BLACK ROCK MINING LIMITED — AGM Information 2010

Nov 15, 2010

ASX Announcement

Company Announcements Office Australian Securities Exchange

By e-lodgement

16 November 2010

(ASX Code GRK)

Annual General Meeting - Chairman’s Address

Attached is the Chairman’s Address to the 2010 Annual General Meeting of Green Rock held in Perth today.

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Nigel Hodder Company Secretary

Investors and Media

• T: +61 (0) 9482 0482

• E: info@greenrock.com.au

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Green Rock Energy Limited Chairman’s Address to Shareholders

In this past year your company has made good progress on a number of fronts in what has been a very challenging environment.

As Richard Beresford, your Managing Director, will shortly outline in more detail Green Rock Energy has realised a number of significant milestones in 2010.

Key amongst these are:

• 1. Securing $7Million Geothermal Development Project (GDP) grant for matching funding from the Federal government to progress the Direct Use Project at the University of WA.
• 1. Securing $5.4Million LEED grant for matching funding from the West Australian government to progress the University of WA Project
• 1. Raising a total of $4.3Million equity with the considerable support of a developing relationship with Cygnet Capital and the support of both existing and new shareholders via placements, Share Purchase Plan and a Rights Issue
• 1. A successful acquisition of new well data at our geothermal project in Hungary where we are in a 50:50 joint venture with the Hungarian state oil company MOL
• 1. Establishment of a substantial inferred geothermal heat resource in Green Rock’s North Perth Basin Project area.

These milestones have positioned the company very well to take our key projects to the next step thereby adding substantial shareholder value.

In addition to our own energies and capabilities what we (and other geothermal energy companies) require to enable us to succeed are federal and state government policy settings that are genuinely supportive of the industry. In this regard a price on carbon and the ability of direct heat projects that displace electricity to qualify for Renewable Energy Certificates are the key policy changes that the Australian Geothermal Energy Association is seeking from the Federal Government. We also support the establishment of a Renewable Energy Feed-in Tariff in Western Australia. We are confident that with such policy settings in place the geothermal energy sector will make a significant contribution in the future especially because of its base load power generation capability. We will continue to lobby for these changes both directly and through the Australian Geothermal Energy Association.

The Board is especially appreciative of the support of shareholders in these past several months at a time when capital raisings were required. These have taken place in an environment where the company’s share price was at historic lows and when the geothermal energy sector was out of favour with the investing community. It is the Board’s intention to repay this support with progress in a manner that sees much stronger support for the company from investors going forward.

On behalf of shareholders and other Board members I would also like to acknowledge the appointment of Richard Beresford as Managing Director in February this year. Richard has brought considerable energy and commercial experience to this role along with a passion for energy projects that are economically sound and which are also friendly to the environment.

Jeff Schneider Chairman