Molaoi Drilling Update

o 0.76m @ 22.4% Zn, 187g/t Ag, 8.8% Pb and 34.6g/t Ge at 314.18m downhole depth.

o 1.08m @ 8.2% Zn, 42.5g/t Ag, 1.6% Pb and 22g/t Ge from 407.11m downhole depth

o 4.5m @ 3.0% Zn, 20.7g/t Ag, 0.9% Pb and 20g/t Ge from 417.95m downhole depth.

• Results from the laboratory for drill holes HMO-017 and HMO-018 are awaited.
• Portable XRF readings from hole HMO-018 include:

o Peak individual values of 47.2% Zn and 46.5% Zn

o Peak individual readings up to 5.3% Pb

o Peak individual silver values including 168g/t Ag and 121g/t Ag

o 0.76% Cu is the highest individual copper reading

The pXRF does not measure germanium.

Map showing the location of drill holes at Molaoi

David Price, Chief Executive Officer of Rockfire, commented:

"Strong analytical results from hole HMO-016, together with high grade pXRF results from holes HMO-017 and HMO-018 continue to build the case for a successful upgrade to the Indicated category.

Multiple drill holes are being drilled from the same position, but with differing angles to intersect the mineralisation at varying depths. This is designed to help in-fill between existing drill holes vertically, as well as laterally.

SLR Consulting is closely monitoring our drilling program and continues to provide dynamic updates on the exploration database, the mineralisation model, the lithofacies model and the base of oxidation model.

Some of the conclusions in their latest report include:

• The updated drill hole master files were imported into the 3D mining software, Leapfrog, and reviewed for errors. In general, the drill hole files were error-free and in good shape.
• The oxide model was updated with the oxide logging from the new drill data, resulting in minor thickness changes to oxide and transition domains in the southern and central resource areas.
• The lithofacies model was updated, which showed that although the volcaniclastic packages can be modelled along the strike of the known deposit, new logging suggests the geometry of the packages pinches and swells with short-scale variation in thickness.
• pXRF data in HMO-015 suggests the main mineralised lodes are deeper than previously interpreted and have been potentially offset.
• pXRF data in HMO-016 show that mineralised zones are continuous down dip but are thin.

We will continue to keep the market informed and updated as new information and analytical results become available."