FireFly Metals Ltd. — Capital/Financing Update 2014

Jun 9, 2014

Exploration Office Unit 2 81 Harrison Road Dudley Park SA 5008

ABN: 96 110 336 733

Tel: +61 8 8245 4900 Fax: +61 8 8245 4999 www.monaxmining.com.au

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For Immediate Release Tuesday 10 June, 2014

ASX RELEASE

Phar Lap IOCG Project - MOU with Antofagasta

HIGHLIGHTS

• Monax signs Memorandum of Understanding (MOU) with Antofagasta for Phar Lap Project.

Monax Mining Limited (“Monax”) (ASX:MOX) is pleased to announce it has signed an MOU with a wholly-owned subsidiary of major Chilean copper producer Antofagasta plc (“Antofagasta”) for the Phar Lap Iron-Oxide Copper-Gold (IOCG) Project, located on the margin of the Mt Woods Inlier in northern South Australia (Figure 1).

Monax recently acquired a 100% interest in the Phar Lap tenement ( see ASX release “Phar Lap IOCG Project Update” 30[th] January 2012 ). In 2008, an extensive geophysical program was conducted over the project which included airborne magnetic, radiometric, electromagnetic and ground gravity data. A review of all data outlined two prominent IOCG-style anomalies (Figure 2).

Comparative 3D inversion modelling has demonstrated that key characteristics of the Phar Lap data (anomaly PLDD002) are very similar to those generated within available data over the Carrapateena deposit; in density volume product, density contrast, dimensions and depth.

Under the MOU, Antofagasta will fund early stage exploration including access approvals and a detailed infill gravity survey over the two anomalies. Antofagasta may then elect to proceed to a Farm-In Agreement to earn 70% interest in the tenement by funding exploration to a value of US$2 million within 3 years.

The Aboriginal Heritage clearance and gravity survey are planned for July-August 2014.

Gary Ferris Managing Director, Monax Mining Ph: (08) 8245 4900 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 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 this report in the form and context in which it appears.

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Figure 1. Location of Monax Projects including the Phar Lap Project .

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Figure 2. Phar Lap Project Bouguer Gravity (first vertical derivative) showing the two IOCG-style geophysical targets (This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported).

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