Ivory Coast - Update

Red Rock Resources Plc, the natural resource exploration and Development Company with interests in gold, copper, cobalt, lithium and other minerals, announces an update to the announcement of 24th January 2024 in relation to the Company's operations in Côte d'Ivoire.

Key points:

• Red Rock holds two licences and two applications totalling 1,404.86 sq km in an area around the capital, Yamoussoukro
• Granted licences now total 725.44 sq km of prospective gold ground
• Three more licence applications in the north of the country totalling about 1,122.88 sq km had been made ("Northern Licences") but these have had to be abandoned before grant due to a regulatory change limiting the number of licences per applicant to four in total
• Each licence or application is located on a known regional shear zone where gold mines are operating
• Each licence or application has significant artisanal mining occurring within and around it
• Red Rock has entered into an agreement with Guardian Metals PLC ("GMP" or "Guardian") to assist GMP in licence applications and licence management

Red Rock Chairman Andrew Bell comments: "There was little warning of the gazetting of new regulations which limited us and other applicants to four licences.

We have now signed an agreement with Guardian Metals PLC under which we will manage the process of licence application for them in Côte d'Ivoire and assist in the development and management of exploration programmes.

We will be paid fees of up to £10,000 plus small additional amounts in respect of our services and will have an option over 25% of any licence granted.

This response to the regulatory change is a positive development, giving us cost-effective exposure to a wider range of projects, and opening the prospect of Further discussions with Guardian.

Red Rock will provide an update across the spectrum of its activities in the coming week.

GMP is an unrelated third party to Red Rock. Under the Terms Sheet signed today Red Rock is to provide satisfactory records of work already done and progress achieved in relation to licence applications. Red Rock will then be contracted to establish a local subsidiary of GMP and apply for up to three licences. GMP will provide funding for the applications and associated costs and pay a mobilisation fee of £10,000 in two instalments.

Red Rock will assist GMP in developing an exploration programme for any granted applications, as well as provide exploration and management personnel at a fair and agreed market rate.

Red Rock will have a 0.5% Net Profit Interest based on the net operating profit of granted licences, and will have the option to buy into 25% of any licence at an amount equal to 25% of any accumulated Costs and Fees, as those terms are defined, for a period of three years.