Molaoi Drilling Update

• Results from drill hole HMO-015 have been received from the laboratory, with highlights below.

o 0.82m @ 8.7% Zn, 28.5g/t Ag, and 27.4g/t Ge from 350m downhole depth

o 11.9m @ 8.8% Zn, 49.0g/t Ag and 25.2g/t Ge from 354.90m downhole depth

o 3.02m @ 7.5% Zn, 40.9g/t Ag, 19.0g/t Ge and 1.3% Pb from 386.28m downhole depth

*** Please note that quoted widths are downhole widths ***

• Portable XRF ("pXRF") readings being recorded in hole HMO-017 are encouraging, with individual, spot zinc values up to 51% Zn, 72g/t Ag, 0.38% Cu and 5.1% Pb being recorded over narrow intervals at a depth of approximately 288m from surface. The pXRF does not measure germanium.
• Results of core samples from hole HMO-016 are awaited from the laboratory.

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Map showing the location of drill holes at Molaoi

David Price, Chief Executive Officer of Rockfire, commented:

"Hole HMO-015 is drilled within the main zone of mineralisation at Molaoi, which extends for more than 1,300m north-south. Similar, previous, strong intervals within 65m of hole HMO-015 include:

HMO-004 - 8.8m @ 8.8% Zn, 49.0g/t Ag, 16.0g/t Ge from 258.4m depth (Rockfire hole)

AN007 - 12.3m @ 4.8% Zn, 20.0g/t Ag, 1.13% Pb from 120.1m depth (historical hole)

AN004 - 4.0m @ 8.5% Zn, 36g/t Ag, 1.85% Pb from 134.3m depth (historical hole)

HMO-003 - 3.6m @ 6.0% Zn, 32.5g/t Ag, 1.1g/t Pb, 17.4g/t Ge from 202.5m depth (Rockfire hole)

B035 - 3.0m @ 7.0% Zn, 39.5g/t Ag and 2.88% Pb from 255.3m depth (historical hole)

AN006 - 3.7m @ 14.3% Zn, 52.0g/t Ag, 1.4% Pb from 99.50m depth (historical hole)"

*** Please note that quoted widths are downhole widths ***

"As shown in the above examples, there is considerable variation of both grade and width of the mineralised lodes. This variation is expected in mineral deposits, however the critical characteristic of Molaoi to remember is that every hole in the main lode has intersected zinc, silver, germanium and lead. The mineralisation continues to be robust and predictable."

"I take this opportunity to highlight that local community support for the project remains strong and the government in Athens is also strongly supportive of Rockfire and the drilling activities being undertaken. Our use of above-ground tanks instead of digging in-ground sumps where possible is appreciated by the landowners. Rockfire is proud of its track record of not having destroyed any olive trees, despite drilling between rows of old-growth trees."

"The market will continue to be informed and updated as new information and results come to hand."