FireFly Metals Ltd. — Capital/Financing Update 2015

Dec 21, 2015

Exploration Office Level 3, 100 Pirie Street ADELAIDE SA 5000

ABN: 96 110 336 733

Tel: +61 8 8232 8320 Fax: +61 8 8232 8811 www.monaxmining.com.au

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For Immediate Release Tuesday 22 December 2015

ASX RELEASE

Western Gawler Craton Project Update

HIGHLIGHTS

• Monax retains a 10% interest in the Western Gawler Craton Project

Monax Mining Ltd (“Monax”) (ASX: MOX) wishes to announce that it will maintain a 10% interest in the Western Gawler Craton (“WGC”). Monax and Western Areas Limited (“Western Areas”) will now form an unincorporated joint venture whereby Monax has the option to co-fund exploration pro-rata (based on a 10% interest).

The WGC Project has recently been fully funded by Western Areas under a farm-in agreement. Western Areas have completed Stage 2 of the earn-in for the WGC Project by expending $1.2 million on exploration activities.

If you have any queries, please don’t hesitate to contact:

Gary Ferris Managing Director Monax Mining Limited Ph: (08) 8232 8320 Email: info@monaxmining.com.au

Duncan Gordon Adelaide Equity Partners Investor Relations Ph: 0404 006 444 dgordon@adelaideequity.com.au