BLACK ROCK MINING LIMITED — Capital/Financing Update 2008

Mar 18, 2008

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Company Announcements Office Australian Securities Exchange

By e-lodgement 19 March 2008

GREEN ROCK ENERGY LIMITED OPTIONS EXPIRE 18 APRIL 2008

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Green Rock Energy Limited (GRK) announce that its 40,194,308 options (ASX Code: GRKOA) will expire at 5.00pm WST on Friday 18 April 2008.

All option holders will be mailed on 18 March 2008. This mailing will consist of an explanatory letter and a personalised Option Expiry Notice (see samples below). These two documents provide all the information necessary for the exercise of the options.

The last day of official quotation of GRKOA options on the Australian Securities Exchange will be 11 April 2008.

Any option holder who has any enquiry concerning their option holding should please contact Computershare Investor Services on 1300 557 010.

Nigel Hodder Company Secretary

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Expiry of 18 April 2008 Options 17 March 2008

ASX Code: GRK, GRKOA

IMPORTANT NOTICE – EXPIRY OF GRKOA OPTIONS

Dear Option Holder

The 18 April 2008 Options issued by the Company are due to expire at 5.00pm Western Standard Time on Friday 18 April 2008.

In accordance with the Terms and Conditions of the option issue and the ASX Listing Rules, the Company is required to give you notice at least 20 business days before the expiry date.

In accordance with the ASX Listing Rules the Company advises as follows:

1. The latest date of the exercise of the options and for payment of the exercise price is 18 April 2008;

2. The exercise price of the options is $0.10 per option;

3. The consequence of non-payment of the exercise price is that the options will lapse;

4. The latest available market sale price of the Company’s shares on the ASX prior to the date of this letter was $0.097 per share on 14 March 2008;

5. The highest and lowest market price of the underlying securities during the three months prior to 14 March 2008 are as set out below:

• i.) Highest : $0.12 per share on 14 December 2007

• ii) Lowest : $0.071 per share on 10 March 2008

1. The last date of quotation of GRKOA options on the Australian Securities

Exchange will be 11 April 2008.

Enclosed is an “Option Expiry Notice”.

To convert your GRKOA options into GRK shares, complete the attached “ Option Expiry Notice” form in full, sign it and send to the Company’s share registry with the appropriate amount by cheque made payable to Green Rock Energy Limited and crossed “Not Negotiable”.

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The Company’s share registry postal address is:

Computershare Investor Services Pty Limited, GPO Box D182, PERTH. WA 6840

and physical address is as follows:

Computershare Investor Services Pty Limited, Level 2, 45 St Georges Terrace, PERTH. WA 6000

If all the options are exercised the Company will receive approximately $4,200,000 which will be used as follows:

• Ongoing development of the Company’s geothermal project at Olympic Dam

• Further development of geothermal tenements in South Australia as apply to desalination projects

• Further development of geothermal projects in Hungary

• General working capital

The Company will be receiving data and results relating to the mini fracture stimulation recently performed at Blanche No 1 during the next month. These will be released to the ASX when available in accordance with listing requirements.

The attached Option Expiry Notice is an important document, please read it carefully. If you have any queries in relation to this document please contact your stockbroker or other professional adviser.

The Directors thank you for your continuing support.

Yours faithfully,

Green Rock Energy Limited

Nigel Hodder Company Secretary

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