BLACK ROCK MINING LIMITED — Capital/Financing Update 2012

Mar 19, 2012

ASX Announcement

Company Announcements Office Australian Securities Exchange

By e-lodgement

20 March 2012

(ASX Code GRK)

Placement by Cygnet Capital raises $2 million for Green Rock

Subsequent to Cygnet Capital receiving commitments for $500,000 through a first tranche Placement to sophisticated investors of 100 million GRK shares at 0.5c/share on 30 January 2012, a Shareholders’ Meeting was held on 8 March 2012 which approved the allotment and issue of up to 300 million GRK shares at an issue price of 0.5c/share.

Green Rock is now pleased to advise that Cygnet Capital has received commitments for $1,500,000 through a second tranche Placement to sophisticated investors of 300 million GRK shares at 0.5c/share.

All capital raised by Cygnet Capital will attract a 6% fee being $120k plus GST. On completion of the placement Green Rock will issue to Cygnet Capital or its nominees 40 million options exercisable at 1.2c/share before 31 January 2015.

The funds raised through this Placement will be used to progress the Company’s existing priority projects and other new hydrocarbon opportunities that could create value for Green Rock’s shareholders.

The existing priority projects are:

• The joint venture with New Standard Energy (NSE) for hydrocarbons in the Canning Basin in WA including the 15% interest in EP 417, the potential interest in the adjacent Seven Lakes SPA and other opportunities that may emerge under the Area of Mutual Interest with NSE

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• The alliance with Pacific Hydro for geothermal power generation in the Mid West of WA and the Great Artesian Basin in SA, and in particular the pursuit of Government and joint venture funding for the Mid West Geothermal Power Project

• The geothermal joint venture with MOL in Hungary

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Nigel Hodder Company Secretary

Investors and Media

• T: +61 (0) 9482 0482

• E: info@greenrock.com.au