FireFly Metals Ltd. — Share Issue/Capital Change 2008

May 29, 2008

Exploration Office 11A Croydon Rd Keswick SA 5035

==> picture [283 x 84] intentionally omitted <==

ABN 96 110 336 73 3

Tel +61 8 8375 3900 Fax +61 8 8375 3999 www.monaxmining.com.au

ASX RELEASE

For Immediate Release

30 May 2008

CHAIRMAN'S LETTER TO OPTION HOLDERS

The following letter regarding unlisted options in Monax Mining Limited (‘MOX’) due to expire on the 30 June 2008 with an exercise price of 25 cents was today mailed to option holders.

Yours Faithfully

Virginia Suttell Company Secretary

Exploration Office 11A Croydon Rd Keswick SA 5035

==> picture [283 x 84] intentionally omitted <==

ABN 96 110 336 73 3

Tel +61 8 8375 3900 Fax +61 8 8375 3999 www.monaxmining.com.au

29 May 2008

Dear Option Holder,

As at the date of this notice you are the registered holder of unlisted Options in Monax Mining Limited which are due to expire on 30 June 2008. Your options will expire unless exercised on or before that date. It is important that you carefully read the following information:

Expiry Date

Your options effectively expire at 5:00pm (CST) on Monday 30 June 2008.

Number of Options held and amount due on exercise

Name of Holding: Number of options held: Exercise Price: Amount due on exercise of 100% of options:

Payment

One fully paid ordinary share in the company will be issued for each Option exercised. You may exercise your Options by delivering to the Company Secretary at 11A Croydon Road Keswick SA 5035 by close of business on Monday 30 June 2008 the following:

1. The Option certificate

2. Written notice of the exercise of the Option

3. A cheque made payable to Monax Mining Limited and crossed ‘Not Negotiable’ for the Option exercise price.

Any enquiries should be directed to the Company Secretary on 08 8375 3900.

Consequence of Non-Payment

Options not exercised by 30 June 2008 will expire with no value and no further entitlement will exist.

Share Prices

The latest available market sale price on the Australian Stock Exchange Limited before the date of this notice for fully paid ordinary shares in Monax Mining Limited (ASX code ‘MOX’) being the underlying securities to which the Options relate to was 30.5 cents on 28 May 2008.

The highest and lowest market price for fully paid ordinary shares in Monax Mining Limited (ASX code ‘MOX’) being the underlying securities to which the Options relate to during the three months immediately before the date of this notice and the respective dates were as follows:

Highest Price: 40 cents on 31 March 2008 Lowest Price: 21 cents on 6 February 2008

Yours Faithfully

==> picture [63 x 48] intentionally omitted <==

RM Kennedy Chairman