Firefly Metals: Exceptional infill drilling results support strategy to upgrade Resource ahead of expanded mining studies

25 March 2025

Highly successful drilling campaign paves way for upgrades of Inferred Resources to Measured & Indicated Resources, which typically attract significantly higher comparative valuations

• FireFly continues to generate strong infill drilling results as part of its multi-pronged strategy to create significant shareholder value over 2025
• The Infill drilling program is a key plank of this growth strategy; It is aimed at upgrading Inferred Resources to Measured and Indicated category; These higher-confidence Resources typically attract increased valuations and can be used to help underpin mining studies, which in turn are designed to demonstrate the production and cashflow potential of the project, unlocking further value in the process
• Drilling of the Massive Sulphide (VMS) lenses from the exploration drive continues to deliver high-grade intersections from copper-gold rich zones, including:
• 14.2m @ 7.5% CuEq1 (5.7% Cu & 2.0g/t Au) in hole MUG24-125 (~ true thickness)
• 9.0m @ 5.5% CuEq (4.5% Cu & 1.2g/t Au) in hole MUG24-106 (~ true thickness)
• 14.5m @ 4.6% CuEq (3.4% Cu & 1.3g/t Au) in hole MUG24-102 (~ true thickness)
• 19.0m @ 3.8% CuEq (2.9% Cu & 1.0g/t Au) in hole MUG24-114) (~ true thickness)
• The broad Footwall stinger zone continues to demonstrate thick and consistent copper mineralisation, pointing to the potential for large-scale bulk mining. Intersections include:
• 50.9m @ 2.6% CuEq (2.5% Cu & 0.2g/t Au) in hole MUG24-091 (~ true thickness)
• 46.8m @ 2.2% CuEq (2.1% Cu & 0.2g/t Au) in hole MUG24-111 (~ true thickness) o 66.8m @ 2.1% CuEq (2.0% Cu & 0.1g/t Au) in hole MUG24-081 (~ true thickness) o 21.7m @ 2.7% CuEq (2.6% Cu & 0.1g/t Au) in hole MUG24-123 (~ true thickness) o 42.8m @ 2.2% CuEq (2.1% Cu & 0.1g/t Au) in hole MUG24-084 (~ true thickness)
• The latest infill drilling results further demonstrate the world-class potential of the Ming Mine at Green Bay and are expected to significantly increase the quantity of Measured and Indicated Resources in the next update (currently 24.4Mt at 1.9% CuEq Measured & Indicated Resource and 34.5Mt @ 2.0% CuEq Inferred Resource; see ASX announcement dated 29 October 2024)

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