FireFly Metals Ltd. — Investor Presentation 2021

Jul 1, 2021

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PICKLE CROW GOLD PROJECT, ONTARIO, CANADA

A RAPIDLY ADVANCING HIGH-GRADE GOLD PROJECT

CORPORATE PRESENTATION MarketLit Conference

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2 JULY 2021 | ASX: AUT

AuTECO Minerals (ASX:AUT) Presentation

MarketLit Conference – Australia’s First Millennial and Generation Z Investment Conference

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Executive Chairman Mr. Ray Shorrocks

AuTECO Minerals is pleased to provide a corporate overview at the MarketLit Conference on 2[nd] July 2021.

Shareholders and investors are invited to view a virtual summary of this presentation by Executive Chairman Ray Shorrocks.

Register: The event is free and investors can register online to view the presentation here: https://www.eventbrite.com.au/e/marketlit-australias-first-millennial-and-gen-zinvestment-conference-tickets-157423577157

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than the Company has authorised or
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DISCLAIMER & CAUTIONERY STATEMENTS

DISCLAIMER

This presentation has been prepared by Auteco Minerals Limited (the Company) based on information from its own and third party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, dispatch or provision of this presentation, or takes any responsibility for, or makes or purports to make any statements, representations or undertakings in this presentation. Except for any liability that cannot be excluded by law, the Company and its related bodies corporate, directors, employees, servants, advisers and agents (Affiliates) disclaim and accept no responsibility or liability for any expenses, losses, damages or costs incurred by you relating in any way to this presentation including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused, lack of accuracy, completeness, currency or reliability or you or any other person placing any reliance on this presentation, its accuracy, completeness, currency or reliability. This presentation is not a prospectus, disclosure document or other offering document under Australian law or under any other law. It is provided for information purposes and is not an invitation nor offer of shares or recommendation for subscription, purchase or sale in any jurisdiction. This presentation does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. Each recipient must make its own independent assessment of the Company before acquiring any shares in the Company (Shares). The Company has made reference to historic drilling and exploration results from a variety of Exploration company's over the past 60 years that had previously explored the Project. References to previous ASX announcements should be read in conjunction with this release. The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation.

FORWARD LOOKING INFORMATION

This document contains forward looking statements concerning the Company. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forwardlooking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on the Company’s beliefs, opinions and estimates of the Company as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of commodities, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. No representation, warranty or undertaking, express or implied, is given or made by the Company that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur.

NO NEW INFORMATION OR DATA

This Presentation contains references to Mineral Resource estimates, all of which have been extracted from the Company’s ASX announcement titled "Resource Grows to 1 Moz at 11.3 g/t Gold at Pickle Crow” and dated 1 September 2020, which is available to view at https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02275588-2A1247126?access_token=83ff96335c2d45a094df02a206a39ff4. All future references in this release to the 1Moz Resource at a grade of 11.3g/t refer the announcement dated 1 September 2020. The Company confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimate (Inferred Resource - 2.8Mt @ 11.3 g/t gold for 1.0M ounces of gold) in that announcement continue to apply and have not materially changed. A breakdown of the resource is set out in this Presentation.

This Presentation also contains references to Exploration results which have been extracts from various ASX announcements on the dates indicated throughout this Presentation. The Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements.

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CORPORATE SUMMARY

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120
SHAREHOLDER SUMMARY
$0.20
Board and Management 100
27%
(on a fully diluted basis)
Total Australian and Global institutions 26% 80 $0.15
Substantial shareholders
60
- 1832 Asset Management LP 9.4% $0.10
- First Mining Gold Corporation 7.5%
- Symorgh Investments Pty Ltd 6. 2% 40
- Campbell Kitchener Hume & Assoc, 5.9%
$0.05
20
CAPITAL STRUCTURE
ASX Code AUT 0 $-
Shares on issue 1.7B
Management & consultant options
390M
(prices from $.007 - $.015)
Current Market
Top 20 Shareholders 63% Share Price [1] A$0.083 Capitalisation A$135M Cash [2] ~A$26.8M
Share Price
Volume (Millions)
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1 As at 1 July 2021 2 As at 31 March 2021

BOARD AND KEY MANAGEMENT

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Executive Chairman Mr. Ray Shorrocks

Non-Executive Director Mr. Steve Parsons

Steve is an experienced geologist with a proven track record of mineral discoveries and corporate growth. He founded and ran Gryphon Minerals which grew to an ASX-200 company and was acquired by a significant North American gold producer.

Ray has more than 27 years’ experience in corporate finance and investment banking. He has advised a diverse range of ASX-listed mining companies in his position at a major Australian broking firm.

Mr Shorrocks also sits on a number of ASX listed Boards including Galilee Energy Ltd, Alicanto Minerals Ltd, and Cygnus Gold Ltd. Mr Shorrocks was previously the Chairman of Bellevue Gold Ltd during the initial discovery stages.

Steve is Managing Director of Bellevue Gold (ASX: BGL) which has discovered +2.3 Moz of gold @ 10 g/t in just over two years and grown Bellevue to an ASX300 Company.

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Non-Executive Director Mr. Michael Naylor

Michael has 26 years’ experience in corporate advisory and public company management since commencing his career and qualifying as a chartered accountant.

Michael has been involved in the financial management of mineral and resources focused public companies serving on the board and in the executive management team focusing on advancing and developing mineral resource assets.

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Chief Operating Officer Mr. Darren Cooke

Darren is a geologist with 24 years’ experience having previously held senior positions in global majors including Barrick Gold, Newmont and Northern Star Resources.

Darren has had extensive gold industry experience in Australia and North America spanning regional and near mine exploration, operational geology, long-term planning and corporate development.

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Chief Geologist Mr. Marcus Harden

Marcus is a geologist with extensive gold and base metals exploration and management experience throughout Australia, Africa, Asia and the Americas.

He has played key roles in the discovery and definition of more than 9 million ounces of gold globally with ASX listed junior companies. Three of these projects are currently operating and one is in development.

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GROWTH VISION

Build a globally relevant and sustainable resources company focused on value creation for shareholders and the communities in which we operate

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COMMODITY

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Gold Focused ±Ag ±Cu

JURISDICTION Canada & USA

PEOPLE, SAFETY & SOCIAL LICENCE

• Develop and maintain our human capital

• Operate in a safe and socially and environmentally responsible manner

• Develop respectful and mutually beneficial partnerships with communities in which we operate

GEOLOGY

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Known Mineral Districts Camp Scale Opportunities

SCALE

>1Moz Discovery >100koz p.a.

DEPOSITS

High Grade & Continuous, Metallurgically simple

ORGANIC GROWTH

• Advance near mine and regional exploration targets to add value (Discover, Define)

• Grow existing Resource and build 'a highquality mining inventory

• Utilise existing infrastructure to maximum benefit

INORGANIC GROWTH

• Evaluate, acquire and/or partner on accretive assets that complement our growth strategy

• Be agile to take advantage of opportunities in a dynamic and ever-changing world

• Plan for (and expect) growth

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ASSET SUMMARY

Pickle Lake is one of the highest-grade historic gold mining camps in Canada – Pickle Crow underground mine produced 1.5 Moz at 16.1g/t Au

LOCATION	•	400km north of Thunder Bay, Ontario, Canada
	•	Daily flights to Pickle Lake
ACCESS	•	Paved highway and sealed roads
	•	Access 365 days per year
HISTORIC	•	3.1Mt @ 16.1g/t Au for 1.5Moz (1935 – 1966)
PRODUCTION
RESOURCE	•	2.8Mt @ 11.3g/t Au for 1.0Moz (Sept 2020)
	•	496km2, 106 Patented Mining Claims
TENEMENT HOLDING	•	Regional exploration tenure focus on Pickle Lake
		Greenstone Belt and Sioux Lookout
UNDERGROUND	•	3 main shafts (#1, #3 & Albany)
INFRASTRUCTURE	•	38km of lateral development
	•	Processing plant (225tpd, never commissioned)
SURFACE	•	24-person camp
INFRASTRUCTURE	•	600kw generator
	•	Core processing facility
POWER	•	Grid connected hydro-power

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STRATEGIC WORK PLAN

Strong progress made in the advancement of Pickle Crow

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AuTECO Work Plan – September 2020 to July 2021

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Key ASX
1 Sept 2020 11 Nov 2020 19 Jan 2021 7 Apr 2021 16 June Release
Updates
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul
2021
2020
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	pdates	pdates				1	1					May Apr Jun	May Apr Jun	May Apr Jun	May Apr Jun
		Aug	Sep	Oct		Nov	Dec Jan 02		Feb	Mar		Apr	May
						2
NEAR MINE EXTENSIONS & EXPLORATION RESOURCE DEFINITION MID YEAR 2021 RESOURCE As at 30 June 2021 • Update the Resource estimate as at September 2020 • 45,000m diamond drill program • Discover new lodes and extend known vein lodes • Infill drill newly discovered / extended lodes • Commence testing of early stage conceptual targets • Deliver Resource update as at 30 June 2021on track for July Delivery DUE JULY 2021 COMPLETED ~10,000m DD REGIONAL EXPLORATION COMPLETED ~5,000m DD MID YEAR 2020 RESOURCE As at 1 Sep 2020 COMPLETED CURRENT PROGRAM COMPLETED ~30,000m DD KEY OBJECTIVES • Between 4 & 6 Drill Rigs on site at any one time

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STRATEGIC WORK PLAN HIGHLIGHTS TO DATE

FOCUS

DELIVERED HIGHLIGHTS TO DATE

• Resource upgrade to 1Moz gold at a grade of 11.3g/t

Mid Year 2020 Resource

• Prepared in accordance with the JORC Code (2012 Edition)

• ~30,000m of near mine extension drilling completed

• Successfully discovered mineralised vein structures in the near-mine environment outside of the current Resource

• Continued to identify extensions to the known Resource veins

Near Mine Extension

• Key drill results delivered outside of the current Resource included[3] :

• 0.6m @ 313.0g/t , 0.6m @ 42.9g/t , 1.0m @ 34.9g/t , 5.6m @ 33.4g/t , 1.2m @ 29.7g/t , 1.5m @ 26.6g/t , 1.3m @ 21.4g/t , 1.5m @ 19.3g/t , 1.6m @ 19.2g/t , 1.5m @ 19.3g/t , 1.2m @ 11.9g/t , 5.0m @ 9.5g/t , 3.6m @ 8.2g/t , 3.3m @ 8.0g/t , 2.3m @ 7.8g/t , 4.9m @ 7.5g/t , 4.6m @ 7.5g/t , 3.0m @ 7.4g/t

• ~10,000m of definition drilling completed

Resource Definition

• Infill drilling completed on some of the newly discovered veins and extensions

• This data forms the basis of the updated MY2021 Resource estimation

Regional Exploration

• ~5,000m of conceptual early stage exploration target testing completed

• Early success with the Carey Discovery ( 20.4m @ 5.3g/t , see this release)

Mid Year 2021 Resource

• Interpretation, Estimation and Validation in progress

• • To be announced July 2021

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Drilling year to date has been focused on growth and determining the size potential of the mineralised system

All Auteco holes between September 2020 and July 2021 have been drilled outside of the 1Moz Resource, setting the stage for the July Resource update

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3 For detail on the Resource and drill results please refer to ASX releases dated 1 Sep 2020, 11 Nov 2020, 19 Jan 2021, 7 Apr 2021 and 16 June 2021

EXPLORATION & GROWTH UPDATE

ASX Release June 16, 2021 – Highlights[4]

LONG TERM GROWTH

GENERATIVE

• Mapping and reconnaissance rock chip sampling conducted South of the Resource area

• Ground magnetic survey continue

• Numerous outcropping veins traced and mapped at Springer prospect

• • Rock chip samples include: • 145.7g/t gold

• • 6.2 g/t gold

  • 5.7g/t gold

• Ground magnetics identified multiple structural offsets and demagnetised zones

DISCOVERY

• First-pass drill testing of conceptual targets in the northern near-mine area

• Discovery of the Carey zone , an intersection between the Albany porphyry contact and other NE trending dykes & veins • Assays include:

• 20.4m @ 5.3g/t gold

• • 13.8m @ 2.0g/t gold

• • 16.5m @ 2.2g/t gold

• • 6.5m @ 4.6g/t gold

PATHWAY TO PRODUCTION

RESOURCE GROWTH

• Continued step out and exploration in the near mine area

• Drilling to extend Resource

• Discovery of new structure >250m from other AUT holes • 4.9m @ 7.5g/t gold

• • Extensions of known veins , will contribute to Resource update. Assays include:

• 1.3m @ 21.4g/t gold

• 3.3m @ 8.0g/t gold

• • 4.6m @ 7.5g/t gold

• • 0.6m @ 42.9g/t gold

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4 For further details refer to ASX Announcement 16 June 2021

THE CAREY DISCOVERY

First Testing of a Conceptual Target

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AUDD0158: 20.4m @ 5.3g/t gold[5]

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Carey is the zone of structural disruption around the contact of the Albany porphyry and the intersection of later stage porphyritic dykes and NW-SE trending structures

These structures have acted as fluid conduits

This style of mineralisation is different to the vein hosted gold in the current 1Moz Resource

It is hosted in broad disseminated sulphide-rich alteration halos and qtz-sulphide veinlets

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5 For further details refer to ASX Announcement 16 June 2021

NEAR MINE EXPLORATION & RESOURCE TARGETING

Shaft 3 Continues to Demonstrate Growth Potential[6]

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AUDD0152: 4.9m @ 7.5g/t gold

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Further New Structures & Extensions to Underpin Resource Update

• Hole AUDD0152 ( 4.9m @ 7.5g/t gold ) is a newly discovered structure >250m away from previous Auteco drilling, and remains open in all directions

• Drilling around shaft 3 is continuing to delineate a cluster of mineralisation to the North West of the current Resource. Results include:

• 3.3m @ 8.0g/t gold

• 4.6m @ 7.5g/t gold

• 1.3m @ 21.4g/t gold

• 1.3m @ 27.9g/t gold

• 0.6m @ 42.9g/t

• The recent results will be incorporated into the mid year Resource update which is planned for release in July 2021

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6 For further details refer to ASX Announcement 16 June 2021

REGIONAL RECONAISSANCE EXPLORATION

Mapping, Outcrop Sampling and Ground Magnetics Continue to Define Targets[7]

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Regional reconnaissance exploration has commenced away from the near mine area

Detailed ground magnetic surveys are successfully delineating structural offsets and demagnetised zones

Rock chip sampling of outcropping quartz veins mapped as part of the regional program at Springer, located ~2kms south west of Shaft #1, returned gold assay results of:

145.7g/t, 6.2g/t, 5.7g/t, 4.3g/t, 1.5g/t, 1.46g/t

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7 For further details refer to ASX Announcement 16 June 2021

FORWARD WORK PLAN

Key Strategic Work Pillars for Pickle Crow to December 2021

LONG TERM GROWTH

RESOURCE UPDATE

GROWTH & EXPLORATION

• Continue the dual strategy of Near Mine Resource growth and Regional Discovery focused exploration

• Complete an updated Mineral Resource Estimate ,

prepared in accordance with the JORC Code (2012 Edition)

• Board approval for a further 50,000m of drilling

• All data compilation and validation for 2020-2021 drilling to date completed

• Between 4 and 6 drill rigs on site at any one time

• At least 2 dedicated to regional and conceptual exploration and the remainder focused on Resource additions

• Geological Interpretation and wireframing in progress

• Cube consulting engaged to complete the Resource estimate

• Continue generative work (mapping, surface sampling, geophysical data acquisition)

• Due for completion in July

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PATHWAY TO PRODUCTION

PATHWAY TO PRODUCTION

• In anticipation of success, commence high level activities to demonstrate the pathway to production

• Commencement of Advanced Exp permitting from Ontario Ministry of END&M • Wood PLC engaged

• High level Assessment of milling infrastructure

• High level assessment of UG infrastructure and re-access options and capital requirements

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AUTECO – A COMPELLING INVESTMENT OPPORTUNITY

In summary

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AuTECO has built a strong platform for future growth Having advanced the historic Pickle Crow gold project to be one of the highest-grade emerging +1Moz Resources globally, work will continue to explore, define and grow the asset

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LOCATION
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THE ASSET
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UPSIDE
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CORPORATE & TEAM
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One of the best mining addresses in the world

A long history of delivering high-grade gold

Exceptional exploration targets and strong drill results to date

Well funded to deliver with a quality experienced team

• Operating in a stable Tier 1 mining jurisdiction (Ontario, Canada)

• Located in a prolific mineral belt with >40Moz gold endowment (Superior Craton, Uchi Sub-province)

• Pickle Crow has a long history of high-grade gold mining, 1.5Moz @ 16.1g/t produced (1935-63)[8]

• Independently estimated Resource of 1Moz at 11.3g/t Au[9]

• Year-round access with quality Infrastructure and a large regional land holding

• Limited modern systematic camp-scale exploration conducted by previous owners

• Promising near mine drill results to date, demonstrating extensions to known structures and discovery of mineralised vein arrays

• Historical data highlights regional

• potential, with km-scale mineralised trends - limited testing

• Healthy cash balance to deliver growth ($26.8M at 31 Mar 2021)

• 50km drill program in progress, 4 rigs on site

• Corporate & management team with experience, expertise and a track record of delivery

• Experienced, talented and established team on the ground in Canada

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8 For further details refer to ASX Announcement 28 January 2020

9 For further details refer to ASX Announcement 1 September 2020

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PICKLE CROW GOLD PROJECT, ONTARIO, CANADA

A RAPIDLY ADVANCING HIGH-GRADE GOLD PROJECT

E: info@autecominerals.com

W: www.autecominerals.com

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PICKLE CROW RESOURCE ESTIMATE – SEPT 2020

Independent JORC 2020 Resource estimate for the Pickle Crow Gold Project (ASX 1[st] September 2020)

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3.5 g/t gold lower cut off totals rounded to reflect acceptable precision

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APPENDICES – PICKLE CROW ACQUISITION

Earn-in up to 80% – First Mining Gold Inc

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Earn-in Details[1] :

• Auteco paid C$50,000 to First Mining (TSX: FF) in STAGE 1 EARN-IN signing binding term (51%): STAGE 2 EARN-IN sheet. Upon signing the • Spending C$5,000,000 (UP TO 70%): formal agreement: over three years • Auteco to spend a

• • A further C$50,000; comprising: further C$5,000,000

• and • C$750,000 within a 12in 2 years after

• • 25,000,000 Shares in month period satisfaction of Stage the capital of (Expenditure Payment 1 Earn-in Auteco (issued 23[[rd]] 1); (Expenditure Payment 3); and

• 25,000,000 Shares in month period the capital of (Expenditure Payment Auteco (issued 23[[rd]] 1); April 2020)

• C$4,250,000 within a 24month period after Expenditure Payment 1 is satisfied; and

• Cash payment of C$1,000,000 in 90 days of completing expenditure Payment 3 (Expenditure Payment 4).

• Subject to shareholder approval, Auteco will issue First Mining 100,000,000 Shares.

BUY IN:

• Auteco may buy a further 10% interest by paying C$3,000,000 to First Mining; and

• Auteco will grant First Mining a 2% NSR granted after the Stage 2 Earn-In. Auteco has the right to purchase back 1% of the NSR for US$2,500,000.

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1 Refer ASX release on 28 January 2020 https://www.asx.com.au/asxpdf/20200128/pdf/44djz58bhz86z0.pdf