FireFly Metals Ltd. — Capital/Financing Update 2009

Oct 8, 2009

Exploration Office Warehouse I, 5 Butler Blvd Burbridge Business Park Adelaide Airport SA 5950 Postal Address PO Box 247 Export Park SA 5950

ABN: 96 110 336 733

Tel: +61 8 8375 3900 Fax: +61 8 8375 3999 www.monaxmining.com.au

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For Immediate Release Friday, 9 October 2009

ASX RELEASE

Allotment of Share Purchase Plan Shares

Monax Mining Limited (ASX: MOX) ( Monax ) is pleased to announce that the Company has allotted 24.35 million shares to shareholders pursuant to its Share Purchase Plan (SPP) to raise a total of $1.8 million.

Due to the exceptional demand from shareholders for the SPP, a pro-rata scale back of applications was conducted. Applications received by mail postmarked 30 September 2009 or earlier, or moneys received by BPay up to midnight on 30 September 2009 were accepted and scaled back on this pro-rata basis. Application monies will be refunded promptly for those portions of applications for which shares were not allotted.

Funds raised under the oversubscribed SPP together with the recently completed Placement to sophisticated investors will be used to progress exploration at Punt Hill and Kangaroo Island as well as providing capital to retain Monax’s interest in the Melton Project joint venture.

Monax would like to thank all shareholders who participated in the SPP for their continued support and look forward to achieving positive exploration results over the coming year.

Gary Ferris Managing Director Monax Mining Limited

For further information please contact:

Gary Ferris Managing Director, Duncan Gordon Monax Mining Investor Relations Ph: (08) 8375 3900 Ph: 0404 006 444 Email: info@monaxmining.com.au

The information in this report 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