Rockfire Resources Regulatory News (ROCK)

12 June 2020

Rockfire Resources plc

("Rockfire" or the "Company")

Result of AGM

Grant of Options

Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to announce that at its annual general meeting ("AGM") held earlier today, all resolutions were duly passed. The poll results were as follows:

*Votes "For" include votes giving the Chairman discretion.

** A 'Vote Withheld' is not a vote in law and has not been counted in the calculation of the proportion of the votes 'For' and 'Against' a resolution.

Grant of Options 

Following the approval of shareholders at today's AGM and further to the announcement on 21 May 2020, the Company has now granted 6,000,000 options to subscribe for new ordinary shares (the "NED Options") to each of Nicholas Walley, Patrick Elliott and Ian Staunton. Following these grants, the Company has a total of 24,000,000 options to subscribe for new ordinary shares outstanding, which represents 3.8 per cent. of the Company's issued share capital as at the date of this announcement.

The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.

Questions from the AGM 

The following questions were submitted to the Chairman of the Company, to be answered at the AGM. The response to each of the questions is provided below.

How many infill holes do you expect to drill in the next drilling round?

We have announced our resumption of drilling at Plateau, comprising 6 holes for approximately 1,000 m. There is likely to be a second phase, however the specific depths and number of holes will be dependent on the results of our current drill programme.

How many deep holes do you expect to drill in the next drilling round?

A second phase involving deeper drilling is anticipated however the location, depth and exact number of holes is highly dependent on the results of the current programme. Our exploration programmes are results-driven, however we expect that at least 2 or 3 holes would be required to gain a reasonable level of geological understanding at deeper levels. 

What's the maximum depth of the rig that you intend to use for the deeper drills?

Testing at depth must involve sequentially deeper holes. Stepping out too rapidly and drilling very deep holes is fraught with risk. To minimise our exploration risk and to ensure the Company's exploration funds are maximised, we intend to steadily increase our depth knowledge, rather than risk stepping deeper too quickly. The rigs we use are capable of drilling to well beyond one kilometre deep.

When do you expect to update the JORC next? 

We have informed the market that we hope to have an updated JORC estimated before the end of the calendar year. Of course, this will depend on the rate of drilling, funding and exploration success. At this point in time, we remain on track to deliver an updated resource prior to the end of the year.

When will my Rockfire shares make me a millionaire?

Rockfire is hoping to intersect a main gold lode at depth at Plateau. Exploration always carries risk but it would give me great pleasure to deliver such an outcome for you. We are, unfortunately, unable to promise such an outcome. However, we can assure you that everyone at Rockfire is doing their utmost to find another Mt Wright!

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

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.