FireFly Metals Ltd. — Investor Presentation 2010

Mar 17, 2010

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A Multi-Commodity Explorer With an Expanding Focus On South Australia & Queensland

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Investor Presentation March 2010

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Disclaimer
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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 o w f hi c h are ou s t id e o f th e con ro o , an t l f d may e un b k nown o, t th e ompany. c ua resu C A t l lt s an d 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 genera econom c con l i diti ons. Gi ven th ese uncer a n t i ti es, rea d ers are cau ti one d no t t o p ace un l d ue 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 un d er a t k e any o bli ga ti on o pu t bli c y up l d a e or rev se any o t i f th e orwar f d l oo ki ng s a emen s or any c t t t h ange in events, conditions or circumstances on which any such statement is based.”

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.

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Monax Projects – South Australia
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Monax Projects – South Australia

• 1 . Punt Hill – copper , gold

• Melton – copper, gold

• Waddikee – manganese, iron

• Kangaroo Island – zinc, lead, gold

• Mulyungarie - uranium

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Punt Hill Copper-Gold Project, SA
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• Drilling planned to commence mid 2010

• Publicised sale of Carrapateena (25 km from Punt Hill) has lifted insight into areas mineralisation

• Monax has commenced process of gaining site clearances in preparation for drilling

• M onax as app h li e d f or a new enemen t t located approximately 25 km west of Carrapateena

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Punt Hill Copper-Gold Project, SA
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Teck Cominco, 2007
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Carrapateena

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Punt Hill Copper-Gold Project, SA
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• Encouraging drill results in 20062008

• Evidence of extensive IOCG mineralisation at Groundhog Prospect

Drilling confirmed extensive IOCG indicators (bornite, chalcopyrite, gold , silver , zinc , rare earths) Scope for potential high-grade breccia zones similar to Carrapateena

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Gopher Target, Punt Hill
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• Two holes planned to test high-priority discrete Gopher target

• Detailed infill gravity survey completed

• Modeling suggests basement between 250 350m

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Melton Copper Gold Project, Yorke
Peninsula, SA
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• Maiden drilling program of 3 major targets launched this month

• Anomalies defined by aeromagnetic and gravity surveys

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Monax in joint venture with Marmota Energy
(ASX:MEU)
Miranda Target
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Location within highly prospective Pine Point
Fault Belt, immediately north of Rex Minerals
tenement containing Hillside Project
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Melton Copper Gold Project, Yorke
Peninsula, SA
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Rex Minerals Hillside Anomaly Source: ASX Release

North White Cliffs Anomaly

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North White Cliffs anomaly – similar internal magnetic zonation as seen at Hillside

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Waddikee Manganese Project, Eyre
Peninsula, SA
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Auger results
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Drilling planned to commence late April

• Farm in agreement with manganese producer , OM (Manganese) Ltd for $2 million of exploration funding

• Manganese is a non substitutable component of the steelmaking process

Six separate manganese horizons defined by geological mapping and sampling at Jamieson Tank prospect

5km strike length defined for prospective manganese horizons at Jamieson Tank

Manganese up to 50.61% reported from recent rock chip sampling

Project centrally located, between Wilgerup, Warramboo, Wilcherry Hill and Iron Duke iron mines/prospects

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Kangaroo Island Base Metals
& Gold Project, SA
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• Initial drilling program defined extensive zinc-lead mineralisation at Bonaventura prospect

• Further targets defined by detailed heli-mag survey this month

• IP survey to commence on March 22[nd] 2010

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Cape York Bauxite Project, Queensland
– New Play
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• Agreement deal signed with Delminco to explore 1358 km[2] of Cape York Peninsula

• • Application for further 3 tenements with extensive zones of potential bauxite

• • Exploration Agreements signed with Wik Way communities

• • Cape York is world-leading bauxite province with miners including Rio Tinto and Chinalco

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Proactive Exploration in Two States
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• Monax currently has ~$5 million in cash

• Exploration has commenced on all SA projects

• Melton – diamond drilling currently underway

• Punt Hill – Aboriginal clearance in preparation for drilling and new strategic Exploration Licence Application west of Carrapateena

• Waddikee – auger sampling completed; drilling planned or late April 2010 f

• Kangaroo Island – heli-mag survey completed; IP survey to commence 22[nd] March, 2010

• Cape York Bauxite Project - exploration to commence upon grant of tenements – anticipated in mid-2010

Monax Mining, Poised for Multi-Minerals Success

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