prospects for economic extraction for Molaoi using the resource estimation as announced in an RNS dated 4 September 2024. Based on this assessment, planned drilling will collect core for use in detailed metallurgical tests including ore sorting and the extraction of germanium as a by-product of the zinc concentrate.

·     As announced in an RNS dated 11 February, an application for a permit for revised drill hole positions has been lodged with the government and a new drilling permit is awaited. The market will be informed once this application has been approved and when drilling will commence.

An image showing pXRF soil and rock results. The resource of 1.1million tonnes of zinc is at the Kalamaki Prospect, as shown on the map. The total length of surficial anomalous zinc is now 5.2km long.

David Price, Chief Executive Officer of Rockfire, commented:

"Our work to progress Molaoi continues at pace. Whilst we await the much-anticipated awarding of our revised permit for drilling, the team at Rockfire has been busy on multiple fronts."

"The pXRF survey has continued to the north of the main resource area of Kalamaki and has now tested the entire length of the licence (7.0km) on a 200m x 25m sampling density. Multiple prospects have returned strongly anomalous, soil and rock zinc responses and have been confirmed to be highly prospective, including Vigla, Gkagkania, Fournos,, Sarantaika, Varipati, Perivolaki, Fournos, and Agios Eustratios. Infill sampling on a 50m x 25m sample density remains in progress. The total length of the surface zinc anomalism is now 5.2km."

"Important background work is being conducted to better understand the geology of the deposit. This study focuses on constructing a 3D model to characterize rock subdivisions associated with zinc mineralization, aiming to delineate mappable rocks that control the zinc mineralisation and enhance predictive targeting. The ground at Molaoi is strongly broken and fractured and the team has done an excellent job defining rock boundaries and subtle changes in geology within highly deformed breccia zones. It is being proposed that zinc mineralisation, once thought to have a pure volcanogenic massive sulphide ("VMS") origin, may be more likely to be associated with faulting, shearing and the hydrothermal introduction of sulphide-rich fluids, including zinc and germanium. It is also becoming apparent that sphalerite has been deposited during multiple events and that lead has also been precipitated later, during a second mineralising geological event. This theory is strongly supported by petrology."

"Rockfire is thankful to have globally significant engineering and metallurgical consultants to assist us with the development of Molaoi. We look forward to working alongside them as we approach our infill drilling to define Indicated Resources."

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

Glossary

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 (F.AusIMM). 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 Mineral Resource of 15.0 million tonnes @ 7.26% Zn, 1.75% Pb and 39.50g/t Ag, for 1.5 million tonnes of ZnEq. metal. This resource uses a 4% low-grade cut, and equates to 1.09 million tonnes of zinc, 260,000 tonnes of lead and 19.1 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 farm-in by ASX-listed Sunshine Metals Ltd (ASX:SHN).