FireFly Metals Ltd. — Capital/Financing Update 2014

Mar 16, 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 17 March, 2014

ASX RELEASE

Millers Creek Exploration Update

HIGHLIGHTS

• Modelling of gravity data completed with several targets outlined.

• Detailed heli-borne magnetic survey planned to commence later this month to assist with drill hole positioning.

Monax Mining Limited (“Monax”) (ASX:MOX) announced today that it had completed modelling of detailed ground gravity data for the Millers Creek Designated Project (“Millers Creek DP”), located within the Woomera Prohibitive Area (WPA) in South Australia.

The Millers Creek DP is a joint project between the Company and its strategic alliance partner, a wholly-owned subsidiary of major Chilean copper producer Antofagasta plc (“Antofagasta”), via Monax’s own wholly-owned subsidiary, Monax Alliance Pty Ltd (“Alliance”).

The Millers Creek DP comprises three Alliance tenements together with four ASX-listed Maximus Resources Limited (“Maximus”) tenements totalling 3165km[2] (Figure 1).

Data modelling has outlined three priority iron-oxide copper-gold (IOCG) targets, and several lesser ranked prospects, and Alliance will undertake a detailed heli-borne magnetic survey to assist with modelling depth to basement and provide better quality magnetic data to assist with locating potential drill holes.

“The current available magnetic data is 400m line spaced, and the detailed heli-borne magnetic data will provide Alliance with two high-resolution geophysical data sets to outline prospective drill targets,” Monax Mining Managing Director, Mr Gary Ferris, said today.

“The magnetic survey will take several days to complete and is planned to commence within the next two weeks. Results of the heli-borne magnetic survey will be presented to Antofagasta representatives, and any decision to drill will be made by the Monax:Antofagasta Technical Committee” he said.

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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Figure 1. Location of Monax Projects including the Millers Creek Designated Project .

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