GreenRoc Mining PLC (GROC.L) Amitsoq Graphite Project Update

Confirmation of High-Grade Graphite Drill Intercepts

GreenRoc Mining plc (AIM: GROC) is pleased to announce the full suite of assay results from its drilling and channel sampling programme undertaken at the Amitsoq Island deposit from June to August 2021. These results confirm the high-grade nature of the Amitsoq Island deposit as well as showing the graphite layers to be both thicker, and more consistent, than previously thought.

Key Points

· High-grade graphite mineralisation confirmed and increasing true widths observed down dip on both the upper and lower graphite layers, supporting the potential for a sizeable JORC Resource

· Lower Graphite Layer (LGL) returns drill intercepts grading up to 23.01% C(g) and channel samples grading up to 30.35% C(g)

· Upper Graphite Layer (UGL) returns drill intercepts grading up to 19.83% C(g) and channel samples grading up to 27.40% C(g)

· Significant true width thickness of graphite layers confirmed by drilling, including:

o LGL: 15.60 m @ 22.34% C(g) from 93.61 m

o LGL: 14.95 m @ 22.82% C(g) from 102.19 m

· Deposit open along strike (predominantly to the north) and down dip, which will be tested in Phase 2 drilling programme

· Significant down-dip extensions and increase in thickness from surface outcrop

· Strike length of LGL intersected from Pads B and E totals 154 m

· Low-grade uranium content poses no problems for future development under new Greenlandic legislation

· Drilling campaign confirms Amitsoq to be one of the highest-grade graphite deposits globally

· These results will be a key element in the mineral resource estimation assessment to be made by the Competent Person in due course.

GreenRoc’s CEO, Kirk Adams, commented:

“These results from the 2021 drilling campaign confirm the Amitsoq Island deposit as one of the highest-grade graphite deposits in the world.

“In addition, the consistency of grades, combined with the increasing true widths observed down dip at both graphite layers, represents particularly encouraging news and bodes well for the resource potential at the Amitsoq Island deposit.

“In the lower graphite layer, the drill core assays are grading up to 23.01% contained graphite, with an average of 22.56%. Furthermore, the drilling has shown that the true width of this layer below the old open pit mine widens with depth, increasing from 13.2 m to 14.95 m at around 100 m down dip from surface.

“The upper graphite layer also shows similar consistency, with drill core assays of up to 19.83%, and an average of 18.91%, contained graphite. This upper mineralised zone also shows increasing true widths with depth.

“This update gives us confidence for the step-out drilling programme which we have planned for 2022 and we are positive about the prospects for the ultimate resumption of mining at the Amitsoq Island deposit.”

Details

GreenRoc has received the drill core and channel sample assays from the phase 1 drilling programme on the Amitsoq Island graphite deposit that took place between June and August 2021. Drilling was conducted at four drill pads along the island’s ridge to test the down-dip continuation of the Upper Graphite Layer (UGL) and the Lower Graphite Layer (LGL), which outcrop along the eastern face of the island. The assay results are set out in Tables 1 and 2.

Table 1 . Drill Core Mineralised Intercepts. True thickness calculated using 30° true dip of the graphite layers.

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For further information, please contact:

GreenRoc Mining Plc

Kirk Adams, CEO

+44 20 3950 0724

GreenRoc’s Mining Assets

GreenRoc Mining Plc is an AIM-quoted company which is developing mining projects in Greenland in critical, high-demand and high-value minerals.

Led by a group of highly experienced mining industry professionals, GreenRoc has a portfolio of 100% owned projects: Amitsoq Graphite, Thule Black Sands Ilmenite, Melville Bay Iron and Inglefield Multi-Element.


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