GreenRoc Mining plc announced a very substantial increase to the mineral resource estimate at the Amitsoq Graphite Project in southern Greenland, which has been confirmed as one of the highest-grade graphite deposits in the world. Highlights: The 2023 Mineral Resource Estimate comprises a total inferred, indicated and measured JORC Resource for the Amitsoq Island Deposit of 23.05 million tonnes (Mt) at an average grade of 20.41% Graphitic Carbon, giving a total graphite content of 4.71 Mt. The 2023 MRE: represents a Resource with almost three times the tonnage from the 2022 Maiden Resource Estimate, with the contained graphite increasing by 3.08 Mt from the 2022 MRE, an increase of ca.

180%; and o cements Amitsoq's position as one of the very highest-grade graphite deposits globally, with an average grade of 20.41% C(g) (up from 19.75% C(g)). The Amitsoq Island Deposit remains open along strike (predominantly to the north) and down dip to the west, indicating the potential for further significant Resource upgrades in the future. Every Resource category has increased substantially: The upgraded Resource now includes 1.26 Mt of Measured Resource, this being the confidence pre-Reserves category. The Indicated Resource has increased from 2.04 Mt to 6.12 Mt (a 200% increase over the 2022 MRE).

The Inferred Resource has increased from 6.24 Mt to 15.67 Mt (a c150% increase over the 2022 MRE). One third of the contained graphite in the 2023 MRE now falls within the higher Measured and Indicated categories, an important validation of the Project fundamentals as GreenRoc moves this year into the development phase and into further discussions with interested customers and offtake partners. The 2023 MRE incorporates the results of the extensive Phase 2 drilling programme at the Amitsoq Island Deposit which was completed in September 2022.

Details: The 2022 MRE, being the maiden JORC Resource at the Amitsoq Island Project, was declared in March 2022 based on 10 drill intersections drilled from three drill pads along the island's ridge during Phase 1 drilling. The 2023 MREincorporates successful Phase 2 drilling completed in September 2022, where mineable widths (more than 2.0m true thickness) of graphite were present in eight intersections of the UGL and in all 19 intersections of the LGL, with graphite grades ranging from 13.52 to 24.52 Cg%. The assay results from the Phase 2 drilling programme were reported by the Company on 22 December 2022.

The 2023 MRE for Amitsoq has delivered a Measured Mineral Resource of 1.26 Mt at 22.05 % C(g) for 0.28 Mt of contained graphite, Indicated Mineral Resource of 6.12 Mt at 21.04 % C(g) for 1.29 Mt of contained graphite, and an additional Inferred Mineral Resource of 15.67 Mt at 20.04 % C(g) for 3.14 Mt of contained graphite.