• Successful A$10 million equity placement to fund early works
• Formal Groundbreaking event planned for 9 October 2025
• Early Works to include resettlement, plant site earthworks, and high voltage powerline

Black Rock Mining Ltd is pleased to announce that it is commencing an early works program at its Mahenge Graphite Project in Tanzania, following a successful A$10 million equity placement. The early works program will include the completion of resettlement activities, commencement of plant site earthworks, and advancement of the high voltage powerline from Ifakara to Mahenge. A formal Groundbreaking event is planned for 9 October 2025, with members of the Black Rock Board in attendance. The company has received A$4.5 million in funds under the first tranche of the placement, with the second tranche remaining subject to shareholder approval. Completion of the early works program will pave the way for a rapid ramp-up of construction activity once Black Rock secures full project financing and makes a Final Investment Decision. The company has achieved several significant milestones in recent years, including formalizing offtake agreements, appointing a Tanzanian mining contractor, securing equity support from POSCO International, resolving tax issues, increasing debt facilities, and completing power supply agreements. Black Rock is now construction-ready, subject to securing the balance of funding required for the Mahenge Graphite Project.

Black Rock is now construction-ready for the Mahenge Graphite Project, subject to securing the balance of funding required. The company is focused on completing the next stage of its financing journey and moving to a Final Investment Decision.