FireFly Metals Ltd. — AGM Information 2012

Nov 13, 2012

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AGM Presentation 14 November 2012 Gary Ferris Managing Director

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Disclaimer

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Forward Looking Statements

'The following presentation includes forward looking statements . Forward looking statements inherently involve subjective judgement and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside of the control of, and may be unknown to, the Company. Actual results and developments may vary materially from those expressed in these materials. The types of uncertainties which are relevant to the Company may include, but are not limited to , commodity prices , political uncertainty , changes to the regulatory framework which applies to the business of the Company and general economic conditions. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements.

Forward looking statements in these materials speak only at the date of issue . Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or any change in events, conditions or circumstances on which any such statement is based.'

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Competent Person Statement

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr G M Ferris, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Ferris is employed full time by the Company as Managing Director and , has a minimum of five years relevant experience in the style of mineralisation and type of deposit under consideration; and qualifies as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Ferris consents to the inclusion of the information in this report in the form and context in which it appears.

Corporate Snapshot

Directors/Executives Bob Kennedy Non-Executive Chairman Gary Ferris Managing Director Glenn Davis Non-Executive Director Virginia Suttell Company Secretary

Profile

Head Office: Unit i, 5 Butler Blvd, Burbridge Business Park, SA 5950

Vision: To become a mining company via discovery and partnerships with major exploration, resources development, investment and mining companies.

Strategy: To make a world-class discovery at its flagship Punt Hill copper-gold project in SA, and identify and secure high quality asset positions that are either stand-alone 'company makers' or will be attractive to majors.

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Cash : As at 30 September 2012, $2.9 million

Share Details
Total shares on Issue	149,514,803
Market Caitalisation	$81 million
p	.
Share price at 12/11/12	5.4 cents
Top Twenty	34.7%

Projects & Investment Highlights

Punt Hill Copper-Gold Project

• Antofagasta approved ~US$2.3 million budget for 2012

• Major drilling commenced August 2012

• $60,000 PACE Grant

• 75m @ 0.2% Cu in hole MMDD1

Monax | Antofagasta Strategic Alliance

• Monax 'Alliance' has 13 current tenement applications

• Four 'Ke y Pro j ect' areas Marla | Algebuckina | WGC | Kangaroo Island

• First Designated Project approved

Waddikee Project

• Maiden graphite drilling program completed

• High-grade coarse flake graphite reported

• Beneficiation testing underway on Wilclo Sth samples

• Prospective for Manganese, Iron, Silver-Lead-Zinc

Phar Lap IOCG Project

• Prominent Hill/Carrapateena IOCG style target

• Western margin of Mt Woods Inlier – hosts Prominent Hill

• Drilling planned

Yorke Peninsula IOCG project

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• Anomalous copper and gold reported from calcrete sampling at Melton

Punt Hill Copper‐Gold Project

Flagship Project

• Located within Olympic Iron-Oxide Copper-Gold Province

• Province hosts major copper deposits and mines at Olympic Dam and Prominent Hill and significant new discoveries at Carrapateena and Hillside

• OZ Minerals purchased Carrapateena ($250 million) and have applied for exploration decline

• At P un t Hill , arge zone o m nera l f i li sa ti on an d a lt era ti on defined

• Best intersection – Hole GHDD6

• 159m @ 0.47% Cu, 0.12 g/t Au, 5.3 g/t Ag, 0.48% Zn & 0.12% Pb (from 846m)

• i nc u l di ng 17m @ 1 1% C. u, .0 27 g/t Au, .8 5 g/t Ag & 1.2% Zn from 853m

• Recent drilling reported 75m @ 0.2% Cu from hole MMDD1

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Note: all intersections reported are downhole lengths, but due to flat lying nature of sediments are interpreted to represent true widths

Punt Hill – Farm‐In Agreement

Farm-In Agreement – Antofagasta plc, hileC

• Monax announced major Farm-In Agreement with Antofagasta plc in September 2010

• Antofagasta spending US$4 million on exploration to earn 51% interest in Punt Hill

• Antofagasta have the option to spend a further US$5 million on exploration to earn an additional 19% interest in the project (70% interest)

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• Minimum expenditure of US$1.5 million over first 2 years - achieved

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• Maiden drilling program completed in 2011

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• Antofagasta have agreed to spend ~US$2.3 million on 2012 exploration program

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• Drilling commenced in mid August 2012

• Five holes completed to date

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Punt Hill – Monax Drilling Results – pre 2012

Prairie Dog Prospect

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• PDDD2 99m @ 0.24% Cu 876-975m

Groundhog Prospect

• GHDD1 126m @ 0.4% Cu 837-963m (including 14m @ 0 . 7% Cu & 14m @ 1% Cu)

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• GHDD2 162m @ 0.34% Cu 888-1050m (including 28m @ 0.7% Cu)

• GHDD3 76m @ 0 . 22% Cu 826 - 902m

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• GHDD3 76m @ 0 . - 902m
•
GHDD4 122m @ 0.47% Cu, 0.1g/t Au,
large
6.6g/t Ag, 0.38% Zn 840-962m
area of skarn
(including 15m @ 0.96% Cu)
a lt era ti on an d
•
copper GHDD6 159m @ 0.47% Cu, 0.12g/t Au,
mineralisation 5.3g/t Ag, 0.48% Zn 846-1005m
(including 17m @ 1.1% Cu)
Woodchuck Prospect
•
WDDD1 70m @ 0.41% Cu 683-753m
(including 28m @ 0.82% Cu, 10g/t Ag)
Whistlepig Prospect
•
WPDD1 60m @ 0.13% Cu 788-848m
Note: all intersections reported are downhole
lengths, but due to flat lying nature of sediments
GHDD1 WDDD1 PDDD2 interpreted to represent true widths
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Punt Hill – 2012 Drilling Program

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• Five holes completed

• Hole MMDD1 reported 75m @ 0.2% Cu from 990m

• Basement rocks in MMDD1 highly altered – similar skarn style alteration as seen at Groundhog

• Currently drilling Site 9

• Last hole for 2012 program is Camel Dam

• Monax received $60,000 -

• PACE funding for follow up hole at Camel Dam

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Note: all intersections reported are downhole lengths, but due to flat lying nature of sediments interpreted to represent true widths

Monax|Antofagasta Strategic Alliance

Monax | Antofagasta Strategic Alliance

• Monax signed a strategic Alliance with major Chilean copper producer Antofagasta plc for project generation within South Australia in August 2011

• Antofagasta committing US$1 million over 2 years for project generation within South Australia

• Antofagasta to fund 'Designated Projects' – US$4 million over 3 years to earn 70% interest in project

• Monax 'Alliance' has 13 current tenement applications

• Four 'Key Project' areas Marla | Algebuckina | WGC | Kangaroo Island

• Marla and Algebuckina looking for potential extension of Olympic IOCG province

• WGC project looking for 'Thompson Nickel Belt' style NiCu deposits

• Kangaroo Island located on the southern margin of the Gawler Craton – major structures present – looking for Hillside style copper mineralisation

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Designated Project Phase

Joint Venture Phase Monax retains right to fund 30% of expenditure or dilute

Alliance Phase

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Funded 100% by AMSA
Funded 100% by AMSA under of expenditure or dilute
US$4 million over 3 years
Strategic Alliance for 2 years
@ US$500,000/year
MOX
30%
Alliance
AMSA MOX
AMSA
51% 49%
70%
Projects
Withdraw
Monax interest or
Becomes
Alliance MOX Project 80% equityIn project 20 24 interest in the equityAt this stage MOX has a 30%
jointly earned in any project
56
3 [rd] Party MOX & AMSA 03 [rd] Party 100% % 70% equityIn project
21
30
Projects
49
100% equity
In project
Monax
30
70 Different
potential
Antofagasta
scenarios
Shown above
Third Party
At US$4 million
Expenditure by AMSA –
MOX receives US$3 million
per project
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Algebuckina Project (Designated Project)

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•

Located within Peak and Denison Block

Proterozoic block – s m i il ar geo og ca l i l hi story to Cloncurry area (N QLD)

Two gravity targets identified at Ruby Hill and Eitzen Bore

Commence exploration once all 3 tenements granted

• Initial exploration to comprise detailed gravity surveys over wo arge s t t t

Drilling planned for April - June 2013 (based on results from gravity survey)

Western Gawler Craton (WGC) Project (Alliance)

• Located approximately 950km northwest of Adelaide

• Five tenements covering an area of 2

• 4716k m

• Target Ni-Cu (Thompson Ni-Belt style)

• Has similar tectonic setting to Albany Fraser Belt in Western Australia

• R emo e oca t l ti on – A ccess goo d

• Area relatively unexplored

• Potential for other styles of mineralisation

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TMI data shows lithological & structural complexity with major crusta sca e sl l hear zones

Kangaroo Island Project (Alliance)

• Southern extension of the IOCG Belt

• DMITRE drill hole intersected Gawler Craton basement at 313m

• Two interpreted basement magnetic features north of major crustal structure

• Alliance to undertake gravity survey over two areas

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Waddikee Project (100% Monax)

Summary

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• Located on central Eyre Peninsula

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• Emerging graphite and iron ore province

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• Large land holding ( ~1000km[2] )

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• Prospective for graphite, man g anese and iron

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• Close to infrastructure

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• Good landholder relations

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Waddikee – Graphite Prospects

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Surface Samples

• Coarse flake graphite

Drilling rogramP

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• Completed

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Background – AEM (red = high conductivity = graphite targets)

Waddikee – Graphite Drilling Program

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Background – AEM (red = high conductivity = graphite targets)

Waddikee – Drilling Program

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Wilclo South Prospect

• Prominent surface outcrop (only discovered during drilling program)

• Surface sample – high-grade, coarse fl a k hit 22 . 9% t o a t l e grap e assay = (

• graphitic carbon –TGC)

• Drilling showed high grade graphite occurs to at least 100m below surface

• Good intersection reported in two holes

• Samples from surface and selected drill hole samples submitted for beneficiation testing

Note: downhole lengths reported, true widths unknown

Waddikee – Maiden Graphite Drilling Program

Wilclo South Prospect

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• Beneficiation results due soon

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• Petrology from outcrop and drill holes shows coarse flake graphite up to 2mm in length with and average size >0.5mm.

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Beneficiation testing Wilclo South outcrop sample

Waddikee – Drilling Program

Lacroma Prospect

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• No surface graphite

• Previous drilling by WMC reported 70m of graphite

• Monax re-drilled WMC hole and intersected 60 m @ 6 . 8% T GC

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• Need to chase this intersection closer to sur ace – con f d uc ti v it y shows layer dips to east.

• Significant conductivity feature located further east – UNTESTED.

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Note: downhole lengths reported, true widths unknown

Waddikee – Graphite Summary

Planned Exploration

• Assess beneficiation results

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• Fi e ld mapp ng an i d samp li ng - ongoing

• Ground electromagnetic (EM) survey at Wilclo South to assist with planned drilling program

• Assess EM data

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• RC drilling – based on EM data

• Drilling at Argent prospect

• Further drilling at Lacroma prospect

• D r illi ng a new prospec t t “F ranc s i W es t” w h ere historical EM data and AEM data shows significant conductive feature

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Phar Lap IOCG Project

( Monax 100% of all minerals excludin g uranium )

Genuine Target – PLDD002

• Western margin of Mt Woods Inlier

• Prominent Hill ' setting' | Carrapateena ' size'

• Geophysical anomaly similar to Carrapateena

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• Land access initiated (WPA, Native Title)

• Drilling planned

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Yorke Peninsula IOCG Project

Highlights

• Interest in 2 subprojects:

• Melton (50:50 JV with Marmota)

• Webling Bay (100% Monax)

• Significant recent discoveries:

• Rex Minerals – Hillside

• Adelaide Resources – Paskeville

• Encouraging drilling results at Melton: - 9m @ 1% Cu from hole MRDD008

• M armo a recen t tl y repor e t d anoma ous l copper and gold in calcrete results for Melton

• Si gn ifi can resu t lt s rom s or c r f hi t i d illi ng along boundary of Webling Bay tenement:

• Hole KD11

  • 5 . 3m @ 1 . 66% C u ( 97-102.3m ) and 2.3m @ 1.06% Cu (108.3 – 110.6m)

• Hole KD16

  • 3.5m @ 1.18% Cu (169.5 – 173m)

• Hole KD04

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• 10m @ 0.37% Cu (224 - 234m)

Note: all intersections reported are downhole lengths; true widths unknown.

Summary & Conclusions

• Monax Mining – S outh Australian ocus f

• Two major projects fully funded by Antofagasta plc -

• 1 . Punt Hill Copper Gold

• Monax | Antofagasta Strategic Alliance

• Punt Hill – second drilling program nearing completion – f urt h er 7 h o es to e comp ete l b l d i n 2012

• Monax | Antofagasta Strategic Alliance – First Designated Project approved and two further areas undergoing early exploration funded under the Alliance

• Waddikee Project Maiden graphite drilling program comp e e l t d w ith hi g h -gra d e coarse a fl k e grap hit e repor e t d from Wilclo South. Samples submitted for beneficiation testing – awaiting results

• Phar Lap Project – Two significant geophysical targets defined with land access commenced. Drilling planned for 2013

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• Yorke Peninsula Project – Promising copper and gold in calcrete results reported for Melton sub-project.

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Thank You

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Gary Ferris Managing Director P ( 08) 8375 3900 M 0423 259 488 E: gferris@monaxmining.com.au

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