FireFly Metals Ltd. — Capital/Financing Update 2017

Jul 5, 2017

6 July 2017

Share Purchase Plan - Extension of Closing Date

Dear Shareholders

You should have received your Share Purchase Plan (“SPP”) documents which entitle eligible shareholders of Monax Mining Limited (“Monax” or ”Company”) to purchase up to $15,000 worth of fully paid ordinary shares in the capital of Monax, free from all brokerage and commissions.

Monax has extended the closing date of the SPP to 31 July 2017 in order for shareholders to review data received from current drilling activities at the Percyville Gold Project Monax’s ability to further progress exploration and drilling activities at the Percyville and Croydon Projects and provide working capital to progress detailed due diligence on project opportunities is dependent upon a strong shareholder participation in the SPP.

SPP Terms

The issue of shares under the SPP will be limited to 133,333,333 new fully paid ordinary shares at $0.006 each to raise a maximum of $800,000. If applications for more than 133,333,333 new fully paid ordinary shares are received, the Company may, in its absolute discretion, undertake a scale-back to the extent and in the manner it sees fit.

The issue price of $0.006 per share under this SPP represents 80.0% of the 5-day volume weighted average market price of the Company’s shares on the Australian Stock Exchange ( ASX ) taken as at market close 13 June 2017.

The SPP offer provides existing shareholders the opportunity to acquire additional ordinary shares in the Company up to a maximum value of $15,000, or intervals of $500, $1,000, $2,000, $5,000 and $10,000.

Monax directors reserve the right to close the SPP early. Applications will be accepted and allocated on a first come, first accepted basis, as the Company’s directors decide. Participation in the SPP is optional and the right to participate is not transferable.

Monax notes that shareholders with an address on the Company’s register in Australia or New Zealand at the close of business on 13 June 2017 ( Eligible Shareholders ) can purchase SPP shares without incurring brokerage costs.

2

Revised SPP Timetable

Event	Date
SPP Record Date	Tuesday 13 June 2017
SPP Announcement	Wednesday 14 June 2017
SPP Offer documents despatched	Tuesday 20 June 2017
SPP Opening Date	Wednesday 21 June 2017
SPP Closing Date	Monday 31 July 2017
Issue of New Shares	Monday 7 August 2017
Quotation of Shares on ASX	Tuesday 8 August 2017

The timetable above is indicative only and may be subject to change. Monax reserves the right to vary the timetable without notice. The commencement of trading of new shares is subject to confirmation from the ASX.

The SPP represents an excellent opportunity for existing shareholders holding unmarketable parcels to increase their holdings without incurring transaction costs.

If you have any concerns about what to do, you should contact your broker or other financial adviser. You can also call the Company and ask to speak to either myself, or the Company Secretary on (08) 8232 8320.

If you have not received the SPP documents then please contact Computershare (1300 556 161).

On behalf of your Directors, I thank you for your past support and invite you to consider this opportunity for future investment in the Company.

Thank you

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Robert M Kennedy CHAIRMAN