Molaoi Drilling Update

• Diamond drilling to upgrade the Inferred Resource to Indicated status continues smoothly with the completion of hole HMO-012 at 253.80m, being the 5th hole of the resource upgrade campaign.
• Results for hole HMO-010 are now available and the Company is pleased to advise the market that multiple high-grade zinc and germanium lodes have been confirmed by precise geo-chemical analysis.
• Mineralised intervals in hole HMO-010 include:

§ 0.1m @ 9.6% Zn, 29g/t Ag, 19g/t Ge and 5.8% Pb from 44.24m depth.

§ 1.2m @ 5.5% Zn and 18g/t Ag from 97.50m depth, Including 0.30m @ 54 g/t Ge

§ 5.6m @ 1.3% Zn, 16g/t Ag from 195.45m depth, Including 0.6m @ 5.6% Zn and 19g/t Ge

§ 0.7m @ 4.7% Zn, 22g/t Ag and 29g/t Ge from 238.74m depth.

§ 4.0m @ 5.1% Zn, 23g/t Ag and 15g/t Ge from 256.50m depth, Including 2.3m @ 8.2% Zn, 22.3g/t Ag and 17.7g/t Ge.

• Assay results from hole HMO-011 are awaited and core from hole HMO-012 will shortly be sent to the laboratory.
• A second rig is still awaited and our drilling contractor, Geotest Consulting Engineers in Athens continues to advise the Company that delivery of a second rig is soon to be provided.

David Price, Chief Executive Officer of Rockfire, commented:

"High grade zinc and associated germanium is being consistently encountered at Molaoi. The predictability of high grades continues to demonstrate the value of the Molaoi project as a potential future source of germanium for Europe."

"The variation in width of the lodes is well demonstrated in this hole and importantly, the grades remain very impressive. Where the lodes become narrower, the higher grades compensate for the width. Bear in mind that germanium, silver, and lead will all contribute to a higher zinc equivalent average grade and are expected to become valuable by-products once mining commences."

"The JORC Inferred Resource at Molaoi has recently been converted by our geologists and incorporated into the United Nations Framework Classification for Resources ("UNFC"). The Molaoi deposit is among the first resource deposits in Europe to be reported and classified under the new UNFC Code and Rockfire is proud to achieve this milestone."

"In accordance with the UNFC Code, the Molaoi resources are classified as:

E2, F2.1, G3 for zinc, silver, and lead

E3.2, F3.1, G4.1 for germanium."

"We will continue to update the market with our drilling progress including analytical results from the laboratory as they are received."