BLACK ROCK MINING LIMITED — Capital/Financing Update 2007

Sep 3, 2007

Company Announcements Office Australian Stock Exchange

4 September 2007

Green Rock Energy acquires three Geothermal Exploration Licences in the Cooper Basin

Successfully raises $1.3m in private placement

Green Rock Energy Ltd (ASX: “GRK”), a leading geothermal energy company, has been granted three Geothermal Exploration Licences (GELs) as it expands its strong portfolio of geothermal energy projects.

The Licences (282, 283 and 284) cover 1,483 sq kms of land over the Patchawarra Trough in the Cooper Basin, South Australia (“Patchawarra Project”).

While the Olympic Dam Geothermal Energy Project is Green Rock Energy’s main focus in Australia, new projects are being added to the Company’s portfolio where they show the required potential for a commercial geothermal energy project.

The Patchawarra Project GELs are shown on the following map, together with Upper Spencer Gulf Project, where the Company holds Applications for Geothermal Exploration Licences, and the Olympic Dam Geothermal Energy Project.

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The Patchawarra Project area contains geological formations which are prospective for high flows of hot geothermal water. These are considered potentially suitable for generation of geothermal electrical energy by pumping the hot water from existing sedimentary aquifers using conventional pumps. The GELs are located in the Patchawarra Trough, a structure within the Cooper Basin containing thick aquifers. The prospective aquifers reach a thickness in excess of 1,200m in this location at depths in excess of 3,000m. These thick, deep aquifers have the potential to contain high temperature water flows suitable for conventional geothermal energy production.

Green Rock Energy also successfully raised $1.3 million to supplement working capital, through the private placement to professional investors of 12 million shares at 11c per share; the average price for the previous 10 days trading. Tolhurst Limited assisted the Company with the placement.

The Company is preparing for the mini hydro-fracture test at the wholly-owned Olympic Dam Geothermal Energy Project, as the next step in the evaluation of an engineered geothermal system (“EGS”) and associated pilot power plant at Olympic Dam in preparation for the construction of a series of EGS reservoirs to provide the heat energy to power a large base load power plant with a capacity in excess of 400 MW. The Project is located in South Australia within 10 kms of the Olympic Dam mine and only 5 kms from a 275 kV and a 132 kV power transmission line connected to the Eastern Australian power grid.

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Nigel Hodder Company Secretary

For more information contact:

Adrian Larking, Managing Director +61 (0) 8 9482 0401 alarking@greenrock.com.au

or

Alan Knights, Executive Director +61 (0) 8 9482 0405 aknights@greenrock.com.au