FireFly Metals Ltd. — Board/Management Information 2020

Sep 8, 2020

ASX: AUT 9 September 2020

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Renewal of Executive Contract

Auteco Minerals (ASX: AUT) is pleased to advise that the Company’s employment contract with Executive Chairman Ray Shorrocks has been renewed, with effect from 1 July 2020.

Under Mr Shorrocks’ leadership, Auteco has delivered 1,000,000-ounce Inferred Resource 0F[1] at 11.3 g/t gold from 2.8Mt at the Pickle Crow Gold Project, in Ontario, Canada (see ASX release dated 1 September 2020).

The Company is now undertaking an extensive 40,000m drilling program to further grow this Resource and expects to announce a resource update in the first half of 2021.

Refer to the terms of the executive contract in the attached Schedule 1.

For further information regarding Auteco Minerals Ltd, please visit the ASX platform (ASX: AUT) or the Company’s website https://www.autecominerals.com.au/

For and on behalf of the Board

Nicholas Katris

Company Secretary Auteco Minerals Ltd Phone: +61 8 9220 9030

Media:

Paul Armstrong

Read Corporate +61 8 9388 1474

About Auteco Minerals

Auteco Minerals Limited (ASX: AUT) is an emerging mineral exploration company currently focused on advancing high-grade gold resources at the Pickle Lake Gold Project in the world-class Uchi subprovince of Ontario, Canada. The Auteco Board of Directors and technical management team has a proven track record of discovering gold and creating wealth for shareholders and all stakeholders in recent years.

The Company also has a joint venture on the Limestone Well Vanadium-Titanium Project in Western Australia.

1 The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcement.

CONTACT DETAILS ACN: 110 336 733 T: +61 8 9220 9030 Principal and Registered Office E: info@autecominerals.com.au Level 3, Suite 3 W: www.autecominerals.com.au 24 Outram Street West Perth WA 6005

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SCHEDULE 1

Summary of Key Terms and Conditions of Engagement

Director	Ray Shorrocks
Position	Executive Chairman
Status	Employee
Short term incentives	Cash bonus subject to board discretion.
Incentive Securities	At board's discretion, subject to compliancewith the Listing Rules and the Corporation Act,including obtaining all necessary shareholderapprovals.
Termination notice period	Three months
Change of Control cash bonus payment	Six months' Base Salary
Base Salary	$275,000 pa
Superannuation	$26,125 pa

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