FireFly Metals Ltd. — Investor Presentation 2013

May 21, 2013

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Investor Presentation May 2013 Gary Ferris Managing Director

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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 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 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 .

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Corporate Snapshot

Directors/Executives

Profile

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

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.

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Cash : As at 31 March 2013, $1.5 million

Share Details
Total shares on Issue	149,514,803
Market Caitalisation	$61 million
p	.
Share price at 21/5/13	4.1 cents
Top Twenty	34.7%

Projects & Investment Highlights

Punt Hill Copper-Gold Project

• Antofagasta has expended ~US$3.8 million to date on the project

• Monax defined further drill targets

• Recent success by OZ Minerals at nearby Khamsin prospect

Monax | Antofagasta Strategic Alliance

• Monax 'Alliance' has five tenement applications

Algebuckina Designated Project (Antofagasta)

• Gravity survey commenced

• Drilling planned for Qtr 3

Waddikee Project

• Graphite drilling completed

• Awaiting results

• Define JORC Resource – mid-late June

Reedy Lagoon Project (FMG tenement)

• Term Sheet signed with Fortescue Metals

• IOCG target outlined from historical gravity data

• Undertake detailed gravity survey upon access approval

Phar Lap IOCG Project

• Two IOCG gravity targets outlined by geophysical review

Yorke Peninsula IOCG project

• Two sub-projects (Webling Bay 100% Monax) & Melton JV ( w t i h M armota nergy E )

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WGC project

• New project – prospective for Ni-Cu (seeking partner)

Punt Hill Copper‐Gold Project

Flagship Project

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

• P rov nce osts ma or copper epos ts at i h j d i Ol ymp c am an i D d Prominent Hill and significant new discoveries at Carrapateena and Hillside.

• P rem er i IOCG prov nce n us ra i i A t li a w hi c h a tt rac s arge t l companies (BHP Billiton, Rio Tinto, Xstrata and Antofagasta) and is tightly held.

• M onax as een wor h b ki ng on th e un P t Hill pro ec j t s nce i 2006 and has developed a large database of geological data.

• T arge – t l arge, g hi h -gra d e > ( 1% C u ) d epos it .

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

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Punt Hill Copper‐Gold Project

•

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• Khamsin •

• Carrapateena

Geo h sical review has hi hli hted five further drillin p y g g g targets.

Monax is currently modelling these targets, which have yet t o e approve b d b y th e un P t Hill T ec h n ca i l C omm itt ee or f drilling.

Monax has received the date of ranite within hole HODD3 g – Hiltaba age (alteration) – same age date as mineralisation at Olympic Dam.

• DMITRE Project (h y logger , u f ll s u ite geochemistr y etc) - aim is to provide potential vectors to mineralisation.

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OZ Minerals continues to re ort ood results from Khamsin p g prospect (recent intersection of 334m @ 0.75% Cu & 0.23 g/t Au from 909m in hole DD13KMS006 – down hole length, true width unknown).

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Monax and Antofagasta planning next phase of exploration.

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New Targets
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Punt Hill Copper‐Gold Project

Prairie Dog Prospect

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• PDDD2 99m @ 0.24% Cu 876-975m

Groundhog Prospect

• GHDD1 126m @ 0.4% Cu 837-963m (including 14m @ 0 7% Cu & 14m @ 1% Cu).

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• GHDD2 162m @ 0.34% Cu 888-1050m (including 28m @ 0.7% Cu)

• GHDD3 76m @ 0 . 22% Cu 826 - 902m

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• GHDD3 76m @ 0 . - 902m
•
GHDD4 122m @ 0.47% Cu, 0.1g/t Au,
large
6.6g/t Ag, 0.38% Zn 840-962m
area of skarn
(including 15m @ 0.96% Cu)
a lt era ti on an d
•
copper GHDD6 159m @ 0.47% Cu, 0.12g/t Au,
mineralisation 5.3g/t Ag, 0.48% Zn 846-1005m
(including 17m @ 1.1% Cu)
Woodchuck Prospect
•
WDDD1 70m @ 0.41% Cu 683-753m
(including 28m @ 0.82% Cu, 10g/t Ag)
Whistlepig Prospect
•
WPDD1 60m @ 0.13% Cu 788-848m
Note: all intersections reported are downhole
lengths, but due to flat lying nature of sediments
GHDD1 WDDD1 PDDD2 interpreted to represent true widths
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Punt Hill – Farm‐In Agreement

Farm-In Agreement with Antofagasta plc, Chile

• Monax announced ma j or Farm-In A g reement with Chilean major, Antofagasta plc, in September 2010.

• Antofa g asta spendin g US$4 million on exploration to earn 51% interest in Punt Hill (Phase 1).

• Antofagasta has an option to spend a further US$5 million on exploration to earn an additional 19% interest in the project (70% interest) (Phase 2).

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• Drilling programs completed in 2011 & 2012.

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• Antofagasta has expended ~US$3.8 million on the project to date.

• Monax has identified further targets for drilling.

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• Further drilling will trigger Phase 2.

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Monax|Antofagasta Strategic Alliance

Monax | Antofagasta Strategic Alliance

• In August 2011, Monax signed a Strate ic Alliance with ma or Chilean g j

• copper producer, Antofagasta plc, for project generation within South Australia.

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Gawler IOCG

• A n o agas a comm t f t itti ng US$1 m illi on over two years for project generation within South Australia.

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

• Alliance is currently in its second year.

• Currentl y, one Desi g nated Pro j ect ( DP ) Algebuckina.

• Two current Alliance Project areas 1 . Gawler IOCG

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1. Kangaroo Island

Algebuckina Project (Designated Project)

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• L oca e t d w ithi n ea P k an d D en son i Bl oc k , nor th ern South Australia.

• Proterozoic block – similar geological history to Cl oncurry area (Nth QLD) .

Four gravity targets identified at Ruby Hill & Eitzen Bore (Monax Alliance) and Tarlton Springs & Outside S pr ngs i (F a con l ) .

Monax Alliance has an Option to Purchase Agreement over two tenements with Falcon Minerals (ASX:FCN) w hi c h f orm par o t f th e Al ge b uc ki na es gna e D i t d P ro ec . j t

• Commence exploration upon receipt of Ministerial approval and Aboriginal consent.

Monax to sign Native Title Agreement with Arabana Native Title Group.

• Initial exploration to comprise detailed gravity surveys over four targets.

Drilling planned for Qtr 3 2013 (based on results from . gravity survey)

Olympic IOCG Project (Alliance Application)

ELA 2012/00 - 318 Hunts Bore – gravity model (based on available gravity data)

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Note: Monax Alliance projects are at an early stage and may not become Designated Projects.

Olympic IOCG Project (Alliance Application)

– ELA 2013/00087 Margarets Dam gravity model (based on available gravity data)

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Note: Monax Alliance projects are at an early stage and may not become Designated Projects.

New Project ‐ Reedy Lagoon

• In the search for untested IOCG targets and as part of a review of available gravity data on the Gawler Craton, Monax assessed this target.

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• Significant gravity anomaly outlined within EL 5026 .

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• Tenement is located within Amber Zone of Woomera Prohibited Area where exploration access has been restricted since 1985.

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• Term sheet signed with Fortescue Metals, holder of EL 5026, to allow Monax to undertake detailed gravity survey.

• Monax and Fortescue to negotiate terms for Monax to earn an interest in the project as well as forming a joint venture upon successful technical due diligence.

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New Project ‐ Reedy Lagoon

• Thi s . 2 5 M ga grav l it y anoma y l is non-magnetic, and appears to be related to NW-SE and E- W trending structures.

• The 2.5 Mgal gravity anomaly models as a Prominent Hill s h ape d mo d e , . l 4 7k m ong, l 300m wide at 800m depth, for approximately 3000mt total mass of SG 3.9 /cc to 2.8km g

• depth.

• Monax plans to undertake d e a t il e d grav it y survey once access is approved.

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0 5km
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Tenement Outline, Gravity contours (1Mgal) with TMI image, modelling line, drill hole RL1 and gravity model projected to surface.

New Project ‐ Reedy Lagoon

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• Gravity modelling of the numerous magnetic dykes concluded that, while the dykes do impart a 0.5 Mgal to 1 Mgal gravity anomaly in themselves, th a t 2 . 5 M ga rema ns l i unaccounted for. • Thi c k e nin g o f t h e dy k es to form a greater mass, therefore a greater gravity anomaly, was rejected as thi s a f il s th e magne ti c model.

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Phar Lap IOCG Project

• ( Monax 100% of all minerals excludin g uranium ; Monax 25% interest in uranium)

Genuine Target – PLDD002

• Western margin of Mt Woods Inlier located ~50km west of Prominent Hill.

• ‘

• • Prominent Hill ' setting' | Carrapateena ' size

• .

• Geophysical anomaly comparable to Carrapateena in size and amplitude.

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)
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Western Gawler Craton (WGC) Project (Monax 100%)

• Located approximately 950km northwest of Adelaide.

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• Five tenements covering an area of 2

• 4716k m .

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• Target Ni-Cu (Thompson Ni-Belt style).

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• Has similar tectonic setting to Albany Fraser Belt in Western Australia.

• A rea re a l ti ve y unexp ore l l d .

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• Potential for other styles of min e r a li sa ti o n ( i. e . s h ea r h os t ed go l d) .

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TMI data shows lithological & structural complexity with major crustal scale shear zones

Western Gawler Craton (WGC) Project (Monax 100%)

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Ultramafic – mafic
Mafic - intermediate
Intermediate - felsic
Shear zone
Granite
Granite
Model: Thompson Nickel Belt –
sulphide mineralisation is
associated with altered and
deformed ultramafic bodies.
Geological setting similar to the
Alb any- F raser e B lt i n W es ern t
Basement interpretation by Jigsaw Geoscience Australia.
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Western Gawler Craton (WGC) Project (Monax 100%)

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Taken from
Fairclough presentation
At Paydirt Nickel 2012
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Yorke Peninsula IOCG Project

Highlights • Interest in 2 subprojects: - Melton (50:50 JV with Marmota) - Waddikee Graphite Webling Bay (100% Monax) • Significant recent news on YP: Pro ect j - Sandfire JV on Argonaut ground (adjoins Webling Bay) - S an dfi re – curren tl y rev ew ng i i W e bli ng ay a a B d t • Adelaide Resources reported 66m @ 1.04% Cu from 236m including 12m @ 1.64% Cu from 251m at the W om b a prospec . t t • Adelaide Resources and Sandfire to commence drilling in Qtr 1 2013 • Marmota reported encouraging copper and gold results from calcrete sampling at Melton • Marmota commenced detailed calcrete sampling program – cost to Monax $20,000.

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Cu in calcrete
Area A
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Waddikee Graphite Project (100% Monax)

Summary

• Located within emerging Australian graphite province – South Australia’s E re y

• Peninsula.

• Monax has completed regional and detailed geophysical surveys which outlined the prospective graphite horizons.

• Major drilling program comp ete l d at Wil c o out l S h aimed at providing enough data to produce a JORC R esource.

• Awaiting results – expected by late May with JORC Resource defined by mid to late June.

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Waddikee Graphite Project (100% Monax)

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Wilclo South Graphite
Petrology by Pontifex and Associates
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Waddikee Graphite Project

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Francis Prospect

• Seven holes completed at Francis .

• graphite prospect

• Best results from the Francis prospect include:*

• 15m @ 20.7% TGC (WG118 14-29m)

• 12m @ 21.9% TGC (WG121 60-72m)

• • 3 m @ 22.2 % T GC ( W G 11 9 36 - 39 m ) • 2m @ 25.1% TGC (WG120 51-53m)

• • 2m @ 16.2% TGC (WG120 56-58m)

• • 3m @ 10% TGC ( WG123 29-32m )

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

• Now two high grade prospects outlined in Waddikee Project area.

• Lar e strike-len th of inter reted ra hite g g p g p

• horizon on Project area.

Waddikee – Francis Iron Prospect

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• The Francis Iron prospect is located on the Eyre Peninsula, South Australia, 110km west of Whyalla.

• The prospect comprises approximately 15km strike of magnetic horizon.

• Recently completed drill hole FRC001 intersected * .

• magnetite gneiss from 81m to 163m (EOH)

• Grades up to 20% Fe** as magnetite.

• Strongest and shallowest areas remain untested

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• Comparable grades to other Eyre Peninsula magnetite projects.

• Close proximity to proposed developing infrastructure.

• Monax is assessing project direction and value add opportunities.

• FRC001 77m @ 13.2% Fe from 81m depth. Drill hole vertical ** FRC001 20.06% Fe between 129m-130m.

Monax Mining – Project Vision

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Monax Mining
Antofagasta
F ocus on copper on e aw er th G l C ra on t
Monax/Antofagasta Alliance Monax Monax Monax
Project generation JV projects earning in projects projects
Designated Kangaroo Island Punt Hill (Antofagasta) Reedy Lagoon (FMG) Phar Lap
Projects
G aw er l IOCG WGC
Algebuckina
SEEKING Waddikee
PARTNER
Potential project
Notes pathway W e bli ng ay B
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• Waddikee – graphite focus

• Phar Lap – Monax has 100% rights to all minerals excluding uranium; Monax has rights to 25% of uranium

• Designated Projects – Antofagasta required to spend US$4 million over three years to get a 70% interest in the project

• Monax Alliance Projects - Early stage opportunities; may not become Designated Projects

Red = copper project Black = other commodity

• Monax has 50:50 JV at Melton (Yorke Peninsula) and Ambrosia (west of Tarcoola) with Marmota Energy (ASX:MEU) – not shown

Monax – 2013 Proposed Exploration Program

			Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
	PROJECT	Sub-Project	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
	P Hill unt
	Alliance
		Algebuckina Designated Project
		Olympic IOCG
		Kangaroo Island
		Project Reviews
	Waddikee
	Reedy Lagoon
	Phar Lap
	Yorke Pen	Melton
		Webling Bay
	General geology Geophysics (EM or gravity) Surface sampling Assumptions: • Punt Hill drilling contingent upon successful approval by Farm-In partner, Antofagasta plc. • Algebuckina planned drilling dependant upon gravity survey results
	. Drilling Aboriginal heritage • Olympic IOCG and Kangaroo Island gravity survey – dependant upon grant of tenement by DMITRE.

• Reedy Lagoon and Phar Lap planned exploration dependant upon Woomera Prohibited Area and heritage access.

Summary and Conclusions

Monax’s main focus – iron-oxide co pp er- g old (IOCG) within Olympic IOCG Province. Monax has outlined further drill targets at fla g shi p Punt Hill p ro j ect. Monax currentl y undertaking further modelling of these targets and will present to Farm-In partner Antofagasta, for approval.

• •

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Ground gravity survey commenced on first Designated Project with Antofagasta.

• Designated Project with Antofagasta. • Geophysics planned for KI and Olympic IOCG projects – funded under Alliance with Antofagasta. • Term Sheet signed with Fortescue Metals for new project “Reedy Lagoon”. Review of historical gravity data has outlined gravity anomaly. • Monax planning to drill IOCG target at Phar Lap. • Waddikee graphite drilling completed – aim to produce JORC resource by mid 2013. • New Ni-Cu project on western Gawler Craton – significant land package – SEEKING PARTNER.

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Thank You

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

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