FireFly Metals Ltd. — Capital/Financing Update 2014

Jun 1, 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 Monday 2 June, 2014

ASX RELEASE

Placement with Antofagasta

HIGHLIGHTS

• Antofagasta to become Monax’s largest shareholder via Placement of Shares.

• Funds will be used to progress exploration at Monax’s Kangaroo Island project in SA.

Monax Mining Ltd (ASX: MOX) today announced it is undertaking a $436,314 private placement with a wholly-owned subsidiary of major Chilean copper producer, Antofagasta plc (“Antofagasta”).

Antofagasta will become Monax’s largest shareholder via the placement of 17,110,346 shares at $0.0255 per share.

Monax will use the funds to progress exploration at the Parndana project on Kangaroo Island in South Australia, as well as for general working capital.

The placement will be issued pursuant to Monax’s 15% capacity under ASX Listing Rule 7.1.

Monax Mining Managing Director, Mr Gary Ferris, said: “We are delighted to have Antofagasta as our major shareholder”.

“Monax looks forward to commencing its upcoming drilling programs on the Punt Hill and Millers Creek projects under current exploration agreements with Antofagasta in the next three months,” he said.

“The placement funds provide capital for Monax’s exploration activities at its 100% owned Parndana project on Kangaroo Island, with an induced polarisation survey planned to commence within the next three weeks”.

Gary Ferris Managing Director, Monax Mining Ph: (08) 8245 4900 Email: info@monaxmining.com.au

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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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