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6 December 2024

Rockfire Resources plc

("Rockfire" or the "Company" or the "Group")

Placing to raise £660,000

and

Proposed Retail Offer

Rockfire Resources plc (LON: ROCK), the base metal, precious metal, and critical mineral exploration company, announces that it has conditionally raised £660,000 (before expenses) by way of a placing (the "Placing") of a total of 550,000,000 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 0.12 pence per new Ordinary Share (the "Issue Price").

The Directors intend for the net proceeds of the Placing to be used, in conjunction with Rockfire's existing available cash, to continue development of the Company's Molaoi zinc/silver/lead/germanium project in Greece. Rockfire is in a unique position with large resources of zinc and associated germanium, both of which are considered critical raw materials. Proceeds will also be used to fund on-going working capital requirements within the Company.

In addition to the Placing, it is proposed that there will be a separate conditional retail offer to existing shareholders to raise up to £120,000 (before expenses) at the Issue Price (the "Retail Offer", together with the Placing, the "Fundraise"), to provide existing retail shareholders in the Company an opportunity to participate in the Fundraise. A separate announcement will be made shortly by the Company regarding the Retail Offer and its terms.

Those investors who subscribe for new Ordinary Shares pursuant to the Retail Offer (the "Retail Offer Shares") will do so pursuant to the terms and conditions of the Retail Offer contained in that announcement. 

CMC Markets UK Plc trading as CMC CapX, acted as the Company's sole placing agent in respect of the Placing.

Details of the Placing

The Fundraise comprises the Placing of 550,000,000 new Ordinary Shares (the "Placing Shares") and up to 100,000,000 Retail Offer Shares (together the "Fundraise Shares") at the Issue Price. The Fundraise Shares are to be issued pursuant to the authorities granted to the Board at the Company's annual general meeting held on 28 June 2024 on a non-pre-emptive basis.

Completion of the Retail Offer is conditional, inter alia, upon completion of the Placing. Completion of the Placing is not conditional on the completion of the Retail Offer.

The Issue Price represents a discount of approximately 33.3 per cent. to the closing mid-market price of 0.18 pence of an Ordinary Share on 5 December 2024, being the latest practicable date prior to the publication of this announcement.

It is anticipated that an application will be made to London Stock Exchange plc ("London Stock Exchange") for the Placing Shares and the Retail Offer Shares (once the final number of Retail Offer Shares to be issued is determined) to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). It is currently anticipated that Admission will become effective, and that dealings in the Placing Shares and Retail Offer Shares will commence on AIM, at 8.00 a.m. on or around 16 December 2024.

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

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 million tonnes @ 7.26 % Zn, 1.75 % Pb and 39.5 g/t Ag, for 1.09 million tonnes of zinc, 260,000 tonnes of lead and 19.1 million ounces of silver.

The Plateau deposit in Queensland has a JORC Inferred resource of 131,300 ounces of gold and 800,000 ounces of silver. Plateau is subject to a joint venture with ASX-listed Sunshine Metals Ltd (ASX:SHN).

The Copperhead porphyry deposit in Queensland has a JORC resource of 80,000 tonnes of copper, 9,400 tonnes of molybdenum and 1.1 million ounces of silver.