FireFly Metals Ltd. — Regulatory Filings 2007

Jun 17, 2007

Registered Office 140 Greenhill Road Unley SA 5061

Tel +61 8 8373 6271 Fax +61 8 8373 5917 www.monaxmining.com.au

ASX RELEASE

For Immediate Release 18 June 2007

ALLOTMENT OF SHORTFALL SHARES - 1 FOR 10 RIGHTS ISSUE

Monax Mining Limited advises that the attached letter is today being mailed to shareholders with holding statements following allotment of 2,415,591 shares to applicants for additional/shortfall shares under the 1 for 10 Rights Issue.

Yours faithfully

Dom Francese Company Secretary

Registered Office 140 Greenhill Road Unlev SA 5061

Tel +61 8 8373 6271 Fax +61 8 8373 5917 www.monaxmining.com.au

18 June 2007

Dear Fellow Shareholder,

ALLOTMENT OF SHORTFALL SHARES - 1 FOR 10 RIGHTS ISSUE

It is with pleasure that I enclose a holding statement recording the allotment of shares following your application for additional/shortfall shares under the Monax Mining Limited 1 for 10 nonrenounceable Rights Issue at \$0.70 per share.

Monax Mining Limited raised a total of \$3.5 million from the Rights Issue before costs.

In addition to the 2,593,863 shares taken up by eligible shareholders under their Rights Issue entitlement. Monax Mining Limited received applications for additional/shortfall shares which exceeded the total number of shares that could be issued under the Rights Issue Prospectus. It was therefore necessary for applications to be scaled back in accordance with the terms of the Rights Issue Prospectus. No shortfall shares have been allocated to Directors.

A total of 2,415,591 shortfall shares have been allotted under the Rights Issue and your allocation is shown on the enclosed holding statement.

As it was not possible to satisfy all applications, applicants may be entitled to a refund of application money. If relevant, a refund cheque is being mailed to you separately.

I take this opportunity to thank you for supporting the Company's Rights Issue and together with my fellow directors. look forward to the results from the Company's exciting exploration programs.

Yours faithfully

R M Kennedy Chairman