BLACK ROCK MINING LIMITED — Capital/Financing Update 2011

Jul 24, 2011

ASX Announcement

Company Announcements Office Australian Securities Exchange

By e-lodgement

25 July 2011

(ASX Code GRK)

Significant increase in Canning Basin hydrocarbon footprint

Highlights

• Green Rock’s EP 417 farm-in partner New Standard Energy awarded new Seven Lakes Special Prospecting Area (SPA) adjacent to EP417

• Under the terms of a binding agreement with NSE, Green Rock has the right to a 40% in any Exploration Permit taken up as a result of the SPA

• Seven Lakes SPA contains both the Laurel and Anderson formations and is prospective for similar unconventional gas resources to EP417

Green Rock Energy Limited is pleased to announce that farm-in partner New Standard Energy (NSE) has been awarded a Special Prospecting Authority (SPA) for the Seven Lakes area in the Canning Basin. Maps showing the location are attached. Upon grant, the SPA will entitle NSE to carry out certain exploration work, subject to various approvals, over a 6 month period. Following the initial 6 month exploration program, NSE will have an exclusive right for an additional 6 months to exercise an attaching option to apply for an Exploration Permit over the most prospective part of the acreage.

This SPA comes within the terms of a legally binding agreement between Green Rock and NSE under which it was agreed that both companies would work together to jointly acquire newly released acreage within an Area of Mutual Interest (AMI) in the Fitzroy Trough in the Canning Basin. Under the terms of the agreement Green Rock is entitled to a 40% interest in any new acreage awarded to either party within the AMI. Including the initial 6 month exploration program, Green Rock must contribute 40% of all expenditures incurred on any Exploration Permit subsequently granted to NSE from within the Seven Lakes SPA. The Seven Lakes SPA is considered by NSE and Green Rock to be prospective for both conventional and unconventional hydrocarbon resources. In particular the SPA contains the primary targets of the Laurel and Anderson formations. These formations are the same formations expected to be tested by NSE,

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Buru Energy and Green Rock through the deepening of the Lawford #1 well on EP417 during the next few months.

The Lawford #1 well will test the Anderson and Laurel formations in the larger Lawford structural target. The Lawford structure is very large and has the potential to host significant amounts of hydrocarbons in place. NSE estimates that the Lawford structure could host in excess of 500Bcf of gas in place as a conventional target. In addition, the assessment of the Laurel shales and tight sands contained within the Lawford structure (but that extend regionally beyond the structural closure at Lawford) will provide important information and upside for an unconventional play across the region.

Green Rock Managing Director Richard Beresford said “We are very pleased that the efforts of our partner NSE have already resulted in an opportunity to significantly increase our exposure to this exciting hydrocarbon play. The next few months will see further exploration activity in the Canning Basin, including the expected re-entry of the Lawford#1 well in EP417.”

Nigel Hodder Company Secretary

Investors and Media

• T: +61 (0) 9482 0482

E: info@greenrock.com.au

Map 1: The Laurel Project including the new Seven Lakes SPA, EP417 and various prospective targets

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Map 2: The large regional extent of the Laurel play and the current/planned exploration activity

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Maps courtesy of NSE