BLACK ROCK MINING LIMITED — Capital/Financing Update 2007

Oct 4, 2007

ASX Announcement

Company Announcements Office Australian Stock Exchange

By e-lodgement

5 October 2007

(ASX Code GRK)

Proposed Issue of Options to Directors

Pursuant to Listing Rule 3.10 Green Rock Energy Limited wishes to advise that, subject to shareholder approval at its next General Meeting, it proposes to issue a total of 2,050,000 ordinary share options to Directors as follows:

Mr Adrian Larking 1,000,000 options Mr Alan Knights 750,000 “ Mr Scott Spencer 300,000 “

This proposed issue of options is to give recognition to the value that will be derived from the Directors concerned, their contribution to the Company through its Board in addition to being a performance incentive for the future. It is proposed that the exercise price of the options be set at the average of the closing price on the ASX of the Company’s shares in the month preceding 26 November 2007.

The details of this proposed issue are as follows;

• Class of securities to be issued ---- ordinary share options

• Number of securities to be issued---- 2,050,000

• Exercise price --- set at the average of the closing prices of Company’s ordinary shares on the ASX in the month preceding 26 November 2007

• Vesting conditions ---- 50% of options vest on 26 November 2008 with the balance vesting on 26 November 2009.

• Options expire --- on 26 November 2011

• Consideration -------nil

• Purpose of issue ------- as a performance incentive and value recognition

• Shareholder approval ------- to be sought at next general meeting on 26 November 2007

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N Hodder Company Secretary

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