REG - Rockfire Resources - Marengo Goldfield Update

Rockfire ResourcesAnnouncement

01/06/2026 12:00

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RNS Number : 4889G  Rockfire Resources PLC  01 June 2026

                         1 June 2026

Rockfire Resources plc

("Rockfire" or the "Company")

 

Marengo Goldfield Update

 

Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and
precious metal exploration company, is pleased to notify the market that an
update on exploration activity at the Marengo Goldfield in Queensland,
Australia has been provided to the Australian Stock Exchange by Eastern
Resources Limited (ASX:EFE).

Eastern Resources Limited ("Eastern") entered into a binding farm-in agreement
with Rockfire on the 29 September 2025 (the "Farm-in"), which sees Eastern
sole-funding the exploration at Marengo for the next 3 years, with funding
being engaged on direct expenditure on the tenement.

 

Highlights

•           Maiden fieldwork completed.

•           In excess of 200 isolated quartz localities
identified.

•           Discovery of approximately 1.7km of continuous vein
system.

A link to the original announcement by Eastern can be found below:

https://easternresources.com.au/wp-content/uploads/2026/06/Fieldwork-Completed-Marengo-Gold-Project.pdf
(https://easternresources.com.au/wp-content/uploads/2026/06/Fieldwork-Completed-Marengo-Gold-Project.pdf)

 

David Price, Chief Executive Officer of Rockfire, commented:

"It is pleasing to see that Eastern has commenced its field work and is
identifying targets. Assay results are pending from the laboratory, and the
market will be informed when these results have been received."

"In the meantime, our drilling at Molaoi in Greece continues and the market
will be informed regularly as our drilling programme progresses and as
drilling results are received."

 

 

 

 

Principal terms of the joint venture (the "JV")

The Farm-in involves the Marengo Goldfield Project exploration permit EPM25715
in Queensland, Australia.

During the sole funding period, Eastern must keep the Tenements in good order
and meet all statutory reporting, rehabilitation and expenditure obligations.
This includes meeting the following expenditure on the Tenement (being for
exploration and compliance activities):

•          within the first 12-month period (Stage One), expend at
least AUD $250,000

•          within the second 12-month period (Stage Two), expend an
additional amount of at least $500,000; and

•          within the third 12-month period (Stage Three), expend
an additional amount of at least $750,000

This results in a total expenditure of AUD$1,500,000 to the end of Stage
Three.

On meeting expenditure in each Stage, Rockfire will:

•          at the completion of Stage One, transfer a 20% interest in
the Tenement;

•          at the completion of Stage Two, transfer an additional
31% interest in the Tenement; and

•          at the completion of Stage Three, transfer an additional
29% interest in the Tenement,

This results in a total of 80% transfer of interest in the Tenement once all
of the expenditure has been made.

The broad outline of the JV Agreement (to be subsequently signed) allows for
the following:

•       Once Eastern has achieved an 80% equity in Marengo, the parties
will continue to fund the project jointly on a pro-rata basis in accordance
with a JV Agreement to be finalised.

•       Eastern shall pay AUD$1 million to Rockfire in cash or Eastern
shares at Eastern's option, upon Eastern announcing a JORC Mineral Resource
Estimate (MRE) of at least 500,000 ounces of gold, with a minimum average
grade of 2.5 grams per ton Au. If Eastern elects to issue shares, the value
will be at the 30 day VWAP for such shares at the time of announcement.

 

 

 

 

 

 

 

 

For further information on the Company, please
visit www.rockfireresources.com (http://www.rockfireresources.com/)  or
contact the following:

 

 

 Rockfire Resources plc                                      E-mail: info@rockfire.co.uk (mailto:info@rockfire.co.uk)
 David Price, Chief Executive Officer

 Allenby Capital Limited (Nominated Adviser & Broker):       Tel: +44 (0) 20 3328 5656
 John Depasquale / Ashur Joseph (Corporate Finance)
 Matt Butlin (Sales and Corporate Broking)

 CMC Markets UK Plc (Joint Broker)                           Tel: +44 (0)20 3003 8632
 Douglas Crippen

 Oak Securities (Joint Broker)                               Tel: +44 (0) 20 3973 3678
 Jerry Keen / Robert Bell

Qualified Person Statement

The information in this release that relates to Exploration Results is based
on and fairly represents information and supporting documents complied by Mr
Glenn Coianiz, consultant to Eastern Resources. Mr. Coianiz is a Registered
Professional Geoscientist and Member of the Australian Institute of
Geoscientists. Mr. Coianiz has sufficient relevant experience that is relevant
to the style of mineralisation and type of deposit under consideration and to
the activity being undertaken to qualify as a Competent Person within the
definition of the 2012 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves ("JORC Code).

Notes to Editors

Rockfire Resources plc (LON: ROCK) is a gold, base metal and critical mineral
exploration company, with a high-grade zinc/lead/silver/germanium deposit
in Greece and a portfolio of gold/copper/silver projects in Queensland
Australia.

·    The Molaoi deposit in Greece has a JORC Inferred Mineral Resource
of 15.0 million tonnes @ 7.26% Zn, 1.75% Pb and 39.50g/t Ag, for 1.5 million
tonnes of ZnEq. metal. This resource uses a 4% low-grade cut, and equates to
1.09 million tonnes of zinc, 260,000 tonnes of lead and 19.1 million ounces
of silver. Molaoi is also reported under the UNFC Code with classification E2,
F2.1, G3 for Zn, Ag, and Pb, and E3.2, F3.1, G4.1 for Ge.

 

·    The Plateau deposit in Queensland has a JORC Inferred Resource of
131,000 ounces of gold and 800,000 ounces of silver, using a 0.5g/t Au cut
off. 53,000 of these ounces lie within the top 100m from surface. Plateau is
subject to a farm-in by ASX-listed Sunshine Metals Ltd (ASX:SHN).

 

·      The Marengo prospect in Queensland hosts high-grade gold,
silver and copper within an historic goldfield, which is entirely under
licence by Rockfire. Marengo is subject to a farm-in by ASX-listed Eastern
Resources Ltd (ASX:EFE).

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