FireFly Metals Ltd. — Investor Presentation 2013

Nov 26, 2013

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Mining South Australia Presentation

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“Monax Exploration Update”

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27 November 2013

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Gary Ferris Managing Director

Disclaimer

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 l aw or any re evan l t s oc t k exc h ange li s ti ng ru es, l th e C ompany d oes no t un d er a t k e any o bli ga ti on t o pu bli c y l up d a e t or rev se i any o f 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 presentation that relates to Exploration Results 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.

Information in this presentation that relates to Mineral Resources was compiled by Ms Sharron Sylvester, who is a Member of the Australian Institute of Geoscientists (RPGeo 10125). Ms Sylvester is a full-time employee of AMC Consultants Pty Ltd and has sufficient ex p erience relevant to the st y les of mineralisation and to the activities which are bein g re p orted to q ualif y as a Com p etent Person as defined by the JORC Code, 2012 and consents to the release of the information compiled in this report in the form and context in which it appears.

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Corporate Snapshot

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

Profile

Exploration Office: Unit 2, 81 Harrison Road, Dudley Park, SA 5008

Vision: To move from explorer to producer via organic growth of current and acquired Cu-Au, Ni-Cu and graphite projects within South Australia.

Strategy: To concentrate efforts on the identification of worldclass exploration assets of IOCG, magmatic Ni-Cu and coarse flake graphite, thereby attracting developmental funding through JVs with major commodity houses.

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Cash : As at 30 September 2013, $1.04 million

Share Details
Total shares on Issue	150,214,803
Market Caitalisation	$38 million
p	.
Share price at 25/11/13	2.5 cents
Top Twenty Shareholders	37.9%

Waddikee Project – Location

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Located on Eyre Peninsula – “The Pilbara of Graphite”.

• Eyre Peninsula – current focus for Iron & Graphite.

Iron Projects include:

• W arram b oo ron oa R (I d)

• Wilgerup (Centrex Metals) Gum Flat (Lincoln Minerals) Iron Duke & others (Arrium)

• East coast deposits (Centrex & Eyre Iron JV’s) Wilcherry Hill – (Ironclad)

Graphite Projects include:

• Campoona & Sugarloaf Hill – Archer Exploration

• Koppio & Kookaburra Gully – Lincoln Minerals

• Uley – Valence Industres

• • Wil c o ou l S th – M onax Mi i n ng

Waddikee Project – Exploration History

• Initial focus was base metals , gold and uranium.

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• Discovery of high-grade manganese changed the focus to manganese and iron.

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• Monax had a JV with OM Holdings for manganese and iron.

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• During final phase of exploration, Monax undertook detailed induced polarisation surveys to outline manganese horizons.

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• Results failed to outline manganese but did show high chargeability which was due to graphite.

Waddikee Detailed magnetic image

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Projects & Investment Highlights

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Reviewing Options
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Waddikee Graphite Project – historical data

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Background image – airborne electromagnetic image – red = high conductivity

Waddikee Graphite Project – historical data

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Note all holes are vertical. Intersections represent downhole lengths, true widths unknown.

Waddikee – Graphite Prospects

• Based on review of historical rock chips and drill holes – Monax outlined eight potential graphite prospects at its Waddikee Graphite Project on SA’s E re y Peninsula. Sugarloaf Deposit

Waddikee ‐ Maiden Graphite Drilling Program

July 2012

• Drilled within areas not under crop in June 2012.

• Completed 40 reverse circulation (RC) holes totalling 2908m.

• Drilled five out of the eight prospects outlined.

• Observed graphite at all five prospects.

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• Best prospects Wilclo South and Lacroma.

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Waddikee – Maiden Drilling Program

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Lacroma Prospect

• Minor surface graphite

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• Previous drilling by WMC reported 70m of graphite

• M onax re- d r ill e d WMC h o e l and intersected 60m @ 6.8% total graphitic carbon (TGC).

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• Need to chase this intersection closer to surface – conductivity shows layer di ps o eas . t t

• Significant conductivity feature located further east – UNTESTED.

• Surface graphite – fine gra ne i d

Note: downhole lengths reported, true widths unknown

Scale bar = 200 microns

Waddikee – Maiden Drilling Program

Wilclo South Prospect

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• Virgin discovery - prominent surface outcrop (only discovered during drilling program)

• Surface sample – high - grade , coarse flake graphite (assay = 22.9% TGC)

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• Drillin showed hi h- rade ra hite g g g g p

• occurs to at least 100m below surface

• Good intersections re orted in two p

• holes

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Wilclo South – Resource Graphite Drilling Program

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February 2013

• Completed 77 RC holes totalling 7307m over a strike length of 1.4km

Significant intercepts include 12m @ 17.3% TGC, 15m @ 16.3% TGC and 10m @ 24.4% TGC (note: down hole length , true width unknown) .

• Drilling showed multiple graphite horizons – relatively shallow dip (~30-40[o] ).

Impressive high-grade graphite up to 45% TGC reported over one metre.

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Wilclo South JORC Resource

• Total combined JORC Inferred Mineral Resource:

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• 6.38 Mt grading 8.8% TGC 550,000 tonnes of contained graphite (5% TGC cu -o t ff)

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• High-grade component:

• 1.75 Mt @ 12.5% TGC* (10% TGC cut-off)

• Wilclo South resource extends 1.4km with f u rther potential along strike and at depth .

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Information in this p resentation that relates to Mineral Resources was compiled by Ms Sharron Sylvester, who is a Member of the Australian Institute of Geoscientists (RPGeo 10125). Ms Sylvester is a full-time employee of AMC Consultants Pty Ltd and has sufficient experience relevant to the styles of mineralisation and to the activities which are being reported to qualify as a Competent Person as defined by the JORC Code, 2012 and consents to the release of the information compiled in this report in the form and context in which it appears.

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Wilclo South – Geophysical Methods (Zonge)

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Waddikee Graphite Project – Regional Potential

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Francis Prospect

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• Best results* from the Francis prospect include:

• 15m @ 20.7% TGC (WG118 14-29m)

• • 12m @ 21.9% TGC (WG121 60-72m)

• • 3m @ 22.2% TGC (WG119 36-39m)

• • - 2 m @ 25 1%. TGC (WG120 51 53 m )

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• (Note: all lengths are downhole lengths; true width unknown; TGC = total graphitic car b on )* .

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Extensive strike-length of interpreted graphite horizon on Project area awaits drill testing .

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Waddikee Graphite Project

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Options Moving Forward

1. Further Development

Metallurgical and beneficiation testing of drill hole samples from Wilclo South - to characterise potential product for off-take discussions and marketing.

Detailed geophysics and follow-up drilling at Francis prospect to identify satellite deposit.

Resource definition at Francis to increase global mineral resource for Waddikee Project.

Marketing studies based on results from metallurgical testing.

Scoping study.

2. Joint Venture

3. Outright Sale of Project

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Monax Mining – Project Overview
Antofagasta Monax Mining
Focus on copper in S . A . F ocus on copper an d grap hit e on e aw er ra on th G l C t
Monax | Antofagasta Alliance Monax Monax Monax
project generation JV projects earning in projects projects
Designated Algebuckina Punt Hill (Antofagasta) Reedy Lagoon (FMG) Waddikee
(AMSA 51% | Monax 49%)
Projects
WGC
Millers Creek
Phar Lap
Kangaroo Island
Webling Bay
Potential project
pathway
Musgraves
Red = copper
Black = graphite
Blue = nickel/copper
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Punt Hill Copper‐Gold Project

Monax’s Flagship Project

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• Located within Olympic Iron-Oxide Copper-Gold Province.

• P rov nce os s ma or copper epos i h t j d it s a t Ol ymp c am, i D Prominent Hill, Carrapateena and Hillside.

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• Premier IOCG province in Australia which attracts large mu lti -na ti ona compan es l i (BHP Billit on, Ri o n o an Ti t d Antofagasta) and is tightly held.

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• Target – large (>200Mt), high-grade (>1% Cu) deposit .

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• Persistence is required to discover major ore deposits on the Gawler Craton.

• I mpor ance o t f th e Ol ymp c i IOCG P rov nce g i hi hli g ht e d b the three discoveries within last decade.

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• Monax signed a significant Farm-In Agreement with a wholly owne d su b s idi ary o f Chil ean ma or, n o agas a p c, n j A t f t l i September 2010

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Punt Hill – Farm‐In Agreement

Farm-In Agreement with Antofagasta plc

• Antofagasta spending US$4 million on ex p loration to earn 51% interest in Punt Hill (Phase 1).

• Antofagasta has an option to fund a further US$5 m illi on on exp ora l ti on o earn an t additional 19% interest in the project (70% total interest) (Phase 2).

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• Drilling programs completed in 2011 & 2012.

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• Antofagasta has expended ~US$3.9 million .

• on the project to date

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• Monax has identified further targets for drillin g .

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• Further drilling will trigger Phase 2.

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Punt Hill – Current position

Geophysical/geological review has highlighted additional drilling targets.

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Three targets approved for drilling at recent Technical Committee meeting – awaiting approval for funding by Antofagasta.

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Khamsin
•
Funding approval and subsequent drilling will
Carrapateena
trigger Punt Hill Joint Venture under
Agreement with Antofagasta.
•
ASX-listed OZ Minerals continues to report
good results from its Khamsin prospect
(recent intersection of 662m @ 0.57% Cu &
0 . 09 g/t Au from 888m in hole DD13KMS011
– down hole length, true width unknown).
New Targets
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Image: Bouguer Gravity

Monax|Antofagasta Strategic Alliance

Monax | Antofagasta Strategic Alliance

• In August 2011, Monax signed a Strategic Alliance with a wholly owned subsidiary of Antofagasta plc , for copper project generation within South Australia.

• Antofa g asta committed US$1 million over two years.

• Antofagasta has approved 3[rd] year of funding (@$US 400 , 000) .

• Antofagasta to fund “Designated Projects” – US$4 million over three years to earn 70% interest in project.

• One Designated Project – Millers Creek

• Two current Alliance Project areas 1.Musgrave Province

• 2.Kangaroo Island

(Note: these 2 projects are at an early stage and may not become Designated Projects)

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Summary

• Monax outlined JORC Inferred Mineral Resource for Wilclo South Graphite Deposit in 2013.

• R esource compares avoura f bl y w ith o th er epos d it s on Eyre Peninsula.

• Monax evaluatin g all o p tions to maximise the value of the Project.

• Monax supported by Chilean copper producer Antofagasta for P u nt Hill , Strategic Alliance and future Designated Projects focused on large IOCG targets.

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• Monax’s main focus for 2014 will be working on its Antofagasta funded projects.

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Thank You

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Gary Ferris Managing Director

P ( 08) 8245 9004 M 0423 259 488 E: gferris@monaxmining.com.au

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