FireFly Metals Ltd. — AGM Information 2014

Nov 18, 2014

Monax Mining Limited AGM Presentation 19 November, 2014

Gary Ferris Managing Director

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.

Competent Person Statement

The information in this presentation that relates to Exploration Results 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 2012 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 his report in the form and context in which it appears.

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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Profile

Vision: To move from explorer to producer via organic growth of current and acquired Cu-Au, Ni-Cu and Pb-Zn projects within South Australia.

Strategy: To concentrate on the identification of world-class exploration assets of IOCG, magmatic nickel-copper and leadzinc projects, thereby attracting developmental funding through JVs with major commodity houses.

Capital Structure

Capital Structure
Ordinary Shares on Issue	214,072,318
Listed Options	21,407,394
Share price (as at 17/11/14)	$0.014
Market Capitalisation	$3.0M
Cash (as at 30/09/2014)	$2.4M
Enterprise Value	$0.6M

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Antofagasta
7.99%
Other
Shareholders
85.9%
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Key Projects

Punt Hill Project

(Monax 49%; Antofagasta 51%) 2014 drilling program completed. Fully funded by Antofagasta. Drilling recently completed.

Millers Creek Designated Project

IOCG target outlined by detailed gravity and magnetic surveys.

Fully funded by Antofagasta. Drilling planned for March 2015.

Musgrave Designated Project

Airborne electromagnetic survey (AEM) planned for early 2015.

If AEM survey approved by Technical Committee will be fully funded by Antofagasta.

Parndana Project (100% Monax)

Geophysical and drilling program completed. Follow-up soil sampling program recently completed, results pending.

Western Gawler Craton Project

(100% Monax)

Farm-In Agreement signed with Western Areas Ltd. Aeromagnetic survey to commence soon.

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• Located within Olympic Iron-Oxide CopperGold (“IOCG”) Province in South Australia.

• Province hosts major copper deposits at Olympic Dam, Prominent Hill, Carrapateena and Hillside.

• Project funding via Farm-In Agreement with a wholly owned subsidiary of Chilean major, Antofagasta plc (“Antofagasta”).

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Punt Hill Project – 2014 Drilling Completed

• Two holes totalling 2045m completed at Punt Hill.

• Samples have been submitted for laboratory analysis.

• Results expected mid-December.

• Monax and Antofagasta to review 2014 results prior to decision on further drilling.

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• Geophysical and drilling program completed.

• Soil sampling program completed – results pending.

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Parndana
Project
Base Metals
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• Gradient array induced polarisation survey completed.

• • Results show significant chargeable and resistive anomalies.

• • Not tested by recent drilling.

• Detailed soil sampling program recently completed to assist with locating drill holes.

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Millers Creek Designated Project

• New project focused on underexplored area between Olympic Dam and Prominent Hill in northern South Australia.

• Detailed gravity and heli-borne magnetic surveys outlined potential IOCG target at Oliffes Dam (part of Devils Point target area).

• Heritage survey completed; area cleared for drilling.

• Monax finalising access/farm-in agreement and plan to commence drilling in March 2015.

• Exploration fully funded by Antofagasta.

Background RTP Magnetic Image, further processed with a high pass filter, highlighting shorter wavelength features. 2013 WPA survey merged with open file gravity data with old pre 1970 data deleted. 5gu/0.5 Mgal contours.

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Musgrave Designated Project

• New Designated Project focused on discovery of copper-nickel within Giles Complex.

• AEM survey planned to commence in early 2015 subject to approval by Technical Committee.

• Fully funded by Antofagasta.

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Western Gawler Craton Project

• Highly prospective 2046km[2] tenement holding in the Fowler Domain ~150km west of Ceduna on SA’s West Coast.

• Ni-Cu mineralisation target (eg. Thompson Ni-Belt).

• Comparable tectonic setting to Albany Fraser Belt in Western Australia which hosts the NovaBollinger Ni-Cu Deposit.

• Potential for other styles of mineralisation (i.e. shear hosted gold deposit similar to Tropicana).

• Area significantly unexplored.

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Background: Total magnetic intensity image

Farm-In Agreement – Western Areas Ltd

• Monax signed a Farm-In Agreement with Western Areas Ltd (ASX:WSA).

• WSA to spend $800,000 over 2.5 years to earn 75%.

• WSA to spend a further $400,000 over an additional 1.5 years to reach 90%.

• Detailed high-resolution airborne magnetic survey to commence mid to late November.

• Survey will take approximately 5 weeks to complete.

• New magnetic data will provide a great insight on the basement lithology and structure and outline areas for subsequent drill testing

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Kimberlite Project

• Exciting new discovery.

• Potential kimberlite discovered.

• Previous company exploration within the region reports diamonds and indicator minerals, but no kimberlites discovered.

• Detailed ground magnetic and ground gravity surveys confirm shallow target, interpreted to represent a kimberlite.

• Monax has increased its landholding to cover other interpreted targets from regional magnetic data.

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Reduced to Pole magnetic image with 10 nanoteslas contours

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Magnetic model showing size and modelled depth to potential main kimberlite body

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Melton Project

• Joint Venture with Marmota Energy (Monax 25%; Marmota 75%).

• Located on Yorke Peninsula.

• Recent encouraging copper drilling results from surrounding tenements.

• New target area defined “Melton Central”.

• Ground magnetic survey planned for late 2014 after harvest.

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(Note: EL 4648 not part of Melton Project)

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Summary

• Monax well positioned to maintain exploration programs into 2015 with external funding:

• Drilling planned at Millers Creek in March 2015 (fully funded by Antofagasta).

• AEM survey planned in early 2015 at Musgrave Designated Project (fully funded by Antofagasta).

• Possible further drilling at Punt Hill (fully funded by Antofagasta).

• Aeromagnetic survey and possible follow-up drilling on the Western Gawler Craton Project (fully funded by Western Areas Ltd).

• Monax’s funds will be utilised on low-cost exploration on new Kimberlite Project, Parndana Project and Melton Project.

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