FireFly Metals Ltd. — Investor Presentation 2012

Nov 19, 2012

==> picture [721 x 68] intentionally omitted <==

==> picture [361 x 47] intentionally omitted <==

Waddikee Project “Exploring for black gold On Eyre Peninsula” Mining South Australia Presentation 20 November 2012 G F is ary err Managing Director

==> picture [361 x 23] intentionally omitted <==

==> picture [361 x 47] intentionally omitted <==

==> picture [361 x 22] intentionally omitted <==

==> picture [361 x 69] intentionally omitted <==

==> picture [361 x 47] intentionally omitted <==

==> picture [361 x 22] intentionally omitted <==

==> picture [361 x 69] intentionally omitted <==

==> picture [361 x 68] intentionally omitted <==

Graphite

Manganese

Iron

==> picture [127 x 28] intentionally omitted <==

==> picture [127 x 28] intentionally omitted <==

==> picture [121 x 28] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

Disclaimer

==> picture [721 x 65] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

Forward Looking Statements

'The following presentation includes 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.'

==> picture [721 x 5] intentionally omitted <==

Competent Person Statement

The information in this presentation 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.

Corporate Snapshot

Directors/Executives Bob Kennedy Non-Executive Chairman Gary Ferris Managing Director Glenn Davis Non-Executive Director Virginia Suttell Company Secretary

Profile

Head Office: Unit i, 5 Butler Blvd, Burbridge Business Park, SA 5950

Vision: To become a mining company via discovery and partnerships with major exploration, resources development, investment and mining companies.

Strategy: To make a world-class discovery at its flagship Punt Hill copper-gold project in SA, and identify and secure high quality asset positions that are either stand-alone 'company makers' or will be attractive to majors.

==> picture [321 x 25] intentionally omitted <==

==> picture [321 x 68] intentionally omitted <==

Cash : As at 30 September 2012, $2.9 million

Share Details
Total shares on Issue	149,514,803
Market Caitalisation	$76 million
p	.
Share price at 19/11/12	5.1 cents
Top Twenty	34.7%

Waddikee Project

• Located on central Eyre Peninsula

==> picture [431 x 69] intentionally omitted <==

• Large landholding ~1000km[2]

==> picture [431 x 68] intentionally omitted <==

• Geology: Palaeoproterozoic Hutchinson Group metasediments

==> picture [431 x 69] intentionally omitted <==

• Pros ective for: p

==> picture [431 x 68] intentionally omitted <==

• Graphite

• Iron

• Man anese g

==> picture [721 x 65] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

==> picture [721 x 64] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

Waddikee Project – Manganese & Iron

• Waddikee contains historical iron and manganese prospects

• Detailed magnetic data acquired by Monax clearly shows the linear banded iron formations of the Hutchinson Group

• Reconnaissance surface sampling by Monax showed high-grade manganese and highly encouraging iron results

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

----- Start of picture text -----

Waddikee
Detailed magnetic
image
----- End of picture text -----

Waddikee Project – Manganese

Why Manganese?

• Mn is the 12[th] most abundant element in the Earth’s crust

• High-grade deposits rare

• Mn is a non-substitutable component of the steel making process

==> picture [419 x 64] intentionally omitted <==

==> picture [419 x 68] intentionally omitted <==

• 90% of Mn produced used to make steel

• Acts as the glue to harden iron and make it less brittle

• High price 2007/2008

• Only 3 operating mines in Australia (Groote Eylandt , Woodie Woodie and Bootu Creek)

• Relative low cost capital cost for development

==> picture [351 x 7] intentionally omitted <==

==> picture [351 x 257] intentionally omitted <==

----- Start of picture text -----

48.2% Mn
----- End of picture text -----

Waddikee Project – Manganese

• Manganese crops out in the Jamieson Tank area with the best exposure at Cultivator Hill

• Initial rock chip sampling showed Mn up to 43.8% Mn at Jamieson Tank

• Drilling by Monax at Jamieson Tank shows Mn is present up to 5km in strike length with several zones outlined

• Best manganese drilling results include: • 13 m @ 16 . 1% M n (JTRC069 25 - 38 m ) • 11m @ 15.8% Mn (JTRC032 4-15m)

• 13m @ 13.9% Mn (JTRC121 16-32m)

• 7m @ 18.0% Mn (JTRC034 14 21m)

• 9m @ 13.7% Mn (JTRC089 16-25m)

• 6m @ 16% Mn (JTRC053 13-19m)

• 6m @ 15.9% Mn (JTRC067 25-31m)

---

• 7 m @ 15 . 2% M n (30 37 m ) & 6 m @ 12 . 5% M n (23 29 – PRC03)

• 52m @ 21.2% Mn (HRC05)

(note – samples combination of 1m, 2m and 4m composites. Intersections calculated by averaging 1m, 2m & 4m samples. All lengths are downhole lengths, true width unknown. Assays done by Genalysis using XRF method. JTRC = Jamieson Tank; PRC = Polinga & HRC = Hodgins)

Waddikee Project – Manganese

• Two samples from Jamieson Tank submitted for beneficiation testing with up to 42.5% Mn reported with good recoveries via heavy liquid separation

• X-Ray diffraction showed the dominant manganese mineral present is Cryptomelane (KMn8O16)

• Sieve screen sizing showed that the majority of the manganese is distributed within the coarse fractions (>0.2mm)

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

Waddikee Project – Manganese

• Drilling at Jamieson Tank shows good continuity of manganese along strike

• A reas rema n un i d r ill e d a ong wes ern l t side of area

• Latest exploration comprised IP surveys

• IP failed to provide high quality drill t arge s ue o g t d t hi h con d uc ti v it y w ithi the area

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

Waddikee Project – Manganese

• Gradient Array Induced Polarisation (GAIP) data for Jamieson Tank and Polinga was unsuccessful in assisting with locating further zones of manganese

• Northern area at Polinga was relatively thick zone -

• of low grade graphite

==> picture [247 x 201] intentionally omitted <==

----- Start of picture text -----

Jamieson Tank
----- End of picture text -----

==> picture [721 x 271] intentionally omitted <==

----- Start of picture text -----

•
Zones of high-
chargeability at
Polinga
Jamieson Tank
interpreted to be due
to presence of
graphite
----- End of picture text -----

Waddikee Project ‐ Iron

• Initial rock chip sampling by Monax in 2008 showed encouraging results for iron on the Waddikee tenement

• These results not yet followed up due to the discovery of manganese at Jamieson Tank

• (Note: assays done by Genalysis using XRF method – originally reported ASX Release 8 March 2008. Coordinates MGA Zone 53, GDA94)

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

----- Start of picture text -----

Sample 5030 59.5% Fe
----- End of picture text -----

Waddikee Project ‐ Iron

• All drilling designed to test for manganese

• However, samples submitted for iron analyses

• Best iron drilling results include:

• 44m @ 34.6% Fe (PRC01 25-69m)

• 20m @ 33.8% Fe (JTRC042 20-40m)

• 34m @ 35.6% Fe (JTRC166 4-38m)

• 25m @ 28.4% Fe (JTRC014 54-79m)

• 11m @ 46.6% Fe (PRC010 13-24m)

• 12m @ 33 . 8% Fe (JTRC012 18 30)

• 17m @ 33.3% Fe (JTRC041 9-26m)

• 23m @ 32.0% Fe (JTRC054 2-25m)

• 12m @ 33.6% Fe (PRC010 34-46m)

• 20m @ 31.9% Fe (JTRC043 43-63m)

• (Note: samples combination of 1m, 2m and 4m composites. Intersections calculated by averaging 1m, 2m & 4m samples. All lengths are downhole lengths, true width unknown; assays done by Genalysis using XRF method ) .

• Review of drilling shows that holes are not located on ma j or ma g netic features

==> picture [721 x 69] intentionally omitted <==

Waddikee Project ‐ Iron

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 271] intentionally omitted <==

----- Start of picture text -----

Detailed ground
magnetic data
Legend
+ Monax iron rock chip samples
2012 Graphite holes
All Manganese drill holes
----- End of picture text -----

Waddikee Project –Iron

Iron Magnetite( ) Potential

==> picture [421 x 69] intentionally omitted <==

----- Start of picture text -----

Model Viewer image showing high magnetic
intensity shells (red)
----- End of picture text -----

• TMI data shows 3 major magnetic features at Francis, Polinga and Jamieson Tank

==> picture [421 x 68] intentionally omitted <==

• These areas are very prominent on modeling of the aeromagnetic data

==> picture [299 x 12] intentionally omitted <==

==> picture [721 x 339] intentionally omitted <==

----- Start of picture text -----

Polinga
Francis
Jamieson Tank
Note: This figure represents a geophysical model. The potential quantity and grade of an
exploration target is conceptual in nature since there has been insufficient work completed to
define the prospects as an y thin g be y ond exploration tar g ets. It is uncertain if further
exploration will result in the determination of a Mineral Resource.
----- End of picture text -----

Waddikee Project – Graphite

• Gradient Array Induced Polarisation (GAIP) data for Jamieson Tank and Polinga was unsuccessful in assisting with locating further zones of manganese

• Northern area at Polinga was relatively thick zone -

• of low grade graphite

==> picture [247 x 201] intentionally omitted <==

----- Start of picture text -----

Jamieson Tank
----- End of picture text -----

• Z ones o f hi g h chargeability at Jamieson Tank inter reted to be due p

• to presence of graphite

==> picture [721 x 271] intentionally omitted <==

----- Start of picture text -----

-
Z ones o f hi g h
chargeability at
Polinga
Jamieson Tank
inter reted to be due
p
to presence of
graphite
----- End of picture text -----

Waddikee – Graphite Prospects

==> picture [721 x 65] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

==> picture [721 x 64] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

==> picture [721 x 65] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

Surface Samples

• Coarse flake graphite

Drilling rogramP

==> picture [309 x 68] intentionally omitted <==

==> picture [200 x 68] intentionally omitted <==

• Completed

==> picture [200 x 22] intentionally omitted <==

==> picture [199 x 22] intentionally omitted <==

==> picture [721 x 64] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

Background – AEM (red = high conductivity = graphite targets)

Waddikee – Maiden Graphite Drilling Program

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

Background – AEM (red = high conductivity = graphite targets)

Waddikee – Maiden Graphite Drilling Program

==> picture [373 x 69] intentionally omitted <==

Wilclo South Prospect

• Prominent surface outcrop (only discovered during drilling program)

==> picture [373 x 68] intentionally omitted <==

• Surface sample – high-grade, coarse fl a k hit 22 . 9% t o a t l e grap e assay = (

• graphitic carbon –TGC)

==> picture [373 x 69] intentionally omitted <==

• Drilling showed high grade graphite occurs to at least 100m below surface

==> picture [379 x 68] intentionally omitted <==

• Good intersections reported in two holes

==> picture [379 x 69] intentionally omitted <==

• Sample from surface outcrop and selected drill hole samples submitted for beneficiation testing

==> picture [379 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

Waddikee – Maiden Graphite Drilling Program

Wilclo South Prospect

==> picture [278 x 69] intentionally omitted <==

• Beneficiation results due soon

==> picture [278 x 68] intentionally omitted <==

• Petrology from outcrop and drill holes shows coarse flake graphite up to 2mm in length with and average size >0.5mm.

==> picture [278 x 69] intentionally omitted <==

==> picture [445 x 25] intentionally omitted <==

==> picture [721 x 64] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

==> picture [721 x 65] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

==> picture [721 x 64] intentionally omitted <==

==> picture [721 x 5] intentionally omitted <==

==> picture [445 x 69] intentionally omitted <==

Beneficiation testing Wilclo South outcrop sample

Waddikee – Maiden Graphite Drilling Program

Lacroma Prospect

==> picture [499 x 23] intentionally omitted <==

==> picture [499 x 22] intentionally omitted <==

==> picture [499 x 24] intentionally omitted <==

==> picture [499 x 23] intentionally omitted <==

• No surface graphite

• Previous drilling by WMC reported 70m of graphite

• Monax re-drilled WMC hole and intersected 60 m @ 6 . 8% T GC

==> picture [499 x 22] intentionally omitted <==

==> picture [499 x 23] intentionally omitted <==

• Need to chase this intersection closer to sur ace – con f d uc ti v it y shows layer dips to east

• Significant conductivity feature located further east – UNTESTED

==> picture [721 x 5] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

Waddikee – Graphite potential

Historical Ground EM survey – good correlation with AEM data Wilclo South anomaly – 2.2km strike length

==> picture [721 x 5] intentionally omitted <==

Francis West – better EM anomaly – 3.6km strike length

==> picture [721 x 47] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 68] intentionally omitted <==

==> picture [721 x 204] intentionally omitted <==

----- Start of picture text -----

Wilclo South
Anomaly over
Francis West
2.2km strike
Anomaly over
3.6km strike
“UNDRILLED”)
----- End of picture text -----

Waddikee – Argent Prospect

	Sample ID	Location	MGA_East	MGA_North	% C	Petrological Description
	52317	ARG1	631186	6298332	1.38
	52318	ARG2	631193	6298229	16.00	Foliated graphite, from 0.2mm to 1.5mm in crystal size, is common (~15%), with some kinked flakes and recrystallised areas with smaller graphite flakes (<
						0 2 l ) . mmong .
	52319	ARG3	631221	6298328	15.21	Graphite is less abundant compared to the previous sample, (5‐7%) with some kinking and shredding. Some areas have poorly oriented graphite flakes less than 0.4mm in grainsize, but other areas have more foliated graphite that is locally more than 1mm in crystal size.
	52320	ARG4	631238	6298254	19.81
	52321	ARG5	631235	6298342	13.21	There is more abundant and mostly recrystallised but foliated graphite in this sample than in the other two ARG samples, to 1.5 or 2mm in crystal size, with some kinked flakes, and small areas with bent or contorted flakes. There may bh2hiihihii
						e as muc as 0% grapte n ts tn secton area .
	28701	ARG4	631238	6298254	16.04
	28702	ARG4A	631238	6298254	10.24
	28703	ARG5	631235	6298342	13.06
	28704	ARG6	631143	6298247	11.45

==> picture [694 x 41] intentionally omitted <==

----- Start of picture text -----

ARG 2 ARG 3 ARG 5
----- End of picture text -----

Very Coarse Flake Graphite: field of view is 2mm x 3mm

Waddikee Project Summary & Conclusions

• Waddikee tenement highly prospective for graphite, manganese and iron

• Graphite current focus

• Promising drilling results from Wilclo South

• Drilling samples currently undergoing beneficiation testing – full results due soon

• Further drilling planned for Lacroma prospect & drilling planned for Argent and Francis West prospects

• Monax planning ground EM survey and further drilling at Wilclo South over the summer

• Monax compiling manganese and iron results to determine future exploration program – looking for potential JV partner

==> picture [721 x 5] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==

Monax Mining – Other Projects

Punt Hill Copper-Gold Project

==> picture [328 x 69] intentionally omitted <==

• Farm-in agreement with major Chilean copper producer – Antofagasta plc

• Major drilling commenced August 2012

• $60,000 PACE Grant

==> picture [328 x 68] intentionally omitted <==

• 75m @ 0.2% Cu in hole MMDD1

Monax | Antofagasta Strategic Alliance

• Four 'Ke y Pro j ect' areas Marla | Algebuckina | WGC | Kangaroo Island

• • First Designated Project approved – Algebuckina Project

==> picture [328 x 69] intentionally omitted <==

==> picture [328 x 68] intentionally omitted <==

Phar Lap IOCG Project

• Prominent Hill/Carrapateena IOCG style target

• Western margin of Mt Woods Inlier – hosts Prominent Hill

==> picture [328 x 69] intentionally omitted <==

• Drilling planned

Yorke Peninsula IOCG project

• Initial drilling at Melton reported 9m @ 1% Cu with associated silver and gold

==> picture [328 x 68] intentionally omitted <==

• Anomalous copper and gold reported from calcrete sampling at Melton

==> picture [721 x 69] intentionally omitted <==

==> picture [721 x 136] intentionally omitted <==

==> picture [391 x 68] intentionally omitted <==

==> picture [391 x 69] intentionally omitted <==

Thank You

==> picture [721 x 68] intentionally omitted <==

==> picture [391 x 69] intentionally omitted <==

Gary Ferris Managing Director P ( 08) 8375 3900 M 0423 259 488 E: gferris@monaxmining.com.au

==> picture [391 x 68] intentionally omitted <==

==> picture [721 x 69] intentionally omitted <==