Zinc beneath the main resource 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 drilling program at its 100%-owned Molaoi zinc deposit in Greece has intersected high-grade zinc beneath the main resource. The current drilling programme is aimed at extending the zinc resource both at depth and to the north.

Highlights

• Hole HMO-001 is Rockfire's first resource expansion drill hole. This hole targeted an undrilled extension of the resource model at depth. A 100m long gap in the drilling pattern has returned results which prove that zinc mineralisation extends beyond the current resource model outline.
• HMO-001 intersected 3.44m @ 11.4% ZnEq. (5.1% Zn, 36.6g/t Ag, 0.94% Pb, 35.9g/t Ge) from 228.02m depth.
• A second zone in hole HMO-001 at 239.00m depth intersected 3.30m @ 35.7% ZnEq. (18.5% Zn, 158.5g/t Ag, 2.7% Pb and 81.8g/t Ge).
• A third zone of 2.40m @ 11.2% ZnEq. (6.8% Zn, 2.7g/t Ag, 0.73% Pb and 30.5g/t Ge) was intersected in the same hole at a depth of 245.80m.
• The entire mineralised zone in hole HMO-001 is 20m @ 9.1% ZnEq. (4.6% Zn, 34.6g/t Ag, 0.6% Pb and 23.0% Ge), which commences at 228.02m downhole depth.
• Drilling is continuing at Molaoi, with observations of the core recording visible zinc mineralisation in holes drilled deeper than historical drilling, as well as holes being drilled to the north of the resource.
• The resource is likely to be expanded at depth and along strike 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 at least 400,000 tonnes.

Long Section view of the zinc resource (silver colour), looking towards the west.

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 at least 400,000 tonnes of zinc equivalent metal content."

"Hole HMO_001 was designed to in-fill a very large drilling gap in the resource and this hole has been most successful. These multiple intersections are likely to result in the mineralisation model being extended at depth, potentially adding significant tonnage to the overall resource envelope.

"Hole HMO_002 was drilled approximately 450m to the northwest of the resource. This hole is currently at the laboratory and the management team is eagerly awaiting the analytical results. Exploration success in this hole will open the resource up towards the north and may allow for rapid expansion of tonnes."

"Hole HMO_003 is now complete. This hole drilled deeper, beneath the historical drilling to extend the mineralisation at depth. Visible zinc was recorded in the geological logging of the drill hole. Core from this hole is being cut and sampled and will shortly be sent to the laboratory. Several short, but unique intervals of sulphides (pyrite) and silica veining have been sampled and will be analysed for gold content. There is only very low-grade gold identified so far at Molaoi. However, these short intervals may contain gold owing to the presence of silica and pyrite."

"Drilling of hole HMO_004 has recently commenced. This hole will test beneath the resource to extend mineralisation deeper."

"Drilling is expected to continue both at depth and to the north of the resource in our efforts to expand the resource significantly. It is encouraging to be observing zinc mineralisation in each of the holes at the predicted depths. Drilling results will be released to the market as they become available."

Zinc Equivalent formula: Zn % + (Pb %*0.832) + (Ag ppm*.0344) + (Ge ppm*0.1122)

John Depasquale / George Payne (Corporate Finance)

Guy McDougall / Matt Butlin (Sales and Corporate Broking)