REG - Rockfire Resources - Molaoi Drilling Update

Rockfire ResourcesAnnouncement

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RNS Number : 8842Z  Rockfire Resources PLC  10 April 2026

10 April 2026

Rockfire Resources plc

("Rockfire" or the "Company")

 

Molaoi Drilling Update

 

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

Highlights

·      Diamond drilling to upgrade the Inferred Resource to Indicated
Resource status continues with drilling of hole HMO-015 going well and
currently in progress.

 

·      Results from several holes have recently been received from the
laboratory.

 

·      Rockfire is pleased to announce that strong germanium grades
continue to be intersected all the way through the southern zones of the
resource area.

Hole HMO-012 (south and west extension drill hole - see map
below)

·      A zone 2m wide was encountered at 67.23m depth which assays 4.3%
Zn, 20.5g/t Ge and 23.7g/t Ag. This zone includes 0.75m @ 8.9% Zn and 30.1g/t
Ge.

 

·      A 1m wide zone at 76m depth has returned 59.0g/t Ag and 0.2% Cu.

 

·      A narrow (0.15m) interval at 119.85m depth has intersected 1.7%
Cu, which is the second-highest copper value ever recorded at Molaoi.

 

·      Copper tends to become stronger towards the central "feeder zone"
of VMS deposits and can act as a vector towards the source of the deposit-wide
mineralisation.

Hole HMO-013 (south and west extension drill hole - see map below)

·       A 1.2m wide zone grading 32.2ppm Ag, 1.2% Pb, 4.86% Zn and
17.9g/t Ge. This zone occurs at 47.0m depth.

 

Hole
HMO-014

·       Hole HMO-014 encountered slow and difficult drilling
conditions. This hole had a target depth of more than 380m but was suspended
at 195.80m due to caving of the hole and will be re-drilled later. Despite
this, the hole has intersected individual spot pXRF values including 13.86%
Zn, 7.5% Pb and 66ppm Ag at a depth of 172m, which is well above the
anticipated zone of mineralisation below 350m depth.

 

·       It is confirmed by analysis that there is no gold in holes
HMO-012 or HMO-013 associated with the high barium values.

 

·       A break in drilling activities will occur for the Orthodox
Easter celebrations. As some of the drilling contractors will travel home
throughout Europe for Easter, drilling is expected to recommence on the 20(th)
of April 2026.

 

·       The Rockfire Board has committed to the acquisition of the
Company's own drilling rig. This cost will be met from existing cash reserves,
and no additional raising will be required to finalise this acquisition.

 

 

The cleanliness of the pXRF machine is 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 (ORES 620) was measured for accuracy/precision of
the pXRF machine with a reading taken at the beginning of each day.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Drill hole location map within the Molaoi Licence.

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"The southern part of the licence continues to intersect narrow, but strong
zinc and germanium grades. This is very encouraging given the proximity to the
Agios Efstratios zinc prospect at the southern extremity of the licence, where
historical drilling encountered grades up to 27.3% Zn over half a metre wide.
During drilling in the 1980's, germanium was not analysed, so it is very
exciting to discover that germanium mineralisation continues all the way
through this southern area at potentially economic grades."

"The copper grades being encountered are becoming more frequent. This is
likely to lead to a vectoring towards the enriched core of the mineralisation,
which has not yet been discovered. VMS deposits, even when over-printed by
later epithermal mineralisation stem from a central volcanic vent. This
central vent is typically characterised by higher copper values and Rockfire
will use the copper values being collected from drilling to help vector
towards discovering the core of the mineralisation."

"An expert in drilling through unstable, friable ground has visited site and
has made several recommendations which may assist drilling through the broken
ground being encountered above the orebody."

"In the absence of a second drilling rig being provided by our contractor in
Athens, the Rockfire board has committed to buying Rockfire its own brand-new
drilling rig. The cost of this acquisition will be met from existing cash
reserves, and no additional raising will be necessary to meet this cost. It is
expected that the Company's drilling costs will reduce, allowing for more
metres drilled within the existing budget."

"In the meantime, our drilling campaign continues. As we pursue the drill-out
of the resource, we will continue to update the market with our drilling
progress including analytical results from the laboratory as they are received
and interpreted."

 

 

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 technical information in this announcement is based on information
compiled by Mr David Price, the Chief Executive Officer of Rockfire Resources
plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy
(F.AusIMM). Mr Price has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the activity
which has been undertaken to qualify as a "Qualified Person" in accordance
with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr
Price consents to the inclusion in the announcement of the matters based on
their information in the form and context in which it appears.

Glossary

 Item      Definition
 "3D"      three dimensional
 '' Ag''   Silver

 "Au"      Gold
 "Cu"      Copper

 "Ga"      Gallium
 '' Ge''   Germanium
 '' g/t''  grams per tonne
 ''JORC''  Joint Ore Resource Committee
 "km"      Kilometre
 "m"       Metre

 "Ni"      Nickel
 '' Pb''   Lead
 "ppm"     parts per million
 "pXRF"    portable X-Ray Florescence
 "VMS"     volcanogenic massive sulphide
 ''' Zn''  Zinc
 "ZnEq''   zinc equivalent

 

 

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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