FIREBIRD METALS LIMITED — Capital/Financing Update 2021

Mar 31, 2021

==> picture [184 x 60] intentionally omitted <==

COMPLETION OF UNMARKETABLE PARCELS SALES PROCESS

ASX RELEASE

1st April 2021

ASX: FRB

CORPORATE DIRECTORY

Non-Executive Chairman Evan Cranston

Firebird Metals Limited ( ASX:FRB , “FRB” or “the Company”) advises that the Company will shortly commence the processing of sales proceeds payments to those Firefly Resources Ltd (ASX:FFR) shareholders who were ineligible to participate in the in-specie distribution of FRB shares upon the Company’s listing.

Managing Director Peter Allen

Executive Director/CFO Wei Li

Non-Executive Director Ashley Pattison

Company Secretary Alex Neuling

As previously advised, the Company will bear all the costs of sale for the process. Sale proceeds of $352,682.93 will be disbursed to ineligible FFR shareholders based on the information held by the Company’s share registry, Automic. Ineligible FFR shareholders are encouraged to contact Automic to ensure their bank and contact details are up to date.

PROJECTS

Oakover

Hill 616 Disraeli

CONTACT DETAILS

Firebird Metals Ltd ACN 610 035 535 Suite 20 513 Hay Street Subiaco WA 6008 Phone: +61 8 6245 9818 Email: admin@firebirdmetals.com.au

CAPITAL STRUCTURE

Ordinary shares: 54,575,000 Options: 8,000,000 Performance shares: 3,300,000

Under the terms of appointment of the mandated advisors for the share sale process, the parcels of shares held by ineligible FFR shareholders (“Ineligible Parcels”) were able to be sold either:

• (a) In conjunction with the IPO, in which case the sale price was to be $0.20; or

• (b) As soon as practicable after Firebird’s listing either on or off market and at such prices and on such other terms as were determined by the advisors at their absolute discretion, with any off-market sales being subject to a minimum price of $0.20 and on-market sales not being subject to a minimum and being at the risk of the ineligible holder.

Page 2 of 2

In this case the sales process was conducted in conjunction with the IPO by way of special crossing on the day of listing at the IPO capital-raising price ($0.20 per Share). FRB, in conjunction with its mandated advisors, secured demand and commitments to sell the Ineligible Parcels approximately one week prior to FRB’s listing date, having formed the view that it would be prudent to eliminate market risk for the shares sold. The special crossing was initially submitted for execution at the commencement of trade on listing and was processed later the same day upon satisfaction of internal compliance requirements of the execution and clearing services provider.

-ENDS-

Authorised for release by Alex Neuling, Company Secretary

For further enquiries please contact:

FIREBIRD METALS LTD SHARE REGISTRY ENQUIRIES Mr Peter Allen Automic Group Managing Director Investor Services 1300 288 664 Ph +61 8 6245 9818 hello@automic.com.au

==> picture [184 x 60] intentionally omitted <==

Suite 20, 513 Hay Street, Subiaco WA 6008 www.firebirdmetals.com.au