Molaoi Update

Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and precious metal exploration company, provides the market with this drilling and operational update from Rockfire’s 100%-owned Molaoi zinc deposit in Greece.

Highlights

GeoRes Mining Consultants has provided an update on their progress of delivering a maiden JORC Inferred germanium resource estimate. The Company expects the delivery of the estimate to be delayed by several weeks beyond the previously anticipated timeframe owing to the interpretation of a considerable number of new zones of mineralisation encountered in recent drilling.

The additional zones identified have resulted in a re-interpretation of the original zinc resource model, including an initial interpretation of the multiple new germanium lenses encountered in recent drilling.

Drill hole HMO-022 was successfully completed to a depth of 308.90m. A total of 5 zinc lodes were intersected. The last lode was intersected at 293m which is a length of approximately 1.5m with individual zinc pXRF readings peaking at 47.7% Zn. Core samples from hole HMO-022 have been sent to the laboratory.

Diamond drilling to upgrade the mineral resource from Inferred to Indicated continues, with hole HMO-023 now in progress.

A drone-hosted aerial magnetic survey to cover the entire licence area is now complete. The data is currently being collated, modelled and interpreted. The geophysicists are reportedly satisfied with the quality of the data.

The Company commissioned TOMRA, a Norwegian-based ore sorting firm to undertake initial ore sorting tests on anticipated ore feed material from Molaoi. These tests are designed to determine if an improvement in feed grade can be achieved through the addition of an ore sorting stage in the pre-grinding flowsheet. These tests have already been completed, and the results will be announced to the market once received from TOMRA.

The cleanliness of the pXRF machine was established by measuring a BLANK reference material (a translucent quartz crystal) at the beginning of each day. A Certified Reference Material (CRM) specific to volcanic-hosted massive sulphide Zn-Pb-Cu-Ag-Au ore (OREAS 620) was measured for accuracy/precision of the pXRF machine with a reading taken at the beginning of each day. pXRF readings are preliminary and indicative only and are not a substitute for laboratory assays. Laboratory analysis will be undertaken.

Drill hole location map within the Molaoi Licence.

David Price, Chief Executive Officer of Rockfire, commented:

“The delay in the resource estimation delivery date, whilst regrettable, is a good sign that the germanium intercepts are so prolific and require considerably more work than first anticipated by the consultant. The reinterpretation of the initial model is a time-consuming and laborious process involving more than 1,360 individual zinc/germanium lode intercepts within the 2km long deposit. This number of intercepts is considered extremely high frequency, with most standard zinc deposits having between 50 and 250 intercepts. A marginally steeper dip has required re-assignment of many of the previously modelled intercepts.

The Company is looking forward to the results of the ore sorting tests which have the potential to increase the average head grade of feed into a ball mill. These tests are designed to provide input into a feasibility study planned for 2027.

The drone magnetics survey was completed in good time, and the results of this work will be released to the market once they have been received by the Company.

The market will continue to be informed and updated as we advance the Molaoi Project.”