BLACK ROCK MINING LIMITED — Capital/Financing Update 2014

Jun 12, 2014

ASX Announcement

Company Announcements Office Australian Securities Exchange

By e-lodgement

13 June 2014

(ASX Code GRK)

Strategic Investment in Sunbird Energy Limited

Highlights

• Green Rock completes A$400,000 debt investment in Sunbird Energy Limited

• Exposure to South African energy market where limited domestic gas supply and growing energy needs have created significant development opportunity

• Supporting development of a 76% controlling interest in the Ibhubesi Gas Project, 540 BCF (2P) Proven Reserves, located offshore South Africa

Green Rock is pleased to announce that it has completed a A$400,000 strategic investment in southern African oil & gas developer, Sunbird Energy Limited (“ Sunbird ”) (ASX:SNY). The investment was completed as part of the A$5,000,000 secured loan facility (“ Loan Facility ”) announced by Sunbird on 26[th] of February 2014.

About Sunbird Energy Limited

Sunbird is an ASX-listed gas developer currently focussed on the ongoing exploration and development of its 76% interest in the Ibhubesi Gas Project located offshore of the west coast of South Africa. The Ibhubesi Gas Project is South Africa’s largest undeveloped gas field, with 1P reserves of 210 Bcf (Billion Cubic Feet) and 2P reserves of 540 Bcf. The Project is located 380km north of Cape Town in Block 2A, which is a Production Right that covers 5,000 km[2] . The Project is covered by 1,770 km[2] of 3D seismic and many thousands of kilometres of 2D seismic. Over US$125 million (R1.2 billion) has been spent on exploration and appraisal of the project since 2000. The South African national oil company, PetroSA, holds the remaining 24% working interest in the licence.

In December 2013, Sunbird announced that Africa’s largest electricity producer, Eskom, had signed an MoU with Sunbird for a joint investigation of indigenous gas sales from the Ibhubesi Gas Project to Eskom’s Ankerlig Power Station on the west coast of South Africa. A major program of activities focused on fasttracking the commercialisation of Ibhubesi is now underway.

Sunbird also maintains a portfolio of five (5) Coal Bed Methane (CBM) projects covering an extensive area (10,070 km[2] ) of prospective coal basins across in South Africa and Botswana. Sunbird is conducting a phased exploration program that will define the resource base and demonstrate the commercial potential of its portfolio of CBM assets.

For further information on Sunbird please visit www.sunbirdenergy.com.au.

Loan Facility

As announced on the 26[th] of February 2014, Sunbird executed an agreement with White Swan Nominees Pty Ltd (“White Swan”), for a secured loan facility of up to A$5,000,000. The Loan Facility will be utilised to advance the Ibhubesi Gas Project development and commercialisation activities with an immediate focus on completion of the Field Development Plan and negotiation of a binding Gas Sales Agreement with Eskom.

As part of this facility Green Rock has committed an investment of A$400,000 on the following key terms:

• The term of the Loan Facility is twelve (12) months fixed from the date of initial drawdown, being March 10th 2014;

• All drawdown funds will attract interest at a rate of 20% p.a. which will be calculated daily and capitalised;

• Subject to Sunbird shareholder approval, the lender has the right , to convert all, or part of the drawn down balance and any unpaid interest into ordinary shares in Sunbird at the lesser of A$0.25 per share, or the price of any capital raising completed by the company during the term;

• If unconverted, all drawdown funds and any accrued interest will be repaid by Sunbird on, or before the end of the term;

• The Loan Facility is fully secured against Sunbird’s ownership of Sunbird Energy (Ibhubesi) Pty Ltd which holds a 22.8% working interest in the Ibhubesi Gas Project; and

• Standard warranties and events of default will apply.

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Richard Beresford Executive Chairman

T: +61 (08) 9327 1766 E: rberesford@greenrock.com.au

About Green Rock Energy Limited

• A 100% interest in the Ocean Hill Block in the Perth basin, subject to the successful completion of Native Title negotiations.

• A joint venture with MOL in Hungary for geothermal power generation (GRK 35%)