FireFly Metals Ltd. — Investor Presentation 2009

Sep 3, 2009

Investor Presentation 4 September 2009

Forward Looking Statements

“These materials include forward looking statements. Forward looking statements inherently involve subjective judgement and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside of the control of, and may be unknown to, the Company. Actual results and developments may vary materially from those expressed in these materials. The types of uncertainties which are relevant to the Company may include, but are not limited to, commodity prices, political uncertainty, changes to the regulatory framework which applies to the business of the Company and general economic conditions. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements.

Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or any change in events, conditions or circumstances on which any such statement is based.”

Competent Person Statement

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 2004 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.

ASX Code – MOX Shares on Issue – 70,647,057 Unlisted Options – 4,325,000 Market Capitalisation - $4.9 million

Shareholders – 1,459 Top 20 - 53.3%

Monax Board

Robert Kennedy - Chairman Dr Neville Alley – Non Exec Director Reg Nelson – Non Exec Director Glenn Davis – Non Exec Director Gary Ferris – Managing Director

Virginia Suttell – Company Secretary

• Eligible Shareholders will be offered SPP Shares at a price of $0.075 per share

• Eligible Shareholders are being offered the opportunity to purchase up to $15,000 worth of Shares

• Price represents approximately 16% discount from VWAP traded over 5 business days prior to date of announcement and a 25% discount to the last trading day prior to announcement

Indicative Timetable

Opening Date for receipt of Applications 23 September 2009 Closing Date for receipt of Applications 2 October 2009 Date of Issue of Shares 9 October 2009 Anticipated Date of Quotation of Shares 13 October 2009

Iron Oxide Copper-Gold Melton

• JV with Marmota Energy

• Located along the Pine Point Fault immediately north of Rex Minerals copper-gold-uranium discovery

• Detailed aeromagnetic survey to better define drill targets commenced

Punt Hill

• Large copper mineralisation zone defined

• Only limited drilling to date

• More detailed gravity planned to produce further drilling targets

Manganese/Iron Ore

Waddikee

• Up to 54.1% Mn in rock chips & 40km + prospective mineralised horizon defined

• JV with manganese producer OM Holdings

Gold/Base Metals

Parndana

• Quartz vein hosted gold mineralisation identified in rock chips up to 31.5 g/t Au – Drilling Planned for late 2009

Melton – Yorke Peninsula

• Monax recently signed a JV with Marmota Energy for EL 4000 & EL 3911

• Located along the northern extension of the Pine Point Fault

• Exploration by Rex Minerals south of Melton has reported thick intersections of copper, gold and uranium

• Significant intersections at Hillside Prospect include:

• 259m @ 1.7% Cu & 0.4 g/t Au (HDD018 from 205m)

• • 200m @ 1.0% Cu & 0.2 g/t Au (HDD033 from 140m)

• Anomalous uranium reported in several holes

• High-resolution aeromagnetic survey commenced on August 31 – due to be completed mid-September

• Gravity survey planned for late 2009 after grain harvest

Key Geological Ingredients

• Donington Suite host – similar to Olympic Dam and Carrapateena

• Gawler Range Volcanics/Hiltaba Suite Granite are present

• Crustal scale fault/shear zones favourable for mineralisation

• Hydrothermal fluids – large alteration and mineralised zone defined

• Mineralising systems – significant intersections of copper and base metals

Groundhog Prospect

• 7 holes drilled to date – incl. 159m @ 0.47% Cu, 5.3 g/t Ag, 0.12 g/t Au, 0.48% Zn & 0.12% Pb

• Residual gravity anomaly with strong NW with lesser SE structural control

• Late IOCG style alteration and mineralisation

• Early oxidised gold skarn style alteration

• Replacement style mineralisation but potential high grade structurally controlled zones

• Sedimentary, volcanic and granite host

Proximity to Carrapateena

• Over 50 holes drilled into the Carrapateena prospect.

• Two main intersections reported .

• from Carrapateena

• Hole 2 (Discovery 1) = 355m @ 1.25% Cu and 0.5 g/t Au

• Hole 50 (Discovery 2) = 905m @ 2% Cu and 1 g/t Au

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Teck Cominco, 2007
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Planned Exploration Program

• Infill gravity program planned for seven prominent regional gravity targets to better define drill targets

• Targeting area to the northwest – zone of shallower basement

• Monax is currently undertaking a review of existing projects and options available to fund future exploration. One option currently being discussed is a Joint Venture on Punt Hill to assist with future drilling program

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Gravity Targets not
Yet tested
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Waddikee

• Rock chip sampling has produced assays of up to 60% iron, 54.1% manganese and 1.13% vanadium pentoxide

• First pass drilling program (2955m) intersected highly encouraging manganese mineralisation (up to 34% Mn) at the Jamieson Tank and Pollinga Prospects

• Beneficiation test work demonstrated upgrading to 42.4% Mn product with 88% recovery

• Tenement position covers 1000 km[2 ] with more than 80km of interpreted strike length of prospective manganese and banded iron formation

• Located in the same province as the OneSteel and Centrex Metals deposits and existing infrastructure

Joint Venture – OM Holdings

• OMM can earn a 60% interest in all ferrous minerals (manganese and iron) by funding exploration expenditure to the value of $2 million

• During the farmin period, Monax will manage exploration

• Eyre Peninsula hosts iron deposits at Middleback Ranges (OneSteel), Wigerup (Centrex Metals), Gum Flat (Lincoln Minerals), Wilcherry (Iron Clad) and Warramboo (Iron Road)

• Waddikee Project – well placed to become next significant project within the region

Manganese rich sample (43.8% Mn) – Jamieson Tank Prospect

Gold – Kohinoor Mine

• Historic gold mine

• Preliminary rock chip sampling has reported gold up to 31.5 g/t

• Soil sampling has highlighted two further zones of gold and copper anomalism

• Diamond drill hole under the old workings intersected 2m @ 2.59 g/t.

• Re-evaluation of drilling after mapping the underground workings has shown that the drill hole did not intersect the main lode

• Underground mapping has provided Monax with greater understanding of the complex vein system and allowed better targeting for planned drilling program

• Four other areas of known gold mineralisation outlined for further

Base Metals – Bonaventura Prospect

• Previous drilling has reported high-grade intersections ranging in thickness from 2-30m downhole with maximum values of 26.9% Zn, 9.4% Pb and 8.3 g/t Ag

• Best drill hole intersections are:

• 5m @ 26.9% Zn & 1% Pb (Havilah)

• 5m @ 5.8% Zn (PIRSA)

• 10m @ 3.22% Zn & 1.62% Pb (Monax)

• Monax recently completed an 8 diamond hole drilling program

• Evaluation of the recent and historical drilling program had led to the construction of a 3D model which will greatly assist future drilling programs aimed at targeting the high-grade ore shoots

• Further drilling planned to test 3D model

Discover 3D model of Zinc (red) and Lead (green) high-grade shoots

• Monax owns 29.8% of Marmota, valued at $2.975 million (@8.5 cents/share)

• Marmota has a strong cash position of ~$8.45 million (as of June 30 2009)

• Farmin signed with manganese producer OM Holdings for manganese and iron on Waddikee project located on the Eyre Peninsula

• Joint Venture with Marmota Energy on Melton Project located along the northern margin of the Pine Point Fault which contains significant intersections of copper and gold

• Drilling planned for late 2009 on Kohinoor Gold Project to follow-up on promising rock chip results

• Infill gravity planned to define further drilling targets at Punt Hill