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FireFly Metals Ltd. Capital/Financing Update 2026

Apr 7, 2026

48548_rns_2026-04-07_b1c5d205-68b0-462f-a99e-e22dc6b99ea2.pdf

Capital/Financing Update

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ASX: FFM | TSX: FFM Company Announcement 8 April 2026

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- Green Bay Copper Gold Project, Canada

Drilling establishes continuity of high-grade core, bolstering scope for strong early cashflow

Latest assays include 70.8m @ 4.0% CuEq including 19.2m @ 7.5% CuEq ; These exceptional results will help underpin a further increase to M&I Resource estimate and economic studies

KEY POINTS

  • Outstanding drilling results continue to demonstrate strong continuity of mineralisation at Green Bay, particularly in the high-grade Core Zone and adjacent Volcanogenic Massive Sulphide (VMS) zones

  • The latest holes into the +800m zone of thick high-grade copper and gold mineralisation (Core Zone), returned intersections of:

  • 70.8m @ 4.0% copper equivalent ( CuEq)[1] (3.4% Cu & 0.6g/t Au) including a high-grade stringer zone of 19.2m @ 7.5% CuEq (7.1% Cu & 0.4g/t Au) ( ~ true thickness ) in hole MUG25-96

  • 53.3m @ 4.1% CuEq (3.4% Cu & 0.8g/t Au) including an upper zone grading 18.2m @ 5.8% CuEq (4.5% Cu & 1.5g/t Au) ( ~ true thickness ) in hole MUG25-209

  • The current Green Bay Mineral Resource stands at 50.4Mt @ 2.0% CuEq in the Measured & Indicated (M&I) category and a further 29.3Mt @ 2.5% CuEq in the Inferred category

  • The high-grade Core Zone contains 8.8Mt @ 3.9% CuEq of M&I, and an additional 10.9Mt @ 3.8% CuEq of Inferred, Mineral Resource (see ASX announcement dated 18 November 2025).

  • The high-grade Core Zone is significant because it has the potential to be an extremely valuable feed source in the early years of future production scenarios. This will be assessed as part of the economic studies that are well underway

  • This Core Zone remains open with the deepest hole drilled to date returning 49.0m @ 6.1% CuEq (see ASX announcement dated 16 October 2025).

  • The main upper VMS zones continued to deliver spectacular copper and gold intersections, including:

  • 11.9m @ 8.1% CuEq (6.0% Cu & 2.3g/t Au) in hole MUG25-219 ( ~ true thickness )

  • 25.7m @ 7.8% CuEq (4.4% Cu & 3.5g/t Au) in hole MUG25-187 ( ~ true thickness )

1 Metal equivalent for drill results reported in this announcement have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz, silver price of US$25/oz and zinc price of US$2,500/t. Metallurgical recoveries have been set at 95% for copper, 85% for precious metals and 50% for zinc. CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.0822) + (Zn(%) x 0.15038). In the opinion of the Company, all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold based on current market conditions, metallurgical test work, and historical performance achieved at the Green Bay project whilst in operation.

FireFly Metals Ltd

ACN 110 336 733 Principal & Registered Office: Level 2/8 Richardson Street West Perth WA 6005

+61 8 9220 9030 [email protected] www.fireflymetals.com.au

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  • 16.3m @ 7.7% CuEq (4.3% Cu & 3.5g/t Au) in hole MUG25-206 ( ~ true thickness )

  • 11.9m @ 6.8% CuEq (2.9% Cu & 3.9g/t Au) in hole MUG25-195 ( ~ 8.3m true thickness )

  • 14.0m @ 5.9% CuEq (3.0% Cu & 3.0g/t Au) in hole MUG25-169 ( ~ true thickness )

  • Further significant intersections were returned from close-spaced drilling in the Footwall Zone stringer-style mineralisation. Significant intersections include:

  • 20.9m @ 4.5% CuEq (4.2% Cu & 0.3g/t Au) in hole MUG25-216 (~ true thickness)

  • Results in this announcement point to strong conversion of current Inferred Mineral Resources into the higher confidence Measured and Indicated Mineral Resources (M&I). This is important because only M&I can be converted into Ore Reserves

  • Six rigs continue to operate underground with the aim of growing the M&I Resource and high-grade VMS-style mineralisation for inclusion in the economic studies

  • Economic studies remain on track for delivery in mid-2026 and will highlight multiple scenarios for the resumption of upscaled copper and gold production

  • Regional exploration continues with drilling of regional geophysical targets; Maiden drilling at the Tilt Cove project is expected in coming months

  • The Company is well funded to achieve its growth objectives with ~A$251 million in cash and liquid investments as at 31 December 2025

FireFly Managing Director Steve Parsons said: “These outstanding results again emphasise the immense value of the high-grade Core Zone at Green Bay. The latest intersections of well over 3% copper plus significant gold highlight not just the exceptional grades but also the strong continuity of the mineralisation. This zone has the potential to bolster the early economics of a production scenario.

“The results also align with our strategy to create value by growing the Measured & Indicated Resource. The updated Resource will feed into the economic studies now underway. And we are pushing hard to make new discoveries with drilling underway to test regional targets.”

FireFly Metals Ltd (ASX, TSX: FFM) ( Company or FireFly ) is pleased to announce more exceptional drilling results that demonstrate strong continuity in the high-grade mineralisation at the Green Bay Copper-Gold Project in Newfoundland and Labrador, Canada.

Infill drilling of the high-grade Core Zone continues to yield thick high-grade zones of copper and gold where the upper VMS mineralisation converges with the broad stringer zone in the footwall.

Latest results include 70.8m @ 4.0% CuEq and 53.3m @ 4.1% CuEq, confirming the continuity of the Core Zone, which has a current Mineral Resource of 8.8Mt @ 3.9% CuEq M&I and 10.9Mt @ 3.8% CuEq Inferred . The Core Zone has potential to grow and remains open with the deepest hole drilled to date returning an intersection of 49.1m @ 6.1% CuEq (see ASX announcement dated 16 October 2025).

The total Mineral Resource Estimate (MRE) for the Green Bay project stands at 50.4Mt @ 2.0% CuEq M&I and 29.3Mt @ 2.5% CuEq Inferred .

ASX: FFM | TSX: FFM

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The Core Zone will form an important part of the potential upscaled mine restart currently being evaluated in economic studies, with early mining expected to focus on this high-grade copper and gold zone.

Recent drilling has also defined and extended the mineralisation in the upper copper and goldrich VMS zones, with intersections of 11.9m @ 8.1% CuEq , 25.7m @ 7.8% CuEq and 16.3m @ 7.7% CuEq . Drilling into the broad FW stringer zone has also returned strong results including 20.9m @ 4.5% CuEq .

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Figure 1: Long section through the Green Bay Ming underground mine highlighting the location of select drill results from this announcement only. Results from both the high-grade copper-gold VMS zone and broad copper Footwall Zone are shown. The large scale DHEM conductor (green) beyond the edge of the current Mineral Resource highlights strong potential for the Mineral Resource to continue. Drill assays >0.5% copper are shown in red. All intersections true thickness unless otherwise stated. Refer to Appendix B for all drill results and locations.

The economic studies on the upscaled resumption of copper and gold production at Green Bay are well underway with delivery of the Preliminary Economic Assessment ( PEA ) / Scoping Study anticipated in mid-2026. This assessment will highlight multiple potential development scenarios for the future operation at Green Bay.

An updated Mineral Resource Estimate will be released prior to the completion of the economic studies.

Drilling continues underground with six rigs focused on a combination of both infill drilling and extending the known Mineral Resource in the high-grade VMS zones.

Regional exploration is starting to accelerate following the winter period. Work has focused on target generation utilising both geophysics, prospecting and historic data compilation. Two

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surface rigs are currently testing geophysical anomalies in the areas south of the Ming Mine. Drilling at the Company’s Tilt Cove project will commence in the coming months.

FireFly is well funded to continue its growth drilling, economic studies and pre-construction early works activities. The Company has A$251M (~CAD$230M) in cash and liquid investments as at 31 December 2025.

About the Drilling Results

Drilling at the Ming underground copper-gold mine recommenced following FireFly’s acquisition of the Green Bay Copper-Gold Project in October 2023. In total, FireFly has completed ~174,000m of underground diamond drilling up to 31 March 2026.

This announcement contains the results of 49 drill holes. The drilling results focus on infill drilling and holes targeting the lateral margins of the mineralisation. Logging and analysis of additional drill holes is ongoing.

There are two distinct styles of mineralisation present at the Ming Mine, consisting of a series of upper copper-gold rich VMS lenses underlain by a broad copper-rich stringer zone, known as the Footwall Zone ( FWZ ).

The FWZ is extensive, with the copper stringer mineralisation observed over thicknesses of ~150m and widths exceeding 200m. The known strike of the mineralisation defined to date is three kilometres and it remains open down-plunge.

Six drill rigs are currently operating underground, with the focus split between both step-out extension and exploration (two rigs) and infill Mineral Resource conversion drilling (four rigs).

All drilling reported in this announcement has been conducted from the 805L drill drive. Whilst this development is currently being utilised for exploration, it will form an important part of future mine infrastructure for the potential upscaled operation.

Additional development has been completed from this drive to position the rigs to test for high grade extensions of the 1806 and 1807 VMS lodes. The location of drill platforms and holes reported in this announcement are presented in Figure 2. Significant assay results are presented in Appendix B of this announcement.

Resource Conversion Drilling

805L Exploration Drive Crosscuts 3 and 4

The drilling completed from the mid-section of the 805L Exploration drive (Crosscuts 3 and 4) focused on upgrading the data density of the Inferred Mineral Resource reported in MRE announced by the Company on 18 November 2025 ( November 2025 MRE ).

Drilling predominantly focused on conversion of the upper high-grade VMS zones which will potentially form an important high-grade component in the early years of an upscaled restart of production at the Ming Mine.

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Figure 2: Isometric view of the Ming Mine 805L Exploration Drive showing the location of drill platforms and drilling reported in this announcement . Assay results greater than 0.5% Cu are shown in red.

Hole MUG25-096 was particularly significant because it demonstrated continuity of mineralisation in the Core Zone where the upper VMS mineralisation converges with the lower Footwall-style stringer mineralisation. Select results from the 805L Exploration drive crosscuts 3&4 are presented in Table 1 .

Hole Number Style
From
(m)
To
(m)
Width
(m)		 Assay
CuEq
%
Cu %
Au g/t
Ag g/t
Zn %		 Comments
MUG25_096
VMS
295.2
366.0
70.8
including
& FWZ
339.7
358.9
19.2		 3.4
0.6
6.1
0.4
4.0
7.1
0.4
7.2
0.2
7.5		 Intersected the convergent Core
Zone where Cu and Au-rich VMS
transitions into thick high-grade Cu
rich FWZ mineralisation
MUG25-166
FWZ
471.3
500.9
29.6		 1.5
0.1
1.7
0.03
1.5		 Contained multiple zones of Cu-
dominant FWZ style mineralisation
MUG25_195
VMS
272.6
284.5
11.9
(~8.3m
TW)		 2.9
3.9
35.3
2.2
6.8		 A thick gold-dominated pyritic
massive sulphide
MUG25_211
VMS
368.5
373.5
5.1
(~3.3m
TW)		 4.3
2.4
22.6
1.8
6.8		 A moderate copper-gold VMS
horizon
MUG25_213
VMS
307.9
316.6
8.8
(~6.6m
TW)		 0.9
1.3
10.2
0.5
2.2		 A lower-grade pyrite-dominated
massive sulphide horizon of
moderate thickness at the margins
of the VMS channel
MUG25_224
VMS
259.3
268.7
9.4
(~8.5m
TW)		 3.6
4.4
26.0
2.9
7.8		 A thick zone of massive sulphide
MUG25_228
VMS
220.5
237.5
17.1		 2.0
2.4
17.4
1.8
4.4		 A wide zone of moderately grading
massive sulphides

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Hole Number Style
From
(m)
To
(m)
Width
(m)		 Assay
CuEq
%
Cu %
Au g/t
Ag g/t
Zn %		 Comments
MUG25_236
VMS
332.8
338.2
5.3
(~3.2m
TW)		 2.5
2.1
22.6
2.5
4.7		 A Cu and Au massive sulphide
horizon near the outer margins of
the VMS lode
MUG25_245
VMS
345.6
349.6
4.0
(~2.6m
TW)		 2.9
1.6
23.0
2.1
4.7		 A small but high-grade massive
sulphide horizon containing both
Cu and Au
MUG25-252
VMS
304.7
307.9
3.2
(~2.1m
TW)		 3.3
2.2
19.3
1.5
5.5

Table 1: Drill results from the 805L Exploration Drive Crosscuts 3 and 4. All results presented are approximate true thickness unless otherwise stated.

805L Exploration Drive 870L Cuddy

The 870L Cuddy in the 805L Exploration drive was mined to provide an optimised position to define the VMS zones west of the Ming North lode. Lateral extensions of Ming North and the down-plunge continuation of the historically mined 1806 lode were tested from the 870L Cuddy. Results indicate the known VMS from this area reported in the November 2025 MRE will likely have a high conversion rate from Inferred Mineral Resource to M&I category. Furthermore, this drilling indicates that the 1806 position extends down plunge and may lead to a Mineral Resource addition in the upcoming MRE planned for mid-year. Results reported in this announcement ( Table 2 ) include:

Hole Number Style
From
(m)
To
(m)
Width
(m)		 Assay
CuEq
%
Cu %
Au g/t
Ag g/t
Zn %		 Comments
MUG25_169
VMS
243.2
257.1
14.0		 3.0
3.0
27.6
2.1
5.9		 Targeted high-grade VMS
mineralisation and intersected
significant grades of both Au and
Cu
MUG25_182
VMS
243.9
256.6
12.7		 3.6
2.5
18.4
1.9
6.1		 Demonstrated continuity in both
Cu and Au grades
MUG25_187
VMS &
FWZ
252.3
277.9
25.7		 4.4
3.5
28.1
1.5
7.8		 Intersected thick Cu and Au rich
massive sulphide mineralisation
MUG25_196
VMS
284.0
291.6
7.6		 1.6
1.8
14.2
2.5
3.6		 Encountered Au and Cu bearing
massive sulphides near the
margins of the VMS
MUG25_197
VMS
279.3
283.0
3.7
289.8
293.3
3.5		 3.4
3.0
19.7
2.4
6.4
1.9
2.2
15.5
0.6
4.0		 Intersected multiple massive
sulphide lodes of moderate
thickness
MUG25_206
VMS
275.0
291.3
16.3		 4.3
3.5
24.1
1.7
7.7		 A thick high-grade Cu and Au rich
VMS zone

Table 2: Drill results from the 805L Exploration Drive 870L Cuddy targeting the VMS west of the main Ming North Zone. All results are approximate true thickness unless otherwise stated.

805L Exploration Drive 880RM 1 and 2 Cuddies

The 880 RM stockpiles in the 805 Exploration drive provided an ideal platform to increase the drill density in the northern VMS and FWZ mineralised domains. Results confirm the continuity of both styles of mineralisation and were consistent with the predictions of the November 2025 MRE model. Select drilling results from the 880RM cuddies are summarised in Table 3 .

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Hole Number Style
From
(m)
To
(m)
Width
(m)		 Assay
CuEq
%
Cu %
Au g/t
Ag g/t
Zn %		 Comments
MUG25_209
VMS &
FWZ
301.3
354.6
53.3		 3.4
0.8
6.4
0.2
4.1		 Tested the convergent Core Zone
where the VMS and FWZ
mineralised zones converge
MUG25_210
FWZ
492.9
495.6
2.8
FWZ
527.9
529.9
2.0		 3.1
0.4
3.3
0.1
3.5
1.9
0.1
1.8
0.01
2.0		 Intersected multiple thin zones of
FWZ stringers at the margins of the
interpreted mineralisation
MUG25_216
VMS
342.0
346.1
4.1
VMS
354.0
356.0
2.0
FWZ
364.0
368.0
4.0
FWZ
378.2
399.0
20.9		 3.7
1.7
9.8
1.5
5.4
2.1
1.0
6.2
4.1
3.6
2.0
0.8
4.4
0.2
2.8
4.2
0.3
4.5
0.1
4.5		 Intersected both VMS
mineralisation and a thick zone of
high-grade copper mineralisation
in the upper footwall horizon
MUG25_219
VMS
314.9
326.8
11.9
FWZ
341.0
343.0
2.0
FWZ
354.0
356.0
2.0
FWZ
366.0
368.0
2.0		 6.0
2.3
18.6
0.4
8.1
3.2
0.6
5.1
0.1
3.7
1.4
0.5
2.8
0.1
1.9
1.2
0.2
2.3
0.02
1.0		 Thick high-grade copper-gold rich
VMS underlain by multiple thin
mineralised zones in the upper
Footwall Zone
MUG25_220
VMS
359.4
361.2
1.8
VMS
365.8
368.6
2.8
VMS
372.6
374.8
2.3
FWZ
387.7
399.7
12.0
FWZ
408.8
415.6
6.8
FWZ
438.1
460.9
22.8		 1.7
1.4
14.1
1.8
3.2
1.9
1.4
11.4
1.1
3.3
1.3
1.3
7.4
0.04
2.4
1.7
0.1
1.7
0.1
1.8
1.6
0.3
1.9
0.02
1.9
1.4
0.1
1.4
0.09
1.5		 Drilled the upper VMS and
continued into the Footwall
mineralisation
MUG25_223
VMS
375.2
380.5
5.3
FWZ
401.4
404.5
3.1
FWZ
422.0
440.0
18.0
FWZ
447.7
476.7
29.1		 1.6
1.3
11.4
0.9
2.9
1.7
0.2
2.5
0.1
1.9
1.6
0.2
1.7
0.1
1.80
1.8
0.1
1.4
0.1
1.9		 Upper copper-gold VMS and two
thick zones of footwall
mineralisation separated by a
gabbro dyke
MUG25_230
VMS
369.6
371.9
2.3
FWZ
489.6
500.0
10.4
FWZ
509.4
526.3
16.9
FWZ
546.9
553.9
7.0
FWZ
560.4
572.0
11.7		 1.3
3.5
20.3
0.5
4.4
1.1
0.1
1.2
0.01
1.2
1.7
0.1
1.8
0.02
1.8
2.5
0.1
3.1
0.02
2.6
1.5
0.1
2.0
0.04
1.6		 Thin upper VMS horizon underlain
by multiple zones of stringer-style
mineralisation
MUG25_232
VMS
308.2
311.2
2.9		 6.5
2.0
21.4
0.6
8.4		 Short holes drilled to test the high-
grade VMS horizon at the
interpreted margins of the sulphide
channels
MUG25_234
VMS
296.0
298.9
2.9		 11.8
2.4
34.6
0.5
14.1		 Narrow but very high-grade VMS
MUG25_239
VMS
301.5
307.5
5.9		 3.5
2.0
9.4
0.8
5.4		 Drilled to infill only the VMS and
successfully proved continuity of
the mineralisation
MUG25_240
FWZ
500.3
532.6
32.3
FWZ
541.0
548.0
7.0
FWZ
559.5
569.5
10.0		 1.6
0.1
1.4
0.01
1.7
2.3
0.1
2.4
0.02
2.4
2.1
0.1
2.5
0.04
2.2		 Intersected multiple mineralised
footwall zone stringers
MUG25_243
VMS
319.3
323.0
3.7		 2.6
1.3
13.5
2.3
4.2		 Drilled to test the VMS
mineralisation at the interpreted
margins.
MUG25_253
VMS
321.1
323.0
1.9		 5.8
2.5
17.2
0.5
8.2		 Although thin, the hole
demonstrated that the high-grade
VMS mineralisation continues
laterally

Table 3: Drill results from the 805L Exploration Drive 880 RM 1 and 2 Cuddies targeting the northern VMS and FWZ. All results are approximate true thickness unless otherwise stated.

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805L Exploration Drive 920L Crosscuts 5 and 6

The 920-level crosscuts are the northern most drill platforms in the mine. Drilling reported in this announcement was infill drilling in the area reported as Inferred Mineral Resource in the November 2025 MRE. Drilling results received from the infill completed in crosscuts 5 and 6 are summarised in Table 4 .

Hole Number Style
From
(m)
To
(m)
Width
(m)		 Assay
CuEq
%
Cu %
Au g/t
Ag g/t
Zn %		 Comments
MUG25_218
791.3
794.6
3.3
799.7
802.6
2.9
810.0
825.0
15.0
839.0
901.4
62.4		 0.2
3.0
76.8
0.04
3.4
1.1
2.0
20.8
3.5
3.4
0.8
3.2
22.4
0.6
3.7
1.7
0.2
1.6
0.03
1.8		 Intersected three gold-dominated
VMS horizons underlain by a thick
continuously mineralised Footwall
Zone
MUG25_226
528.5
546.0
17.5
555.0
559.5
4.5
562.0
567.0
5.0		 3.0
0.2
2.9
0.2
3.2
2.0
0.1
2.2
0.2
2.1
1.4
0.1
1.7
0.2
1.5		 Intersected from multiple Footwall
Zones of copper-dominated
mineralisation
MUG25_238
437.2
438.7
1.6
528.1
533.0
5.0
539.0
548.0
9.0
555.5
583.0
27.6		 4.0
3.2
32.8
0.05
6.9
1.7
0.2
1.4
0.02
1.9
2.6
0.1
2.4
0.04
2.7
1.4
0.1
1.2
0.02
1.5		 Contained a thin upper VMS zone
above multiple zones of FWZ
stringer-style mineralisation
MUG25_244
445.0
450.2
5.2
488.0
533.0
45.0		 2.7
1.5
14.3
1.0
4.2
2.2
0.1
2.4
0.1
2.4		 Tested the upper VMS zone before
extending into the FWZ where it
intersected a thick high- grade
zone

Table 4: Drill results from the 805L Exploration Drive 920L Crosscuts 5 and 6. This is the northern-most drill platform in the Ming Mine. All results are approximate true thickness unless otherwise stated.

805L Exploration Drive 900L Crosscuts 7 and 8

Drilling has recently commenced from the newly completed 900 Level Crosscut 7 and 8 platforms. This development was mined from the 805 Exploration drive to provide a better angle to define the high-grade Ming North and South VMS horizons. First results are encouraging, with significant assays summarised in Table 5 .

Hole Number Style
From
(m)
To
(m)
Width
(m)		 Assay
CuEq
%
Cu %
Au g/t
Ag g/t
Zn %		 Comments
MUG25_249
370.9
378.6
7.7		 3.1
1.1
12.6
1.3
4.3		 Returned a thick zone of high-
grade VMS mineralisation
MUG25_254
369.2
373.6
4.4		 8.3
3.3
17.5
0.4
11.3		 Intersected very high-grade
chalcopyrite-dominated massive
sulphide mineralisation

Table 5: Drill results from the 805L Exploration Drive 900L Crosscuts 7 and 8. This is an intermediate location between the 880 RM and 920L cuddies that was mined to improve the intersection angle of the infill drilling. Drilling has just commenced and these are the first two holes completed from the platform. All results are approximate true thickness unless otherwise stated.

805L Exploration Drive 1807 Crosscut

The 1807 Crosscut was mined from the 805 Exploration drive to test for the down-plunge extension of the namesake gold-rich 1807 VMS lode that previous operators historically mined. Although

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mineralisation was intersected it was thin and contained lower grades than typically observed in VMS style mineralisation at Ming. As development progresses, the Company will continue to assess the 1807 trend to test if the width and grade of the lode changes at depth.

2026 Forward Work Plans

The FireFly growth strategy remains focused on advancing the Green Bay project towards the resumption of upscaled copper and gold production. Near term activities remain focused on:

  • Upgrading the Mineral Resource , through infill drilling, from Inferred to M&I Mineral Resource

  • Mineral Resource Growth , through down-plunge drilling

  • Completion of the Preliminary Economic Assessment in mid-2026;

  • Advancement of permitting, engineering and early works to support future development scenarios; and

  • New Discoveries from both underground and surface regional exploration drilling

Green Bay (Ming Mine) Mineral Resource Development

As of 31 March 2026, the Company had completed ~174,000 metres of underground diamond drilling. Six underground rigs will continue to advance the underground Mineral Resource development and extension activities for the foreseeable future.

Near-term underground drilling will remain focused on infill definition to upgrade areas of Inferred to the higher confidence M&I Mineral Resources ahead of economic studies into resuming upscaled production at Green Bay. The decision to focus on infill drilling is driven by numerous factors, including:

  • The requirement for a minimum of 70% M&I Mineral Resource in early-stage economic studies. Conversion drilling has the potential to generate shareholder value through maximising the quantity of economic material available for incorporation into mine plans resulting in longer mine life in the initial study;

  • Future potential Ore Reserves can only be generated from M&I Mineral Resources ;

  • M&I Mineral Resources can be incorporated into Feasibility Studies ; and

  • De-risking the project by further increasing confidence in the geological model and grade estimation.

Green Bay (Ming Mine) Mineral Resource Growth

Mineral Resource growth in coming months will be driven by testing down plunge extensions of the high-grade VMS channels parallel to the Ming North lode. Drilling in this announcement shows the 1806 VMS continues at depth and Mineral Resource additions are expected from this zone.

A MRE update is planned for the current quarter and will incorporate drilling completed since the issue of the previous estimate in November 2025. This update will be the estimate used to complete the first economic studies.

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Economic Studies

Economic and technical studies on the upscaled resumption of copper and gold production at Green Bay are well underway.

The study, intended for completion in mid-2026, will meet the criteria of a Scoping Study (in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ( JORC Code 2012 Edition )) and Preliminary Economic Assessment (in Canadian National Instrument NI 43-101 – Standards of Disclosure for Mineral Projects ( NI 43-101 )).

The PEA will consider various development scenarios for the project, including several haulage scenarios (e.g., shaft, decline), annual production rates (scale), and Life of Mine metal production.

Project Development

The Company has secured conditional release from further Environmental Assessment by the Province of Newfoundland and Labrador for a start-up mining and processing operation (see ASX announcement dated 5 August 2025). FireFly has now satisfied conditions of the release and has commenced applying for permits. The Company expects to commence selective low-cost seasonal early works in the coming months to prepare the Project for future development and construction.

Regional & Generative Exploration

Regional exploration is accelerating following a scheduled winter hiatus. Recent activity has focused on target generation incorporating both geophysics survey and interpretation, prospecting programs and compilation of historic datasets. Two surface diamond drill rigs are currently testing geophysical anomalies in the areas south of the Ming Mine. Drilling at the Company’s Tilt Cove project, located within the 346km[2] Green Bay land package, will commence in the coming months as the Company continues to advance its broader district exploration strategy.

Balance Sheet and Funding Position

FireFly is well-funded to execute its growth drilling program, economic studies and preconstruction early works activities. As at 31 December 2025, the Company has approximately A$251 (~CAD$230) million in cash and liquid investments, providing a strong foundation to advance Green Bay through the upcoming economic study milestones and into Final Investment Decision.

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Figure 3: Timeline of key activities at the Green Bay copper-gold project. 1. Please note that timeframes are indicative and may be subject to change.

Steve Parsons Jessie Liu-Ernsting Media Managing Director Chief Development Officer Paul Armstrong FireFly Metals Ltd FireFly Metals Ltd Read Corporate +61 8 9220 9030 +1 709 800 1929 +61 8 9388 1474

ABOUT FIREFLY METALS LTD

FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project in Newfoundland, Canada. The Green Bay CopperGold Project currently hosts a Mineral Resource Estimate prepared and disclosed in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ( JORC Code 2012 ) and Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ( NI 43-101 ) of 50.4Mt of Measured and Indicated Mineral Resources

at 2.0% for 1,016Kt copper equivalent (CuEq) and 29.3Mt of Inferred Mineral Resources at 2.5% for 722Kt CuEq. The Company has a clear strategy to rapidly grow the copper-gold Mineral Resource to demonstrate a globally significant copper-gold asset.

FireFly holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Mineral Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold , with exceptional discovery potential on the 500km[2] tenement holding.

The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia .

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Further information regarding FireFly is available on the ASX platform (ASX: FFM), the Company’s website www.fireflymetals.com.au or SEDAR+ www.sedarplus.ca.

COMPLIANCE STATEMENTS

Mineral Resource Estimate – Green Bay Project

The Mineral Resource Estimate for the Green Bay Project referred to in this announcement and set out in Appendix A was first reported in the Company’s ASX announcement dated 18 November 2025, titled ‘Mineral Resource increases 51% to 1.4Mt of copper and 1.1Moz of gold’ and is also set out in the Technical Report for the Ming Copper-Gold Mine, titled ‘National Instrument 43-101 Technical Report, FireFly Metals Ltd, Green Bay Ming Mine Copper-Gold Project, Newfoundland’ with an issue date of 1 December 2025 and a Mineral Resource effective date of 18 November 2025, available on SEDAR+ at www.sedarplus.ca.

Mineral Resource Estimate – Little Deer

The Mineral Resource Estimate for Little Deer referred to in this announcement was first reported in the Company’s ASX announcement dated 29 October 2024, titled ‘Resource Increases 42% to 1.2Mt of contained metal at 2% Copper Eq’ and is also set out in the Technical Report for the Little Deer Copper Project, titled ‘Technical Report and Updated Mineral Resource Estimate of the Little Deer Complex Copper Deposits, Newfoundland, Canada’ with an effective date of 26 June 2024, available on SEDAR+ at www.sedarplus.ca.

Mineral Resource Estimate – Pickle Crow Project

The Mineral Resource Estimate for the Pickle Crow Project referred to in this announcement was first reported in the Company’s ASX announcement dated 4 May 2023, titled ‘High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t’ and is also set out in the Technical Report for the Pickle Crow Project, titled ‘NI 43-101 Technical Report Mineral Resource Estimate Pickle Crow Gold Project, Ontario, Canada’ with an effective date of 29 November 2024, as amended on 11 June 2025, available on SEDAR+ at www.sedarplus.ca.

Metal equivalents

Metal equivalents for the Mineral Resource Estimates and Exploration Results have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Individual Mineral Resource grades for the metals are set out in Appendix A of this announcement. Individual grades for the metals for the reporting of metal equivalents for Exploration Results are set out in the ASX announcements in which the Exploration Results were first reported by the Company.

Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822).

Metallurgical factors have been applied to the metal equivalent calculation. Copper recovery used was 95%. Historical production at the Ming Mine has a documented copper recovery of ~96%. Precious metal (gold and silver) metallurgical recovery was assumed at 85% on the basis of historical recoveries achieved at the Ming Mine in addition to historical metallurgical test work to increase precious metal recoveries.

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In the opinion of the Company, all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold based on current market conditions, metallurgical test work, the Company’s operational experience and, where relevant, historical performance achieved at the Green Bay project whilst in operation.

Exploration Results

The exploration results referred to in this announcement were first reported by the Company in the ASX announcements cross-referenced in this announcement.

Original Announcements

FireFly confirms that it is not aware of any new information or data that materially affects the information included in the original announcements referred to or cross-referenced in this announcement and that, in the case of Mineral Resource Estimates, all material assumptions and technical parameters underpinning the estimates in the original announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ and Qualified Persons’ findings are presented have not been materially modified from the original market announcements.

Mineral Resource Estimates and Exploration Results

Mineral Resource Estimates and Exploration Results are calculated in accordance with the JORC Code 2012 and NI 43-101.

Competent and Qualified Person Statements

The information in this announcement that relates to new Exploration Results is based on and fairly represents information compiled by Mr Darren Cooke, a Competent Person who is a member of the Australasian Institute of Geoscientists. Mr Cooke is a full-time employee of FireFly Metals Ltd and holds securities in FireFly Metals Ltd. Mr Cooke has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Cooke has reviewed this announcement and consents to the inclusion in this announcement of the matters based on his information in the form and context in which they appear.

All technical and scientific information in this announcement has been reviewed and approved by Group Chief Geologist, Mr Juan Gutierrez BSc, Geology (Masters), Geostatistics (Postgraduate Diploma), who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Gutierrez is a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101. Mr Gutierrez is a full-time employee of, and holds securities in, the Company. Mr Gutierrez has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101. Mr Gutierrez has reviewed this announcement and consents to the inclusion in this announcement of the matters based on his information in the form and context in which they appear.

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FORWARD-LOOKING INFORMATION

This announcement may contain certain forward-looking statements and projections, including statements regarding FireFly’s plans, forecasts and projections with respect to its mineral properties and programs. Forward-looking statements may be identified by the use of words such as ‘may’, ‘might’, ‘could’, ‘would’, ‘will’, ‘expect’, ‘intend’, ‘believe’, ‘forecast’, ‘milestone’, ‘objective’, ‘predict’, ‘plan’, ‘scheduled’, ‘estimate’, ‘anticipate’, ‘continue’, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives.

Although the forward-looking statements contained in this announcement reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements and projections are estimates only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which may include changes in commodity prices, foreign exchange fluctuations, economic, social and political conditions, and changes to applicable regulation, and those risks outlined in the Company’s public disclosures.

The forward-looking statements and projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that FireFly will be able to confirm the presence of Mineral Resources or Ore Reserves, that FireFly’s plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of FireFly’s mineral properties. The performance of FireFly may be influenced by a number of factors which are outside of the control of the Company, its directors, officers, employees and contractors. The Company does not make any representations and provides no warranties concerning the accuracy of any forward-looking statements or projections, and disclaims any obligation to update or revise any forward-looking statements or projections based on new information, future events or circumstances or otherwise, except to the extent required by applicable laws.

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APPENDIX A

Green Bay Copper-Gold Project Mineral Resources

Ming Deposit Mineral Resource Estimate

TONNES COPPER COPPER GOLD SILVER SILVER CuEq
(Mt) Grade
(%)		 Metal
(‘000 t)		 Grade
Metal
(g/t)
(‘000 oz)		 Grade
(g/t)		 Metal
(‘000 oz)		 Grade
(%)
Measured
Indicated		 6.3
41.2		 1.5
1.7		 94
708		 0.3
50
0.4
488		 1.9
3.2		 388
4,320		 1.7
2.1
TOTAL M&I 47.5 1.7 802 0.4
537		 3.1 4,708 2.0
Inferred 23.1 2.0 456 0.7
553		 5.9 4,379 2.6

Little Deer Mineral Resource Estimate

TONNES COPPER COPPER GOLD SILVER CuEq
(Mt) Grade
(%)		 Metal
(‘000 t)		 Grade
Metal
(g/t)
(‘000 oz)		 Grade
Metal
(g/t)
(‘000 oz)		 Grade
(%)
Measured
Indicated		 -
2.9		 -
2.1		 -
62		 -
-
0.1
9		 -
-
3.4
320		 -
2.3
TOTAL M&I 2.9 2.1 62 0.1
9		 3.4
320		 2.3
Inferred 6.2 1.8 110 0.1
10		 2.2
430		 1.8

GREEN BAY TOTAL MINERAL RESOURCE ESTIMATE

TONNES COPPER COPPER GOLD SILVER CuEq
(Mt) Grade
(%)		 Metal
(‘000 t)		 Grade
Metal
(g/t)
(‘000 oz)		 Grade
Metal
(g/t)
(‘000 oz)		 Grade
(%)
Measured
Indicated		 6.3
44.1		 1.5
1.7		 94
769		 0.3
50
0.4
496		 1.9
388
3.3
4,638		 1.7
2.1
TOTAL M&I 50.4 1.7 863 0.3
546		 3.1
5,026		 2.0
Inferred 29.3 1.9 566 0.6
563		 5.1
4,810		 2.5

  1. FireFly Metals Ltd Mineral Resource Estimates for the Green Bay Copper-Gold Project, incorporating the Ming Deposit and Little Deer Complex, are prepared and reported in accordance with the JORC Code 2012 and NI 43-101.

  2. Mineral Resources have been reported at a 1.0% copper cut-off grade.

  3. Metal equivalents for the Mineral Resource Estimates have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Metallurgical recoveries have been set at 95% for copper and 85% for both gold and silver. These assumptions are made of the basis of historical production at the Ming Mine and additional metallurgical test work. Copper equivalent was calculated based on the formula: CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822).

  4. Totals may vary due to rounding.

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APPENDIX B – Significant Intersection Table

Collar co-ordinates and orientation are listed in the local Ming Mine grid, which is rotated +35 degrees from NAD83 True North. Significant intersections reported are those above a 1% copper cut-off or 0.5g/t gold, and contain a maximum of 6 metres of internal waste. Please refer to the compliance statements for further details on parameters used in the copper equivalent calculation. All results are approximate true width unless otherwise noted (TW).

Hole Number
Easting
Northing
RL
Azi
Dip
Drilled
Length (m)
From
(m)
To
(m)
Width
(m)
Assay
CuEq
%
Cu %
Aug/t
Ag g/t
Zn %
MUG25_096
1165.6
1972.6
-844.3
5
-75
408
295.2
366.0
70.8
Including
339.7
358.9
19.2		 3.36
0.6
6.1
0.43
4.00
7.05
0.4
7.2
0.18
7.50
MUG25_166
1259.7
1967.3
-845.4
157
-88
540
419.3
422.3
3.0
435.5
437.5
2.0
460.0
462.6
2.6
471.3
500.9
29.6		 1.24
0.2
1.3
0.01
1.42
1.53
0.1
1.7
0.01
1.60
1.31
0.1
1.9
0.06
1.39
1.46
0.1
1.7
0.03
1.53
MUG25_169
1085.6
2086.8
-868.6
217
-52
285
243.2
257.1
14.0		 2.95
3.0
27.6
2.14
5.94
MUG25_182
1085.6
2086.8
-868.6
212
-42
285
243.9
256.6
12.7		 3.61
2.5
18.4
1.88
6.10
MUG25_187
1085.6
2086.8
-868.6
202
-24
300
252.3
277.9
25.7		 4.40
3.5
28.1
1.52
7.77
MUG25_194
964.7
2163.6
-877.5
201
-8
414
No Significant Intersections
MUG25_195
1137.5
1972.0
-842.4
217
-2
333
272.6
284.5
11.9
(~8.3 TW)
2.94
3.9
35.3
2.17
6.80
MUG25_196
1085.6
2086.8
-868.6
247
-60
303
284.0
291.6
7.6
1.57
1.8
14.2
2.52
3.57
MUG25_197
1085.6
2086.8
-868.6
225
-44
321
279.3
283.0
3.7
3.42
3.0
19.7
2.40
6.41
289.8
293.3
3.5
1.92
2.2
15.5
0.56
3.97
MUG25_201
1137.5
1972.0
-842.4
214
11
426
395.9
399.5
3.6
(~2.5 TW)
1.46
3.2
11.4
0.77
4.32
MUG25_203
1206.9
2355.8
-917.0
2
-76
366
No Significant Intersections
MUG25_206
1085.6
2086.8
-868.6
218
-34
354
275.0
291.3
16.3
4.33
3.5
24.1
1.72
7.68
MUG25_207
964.67
2163.362
-877.5
201
-20
360
No Significant Intersections
MUG25_209
1117.0
2190.3
-894.0
174
-62
411
301.3
354.6
53.3
3.35
0.8
6.4
0.17
4.07

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Hole Number
Easting
Northing
RL
Azi
Dip
Drilled
Length (m)
From
(m)
To
(m)
Width
(m)
Assay
CuEq
%
Cu %
Aug/t
Ag g/t
Zn %
MUG25_210
1222.1
2255.1
-906.4
167
-68
639
492.9
495.6
2.8
527.9
529.9
2.0		 3.08
0.4
3.3
0.07
3.47
1.94
0.1
1.8
0.01
2.03
MUG25_210
542.7
546.7
4.0
Continued
561.0
570.0
9.0		 1.74
0.1
1.2
0.01
1.81
1.80
0.1
2.0
0.02
1.89
MUG25_211
1137.5
1972.0
-842.4
215
6
471
368.5
373.5
5.1
(~3.3 TW)		 4.31
2.4
22.6
1.79
6.76
MUG25_212
962.6
2163.8
-877.0
206
-9
417
No Significant Intersections
MUG25_213
1137.51
1972.03
-842.4
220
-4
342
307.9
316.6
8.8
(~6.6TW)
0.93
1.3
10.2
0.52
2.19
MUG25_216
1222.1
2255.1
-906.4
196
-52
483
342.0
346.1
4.1
3.71
1.7
9.8
1.51
5.37
354.0
356.0
2.0
3.71
1.7
9.8
1.51
5.37
364.0
368.0
4.0
2.12
1.0
6.2
4.08
3.57
378.2
399.0
20.9
2.03
0.8
4.4
0.17
2.75
408.0
411.0
3.0
4.23
0.3
4.5
0.10
4.54
MUG25_217
962.6
2163.8
-877.0
207
-21
360
No Significant Intersections
MUG25_218
1206.9
2355.8
-917.0
5
-71
972
791.3
794.6
3.3
0.27
3.0
76.8
0.04
3.37
799.7
802.6
2.9
1.05
2.0
20.8
3.46
3.39
810.0
825.0
15.0
0.77
3.2
22.4
0.60
3.67
839.0
901.4
62.4
1.69
0.2
1.6
0.03
1.83
925.8
928.6
2.8
1.41
0.5
2.3
0.01
1.84
948.2
952.3
4.1
1.06
0.2
1.5
0.01
1.20
MUG25_219
1117.0
2190.3
-894.0
179
-74
399
314.9
326.8
11.9
5.99
2.3
18.6
0.44
8.12
341.0
343.0
2.0
3.21
0.6
5.1
0.05
3.73
354.0
356.0
2.0
1.44
0.5
2.8
0.14
1.91
366.0
368.0
2.0
1.17
0.2
2.3
0.02
1.37
MUG25_220
1222.1
2255.1
-906.4
189
-58
531
359.4
361.2
1.8
1.65
1.4
14.1
1.80
3.21
365.8
368.6
2.8
1.86
1.4
11.4
1.11
3.30

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Hole Number
Easting
Northing
RL
Azi
Dip
Drilled
Length (m)
From
(m)
To
(m)
Width
(m)
Assay
CuEq
%
Cu %
Aug/t
Ag g/t
Zn %
MUG25_220
372.6
374.8
2.3
Continued
387.7
399.7
12.0
408.8
415.6
6.8
426.9
428.9
2.0
438.1
460.9
22.8		 1.30
1.3
7.4
0.04
2.44
1.66
0.1
1.7
0.05
1.78
1.59
0.3
1.9
0.02
1.89
1.75
0.2
0.8
0.25
1.94
1.39
0.1
1.4
0.09
1.51
MUG25_221
1137.5
1972.0
-842.4
214
-14
267
229.6
232.5
2.9
(~2.6 TW)
245.0
248.0
3.0
(~2.7 TW)		 1.16
1.5
9.3
0.24
2.54
0.88
2.9
9.0
0.51
3.43
MUG25_223
1222.1
2255.1
-906.4
193
-64
517
375.2
380.5
5.3
401.4
404.5
3.1
422.0
440.0
18.0
447.7
476.7
29.1		 1.64
1.3
11.4
0.94
2.94
1.69
0.2
2.5
0.06
1.88
1.63
0.2
1.7
0.09
1.80
1.80
0.1
1.4
0.09
1.91
MUG25_224
1137.51
1972.03
-842.4
220
-12
300
259.3
268.7
9.4
(~8.5TW)		 3.57
4.4
26.0
2.87
7.83
MUG25_225
1117.0
2190.3
-894.0
200
-79
402
No Significant Intersections
MUG25_226
1255.48
2355.84
-916.91
187
-75
660
528.5
546.0
17.5
2.99
0.2
2.9
0.18
3.17
555.0
559.5
4.5
1.95
0.1
2.2
0.17
2.07
562.0
567.0
5.0
1.41
0.1
1.7
0.15
1.50
569.4
573.0
3.6
1.18
0.1
1.5
0.33
1.28
MUG25_227
962.6
2163.8
-877.0
212
-6
447
No Significant Intersections
MUG25_228
1137.5
1972.0
-842.4
228
-28
270
220.5
237.5
17.1
2.02
2.4
17.4
1.84
4.43
MUG25_229
1117.0
2190.3
-894.0
194
-54
333
292.7
297.0
4.3
1.96
0.4
5.1
0.21
2.39
MUG25_230
1222.1
2255.1
-906.4
172
-58
606
369.6
371.9
2.3
1.26
3.5
20.3
0.51
4.38
489.6
500.0
10.4
1.14
0.1
1.2
0.01
1.21
509.4
526.3
16.9
1.68
0.1
1.8
0.02
1.77
546.9
553.9
7.0
2.49
0.1
3.1
0.02
2.59
560.4
572.0
11.7
1.49
0.1
2.0
0.04
1.56

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Hole Number
Easting
Northing
RL
Azi
Dip
Drilled
Length (m)
From
(m)
To
(m)
Width
(m)
Assay
CuEq
%
Cu %
Aug/t
Ag g/t
Zn %
MUG25_230
576.0
578.0
2.0
Continued
589.6
593.0
3.5		 1.49
0.1
2.1
0.04
1.61
1.33
0.0
2.3
0.06
1.38
MUG25_231
1137.5
1972.0
-842.4
209
11
483
No Significant Intersections
MUG25_232
1117.0
2190.3
-894.0
197
-71
363
308.2
311.2
2.9
6.50
2.0
21.4
0.64
8.42
MUG25_234
1117.0
2190.3
-894.0
197
-63
336
296.0
298.9
2.9
11.78
2.4
34.6
0.46
14.09
MUG25_236
1137.5
1972.0
-842.4
208
7
373
332.8
338.2
5.3
(~3.2 TW)
2.45
2.1
22.6
2.46
4.72
MUG25_237
962.6
2163.8
-877.0
214
-19
387
No Significant Intersections
MUG25_238
1255.5
2355.8
-916.9
183
-66
684
437.2
438.7
1.6
3.96
3.2
32.8
0.48
6.89
528.1
533.0
5.0
1.65
0.2
1.4
0.02
1.86
539.0
548.0
9.0
2.60
0.1
2.4
0.04
2.70
555.5
583.0
27.6
1.41
0.1
1.2
0.02
1.47
616.8
618.8
2.0
1.28
0.1
2.2
0.01
1.35
MUG25_239
1117.0
2190.3
-894.0
206
-52
324
301.5
307.5
5.9
3.51
2.0
9.4
0.82
5.36
MUG25_240
1222.1
2255.1
-906.4
165
-51
609
467.1
469.9
2.8
0.97
0.2
0.9
0.11
1.14
500.3
532.6
32.3
1.56
0.1
1.4
0.01
1.66
541.0
548.0
7.0
2.26
0.1
2.4
0.02
2.39
559.5
569.5
10.0
2.11
0.1
2.5
0.04
2.21
582.0
584.5
2.5
1.18
0.1
1.2
0.02
1.26
MUG25_241
964.7
2163.4
-877.5
194
-6
420
No Significant Intersections
MUG25_243
1117.0
2190.3
-894.0
212
-60
339
319.3
323.0
3.7
2.61
1.3
13.5
2.33
4.15
MUG25_244
1206.9
2355.8
-917.0
182
-68
531
445.0
450.2
5.2
2.69
1.5
14.3
0.99
4.20
488.0
533.0
45.0
2.21
0.1
2.4
0.06
2.35
MUG25_245
1137.51
1972.03
-842.4
210
5
375
345.6
349.6
4.0
(~2.6 TW)
2.88
1.6
23.0
2.09
4.68
MUG25_249
1056.9
2298.9
-899.7
184
-68
429
370.9
378.6
7.7
3.05
1.1
12.6
1.34
4.29
MUG25_252
1137.51
1972.03
-842.4
224
-5
402
304.7
307.9
3.2
3.26
2.2
19.3
1.52
5.47

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Hole Number
Easting
Northing
RL
Azi
Dip
Drilled
Length (m)
From
(m)
To
(m)
Width
(m)
Assay
CuEq
%
Cu %
Aug/t
Ag g/t
Zn %
(~2.1 TW)
MUG25_253
1117.0
2190.3
-894.0
223
-75
363
321.1
323.0
1.9		 5.84
2.5
17.2
0.53
8.16
MUG25_254
1096.0
2286.3
-899.1
170
-72
468
369.2
373.6
4.4		 8.34
3.3
17.5
0.37
11.26
MUG25_259
1222.1
2255.1
-906.4
159
-42
666
No Significant Intersections

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APPENDIX C – JORC CODE, 2012 EDITION

Table 1

Section 1 - Sampling Techniques and Data (Criteria in this section apply to all succeeding sections)

Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Sampling • Nature and quality of sampling (eg cut • This deposit is sampled by diamond drilling (DD)
techniques channels, random chips, or specific completed by FireFly and by previous operators. A
specialised industry standard total of 1,544 drill holes for a total of 371,213m at
measurement tools appropriate to the depths ranging from 10 to 1,771m. Included within
minerals under investigation, such as these figures is ~174,000m drilled by FireFly to 31
down hole gamma sondes, or handheld March 2026.
XRF instruments, etc). These examples • DD sample intervals are based on geological
should not be taken as limiting the observations. All the core is sampled in 1m
broad meaning of sampling. intervals with some smaller samples down to
• Include reference to measures taken to minimum core length of 0.3m to accommodate
ensure sample representivity and the geological and mineralisation contacts. Half NQ
appropriate calibration of any diamond drill core was submitted for analysis.
measurement tools or systems used. • DD sampling by previous operators assumed to
• Aspects of the determination of be to industry standard at that time.
mineralisation that are Material to the The following is a summary of the core sampling
Public Report. procedure:
• In cases where ‘industry standard’ work • All sample collection, core logging, and specific
has been done this would be relatively
simple (eg ‘reverse circulation drilling		 gravity determinations were completed by FireFly
under the supervision of a professionally qualified
was used to obtain 1m samples from registered geologist.
which 3 kg was pulverised to produce a
30 g charge for fire assay’). In other		 • NQ core was marked for splitting during logging
and is sawn using a diamond core saw with a
cases, more explanation may be mounted jig to assure the core is cut lengthwise
required, such as where there is coarse into equal halves. Whole core sampling was used
gold that has inherent sampling for BQ core.
problems. Unusual commodities or
mineralisation types (eg submarine
nodules) may warrant disclosure of		 •
•		 Half of the cut core is placed in clean individual
plastic bags with the appropriate sample tag.
QA/QC samples are inserted into the sample
detailed information. stream at prescribed intervals.
• The samples are then placed in rice bags for
shipment to the offsite laboratory’s facility.
• The remaining half of the core is retained and
incorporated into FireFly’s secure core library
located on the property.
• FireFly drill analysis was completed at ISO-certified
Eastern Analytical laboratories. The samples are
dried, crushed, and pulverised. Samples are
crushed to approximately -10 mesh and split using
a riffle splitter to approximately 300 g. A ring mill is
used to pulverize the sample split to 98% passing -
150 mesh. Sample pulps and rejects are picked up
at Eastern by FireFly staff and returned directly to
the Project site. Sample rejects are securely stored
at the FireFly site.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Drilling • Drill type (eg core, reverse circulation, • Historic diamond drilling was predominately NQ
techniques open-hole hammer, rotary air blast, (47.8 mm diameter) with some BQ (36mm) where
auger, Bangka, sonic, etc) and details grade control programs.
(eg core diameter, triple or standard • FireFly diamond drilling exclusively NQ (47.8 mm
tube, depth of diamond tails, face- diameter) size with core oriented by REFLEX ACT III
sampling bit or other type, whether core core orientation tool.
is oriented and if so, by what method,
etc).
Drill sample • Method of recording and assessing core
•		 Historic diamond drilling was predominately NQ
recovery and chip sample recoveries and results (47.8 mm diameter) with some BQ (36mm) where
assessed. grade control programs. FireFly diamond drilling
• Measures taken to maximise sample is exclusively NQ (47.8 mm diameter) size with
recovery and ensure representative core oriented by REFLEX ACT III core orientation
nature of the samples. tool.
• Whether a relationship exists between
sample recovery and grade and
whether sample bias may have
occurred due to preferential loss/gain of
fine/coarse material.
•
•		 All care is taken to ensure the full recovery of the
core, yet certain drilling conditions, such as
broken ground, can impede 100% recovery.
There is no known relationship between sample
recovery and grade. Drilling conditions have
been noted to be competent in historical
reports. FireFly core recovery averages >95%.
• FireFly does not believe that sample bias has
occurred due to preferential loss/gain of
fine/coarse material.
Logging • Whether core and chip samples have The following steps are completed during the core
been geologically and geotechnically logging procedure:
logged to a level of detail to support • Sample security and chain of custody start with
appropriate Mineral Resource the removal of core from the core tube and boxing
estimation, mining studies and of drill core at the drill site.
metallurgical studies. • The boxed core remains under the custody of the
• Whether logging is qualitative or
quantitative in nature. Core (or costean,
channel, etc) photography.		 • drill contractor until it is transported from the drill
to the secure onsite core facility.
Core boxes are opened and inspected to ensure
• The total length and percentage of the correct boxing and labelling of the core by the drill
relevant intersections logged. contractor.
• The core is meter marked, cleaned and oriented
with the orientation line drawn using the marks
form REFLEX ACT III core orientation tool.
• The drill core is geologically logged,
photographed, and then marked and tagged for
sampling and splitting.
• Core logging describes variations in lithology,
alteration, and mineralisation.
• Data associated with core logging and related
assay results and other downhole information
including orientation surveys are recorded in the
AcQuire database system.
• Measured parameters include structural
orientation with respect to core axis, lost core as a
percentage of recovered length, and fracture
density which are determined by the intensity and
thickness of mineralisation at specific intervals.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
• Each core sample is assigned a tag with a unique
identifying number. Sample lengths are typically
one metre but can be smaller depending on zone
mineralogy and boundaries.
• Sample core that is not mineralised is marked in
1.0 metre lengths.
• Wing samples are marked at 0.5 metres and
sampled at the extremities of mineralised intervals
to ensure anomalous grades do not continue into
the surrounding wall rock.
• 100% of the core is logged.
Sub-sampling • If core, whether cut or sawn and • FireFly drilling is NQ. A single drill hole was
techniques and whether quarter, half or all core taken. completed with a BQ tail.
sample • If non-core, whether riffled, tube • For NQ diameter the core was sawn in half
preparation sampled, rotary split, etc and whether following a sample cutting line determined by
sampled wet or dry. geologists during logging and submitted for
• For all sample types, the nature, quality analysis on nominal 1m intervals or defined by
and appropriateness of the sample geological boundaries determined by the logging
preparation technique. geologist.
• Quality control procedures adopted for • Historic diamond drilling has been half core
all sub-sampling stages to maximise sampled.
representivity of samples. • Samples are dried at approximately 60°C ,
• Measures taken to ensure that the crushed and pulverised. Samples are crushed in a
sampling is representative of the in-situ Rhino jaw crusher to approximately 80% -10mesh,
material collected, including for and split using a riffle splitter to approximately
instance results for field 250-300g. The remainder of the sample is bagged,
duplicate/second-half sampling. labelled and stored as coarse reject. A ring mill is
• Whether sample sizes are appropriate
to the grain size of the material being
sampled.		 used to pulverise the sample split to 95% passing -
150 mesh. Sample pulps are picked up at Eastern
Analytical by FireFly staff and returned directly to
the Project site.
• For pre-FireFly samples, sample preparation,
analytical procedures and QA/QC used on the
property were reviewed by independent
consultants WSP in 2018, stating in their report that
sampling practices meet industry standards and
display acceptable levels of accuracy and
precision.
• All core sampled in the prospective intervals when
required wing samples are marked from 0.5
metres up to 5m and sampled at the extremities
of mineralised intervals to ensure anomalous
grades do not continue into the surrounding wall
rock.
• No purpose lab audit has been completed. FireFly
personnel have visited the Eastern analytical
facilities on several occasions and observed that
lab practices and equipment overall cleanliness
meet industry standards.
• Pre-FireFly BQ core was entirely crushed for the
assays.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
• Field duplicates were completed using ¼ core and
inserted into the sample series at a rate of 2% of
samples. Analysis results were acceptable
considering the style of mineralisation being
heterogeneous with stockwork stringers of
chalcopyrite.
• Sample sizes are considered appropriate to the
grain size of the material being sampled.
Quality of assay • The nature, quality and appropriateness
•		 All FireFly and Rambler Metals and Mining PLC
data and of the assaying and laboratory (Rambler) results reported in this announcement
laboratory tests procedures used and whether the were analysed by Eastern Analytical in Springdale,
technique is considered partial or total. NL.
• For geophysical tools, spectrometers, • 34 elements were determined by Inductively
handheld XRF instruments, etc, the Coupled Plasma (ICP). A 200mg subsample is
parameters used in determining the totally dissolved in four acids and analysed by
analysis including instrument make and ICP-OES.
model, reading times, calibrations • Ore grade elements, Cu, Zn, Pb, Fe and Ag are
factors applied and their derivation, etc. dissolved via 3 acid digestion and analysed by
• Nature of quality control procedures atomic adsorption (AA).
adopted (eg standards, blanks,
duplicates, external laboratory checks)		 • Gold assays were determined by fire assay with
atomic adsorption finish.
and whether acceptable levels of
accuracy (i.e. lack of bias) and
precision have been established.		 • As part of the QA/QC program duplicate, blank
and Certified Reference Material (CRM) samples
are inserted alternately. Blanks are inserted one
every 50 samples. CRMs are inserted every 20
samples. Field duplicates are taken approximately
one every 40 samples. Blanks and CRMs are also
randomly inserted in zones of suspected high
grades. The minimum insertion rate for CRMs is 5%,
which FireFly adheres to. Historical data collected
by Rambler was also subject to a similar rigorous
QA/QC regime.
• In addition to the Company QAQC samples
(described earlier) included within the batch the
laboratory included its own CRMs (Certified
Reference Materials), blanks and duplicates.
• Sample assay results continue to be evaluated
through control charts, log sheets, sample logbook
and signed assay certificates to determine the
nature of any anomalies or failures and failures
were re-assayed at the laboratory.
Verification of • The verification of significant • FireFly routinely sends sample pulps for
sampling and intersections by either independent or independent umpire lab check to SGS laboratory
assaying alternative company personnel. in Burnaby. Results correlate very well with Eastern
• The use of twinned holes. Analytical results.
• Documentation of primary data, data • There are no purpose twinned holes in the dataset
entry procedures, data verification, data but a comparison of the results of different drilling
storage (physical and electronic) generations showed that results were
protocols. comparable.
• Discuss any adjustment to assay data. • FireFly logging data, assay certificates and other
relevant information are stored in an AcQuire
database and on a site server.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
• All pre-FireFly logging data was completed, core
marked up, logging and sampling data was
entered directly into an MX deposit or Fusion
database.
• FireFly has not adjusted assay data and is not
aware of any adjustments made by Rambler to
the assay data. WSP completed an independent
audit in 2018 where a representative number of
assay certificates were compared to digital assay
database and no discrepancies were found.
Location of data • Accuracy and quality of surveys used to
•		 Drill collars were surveyed by the FireFly mine
points locate drill holes (collar and down-hole survey crew upon completion of the drill program.
surveys), trenches, mine workings and • The set-ups for the underground drill collars were
other locations used in Mineral Resource marked by the FireFly mine survey crew, and the
estimation. drilling contractor was expected to set up properly
• Specification of the grid system used. on line. A FireFly geologist checked the
• Quality and adequacy of topographic underground drill set-up during the drilling
control. program to ensure accuracy.
• Downhole surveys are completed using a Reflex
Sprint IQ gyro multi-shot instrument to provide
azimuth and dip reading down the hole. The Reflex
Sprint IQ gyro instrument is calibrated at least
once a year to ensure accuracy of results.
• Previous drilling has been set-out and picked up in
both national and local grids using a combination
of GPS and Survey instruments and are assumed
to be to industry standards. Directional surface
holes completed using Devico® technology.
• The underground development has been picked
up by surveyors creating high confidence in the
topographic control which drill holes, both
historical and recent, are referenced against.
• Collar coordinates are recorded in local mine grid.
Survey data was collected in mine grid and in UTM
grid (NAD83 Zone 21).
• Topographic control is from Digital Elevation
Contours (DEM) 2019 and site surveyed DGPS
pickups, which is considered adequate.
Data spacing and
•		 Data spacing for reporting of Exploration
•		 Spacing for the exploration data reported in this
distribution Results. announcement is variable. Most of the results are
• Whether the data spacing, and infill drilling, and intersections are typically less
distribution is sufficient to establish the than 90m from another drill hole.
degree of geological and grade • The data spacing and distribution is considered
continuity appropriate for the Mineral sufficient to establish geological and/or grade
Resource and Ore Reserve estimation continuity.
procedure(s) and classifications • The data will be incorporated into future Mineral
applied. Resource updates. Appropriate Mineral Resource
• Whether sample compositing has been classifications will be applied at that time.
applied. • Core is sampled to geology contacts; sample
compositing is not applied until the estimation
stage.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Orientation of • Whether the orientation of sampling • Underground drill hole orientation for FireFly holes
data in relation to achieves unbiased sampling of possible reported in this announcement was sub-
geological structures and the extent to which this is perpendicular to the mineralisation. Mineralised
structure known, considering the deposit type. intersections are approximate true width unless
• If the relationship between the drilling otherwise noted.
orientation and the orientation of key • Historically this has been variable in places where
mineralised structures is considered to low angle drilling to the mineralisation has been
have introduced a sampling bias, this completed in zones without suitable drilling
should be assessed and reported if platforms.
material. • No material sampling bias is considered to have
been introduced by the relationship between the
drilling orientation and the orientation of key
mineralised structures.
Sample security • The measures taken to ensure sample • Core was placed in wooden core boxes close to
security. the drill rig by the drilling contractor. The core was
collected daily by the drilling contractor and
delivered to the secure core logging facility on the
Ming Mine site. Access to the core logging facility
is limited to FireFly employees or designates.
Audits or reviews • The results of any audits or reviews of • Regular reviews of DD sampling techniques are
sampling techniques and data. completed by Senior Geologists and Resource
Geologists and conclude that sampling
techniques are satisfactory and industry
standard.
• All recent FireFly sample data has been extensively
QAQC reviewed internally and externally.
• Pre FireFly data audits were conducted as part of
NI-43-101 resource estimation by independent
consultants WSP in 2018. It was WSP’s opinion that
the drilling, sampling and logging procedures put
in place by Rambler met acceptable industry
standards and that the information can be used
for geological and resource modelling.

Section 2 - Reporting of Exploration Results (Criteria in this section apply to all succeeding sections)

Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Mineral tenement
•		 Type, reference name/number, location • FireFly owns a mineral land assembly consisting of
and land tenure and ownership including agreements or one map-staked mineral license (023175M) and
status material issues with third parties such two mining leases (141L and 188L) totalling 955.4
as joint ventures, partnerships, ha and registered in the name of FireFly Metals
overriding royalties, native title interests, Canada Limited, a wholly owned subsidiary of
historical sites, wilderness or national FireFly Metals Limited. All of these mineral lands
park and environmental settings. are contiguous and, in some cases, overlapping
• The security of the tenure held at the and are located in the area of the former Ming
time of reporting along with any known and Ming West mines. In early 2015 the mineral
impediments to obtaining a license to license 023175M replaced the original license
operate in the area. 014692M by claim reduction as requested by
Rambler. All lands are in good standing with the
Provincial Government,and FireFlyis upto date

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
with respect to lease payments (for leases) and
required exploration expenditure (for licenses).
• FireFly holds all the permits required to operate
the Ming Mine at its historic production rate.
Exploration done • Acknowledgment and appraisal of • Ming Mine Early History: Auriferous sulphides and
by other parties exploration by other parties. copper were found in the area in 1905 by Enos
England.
• The Main Mine sulphide zone was found in 1935
about 600ft north of the Enos England discovery. In
1940, the Newfoundland government drilled 18
diamond drill holes totalling 5,000ft.
• An airborne electromagnetic survey was flown
from 1955 to 1956.
• The Ming Mine was discovered in 1970 by a
helicopter borne AEM system. A large low grade
stringer type copper deposit was later discovered
in the footwall 300ft to 500ft below the Ming
mineralisation during mining operations and
delineated by 36 diamond drill holes. Mining
ceased at the Ming Mine in 1982 because of low
copper prices.
• In 1988, the property was awarded to the Rambler
Joint Venture Group (a Consortium of Teck
Exploration, Petromet Resources Ltd, and
Newfoundland Exploration Company Ltd).
Exploration consisted of ground geophysics and
soil geochemistry, resulting in discovery of the
Ming West deposit. 48 diamond drill holes
(25,534ft) were completed.
• Altius Minerals Corporation: Under the terms of an
option to purchase agreement with Ming Minerals,
Altius conducted exploration on the Rambler
property in 2001, 2003, and 2004. In 2001, a litho-
geochemical program was initiated to chemically
fingerprint rocks of the hanging wall and footwall
to the sulphide deposits.
• Rambler Metals and Mining PLC: Rambler Metals
and Mining is a UK-based company listed on
London’s Alternate Investment Market (AIM).
Rambler held a 100% interest in the Ming property
and between 2005 and 2023 and conducted a
multi-phase diamond drilling program consisting
of surface drilling, directional drilling, and
underground delineation drilling. A total of
220,704m from 1,365 diamond drill holes were
completed by Rambler. Between 2012 and 2022
the Ming Mine produced 3Mt at 1.86% Cu and 0.71%
Au for total of 55Kt of copper and 68Koz of gold.
• The Ming Mine was placed on care and
maintenance in February 2023.
• In October 2023, AuTECO Minerals Ltd (now FireFly
Metals Ltd) acquired the project from the
administrator.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
• FireFly conducted drilling to test down plunge
extent of VMS lodes.
• An underground exploration drive is in progress to
allow further drilling at more favourable drill
angles.
Geology • Deposit type, geological setting and • The Green Bay project is a Noranda-type
style of mineralisation. Volcanogenic Massive Sulphide (VMS) hosted by
Cambrian-Ordovician metavolcanic and
metasedimentary rocks of the Pacquet Harbour
Group. The style of mineralisation, alteration, host
rock, and tectonism most closely resembles other
VMS deposits throughout the world. The deposit
consists of several individual massive sulphide
lens and their underlying stockwork zones. It is
thought that the stockwork zone represents the
near surface channel ways of a submarine
hydrothermal system and the massive sulphide
lens represents the accumulation of sulphides
precipitated from the hydrothermal solutions, on
the sea floor, above and around the discharge
vent. The Ming deposits are polymetallic (Cu, Au,
Ag ± Zn) massive sulphides that occur along the
flank of a felsic dome. The Ming deposits have
undergone strong deformation and upper
greenschist to amphibolite facies metamorphism.
The massive sulphide bodies are now thin and
elongate down the plunge of the regional lineation
(30-35ºNE). Typical aspect ratios of length down-
plunge to width exceed 10:1, and the bodies exhibit
mild boudinage along the plunge. The foot wall
stock work comprises mainly of quartz-sericite-
chlorite schist, which hosts disseminated and
stringer pyrite and chalcopyrite with minor
sphalerite, galena, and pyrrhotite with locally
significant gold contents that could represent a
discordant stockwork stringer feeder zone. The
mineralisation is crosscut by younger mafic dykes.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Drill hole • A summary of all information material • Refer to Appendix B in this announcement
Information to the understanding of the exploration
results including a tabulation of the
following information for all Material drill
holes:
o
easting and northing of the drill hole
collar
o
elevation or RL (Reduced Level –
elevation above sea level in meters)
of the drill hole collar
o
dip and azimuth of the hole
o
down hole length and interception
depth
o
hole length.
• If the exclusion of this information is
justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly
explain why this is the case.
Data aggregation
•		 In reporting Exploration Results, • All drill hole intersections are reported above a
methods weighting averaging techniques, lower cut-off grade of 1% copper or 0.5g/t gold. A
maximum and/or minimum grade maximum of 6m of internal waste was allowed.
truncations (eg cutting of high grades) • For samples of varying lengths, a length-weighted
and cut-off grades are usually Material average is applied for the reported intersection.
and should be stated. The formula is ((Cu grade % x sample
• Where aggregate intercepts length)/Total Interval Width). The weighted
incorporate short lengths of high-grade average of the intersection must exceed the cut-
results and longer lengths of low-grade off grades stated above. Minimum sampling
results, the procedure used for such interval of 0.5m is enforced. Geological contacts
aggregation should be stated and are enforced in sampling and frequently provide
some typical examples of such boundaries for intersections due to grade
aggregations should be shown in detail. associated with varying lithotypes. Maximum
• The assumptions used for any reporting internal dilution of 6m below the cut-off grade is
of metal equivalent values should be incorporated into the reported intersections,
clearly stated. stopping smearing of narrow high grades over
broad distances. Consideration is also given to
potential minimum mining widths as part of the
test for prospects of eventual economic
extraction.
• An example of the calculation is from hole
MUG24_060, from 191.7m:
Sample 1: Length - 0.5m; Grade - 1.8% Cu
Sample 2: Length - 0.75m; Grade – 0.08% Cu
Sample 3 Length – 1.05m; Grade – 2.02% Cu
Sample 4: Length – 1.05m; Grade – 2.42% Cu
Sum of Lengths / Intersection width - 3.35m
Intersection grade is:
((0.5x1.8) + (0.75x0.08) + (1.05x2.02) +
(1.05x2.42))/3.35 = 1.68%

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
The competent person determined to include of
the 0.75m @ 0.08% Cu in the intersection because
in a mining scenario, it is unlikely that this internal
dilution could be separated.
• Metal equivalents for the drilling at the Green Bay
Project have been calculated at a copper price of
US$8,750/t, gold price of US$2,500/oz, silver price
of US$25/oz and zinc price of $2,500/t. Individual
grades for the metals are set out in Appendix B of
this announcement.
• The following metallurgical recovery factors have
been applied to the calculation of metal
equivalents:
-
Copper: 95%
-
Gold/Silver: 85%
-
Zinc: 50%
• Recovery factors applied are based on historical
processing of Ming ore at Nugget Pond and future
processing plant configurations based on
historical metallurgical test work.
• It is the Company’s view that all elements in the
copper equivalent calculation have a reasonable
potential to be recovered and sold.
• Copper equivalent was calculated based on the
formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) +
(Ag(g/t) x 0.00822) + (Zn(%) x 0.15038)
Relationship • These relationships are particularly • All intersections reported in the body of this
between important in the reporting of Exploration announcement are down hole, however they
mineralisation Results. approximate the true thickness of mineralisation.
widths and • If the geometry of the mineralisation • The majority of the drill holes in the database are
intercept lengths with respect to the drill hole angle is drilled as close to orthogonal to the plane of the
known, its nature should be reported. mineralized lodes as possible. A number of drill
• If it is not known and only the down hole holes have intersected the mineralisation at high
lengths are reported, there should be a angles.
clear statement to this effect (eg ‘down • Only down hole lengths are reported, however all
hole length, true width not known’). holes are drilled ~perpendicular to the known
trend of mineralisation.
Diagrams • Appropriate maps and sections (with • Maps and sections are included in the body of this
scales) and tabulations of intercepts announcement as deemed appropriate by the
should be included for any significant competent person.
discovery being reported These should • Plan view of drill holes reported in this
include, but not be limited to a plan view announcement is presented following this table.
of drill hole collar locations and
appropriate sectional views.
Balanced • Where comprehensive reporting of all • All significant assays (above a 1% copper or 0.5g/t
reporting Exploration Results is not practicable, gold cut-off and containing a maximum of 6m of
representative reporting of both low and internal waste) received from the current drill
high grades and/or widths should be program have been reported in Appendix B.
practiced to avoid misleading reporting
of Exploration Results.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Other • Other exploration data, if meaningful • Appropriate plans are included in the body of this
substantive and material, should be reported announcement.
exploration data including (but not limited to): geological
•		 Underground Downhole Electromagnetics (DHEM)
observations; geophysical survey was completed by Southern Geoscience & Eastern
results; geochemical survey results; bulk Geophysics Ltd. See ASX announcement dated 7
samples – size and method of May 2025 for further technical details on the DHEM
treatment; metallurgical test results; surveys.
bulk density, groundwater, geotechnical
and rock characteristics; potential
•		 The TX surface loop size was 1km x 1km
deleterious or contaminating
substances.
Further work • The nature and scale of planned further • FireFly will be conducting drill testing of additional
work (e.g. tests for lateral extensions or mineralisation as well as step-out drilling of
depth extensions or large-scale step- existing lodes to further enhance the Mineral
out drilling). Resources quoted in this announcement. More
• Diagrams clearly highlighting the areas information is presented in the body of this
of possible extensions, including the announcement.
main geological interpretations and • Diagrams in the main body of this announcement
future drilling areas, provided this show areas of possible Mineral Resource extension
information is not commercially on existing lodes. The Company is mining an
sensitive. exploration drive to enable effective drill testing of
down plunge extensions.

Plan view of drilling in this announcement

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