Placing Update: Additional Tranche To Raise £75k

GreenRoc Mining Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that, further to the RNS on 22 November 2023, it has received additional gross proceeds of £75,000 by way of a placing of 3,000,000 new ordinary shares of 0.1 pence each (the "Additional Tranche Placing Shares") at a price of 2.5 pence per share (the "Placing Price") (the "Additional Tranche").

This follows the Company raising gross proceeds of £460,786 by way of a placing of 18,431,452 new ordinary shares of 0.1 pence each at a price of 2.5 pence per share as announced in the Company's RNS on 22 November 2023 (the "Original Placing")

As a result, the Company has now raised gross proceeds from both the Original Placing and the Additional Tranche of £535,786 by way of a placing of 21,431,452 new ordinary shares of 0.1 pence each at a price of 2.5 pence per share.

The Company has agreed to facilitate the Additional Tranche in particular to accommodate a request from an existing shareholder of the Company who did not meet the book closing deadline for the Original Placing. The net proceeds of the Additional Tranche will support general working capital requirements.

GreenRoc's CEO, Stefan Bernstein, commented:

"The additional tranche of the placing of £75,000 underlines the demand from shareholders and demonstrates strong investor confidence in the business model, the assets, and the future prospects of the Company."

Additional Tranche Placing Shares: Admission to Trading on AIM and Total Voting Rights

Application will be made for the Additional Tranche Placing Shares, which will rank pari passu with the existing ordinary shares of 0.1 pence each, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings will commence at 8:00 a.m. on or around 1 December 2023.

Following the issue of the Additional Tranche Placing Shares, the total issued share capital of the Company will consist of 168,114,162 ordinary shares of 0.1 pence each. The Company does not hold any ordinary shares in Treasury, therefore the total current voting rights in the Company following Admission will be 168,114,162. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

About Amitsoq

Key points about Amitsoq:

• Greenroc Mining plc holds the Amitsoq exclusive exploration licence MEL2013_06 of a total of 72.52km2 in the South of Greenland.
• Amitsoq has a total inferred, indicated and measured JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% Graphitic Carbon ("C(g)"), giving a total graphite content of 4.71 Mt.
• Results of the Preliminary Economic Assessment were released on 31 October 2023 stating a post-tax NPV8 of US$179M at an IRR of 26.7%. Capex estimated at US$131M including a 25% contingency.
• Several samples have been extracted for the purpose of testing the quality of the Amitsoq graphite.
• In GreenRoc's test work programmes, Amitsoq spheronised graphite has achieved higher than 99.95% purity with relatively little energy input and processing and using the milder alkaline purification method compared to the industry standard hydrofluoric acid, boding well for future production costs and sustainability commitments.
• On 9 October 2023, GreenRoc was awarded a grant of approximately £250,000 by the Automotive Transformation Fund in the UK to part-finance a feasibility study into the establishment of a graphite spheronisation processing plant in the UK to produce active anode material from graphite concentrate delivered from GreenRoc's Amitsoq Graphite Project.